As a result of the conventions of accounting, it may appear this money can be spent twice, as Mr. Elmendorf said is happening. But the truth is, we cannot spend the money twice. It is increasing the debt, and there is no doubt about it.
The speaker addresses concerns about accounting practices and their impact on national debt.
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I thank the distinguished gentleman and friend from Kansas for yielding. I also thank my colleague from the District of Columbia, representing the minority or the Democratic Party on the Subcommittee on Government Operations and the…
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