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McCollum Statement on the President's FY2007 Budget

Date: Feb. 6, 2006
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net Government Budget and Spending


McCollum Statement on the President's FY2007 Budget
Monday, February 06, 2006

Washington D.C. - Today, President Bush released the Administration's $2.7 Trillion Fiscal Year 2007 Budget proposal to Congress. The fourth largest expenditure in the budget, after defense, Social Security and Medicare, is interest on the national debt. The following is a statement from Congresswoman Betty McCollum (MN-04):

"This budget requires $247 billion of interest to be paid on the national debt alone, exposing the Bush administration's dangerous addiction to deficit spending and foreign capital. This massive borrowing from Chinese and Saudi creditors to pay for special interest tax giveaways and the Iraq War is seriously jeopardizing America's economic freedom."

http://www.mccollum.house.gov/index.asp?Type=B_PR&SEC={EEBF410A-29FA-423D-B650-AF2FE9812AE5}&DE={3B6B6A4B-2817-45E2-9A16-491A6B782048}

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