Tim Ryan: “We owe, every year, in interest, this is the 2007 budget authorization, billions of dollars. The big red thing, what are…”

“We owe, every year, in interest, this is the 2007 budget authorization, billions of dollars. The big red thing, what are we spending all our money on, $230 billion is interest on the debt. All this money we are borrowing, it is like your house or your car. You buy a $20,000 car. Over time you pay $25,000 for it because you have got to pay the interest. It is sucking money from education, homeland security, veterans benefits, research and development, business incubators, community development block grants, all the things that we put in the communities to help communities make local decisions so that they can grow their local economy. We are sucking it out and we are giving it to China. China is taking the interest that we give them, and they are investing it back into their state-owned manufacturing companies that are stealing the manufacturing jobs. That is the cycle of the money over and over and over and again.”