Mr. Speaker, this evening, as most Tuesday evenings, I rise on behalf of the 47-member-strong, fiscally conservative Democratic Blue Dog Coalition. As I sat here, Mr. Speaker, thinking about what I wanted to discuss in this next hour with…
Mr. Speaker, this evening, as most Tuesday evenings, I rise on behalf of the 47-member-strong, fiscally conservative Democratic Blue Dog Coalition.
As I sat here, Mr. Speaker, thinking about what I wanted to discuss in this next hour with some of my Blue Dog colleagues, I couldn't help but listen to some of the rhetoric that we've heard over the past hour. You know, for 6 years, for 6 years the Republicans controlled the White House, the House and the Senate. And what did they give us? They gave us tax cut after tax cut for folks earning over $400,000 a year.
And this new Democratic majority, what has the Democrats given you? We are giving you health care for children of working parents. Let me repeat that. This is health care for the children of working parents. This is not for children whose parents are on welfare. They're already covered under a program known as Medicaid, which is health insurance for the poor, the disabled and the elderly.
Some 10 million children in America will go to bed tonight without health insurance, without the ability to go to the doctor when they get sick. And who are they? They're the children of parents who are trying to do the right thing and stay off welfare, but they're working the jobs with no benefits.
While the Republicans were hiding earmarks, the Democrats in this new majority have been passing legislation that says if you're a Member of Congress and if you break the law, you lose your pension, period. And while the Republicans have been on an agenda that benefits those earning over $400,000 a year, the Democrats in this new majority have raised the Federal minimum wage for the first time in 10 years.
If we're serious about moving people from welfare to work, we've got to pay them more than $10,712 a year, which is what the previous minimum wage represented if you worked 40 hours a week, 52 weeks a year, never get sick, and never take a single day off for vacation.
Now, they said that the Democrats are wanting to provide health insurance for children of working parents. We plead guilty to that, and after all, if the working families have been benefiting from some of these tax cuts that primarily benefited those earning over $400,000 a year for the past 6 years, our working families might not need the help, but they do because under the past 6 years of a Republican White House, House and Senate, quite frankly, they haven't got it.
It's time, Mr. Speaker, to tone down the political rhetoric and look at the facts, and as a member of the Blue Dog Coalition, I can tell you what we're all about. We're about fiscal discipline and accountability. We're about putting an end to the partisan bickering. We don't care if it's a Democrat or Republican idea. We ask ourselves, is it a commonsense idea and does it make sense for the people that send us here to be their voice?
Today, the U.S. national debt is $9,063,547,746,613. If you divide that enormous number by every man, woman and child in America, including the children being born today, every one of us, our share of the national debt, $29,888. That's what those of us in the Blue Dog Coalition refer to as the debt tax, D-E-B-T, which is one tax that cannot be cut, cannot go away until we get our Nation's fiscal house in order.
Tonight, we're going to be talking about the debt, the deficit, and as members of the fiscally conservative Democratic Blue Dog Coalition, we're going to be talking about ways to put an end to this reckless spending.
If you ask 100 people on the street what they think about this Iraq war policy, you will get about 100 different answers, but one of the things that unites us as Blue Dogs is we believe that the money that this administration asks for for Iraq should be accounted for. We believe that if this President is going to continue to spend, and this is year 5, if this President is going to continue to spend $16 million an hour, $16 million every 60 minutes going to Iraq, and if this President's going to continue down that path, then we believe we're not here tonight to debate the merits of $16 million an hour going to Iraq, but we're here tonight to hold this administration accountable for how that money is being spent and to ensure that it's being spent not on projects for Iraq but providing the protection and the state-of-the-art equipment that our brave and honorable men and women in uniform not only need but deserve.
This war has affected all of us. My first cousin was in Iraq when his wife gave birth to their first child. He's now back for a second time, and he will be there when she gives birth to their third child. My family's not any different from many families across America.
Many families have made the sacrifice, some of them the ultimate sacrifice, in support of their loved ones who have gone and simply done what they've been asked to do. And Mr. Speaker, if we're going to send our men and women in uniform to Iraq, we need to make sure some of this money is being spent on them, and we need to make sure that we're taking care of them.
At this time, one of the things that the Blue Dog Coalition has done is
we've written legislation known as H. Res. 97 that was drafted by members of the Blue Dog Coalition to ensure accountability for how the money is being spent in Iraq. At this time, I would call on one of the cochairs, the cochair for policy for the Blue Dog Coalition, and that is my dear friend, the cochair for policy for the fiscally conservative Blue Dogs, and this is Dennis Moore of Kansas who's going to talk more to us this evening about H. Res. 97, which simply is called, Providing for Operation Iraqi Freedom Cost Accountability, and I thank Congressman Moore for being a part of this Special Order this evening.
The gentleman from Kansas (Mr. Moore) is the cochair of policy of the fiscally conservative Democratic Blue Dog Coalition.
As you can see, the 2007 Iraqi war funding, the total cost, $135.2 billion; the cost per month, $11.3 billion; the cost per day, $370 million. That's about $16 million an hour. I helped dedicate and break ground on interstate I-530, which someday will connect I-30 and I-40 in Little Rock through Pine Bluff to I-69 in southeast Arkansas, which could create a economic revival in one of the poorest regions of the country, the delta region.
In my speech in Pine Bluff yesterday I couldn't help but point out in the last transportation reauthorization bill there was about $6 billion for new interstate construction for all of America for the next 5 years. That's about the amount we will spend in Iraq in the next 2 weeks.
Don't get me wrong, let me make it very clear, as long as we have troops in harm's way, I am going to support them and make sure we support them as a Nation in providing them the very best that money can buy and the technology and the equipment they need to do their job as safely as possible and return home to their families. We have to ask ourselves at some point, $16 million an hour going to Iraq means $16 million an hour we don't have to invest in our communities in America, that we don't have to invest in education and homeland security and veterans benefits, and the list is endless.
At some point, at some point we have to demand a new direction in Iraq and begin to invest in America again.
At this time, I would recognize our administrative cochair of the fiscally conservative Democratic Blue Dog Coalition, and that's my good friend, Allen Boyd from Florida.
I thank the gentleman from Florida (Mr. Boyd), the administrative cochair of the Blue Dogs for his insight and examples of waste, fraud and abuse that's going on with your tax money over in Iraq.
If you have got any comments or concerns or questions of us, you can e-mail us at [email protected]. That is [email protected].
Again, this is an hour where most Tuesday evenings we come and lead a discussion about accountability and fiscal discipline in our government by the Blue Dog Coalition.
If you are wondering how in the world did we get our name, Blue Dog Coalition, a lot of folks, especially in the South, have heard of a Yellow Dog Democrat, meaning you would vote for a Democrat even if it was a yellow dog as long as it was running as a Democrat. Somewhere along the way we were Yellow Dog Democrats that felt we were being choked blue by the extremes of both parties. Thus the name the Blue Dog Coalition, a group of fiscally conservative, commonsense Democrats that are trying to restore fiscal discipline and accountability to our government.
At this time I am pleased to turn this thing over to a former policy cochair of the Blue Dogs, the gentleman from Tennessee, Jim Cooper.
I thank my colleague and former policy cochair for the Blue Dogs from Tennessee, Mr. Cooper, for his insight on not only Iraq war spending but these other fiscal responsibilities, trying to restore fiscal responsibility to our government and those issues surrounding that.
You mentioned Medicare. Medicare is health insurance for, basically, it's the only form of health insurance most seniors have to either stay healthy or get well, not to be confused with Medicaid, which is health insurance for the poor, the disabled, and the elderly.
Your bill, as you discuss the entitlement programs and find ways to put an end to these deficits, I applaud you for trying to do this in a bipartisan manner and having support on both sides of the aisle.
Do you have any other examples you'd like to share with us on this legislation?
It was a fascinating discussion, and you raise a good point, and that is that it wasn't too long ago that Members of Congress were coming to this floor to debate how to spend a budget surplus, how to invest a budget surplus. You know, it was under President Clinton. I'm proud to say it was a fellow Arkansan from my home town of Hope, Arkansas, where I grew up and graduated high school, who gave us the first balanced budget of any Democrat or Republican President for the first time in what, 40 years?
And he did that. There were several contributing factors that allowed him to be able to lead us in that direction, one of which was having what's called PAYGO rules on the floor of this very House, something the Republican leadership threw out the door with this new Republican President back in 2001. And what PAYGO rules mean is it means pay as you go. PAYGO is an acronym for pay as you go, which means exactly what it sounds like it means. If you've got an idea for a new program that's going to cost money, you've got to show how you're going to pay for it. No more of just borrowing money from China. If you want to cut taxes for folks earning over $400,000 a year, you've got to show how you're going to pay for it. No more borrowing money from China.
And I'm proud to tell you that in this new Democratic Congress, there's a lot of discussion about the first 100 legislative hours where we raised the Federal minimum wage and where we implemented the 9/11 Commission recommendations, where we said Members of Congress who break the law will no longer receive a pension, where we passed earmark reform, where we have passed SCHIP to ensure that the children of working parents receive health care. We've done a lot in this session of Congress. Unfortunately, a lot of it is sitting over on the Senate's doorsteps waiting for Senate action, which is somewhat disappointing for a lot of us that come here every week and work hard to pass these policy initiatives that are good for working families, good for children and good for seniors.
But not in the first legislative 100 hours, not in the first 9 months of this new 110th Congress under a Democratic majority, but in the first hour on this very floor of the United States House of Representatives, this new Democratic Congress reinstituted a House rule known as PAYGO.
You want to expand on that?
That is a national security issue, in my opinion, Mr. Cooper. What if those countries decide to call those loans? What does that mean? The ``dream team,'' Mr. Rubin and the others told us today what it meant, and I think you asked the question. And it means higher interest rates. They will have to raise interest rates in this country to where it's attractive for other countries to buy our paper, to buy our money. That is, I think, directly a threat to our national security.
And to put it in perspective, the total national debt from 1789 through 2000 was $5.67 trillion. But by 2010, the total national debt will have increased to $10.88 trillion under this Republican President's administration and under his budgets that he sends to Congress. This is a doubling, a doubling, of the 211-year debt in just 10 years. Interest payments on this debt are one of the fastest-growing parts of the Federal budget, and the debt tax is one that cannot be repealed. For every man, woman, and child in this country, you take the national debt and divide by the number of people. It is about $29,000 per person. And that is one tax that cannot be cut until we get our Nation's fiscal house in order.
Our Nation, under this Republican President's budget, is borrowing about a billion dollars a day. But before we borrow another billion dollars a day, we are spending about a half billion paying interest on the debt we have already got.
This puts it in perspective. Interest payments on debt dwarf other priorities, the 2008 budget authority in the billions of dollars. The red box is the amount of money, your tax money, Mr. Speaker, that is going to pay interest on the national debt, to repay the loans to places like Japan and China and the United Kingdom and OPEC and Korea and Taiwan and the Caribbean Banking Centers and Hong Kong and Germany and Mexico.
We talk a lot about education. We talk about how we want our children to receive a world-class education. But the turquoise box, this box, Mr. Speaker, reflects how much of your tax money is going to educate our children compared with the amount going in the red to pay interest on the national debt.
We say we want to keep our promises to our veterans. We say we want to provide our veterans with world-class
health care and housing and education when they return home. But in the green box, Mr. Speaker, you will see the amount of money we're spending on our veterans compared to the red box, the amount of money being spent on interest on the national debt.
And, finally, the purple box, homeland security. Now, I came here in 2001. The first 9 months of 2001, I don't think I ever heard the word ``homeland security'' mentioned once. But that is now a household name, a household phrase, a household word. Homeland security. It make us feel good. We go through the metal detectors at the airport and we feel safer. We take our shoes off and I always take my pen out of my pocket, and we feel safer. And what most of us don't know is about half the belly of a plane is not your suitcase that you saw X-rayed. It's freight, freight that continues to go unchecked. About one out of every 100 containers that enter our ports, five out of every 100 containers, maybe 10 out of every 100 containers that enter our ports are checked.
And what about the food we put in our body? Mr. Speaker, for all the seafood and fruits and vegetables that come into this country from other countries by way of port, do you know how many FDA inspectors there are at those ports? Not per port. But for all the ports in America. For all the seafood, fruits, and vegetables coming into America from all over the world, there are about 70 FDA inspectors. Not per port, not per shift, not counting the ones that aren't sick or on vacation. There are 70 total. Homeland security, the purple box, this is how much we are really investing in protecting our homeland. And that is why a recent nonpartisan assessment indicated that we are less safe today in America than we were on September 11, 2001.
These priorities, education, veterans, homeland security, will continue to go unmet until we get our Nation's fiscal house in order.
Deficits matter. They reduce economic growth. They burden our children and grandchildren with liabilities. They increase our reliance on foreign lenders who, as Mr. Cooper pointed out, now own 40 percent of our debt. That's right. Our Nation, the U.S., is becoming increasingly dependent on foreign lenders. Foreign lenders currently hold a total of $2.199 trillion of our public debt. Compare that to only $623.3 billion in foreign holdings in 1993. It's kind of like David Letterman and his top 10 list. The top 10 countries, this Republican administration, this Republican Congress for the past 6 years time after time after time has borrowed money from foreigners to fund tax cuts in this country for folks earning over $400,000 a year.
And whom have we borrowed the money from? Japan, $637.4 billion; China, $346.5 billion; United Kingdom, $223.5 billion; OPEC, $97.1 billion; Korea, $67.7 billion; Taiwan, $63.2 billion; Caribbean Banking Centers, $63.6 billion; Hong Kong, $51 billion; Germany, $52.1 billion.
And rounding out my version of David Letterman's top 10 list, the 10th country that we have borrowed the most money from, number 10 on the list, all this debate these days about immigration policies, and I think we do need to secure the border and I think that we should have those who want to come here and live among us play by the rules, respect our laws, learn English, respect our flag. I believe those things. No amnesty, as Mr. Reagan gave us during his years in office. We learned that doesn't work. But rounding out the top 10, while everybody is focused on immigration: Mexico. The United States of America has borrowed $38.2 billion from Mexico to fund tax cuts in this country for folks earning over $400,000 a year. Those are the facts.
I am pleased to be joined by a fellow Blue Dog from the State of North Carolina, Mr. Mike McIntyre.
I yield to the gentleman.
Mr. Speaker, I thank the gentleman from North Carolina.
In the remaining four or five minutes we have, I want to turn this over to one of the founders, one of the long-time leaders of the fiscally conservative Democratic Blue Dog Coalition, and that is my friend from Iowa, Mr. Leonard Boswell.
I thank the gentleman from Iowa.
The gentleman from North Carolina.
Mr. Speaker, this evening you've heard from Blue Dog members from Kansas, Florida, Tennessee, North Carolina, Iowa and Arkansas. And we're a group of 47 fiscally conservative Democrats that are simply trying to restore common sense and fiscal discipline to our Nation's Government as we try to offer up commonsense, practical ways to put an end to this reckless spending and hold this government accountable for how your tax money is being spent.