James T. Callahan: “the true scenario is this. The President of the United States has committed to participate in this debt forgiveness…”

“the true scenario is this. The President of the United States has committed to participate in this debt forgiveness program of worldwide contributions, and we intend to fulfill responsibly some of the requests of the President. But just because the President calls up or writes me a note and sends a note over here and says, Sonny, give me 4 or $500 million does not make it an obligation of the United States of America. I think that you as a Congressperson and that I as a Congressperson have a responsibility to ask the President, Are you sure this is the right way to go? That is what I am doing. I think the President is making a big mistake, not in the amount of money that he requested, not for the programs that he is requesting that be enhanced, but because of the mechanism to get to the end result of the entire proposal of HIPC is where the mistake is. So I am saying, wait a minute. And you all know I am not the smartest man in the world. I am not the dumbest man in the world, either. And I have some background and experience in finance, not multibillions of dollars like some of our colleagues here in the House, but I have some experience.…”