Jim Ryun: “I rise in support of the Iraqi supplemental spending request. I strongly believe that both portions of the supplemental…”

“I rise in support of the Iraqi supplemental spending request. I strongly believe that both portions of the supplemental request are necessary. We have won the war in Iraq, now we must win the peace. The investment we make in Iraq today will help to ensure our safety and security against terrorism here at home in the future. We cannot leave the job of reconstruction unfinished in Iraq and leave open the very real possibility that another dictator or a terrorist regime will take over Iraq by winning the hearts and minds of the Iraqi people. As a strong fiscal conservative, my first instinct was to provide the $21 billion for reconstruction as a loan--not a grant as requested. However, after a great deal of thought and research, I believe that the loan proposal is not the right approach. With a debt of $350-$600 billion, the likelihood that Iraq could pay off another loan is remote at best. It is important that America takes the lead and convinces Iraq's largest creditors, Russia, France and Germany, to forgive Iraq's burdensome debt. We must therefore not be hypocritical and contribute an additional financial burden. Additionally, the $21 billion in reconstruction funding is just a portion of the $50-$75 billion overall cost of Iraqi reconstruction. Clearly, Iraqi oil revenues will be used to fund reconstruction and ongoing government operations in Iraq.”