On the recordJune 15, 2010
I want to say again that we have major problems with our economy. We have a problem with spending. Not a problem with revenue, but a problem with spending. And I want to point out some comments and contrast positions from when our colleagues were in the minority to now. In May of 2006, then-Minority Leader Pelosi declared, quote, ``Our national debt is a national security issue. Countries that own our debt will not only be making our toys, our clothes, and our computers, pretty soon they will be making our foreign policy. They have far too much leverage over us.'' Keep in mind that, at the time she said this, the total public debt outstanding was $8.351 trillion. Now, when they have created a debt of over $13 trillion, suddenly it's not a problem. Or in December 2005 when she declared, quote, ``Democrats support pay-as-you-go. No deficit spending. If something is important to you, figure out how to pay for it, but do not make my grandchildren and children have to pay for it, or anybody's children and grandchildren have to pay for it.'' Again, keep in mind that, at the time she said this, the debt was $8.107 trillion. Now, when they've created a debt of over $13 trillion, they seem not to be concerned about their children and grandchildren.
