Political Quotes

Charles W. Stenholm: “today we owe the country $7,078 billion, being swept under the rug every day. Foreign holdings of our debt now total…”

On the recordFebruary 24, 2004
today we owe the country $7,078 billion, being swept under the rug every day. Foreign holdings of our debt now total $1.5 trillion. Foreign investors financed 70 percent of our record $373 billion debt last year. In January of 2002, foreign investors held $1 trillion of our U.S. debt; today it is $1.5 trillion. Japan holds $545 billion, and China holds $149 billion of our debt. By far, the United States' largest foreign aid program is our interest payments to foreign investors, yet we continue to not want to change our economic game plan to do something about it. The largest single debt tax increase in the history of our country is being perpetrated on us today. Mr. Speaker, $7,078 billion, that is what we owe today.
Source
govinfo.gov

Editor's note · Context

Discussing the growing U.S. national debt and foreign ownership of that debt.

Share

Share on XShare on FacebookEmail this quote

More from Charles W. Stenholm

May 5, 2004

that is not the intent of this amendment. It is not to get into taxes or spending. It is just to say to this body, we have to make a decision regarding how much more we borrow on our children and grandchildren.

govinfo.gov
May 5, 2004

You have spent more, period, and that record stands up. All we are talking about today is a simple resolution saying, let us put us all under the gun. If you put your budget on the floor under pay-as-you-go, I will have to vote for it, if…

govinfo.gov
Oct 5, 2004

I rise in support of H.R. 4620. H.R. 4620 was introduced by our colleague, the gentleman from Washington State (Mr. Nethercutt). I have been contacted by the Texas Wheat Growers, the National Association of Wheat Growers, the Wheat Export…

govinfo.gov
Nov 18, 2004

I want to say it is with a little bit of mixed emotion tonight that I address this body for the last time. I guess it kind of came to me in a real way just a moment ago when my grandson, who is sitting beside me, asked me a moment ago…

govinfo.gov
View all Charles W. Stenholm quotes

Other voices in this conversation