H972 CONGRESSIONAL RECORD — HOUSE February 7, 2020 or McCabe or Strzok. These are people ments is the entire discretionary budg- where our brothers and sisters—what who ought to be required to answer for et. Everything else is on autopilot. we refer to as marginally detached— their wrongdoing. Yet how many of our brothers and are coming back into the labor force. Yes, I still have significant problems sisters who are elected, and who have This is a good thing. It makes remark- with Inspector General Horowitz. He this incredible opportunity and respon- able differences. did a lot of investigation, but it is very sibility to come tell the truth, are You are going to start to see: Do we clear that Strzok and Page had tre- comfortable coming behind this micro- add incentives in the earned and even mendous bias. phone and saying: Hey, it turns out unearned benefits? Remember, in our His original report, in effect, said that we are getting old very fast as a society, the vast majority of our spend- there is no indication that it affected society. We have stunning numbers of ing, 70-plus percent, is on autopilot. It the outcomes. How about the fact that promises that we have an obligation to is what we call entitlements. every outcome was consistent with keep. And we are unwilling to have the You earned your Social Security. their bias? Not one single outcome was honesty of the discussion of what we You earned your Medicare. You earned inconsistent with their bias for Hillary are about to do to our kids in crushing your VA. You earned these things. Clinton and their hatred for Donald them. There are other benefits you get be- Trump. When it is 100 percent con- I have a 4-year-old daughter. Doesn’t cause you fell below a certain income. sistent, then it means it is time to do she deserve to have the same opportu- You are part of a certain Tribal popu- something. Christopher Wray needs to nities we all have had? lation—those things. These are treaty go, too. It turns out there is a path, but we obligations. They are societal obliga- Mr. Speaker, I yield back the balance need to stop delusional thinking. For- tions we have made decisions on. of my time. give me when my brothers and sisters Are there things we can do to add a f on the Republican side say, ‘‘Well, if we spiff? Saying: Yes, you may be 70 years just got rid of waste and fraud,’’ it is a old, you have your earned entitlement, MODERNIZING ENTITLEMENTS rounding error. It is important, and we but could we give you a little spiff? Are The SPEAKER pro tempore. Under need to do it. you healthy? Do you want to continue the Speaker’s announced policy of Jan- ‘‘We just have to tax rich people to work? Do you want to stay in the uary 3, 2019, the Chair recognizes the more.’’ It is delusional. It is fractions labor force? gentleman from Arizona (Mr. of a percent, and you could take all Because it turns out to be really good SCHWEIKERT) for 30 minutes. their wealth, Mr. Speaker. for society. It turns out to be really Mr. SCHWEIKERT. Mr. Speaker, my We don’t seem to have our heads important. family accuses me of being incapable of around the scale of this math and the We still have a problem with millen- speaking without moving my hands or number of zeros that go with it. nial men, which is a different speech, without displays, so we are going to see Let’s sort of walk through this. In and one day, we will figure out why if we can do a little bit of both that we the last couple of years, we have been they are underparticipating. are good at. trying to pitch a concept. You can’t Population stability, a really uncom- Mr. Speaker, about every week, I try just do one thing, Mr. Speaker. You fortable part of the conversation to to take a block of time and come here can’t just change entitlements and have, but the math is the math. Our to walk through both what I see hap- think you are going to accomplish any- birthrates have collapsed. We are look- pening math-wise and what I see hap- thing. You can’t just tax people more ing at data right now that says half of pening demographic-wise. I know as and think you are going to get any- millennials, more than 50 percent of soon as I use those words, most anyone where. You have to do everything. millennials, will never marry. It who is watching this is now falling It is sort of the wholistic—I prefer doesn’t mean they won’t be in long- asleep. But the math is important. the term ‘‘unified’’—theory that we term committed relationships, but are I put this board up because I am a be- have to get the economics working. We there incentives we can produce as a liever that there is a way to save the have to maximize economic growth, government, as a society, that those country from being buried in debt. and we have to maximize labor force stable relationships bring another gen- There is a way that the next 30, 40 participation. We need to adopt revolu- eration? Because it is an honest math years can be incredibly prosperous, but tionary and disruptive technology to problem. We are collapsing population- we need to invest in this magic device, crash the price of healthcare because, wise. which is called a calculator, because as I was just sharing with you, Mr. Immigration, how do you design an much of what we do here is rhetorical. Speaker, healthcare is what drives the immigration system that is open, wel- We do policy by feelings, and we en- deficit. coming, but is talent-based? Because gage in just absolute absurdity in our I was here last week, and I was show- the reality of it is, we are about to hit unwillingness to talk about the reality ing slides that 90 percent of the future such a demographic headwind if we do of what is going on. debt is substantially Social Security not have brothers and sisters becoming So, first, a bit of premise, and then but mostly Medicare, yet the only calls Americans who have certain skill sets. we will do a little bit of what happened I get when I show that slide is I get In many ways, it is a more elegant in today’s job report to demonstrate people angry: Stop telling us that. system. I don’t care about your race, there is a path, but that path doesn’t That doesn’t fit the folklore I bathe in. your religion, who you cuddle with, all exist until we start to be honest with But the fact of the matter is, there of these things. I do care that you add each other. are technology disruptions coming velocity to our society, to our econ- So just a top-line understanding, the right now that could crash the price of omy. next 5 years, just the growth in Social healthcare and be amazing in changing Then, there are other things: tax Security and Medicare—it is mostly our debt curve. The problem is a bunch policies, regulatory policy, smart tech- Medicare—and healthcare entitle- of that technology is actually illegal nology, things we can do to maximize ments, just the growth equals the en- because it uses algorithms, sensors, economic growth. tire Defense Department. and things that our current legal Look, our pitch is: If we can make Mr. Speaker, you have to understand framework and reimbursement frame- these things work—and you can’t do what is happening. It is not Republican work isn’t ready for. We need to mod- one or two of them; you have to do all or Democrat. It is demographics. There ernize. of them—we have a model that says, at are 74 million of us who are baby the peak of the baby boom, so about 15 boomers, and we are moving into our b 1400 years from now, or less than that, we retirement years. We have earned bene- Employment, we are going to talk kiss up to 95 percent of debt-to-GDP, fits, and there is no money in the bank. about some of the remarkable things but we can hold it. Then, it fades back It is all going to be borrowed. that came out in today’s unemploy- to something normal. So think of that: Over the next 10 ment numbers that should be incred- If we don’t do this, there are charts years, just the growth of Social Secu- ibly hopeful to both those on the left out there that show a couple hundred rity, Medicare, and healthcare entitle- and the right of what is happening, percent of debt-to-GDP. We blow up the

VerDate Sep 11 2014 01:03 Feb 08, 2020 Jkt 099060 PO 00000 Frm 00034 Fmt 4636 Sfmt 0634 E:\CR\FM\K07FE7.060 H07FEPT1 dlhill on DSKBBY8HB2PROD with HOUSE February 7, 2020 CONGRESSIONAL RECORD — HOUSE H973 society. We basically become anemic, ponents that make wages go up, the ing you off. Today, you have double, slow-growth. We raise taxes like crazy two things we focus on? Well, one is more than double, the wage growth of on young people to make them pay our productivity, and the other is inflation. everyone else and the mean in this so- benefits. We become a country that has When your wages go up, well, infla- ciety. crushed any excitement and hope. tion is up, so we are going to pay you I know this is geeky, but it is really Let’s talk about the good things, be- more, even though you have no im- important. These numbers are millions cause there is starting to be some proof provement in your purchasing power. and millions and millions of our broth- that when you get tax policy correct, And inflation-driven wage growth, you ers and sisters out there who had a regulatory policy correct, some of are typically falling behind. really crappy decade. All of a sudden, these incentives, good things happen. I The other side—and that is what this something is happening out there know in today’s rage-based politics, we chart talks about—is productivity. The where their wages are growing. The job sit there and attack everything, but company invested in a new piece of stability, the value of their labor, it there are good things happening. equipment, new software, new meth- may be the most elegant way to say How do we figure out what makes odologies, or new supply chains, but it it—and some of this is complex. And them happen and do more of it? And requires capital investments. But we this is an uncomfortable part of the the things that aren’t working, let’s do have gotten more productive, meaning conversation. Forgive me if I am not as less of them. It is not that com- we can pay our workers more. eloquent on this as I would like to be. plicated. We were panic-stricken, functionally, For low-skilled populations, it is a Look, today, we got the jobs report. at the end of 2016. Productivity had combination of a robust enough econ- The jobs report we get about January collapsed. Lots of the smart people omy to have a need for those skills or is really important because they also were saying: Well, you have had the lack of skills. But there is a need for give us a sense—it is not the final num- tax reform. People did their investing, that labor. The other side is, you are ber but the sense of what was hap- this and that. It is going away. not flooding your society with a type pening in 2019 and those last 4 months. Turns out, they were absolutely of immigration that puts so much low- Every smart economist we work wrong. Look at the last bar. That is skilled population in the society that with—I am the senior Republican on 2019. We have had a spike. Now, I still you crush the working poor. the House side on something called the don’t think it is enough, but we are up So think of a little bit of a seesaw. Joint Economic Committee. It is basi- to what we call 1.7 productivity You have to do both to get the value of cally for all the kids in your high growth. For an economy our size, that that working poor population, to make school who were president of your is remarkable. We can do better, but it their labor valuable. It is happening. math club. If you love the data—and I is going the right way. That should be joyful. Now, we should happen to be blessed to have a couple If we are going to pay our brothers figure out how to do more of it, how to of economists who work for me in that and sisters more, if the working poor keep this going, because it is working. capacity—we were all expecting revi- Now, here is the one where I may are going to have an opportunity, this sions and some ugly numbers. take us a little bit to a level of com- is crucial. Can we fixate on the things Turns out, a few hours ago, we found plexity in the thinking, but it is really that are working in our economy? Be- out that there were 55,000 added in No- important. When we did tax reform a cause there is something working now, vember and December, the ending parts couple of years ago, the Joint Com- so how do we do more of it? of last year. The economy turns out to mittee on Taxation folks—they are all This next chart is impossible to read, have been healthier. The employment freaky smart. There is like 50 of them. but it is really important. You have opportunities were healthier. A number have Ph.D.’s in econometrics three layers in here. These are for You all saw the number for January, and all these things. 225,000 jobs, far beyond even the most wages, so those folks who are at the They came to us and said: David, optimistic predictions. There should low end of the scale, middle end of the there are two fragilities in tax reform have been joy in this room. Those are scale, and those folks who are making for the economy to grow. It is capital people who are working, who are com- lots of money. stock, available cash to be lent for ing back in the labor force, who are The remarkable thing that has hap- businesses, for organizations, for changing their lives. But this place is pened since tax reform—I know this is things to grow, to buy that new piece incapable of joy anymore. really hard to see. It turns out, it is the of equipment for that labor produc- These are really, really good things. working poor, that lowest quartile, tivity. The other thing was labor itself. But there is something even more re- that is having the most growth in their We are getting old very fast as a soci- markable underlying in that data, and wages, that bottom 10 percent of our ety. There are some charts out there it is important. I know it is not excit- brothers and sisters that we were writ- that say, within the decade, we func- ing, but it is really important if you ing off as a society. tionally have two workers for one per- care about people. I have been on the Joint Economic son in retirement. It is not Republican First, we work on the premise that Committee now for years, and just 3 or or Democrat. It is those of us who are growth is moral. You are going to see 4 years ago, we brought in these fancy, baby boomers. It is what it is. some numbers here where our brothers very well-credentialed, really smart Something has started to happen in and sisters who had basically quit, economists who basically said that the last 2 years, and we saw a pop of it they had stopped trying to find em- Americans who didn’t finish high in this January data. Think about this. ployment. They had dropped out. We school, Americans with moderate This over here is sort of that 2008, 2009, called them the marginally detached. skills, they are part of the permanent and we were at 67 percent labor force Those people who might have a small underclass. Start thinking of ways to participation. Now, labor force partici- part-time job, but they are unhappy. provide them subsidies, welfare, hous- pation basically means everyone in so- They are basically the working poor. ing, because they are going to stay ciety less those people who are under All of a sudden, we are seeing, in the there. 16. So those who are eligible to work, last 24 months, remarkable movement The velocity, the concept that you up and to, I believe, being much older. in their wages and even more remark- can start out poor today, learn a skill, Now, this number was always sup- able movement in their job opportuni- work hard, and move up, they basically posed to crash because we are getting ties. There is something working out said was over. They are wrong. And older as a society. But it was supposed there. this isn’t Republican or Democrat. to continue to just dive down because Remember, the first slide we were This is hope. This is what America is we are only halfway through the retire- talking about how we have a healthy supposed to be about, that those folks ment of the baby boomers. enough economy, a healthy enough ec- come back. All a sudden, in the last couple years, onomics in our society so we can keep You may not have had the oppor- we have broken the trendline. All of a our promises. This is one of the charts tunity to have great skill training. sudden, today, we saw we are up to 63.4 that is really important. Maybe something horrible happened in percent labor force participation. Most If you all remember your high school your life, you dropped out of high people glaze over and go: What the hell economics class, what are the two com- school. Three years ago, we were writ- does that mean?

VerDate Sep 11 2014 01:03 Feb 08, 2020 Jkt 099060 PO 00000 Frm 00035 Fmt 4636 Sfmt 0634 E:\CR\FM\K07FE7.062 H07FEPT1 dlhill on DSKBBY8HB2PROD with HOUSE H974 CONGRESSIONAL RECORD — HOUSE February 7, 2020 Well, it means it is a number that capital stock? It turns out that thing right, we get elected to do our best to those smart economists a couple years called capital stock is remarkably bet- make people’s lives better and protect ago were telling us we would never get ter than anyone had modeled. the Constitution, defend the Constitu- to, but somehow it has happened. We We did something in the tax reform tion. If you don’t see this as making are functionally living in a time when to stop businesses from moving their Americans’ lives better, you don’t un- we are going to be rewriting textbooks. domiciles overseas, taking their profits derstand, you don’t own a calculator, But what is also remarkable—and and booking them overseas, keeping or you don’t have a heart. you are going to see this in one of the that capital overseas. We changed that. I get behind here and I talk about the other charts here—is those who are We have had a remarkable amount of math, but this math is people. It is coming back, they are starting to look that, billions and billions, I mean, a families. It is folks who are being for unemployment. few hundred billion dollars come crash- crushed in the last decade who now ac- So how do you have this weird num- ing back to the United States, where tually have hope. ber today? There are 225,000 people who they have to pay some taxes here on it, Why isn’t there some joy? Why do we moved into the labor force, or took but that cash is now in our society. have to live in a time where rage is the jobs in January, but unemployment ac- It turns out also savings rates have commodity of politics and not joy for tually ticked up one-tenth of a point. turned out to be much better than we the success we are having for so many But the labor force participation, the modeled. people who are part of the working number in the labor force, also goes up So just that and the fact that more poor that now have hope, now have fu- two-tenths of a point. That is actually people are working is about a $705 bil- tures? It is working. wonderful. lion reduction in the deficit. In that And the other thing that is also What it means is that people who had one period between August and last somewhat joyful, you see the red bar, given up, who weren’t looking, hadn’t week when we got the CBO report—and that is real GDP. looked in the last 4 weeks, in the last remember, the cost of tax reform we You have got to understand, if we year, they had functionally given up, thought would be about $1.4 trillion. were going back to around ‘16, even almost a couple hundred thousand, We just covered about half of it. So it when we calculated the year ‘17, how maybe 170,000 or so, came back and is just an interesting thought on what much of our GDP was also being started looking, coming back into our is going on. dragged along, helped, assisted by the society’s labor force. This is the remarkable chart. This is rest of the world? Now, when you look This is really important because the one we need to get our heads at what is going on, we have had a re- there is just that societal concept of around. So think about this. markable level of stability, but we are you are less likely to be using bad It is January 2009, January 2010. How dragging the rest of the world with us things if you are working. You are many of you remember people getting because the rest of the world is basi- more likely to be able to start having behind microphones and talking about cally an anemic mess right now. a functioning family, maybe even fam- the real unemployment rate? Do you And, yes, next month I expect some ily formation, if you are working. Your remember the real unemployment ugly things in some of the numbers be- future, your optimism, your health are rate? It is not these people who are out cause of the virus and what it has done better if you are working. looking. It is all the people. It is the to trade. There may be an upside in an All of a sudden, we are starting to see worn-out workers. Those people have odd way where many manufacturers, populations that those fancy econo- quit. We had numbers where it was ap- businesses, will consider moving their mists were writing off just a couple proaching 17.6, 17.5 percent of our Na- supply chains, making them less frag- years ago. They are coming back. tion was part of the real unemploy- ile, less concentrated, which will be ment. great for us as a country because we b 1415 Take a look at what has happened. have just now had USMCA, the NAFTA This is moral, but it is also really This is remarkable. We are now start- replacement, pass, so now, all of a sud- good. Why does it become partisan, ing to see numbers that were 6.7 per- den will you think about moving part saying: Well, it is not as good as it cent of the—this is people who are of your manufacturing back to North should be? It is a remarkable break of looking, not looking, who have worn America. every trend line we had. out, who have given up. It has been cut But this is actually a really inter- You would think we would have this substantially, more than half. esting chart to understand. Even in a honorable conversation, saying: Let’s And we are at this point where we time where the rest of the world’s eco- understand what is working and do have been having this amazing aca- nomic growth has been collapsing, we more of it because, if we can do this for demic debate, conversation: What is are still doing remarkably well. a few more years, another decade, that real unemployment? Not only that, And I was going to come up here and economic trend line starts to change what is full employment? How much— show you the formulas of, hey, a point remarkably. and I was told never to use this word of GDP in the EU means this much to And I will try to make that make behind the microphone—but this con- us. But just understand, we had some sense. cept of elasticity. How many of our help 3 or 4 years ago. Now we are the So last August, CBO did debt projec- brothers and sisters are actually avail- ones helping the rest of the world. tions. We just got another one last able to come back into the labor force? Now, back to that being remarkable, week. Did anyone come behind these It turns out there is a miracle hap- and this is sort of the closing on the microphones—well, I did—and say: pening out there. Every month, we will concept that growth is moral. But Hey, did anyone notice that the 10-year tell you: Oh, 150,000 or, in this case, there also should be joy. window of debt actually went down $705 225,000 took jobs, because it is not part Those who come behind these micro- billion? of the way they calculate. We are not phones and say, ‘‘We care about peo- It turns out, if you dive into that, telling you: Hey, there may have been ple,’’ ‘‘We care about the workers,’’ some of that was payrolls. There are a another couple hundred thousand who ‘‘We care about the working poor,’’ lot more people working. They are pay- moved back into the labor force who ‘‘We want society to continue to ex- ing a lot more payroll tax. That is won- weren’t even looking, so we don’t count pand and be healthy,’’ take a look at derful. them. the chart on my side. If you see blue, it There is another thing that is actu- They deserve to be counted, and they is the previous 8 years. If you see the ally a little more complex to get your are counted in this data here. They are red, it is a function of the last 3 years. head around: interest rates. We expect what they call the U–6 unemployment. Do you know which bar is the highest the cost of financing the deficits of the If we could keep this going for a few and has the biggest separation? Who U.S. Government to also came down more years, we are already breaking has had the biggest growth in earnings about $400 billion. the rules in almost every textbook, but on this chart? Turns out it is the bot- But there is an argument that the this becomes remarkably important. tom workers in our country. tax reform—remember how we said For my brothers and sisters on the If you care about our brothers and what were the two fragilities, labor and left, my brothers and sisters on the sisters who have been struggling for so

VerDate Sep 11 2014 01:03 Feb 08, 2020 Jkt 099060 PO 00000 Frm 00036 Fmt 4636 Sfmt 0634 E:\CR\FM\K07FE7.064 H07FEPT1 dlhill on DSKBBY8HB2PROD with HOUSE February 7, 2020 CONGRESSIONAL RECORD — HOUSE H975 many years, this should be joyful, be- The Clerk read as follows: 104-121, Sec. 251; (110 Stat. 868); to the Com- mittee on Financial Services. cause something amazing is happening H. RES. 832 3750. A letter from the Director, Office of out there. Whereas, on December 20, 2019, Speaker Now everyone is doing better—well, Legislative Affairs, Federal Deposit Insur- Pelosi extended an invitation for President ance Corporation, transmitting the Corpora- except high-wage managers. They are Trump to address a joint session of Congress basically static. If you come over here tion’s final rule — Removal of Transferred on February 4, 2020; OTS Regulations Regarding Regulatory Re- and actually look at the top income, Whereas, on February 4, 2020, President porting Requirements, Reports and Audits of they are doing fine, but the bottom is Trump delivered his State of the Union ad- State Savings Associations (RIN: 3064-AF13) the remarkable change. dress, in which he honored the sacrifice of received February 5, 2020, pursuant to 5 This is really important, because for the following American heroes and their U.S.C. 801(a)(1)(A); Public Law 104-121, Sec. so many years, I would listen to my families: 251; (110 Stat. 868); to the Committee on Fi- friends on the left come behind these General Charles McGee, one of the last sur- nancial Services. viving Tuskegee Airmen, who served in 3751. A letter from the Director, Office of microphones and talk about income in- World War II, the Korean War, and the Viet- Legislative Affairs, Federal Deposit Insur- equality. It is a real thing. But what nam War; ance Corporation, transmitting the Corpora- happens when you have made more Kayla Mueller, a humanitarian aid worker tion’s final rule — Removal of Transferred progress, particularly in the last 12 who was caring for suffering civilians in OTS Regulations Regarding Certain Regula- months, of closing that gap of income Syria when she was kidnapped, tortured and tions for the Operations of State Savings As- enslaved by ISIS for over 500 days before inequality not because you have sociations and Conforming Amendments to being murdered by ISIS leader Abu Bakr al- crushed those with high skills, those Other Regulations (RIN: 3064-AF14) received Baghdadi; with high wages, but because you have February 5, 2020, pursuant to 5 U.S.C. Anny Staff Sergeant Christopher Hake, brought up so much of our society, you 801(a)(1)(A); Public Law 104-121, Sec. 251; (110 who was killed while serving his second tour have grown their wages remarkably? Stat. 868); to the Committee on Financial of duty in Iraq by a roadside bomb supplied This needs to be our goal. Our goal as Services. by Iranian terrorist leader Qasern Soleimani; 3752. A letter from the Director, Office of a society must be to lift everyone up, and Legislative Affairs, Federal Deposit Insur- not figure out that one quartile you Sergeant First Class Townsend Williams, ance Corporation, transmitting the Corpora- have identified as the enemy and go who is currently serving his fourth deploy- tion’s final rule — Standardized Approach out and decide you are going to crush ment in the Middle East and his wife Amy, for Calculating the Exposure Amount of De- them. That is what our modern politics who works full time for the Army and de- rivative Contracts (RIN: 3064-AE80) received votes hundreds of hours helping military has become. February 5, 2020, pursuant to 5 U.S.C. families; Back to the first slide again. 801(a)(1)(A); Public Law 104-121, Sec. 251; (110 Whereas immediately following the ad- Over the next 30 years, if you look at Stat. 868); to the Committee on Financial dress, while still presiding over the joint ses- the math of what is coming at us, if Services. sion, Speaker Pelosi ripped up an official you actually strip Social Security and 3753. A letter from the Acting Associate copy of the President’s remarks, which con- Medicare out of the next 30 years and General Counsel for Legislation and Regula- tained the names and stories of these patri- say, ‘‘What do we look like 30 years tions, Office of Community Planning and De- ots who sacrificed so much for our country; velopment, Department of Housing and from now?’’—so my little girl, when and Urban Development, transmitting the De- she is 34 years old, what does the Fed- Whereas the conduct of Speaker Pelosi was partment’s final rule — Conforming the Ac- eral budget look like as we see it a breach of decorum and degraded the pro- ceptable Separation Distance (ASD) Stand- today? It is about $23 trillion. If we ceedings of the joint session, to the discredit ards for Residential Propane Tanks to Indus- don’t add Social Security and Medicare of the House: Now, therefore, be it try Standards [Docket No.: FR-6054-F-02] Resolved, That the House of Representa- into the number, it is about $23 trillion (RIN: 2506-AC45) received February 5, 2020, tives disapproves of the behavior of Speaker cash in the bank. Now, that is not in- pursuant to 5 U.S.C. 801(a)(1)(A); Public Law Pelosi during the joint session of Congress flation adjusted, but $23 trillion cash in 104-121, Sec. 251; (110 Stat. 868); to the Com- held on February 4, 2020. the bank. mittee on Financial Services. If we put Social Security and Medi- The SPEAKER pro tempore. The res- 3754. A letter from the Senior Legal Advi- care back into that 30-year window, my olution qualifies. sor for Regulatory Affairs, Office of Invest- ment Security, Department of the Treasury, little girl and every other young per- f son, every other person who thinks transmitting the Department’s Major final they are still going to be around in 30 LEAVE OF ABSENCE rule — Provisions Pertaining to Certain years, we are $103 trillion in debt. Transactions by Foreign Persons Involving By unanimous consent, leave of ab- Real Estate in the United States (RIN: 1505- It doesn’t have to be that way, but sence was granted to: we have got to crush the price of AC63) received February 5, 2020, pursuant to Mr. LEWIS (at the request of Mr. 5 U.S.C. 801(a)(1)(A); Public Law 104-121, Sec. healthcare with technology. We have HOYER) for today. 251; (110 Stat. 868); to the Committee on Fi- got to have people in the economy who nancial Services. f are helping it grow. We need the pro- 3755. A letter from the Deputy Assistant ductivity. We can have a remarkable ADJOURNMENT General Counsel for Regulatory Affairs, Pen- future. sion Benefit Guaranty Corporation, trans- But the intellectual capacity of the Mr. SCHWEIKERT. Mr. Speaker, I mitting the Corporation’s final rule — Bene- debates we are having around here, we move that the House do now adjourn. fits Payable in Terminated Single Employer have functionally gone a year and done The motion was agreed to; accord- Plans; Interest Assumptions for Paying Ben- nothing, nothing that actually helps ingly (at 2 o’clock and 26 minutes efits received February 5, 2020, pursuant to 5 America, but we have done some great p.m.), under its previous order, the U.S.C. 801(a)(1)(A); Public Law 104-121, Sec. House adjourned until Monday, Feb- 251; (110 Stat. 868); to the Committee on Edu- messaging bills and great politics and cation and Labor. ruary 10, 2020, at noon for morning- great grandstanding and pretty good 3756. A letter from the Acting Secretary, speeches. hour debate. Federal Trade Commission, transmitting the We can do better, and there is a path. f Commission’s final rule — Adjustments to Mr. Speaker, thank you for your pa- Civil Penalty Amounts received February 5, tience. I yield back the balance of my EXECUTIVE COMMUNICATIONS, 2020, pursuant to 5 U.S.C. 801(a)(1)(A); Public time. ETC. Law 104-121, Sec. 251; (110 Stat. 868); to the f Under clause 2 of rule XIV, executive Committee on the Judiciary. 3757. A letter from the Director, Regula- CORRECTION TO THE CONGRES- communications were taken from the tions and Disclosure Law Division, U.S. Cus- SIONAL RECORD OF THURSDAY, Speaker’s table and referred as follows: toms and Border Protection, Department of FEBRUARY 6, 2020 AT PAGE H868 3749. A letter from the Director, Office of Homeland Security, transmitting the De- Ms. GRANGER. Madam Speaker, I Legislative Affairs, Federal Deposit Insur- partment’s final rule — Import Restrictions ance Corporation, transmitting the Corpora- Imposed on Archaeological Material from rise to offer a question of the privileges tion’s final rule — Removal of Transferred Jordan [CBP Dec. 20-02] (RIN: 1515-AE51) re- of the House previously noticed. OTS Regulations Regarding Accounting Re- ceived February 5, 2020, pursuant to 5 U.S.C. The SPEAKER pro tempore (Ms. quirements for State Savings Associations 801(a)(1)(A); Public Law 104-121, Sec. 251; (110 DEGETTE). The Clerk will report the (RIN: 3064-AF15) received February 5, 2020, Stat. 868); to the Committee on Ways and resolution. pursuant to 5 U.S.C. 801(a)(1)(A); Public Law Means.

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