H4314 CONGRESSIONAL RECORD — HOUSE June 9, 2010 The SPEAKER pro tempore. The Mrs. LOWEY. I thank the gentleman. aid on the flotillas go to Gaza, but time of the gentleman has expired. I’m just going to complete my state- these people on the flotilla were obvi- f ment, and I appreciate your generosity. ously not interested in delivering hu- The administration focused today on manitarian aid. They were interested MESSAGE FROM THE SENATE humanitarian and development assist- in provoking a violent reaction from A message from the Senate by Ms. ance to strengthen the Palestinian Au- Israel. Curtis, one of its clerks, announced thority so it can serve as a viable part- I just want to stand in support of the that the Senate has passed a bill of the ner in peace to Israel. But Abu Mazen U.S.-Israel relationship, a strong rela- following title in which the concur- must make clear to all the Palestinian tionship. Israel is our best friend and rence of the House is requested: people that their security and pros- ally in the Middle East. Hopefully, S. 3473. An act to amend the Oil Pollution perous future—and we’ve seen an 11 soon there will be a solution to the Act of 1990 to authorize advances from Oil percent growth in the West Bank—de- Israeli-Palestinian conflict, two states Spill Liability Trust Fund for the Deepwater pends on rejecting Hamas, recognizing side by side living in peace and har- Horizon oil spill. Israel, and working with the inter- mony, a Palestinian state and an The message also announced that national community and Israel to Israeli Jewish state. That is something pursuant to Public Law 111–148, the achieve a two-state solution. that we all strive to work for. Chair, on behalf of the Republican Despite the current tense environ- I want to thank Mr. WEINER for orga- Leader, appoints the following individ- ment, some positive steps have been nizing this. I want to thank Mr. HOYER, uals to serve as members of the Com- taken that will improve Israel’s secu- our majority leader, for always being a mission on Key National Indicators: rity as well as bolster U.S. national se- stalwart. I want to thank Mr. AKIN for Dr. Wade F. Horn of Maryland (for a curity interests. Iran continues to be giving us the opportunity to speak. term of 3 years); and an existential threat to Israel, the re- When it comes to Israel, this Congress Dr. Nichols N. Eberstadt of the Dis- gion, and the world. I am pleased to- is united with strong bipartisan sup- trict of Columbia (for a term of 2 day’s agreement by the U.N. Security port, and we’re going to keep it that years). Council to impose multilateral sanc- way. f tions on Iran will hold the regime ac- Thank you. Mr. AKIN. I thank the gentleman. I countable for its reckless pursuit of nu- NOTIFICATION OF TERMINATION think you’re articulate, and I think clear weapons, and I look forward to OF SUSPENSIONS WITH RESPECT that that’s accurate to say: there is a Congress finalizing strong bilateral TO ISSUANCE OF CERTAIN PER- good bipartisan sentiment that when a sanctions and urge European partners MANENT MUNITIONS EXPORT LI- small nation is trying to defend itself, and other responsible countries to do CENSES FOR EXPORTS TO we have always stood for people. CHINA—MESSAGE FROM THE the same. The basic principle of people being PRESIDENT OF THE UNITED We must continue to strongly sup- allowed to be free and have some self- STATES (H. DOC. NO. 111–120) port the U.S.-Israeli partnership which determination as to how they’re going provides invaluable benefits to both of The SPEAKER pro tempore laid be- to rule their own country and be free our countries’ national securities. from the fear of terrorists, that’s some- fore the House the following message Mr. AKIN. I yield to my good friend from the President of the United thing that Americans can really agree from New York (Mr. ENGEL). on. I appreciate you taking time on States; which was read and referred to Mr. ENGEL. I thank the gentleman, that subject, and also my good friend the Committee on Foreign Affairs and and I will be brief. I rise in support of ordered to be printed: from New York taking the time to or- everything that my colleagues have ganize the hour. Very good job. Thank To the Congress of the United States: said. you. Pursuant to the authority vested in The U.S.-Israel relationship is a spe- Mr. WEINER. If the gentleman would me by section 902(b)(2) of the Foreign cial relationship, and it’s a relation- briefly yield, I, too, want to add my Relations Authorization Act, Fiscal ship that needs to be strengthened. The thanks to you. I don’t know if they Years 1990 and 1991 (Public Law 101–246) United States is Israel’s only true have C–SPAN in Israel, but sometimes (the ‘‘Act’’), and as President of the friend. In fact, when you look at the it’s easy in that little country to feel United States, I hereby report to the United Nations or the so-called Human beset on all sides. We share the same Congress that it is in the national in- Rights Council in the United Nations, common sense that they do, that terest of the United States to termi- it’s really a kangaroo court stacked up they’re victims of terror, and I want to nate the suspensions under section against Israel. No wonder Israel doesn’t thank you. 902(a)(3) of the Act with respect to the accept what the so-called ‘‘inter- We disagree on a lot in this place— issuance of permanent munitions ex- national body’’ says about them, be- and you’re going to spend the next port licenses for exports to the People’s cause they can never do anything hour or so pointing out some of those Republic of China insofar as such re- right. They’re always condemned no things—but there are some things that strictions pertain to the matter what they try, no matter what have broad bipartisan support, and the LightScanner 32 System used for gene they do. support of Israel is one of those things, mutation genotyping for individualized My colleagues have pointed out that and I want to thank you for being at cancer treatment. License require- Israel, like every other sovereign na- the forefront of that. ments remain in place for these exports tion, has the right to defend itself, that Mr. AKIN. Well, thank you very and require review on a case-by-case Israel has at least twice seized large much, gentleman. And thank you for basis by the United States Govern- caches of arms aboard Iranian ships the leadership you’ve shown tonight. ment. bound for Hamas and Hezbollah, and a DEMOCRAT’S MANAGEMENT OF THE ECONOMY BARACK OBAMA. blockade is an appropriate security Mr. AKIN. I would now change gears THE WHITE HOUSE, June 9, 2010. measure when employed in the face of here and get on to another subject. f hostility such as that directed by We’re dealing with some weighty top- Hamas against Israel. ics tonight; the previous was of course THE ISRAEL BLOCKADE AND THE Hamas doesn’t recognize Israel’s international relations, the other is FLOTILLA right to exist, has vowed to destroy closer to home, and it’s really the ques- The SPEAKER pro tempore. Under Israel, won’t abide by any agreements tion of the economy: the Democrats’ the Speaker’s announced policy of Jan- that have been signed by Israel and the management of the economy, what uary 6, 2009, the gentleman from Mis- previous Palestinian governments, and should be done with the economy, how souri (Mr. AKIN) is recognized for 60 so Israel has to make sure that ter- does that affect jobs and how does that minutes as the designee of the minor- rorist attacks don’t come from Gaza affect all of our lives. I guess it sounds ity leader. into Israel as they have for such a long like kind of a boring subject in some Mr. AKIN. Mr. Speaker, I yield to the time. As my colleagues have pointed ways; but on the other hand, it so gentlewoman from New York (Mrs. out, Israel has offered to inspect the much influences and affects every sin- LOWEY.) flotillas and let all the humanitarian gle person in our country that I guess

VerDate Mar 15 2010 03:19 Oct 09, 2010 Jkt 089060 PO 00000 Frm 00066 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H09JN0.REC H09JN0 mmaher on DSK69SOYB1PROD with CONG-REC-ONLINE June 9, 2010 CONGRESSIONAL RECORD — HOUSE H4315 we have to put up with a little bit of something. And he thought, well, Mr. BROUN of Georgia. Well, thank talk about economics just to make that’s not pocket change. Here’s the you, Mr. AKIN, for yielding. sure that we’re not destroying our President asking for this authority, I’ll tell you what. I hope the Amer- country or destroying our jobs and put- and what do we have from then in the ican people paid attention to your ex- ting our grandchildren into debt. And minority? We had this from Represent- planation because it has been Demo- so the whole topic of economics and ative FRANK, he says: These two enti- crats all along who have fought any re- jobs can be a little perplexing, but it ties, Fannie Mae and Freddie Mac, are form of Freddie and Fannie. Freddie doesn’t have to be. not facing any kind of financial crisis. and Fannie are right in the middle of I do apologize ahead of time that I The more people exaggerate these the cause of the financial downturn am, by training, an engineer. Someone problems, the more pressure there is on that we’ve seen today. once said that engineers shouldn’t be these companies, the less we will see in Just today, we voted on trying to allowed in political office perhaps be- terms of affordable housing. Now, peo- name a committee of conferees from cause they’re too logical, or whatever ple who know Freddie and Fannie know the House and the Senate to talk about the reasons are. But I do think it’s im- that these guys were big players here financial services, and we tried to bring portant to back up just a little bit to on the Hill. They had lobbyists that Freddie and Fannie into the fold, but say where we are here in the economy were terribly effective, went around Democrats across the board have re- and how we got to where we’re going and distributed a whole lot of money to jected from 2003, all the way up to and what mistakes have been made. a lot of people, and they didn’t want today, to solve the problem. When you I’m not one to want to just criticize anybody playing in the deal they had have a fire going, you want to try and and not offer a solution, so I’m going going. find out the source of that fire and put to try to do that. I’m going to try to So what happened here? Well, what out the source. I’m a medical doctor. When you have draw some practical applications as we happened was the House—at that time a medical problem going on, you try to wrap up in a while as to what we in Republican control—passed a bill to find the source of that problem. If you should be doing, what policies should regulate Freddie and Fannie. It went to have a cancer, you want to not just be changed, what does America have to the Senate, and what do you think hap- deal with the symptoms of the cancer do to pull ourselves out of the eco- pened to it? Well, in those days, Repub- or even of the metastasis—the spread— nomic nosedive that we’re currently in. licans had a majority in the Senate, of the cancer, but you want to go with It’s not a graveyard spiral. There but they didn’t have the 60 votes nec- the primary tumor and get it out. were days in the early days of airplanes essary for cloture, and so the bill was So Freddie and Fannie are the source that when a pilot pulled his airplane up killed by Democrats in the Senate. of the problem, and Democrats across into a stall, fell over backwards, he Freddie and Fannie continued on their the board have resisted from 2003, all would get into what was called a grave- merry way, and all of a sudden, a num- the way to today, the efforts the Re- yard spiral. And the pilot would grab ber of years later, what other people publicans have made to try to cut out the stick of the airplane, pull it back had seen—Bush had seen years before— this cancer of Freddie and Fannie. violently to try to get the nose of the was going to happen, it happened, and airplane to pull off from the ground Mr. AKIN. I think what you’re saying we had this great big crisis start. Now, is important. You’re using some doc- and the airplane would just keep spi- that was all connected with ACORN, raling down and crash into the ground. tors’ analogies. the organization that was pushing Mr. BROUN of Georgia. I’m a doctor. It ruined the pilot’s whole day. Our banks to make loans that normally a Mr. AKIN. I think that’s good. It economy may be at a graveyard spiral, bank wouldn’t make because the people paints a vivid picture, but there is a but there are things that we can do to that the loans were going to be made problem with Freddie and Fannie. prevent it from crashing, but we’re to couldn’t afford to pay them. Mr. BROUN of Georgia. Absolutely. going to have to do that and do it soon. So we started going on this track of Mr. AKIN. The problem with Freddie So that’s what I want to take a look passing out loans to people that and Fannie is you don’t get something at. couldn’t afford to pay them, and every for nothing. I’m an engineer. I mean, I want to back up just a little bit to time we sold one of those loans, some- it’s one of those things, if it isn’t there, the days back at this superconserv- body made some money. And what did it isn’t there. So what we’re doing is ative oracle, The New York Times. they do with all of those bad loans? we’re using Freddie and Fannie to This is September 11, 2003. This is real- They dumped them all on Freddie and make loans to a certain number of peo- ly the beginning of President Bush’s Fannie. And as you know, you just ple who can’t afford to pay them. Then Presidency, and he goes to the New keep doing something like this, pretty that means, Where is the money going York Times—and this is September 11, soon the music is going to stop and to come from? but it’s not 2001, it’s 2003—and it says there are going to be people without Mr. BROUN of Georgia. Taxpayers. here, this is the article: The Bush ad- chairs. That’s what happened in the Mr. AKIN. That’s the point. ministration today recommended the savings and loan problem. So the deal is: Is it the job of the most significant regulatory overhaul in American public to bail out people who the housing finance industry since the b 1945 make irresponsible loans? How about savings and loan crisis a decade ago. Now, what is going to be the solu- all of the people who get loans, who That’s interesting. President Bush was tion? Well, we are going to talk a little make their mortgage payments, who saying in 2003 that we’ve got to take a bit about that, about where we are do everything by the book, who then look at this finance industry and the going with the economy and about get hammered because somebody else overhaul of this housing finance indus- what we need to be doing. didn’t do it that way? That’s the basic try. And under the plan disclosed at a I am joined now in the Chamber by a question. congressional hearing today, a new good friend of mine, Dr. PAUL BROUN, Is there any sense of fairness in this? agency would be created within the from the Atlanta, Georgia area, if I re- Is this a good way to run a ship? Be- Treasury Department to assume super- call properly—not Atlanta but, rather, cause what we’re doing is creating an vision of Fannie Mae and Freddie Mac, some other part of Georgia. incentive for people to do the wrong the government-sponsored companies Mr. BROUN of Georgia. The north- thing, which is to take loans they can’t that are the two largest players in the east corner of the State of Georgia. afford to pay. They put more stress on mortgage lending industry. Inter- Athens and Augusta are my two major their own families economically. esting. This is way before the mort- cities. How is that compassionate, by the gage-backed security thing hit the fan Mr. AKIN. I yield to the gentleman. I way, when you’re the dad, supposedly and the whole stock market crashed don’t know what you think about At- providing for your family, and you’re and all that sort of stuff; this is way lanta, so I won’t say anything about in danger every month of the mortgage before that. that. payment, and they’re going to put you So President Bush, he’s saying, okay, My good friend from Georgia, Con- and the kids and the sofa out on the let’s regulate these because they’re out gressman and Dr. BROUN, please join front sidewalk? That’s not compas- of control. They’ve lost $1 billion or us. sionate. Yet that’s what these policies

VerDate Mar 15 2010 03:19 Oct 09, 2010 Jkt 089060 PO 00000 Frm 00067 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H09JN0.REC H09JN0 mmaher on DSK69SOYB1PROD with CONG-REC-ONLINE H4316 CONGRESSIONAL RECORD — HOUSE June 9, 2010 on Freddie and Fannie are doing. So we from it. Of course, FDR’s Treasury Sec- plummets, the ability to pay for your need to reform Freddie and Fannie, and retary, Henry Morgenthau, after trying family plummets. Unemployment pay- apparently, we’re not willing to do it for 8 years, turned a recession into ments go up. Of course, those are com- that. the Great Depression, and we consider ing out of the public sector. Tax collec- Hey, I want to jump forward just a it the greatest depression we had. What tions go down. The number of jobs, of little bit, gentleman. I want to jump they did was they just spent tons of course, declines dramatically. This is forward now past Freddie and Fannie. Federal money, but at least they spent an illustration of what has happened to We’ve got the whole trouble with Wall it on concrete, like great big dams and our economy. Unless we get this num- Street starting to melt down. We do roads and building projects. Of course, ber under control, we are in trouble. the great big bailout of Wall Street. the $800 billion that we spent wasn’t Among the things that I oppose, Then the center point of the Demo- spent on a lot of stuff. It was much which the majority party here in Con- crats’ plan was the stimulus package. more of just government giveaways. gress is pursuing, are tax increases on Unemployment started to go up, and We are joined by my good friend, the employer class. The employer class the economy was dipping. They said, Congresswoman LUMMIS. I would just includes those small businesses all over This is a great opportunity for us to be delighted if you could jump into our the country which are employing less spend money on all the things we want conversation here. We are focusing, than 50 employees who are unable to to spend money on. So they spent $800 really, on the economy: What assump- borrow money because of the con- billion on the stimulus package, which tions have been done that are wrong? straints on capital that you addressed is a whole lot of money, and the idea What do we need to get it fixed so as to earlier, Mr. AKIN. All of these create was, if we spend enough money, it will straighten things out? the downward spiral that we are see- get the economy going again in spite of Mrs. LUMMIS. Well, thank you. I ing. In order to get out of that spiral, fixing Freddie and Fannie. thank the gentlemen for allowing me we have to make dramatic changes in Now, what do you think about that to join you both this evening. our tax policy, in our spending policy, theory that, if the government spends I thank the gentleman for his cour- and in our overall economic policy in tons of money, it’s going to somehow tesy to the previous group that was relation to other countries and in rela- get the economy going? You know, a talking about our policy with Israel. I tion to the amount of debt that we are lot of people believe that idea. thought that was appropriate to allow issuing. I yield to my friend. them to finish their remarks and to ac- I yield back. Mr. BROUN of Georgia. Well, I thank knowledge the importance of our allies Mr. BROUN of Georgia. Will the gen- you, Mr. AKIN, for yielding. there. tlelady yield? This has been described as Keynesian One of the issues that we are going to Mr. AKIN. I yield you time, gen- economics, which means bigger govern- have to address, as we address this eco- tleman. ment spending and more borrowing. nomic downturn we are in, is the role Mr. BROUN of Georgia. Well, I’m You’ve got a great quote there by of the Federal Government in exacer- sorry. I apologize, Mr. AKIN. Henry Morgenthau, who was FDR’s bating the problem. I just wanted to address those things Treasury Secretary. During part of the As we all know, Federal employment that you were talking about, Mr. Great Depression, he made this great and private-sector employment are not AKIN—the Great Depression, the gov- quote, which reads, in part, that we the same thing. A private-sector job ernment spending and that the unem- have just as much unemployment as pays for other people’s jobs through ployment didn’t go up. As to what Mrs. when we started all of this massive taxes; whereas, a public-sector job con- LUMMIS just so very capably showed us, government spending, and an enormous sumes more than it pays in taxes. So government jobs are going up. debt to boot. That’s exactly what we’re it’s important that we watch the rela- During the Depression, though, as doing. tionship and the growth of Federal jobs you just said, there was a lot of spend- Most American people know—not all, versus the decline in private jobs. ing on infrastructure during that pe- and it’s unfortunate. Most American This first chart that I have shows the riod of time. It did not take care of the people know that socialism never has Federal Government employment and unemployment. If you look at the un- worked and never will work, but this is how it has changed in the past number employment rate during the Great De- socialistic, this type of philosophy of of years. I’d like to point out the years pression, it stayed relatively flat. It bigger government, of central control 2002, 3, 4, 5, and 6 when the Federal went up and down some, but it stayed from wherever the capital is. We saw it Government’s employment was rel- up a bit, and then it fell way off in in the Soviet Union. It is what Stalin atively flat—in fact, almost as flat as a spite of all the big government spend- put up there in the Soviet Union. In pancake. Then we get into the Pelosi ing and all the spending on infrastruc- fact, FDR sent his lieutenants to Rus- Congress, and it’s going up markedly, ture. sia. Back during that period of time with the year 2010 here on the end of Back then, though, under the Roo- when the Great Depression started, this chart showing you that we’re get- sevelt administration, they created the which was early on in the Roosevelt ting back to levels that are unprece- WPA and the CCC camps and things Presidency, he sent his lieutenants to dented since Republicans took over like that. They put people to work, look at what Stalin was doing because control of Congress in 1995. who were on government welfare, they thought this was the greatest I also want to illustrate what has building all that infrastructure. Now thing in the world and that we needed happened to private-sector employ- we’re paying people not to work. to put in place that kind of policy here. ment during this time period. This Mr. AKIN. So things have changed, That’s exactly what is going on right chart compares private-sector employ- and it has gotten even worse, hasn’t it? now with our leadership. They may as ment to public-sector employment, or Mr. BROUN of Georgia. It really has. well send their lieutenants back. They government employment. The red line Mr. AKIN. Let me just jump in for a should go back and look at the history is government employment. This more moment. of what Stalin did, and they should un- flat line of the red line illustrates, once You know, the charts that you chose derstand from history that it doesn’t again, those years that were relatively actually have a relationship to each work, because it will not and cannot. stable—2003, 4, 5, and 6. Then the Pelosi other, and you alluded to the mechan- Mr. AKIN. You know, I really appre- Congress took effect, and here the gov- ics of what that connection is, which ciate your jumping a little bit ahead ernment employment begins to shoot is, when the government creates a job because you anticipated where I’m up. by hiring somebody, it does create a going. The scary part of this chart is the job. The problem is it kills two other There have been some assumptions blue line, which is what is happening to jobs in the private sector. So you think made by the Democrats about the private-sector employment. It has to yourself, hey, if we have unemploy- economy, and the question is: Are crested. Then from the Pelosi Congress ment, for the temporary sense, let’s get those assumptions any good or not? on, it has declined dramatically, and the government to spend some money One of the things that history does these are the years of the Pelosi Con- and hire a bunch of people, and that tell us is we should learn something gress. When private-sector employment will take care of the problem in the

VerDate Mar 15 2010 03:19 Oct 09, 2010 Jkt 089060 PO 00000 Frm 00068 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H09JN0.REC H09JN0 mmaher on DSK69SOYB1PROD with CONG-REC-ONLINE June 9, 2010 CONGRESSIONAL RECORD — HOUSE H4317 short term. Maybe the economy will And this is created not just by TARP, years, our debt to GDP will be at 112 rebound, and then maybe the govern- not just by the, quote, ‘‘jobs bill’’ percent, whereas right now Greece is ment will shrink, and more private- where we just dumped all kinds of 115 percent. In other words, in 5 years, sector jobs will come along. Not so. money into increasing various govern- we’re going to be right where Greece is What happens, in fact, is, when the ment handouts and things. It wasn’t right now. And that illustrates the government creates jobs, it spends a concrete and roads; it was just govern- type of nosedive that the gentleman whole lot more money. It takes money ment-handout kinds of things. said we are in. away from the private sector, and it But this tremendous level of spend- Mr. AKIN, could I ask you to put up drives the number of private jobs down. ing then creates the very problem the chart that you have there that is So what you’ve just shown is an illus- which creates the unemployment, and called ‘‘Tidal Wave of Debt’’? tration and an example of a failed eco- it threatens our economy. The chart that he’s going to put up nomic policy. It’s a failed economic If you take a look at where this is was prominently displayed on numer- policy, and we should have known from going, you take a look at these num- ous occasions today in the House Budg- Henry Morgenthau that it wasn’t any bers, and you start to put it—these et Committee, where we heard from Dr. good and that it wasn’t going to work. seem like a lot of money. This one here Ben Bernanke, the Chairman of the He said, Look. We’ve tried spending is $1.4 trillion. Well, what does $1.4 tril- Federal Reserve. Multiple questions money. We’re spending more than lion mean? Well, let’s put it into con- made reference to this chart. And it is we’ve ever spent before, and it doesn’t text. the trajectory on this chart that Dr. work. Now we’re turning around and Here’s the context right here. This is Bernanke expressed such concern are doing it over again. With 8 years in a comparison to these other countries about. the administration, we’ve just as much over in Europe. This is deficit as a per- If you look at the line of 2010 and fol- unemployment as when we started and cent of GDP. United States, 10.3. We’ve low it through the year 2046, which is an enormous debt to boot. got Greece at 9.4. the end line of that chart, you see the So what are we doing now? Oh, we’re Now, Greece has been in the news. enormous upward spiral of our debt. repeating this same foolish policy. It’s been causing a whole lot of trouble This is, of course, part of the Here it is. Nobody really wants to in the European Union. And its deficit unsustainable situation that Dr. look at this graph. This is the deficit as a percent of GDP is 9.4, and we’re Bernanke was asking us to address. under the Democrat budget. Now, I’m a 10.3? These are not good numbers. And if we do not, we will put our coun- Republican, and I’ll admit that we I think it’s helpful to compare to the try in terrible financial straits. So, we talked about a number of al- spent too much money when President others. United Kingdom is a little ternatives. One is Bush was President, but it wasn’t as worse off than we are. If you go debt, americanroadmap.org, which is the bad as it could have been. People didn’t this is a larger term, this is going year ranking member of the Budget Com- know how bad it could be. Now we do. after year after year, you see United mittee, PAUL RYAN’s proposal. It is Take a look at that. The very worst States here is at 99, debt as a percent very comprehensive. It would have a year of President Bush’s spending was of GDP. And you’ve got Greece and slow glide path to bring both our defi- in the Pelosi Congress here in 2008. Italy that are worse off than we are. cits and our debt under complete con- That was his highest amount of deficit That’s not a good sign when we’re in trol, and do it without raising taxes, in a given year. That’s one-third of third place to Greece and Italy from an and do it without affecting the Social what it was under Obama, the next economic point of view. So this rate of Security or Medicare benefits of people year, and this is even more so. spending just does not work. This is a Mr. BROUN of Georgia. Will the gen- over age 55 or 56. glide path. tleman yield? The problem is, the longer we wait, I used the analogy of, you know, the Mr. AKIN. I do yield. the more out of reach that type of Mr. BROUN of Georgia. I wanted to guys, the World War I pilots that used strategy becomes because of the enor- put some perspective on 2008, too. to fly those airplanes, whatever it was mous crowding out of our budgets that That’s when the President’s chief eco- that Snoopy used to fly. Many of those will happen by interest on our national nomic adviser—I guess the Treasury planes, they would get into that spiral debt. Consequently, we need to address Secretary—told him that the sky was and they would just start to head down the Paul Ryan proposal sooner rather falling and that we needed to pass the for the Earth. than later. Toxic Asset Relief Program, or TARP, And that is what has happened, is, Even under the Paul Ryan scenario, which many Republicans voted against. because of lousy economics, we are in when compared to our anemic econ- I didn’t buy the Democratic Treasury essentially a graveyard spiral in Amer- omy, the budget cannot be balanced Secretary under a Republican Presi- ica. And you, my friends, know what and the debt cannot be eliminated dent because that’s exactly what Hank the solution is to fix this. until the second half of this century. Paulson is. He’s a Wall Street insider, And there was a solution to the So it takes over 40 years, given that a Wall Street banker. Wall Street be- graveyard spiral. And maybe it seemed scenario, to balance the budget and lieves in big government. That’s the a little counterintuitive, but from a pi- eliminate the debt. However, that is reason they support the Democrats. lot’s point of view, what they’re sup- the kind of slow glide path that we They overwhelmingly support Demo- posed to do—their instinct is to pull have to take with an economy this ane- crats financially. back on the stick to pull the nose up. mic, and in a way that does not raise That increase in 2008, under Bush, is Instead, you had to do the counterintu- taxes. principally because of the TARP bill itive thing, which is push the stick And if we learned anything from the that a lot of people didn’t like. I did down. And that would stop the spiral, Japanese in the 1990s, it was: You don’t not vote for that. I’ve argued very the plane would start diving, and when raise taxes during a recession. That is much against it, and I have been a they had control, then they could pull what slowed and retarded their growth strong critic of the Bush administra- the stick back up again. out of their economic slump. tion’s being big spenders, but they were And there’s the same kind of thing in Mr. AKIN. That’s a great point. And pikers compared to the Pelosi Congress our economy, which we have to do or let’s repeat that. What you just said ever since she has been in charge. this economy is going to crash. And if was, you don’t raise taxes during a re- you think 10 percent is bad for unem- cession. b 2000 ployment, it could get a whole lot And what we are going to talk about And even that is just miniscule com- worse. here tonight—there are some bad as- pared to what has happened just over I yield to my good friend, Congress- sumptions that were made that are de- the last 16, 17 months. woman LUMMIS. stroying our country and that are de- Mr. AKIN. It seems to me, gentle- Mrs. LUMMIS. I thank the gen- stroying our budget, our economy, and men, that President Bush was Ebenezer tleman for yielding. just killing jobs in America and cre- Scrooge by comparison to what we’ve The chart he has up does compare the ating a whole lot of hardship. got here. I mean, this is runaway U.S. to Greece. But what is really But it doesn’t have to be that way. spending. frightening about that chart is, in 5 There is potentially good news. But we

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And it’s not logical reason for it. are expecting the Chinese to buy our doing anything except for creating a Let’s just take a look, though, so debt. In other words, we are spending bigger government and creating tem- people understand the gravity of what our children and grandchildren’s fu- porary government employees. It’s cre- we are looking at. This is who owns our ture, and the credit card is being held ating a lot of jobs here in Washington, debt. This debt is created because we by the Chinese. D.C., but they don’t help my State of are promising all kinds of benefits to And it is something that is totally Georgia. They don’t help New York American citizens, all kinds of prom- unsustainable. And what it is going to State or California or Texas. ises that we are going to give them do, long term, is our children and They are creating a bigger central health care and we are going to give grandchildren are going to live at a government that’s going to kill our them housing and food and education lower standard than we live today be- freedom. And we’ve got to stop it. and all the stuff that the Soviet Union cause this is totally unsustainable, to- Mr. AKIN. The thing is, you and I are also promised their citizens. And who tally unsustainable. not talking can tonight, we’re not is picking up the tab? A lot of for- Mr. AKIN. I think you’re an optimist. talking about tonight something that eigners are buying our debt. I really do. I’m not so sure that our is speculative or based on theory. Here it is. Foreign holding of Amer- children and grandchildren will live at These graphs are ending in 2010. These ican debt was 5 percent in 1970. That a lower standard quite the way you’re are actual numbers. This is what has was when I graduated from college. talking about. I’m not sure that this is happened, and it doesn’t work. It didn’t Foreign holdings, 1990, 20 years later, not going to create a more cata- work for FDR, and it’s not going to go from 5 to 19 percent in 20 years. strophic kind of crash, where the whole work for President Obama and the Now, 20 years later, in 1210, foreign credit system of the United States—if Democrats. It just won’t work. holdings, 47 percent. your Treasury bill is no longer any That is what is happening to employ- Is that healthy? How much longer are good, you have, by definition, just ment in the private sector. And the red the Chinese and the other foreign coun- crashed your airplane into the ground line, of course, is government. And a tries going to continue to pay us and it’s going to ruin your whole day. whole lot of that is these census people money that we don’t have to pay off You are talking about a crisis unlike running around and snooping on every- American voters just to keep them anything we have seen ever in our his- body and figuring out who lives in happy? This is a glide path that will tory. That is what is potentially there. what house and everything, which, of end up in a crash. I don’t think we should be overly dra- course, makes you feel just wonderful The gentlewoman, Congresswoman matic about it, but this is really seri- that we’re putting those kind of gov- LUMMIS, has suggested that, even now, ous stuff. ernment jobs on instead of just killing trying to pull this thing out is going to And what this cartoon is trying to manufacturing. take a number of years. This isn’t point out is that there are a whole se- Let’s get to the mechanics, though, something that can be turned around ries of Obama policies; every single one because all of this stuff, it’s not rocket overnight. of them is diving the plane faster and science. This is basic, basic economics. And I think this 20-year kind of pat- faster toward the ground. b 2015 tern reflects the fact that what we are First of all, there was the Wall Street talking about is really serious here, bailout. Then there was the stimulus I just wish some of the Democrats but it still is basic economic principles. bill, which was supposed to create jobs. had run lemonade stands when they Mrs. LUMMIS. In May of this year, We saw how well that has worked. The were kids. They could understand some we issued some Treasury bonds, and private job creation is in the dirt, and real simple kinds of economics here. the sale was undersubscribed, which we are creating all the jobs by hiring One of the things, we had a town hall means there were not enough countries government bureaucrats who are pay- meeting back in my district. I thought or individuals who purchased U.S. ing more than the poor guys working maybe I am getting too radical, maybe treasuries, our debt, at the price at in the private sector. That doesn’t I have been here too long. You know which they are being offered, which work. that old folk song you have been on the means that pretty soon we are going to And then you’ve got this cap-and- job too long. So I asked them. I said, have to raise the interest rates that we trade. ‘‘Cap-and-tax’’ is what I call it. Now, if you wanted to kill jobs, what are willing to pay people who purchase It was passed out of the House. What a would you do? What are the job killers? our debt. mess that is. I am an engineer by train- You know what was the top of their When we have to raise our interest ing. It is supposed to save us from glob- list? Excessive taxation. rates, that means that we are paying al warming, but all it is, is more big Now, this is a connection that you more in interest on the debt every government and more taxes. Fortu- were making, gentlelady, a moment year. That crowds out private invest- nately, the Senate is not dumb enough ago, between the taxes and these jobs ment from our economy. That makes it to have passed it yet. going down. And of course part of what more difficult for the private sector to And then you’ve got, of course, the you use the taxes for is to pay for all create the jobs that were on this chart socialized medicine deal, which surely these public sector jobs. So what’s the earlier. That is part of the death spiral will break the budget unless they put connection here? Why is it that tax- that we have been talking about. in enough waiting lines for everybody ation just kills the economy? It’s not Mr. AKIN. I would like to yield a lit- and enough rationing so that it won’t just any taxation, but it’s particularly tle time to my good friend from Geor- break the Federal budget. taxation on what? On businesses. Why? gia, please, Dr. BROUN. So all of these policies together are Because businesses have to have money Mr. BROUN of Georgia. Thank you. creating those numbers and those in order to add new processes, come up And I like this cartoon that you just graphs that we see. with new technology, new machines, a put up, because this just shows what is Mr. BROUN of Georgia. Will the gen- new building to do something in. They going on here, not only with our debt, tleman yield before you take the chart have got to have some money to do it with health care reform. away? with. And if you take it all away by I call it ‘‘tax-and-trade’’ because it is Mr. AKIN. I do yield. taxing them, you make it so that they about revenue. The President himself Mr. BROUN of Georgia. Well, there’s can’t create the new jobs. said it was about raising more revenue a bull that’s in that china shop that’s The places where jobs are created in for the Federal Government. It’s not not indicated in this cartoon, and America are largely, 80 percent of the about the environment at all. In fact, a that’s the abject failure, non-stimulus jobs, are in corporations of 500 or fewer lot of what the President has said, he bill, as I call it, which has been an ab- people, which you call medium or

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And if you tax the what we call it in medicine as a med- size of government, get government people that own those small businesses, ical doctor, which means their body out of people’s way so that they can you say, hey, that guy’s making temperature is going to go up, they are run their lives without all this govern- $200,000 a year, we are going to—that’s going to get dehydration, and people ment intrusion. So we are the party of what Obama said in the campaign, hey, are going to have a lot of problems. k-n-o-w. And I am excited about your if you are making 250,000, look out be- And it’s going to make a greater im- launching into this idea about the solu- cause I am going to tax you, but any- pact on our health care system and tions that we have. body under 250, you are okay. Of course people are going to die because of that. With that, I yield back. he wasn’t telling the truth, because he But it’s going to kill jobs too. And Mr. AKIN. I love talking about solu- had that tax that they were pushing on it’s going to be a job killer just like the tions, because you know what those so- this global warming deal where if you ObamaCare that’s been estimated by lutions are about? Those solutions are flipped a light switch, you would start experts to kill over 5 million jobs in about freedom. And that’s a good word. getting taxed. But aside from that, the this country. And that’s what America has always fact is he wanted to tax heavily the Mr. AKIN. Five million? stood for. And that’s what we need to people that own these small businesses. Mr. BROUN of Georgia. Over 5 mil- talk about for a minute. But I do want Guess what that’s going to do to em- lion. Five and a half million, to be to yield to my good friend, Congress- ployment? It’s the worst thing in the exact, jobs that health care taxes. And woman LUMMIS. Mrs. LUMMIS. The Republican Study world. And then there is some other what it’s going to do, is it’s going to Committee has a proposal through JIM points, too. mean that a small business man or I yield to my good friend from Geor- woman who is trying to just make a JORDAN’s subcommittee on the econ- gia. living, they are not going to be able to omy that would balance the budget in Mr. BROUN of Georgia. Well, thank hire new employees because of 10 years. It would cut spending in areas you, Mr. AKIN, for yielding. And you ObamaCare. We have got to repeal and other than homeland security and de- are exactly right. Not only does exces- replace ObamaCare. And that’s just the fense, and it does not touch Social Se- sive taxation kill the ability to do all bottom line. curity. I am one of those who believe the research and development that you Everything that this Congress has that we have to protect our entitle- were just talking about, but small done since I have been here 3 years ment system by reforming it rather business can’t even buy inventory. So now, everything, and all of it has been than by leaving it alone. But let’s save that discussion for another day. they can’t sell their goods to con- under NANCY PELOSI’s leadership, ev- Another proposal, one that I have sumers. The consumers don’t have the erything that this Congress has done in with Representative SAM JOHNSON of money to come and buy the goods and 3 years that I have been here is going Texas, would reduce the size of the to kill jobs, it’s going to kill our econ- services. So it kills the economy. It’s Federal employment force through at- omy, and it’s going to be killing the fu- just very, very simple economics. trition. In other words, every time The thing is we are going in the ture of our children and grandchildren. someone vacates a position through re- wrong direction. You talked about the We have just got to stop this. tirement or other means, that position energy tax that’s been proposed, that Mr. AKIN. You didn’t even mention would go into a position pool. And only NANCY PELOSI jammed through the that little small detail of the govern- those positions that are absolutely nec- ment becoming the master. The gov- House of Representatives here. It’s essary to sustain the rolls of govern- what’s called a regressive tax because ernment is getting so big, the govern- ment as contemplated by the Constitu- it’s going to hurt people on limited in- ment employees are making so much tion would be reclaimed and redeployed comes and poor people the most. It’s money it’s effectively becoming not into the Federal employment force. going to make their gasoline prices go the servant, but the master. There are any number of ideas. The up. In fact, I have heard many Demo- Mr. BROUN of Georgia. Absolutely. PAUL RYAN proposal, the JIM JORDAN crats, many Democrats here on the In fact, it’s going to kill our freedom proposal, this proposal. JEB floor of the House of Representatives also. HENSARLING has proposals, many that say they would like to see gasoline at Mr. AKIN. I am very concerned about are comprehensive in nature that will $10 a gallon. our discussion tonight because I am provide that glide path to a better Now, somebody who is out working afraid somebody may be watching and economy and do it without raising hard today trying to make a living, they are thinking, oh, my goodness, taxes. who is just making the house payment there isn’t any hope, things are terrible So even though you hear frequently and paying their bills and just scraping and bad. Yeah, we are in a big financial that the Republicans are being short- to get by and trying to get by, if their mess because we have been doing the sighted in the fact that they do not gasoline price goes to $10 a gallon, they wrong policies. But I want to take want to consider tax increases as part are going to be just really out of eco- about 10 minutes, I want to talk about of an economic recovery plan, you are nomic luck, so to speak. let’s wipe the slate clean. Let’s stop all correct that most of us don’t. And the Mr. AKIN. How are you going to pay of this foolishness and let’s talk about reason we don’t is because we know we that mortgage payment now? what we do to fix it. Because we can do can recover this economy without rais- Mr. BROUN of Georgia. That’s right. that. I want to go first of all to my ing taxes, and raising taxes will slow They can’t afford their mortgage pay- good friend—— our ability to recover. ment now, or some are just barely pay- Mr. BROUN of Georgia. Could you I yield back to the gentleman from ing those things. And then the energy yield just a half a second? Missouri. tax on their electricity when they flip Mr. AKIN. Let’s talk something posi- Mr. AKIN. Thank you for that in- on the light switch, or when their heat- tive. sight and the wisdom that you have ing unit comes on, up North particu- Mr. BROUN of Georgia. I am going shared with us. This is a graph of actu- larly. I, thankfully, live in the South, to. ally what happens over time. And this so we are more concerned about air Mr. AKIN. Good. is this effect I was talking about. You conditioning. Mr. BROUN of Georgia. And I want to know, when you were flying those old- A lot of old people in Georgia and remind the gentleman that during our fashioned airplanes and you wanted to Florida and all through the Southeast debate over ObamaCare we were ac- not drive your airplane into the dirt, and through the Southwest are depend- cused as Republicans of being the party what you had to do was push the stick ent upon air conditioning just to live. of no. We are the party of k-n-o-w. We forward, which would stop the spin. And if their electricity bills go sky know how to solve this economic down- The plane would start to dive; but high, as the energy tax is going to turn. We know how to create jobs. We when you had control, you could pull make it happen, if that ever passes, know how to lower the costs of health the stick back. That seemed counter- there are a lot of people that can’t af- care. We know how to create jobs in intuitive.

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You’re taxing jobs. We need live. So he bet his life on his solution. The government’s going to do all of to lower taxes, and that’s what you’re And he put it in the graveyard spiral, that. And we laughed. Because we said fighting for. he pushed the stick forward, the plane you can’t—that socialism, that com- Mr. AKIN. I really appreciate the stabilized, and then he eased the stick munism-socialism doesn’t work. And gentleman for joining me tonight. back, and the plane pulled out, and all yet what are we doing here? The same We, in a way, as Americans have got the people on the ground went, whoa, thing. two choices here. One choice is the that was a gutsy move. We are deciding the government’s path to freedom, and the other path is That’s a little counterintuitive. going to do health care, the govern- the path of servitude to Big Brother When you are out of control going ment’s going to do your education, the government. Every solution that we’ve down, your temptation is to jerk the government’s going to do your housing, seen coming from the Democrats—now, stick up, which is what the Democrats and then the food stamps. It doesn’t we’ve seen an unusual year-and-a-half. are doing. They are raising taxes, mak- work. So what I think we understand is I have been in Congress now 10 years. ing the situation worse, turning a re- the government is just going to have to I’ve never seen a year-and-a-half like cession into a depression. And what get out of the business of taking care this. This is a total one-party rule. Al- you have got to do is to learn from the of everybody and get back in the busi- most every bill that passes, Democrats pilots who had before you figured out ness of just simply managing the econ- all vote one way, Republicans the how to do it. One of them, ironically, omy, providing for the national de- other, and the Democrats have such a was JFK. Now, that guy’s a Democrat, fense, and they are going to have to majority, and everywhere along the and they didn’t learn from him. Be- push all of that decision-making down line they can do whatever they want cause he was in a recession and he said to the State level and let the States do and they have. And the solution is al- less taxes, and the economy recovered. it. So we have to have a good breath of ways more taxes, more government, Then a guy came along by the name freedom and fresh air instead of the big and more government control. of Ronald Reagan. He cut taxes like Obama welfare state that we are doing. So, on the one hand, you have the mad. Guess what happened? Recovery Congressman BROUN. world of the Big Brother government of the economy. Then comes along Mr. BROUN of Georgia. Mr. AKIN, I taking care of things, and you’re guar- Bush. Cuts taxes. Recovery again. I am a pilot, and I want to say that you anteed that you can’t fail because the mean, we have seen it over and over. are exactly right about getting out of a government will always be there to Here it is and it’s counterintuitive. death spiral. So we do push the yoke bail you out, not just as a big corpora- Why in the world if you cut taxes could forward to stop the spin, to stop the tion but as an individual. You can the government have more revenue and stall, to get the airplane flying again. make bad choices. The government will get the economy going? And that’s exactly what needs to hap- be there to bail you out; that’s what Well, here is what happens. And pen to our economy, by pushing the they promise, but it doesn’t work that think about it a little bit like this. Say stick forward, by reducing taxes, par- way. you are king for a day, Congressman ticularly on small businesses. In fact, what all of human history BROUN, you are king for a day and you I introduced my JOBS Act. My JOBS are allowed to tax loaves of bread. And Act is an acronym for ‘‘jump start our shows us is that one of the most dan- you are thinking in your mind now you business sector.’’ It would cut the taxes gerous things to human beings is big have been technically trained as a doc- for business for 2 years. It would sus- government because big government tor, you are a scientific thinker, and pend capital gains taxes and dividend has killed more human beings than all you have got these loaves of bread, how taxes. It would cut the two lowest in- the wars of history combined. Just much are you going to tax a loaf of come tax brackets down to 10 percent take communism alone, which is a big bread? First you think, huh, maybe a and 5 percent. government theory. Just communism penny, because no one will notice a So if you think about it, that would alone has killed more people than all penny tax on a loaf of bread. Then you leave dollars in the hands of business, the wars since the time of Christ, and think, yeah, but if I taxed them more, leave dollars in the hands of consumers so this faith in big government is a I could get more money. So you say, so that they would have the money to very, very unlikely thing to put your huh, maybe $10. Then you think, ah, stimulate the economy. So it’s some- faith in. no, maybe they wouldn’t pay $10 tax. thing that would stimulate the econ- The other choice is freedom, the So somewhere between $10 and a penny omy and start creating jobs. And that bright light and the fresh air of saying there is an optimum tax to tax a loaf of is something that needs to happen. And go out and do the best you can; you bread to raise money for the govern- it is by cutting taxes instead of raising may fall on your face but get up and ment. taxes. try again. That’s what America was al- Well, the same kind of thing goes on What we see here is our leadership ways founded on, the idea that govern- on a larger scale. And what this guy here in the House, the Democratic ment should just protect life, liberty, Laffer understood was if you drop leadership, wants to raise taxes. Our and the pursuit of happiness. taxes, what happens is the economy President wants to raise taxes. One My good friend, Congressman BROUN. gets going. When it gets going, there thing that I want to go back to is Mr. BROUN of Georgia. Thank you. are more transactions. And so even a something that you talked about when We have 1 minute left I think, and I lower tax rate will generate more rev- the President said he was going to just want to say that helping poverty enue. raise taxes on people who made $250,000 is a very simple formula. It’s a good- So here is what he did. This is like or more, that these are rich people. paying job and the education to fill that airplane. He is dropping taxes The vast majority of those folks are that job. That’s another thing that we here, and take a look at government small business men and women who are know as Republicans. We’ve got to cre- revenues. Government revenues are filing their sub S corporations as per- ate those good-paying jobs, and the going up and taxes are down. That sonal income taxes. And those are real- way we do that is in the private sector seems like making water run uphill, ly not their individual income, but by reducing taxes on small business but it’s not. Because when you get the that’s how much money comes into men and women so that they can cre- economy going, then a lower tax rate their business. ate new jobs. We will continue to fight actually generates more money. And for freedom. that’s the solution out of this problem. b 2030 There’s a wide gulf, just like you So let’s talk about what is it we have So they’re not just wealthy people were saying, between the philosophies to do. We have to learn, if nothing else, who are living lavish lives. They are of the leadership of the Democrat

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Freedom is a beautiful or we borrow from the guy down the up job that in 2006 the voters replaced thing, but we have to realize there are street. Most of it is borrowed from the us and made the Democratic Party the a couple of things that come along financial institutions on Wall Street majority party. with freedom. If you really want to be that we spend a lot of time bailing out But one of the central themes of that free, you’re going to have to be respon- and also foreign countries. China and campaign that the Democrats made all sible as well. You can’t assume Big others own a good portion of our debt across the country was you need to put Brother government is going to do it as well. us in charge because the Republican all for you. The other thing is, if you So it was alarming that the an- Congress is a do-nothing Congress, want to be free, you have to tolerate nouncement was made that we they’re just not doing anything. And, the fact that other people near you wouldn’t be producing or the majority as a matter of fact, they indicated that may be successful. You have to suffer would not be producing a budget. we weren’t working full time. Now, with some guy next door that’s made Alarming because you wonder, maybe anybody that’s been here knows that millions of dollars and he gets to get in we’ve been really busy here and we that’s really a specious argument, a a fancy motorboat and ride around and haven’t had time to get to something false argument, but it sold newspapers. maybe you’ll feel jealous and even cov- as important as the budget. And then, It looked good on the talk shows when etous of him. But that’s freedom. You of course, after the budget is passed, people would say, well, we’re not even have to allow people to succeed, and that leads to what’s called the appro- working a full week. Well, you know, you have to realize that you can also priations process where the Appropria- some of the work is done here on the make a mistake and fail but you can tions Committee gets together and de- floor, a lot of the work is done in com- have the freedom to get up and try termines what we’re going to spend on mittee, a lot of the work is done back again, but at least the government defense, what we are going to spend on in our districts, but to say that we won’t chain you down with regulations education, what we are going to spend weren’t here five days a week and they and bureaucracy and red tape and drive on the environment and so forth and so were going to change all that was an you into the dirt like an airplane on. So, until you have the budget trig- interesting campaign slogan. that’s not being flown right. ger, there’s no allocation to the Appro- But just walking over here, Mr. I thank you very much for joining priations Committee so they can begin Speaker, I got a notice from the major- me, Congresswoman LUMMIS and Con- their work. ity leader. We’ve just come back from gressman BROUN. So it’s not just a matter of not hav- our work period back in the district for f ing a blueprint, not having a budget; Memorial Day. We didn’t have any it’s a matter of them not having the votes on Monday. We’ve done some- ANNOUNCEMENT BY THE SPEAKER spending bills in place. Although, thing called suspensions that I’m going PRO TEMPORE again, we’re sometimes late in deliv- to talk about the last couple of days, The SPEAKER pro tempore (Mr. ering those, it’s pretty unusual that we together with a bill that I guess we’ll NYE). All Members are reminded to re- don’t even start the process with a try and finish up tomorrow. But I just frain from engaging in personalities to- markup in the subcommittees of Ap- got an email, courtesy of the majority ward the President. propriations, certainly preparing the leader’s office so that we know what f bills for floor activity. our schedule should be, that we’re not In thinking about it, the President of going to have any votes on Friday. THE BUDGET the United States, President Obama, So, despite the fact that the Repub- The SPEAKER pro tempore. Under he’s also charged with delivering a lican majority in 2006 was labeled as the Speaker’s announced policy of Jan- budget, and I think we all know that the do-nothing Congress and we didn’t uary 6, 2009, the gentleman from Ohio President Obama has been pretty busy. work 5 days a week, we have accom- (Mr. LATOURETTE) is recognized for 60 I mean, there’s a lot going on. There plished a whopping 3 days of floor ac- minutes. have been a lot of things happening tivity here in the House of Representa- Mr. LATOURETTE. Mr. Speaker, since he became the President of the tives after being at home for Memorial thank you for the recognition. I want United States that require attention. Day for an entire week. to thank the minority leader, Mr. Some have been disasters; some have I thought to myself, well, maybe we BOEHNER, for granting me the privilege been financial difficulties. We’ve seen should look to see what it is we’ve been of speaking here this evening. Greece go bankrupt on the other side of doing because, clearly, if we’re not pro- What prompted us to come forward the ocean. But even as busy as Presi- ducing a budget—and we’re going to this evening is an announcement that dent Obama has been, he discharged his talk a little bit about other things that took place before the Memorial Day statutory obligation and delivered to haven’t been occurring around here— weekend by the majority in the House, Capitol Hill in a timely fashion a budg- maybe we’ve been preoccupied with the Democratic majority leader and et. Now, you may not be crazy about really, really important matters that others, that it was not anticipated that the budget. You may think that the needed to be addressed. they would be producing a budget. This budget spends too much as I do, the What I found out was, as I examined is my 16th year in the Congress, and I President’s proposal, but at least he it, that there have been 337 recorded know that that has not happened in the did what he was supposed to do and votes on something known as suspen- previous 15 years that I’ve served here. present a budget. sions, and, you know, Mr. Speaker, but And in checking, I’m not aware, since That caused me to sort of examine just so the record is clear, a suspension the Budget Act of 1974 was enacted, what it is that we’ve been doing here in is a noncontroversial bill where it’s that the House of Representatives the House of Representatives or, more cleared, usually by the majority who hasn’t put forth and produced a budget. correctly, what the majority has de- says to the minority, We’d like to do Just like at home, the reason that a cided we should be doing in the House this on suspension. Most of those budget is important is that it allocates of Representatives here since the be- things are by agreement. resources and says what you’re going ginning of the year to determine what The way that works, it’s called a sus- to spend on what and, in the case of the it is that we have been so busy doing. pension because you’re suspending the government, what you’re going to over- It’s particularly important to talk rules, you’re not bringing a bill to the spend and are going to have to borrow about that a little bit because the first floor pursuant to the regular order. from places like China to finance the 12 years that I served in the Congress— You’re bringing it in a way that’s de- deficit and the debt. As a matter of I happen to be a Republican—there bated for 40 minutes. Each side gets 20 fact, the news reports indicate that we were more Republicans in the House of minutes, and then there’s a recorded

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