[Congressional Record (Bound Edition), Volume 157 (2011), Part 6]
[House]
[Page 8376]
[From the U.S. Government Publishing Office, www.gpo.gov]




 OUR PRESENT MONETARY SYSTEM: WORKING FOR A FEW AT THE EXPENSE OF THE 
                                  MANY

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute.)
  Mr. KUCINICH. Why are we in debt? We borrow trillions for wars in 
Afghanistan and Iraq, trillions for tax cuts for the rich. We borrow 
billions from China and Japan.
  We have plenty of money for war, Wall Street, and welfare for the 
wealthy; but when millions of honest Americans need jobs, need wage 
increases, need health care, need education, need retirement security, 
they're told no, we don't have the money.
  How is it that the Fed can create trillions of dollars to give to the 
banks but the U.S. can't meet its needs without going into debt to 
banks? The financial system works for a few at the expense of the many.
  The Founders did not intend for America to be run by big banks and 
Wall Street. The Constitution put the ability to create money in the 
hands of Congress. The Fed took away that power in 1913. We need to get 
that power back to invest in our economy, to create jobs, to put 
America back to work, to rebuild America without going into debt. We 
must reclaim our destiny by reclaiming control over the money system.

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