On the recordMarch 17, 2011
I want to point out that for those Members who are concerned about the finances of this government, U.S. debt soared from $6.4 trillion in March 2003 to $10 trillion. Joseph Stiglitz, Nobel Prize winner economist, and his associate, Linda Bilmes, pointed out that at least a quarter of that increase is directly attributable to the war in Iraq. As a result of two costly wars, funded by debt, our fiscal house was in abysmal shape even before the financial crisis, and those fiscal woes compounded the downturn. The global financial crisis was due at least in part--this is a quote-- to the war. {time} 1220 Now they continue. The Iraq war didn't just contribute to the severity of the fiscal crisis, though it kept us from responding to it effectively. So, my friends, finance is a national security issue. If we are broke, we can't defend ourselves. I yield 1\1/2\ minutes to the gentleman from Vermont (Mr. Welch).
