Marcy Kaptur: “I rise in support of the Victory Bonds Act of 2001 that was introduced by the gentleman from New York (Mr. Sweeney), the…”

“I rise in support of the Victory Bonds Act of 2001 that was introduced by the gentleman from New York (Mr. Sweeney), the gentleman from New York (Mr. LaFalce), and the gentleman from Maryland (Mr. Cardin), and all those who have worked so very hard here to bring this bill to the floor, including the gentleman from New York (Mr. Houghton). Like so many other Members of this body, I also have introduced a savings bond measure and find that this one has many similarities to the one that I have introduced and would urge the support of my colleagues for, and I would ask the American people to think very hard about purchasing one of these freedom bonds in order to help in our war efforts. The amount of yield on the bond would be announced on a fairly regular basis, but it is more than is paid for a current savings account in a local financial institution and is guaranteed by the full faith and credit of the government of the United States. It is probably important to say for the record that it is also important to purchase savings bonds because in the last 20 years almost half of our public debt is now owned by foreign interests. This is a staggering figure. We pay over $370 billion a year to offshore interests to finance the spending of this economy.”