Kent Conrad: “Not anymore. Now we are borrowing from Japan primarily. China is next. Great Britain is third. The Caribbean banking…”

“Not anymore. Now we are borrowing from Japan primarily. China is next. Great Britain is third. The Caribbean banking centers are fourth. We owe them $98 billion. We even owe the South Koreans $60 billion. As to our colleagues on the other side, it is fine with them: Keep borrowing the money. Spend the money. Borrow the money. This is the defining difference. I am glad our colleague, the chairman of the committee, made the point that this defines the difference. It certainly does. We do not believe the appropriate policy is to keep running up the debt of the country, to keep borrowing the money, but that is what this budget does.”