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Pelosi: ‘America’s National Security Is Seriously Jeopardized by This Republican Budget’
Thursday, May 18, 2006
Contact: Brendan Daly/Jennifer Crider, 202-226-7616
Washington, D.C. – House Democratic Leader Nancy Pelosi spoke on the House floor late Wednesday night in opposition to the Republican budget resolution and in favor of the Democratic substitute offered by Congressman John Spratt of South Carolina. Below are Pelosi’s remarks:
“Mr. Speaker, our most important responsibility as elected officials is to provide for the common defense. Keeping the American people safe is our first responsibility. That personal safety and America’s national security are seriously jeopardized by this Republican budget. A vote for the Spratt Democratic alternative is a vote for a safer and more secure America.
“Close to home and in our neighborhoods, the Republican budget slashes funding for our first responders, including the COPS Program and the SAFER Act. These initiatives put police on the beat and equip our firefighters. The Democratic budget restores all these cuts.
“The Republican budget cuts homeland security funding by over $450 million in fiscal year 2007 and $6 billion over five years. The Democratic budget provides $1 billion more for port security and overall, $6.5 billion more to keep our country safe.
“The Republican budget continues to hide the cost of the Iraq war from the American public, and cuts the Army National Guard strength by more than 17,000 troops despite the tremendous strain that the war has placed on them, and now the additional charge the President has made of them on immigration. The Democratic budget fully funds our Army National Guard.
“The Republican budget betrays our veterans by cutting $6 billion over the next five years from current services, and tripling TRICARE health fees. The Democratic budget keeps our commitment to veterans.
“Republicans are abandoning our veterans and failing to invest in America’s safety in order to give huge tax cuts to the wealthy that leave Americans awash in red ink. Today, the President signed a tax bill. Tonight in this budget, we have to deal with the consequences of those tax cuts largely for the wealthiest people in America.
“Under the President’s bill and passed by this Republican Congress, Americans making $20,000 will receive $2 a year in tax cuts. Americans making $40,000 will receive only $16, barely enough for a couple to go to the movies. Those making $50,000 will receive $46, barely enough to fill up your gas tank these days thanks to Mr. Cheney’s energy policy.
“But if you make more than $1 million a year, you get 1,000 times what somebody making $50,000 a year gets. You make $42,000 in tax cuts.
“In effect, American taxpayers are going into debt to China and Japan to give tax cuts to America’s wealthiest people. When Republicans spend the federal budget into the red, the U.S. Treasury borrows money from foreign countries. Since President Bush took office, the amount of our foreign-owned debt has increased by over $1 trillion. In fact, it is more than all the foreign owned debt of the 42 previous presidents combined. A horrible record.
“The Japanese own $670 billion and the Chinese own $260 billion of our foreign debt. Our national debt is a national security issue. Countries that now own our debt will not only be making our toys, our clothes, and our computers, pretty soon they will be making our foreign policy. They have far too much leverage over us.
“While the Republican budget is never balanced, and has deficits as far as the eye can see, the Democratic budget reaches balance by 2012, and follows the strict rules of pay-as-you-go, no new deficit spending.
“Instead of investing in our veterans, instead of securing our ports, the Republican policy of tax cuts for the wealthy have meant that interest payments to foreign countries are the fastest growing item in this budget.
“Democrats take seriously our first responsibility – to provide for the common defense. Our Democratic budget reflects that commitment. Mr. Spratt is not only the Ranking Democrat on the Budget Committee; he is a senior member of the Armed Services Committee. His commitment to tough and smart national security for our country where we project America’s power to protect our people and protect our interest around the world is a strong commitment. Mr. Spratt’s patriotism and his commitment to our national security is reflected this budget. He has helped create a Democratic budget that makes us all proud and does it in a fiscally responsible way. I urge my colleagues to support the Spratt substitute, to reject the unpatriotic, irresponsible, and as the religious community said, ‘immoral budget’ that the Republicans are proposing tonight.”
