TRANSCRIPT

Hoyer Responds to the Republicans Once Again Raising the Debt Limit
March 16, 2006

MR. HOYER: I ASK UNANIMOUS CONSENT TO ADDRESS THE HOUSE FOR ONE MINUTE AND REVISE AND EXTEND MY REMARKS. THE SPEAKER PRO TEMPORE: THE GENTLEMAN IS RECOGNIZED. MR. HOYER: MADAM SPEAKER, TODAY THE SENATE WILL VOTE ON THE $781 BILLION INCREASE ON THE NATIONAL DEBT, THE FOURTH INCREASE IN FIVE YEARS AND THE REPUBLICAN PARTY CONTINUES TO PUSH TAX POLICIES THAT WILL DRIVE US EVEN DEEPER INTO DEBT. IN FIVE YEARS, THE WASHINGTON REPUBLICANS HAVE RACKED UP MORE NEW DEBT, MORE THAN $3 TRILLION THAN THE ENTIRE DEBT AMASSED FROM 1789 TO 1988. WE ARE NOW BORROWING MORE THAN $600,000 PER MINUTE, $218 BILLION THIS YEAR ALONE. IN MARCH, 2001, PRESIDENT BUSH PROMISED, QUOTE, WE WILL PAY OFF $2 TRILLION OF DEBT OVER THE NEXT DECADE. FUTURE GENERATIONS SHOULDN'T BE FORCED TO PAY BACK MONEY THAT WE HAVE BORROWED. WE OWE THIS KIND OF RESPONSIBILITY TO OUR CHILDREN AND GRANDCHILDREN. PROMISES MADE, PROMISES BROKEN, A $5 TRILLION MISTAKE THE PRESIDENT MADE. SADLY, THE ADMINISTRATION AND THE REPUBLICAN MAJORITY IN THIS CONGRESS CONTINUE TO PURSUE THEIR RECKLESS, IRRESPONSIBLE, DEBT-CREATING POLICIES. THE SPEAKER PRO TEMPORE: THE GENTLEMAN'S TIME HAS EXPIRED. MR. HOYER: HOW SAD. HOW WRONG. I TELL THE GENTLEMAN FROM NORTH CAROLINA, IT'S NOT THAT WE CAN DO BETTER, WE DID BETTER. THE SPEAKER PRO TEMPORE: THE GENTLEMAN'S TIME HAS EXPIRED.