Wendy Sherman: “I voted for the Iraq resolution last October. I support our troops. This amendment is the key vote of the evening. If…”

“I voted for the Iraq resolution last October. I support our troops. This amendment is the key vote of the evening. If everyone who spoke for the Pence amendment, everyone who spoke in their district about how we should be making loans to Iraq (rather than gifts), if they have the courage to actually vote for this amendment, it will pass. We are told that somehow this amendment makes us seem to be cheap, ungrateful, unwilling. I say that we have paid in blood and treasure for the freedom of the Iraqi people, and, if this bill passes, we will be spending another $76 billion toward that end. If we need to prove to the world that we are the good guys, another $9 billion is not going to do it. Look at this bill if we pass this amendment: $87 billion to help the Iraqi people; $9 billion of it is loans. Looked at another way, $18 billion for reconstruction; half loans, half gift. The money will still be spent. Every school in Iraq that would have been rebuilt, will be rebuilt just as quickly. The only question will be whether there will be a promissory note in the U.S. Treasury so that we get repaid next decade. Two plans for the Iraqi balance sheet: One is to leave them indebted $100 billion and more to these creditors, chiefly Saudi Arabia and Kuwait, and another $100 billion to Kuwait for reparations, a $200 billion debt load. But some say, oh, we cannot inflict them with another $9 billion in debt to the United States.”