Message From the Senate

MESSAGE FROM THE SENATE -- (House of Representatives - June 15, 2006)

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Mr. SHERMAN. Mr. Speaker, by this point just about every point has been made. But believe it or not, I would like to make a point that has not yet been stated on this floor.

I think we all realize that the development of Iraq, its ability to provide water and electricity to its people, will influence the level of casualties that we suffer, may even influence the result of success or failure of this mission. But what is not stated is how the debts of Saddam Hussein now crushing the existing regime in Baghdad are playing a role in preventing that development, a role in killing our soldiers.

Now, most oil rich countries borrow for development. They do not rely chiefly upon aid. Why can't Iraq with enormous oil wealth borrow? The answer is the huge debts incurred during the years of Saddam Hussein. In fact, on this floor many of us thought that half of that $19 billion of aid we gave in 2003 should be a loan, and we were told no, Iraq can't borrow, they have too many debts already.

Now, the well-known debts to Europe and Russia have been 80 percent forgiven. The secret debts, the ones that are never talked about, are the enormous debts claimed by Saudi Arabia, Kuwait, and other Gulf States detailed on this chart, totaling over $64 billion.

Now, much of the European money that was lent to Iraq was used for roads and oil wells, things of continuing value to the Iraqi people. But what did Saudi Arabia and Kuwait lend Saddam money for? To finance his war of aggression and death against Iran. So why does the State Department not have the courage to stand by the new Iraqi government in its declaration that these debts are odious, null and void, and need to be wiped off the balance sheet?

The question before us is whether the blood of Americans will be shed in order to pay the debts Saddam Hussein incurred.

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