By ``IOU's'' you are talking about T-bills that are paid to constituents like you and me. We might be down to the E bonds or the smaller ones but the T-bills are the IOU's in there, and we have by law sold them or loaned that money to the Federal Government in return for T-bills plus interest to be paid at a definite period of time and the trustees are required to have that flow of money. Am I correct in that?
Discussing the nature of T-bills and their role in government financing.
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So, Mr. Speaker, so if millionaires took a $65,000 tax cut as opposed to a $103,000 tax cut, we could pay for the student loan program.
Just for the gentleman from Florida, you are saying that these cuts that are being talked about today are imaginary, or are they real? And I would be happy to yield to the gentleman. Are they imaginary cuts or real cuts? Maybe we have got…
I was the sole person who had to make that decision. But, when you look back at the alternatives that I had, it was the right decision. And I have no question that it was the right thing to do then. And I'm more certain today.
Check 21 is pretty simple in what it does. It just modernizes the Nation's check payment system and tries to keep up with all the new technologies in the 21st century.
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