Steve King said "It triggers in my memory how much money an aircraft carrier can be built for. Bloomberg reported on Monday that if you add up the commitments that the United States has made within the last year in economic stimulus plan in one kind or another, including Fannie Mae and Freddie Mac, including the rebate check, including the $700 billion bailout, the risk in Fannie and Freddie and these bailouts, it comes to $9.7 trillion. That is with a ``T.'' And if we applied the $9.7 trillion to the home mortgages in America, it would pay off 90 percent of the home mortgages in America. That is how much money is at risk here, taxpayers' money, the people's money in this country." @ PoliticalQuotes.com

On the recordFebruary 12, 2009

It triggers in my memory how much money an aircraft carrier can be built for. Bloomberg reported on Monday that if you add up the commitments that the United States has made within the last year in economic stimulus plan in one kind or another, including Fannie Mae and Freddie Mac, including the rebate check, including the $700 billion bailout, the risk in Fannie and Freddie and these bailouts, it comes to $9.7 trillion. That is with a ``T.'' And if we applied the $9.7 trillion to the home mortgages in America, it would pay off 90 percent of the home mortgages in America. That is how much money is at risk here, taxpayers' money, the people's money in this country.

Said by

Steve King

Republican · Iowa

Source

govinfo.gov

Editor's note · Context

Discussing the financial commitments of the U.S. government during a debate on economic stimulus.

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