John Sarbanes: “Those are huge sums we are borrowing from these various nations in order to cover our deficit. This is debt they hold…”

“Those are huge sums we are borrowing from these various nations in order to cover our deficit. This is debt they hold which the United States has to pay back. The fact is, if you connect everything, what is happening in effect is, in order to give tax cuts to the elite, to the very wealthy, we are borrowing money, and we end up borrowing money from all of these countries in order to finance the deficit that results from the tax cuts, and then saddling the next generation with the responsibility of paying on this debt out into the future. It is incredible when you stop and think about it; that in order to finance tax cuts here we are borrowing money from over there in order to do that.”