Dick Durbin: “The national debt of America has doubled in the last 7 years under President Bush. We have accumulated more debt under…”

“The national debt of America has doubled in the last 7 years under President Bush. We have accumulated more debt under President Bush than under all of the previous Presidents of the United States combined. We have incurred this debt because we have had a war the President has not paid for, nor asked Congress to pay for, and we have had a tax cut policy which is unique in the history of our country. No President of our country has ever asked for a tax cut in the midst of a war. Since March 2001, foreign investors have financed nearly 80 percent of our Federal budget deficit. It is not a healthy relationship when countries such as China, Japan, Korea, and the OPEC nations become the largest creditors of the United States.”