OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Where Do We Borrow it From?

Floor Speech

Date: Feb. 3, 2009
Location: Washington, DC
Issues: Government Budget and Spending


WHERE DO WE BORROW IT FROM? -- (House of Representatives - February 3, 2009)

Mr. McCLINTOCK. Madam Speaker, when we speak of running up $2 trillion of debt to pay for this year of unprecedented spending, where does that money come from? We don't have it, so we borrow it. Where do we borrow it from? We'll borrow that $2 trillion from the same pool of funds that would otherwise have been available for employers seeking to add jobs, or homebuyers seeking to buy homes or consumers seeking to buy new cars and appliances. But now that money won't be there for consumers or homebuyers or employers to borrow to expand the economy because government has borrowed it instead to increase government programs like the National Endowment for the Arts.

Madam Speaker, when are we going to stop hurting the economy and start helping it?


Source
arrow_upward