Austin Scott: “Mr. Ross, again, as always, it is a pleasure to join you on the floor. And I can tell you that our folks down in Georgia…”

“Mr. Ross, again, as always, it is a pleasure to join you on the floor. And I can tell you that our folks down in Georgia are really, really concerned about the debt, as they are all across this Nation. I think it is important for us to really draw some dramatic pictures of just how devastating this debt is. And you talked a few minutes ago about one feature that I want to spend just a few minutes on at the outset before we go into some of the other areas. But I think the American people need to understand this issue of foreign debt, of our indebtedness in the hands of foreign governments. Now, I want to say right up front that we have no problem with doing business with other countries, we have no problem with having indebted relationships with other countries. But when you look at this sterling fact, you will say enough is enough. And the one glaring fact is that in the last 5 years, Mr. Ross, and Mr. Speaker, this President in collaboration with this Congress, because the President couldn't do it by himself, we all must take blame. But we have borrowed more money from foreign governments and foreign financial institutions in the last 5 years than in the entire preceding 211 years of existence of the United States of America. Think about it. Since 1789 up to 2001, we borrowed $1.4 trillion from foreign governments. In the last 5 years, we have borrowed over $1.6 trillion just in the last 5 years. That alone is enough to scare the pants off of anybody.…”