Political Quotes

Sam Gibbons: “Mr. Speaker, this bill needs to be adopted. I am not opposed to it. It is equivalent of a $62 billion debt increase for…”

On the recordMarch 7, 1996
Mr. Speaker, this bill needs to be adopted. I am not opposed to it. It is equivalent of a $62 billion debt increase for a period of only 2 weeks. Unfortunately, 28 percent of all the debt, Mr. Speaker, that we are talking about here is held by foreigners. That is not a good way to treat those the you want to encourage to buy your bonds. It is obvious that they cannot predict what is going to happen here in this Congress, and there are other places for them to invest their capital rather than the U.S. obligations. After all, we pay the lowest interest rates in the world. So any time we destabilize this market, we are going to cost ourselves money. I hope we will all remember that.
Said by
Sam Gibbons
Florida
Source
govinfo.gov

Editor's note · Context

Discussing the implications of a proposed debt increase during a House floor debate.

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