On the recordJuly 28, 2011
I thank the gentleman from Michigan for yielding the time. This argument today is not about new spending. The argument today is about paying our bills. This is the credit card that has come due for the irresponsibility that we witnessed in this Chamber and across this Congress for 8 years of the Bush administration: two wars and $2.3 trillion worth of tax cuts, a prescription D Medicare drug bill that came due. Lawrence Lindsey, the President's chief economic advisor at the time, said it was going to cost $300 billion in Iraq. They fired him. Dick Cheney said $60 billion in Iraq and in and out in 6 to 8 months. Ten years later, we're in Iraq. We have created 2.2 million new veterans. They are going to need our care for years to come in our health centers for the VA. It's going to be expensive. Paul Wolfowitz: In and out of Iraq in 2 months, a few billion dollars. The bill, our friends, has come due. We cannot send a message to markets anywhere that the full faith and credit of the United States of America is at risk. In the aftermath of World War II, when finances were strained as never before, President Truman had the vision not only to pay off the debt of World War II, but to embrace the Marshall Plan, one of the greatest achievements in American history. Think of what Mr. Lincoln, who served in this Chamber, by the way, think of what Mr.…





