Mike Ross

Mr. ROSS

Mr. ROSS. Mr. Speaker, it was September 26, 2002, I was sitting in the cabinet room of the White House with Condoleezza Rice, Andy Card, and President Bush, and the President explained to us that day, and I took notes and still have them, that Saddam Hussein had weapons of mass destruction; that Saddam Hussein was training terrorists on weapons of mass destruction; and that if military force was used, in President Bush's words, it would be swift. September 26, 2002. It is now June 15, 2006, some 2,500 soldiers have died and more than 18,000 injured, many like Kevin Pannel, from Glenwood, Arkansas, who have been injured in ways that will forever change his life and so many others. One thing we know for sure, Mr. Speaker, is that our intelligence failed us. There is not a more difficult decision that Members of Congress are asked to make than whether or not to send our men and women in uniform into harm's way. And when we are faced with making that decision, we must know our intelligence is right. This has been a war that has touched most families, and mine is no different. My brother-in-law spent Christmas in the Middle East supporting a mission to refuel Air Force aircraft over Afghanistan. My first cousin was in Iraq serving our country when his wife gave birth to their first child. We all have a story like that. We all know someone who has been there. I escorted a young woman and her two children to the White House this morning for a tour of the White House. They are in Washington, D.C. with her mom and dad on vacation. Her husband was in Iraq when she gave birth to their second child, and he is in Iraq today on his third mission in 4\1/2\ years. I want you to know that our men and women in uniform and their service to our country is much greater, much greater than that of any Member of Congress or any President could ever be, and tonight I honor them. There has been a lot of talk about this resolution that we will be voting on tomorrow. I have read it three times. It says that we support our troops, and I do. It says that we are against terrorists, and I am. It says that we are against a date certain for withdrawal from Iraq, and I agree with that, and so I plan to vote for this resolution tomorrow. But here is where I disagree with this President. This President is spending $279 million of your tax money in Iraq every 24 hours. And yet if you ask him to be accountable for it, if you ask him how he is spending that $279 million of your tax money in Iraq every day, he will tell you that you are unpatriotic. I disagree with that. I believe in accountability. I believe that this President, this administration and this Republican Congress, must be held accountable for the $279 million of your tax money that they are spending in Iraq every 24 hours. I also believe that this President lacks a plan. This resolution is full of saying things like, we support our troops, and I certainly do. It is full of things like saying, we are against terrorists, and I would hope we all are. But there is nothing in the resolution about how we are going to win, how we are going to win, and it is time for this President to give us a plan on how we can win in Iraq. Mr. Speaker, I was in Iraq. We had some 3,000 Arkansas National Guard troops there August 11, 2004, and I went to let them know we support them and to make sure some of this money was being spent on them and the equipment they need to get the job done. I visited with young soldiers from my hometown, soldiers I had taught in Sunday school, soldiers I had duck hunted with. And so I said to them, what do we need to be doing differently? They said we need to be hiring Iraqis to rebuild their nation's infrastructure. The insurgents are hiring them and they are accepting the money and lobbing cheap bombs at us. Why? Because they need to feed their family. And they also told me we need to be training a lot more Iraqis to take control of their military and police force. August 11, 2004. February 2006, as a member of the NATO Parliamentary Assembly I was in Brussels visiting the Ambassador to NATO, the U.S. Ambassador to NATO, at his home. I visited with the Iraqi Ambassador there, and I asked him the same question. And you know what? Some 2 years later, he gave me the same answer. It is time for this President, this Congress, to give us a plan to establish a democracy, to win the peace, a plan that will eventually allow us to bring our men and women in uniform home.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I ask unanimous consent to speak out of order for 5 minutes.

Mr. ROSS. Mr. Speaker, I come to the floor tonight deeply concerned about the future of our Nation's farm economy and the well-being of our farmers and ranchers. America's farm families provide the most safe, reliable and abundant source of food and fiber in the world. The security of our Nation's domestic food supply is critically important to the security of our homeland. We must continue to provide our farm families with the tools and resources necessary to continue producing our food and fiber to ensure we never become as dependent on foreign countries for our food as we are for our oil today. I was extremely disappointed in this Republican Congress and their decision to cut agriculture disaster funding during conference committee negotiations of the emergency supplemental appropriations bill last week. I was also struck by the fact that the administration even weighed in by threatening its first veto ever of this supplemental if it contained disaster assistance for our farm families. Making these cuts on the backs of our farmers and ranchers when they are struggling to make ends meet is unconscionable. Mr. Speaker, it is about priorities, and the decision made by this Republican Congress and administration does not reflect the commonsense priorities and values that many Arkansans and I were raised on and still believe in. Agriculture is Arkansas' largest industry and ranks among the top 10 States in the production of rice, poultry, cotton, catfish and baitfish. In fact, one in every five Arkansas jobs is directly related to agriculture. According to a forecast by USDA's Economic Research Service, farm income is estimated to decline by $16.5 billion in 2006 as a result of increased production costs and reductions in market assistance. Reduction in farm income, combined with the hardships experienced during the 2005 crop year, will lead our Nation's farm economy into the worst decline of the 21st century. As you can see from the poster here, Mr. Speaker, the red line, the top line, indicates the amount of money that it costs our farmers to grow crops. The bottom line demonstrates the amount of money they have received. They are losing money. In 1985, farmers spent anywhere from $80,000 to $85,000 on a new tractor. Today, a farmer will spend anywhere from $140,000 to $150,000 on a new tractor. As the chart shows, our farm families have seen a steady increase in the cost to produce their crops, while at the same time the prices they receive for their crops remain the same and are lower than they were 10 years ago. In fact, in 1980, cotton was going for 60 cents a pound. Today, it is 42 cents a pound. Rice was going for $11.50 per hundred weight. Today, it is $7 per hundred weight. Soybeans, in 1980, $5.71 a bushel. Today, just a slight increase, at $6.09 a bushel. In 2005, our Nation's farm families faced severe droughts, hurricane damaging winds and other natural events causing damage and devastation to their crops and livestock. Americans have been hit hard by the drastic increase in gasoline, diesel and natural gas prices. Our Nation's farm sector relies heavily on diesel fueled farm equipment to plant, harvest and transport their products to market. Increased fuel, fertilizer and other record high input costs have pushed many farmers out of business altogether, forcing them to auction off their family farms. I have been urging this Republican Congress and administration to pass disaster assistance for our farm families since September of last year. I stand here tonight holding this binder, a binder recently presented to me by Ken Shea of Dumas, Arkansas. It is filled with farm auction after farm auction, fliers, notices of bankrupt farm families from Arkansas. Even if a disaster bill was passed today, it would be too late for these farm families and many others who are trying desperately to avoid bankruptcy. Every day that passes without providing disaster assistance, more families are auctioning off their farms. I am a cosponsor of H.R. 3702, an agriculture disaster assistance bill which was introduced in September of last year. Mr. Speaker, I stand here tonight urging the Republican leadership to give us a hearing and a vote on this bill.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I rise today to recognize Charre Todd of Crossett, Arkansas who was recently awarded the 2005 Presidential Award for Excellence in Mathematics and Science Teaching. This award is the Nation's highest honor for teaching in the fields of math and science. This annual presidential award was established by Congress in 1983. It provides special recognition to outstanding educators in the fields of mathematics and science for all 50 states, the District of Columbia, Puerto Rico, the U.S. Territories, and the U.S. Department of Defense Schools. I have always held education in the highest regard. As parents, educators, and public officials, we have an obligation, a moral duty, to ensure that students, from pre-school to high school and beyond receive the highest quality education possible. By properly educating our students and providing them with the tools they need in order to become successful adults, they will thrive in today's fast-paced and technological world. The most important component to our children's education is our teachers. Today, more than ever, our educators face new obstacles and challenges. As the son of public school educators, I have a deep respect and gratitude for all educators and their personal commitment to our children. America is deeply indebted to top-notch educators, such as Charre Todd, for their continued excellence in the classroom and commitment to our students. Today's teachers shape the very foundation of America's future. I am honored to recognize Mrs. Todd for her outstanding work, and extend my sincere gratitude for her dedication to educating our young people. Mrs. Todd is an inspiration to us all, and I consider it a privilege to serve as her United States Congressman in the House of Representatives.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I rise today to honor the memory of Hugh C. Reynolds of Fordyce, Arkansas. Strong leadership, vision, concern for others, and philanthropy were enduring legacies left by H.C. Reynolds. He passed away on Saturday, May 6, 2006 at the age of 85, after having served his nation, state, and the city of Fordyce with distinction. I would like to recognize Mr. Reynolds' contributions to Arkansas and our Nation. H.C. Reynolds was born August 5, 1920 to the late Hugh Cleveland and Ruth Sisson Reynolds in Fordyce. He was a dedicated member of Fordyce First Baptist Church and a Shriner. Mr. Reynolds will forever be remembered for his bravery, leadership, and compassion. He served his nation as an Army Veteran of World War II and was a lifelong member of the Democratic Party. He also recently resigned as Chairman of the Dallas County Democratic Committee. He was preceded in death by his wife, Frances Keenum Reynolds and a brother, William Reynolds. My deepest condolences go out to his sister, Mary Ruth Creech of Camden; his son, Collins Reynolds and wife Janie of Bismark; his daughters, Linda Hankins and husband Troy of Pine Bluff, Vickie Gray and husband Paul of Hot Springs; his five grandchildren, and six great-grandchildren. Mr. Reynolds' legacy and spirit will live on in those who lives he touches.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I rise today to commemorate the life and accomplishments of Sam Pierson, who passed away on the 25th of January. Sam was an admired and cherished member of the Lewisville, AR, community, and I would like to take a few moments to recognize his achievements. Mr. Pierson was born on February 10, 1931, in Bebee, OK. As a dedicated law enforcement officer, Sam served as the Lewisville city marshall in 1968 and the Lafayette County deputy in 1980. Sam then served as the Lewisville chief of police from 1985 to 1998 and most recently as the Lafayette County sheriff from 2001 to 2002. He was extremely respected among his colleagues, and was a member of the Arkansas Sheriff's Association and the National Association of Chiefs of Police. In addition to his remarkable achievements in public service, Sam Pierson also served his country. He was a veteran of the Korean war, where he was wounded and received a Purple Heart. He was also a member of the Oklahoma National Guard 45th Division and a member of the American Legion. I am deeply saddened by the death of Sam Pierson. His passing will leave a void in Lafayette County, the city of Lewisville, and in the lives of his family and many friends. While Mr. Pierson may no longer be with us, his spirit and legacy will live on forever in the lives he touched. My most heartfelt condolences go out to his wife, Maebell Pierson; their 3 sons, George and wife Mary Ann Pierson, John and wife Billie Joe Pierson, and Joe and wife Sheila Pierson; their 3 daughters, Kay and husband Hoppy Higgins, Linda and husband Wayne Etue, and Samantha and husband Michael Henry; his 3 brothers, Jimmy Milligan, Doug Milligan, and Charles Milligan; his 4 sisters, Daisy Neff, Georgia Cox, Vadia Ross, and Barbara Muntz; his 15 grandchildren, 14 great grandchildren, and a host of other relatives and friends.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I rise today to honor the life of Charles Richard ``Rick'' Lippard of Booneville, AR, who passed away on March 9, 2006. Rick was born on May 31, 1946, and I wish to recognize his life and achievements. A graduate of Bauxite High School, the University of Arkansas, and the University of Arkansas School of Law, Rick started a law practice in Booneville in 1970. Throughout his legal career, he served as Booneville City Attorney, Logan County Deputy Prosecutor, Public Defender, and Booneville Municipal Judge. He was also a member of the American Bar Association and the Arkansas Bar Association. Rick was also extremely active in the Booneville community where he was President and member of the Booneville Chamber of Commerce, a member of the Booneville Parks and Recreation Commission, a Member of the USDA Committee, President, Paul Harris Fellow, and member of the Booneville Rotary Club, Booneville Little League Coach and board member of First Western Bank. In 2003, Rick was diagnosed with Amyotrophic Lateral Sclerosis, ALS, and true to his nature, passionately volunteered in whatever capacity possible. He volunteered tirelessly for the Fort Smith Chamber of Muscular Dystrophy Association, MDA, and the Memphis and Arkansas Chapters of the ALS Association. As a man of faith, Rick taught the McLean Bible Study Class at First United Methodist Church and was a devoted member of the Walnut Grove Cumberland Presbyterian Church. Rick spent a lifetime dedicated to the community of Booneville and will be deeply missed. My deepest sympathies go to his wife, Elaine; his three daughters, Lisa, Laura and Lesley; his three sons, Billy, Justin and Kyle; and his sister, Sharon. While Rick may no longer be with us, his legacy will live on in the lives he touched.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I rise today to honor the memory of Reverend Brisco James ``B.J.'' Jackson of Crossett, Arkansas. Reverend Jackson dedicated his life to serving others through ministry. He passed on an enduring legacy with his strong leadership, vision, and concern for others. Reverend Jackson passed away on Saturday, May 6, 2006 at the age of 83. Rev. Jackson was born in Shelton, LA to James and Mittie Jackson and raised in Oak Ridge, LA, by his grandmother, Maggie Lewis. In 1943 he moved to Crossett, where he was employed by Crossett Lumber Co. Throughout his impressive career, Rev. Jackson joined New Bethel Missionary Baptist Church, where he served on the usher and deacon boards. He became a minister in 1949 and served as pastor at Ivory Chapel Baptist Church in Bastrop, LA, Mt. Zion Baptist Church in Monroe, LA, Rose Hill Baptist Church in Dermott, and Holly Springs Baptist Church in Pine Hill. In 1950, he became pastor of New Bethel and became full-time pastor in 1966. Rev. Jackson's commitment went far beyond his activities as pastor; he was passionate about giving back through other community service as well. In addition to serving as pastor of New Bethel, he was moderator of the Southeast District Baptist Association for 29 years, second vice president of the Regular Arkansas Baptist Association, and instructor of the ministers' seminar in the association for over 20 years. Reverend Jackson was also president of the Williams Daycare Center board of directors, a 32nd degree Mason, a member of Exodus Lodge 403 of Crossett and Scottish Rites Angerona Lodge 78 in Pine Bluff, and a member of Eastern Star of Silver Star Lodge 306 in Crossett. A man of great character, he returned to high school at the age of 31 and graduated from T. W. Daniel in 1959. He was also a graduate of United Theological Seminary in Monroe. While Rev. Jackson may no longer be with us, his spirit and legacy will live on forever in the lives he touched. My heartfelt condolences go out to his wife of 62 years, Sallie Lee Jackson; their daughters Hazel Hill, Betty Levy, Bobbie Hendrix and husband John; their son Charles Jackson and wife Mary; his sister Leola Coleman; his fifteen grandchildren; twenty-eight great-grandchildren, and three great-great- grandchildren.

Mr. ROSS

Mr. ROSS. Mr. Speaker, this evening I rise on behalf of the 37-member strong fiscally conservative democratic Blue Dog coalition. We are 37 fiscally conservative Democrats that are united in the name of fiscal discipline and common sense. We are very concerned about the debt, the deficit, and the future of this country that we are leaving for our children and grandchildren. As you can see right here, today, the United States national debt is $8,369,917,837,082 and some change. And if we divide that number by every man, woman, and child, including those being born today, everyone in America's share, including the children, amounts to about $28,000. It is what we call the debt tax, D-E-B-T, and that is one tax that cannot go away until we get our Nation's fiscal house in order. Because, Mr. Speaker, you see, our Nation is spending about $.5 billion a day not paying principal but simply paying interest on the national debt. One half billion dollars a day. Give me 3 days' interest on the national debt and I can build Interstate 69 through Arkansas. Give me another 3 days' interest on the national debt and I can complete Interstate 49 in Arkansas. Give me less than a day's interest on the national debt, and I can complete the Hot Springs Expressway. Give me less than a day's interest on the national debt, and I can complete I-530 through Arkansas. Give me a couple days' interest on the national debt and I can make the Red River navigable all the way up to Fulton, Arkansas, at Interstate 30. It is these type of priorities that can create economic opportunities and jobs for our people that will continue to go unmet until our Nation, until this Republican Congress gets its fiscal house in order. You will find these posters, Mr. Speaker, that change daily. Unfortunately, the number continues to increase daily. But you will find these posters by the door to every one of the 37 members of the fiscally conservative Democratic Blue Dog coalition. You will find this by our doors in the halls of Congress because we want America to know. We want America to know that this reckless spending, this reckless spending that has been provided to us under the leadership of this Republican Congress must stop. You know, this is the first time in well over 50 years that the Republicans have controlled the White House, the House, and the Senate. And what have they given us? They have given us failure after failure. They failed in the aftermath of Hurricane Katrina. They failed with their energy policy. They have failed with their war policy in Iraq. They have failed with their Medicare prescription drug plan implementation. And they have failed by giving us the largest deficit ever in our Nation's history for a fifth year in a row. The projected deficit for fiscal year 2007? You will hear a lot of people say it is $350 billion. Not so. The real deficit for fiscal year 2007 is $545 billion. Because, you see, when the Republican leadership tells you the deficit is $350 billion, and that is bad enough, it is one of the largest deficits ever in our Nation's history, but the reality is when they say it is $350 billion, they are counting the money that they are borrowing from the Social Security Trust Fund. Without the Social Security Trust Fund, the real deficit projected for fiscal year 2007 is $545 billion. The first bill I filed when I got to Congress was a bill to tell the politicians in Washington to keep their hands off the Social Security Trust Fund. Now I am beginning to understand why the Republican leadership refused to give me a hearing or a vote on this bill, because today they are using the Social Security Trust Fund to help pay for this reckless spending, this deficit spending. But this is not new. In fiscal year 2006, the deficit was $372 billion. In 2005, it was $318 billion. In 2004, it was $412 billion. In fact, this Republican administration, this Republican Congress has given us a deficit every year since 2002. It is hard now to believe that we had a balanced budget in this country from 1998 through 2001, but we did. And why is this important? Why is this important? The total national debt from 1789 until 2000 was $5.67 trillion. But by 2010, the total national debt will have increased to a whopping $10.88 trillion. Mr. Speaker, 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, D-E-B-T, is one tax that cannot be repealed. The current national debt: $8,369,917,837,082 and some change. Each individual's share of the national debt, including every man, woman, and child alive tonight, is somewhere around $28,000. Well, the average household income in my district is not much more than that, Mr. Speaker. Yet it would take that amount of money from every living man, woman, and child in this country to wipe out this national debt. It is time for this Republican Congress to stop this reckless spending. It is time for this Republican Congress to address our Nation and its spending habits with a good dose of common sense. Now, why do deficits matter? Deficits reduce economic growth. They burden our children and grandchildren with liabilities. We spend today, and it is our children and grandchildren that get stuck with the bills. They increase our reliance on foreign lenders, who now own about 40 percent of our debt. That is right, this President and this Republican Congress has borrowed more money from foreign central banks and foreign investors in the past 5\1/2\ years than the previous 42 presidents combined. The U.S. is becoming increasingly dependent on foreign lenders. Foreign lenders currently hold a total of about $2 trillion of our Nation's public debt. Compare this to only $23 billion in foreign holdings back in 1993. So who do we owe all this money to? The top ten current lenders are: Japan. We have borrowed, our Nation has borrowed, this Republican Congress and this Republican administration has borrowed $640.1 billion from Japan. China, $321.4 billion. As my friend John Tanner has pointed out, if China decides to invade Taiwan, we will have to borrow more money from China to defend Taiwan. This is a dangerous path that we are going down as a Nation, owing all this money to foreign central banks and foreign investors. The United Kingdom. We have borrowed, our Nation has borrowed $179.5 billion from the United Kingdom. OPEC. And we wonder why gasoline is approaching three bucks a gallon. Our Nation has borrowed $98 billion from OPEC. Korea, $72.4 billion. Taiwan, $68.9 billion. The Caribbean banking centers, $61.7 billion. Hong Kong, $46.6 billion. Germany, $46.5 billion. And Mexico. Imagine that, our Nation has borrowed $40.1 billion from Mexico. To do what? To finance the war in Iraq, to finance tax cuts for those earning over $400,000 a year. And the list goes on and on. Again, our national debt is $8,369,917,837,082 and some change, and this is just a small sampling of where $2 trillion of that debt has come from. It has come from foreign central banks and foreign investors. Mr. Speaker, if you have any questions or comments or concerns about what I am talking about tonight as it relates to the debt and the deficit and trying to restore some common sense and fiscal discipline to our Nation's government, I invite you to e-mail us at BlueDog@mail.house.gov. Again, there are 37 members of the fiscally conservative Democratic Blue Dog Coalition. Our mission is to restore some common sense and fiscal discipline to our Nation's government. Again, Mr. Speaker, if you have any comments, questions or concerns to raise with us, I would encourage you to e-mail us at BlueDog@mail.house.gov. I do not raise these issues to simply beat up the Republicans. They are doing a pretty good job of that on their own these days. Public opinion polls indicate that. There is an all-time low approval rating with their leadership in this House and the Senate, with the White House and the Supreme Court. But I raise these issues to set the stage for the Blue Dog 12-point reform plan. We have a 12-point plan for curing our Nation's addiction to deficit spending. Number one, require a balanced budget. Forty-nine States require a balanced budget. I know at the Ross home in Prescott, Arkansas, my wife requires us to have a balanced budget. I do not believe it is asking too much of our Nation to have a balanced budget. Number two, do not let Congress buy on credit. Every time a Member of Congress comes down here and wants to introduce legislation to fund a new program, they should have to show us which program they are going to cut to fund that new program. Put a lid on spending. This Republican Congress just from 2001 to 2003, their government spending soared by 16 percent. We want to put strict spending caps to slow the growth of runaway government programs. Number four, require agencies to put their fiscal houses in order. According to the Government Accounting Office, 16 of 23 major Federal agencies cannot issue a simple audit of their books. Worse, the Federal Government cannot account for $24.5 billion it spent back in 2003. This is the kind of leadership this Republican Congress has given America. Government auditors should be doing a better job of tracking taxpayer dollars. We want to restore accountability to our government. Number five, make Congress tell taxpayers how much they are spending. Many spending bills slide through Congress on a voice vote with no debate, and many Members vote on bills without knowing their true cost. The Blue Dog Coalition proposes that any bills calling for more than $50 million in new spending must be put to a roll call vote. Set aside a rainy day fund. That is common sense. We all know we are going to be faced with unexpected happenings and disasters. Do not hide votes to raise the debt limit. We should have a separate stand-alone vote when this Republican Congress proposes raising the debt limit instead of hiding it in another bill. Justify spending for pet projects. And ensure that Congress reads the bills it is voting on. Now we cannot do that, but think about this, over the past few years, some of the largest spending bills in American history have been voted on after only a few hours of consideration. For example, the Medicare prescription drug bill, remember that one, now estimated to cost $720 billion or more over the next 10 years, went to a vote barely a day after the final version of the 500-plus-page bill was made available to Members of Congress. As members of the Blue Dog Coalition, we propose that Members of Congress should be given a minimum of 3 days to have the final text of legislation made available to them before there is a vote. Require honest cost estimates for every bill that Congress votes on. Make sure new bills fit the budget. That is why we have a budget. Finally, make Congress do a better job of keeping tabs on government programs. Again, getting back to the word ``accountability.'' So, Mr. Speaker, I am not here tonight to simply lay blame on this Republican leadership for the largest deficit ever in our Nation's history. I am here to offer up a plan, the Blue Dog Coalition's 12- point reform plan, for curing our Nation's addiction to deficit spending.

Mr. ROSS

Mr. ROSS. Mr. Speaker, the gentleman makes an excellent point. And look, I am not against tax cuts. I voted for the biggest tax cut in 20 years back before 9/11. It was back before Iraq, Afghanistan. It was back when we had a surplus. We were really giving people some of their money back. But this notion that you can give tax cuts in times when you do not have a surplus, in times of deficit spending to provide tax cuts for those earning over $400,000 a year, and to accomplish that and pay for that by cutting programs like Medicaid and Medicare and student loans, and borrowing the rest from places like China and Japan, that may be a tax cut on these earning over $400,000 dollars a year today, but it is a tax increase on our kids. It is a tax increase on our children and our grandchildren. Mr. Speaker, it is about priorities. We have $3 dollar gasoline. There is a lot of talk from the Republican leadership. Well, there was one proposal where they want to give us $100 close to election time. They want to give us $100 and tell us to get over it and get used to it.

Mr. ROSS. Let me tell you, as a Member of the House Energy and Commerce Committee, I can tell you that these are the facts. The Republican leadership talks a lot about alternative and renewable fuels. Biomass refineries, grants to create biomass refineries for all of America for the next 365 days totals $100 million. We will send nearly three times that much money to Iraq in the next 24 hours. It is about priorities. This President has announced already that if this supplemental appropriations bill includes funding for disaster payments for our farm families here in America who have suffered through one of the worst droughts in this Nation's history that he will veto it, the first veto of this administration after 6 years. Again, it is about America's priorities, and America's priorities are found all over this Republican budget for fiscal year 2007. A budget that should reflect the priorities and values of our Nation, a budget that may very well be debated and voted on on the floor of this chamber sometime this week. Well, Mr. Speaker, the Republican majority has had a difficult time bringing a proposal to the floor for a vote. This is because they cannot find consensus within their own party about the choices made to cut programs that are essential to the most vulnerable in our Nation, while increasing record deficits by providing tax cuts to those making over $400,000 a year. If they fail to pass a budget, it will be the first time in three decades that the House has not adopted a blueprint, a budget blueprint. But if they succeed, the damage to our Nation and those we represent will be devastating. Since this administration took office, it has requested and this Republican controlled Congress has provided four increases, four increases in the statutory debt ceiling totaling $3 trillion. Under this budget, the statutory debt by 2011 will increase by another $2.3 trillion for a total increase of $5.3 trillion. As you can see, as of tonight our national debt, $8,351,683,340,530 and some change. While Republicans say their objective is to restore fiscal discipline to our Nation, this budget does not lead us in that direction. While tremendous cuts are made to programs that serve a majority of Americans, the Republican budget includes $228 billion in new tax cuts that will benefit only a small few, mostly those earning over $400,000 a year. As a result, their budget resolution continues to deficit spend over $400 billion for the next 5 years. These deficits mean that under Republican policies, the five largest deficits in history will have occurred in the five consecutive years that they have controlled this Congress, the White House, this Senate, and the Supreme Court. This is not how the American people want our government to function. The American people want a good dose of common sense. They want an end to all this partisan bickering. They want to see one America again. Cutting vital programs for those who are most in need to provide a tax cut to the wealthiest among us is morally unconscionable. The Republican proposal eliminates 42, 42 education programs including those that support vocational education, college-readiness programs for low-income students, and family literacy programs. Overall, both the President's budget and the House Republican resolution cut funding for the Department of Education by $2.2 billion below the comparable 2006 level. This is the second year in a row that the Republicans will cut Federal education funding despite the need for school districts to meet demanding standards under the federally mandated No Child Left Behind law. This funding level does not meet the educational needs of America's students. It fails to provide assistance to nearly 4 million children eligible for title I services and 2 million children eligible for afterschool services that enhance student achievement. For the many families that are trying to send their children to college, their proposal cuts aid for students to help pay for college. It freezes the maximum Pell grant award at $4,050 right where it has been since 2003, while the average tuition and fees at 4-year public colleges have risen nearly $1,400. As a parent with a child who will be attending college in the next couple of years, I understand firsthand the increasing costs of tuition and the need to provide assistance to those seeking higher education Some of the most egregious cuts in the Republican budget adversely impact the most vulnerable Americans. The Republican proposal is largely consistent with the President's budget in its effect on safety net programs such as housing, child care, and nutrition assistance. The President's budget eliminates over $100 million for the commodity supplemental food program which provides nutrient-rich food packaging for low-income women, infants, children, and senior citizens. The program serves 420,000 elderly and 50,000 mothers and their children each month. The House Republican budget imposes even deeper cuts to these type of programs than the President's budget. Like the President's budget, the Republican proposal freezes child care for 2007 at the 2006 level and cuts funding for the following years. These are just a few examples of the misplaced priorities that this Republican-controlled Congress has for our country and why it is important to oppose these cuts. I urge my colleagues to reject these cuts and take action to begin an honest dialogue to pass legislation that will provide needed resources for the majority of our Nation. It is time to pass a budget that reflects America's priorities. Not the priorities of a divided America, but the priorities of a united America. Mr. Speaker, I am convinced we can do that. We can do that, and we can have a balanced budget. It is about priorities. It is about making the difficult decisions that will allow us to pay down this debt, to stop this deficit spending. We can do it. We can do it by beginning with one of the Blue Dog proposals which requires our Nation to have a balanced budget, something 49 States are required to do, something I helped do as a State senator in Arkansas for 10 years. With that, I yield to my friend, Mr. Scott from Georgia.

Mr. ROSS. Mr. Speaker, I appreciate the gentleman from Georgia for joining me this evening, and he is right. I am concerned, as he is, about America's security. Some people will say, well, there has not been another attack in America since 9/11, and I submit to you that is true and we have been real lucky. We have been lucky. We have been lucky because it is very clear that our border is not secure with Mexico or Canada. It is clear that while we take our shoes off and we go through the metal detectors at the airport and while our suitcases are X-rayed, the freight which can take up as much as a quarter to half of the belly of a plane continues to go unchecked. All the containers, for the most part, coming into our ports remain unchecked. I submit to you that instead of having a budget that is going to be debated on this floor this week that calls for $228 billion in tax cuts for folks earning over $400,000 a year, let us invest in America's security. Let us make those ports secure. Let us make our borders secure. Let us check the freight on the belly of those commercial airplanes. Let us invest in America again.

Mr. ROSS. Mr. Speaker, I rise on behalf of the 37-member strong, fiscally conservative Democratic Blue Dog Coalition. There are 37 of us that are Democrats. We are fiscal conservatives and we are concerned about the debt and the deficit that plagues this great Nation ours. In fact, you can see here, the Blue Dog coalition today, the United States national debt is $8,361,683,340,530 and some change. Now, for every man, woman and child, including those born today, their share of this enormous national debt is about $28,000. It is what we call the debt tax, d-e-b-t. That is one tax that cannot go away until we get our Nation's fiscal house in order. It is hard now to believe that from 1998 to 2001 we had a balanced budget in this country. Things were going pretty well. Now, what do we have? We have gasoline prices that are up 80 percent, health care up 50 percent, higher education, college costs up 40 percent. Things are not going so well. Mr. Speaker, I submit to you, it is directly related to this debt, the largest debt ever in our Nation's history, this deficit, the largest deficit ever in our Nation's history. You know, the projected deficit for fiscal year 2007 is $348 billion. But the reason it is $348 billion is because they are borrowing, our government is borrowing from the Social Security trust fund. The projected deficit for fiscal year 2007, not counting the Social Security surplus; in other words, if the politicians in Washington kept their hands off the Social Security trust fund, the real deficit for fiscal year 2007 is $548 billion. The first bill I filed as a Member of Congress was a bill to tell the politicians in Washington to keep their hands off the Social Security trust fund. Now I am beginning to understand why the Republican leadership would not give me a vote, even a hearing, on this bill, because they are now using the Social Security trust fund to run our government to pay for tax cuts to those earning over $400,000 a year in this manner of reckless spending that we are seeing going on, in fact, for the sixth year in a row. The 2006 deficit, $372 billion. Not counting the Social Security surplus, it was $605 billion. In fiscal year 2005, it was $318 billion; if you don't count the Social Security surplus, Social Security trust fund, it was $494 billion. Fiscal year 2004, $412 billion deficit, and it goes on and on. My point is this, Mr. Speaker, our Nation is borrowing $1 billion a day. We are spending $279 million every day to Iraq. But don't ask this administration for a plan on how that money is being spent. Don't ask this administration to be accountable for that $279 million a year tax money going to Iraq every day, because if you do, they will tell you they are unpatriotic. $57 million every day going to Afghanistan, and billions more going to pay for tax cuts for folks earning over $400,000 a year. Mr. Speaker, I submit to you this reckless spending that we are seeing in this country must end. As members of the Blue Dog Coalition, we have a plan, we have a 12-point plan for meaningful budget reform that will get our Nation's fiscal house in order. We will talk more about that in a little bit. We will talk more about the budget that may come to the floor of this Chamber in a little bit. The other point that I want to make is in addition to the billion dollars a day that our Nation is borrowing, the debt is already $8.3 trillion. It is going up to the tune of about $1 billion every day. So it is $8.3 trillion and growing. On that $8.3 trillion in debt, our Nation is spending about half a billion dollars a day simply paying interest on the debt we already got. No principal, just interest. Some people say, well, none of this really matters. But it does, and it should matter to everybody in America, because that is a half a billion dollars a day that cannot go to fund America's priorities until our government gets its fiscal house in order. In my congressional district, which spans about half of Arkansas, I have got I-49 on the western side of the State. We need $1.5 billion to complete that interstate that can create all kinds of jobs and economic opportunity. That is a lot of money until you look at it this way and you realize, oh, my goodness, we could finish that interstate with just 3 days' interest on the national debt. On the eastern and southern part of my district we have I-69 under way. I need $1.6 billion to finish it. Again, just for 3 days, interest on the national debt, I could complete I-69 in Arkansas. I could four- lane U.S. highway 167 from Little Rock to El Dorado on 1 day's interest on the national debt. Give me a few hours interest of the national debt, I can finish that expressway around Hot Springs National Park, Arkansas. My point is that whether it is education, health care, roads, whatever it might be, America's priorities continue to go unmet until we get our Nation's fiscal house in order. Now, in a little bit, we will be talking more about our foreign debt and about the Blue Dog 12-point plan to budget reform, which includes a balanced budget amendment. We will be talking more about the budget that may come to the floor of this Chamber this week. But at this time, I am pleased to turn this microphone over to a real leader within the Blue Dog Coalition, someone that really understands fiscal discipline and someone that I am very pleased and honored to have join me this evening. That is the gentleman from Georgia, my friend, David Scott.

Mr. ROSS. Mr. Speaker, I thank the gentleman, Mr. Scott from Georgia for joining me this evening. I appreciate his leadership within the 37 Member strong fiscally conservative Democratic Blue Dog Coalition. We are here on the floor talking about the budget, the debt, the deficit late into the evening on Tuesday because America, America has a debt that is out of control. It has a deficit out of control. Mr. Speaker, it is time to restore some common sense and fiscal discipline to our Nation's Government. Mr. Scott just talked about priorities, about how this Republican Congress is clearly in the majority for the first time in well over 50 years. They control the White House, the House, the Senate, and now the Supreme Court. And they voted against funding border security. And yet the budget that will be presented on this floor this week calls for $228 billion, that is with a B, in tax cuts that primarily benefit those earning over $400,000 a year. Mr. Scott, I do not know about in your district, but I do not have a lot of folks in my 150 towns and all the square miles that I represent that earn $400,000 a year. I yield.

Mr. ROSS. Mr. Speaker, I thank the gentleman from Georgia. Mr. Speaker, if you have any comments or concerns or questions for us, you can e-mail us at bluedog@mail.house.gov. That is bluedog@mail.house.gov. Next Tuesday night, Mr. Speaker, I will return to this House floor to talk about the plight of our farm families across this country, the disasters they face this year ranging from droughts in parts of the country to the needs in other parts of the country, to the hurricanes, a real concern among the Blue Dog Coalition about the plight of the family farmer. It is every bit as critical to our Nation's security so that our farm families can provide us with a safe and secure source for food and fiber. That is just as critical to us as our energy sources are. We will be talking more about that on the floor next Tuesday night.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I move that the House do now adjourn.

Mr. ROSS

Mr. ROSS. Mr. Speaker, I rise this evening as whip of the 37-member strong fiscally conservative Democratic Blue Dog Coalition. I rise this evening on behalf of the Blue Dogs, who are very concerned about this, our Nation's debt, which is $8,353,429,193,726 and some change. That means for every man, woman and child alive in America at this moment, it means their share of the national debt is $28,000. Many of America's priorities will continue to go unmet until we get our Nation's fiscal house in order. I plan to spend a good part of this hour discussing the debt and the deficit, but I just heard some things from a group that calls themselves the Official Truth Squad. They had the nerve to come to the floor of the United States House of Representatives and say it is the Democrats that are responsible for $3-a-gallon gasoline at the gas pump. But the best one of all was when they blamed it on former President Clinton. Mr. Speaker, give me a break. The American people know for the last 5 years and for the first time in 50 years, the Republicans control the White House, the House and the Senate. It is they who have failed to give us an energy policy that will allow us to become less dependent on foreign oil. They know that Democrats like myself have tried time and time again to reduce our dependence on foreign oil. We have a bill in committee, in the Committee on Energy and Commerce, of which I am a member. We have a bill in the committee that mandates 10 percent ethanol in all gasoline and 5 percent biodiesel in all diesel fuel, and yet the Republican leadership refuses to give us a hearing let alone a vote on this bill that will reduce our dependence on foreign oil. It will create new markets for America's farm families. It will mean that we pay 60 to 70 cents less per gallon at the pump; and yes, it will reduce our dependence on foreign oil. When we talk about alternative and renewable fuels, don't let anyone tell you that is too futuristic. I am here to tell you if we can strap a four-wheeler on a rocket and shoot it to Mars and control it from NASA's headquarters in Houston, it is American people that did that, and in America we have people with the know-how to create alternative and renewable fuels; not only ethanol and biodiesel, but many other forms that will reduce our dependence on foreign oil. It was last August, 8 months ago, last August that I went to all 29 counties in my congressional district and called on the President to suspend deliveries to the Strategic Petroleum Reserve, and I did this because I know it is a short-term solution, and it works. President Bush's daddy did it in 1991, and the price of a barrel of oil dropped $11 overnight. President Clinton did it in 2000, and the price of a barrel of oil dropped $6. My question is why did it take this President 8 months to decide to announce today something I called for him to do last August, and that is to suspend deliveries to the Strategic Petroleum Reserve? It is 8 months too late, and that means we have lost a number of farm families that will not be back in the business of providing America with a safe and reliable source for food and fiber. If we are not careful, we are going to become just as dependent on foreign countries for our food and fiber as we have for our energy supplies. So I am very concerned that tonight all we heard from the Republican side of the aisle and this so-called Truth Squad is that it is the Democrats and President Clinton that are responsible for the high prices of gasoline. Let me say that the American people are sick and tired of the partisan bickering going on the floor of the House of Representatives. Mr. Speaker, it should not matter if it is a Democrat or Republican idea; it should only matter if it is a commonsense idea, and does it make sense for the people that send us here to be their voice. I am going to continue to push for ethanol and biodiesel and other renewable and alternative fuels that will reduce our dependence on foreign oil and bring down the price we pay at the pump because, Mr. Speaker, I represent a very large and rural district where it is not uncommon to travel 50 and 100 miles each way each day to a job. Our working farm families can no longer afford the prices we are seeing at the gas pump. Mr. Speaker, I am also proud that the President finally today suggested something that I put into a bill last September that the Republican leadership refused to give me a hearing or a vote on, and that is calling on the Federal Trade Commission to investigate the big oil companies to determine if what we have been seeing is in any way related to price gouging. I can tell you if it is, the big oil companies responsible for that, they should not be put in the jail, they ought to be put under the jail. Why did it take this President 8 months to heed my call for a Federal Trade Commission investigation and to heed my call to suspend deliveries to the Strategic Petroleum Reserve? I am sure it has something to do with his approval rating now reaching an all-time low of 32 percent. Now, I wasn't here this evening to discuss energy, but I got a little fired up when the other side of the aisle decided they were going to say it was the Democrats and President Clinton who are responsible for $3-a-gallon gasoline at the pump. I am joined this evening by a good friend and colleague within the Blue Dog Coalition to talk about the debt and the deficit. He is a real active member of the Blue Dog Coalition, the group of 37 fiscally conservative Democrats, Mr. David Scott of Georgia.

Mr. ROSS. I thank the gentleman from Georgia, the gentleman from Tennessee for joining me this evening as we discuss this huge issue, this debt, and deficit facing our country, as we do every Tuesday night. We began the hour with a debt, $8,353,429,193,726 and some change. Just in the last hour since we have been discussing the debt and the deficit and what it means to America and how America's priorities are not getting funded because of it, how our veterans are not being taken care of, our school children are not being taken care of, our Nation is not nearly as safe as it should be because of America's priorities cannot be met as long as we do not have our fiscal house in order. But during this hour that we have stood here talking about this, this administration, this Republican Congress has increased the national debt to the tune of about $41 million. In fact, this is no longer the national debt. The debt now is $8,353,470,859,833. Just in the hour we have been here, our national debt increased by more than $41 million. It now stands at $8,353,470,859,833 and some change. It is time for this Nation to get its fiscal house in order. Forty-nine States are required to have a balanced budget. As members of the fiscally conservative Democratic Blue Dog Coalition, we believe our Nation should have a balanced budget. Small businesses are required to have a balanced budget. And America's working families and seniors and farm families are required to have a balanced budget. It is time for America to have a balanced budget. Madam Speaker, as members of the 37 Member strong, fiscally conservative Democratic Blue Dog Coalition, we will continue this dialogue and this debate on the House floor every Tuesday night until we have an administration and a Congress that will get our Nation's fiscal house in order. With that, Madam Speaker, if you have any questions for us, in the time remaining, I would encourage you, Madam Speaker, if you have questions or comments or concerns, I would encourage you, Madam Speaker, to e-mail us at bluedog@mail.house.gov. That is bluedog@mail.house.gov.

Mr. ROSS. The gentleman from Georgia is correct in talking about not only do we understand what the problem is, record debt, record deficits, but we also have a solution to the problem. As members of the fiscally conservative Democratic Blue Dog Coalition, all 37 of us, we have a 12-point plan for meaningful budget reform. These are not rocket science ideas; they are common sense ideas. One of them is promoting accountability within our government. I have talked about this before, and I am going to continue to talk about it, because I continue to have these manufactured homes located in my congressional district. FEMA has this so-called FEMA staging area at the Hope Airport in Hope, Arkansas, and the idea was that manufactured homes, 14 and 16 foot wide, 60 foot long, and they are fully furnished, they would come and go. Hope is 450 miles from the eye of Hurricane Katrina. Well, they all came, and none of them ever went. As a result, at one time we had 10,477 brand new, fully-furnished manufactured homes sitting at the airport in Hope, Arkansas. They were going to use these old World War II era runways, taxiways and tarmacs, and you can see that is what they did with some of them. Then they started to have to use pasture land. Here is a better shot. When I say pasture land or hay meadow, you get the idea what I am talking about. Here are these mobile homes sitting there on the grass. So when I started getting on them and raising this issue back in December, I thought FEMA would get these homes to the people who lost their home and everything they owned in places like Mississippi and Louisiana. But instead, FEMA's response to this is they are now spending $4.3 million laying gravel on this pasture to keep the manufactured homes from sinking, instead of getting the homes to the people that need them. They claim they won't locate them in Louisiana and Mississippi in flood plains. Why didn't FEMA think about that before they went out and spent nearly $1 billion on these mobile homes? FEMA says it is okay to put tents in flood plains, it is okay to put almost 80 million camper trailers in flood plains, but, no, not mobile homes, not even temporarily for 18 months. So people continue to live in hotel rooms, they continue to live in tents, they continue to live in campers across Louisiana and Mississippi. You would have thought that FEMA would have figured this thing out since last August when Hurricane Katrina hit. Unfortunately, we had a horrible tornado come through Arkansas and Tennessee, numerous tornadoes, I might add, which literally destroyed the community of Marmaduke, Arkansas. It took a number of Congressmen, a number of Senators, a Governor and I don't know who all else two weeks to get FEMA to move 25 of these 10,477 mobile homes from Hope, Arkansas, to Marmaduke, Arkansas. We come to find out they have simply moved them to a so-called FEMA staging area at Marmaduke, and are telling those homeless it might take 30 days to process their paperwork to see if they can get one of these homes. This is a symbol of what is wrong with this administration, this Republican Congress and their Federal Emergency Management Agency. I will continue to raise this issue and continue to give you an update, Mr. Speaker, as long as we have got a single home sitting at the airport at Hope, Arkansas, while people remain homeless from these horrible natural disasters. In fact, Mr. Speaker, the current update as I understand it is we now as of tonight have 10,112 manufactured homes sitting there at the airport in Hope, Arkansas. This is an example of the lack of accountability within our government, the kind of accountability that we need if we are going to get our Nation's fiscal house in order.

Mr. ROSS. I would say to the gentleman from Georgia, I could not agree with you more. The point we are making I believe this evening, I hope this evening, is as long as we have got this massive debt, which is costing us half a billion dollars a day in interest payments alone, as long as we continue to borrow $1 billion a day, increasing the $8.3 trillion debt by $1 billion a day, then America's priorities will continue to go unmet. We talk about investing in alternative and renewable fuels. The Potlatch Corporation with their plant in Cypress Bend, Arkansas, in my congressional district, has been recognized for their efforts in publications including the Wall Street Journal, I believe. They have a plan. They have the ability to take the wood, if you will, the timber, if you will, that is left in the woods that is not used in a manufacturing process, combine that with what is left on the sawmill floor, and they can power at least five towns the size of my hometown of Preston, Arkansas. To invest in that kind of equipment and technology and to make the thing economically feasible, it is going to have to be mass produced on a large scale, so they are in search of money to go forward. In the energy bill there is money to invest in these types of alternative and renewable fuels, but because of the massive debt there is only $150 million. Don't get me wrong, $150 million is a lot of money to a country boy from Prescott, Arkansas. But my point is this: To be able to reduce our dependence on foreign oil and to make our Nation more energy self-sufficient, to get this project off the ground to where it can be mass produced, they need $100 million. There is $150 million for similar type projects for all of America. They need $100 million of it. My point is we are not investing nearly enough in alternative and renewable fuels. $150 million is a lot of money, but our Nation is spending three times that, $500 million every day simply paying interest on the national debt, when we could be investing in alternative and renewable fuels to bring down the high energy bills that are having a negative effect, a horrible impact on America's working families, America's seniors and America's farm families. Just look at what interest payments on the debt are doing. The red on this chart is the net interest that is being paid in billions of dollars. The blue is how much we spend on education. Yes, we will spend more money paying interest on the national debt in about 100 days than we will spend on education in 365. Homeland security is the green bar. Veterans. I might remind you, we have got a whole new generation of veterans coming home from Iraq and Afghanistan, including my brother- in-law, who is in the United States Air Force, and my first cousin, who is in the United States Army. So look where our priorities lay in this country. Until we can get our Nation's fiscal house in order, this Republican Congress is going to continue to spend half a billion dollars a day paying interest on the national debt, while education and homeland security, keeping America safe and our veterans, will continue to get the short end of the stick. I yield to the gentleman from Georgia.

Mr. ROSS. Please do.

Mr. ROSS. The gentleman is so right. The gentleman is so correct on that. In a moment we are going to be hearing from the cochair for policy for the 37-member-strong fiscally conservative Blue Dog Coalition, and it is interesting what the gentleman from Tennessee is about to present to us. This is a little known report. And before we get into this, let me just let you know, Mr. Speaker, that every Tuesday night, as members of the Blue Dog Coalition, a group of 37 fiscally conservative Democrats, we come to the floor of the United States House of Representatives to talk about the budget, the debt, the deficit, and how this directly impacts America's priorities. And, Mr. Speaker, if you have any questions, comments, or concerns of us, I would encourage you to e-mail us at BlueDogs@mail.house.gov. Again, Mr. Speaker, I would encourage you to e-mail us your thoughts, concerns, or questions to BlueDogs@mail.house.gov. Very few people in our Nation, in fact, very few people in this Congress, know about this little known report. It is called the Financial Report of the United States Government, and this is the 2005 edition. Very few copies of this report are printed. Very few copies are circulated. Contrast that, Mr. Speaker, to this: This is the budget of the United States Government. It is delivered with a lot of fanfare to every Member of Congress's office. You always read about it and see it in the newspaper, radio, and television. You hear about it and see it, and this is the budget for fiscal year 2007. The budget of the United States Government, you get an idea of how thick it is. It is a big document, and it is delivered each year to all 435 Members with a lot of fanfare. This document, however, is delivered only to a handful of people, and it is only delivered to them because the law requires it, but it is a financial report of the United States Government. And here is what is interesting about this report: When we tell you that the deficit for 2005 was $319 billion, that is based on cash-basis accounting. Now, the Financial Report of America, and I believe it was Senator John Glenn that introduced the legislation, Congress requires the Secretary of the Treasury to issue this Financial Report of America using accrual-based accounting. It is this Congress through various laws that require every business in America with revenues over $5 million to use accrual-based accounting. They get in a lot of trouble with the IRS if they do not, and yet our government does not use the accrual accounting method, and our government certainly is bigger than $5 million in revenue every year. Our government uses cash-based accounting. And based on cash- based accounting, the deficit for 2005 was $319 billion. Maybe the reason this is not widely distributed and not very well known is because when the Financial Report of America issued by President Bush's Secretary of the Treasury, as required by law, uses an accrual-based accounting method, this little document reveals that the true deficit for 2005 was not $319 billion. It was $760 billion. Lord knows we are not trying to make it sound any worse than it already is because at $319 billion it is one of the largest deficits ever in our Nation's history. It is hard now to believe that we had a balanced budget in this country from 1998 to 2000, but we did. And yet under this administration and this Republican-led Congress, we have got the largest budget deficit ever in our Nation's history for 6 years in a row, and that is based on the cash-based accounting method. And when you look at the accrual accounting method, it is much worse. Mr. Speaker, at this time I yield to the gentleman from Tennessee, the cochair for policy for the 37-member-strong, fiscally conservative Democratic Blue Dog Coalition, Mr. Jim Cooper, who discovered this document. And I yield to him to better explain it to all of us.

Mr. ROSS. The gentleman is absolutely correct, and the fact that our Nation is $8.3 trillion in debt has a direct impact on all of America's priorities, many of which are going unmet today because of this enormous debt. I mean, it is $8.2 trillion, but it is growing by nearly $1 billion a day. We are sending $279 million a day to Iraq, $57 million a day to Afghanistan. This President, in this year's budget, proposes cuts to things like education and student loans to the tune of $2 billion. And yet the same budget, the same budget includes over $200 billion in new tax cuts for those that are primarily earning over $400,000 a year. It is about priorities, and priorities should begin with bringing down the high price of gasoline and diesel fuel; and priorities should begin with reducing our dependence not only on foreign oil but on foreign central banks and foreign investors to fund our government. The U.S. is becoming increasingly dependent on foreign lenders. Foreign lenders currently hold a total of about $2.174 trillion of our public debt. Compare this to only $23 billion in foreign holdings in 1993. The top 10 current lenders, countries that this President and this Republican Congress continue to pass tax cuts with money that they are borrowing from these countries: Japan, $668.3 billion. China, you can see here in 2000, and these are based on numbers from the United States Treasury and the United States Census Bureau, the public debt held by China quadruples under President Bush by billions of dollars. In 2000, when the President took office, our government had borrowed $62 billion from China, and in less than 6 years this chart shows that we have now borrowed $257 billion from China. This was printed on February 23, 2006. We cannot get them printed and updated quickly enough because the new number is $262.6 billion. United Kingdom, $244.8 billion. Our Nation has borrowed $97.9 billion from the Caribbean Banking Center. I had never heard of such. Taiwan, $71.6 billion. OPEC nations, $77.6 billion that we have borrowed from them. With the excessive price we pay at the pump, they are getting the profits. They are getting so much in profits on our backs that they are then turning around and lending our Nation money so that these Republicans in Congress can keep borrowing money from OPEC to give their rich buddies a tax cut. And I would submit to you if you earn over $400,000 a year, you ought to be for this. If you earn less than $400,000 a year, this is not a good deal for you, and it is certainly not fair to your children, who have got to pay this back someday. Korea, $68.3 billion. Germany, $65.2 billion. Canada, $54.9 billion. And to round out the top 10 list of countries that our Nation has borrowed money from to fund tax cuts, Hong Kong, $48.3 billion.

Mr. ROSS. I will yield, yes, ma'am.

Mr. ROSS. I appreciate the gentleman from Georgia and his thoughts on this energy crisis. And he is right, these oil company executives, I would invite them to come to my district and look into the eyes of farm families that are no longer in business, working families who are having to make difficult decisions about how to spend their money because of the high price of gasoline just to get to and from work. And yet this administration, this Republican-led Congress continue to tell us that life is getting better. It is getting better for whom? Gasoline prices are up 80 percent. Health care costs are up 50 percent. College costs are up 40 percent, and incomes are down in this country. That concerns me. And as one of the 37 members of the fiscally conservative Blue Dog Coalition, we understand that all of this is directly related to this, the national debt, which is now $8,053,429,193,726 and some change, which equates to every man, woman and child in America, including the children being born today, their share is $28,000. We call that the debt tax, D-E-B-T. And that is one tax that cannot go away until our Nation gets its fiscal house in order. A lot of people think the deficit doesn't matter, that the debt doesn't matter, that we can simply print more money. That doesn't happen. It doesn't work that way. Unfortunately, here's how it works. We are borrowing money from the Social Security trust fund, which I am adamantly against. Now, I understand, the first bill I filed as a Member of Congress was a bill to tell the politicians in Washington to keep their hands off the Social Security trust fund. Now, I understand why the Republican leadership refused to give me a hearing or a vote on that bill, because the projected deficit for fiscal year 2007 is $348 billion. That is the number you will hear a lot. But the reality is that it is $548 billion. The difference is they are taking the money from the Social Security trust fund with absolutely no provision on how or when that money is going to be paid back. Now, when I go to the bank to get a loan, my banker asks me how I am going to pay it back, where's the money going to come from to pay it back, and when am I going to pay it back. Our government should be no different. The politicians in Washington should keep their hands off the Social Security trust fund. But, instead, this is what we get. Forty-five percent of the debt is being borrowed from foreign central banks and foreign investors. Forty-five percent of the deficit is coming from foreigners. In fact, this administration, in the last 6 years, has borrowed more money from foreign central banks and foreign investors in places like China and Japan and South Korea than the previous 42 Presidents combined. And if we are not careful, if we are not careful, those foreigners are going to influence and have an impact and have control of our Nation's monetary policy. And we already see what is happening with interest rates.