Earl Pomeroy: “We are now looking at an annual deficit in excess of $500 billion. I know the people I represent in North Dakota are…”

“We are now looking at an annual deficit in excess of $500 billion. I know the people I represent in North Dakota are really struggling with this request of the President to send $87 billion to Iraq because they know that when we are $500 billion in debt for this year, that this $87 billion to Iraq is all borrowed money. That all falls on the heads of our children. It is important, I think, with that being the financial framework of our country, as we talk about this debate, that we look closely at what has happened to the staggering escalation in costs to this MSA, medical savings account, provision. I am a member of the Committee on Ways and Means that considered this legislation. The initial proposal was scored by the Congressional Budget Office at $14.3 billion over 10 years.”