Bill Delahunt: “I can give you a similar economic picture of what is occurring in my district back in Massachusetts. There was a recent…”

“I can give you a similar economic picture of what is occurring in my district back in Massachusetts. There was a recent headline in the Cape Cod Times. And in that particular region, where you have many second homes, we are breaking records now in terms of mortgage foreclosures. One can just foresee what is happening as we talk to our colleagues among ourselves, that the ingredients and the components for an economic downturn of significant proportion are out there. And it will be as a direct result of the borrowing, the reckless spending, the giveaway programs that are going on today in Iraq, and the mismanagement, the fraud and the abuse and the lack of accountability. When you add it all up, it spells a recipe for economic disaster for America.”