James T. Callahan: “Let me just tell the gentlewoman, number one, we are not talking about debt that our country has given to these foreign…”

“Let me just tell the gentlewoman, number one, we are not talking about debt that our country has given to these foreign countries. We have already forgiven that debt. We have fulfilled our shared responsibility of that HIPC agreement through our bilateral debt forgiveness. I am not talking about debt that these countries owe to the United States of America. I am talking about debts that they owe to the multilateral banks. I am saying at the same time, Sonny, maybe you are wrong. That was my fear, that I would be making a mistake; and just in case I am wrong, which I really do not think at this time I am, nor have I heard any argument to the contrary. Just in case I am wrong, Mr. President, here is a down payment; here is $69 million to get you into the spring or fall, whereby we can look at a potentially more responsible mechanism for achieving the same goals that we all want to achieve. I do not see anything unreasonable about that, but I know that you all do; and I know that you all have the right to disagree, and I respectfully disagree with you. I will disagree with the Pope if indeed he says this is an irresponsible thing, but the Pope is too intelligent a person to deny that I am not right on this issue, Mr. Chairman.”