Mike Crapo

Mr. CRAPO

Mr. CRAPO. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. CRAPO. Mr. President, I will just take a moment to speak about Senator Vitter's amendment, which I strongly support. During Dr. Yellen's nomination hearing, I noted the need to fill additional vacancies at the Federal Reserve Board with individuals bringing balanced viewpoints. The President should nominate someone with community bank experience to the Board to fill at least one of the remaining vacancies. Community banks play an important role in their local economies and face a disproportionate burden from our existing regulations. We should ensure that the perspective of these banks is represented in policymaking. That is what this amendment does, and I encourage my colleagues to support it.

Mr. CRAPO. Getting terrorism risk insurance right is important in order to protect taxpayers and to limit economic and physical impacts of any future terrorist attacks on the United States. This bill will help us maintain a properly balanced terrorism risk insurance program that increases the Nation's economic resilience to terrorism. Again, I thank Chairman Johnson and Senators Schumer, Kirk, Reed, and Heller for their partnership in bringing this bill forward and encourage its adoption.

Mr. CRAPO. I ask unanimous consent that the order for the quorum call be rescinded.

Mr. CRAPO

Mr. CRAPO. Mr. President, I wish to honor the life of former Idaho Governor John Victor Evans. Governor Evans will be missed, but his impact on Idaho and his legacy of dedicated service will endure. Governor Evans and his family were Idaho pioneers. He was born and raised in Malad, ID. He attended Idaho State University, and like so many of his generation, he went to serve as an infantryman in World War II. After returning from the war, he earned a degree in business and economics from Stanford University. John dedicated much of his life to public service. He served in the Idaho State Senate where he rose to the positions of majority leader and minority leader. He was mayor of Malad, the town he grew up in. In 1974, he was elected Lieutenant Governor before his terms as Idaho's 27th Governor from 1977 to 1987. He led Idaho through a number of challenging times: the historic settlement of water rights, the closure of the Bunker Hill Mine, and the difficult economic times much of the Nation saw in the 1980s. He also contributed to the national dialogue, having served in leadership positions in the Western Governors Association and National Governor's Association. He was dedicated to community service and supported numerous efforts and organizations. He was a member of the Veterans of Foreign Wars, American Legion, the Fraternal Order of Eagles, and the Rotary Club, and he was a Mason. He also held a number of leadership positions for the Independent Community Bankers Association. Following his retirement from public office in 1987, he became president of D.L. Evans Bank in Burley, ID. During his tenure, the bank grew from two banks to 21 banks, assisting thousands of Idaho residents and businesses. Idahoans benefited greatly from his steady leadership in public office and in business. He was known for his open-door policy, strong work ethic and always taking the time to meet with fellow Idahoans. I extend my condolences to his wife Lola, brother Don, children, grandchildren, great-grandchildren and many other family members and friends. He will be greatly missed.

Mr. CRAPO

Mr. CRAPO. Mr. President, my colleague Senator Jim Risch joins me today in honoring James R. Cooper, who is retiring from the U.S. Department of Energy, DOE, where he was a great asset to Idaho during his tenure with the Idaho Operations Office. Jim is retiring as deputy manager for the Idaho Cleanup Project. His responsibilities have included management of spent nuclear fuel and high-level radioactive waste and the exhumation and disposal of cold- war era buried transuranic waste. His work advancing the environmental cleanup mission at the site has helped reduce risk to workers, the public, and the environment. It has also continued protection of the Snake River Plain Aquifer. Through his leadership, environmental cleanup projects have been finished ahead of schedule and under cost, which has enabled resources to be reinvested into furthering the cleanup efforts. Jim's commitment to timely and cost-effective management is commendable. Prior to his position with the Idaho Cleanup Project, Jim worked as the facility and material disposition program manager and was responsible for ensuring the safe and compliant deactivation and decommissioning of nuclear test reactors and other retired nuclear facilities at the Idaho National Laboratory. During this time, he helped lead the cleanup team in successful deactivation and decommissioning projects at the Idaho Site. This included a visionary change in the approach of cleanup at the site. Under Jim's management Idaho crews decontaminated and decommissioned more than 200 facilities. Recognizing this hard work, the Idaho contamination and decommissioning project was awarded the 2013 Secretary's Excellence and Achievement Award for completion of the project's work scope ahead of schedule and under budget. Jim is well respected for his strong leadership and ability to develop relationships and communications that are instrumental in advancing cleanup. Thank you, Jim, for your more than 30 years of service, including 22 years of project management within DOE. You made great progress in the critical effort of cleanup. As you retire, you are truly leaving our State and Nation in better condition. Current and future generations will benefit from your hard work. You have much to be proud of for a job well done. Congratulations on your retirement. We thank you for your outstanding service and wish you all the best.

Mr. CRAPO

Mr. CRAPO. Mr. President, my colleague Senator Jim Risch joins me today in honoring Lemhi County commissioner Dr. Robert Cope, who is retiring from the Lemhi County Commission after 14 years of exemplary service. Cope is not one to shy away from challenges; he faces them head on. He recognizes a problem and works diligently to fix it. This characteristic has been instrumental in his ability to address critical natural resources and environmental challenges. The common sense, wisdom, and humor he brings often to contentious issues have been invaluable in achieving solutions. He is truly a pleasure to work with and know. Throughout his time as commissioner, we have greatly valued his input and approach. Through his efforts with the Idaho Roadless Rule, addressing noxious weed control and many other land management concerns, he has helped bring about solutions important both locally and nationally. He is well-respected as a problem solver and consensus builder. His public service is shaped by his deep personal knowledge and influenced by his distinguished career. Cope, a U.S. Presidential Scholar and Kansas State University College of Veterinary Medicine graduate, thankfully fell in love with Idaho and made Salmon, Idaho, home. He has spent nearly 40 years in veterinary practice, a critical part of the community, working with Lemhi cattle ranchers. He has been counted on to work cattle at all hours of the day and night, often in difficult conditions. The respect many have for his work and understanding of natural resources issues has inevitably led to his service in leadership roles on numerous boards and commissions, including the National Association of Counties, the U.S. Forest Service's National Planning Rule Implementation Committee and the Idaho Roadless Commission. We have greatly valued your insight, Dr. Cope, and thank you for your hard work and outstanding service. We are fortunate that you chose to be an Idahoan. Congratulations on your retirement from the commission. We hope it provides you with more time to spend with your many friends and family, including your wife, Terrie. We wish you all the best.

Mr. CRAPO

Mr. CRAPO. Mr. President, today I wish to honor the life and legacy of former Idaho State Senator Ralph Merrill ``Moon'' Wheeler, Jr. His nearly 40 years of service to the people of Idaho will not be forgotten. With close to 40 years in elected office, Moon was dedicated to improving his community and his State. His public service included time as an Idaho State Senator, a member of the Idaho State House of Representatives, Power County commissioner, and American Falls City councilman and mayor. He was part of numerous Idaho State Senate committees, including on the Health and Welfare and Local Government and Taxation Committees, and interim committees. He also served as chairman of the Indian Affairs Council. Additionally, during his time as Power County commissioner, he was the legislative chair for the Idaho Association of Counties. He had numerous other leadership roles, and he has been widely recognized for his outstanding leadership. This includes his tenure as the president of the Idaho Cities Association. Moon also served on the Idaho State University Alumni Board and on the Dean's Advisory Board for the College of Pharmacy. He earned the College of Pharmacy's 1999 Professional Achievement Award. In 1998, he was recognized with American Falls High School Education Foundation's first Outstanding Alumna Award, and Moon and his wife Ann were honored with the school's Heritage Award in 2009. These are just a few of his many achievements throughout his well-respected career and community involvement. His considerable personal experience helped shape his public service. His family homesteaded in Idaho. He attended the University of Idaho and earned a pharmacy degree from Idaho State University. He utilized his degree as manager and owner of Rockland Pharmacy for more than 30 years. He was also a farmer, retaining the family farm until 2008. He was also an avid fly fisherman, camper, and gardener. I extend my deep condolences to Ann, their children, grandchildren, great-grandson, and many friends and other family members. Moon built a legacy of dedicated service. He left a lasting mark in our communities through the many projects he spearheaded and supported and the countless lives he touched. His commitment to family and community and his exceptional work for Idahoans are central to his remarkable legacy of service.

Mr. CRAPO

Mr. CRAPO. Madam President, I wish to honor Gordon Stewart, who is retiring from serving as the air traffic manager at Boise Airport. Gordon channeled his early exposure to aviation, through family members who owned airplanes, into a distinguished career. Gordon got his start in aviation through his military service. He served for 3 years in the U.S. Army, through which he received his air traffic control training. He was a distinguished graduate at Fort Rucker, AL, in both basic and advanced individual training. He then went on to work at various helicopter training airports, serve in Vietnam, and receive valuable experience working with a wide variety of aircraft at the joint use airfield at Fort Huachuca, AZ. He utilized the experience and training obtained through his military service in his numerous Federal Aviation Administration assignments that built up his deep knowledge of air traffic control. After returning to his family farm in Montana and serving as acting manager at the Flight Service Station in Cut Bank, MT, he spent 3 years at Missoula International Airport, where he learned about nonradar approach. He went on to work for more than a year at Billings Logan International Airport and then at the Salt Lake City Terminal Radar Approach Control, TRACON, before returning to the Missoula International Airport, where he served as acting air traffic manager before obtaining a position at Boise Airport. Gordon worked as a supervisor for 12 years at Boise Airport before becoming the air traffic manager for the past nearly 12 years. His leadership during his time there has been instrumental in making the airport successful. The numerous recognitions he received for his outstanding work include multiple facility of the year awards and a Fire Fighting Award for support of fire fighting in the Northwest Mountain Region. Gordon's effort to remain true to his core values and manage the same way he has parented--fair but firm--has been exemplary. Integrity has been a central element of Gordon's work. He can always be counted on to do what is right. His principled approach to working through considerable challenges has been indispensible. This especially includes his work on the development of the new Boise Air Traffic Control Tower and the effort to locate the TRACON. Thank you, Gordon, for your outstanding and dedicated service. As you retire, you deserve to reflect on your extraordinary career with pride in a job well done. I hope that retirement affords you more time with your friends and family, including your six children. I congratulate you on your retirement and wish you all the best.

Mr. CRAPO

Mr. CRAPO. Madam President, I wish to honor a true Idaho original, a man who set the bar high for ranching and conservation in my State and established a world-class trout fishery. Every so often, a generation produces remarkable characters-- individuals who set their sights high and leave the bar higher for us. Bud Purdy of Picabo, ID, was one of those people. While he could not claim Idaho by birth, he more than proved to be an Idahoan through his experiences, work ethic, and inclinations. He began working on a family sheep ranch in Blaine County at Picabo, near Sun Valley, during summers in 1928. Not long after, a young Bud Purdy climbed nearby Hyndman Peak at over 12,000 feet. He graduated from college by the time he was 20, and despite an offer to go into banking, he chose to manage that family ranch. He was a hunting partner for writer Ernest Hemingway. There wasn't much Bud Purdy could not do. He was still flying his own airplane at the age of 94. He was--and is--considered an Idaho legend. Bud made his mark in Picabo, Sun Valley, and Idaho. Near his ranch there is a creek that is world-renown--Silver Creek. It was along that creek that Bud joined a young Hemingway, actor Gary Cooper, and many others to fish and hunt birds. When Hemingway moved to Idaho in 1959, he had already been hunting with Bud for many years. The Purdy ranch consisted of 6,000 acres along Silver Creek. The waters of that creek are so crystal clear that you can see the trout. I have been one of those lucky enough to fish there. Bud and his family were visionaries. They donated a 3,500 acre easement to the Nature Conservancy that meant the land could never be subdivided, and the world-class fishery remains there today, just like it was when Bud arrived 86 years ago. Bud felt all ranchers should have a strong conservation ethic, and he was one of the first to employ rest-rotation grazing to protect the land and water. Bud got that message out as a founder of the Idaho Rangeland Resource Commission. He was recently inducted into the Idaho Hall of Fame, joining the likes of Hemingway, poet Ezra Pound, skier Picabo Street, former U.S. Senator William Borah, and agri-businessman J.R. Simplot. It was important to Bud to pass along the message to care about the land, and he has succeeded admirably. As he told writer Steven Stuebner in an article for the Rangeland Commission about the ranching profession: Once you get started in it, you're hooked. Every morning, you get up and do something different. You turn out on the range and ride a horse every day. Even now, I go out and make sure the water is OK, check the fences and make sure the gates are closed. It's just a constant going out there and doing it. I was never a cowboy, but I've ridden a million miles. That description of the ranch life in Central Idaho sounds a long way from Capitol Hill, but the hard work ethic and the dedication to principle is what made Bud Purdy an Idaho, and American, hero. His life of service is something we can all aspire to, or as Idaho Governor Butch Otter said, ``someone whose life was a lesson in cowboy ethics, common sense, stewardship and the value of hard work and perseverance''.

Mr. CRAPO

Mr. CRAPO. I ask unanimous consent that the order for the quorum call be rescinded.

Mr. CRAPO. I rise to discuss the nomination of John Owens to the Ninth Circuit Court of Appeals. Mr. Owens, who currently works as a lawyer in California, has been nominated to fill the seat that has been held for the last 25 years by Judge Stephen Trott of Idaho. Judge Trott took senior status on December 31, 2004, making the Trott seat the longest current vacancy of any seat on the Federal circuit courts. That doesn't mean that there haven't been previous attempts to fill this seat. In a letter to the Idaho Senate delegation in 2003, then White House Counsel Alberto Gonzales stated: I also want to make clear the President's commitment to nominate an Idahoan for a second Ninth Circuit seat if Judge Trott retires or assumes senior status while President Bush is still in office. Idaho has had two Ninth Circuit seats for more than a decade, and that allotment is appropriate. As such, when Judge Trott did take senior status the following year, President Bush nominated Judge Randy Smith of Idaho to the Trott seat. At the same time another nominee was pending in the Senate to fill another Idaho vacancy on the Ninth Circuit. Regrettably, Senate Democrats used the longstanding Senate rules that were available at that time to block the confirmation of both Idaho nominees. The reason given by the California delegation for blocking the Randy Smith nomination to the Trott seat made clear that the objections had nothing to do with Judge Smith's qualifications and that they were willing to support his confirmation to the other Idaho seat, the Nelson seat, which is ultimately what happened. As such, the California delegation blocked Randy Smith's nomination to the Trott seat, not because they believed he was not qualified but because they wanted the seat moved to California--and he was not a Californian. The so-called Trott seat on the Ninth Circuit has been held by five different judges, including Judge Trott, since it was first created in 1935. The first judge to hold that seat was from Oregon. The next two judges to hold that seat were from Washington State. Judge Sneed of California, the only judge in that seat to maintain his chambers in California, was the next to hold the seat. Finally, as I mentioned earlier, Judge Trott was the next to hold that seat, and he has maintained his chambers in Idaho for his entire 25 years on the bench. Despite the fact that California already has more than 20--that is right, more than 20--active and senior judges on the Ninth Circuit Court of Appeals, the California delegation apparently believes that Californians have been denied justice for the past 25 years and that the only remedy is to add yet another California judge, leaving the State of Idaho with only one, single active judgeship on the Ninth Circuit. Senator Risch and I had multiple conversations with the White House counsel in President Obama's first term where we expressed our interest in working with the White House and the California delegation to reach a resolution to this long-standing dispute in a way that would satisfy both delegations. Clearly, the Idaho delegation and the Idaho people are disappointed by the President's decision to decline to nominate an Idahoan to fill the Trott seat. It is even more disappointing that declining to submit any nominee for the Trott seat in his entire first term, the President has chosen to wait until the Senate Democrats unilaterally broke the longstanding Senate rules regarding the consideration of nominees in order to push through this nomination, rather than working with the Idaho and California delegations to develop a mutually agreeable solution. If these new Senate rules had been in place when Judge Trott first took senior status, the California delegation would not have had the opportunity it took advantage of to block the appointment of Idaho nominees to this seat. This dispute is not about the qualifications of Mr. Owens. He has been rated unanimously well qualified by the American Bar Association, and I would be happy to work with the California delegation to support his nomination for the next California vacancy on the Ninth Circuit. But I cannot support a process that is the result of an unfair breaking of the Senate's rules in order to push through a nominee that takes away a seat that has been an Idaho seat on the Ninth Circuit for 25 years, leaving Idaho with only one seat on the Ninth Circuit Court of Appeals. Sadly, because of the Senate Democrats' rule change, the Idaho delegation will not have the opportunity to stop this effort. Therefore, I will vote no on this nomination, and my hope is that, if confirmed, Mr. Owens will make the same decision that Judge Trott did 25 years ago by also choosing to maintain his chambers in Idaho. I yield the floor and I suggest the absence of a quorum.

Mr. CRAPO

Mr. CRAPO. Mr. President, I wish to recognize the outstanding work of Shauna Jean Hill Ringel, who is retiring after 22 years of employment with Madison County, ID. Shauna is a native of St. Anthony, ID. She moved to Rexburg with her husband, Brad, in 1970, and she raised three children, Ryan, Shelli and Tracy, in Rexburg. After the death of her husband in 1987, Shauna worked at Madison School District's Burton Elementary School as the school's secretary. She began working for Madison County in 1992, and she served as a clerk of district court, 7th Judicial District. She moved to the Madison County Clerk's office in 1996, and she worked both as deputy county clerk and as Madison County's elections clerk. In 2004, she joined the planning and zoning office. She has participated in emergency management training and helped develop emergency plans for Madison County. The community and our State have been fortunate to have benefited from her devoted assistance that includes significant public service and volunteer work. She served as the co-chair of the Madison County Centennial Committee and coordinated a year of festivities recognizing the pioneer spirit of current and former residents of Madison County. She is also active in the local chapter of the American Red Cross through which she has assisted her friends and neighbors in Red Cross evacuation centers for flooding and wildfire emergencies. She assists families in the Upper Snake River Valley whose lives are disrupted by house fires. Shauna was also deployed to New Jersey to assist with the recovery after Hurricane Sandy, and she assisted with recovery efforts in Montana after devastating wildfires. Shauna is viewed as someone who can be counted on to go the extra mile and put the team ahead of herself. She is respected for her steady, loyal and reliable efforts. Madison County Commissioner Kimber Ricks characterized Shauna as ``a go to' team player. She's always been hard working and reliable; always counted on for good judgment and good nature; and always that sense of humor that helps so much in tough situations . . . Shauna will be missed, but never forgotten.'' Thank you, Shauna, for your outstanding and dedicated service. I hope that retirement affords you more well-deserved time with your friends and family, including your children and three grandsons, and opportunities to do all the activities you love the most. I congratulate you on your retirement and wish you all the best.

Mr. CRAPO

Mr. CRAPO. Mr. President, I rise today to congratulate athletes with strong Idaho ties who competed in the Sochi 2014 Winter Olympics and contributed to three of the U.S. Olympic team's 28 total medals. Their dedication is inspiring. Idaho-connected Olympians earned two gold medals and one silver medal in the Olympic Games in Sochi. Kaitlyn Farrington, who was raised on a ranch in Bellevue, Idaho, earned a gold medal competing for the first time as an Olympic snowboarder in the halfpipe competition. Hilary Knight of Sun Valley competed once again in women's hockey in the 2014 Winter Olympics where the team earned a silver medal. Additionally, Sage Kotsenburg, a Coeur d'Alene native, took home the first-ever gold medal in the new men's slope style event and the first U.S. gold medal in the 2014 Winter Olympics. Six other remarkable athletes also represented our state and nation well on the U.S. Olympic team. Nick Cunningham, a graduate of Boise State University and Sergeant in the New York National Guard, earned 12th place in both the two-man bobsled and four-man bobsled competitions. Erik Fisher, an alpine skier from Middleton, Idaho, went to Sochi as part of the U.S. Olympic team. Simi Hamilton, a Sun Valley skier, competed in cross country skiing, and he placed 6th in the men's team sprint classic and 11th in the men's 4x10k relay. Nate Holland, who grew up in Sandpoint, Idaho, placed 25th in men's snowboardcross in Sochi. Jessika Jenson of Rigby competed in the first Olympic snowboard slopestyle competition in Sochi where she finished 13th. Sara Studebaker from Boise competed in her second Olympics in biathlon competitions at Sochi where she helped earn a 7th place finish in the Women's 4x6k Relay Biathlon. These athletes, like their fellow Olympic athletes from communities across the country and around the world, inspire us to push beyond the limits of what we may think is possible. They commit themselves to significant training and turn that preparation into achievements. Congratulations to Idaho and American Olympians for their extraordinary efforts leading up to and during these Olympics.

Mr. CRAPO

Mr. CRAPO. I ask for the yeas and nays.

Mr. CRAPO

Mr. CRAPO. Madam President, Dr. Yellen's nomination is an opportunity to review the unprecedented actions of the Federal Reserve over the last several years. Five years ago, the Fed began using unconventional monetary policy tools, aggressively pursuing quantitative easing and holding interest rates near or at zero percent. The Fed now has a balance sheet of $4 trillion, a level roughly equal to one-quarter of annual U.S. economic output. The Fed has accumulated this balance sheet by buying Treasuries and mortgage-backed securities at a pace of up to $85 billion each month. I have been a long-time critic of the Fed's quantitative easing purchases. Several noted economists have called into question the benefits of these purchases, suggesting they may be outweighed by risks. These policies, specifically purchasing billions in long-term bonds, can distort pricing in markets and lead to excessive risk taking, creating ``bubble-like'' conditions according to experts like Larry Fink at BlackRock. Bill Gross of PIMCO stated that ``all asset prices, whether it be bonds, stocks, or alternative assets are basically mispriced, artificially elevated'' as a result of the Fed's actions. I am concerned that the markets have become exceedingly reliant on quantitative easing, circumventing pure economic fundamentals in favor of government-stimulated economy. Although a reduction in the pace of asset purchases will finally begin this month, in her nomination hearing Dr. Yellen would not commit to a firm deadline for cutting off purchases. Even after the Fed stops adding to its balance sheet, the question of unwinding the balance sheet remains. Chairman Bernanke and others have suggested that the Fed might maintain the size of the balance sheet for some time, rather than reducing it to a normal level. This would mean that the money created to purchase those assets would remain in place. The President of the Richmond Federal Reserve Bank has called this ``tinder on the books of the banking system.'' He describes a process where banks begin to rapidly lend out those reserves, creating an increase in deposit growth that would put inflationary pressure on the economy. All of this unconventional monetary policy has failed to produce the benefits that were promised. A noted economist recently observed that over the last 4 years, the share of adults who are working has not increased and ``GDP has fallen further behind potential as we would have defined it in the fall of 2009.'' All that is to say that despite unprecedented amounts of monetary intervention, the economy has barely responded. I voted against a second term for Chairman Bernanke due to my concerns with the Fed's unconventional monetary policy. I voted against Dr. Yellen in 2010 for the position of Vice Chair for similar reasons. Since joining the Board as Vice Chair, Dr. Yellen continues to promote the policies that led me to vote against her initially. My position remains unchanged, and I will not vote in support of her nomination. In addition to unprecedented monetary policy, the next Fed Chair will finalize several key financial regulatory reform rules. These rules must balance the financial stability with the inherent need for markets to take on and accurately price risk. They must be done without putting the U.S. markets at an undue competitive disadvantage or harming consumers with unintended consequences. The Chair of the Federal Reserve must understand how different rules interact with each other, what impact they have on the affected entities and the economy at large. For example, a number of community banks were surprised by certain provisions in the recently adopted Volcker rule pertaining to their ownership of certain securitized products, including trust-preferred securities. Notwithstanding assurances by regulators that the final Volcker rule would not disrupt their business model, community banks may now potentially have to divest hundreds of millions of dollars in assets to comply with the rule. I am concerned that the rush to finalize the Volcker rule before year's end--for purely political reasons--was a cause of this carelessness by regulators with respect to community banks. It remains to be seen what other unintended consequences will result from the Volcker rule's adoption. Just as some worried that we did not have enough regulations on the books to prevent the economic crisis, some of us worry that the post- crisis response will result in a regulatory regime that stifles growth and job creation. The Chair of the Federal Reserve must understand the need for that balance and how to carefully manage competing demands without harming the economy. I appreciate Dr. Yellen's comments about the need to monitor the risks to financial stability that current monetary policy creates. I also share her stated concerns about the need to avoid ``one-size- fits-all'' regulations on different kinds of financial institutions, especially ensuring that community banks are subject to ``less onerous'' supervision and regulation. However, given my concerns about the Fed's monetary policy and Dr. Yellen's support of quantitative easing and excessively low interest rates, I will not vote in favor of her nomination. I yield the floor. I suggest the absence of a quorum.

Mr. CRAPO

Mr. CRAPO. Mr. President, today I wish to recognize the outstanding work of an invaluable member of my staff. Karen Ponzurick Brown, who is really quite young, has already reached 25 years of service on Capitol Hill, and she has chosen to retire. For 7\1/2\ years, she has worked tirelessly in a job that calls for 24/7/365 attention. I cannot thank her enough for her dedicated assistance. And I also thank her husband Paul who has shared his wife's attention with me for these many years. Karen came to work for me at a time when technology was rapidly changing for the position that she held. While she had never worked in this type of capacity before, her sharp mind and intuitive sense quickly assessed how to put together a system that ensured Idahoans received priority attention on my schedule. She has been instrumental in creating efficiencies and effective processes in our office and in my time. Karen is conscientious, structured and hardworking. She was accessible to anyone who needed her and was a mentor to many of our staff. Her calm demeanor has soothed many agitated callers seeking appointments. Her sense of decorum has provided me and my staff with a greater sense of professionalism. Her ability to anticipate challenges has saved the day many times over. I have great respect for her thorough, diligent and well-thought-out approach to tackling any problem, and I will truly miss having her input on the many challenges that are encountered in our everyday workplace. But above all her professional qualities, Karen has been a great friend and trusted advisor, and there are no words strong enough to express my gratitude for that friendship, which I hope will continue. No matter the challenges at hand, she always strives to meet and exceed expectations. Karen has been a great asset to me, my staff, Idahoans and countless others throughout her two and a half decades of committed public service. Thank you, Karen, for your dedication. Your confident and strong guidance will truly be missed, and I wish you all the best. Retirement has been a tough choice for you, but I know that you are at peace with that decision, and you are certainly young enough to enjoy it!

Mr. CRAPO

Mr. CRAPO. Madam President, I rise today to discuss the nomination of Representative Watt to lead the Federal Housing Finance Agency, or FHFA. Unfortunately, I cannot support this nomination, and I must urge my colleagues not to support it either. I did not come to this decision lightly, and I regret we are placed in a situation where we cannot support a well-liked Member of Congress. However, by making a political appointment, the President has ignored the importance that the head of the FHFA be independent and viewed as nonpolitical. This is not a cabinet position, where the nominee is supposed to be an advocate for the President. Instead, this is an independent agency with a highly complex task impacting our entire economy, and it is for this reason many Senators noted the need to avoid politics and to emphasize the technical expertise needed to fill this position. Regrettably, this did not occur, and we stand here today with the majority party apparently willing to confirm a political figure to this highly technical position. Worse yet, they appear to be ready to do it in a highly political manner that ignores decades of Senate rules and precedents. Representative Watt has led a long and distinguished career in the House of Representatives and in legal practice. He is well liked by his colleagues, regardless of whether they see eye to eye with him on the issues, and he has a tremendously compelling personal story. My opposition to this nomination has nothing to do with Representative Watt from a personal perspective. To the contrary, there are many positions in government to which Representative Watt could have been easily confirmed. In demonstration of that point, it is worth noting that most of the President's nominees that have come through the Banking Committee have been confirmed with strong bipartisan votes, often with unanimous consent. In fact, four nominees who appeared at a nomination hearing with Representative Watt were all approved by voice vote. However, this position is distinctly unique within our government. Thus, our evaluation of any nominee requires additional scrutiny. The Director of the FHFA is conservator of Fannie Mae and Freddie Mac, which have operated under Federal control since they were taken over in 2008 because they didn't have enough capital to support expected losses. Since that conservatorship began, we have seen the bill to the American taxpayers rise to nearly $200 billion. The Housing and Economic Recovery Act, or HERA, established the FHFA and the rules of the conservatorship. It specifically grants the FHFA the power to operate Fannie and Freddie ``with all the powers of the shareholders, the directors, and the officers,'' so long as they remain in conservatorship. FHFA's conservatorship of Fannie and Freddie triggered those broad powers and the Director of the FHFA now stands alone as the regulator, the top executive, and the shareholder of Fannie Mae and Freddie Mac and their combined $5 trillion of portfolio. Because of this immense power vested in the Director of the FHFA, it is a position that requires an in-depth knowledge of and experience with numerous aspects of the housing markets and mortgage industries. The statute explicitly requires that, at a minimum, any nominee: . . . have a demonstrated understanding of financial management or oversight, and have a demonstrated understanding of capital markets, including the mortgage securities markets and housing finance. Additionally, to be successful, it is logical that any nominee should also have knowledge of and experience with investment portfolios, the operations of both public and private insurance and guarantees, and the management skills necessary to oversee the nearly 12,000 employees employed by both entities. Since this position has virtually unchecked power to control two multitrillion dollar companies, and because the companies control so much of our mortgage-backed securities market, the decisions of the FHFA Director will have tremendous impact on our housing market and, collaterally, on the global market. If we are to give anyone this much power, we must know for certain that he has the experience to know how to make the right choices and, frankly, the political independence to make those choices, even if they are unpopular. One reason this is so important is the impact on the taxpayer. Even a few basis points of losses could mean billions in the context of multitrillion dollar companies. That would be on top of the nearly $200 billion the taxpayers have already shouldered. With those unique risks in mind, the FHFA has taken great strides during the conservatorship to shore up the business practices of Fannie Mae and Freddie Mac. Underwriting standards have been tightened, portfolio holdings have been reduced, guarantee fees have been increased, and risk is being gradually transferred from the taxpayer to the private sector. With these changes, the revenues of Fannie and Freddie have increased, their risks have decreased, and, for now, they have regained a certain amount of profitability. This current profitability creates its own set of challenges and questions. But one thing is certain: Any return to policies of the past, whether with social goals in mind or merely by mistake due to lack of technical experience, could expose the taxpayer to immense risk. In addition to the risks associated with their current operations, the Director will also have a substantial impact on the prospects of the success of these reforms. While Congress and the White House will determine how to reform and strengthen our housing finance system, we need to be able to rely on the director of the FHFA for advice and guidance as we proceed. For this to work effectively, the FHFA Director will need to be seen as a technical expert who is not viewed as a political advocate for the President. The Director of the FHFA must have the market experience to understand how any proposed changes would or would not work, how they would impact access to mortgages while protecting taxpayers from losses, and how they would affect our housing market and economy as a whole. One example: There is a lot of interest in developing markets in a manner to ensure there is adequate private capital taking the first loss to protect the taxpayer, if there is to be some sort of government guarantee in the future. Some proposals call for the development of various private-sector risk-sharing mechanisms, including senior subordinated deal structures, credit-linked structures, and regulated bond guarantors. Many are looking at what the FHFA has already begun working toward as a test for the viability of capital markets' risk-sharing transactions. These risk transfer deals--known within Freddie as the STACR deal, and within Fannie as the NMI and C-Deals-- are important examples of how private capital can partake in this market at a higher level. They are also critical examples of why the FHFA Director must have a deep and sound understanding of the demands of capital market investors. In constructing and monitoring these deals, we need to know that decisions in how to balance the necessity of encouraging private markets with the protection of the taxpayers are being made based upon effective market analysis, absent the political preferences of one individual. Another important aspect of the transition will be development of the common securitization platform. FHFA has noted that the GSEs' infrastructures are ineffective when it comes to adapting to market changes, issuing securities that attract private capital, aggregating data or lowering barriers to market entry. As such, there must be an updating and continued maintenance of the enterprises' securitization infrastructure. This is an incredibly complex undertaking that will take years to develop, but it is an essential component of most reform proposals. Because of this, it is incredibly important the Director, on day one, has the technical expertise and the commitment to establish this potential utility similar to ones used in securities markets. All of us are currently witnessing the consequences of political people leading technical platform development as we watch the continued failures of the rollout for ObamaCare. We cannot afford the same mistakes in the context of our $5 trillion mortgage market. The management of the current assets of Fannie and Freddie is another essential component of the Director's task, for many reasons, both currently and in the future. When Congress passed HERA authorizing the FHFA Director to appoint the agency conservator of the GSEs, it authorized FHFA to put the GSEs in a ``sound and solvent condition,'' and to ``preserve and conserve the assets of the properties'' of the GSEs. Congress very specifically intended that the assets of Fannie and Freddie be managed in such a way to maximize payments to the Treasury in exchange for bailing out the GSEs in 2008 and to maximize their value in whatever system is designed for the future. Acting Director DeMarco has done a commendable job fulfilling this task. However, some believe that other statutory provisions trump this mandate and advocate using the GSEs in manners they believe would achieve other policy goals. Representative Watt noted at his confirmation that, if confirmed, he would decide whether there is sufficient capital to fund various social programs. In order to ensure the taxpayers are made whole and to best position the secondary market for reform, we cannot afford the FHFA Director to make any decisions that do not first prioritize the preservation and conservation of taxpayer assets. So long as Fannie Mae and Freddie Mac are in conservatorship, profits accumulated by the GSEs should not be used to fund social programs. Additionally, we cannot return to any of the policies that contributed to the housing crisis, such as further pressing the GSEs' affordable housing goals. Decisions affecting social housing policy should be made through congressional action on housing financing reform. One final yet incredibly important element of the unique qualifications is regulatory interaction. In a new housing finance system, the already complex web of regulatory interaction between various Federal banking regulators and Federal and State regulators becomes further muddled. State insurance regulators and State banking supervisors must communicate effectively with Federal counterparts. As this system is being built, the FHFA must coordinate effectively with prudential banking regulators and the CFPB to make sure we are not bogging down our economy with duplicative regulation. To accomplish this the Director needs not only to have an understanding that is built of highly technical expertise, but this person must be seen by other regulators as acting without political intent. For all of these reasons, and many more, the conservator must be an apolitical financial regulator with the technical expertise who will resist political pressure from all sides of the political spectrum. Joseph Smith, the last nominee for this position, failed to win confirmation by the Senate because of concerns over whether he was independent enough. At the time of Representative Watt's nomination, the White House was fully aware that these concerns have only been heightened since then. In the wake of repeated attempts by outside political groups and individuals to influence the decisions of the conservator and in view of the countless complex decisions--of which I have only mentioned a few--numerous Senators repeatedly called for a technocrat rather than a political figure. However, rather than acknowledging the unique aspects of this job, the White House chose to ignore calls to emphasize technical expertise and political independence in their search. As a result, their nominee failed to be confirmed by this body just a few weeks ago. Yet again the White House failed to accept the advice of the Senate. Today, because of a historical rewrite of Senate rules, we are now facing another vote. Instead, this time the White House and the Democrats in the Senate chose to break the rules of this body so that they could push through Representative Watt and other nominees in partisan votes. I am disappointed with the White House and those in the Senate who supported this rewrite of our rules, and at some time we will all likely be disappointed that these are the rules of this body moving forward. However, I continue to be opposed to this nomination and urge my colleagues to vote no today when the vote comes before us. I yield the floor.

Mr. CRAPO

Mr. CRAPO. Mr. President, today I wish to recognize the outstanding work of Clay Larkin, who is retiring after serving for 13 years as Mayor of Post Falls, ID. Mayor Larkin has dedicated immense time and covered considerable ground serving the people of Post Falls. He has devoted nearly 18 years to advancing the community, and Post Falls has thrived under his leadership. He served on the city council for 5 years before becoming mayor. As a strong and consistent advocate for the city, he helped bring considerable commerce to the area. His efforts also helped establish a foundation for further economic development and infrastructure improvements. Additionally, under his leadership, community resources, including a library, city hall and police station, have been constructed, and he has worked to protect essential resources. Further, he has invested time and effort into emphasizing opportunities for youth, who are the future of our communities, State, and Nation. Mayor Larkin's work has understandably been recognized through numerous awards and honors. He is acknowledged for his devotion to making progress, his ability to adapt to changes, and his perseverance. Post Falls and Idaho have been blessed to benefit from Clay's sound leadership. I thank Clay Larkin for his exceptional service, congratulate him on his retirement, and wish him all the best. I hope that retirement provides him more time with loved ones and the time for fishing he so greatly deserves.

Mr. CRAPO

Mr. CRAPO. Mr. President, I join my colleagues on the floor today because, like many of them, my constituents are upset. Idahoans are finding out that America's promise to the American people that ``if you liked your health care plan you could keep it'' simply was not true. Over 100,000 Idahoans will find out that they cannot keep their current plans. Idahoans such as Jennifer from Salmon, ID, are finding this out the hard way. Jennifer is a working self-employed mother of three whose current health care costs her family $375 a month. Now Jennifer is being told that her current plan is no longer available under the President's health care law and that the next available plan to her family will cost $900 per month with a $10,000 deductible. That plan will require Jennifer to spend $20,000 a year between premiums and deductibles before she has benefit coverage. This is Kelly, another hard-working mother who was promised affordable and successful health care coverage under ObamaCare. Optimistic to enroll, Kelly and her husband looked to sign up, only to find the plans available to their family were unaffordable and thus inaccessible. The health care law was sold on the premise that it would help families such as Kelly's--those struggling to get by month-to-month in our stifled economy--to obtain affordable, quality health insurance. Instead, Kelly and her husband are now considering taking the penalty fine for being uninsured under the new law as it is a more feasible option for their family at this time. There are many more just like Kelly and Jennifer in Idaho and across the country dealing with new hardships as a result of this law. The President needs to work with Congress to find reasonable solutions to amend the many broken promises made about this law. Thank you, Mr. President. I yield the floor.

Mr. CRAPO

Mr. CRAPO. Madam President, before I make my remarks, I ask unanimous consent that Senator Reed from Rhode Island be recognized immediately following my remarks.

Mr. CRAPO. Madam President, I rise today, also, to speak about a subject on the minds of all Americans and that is the rollout of the Patient Protection and Affordable Care Act or ObamaCare. Many of us have predicted the implementation of ObamaCare would result in difficulties for American families, businesses, and our still fragile economy. We spoke about the tax hikes that would come, the rising premiums, the canceled policies, the benefit cuts to Medicare programs for seniors, and other problems in the flawed law. Still, the President insisted that he was right and that he knew best what Americans wanted. Since then, countless opportunities have been provided for our colleagues to join us in defunding or at least delaying the implementation of this damaging law. To further sow confusion, the administration has selectively changed the law to suit its political advantage. And now that October 1 has come and gone, millions of Americans are becoming painfully aware of the reality of how ObamaCare will affect them. The American people are seeing the effects of ObamaCare, not based on the rhetoric of politicians or the debate here in Congress, but by their own personal experiences in dealing with it. The initial feedback is clear, and it is not pretty. The trillion dollars in new taxes that I led the fight against on the floor during the initial ObamaCare debate are now largely in effect. And as I said, and many others warned, and the Joint Tax Committee has actually confirmed, a significant portion of those tax increases are hitting squarely on the middle-income families the President solemnly pledged to protect. He said that people in America who make less than $250,000 per couple or $200,000 per individual would not see one dime of tax increases as a result of the act. Yet now we are seeing that the burden of this huge tax increase is falling squarely on those in what the President has defined as the middle class. The American people are also now experiencing for themselves the reality we have long warned against--that the President has also broken his promise that his health care plan would lower premiums by $2,500 on average for Americans. In fact, the Washington Post fact checker gave that President's pledge a three Pinocchios score for not being true. Yet another promise proven to be false is the President's pledge to the American people that if you like your doctor and you like your current health care plan, you can keep it. Again, the Washington Post reviewed this pledge. But this time it gave the President four Pinocchios saying, ``The President's promise apparently came with a very large caveat: If you like your health care plan, you'll be able to keep your health care plan--if we deem it to be adequate.'' I recently received a letter from Nancy from Eagle, ID, about the loss of her husband's employer-provided coverage. The cancellation notification reads that ``due to the Affordable Health Care Act and unprecedented increases in healthcare costs, effective January 1, 2014 traditional comprehensive medical insurance will no longer be available.'' Instead, his employer will offer two preventive health care plans and refer them to the exchange to purchase his insurance. After browsing the exchange Web site, Nancy and her husband have realized they will either be forced to pay $500 more a month on health insurance premiums or pay a lower premium rate which would result in limited access to providers and hospitals. Simply put, this is wrong. But I fear that there will be many more like Nancy with similar experiences. This week I was contacted by Matt from Meridian, ID, about his wife who receives coverage through her employer. They will see their premiums rise and a considerably higher deductible due to the increased cost to her employer because of ObamaCare. Just 1 month after the ObamaCare exchange rollout, at least 3.5 million Americans have received insurance cancellation notices. This number is expected to dramatically increase in coming months. Over 100,000 of those people live in Idaho, according to the Associated Press. According to media reports, the administration knew Americans would not be able to keep their current coverage, even though the President continued to push the message that people could. After breaking this promise, the President is now telling millions of Americans who have had their insurance cancelled that they should shop around for policies that frankly could be more costly and require them to change their doctors. Many of my colleagues in the Senate, as a response to this, are cosponsoring a measure known as the If You Like Your Health Plan, You Can Keep It Act. This act is one the Senate should immediately take up and pass. Idahoans are now learning that the flawed health care law will force them to change their plans and in many cases pay higher premiums. While this law was sold on the promise of providing health care coverage for the uninsured, it is creating new uninsured Americans who will be forced to enter the troubled Federal health care exchanges. At the same time, the administration refuses calls for transparency and hides information about enrollment numbers. It is hard for me to believe that in the year 2013, when we have iPhones, tablets, Twitter and Google, the administration has no idea or ability to release enrollment numbers. According to documents released recently from the House oversight committee, six people signed up for ObamaCare on day one. We understand that more are signing up now, but it could be that the administration has such low numbers of enrollments for their signature achievement that they do not want to present the accurate facts. Many of us in this body are concerned also about the security risks posed by ObamaCare. Several weeks ago, Republican members of the Senate Finance Committee wrote to Department of Health and Human Services Secretary Kathleen Sebelius, asking whether all Federal privacy and security standards were met prior to the launch of healthcare.gov, the Web site to sign up for ObamaCare. We have asked Secretary Sebelius to provide answers and information to a series of questions detailing what levels of security and privacy measures were undertaken prior to the launch of the Web site to safeguard the privacy of those Americans signing up for coverage through healthcare.gov. This is a serious concern that must be addressed. Additionally, because of the law, some businesses are cutting back on employees and on hours, making it harder for Americans to find full- time jobs. Those who do hold on to their full-time jobs could lose their employer-sponsored private insurance and are instead being dumped into the exchange or into the failing Medicaid system. These are just some of the unfortunate realities we are facing with the implementation of ObamaCare. As these stories continue to pour in, I urge all of my colleagues on both sides of the aisle, along with the President, to carefully listen to the American people, to American businesses and this feedback and work together to defund and repeal every element that proves not to work. We must replace those failed policies with true reforms that are in the best interests of the American people and in the best interests of the American economy. From day one, the administration has continued to make excuses for why healthCare.gov is not functioning properly, even though they have had years to prepare and perform testing. The American people see now that this law is more than just a Web site problem; it is a train wreck. This system was not ready and the law looks impossible to fix. Simply put, the promises of this law are nothing like its realities. I yield the floor.

Mr. CRAPO

Mr. CRAPO. Madam President, today I wish to honor the life and legacy of an outstanding conservationist, sportsman, and dear friend. Paul Ralstin's interest in the outdoors and wildlife conservation began at a young age, when he was an active Boy Scout and Eagle Scout. He grew that appreciation into a strong devotion to advancing conservation efforts as an active Ducks Unlimited volunteer, hunter, and fisherman. A graduate of Capital High School, Paul grew up and lived in Boise. In addition to serving in multiple leadership roles in Ducks Unlimited, Inc., Ducks Unlimited Canada, and Ducks Unlimited de Mexico, Paul was successful in the construction industry as owner of the family construction business, Gem State Builders. Paul also helped develop opportunities for others through serving as a mentor. Throughout his life, Paul led with a heartfelt exuberance. His wit, friendliness, sense of adventure, and fun-loving spirit will be forever remembered. I have greatly valued his friendship and insight and extend my deep condolences to his wife Jeanne, children, and many friends and family. Paul's exemplary commitment to improving our natural resources and wildlife habitat will not be forgotten. His enthusiasm and dedication will live on in the many lives he touched throughout his life.

Mr. CRAPO

Mr. CRAPO. Mr. President, my colleague Senator Risch joins me today in honoring the life of former Idaho Secretary of State Pete Cenarrusa. The State of Idaho lost a dear friend with the passing of Pete Cenarrusa. Pete had a unique capacity to lead people and institutions with good will, great humor and wise counsel. Pete was a personal friend and adviser to both of us, and we will forever remember the example he set for all public servants. Throughout his distinguished career, Pete was widely respected for his integrity, fairness, determination and dependability. He dedicated more than 50 years to public service, serving nearly 36 years as Idaho's Secretary of State and nine terms in the Idaho House of Representatives, three of which he served as Speaker of the House. In addition to his public service, Pete ran a successful sheep operation with his wife of 66 years, Freda. He was also a private pilot for 59 years and was a high school teacher in Cambridge, Carey and Glenns Ferry, ID. Additionally, he served as a U.S. Marine Corps officer, aviator and instructor, which included his service as a pilot in World War II. Further, Pete was a strong advocate for the Basque community. Pete and Freda founded the Cenarrusa Foundation for Basque Culture that has provided resources for the promotion of the Basque culture. Like the many people who greatly respected him, Pete's list of qualities and experiences is remarkably long. Pete lived life to the fullest. He developed skills in a variety of fields and utilized his talents and principles for the betterment of Idaho. We are truly blessed to have known Pete and to have learned from his example of committed service, honesty and resolve. Pete's long and dedicated service to the people of Idaho will last forever. He was a beloved public servant, rancher, pilot, veteran, teacher, son, brother, husband, father, uncle, grandfather, great-grandfather and friend. Our thoughts and prayers are with Freda, their family and all of Pete's friends.

Mr. CRAPO

Mr. CRAPO. Madam President, I rise today to discuss the multiple issues that have now presented themselves to us in the Senate and to the U.S. Congress and, frankly, the American people. I have been in several hearings this morning. The first was with Secretary of the Treasury Jack Lew, where the Finance Committee discussed with him the pending expiration of our debt ceiling and what his understanding is of how that will impact the country. He raised a lot of serious concerns--very legitimate serious concerns--that others are raising. We then followed that up with a hearing in the Banking Committee where we had representatives from a number of the various industries in the United States also discussing what is going to happen in the United States if the country does not increase the debt ceiling. And there are serious consequences that will happen if we do not do this. But what I tried to do in both of those hearings--and I will refer to my conversation with Secretary Lew--was to focus us back on the broader, bigger threat. Secretary Lew basically said that we have a manufactured crisis in the United States because of our unwillingness at this point to face the debt ceiling and simply extend the debt ceiling without any kinds of conditions or negotiations. I reminded him that the crisis we face--the big crisis we face--is the debt crisis, and it is very real. I guess in a sense it has been manufactured over the last 20 or 30 years by Congresses and Presidents who have refused to control spending and have put us into tremendous debt. Our debt ceiling we are negotiating about right now--or I think wishing we could negotiate about right now--is $16.7 trillion. It has grown by trillions of dollars over the last 5 or 6 years. What the President has asked us to do is to once again increase the debt ceiling by another $1 trillion or more with no reforms, no fiscal changes in our policies to deal with the mounting spending crisis we face. The President's position is: You give me this $1 trillion or more of new debt authority, and I will then talk to you about reforming our fiscal policy. The problem is we have been trying to negotiate over fiscal policy now and trying to get reforms put into place for years and we have not been able to get there. When I asked Secretary Lew about this, he basically said: We have made progress on our overall debt crisis in the past few years, and I think we can continue to work on those kinds of steps if you will simply pass this clean debt ceiling extension and do so in a way that involves no negotiations from the President in any way. I reminded him that a major part of the progress we have made in the last couple of years was made when we met the debt ceiling 2 years ago in 2011. It was the Budget Control Act that put into statute over $2 trillion of reductions in our spending path. That was attached to the debt ceiling as we moved forward. It was literally the debt ceiling negotiation that generated the only significant spending controls this Congress, this country, has seen for years and years. Yet the President refuses to take another step now that we have met the debt ceiling again and negotiate for further reforms. By the way, there is another reason we have made some progress in the past few years. That is that we have implemented massive new taxes on the American people. The ObamaCare legislation itself contains nearly $1 trillion of new taxes, and although they were delayed for a few years, they are now beginning to fully hit the American people. Last January, the President was able to win his argument and succeed in getting the top income tax brackets raised, an impact on our Tax Code that I think was harmful rather than helpful and clearly was damaging to the creation of jobs and to businesses across the United States. But, nevertheless, another $500 billion to $600 billion of tax revenue was put into the mix there. So what have we done? We have made a plan to control discretionary spending over the next 10 years and reduce it by about $2 trillion. If we stick to that, we will get $2 trillion worth of spending reductions. We have raised taxes by at least $1.6 trillion over the next 10 years, all of which, I believe, has been harmful to our economy, but has generated revenue to try to help reduce the debt cycle. But we have not addressed the two critical parts of reform that we must address in this country if we are ever going to get control of our spending excesses and stop the out-of-control spiral toward insolvency that we see; that is, reforming our entitlement system and reforming our broken Tax Code. What have we seen there? Virtually minimal, if any at all, reforms of entitlements. They seem to be off the table. Yet they are the part of our spending problem that is the biggest and the most out of control. On tax reform, we have seen no reform of the Tax Code. We have a Tax Code that is the most unfair, the most complicated, the most expensive to comply with, and the most anticompetitive code we probably could have created if we did it on purpose. Yet we have no reforms of the code. Instead what we have done is add to the code another $1.6 trillion of new taxes on the American people. What we are asking is whether we can move forward in trying to deal with our fiscal problems in this country by negotiating over entitlement reform and tax reform. I frankly believe we ought to be at the negotiating table talking about that. But what we have been told is: No, as soon as you raise the debt ceiling by--the amount we are hearing is somewhere in the neighborhood of $1 trillion--as soon as you raise the debt ceiling, then we can talk further about other negotiations, then we can get engaged in trying to deal with our debt crisis. I pointed out, as I said to Secretary Lew, that the last major progress we made on spending reform happened in negotiations relating to our debt ceiling. Why cannot we negotiate now and make significant fiscal reform in addition to dealing with our debt ceiling? It is that debt crisis that is the biggest problem. I was on the Bowles-Simpson Commission, the President's own commission, that he put together some years back, 2 or 3 years now. We spent a full year studying the impacts on our economy of America's fiscal excess and what we needed to do. The Bowles-Simpson Commission came up with a plan. It was a proposal. We concluded that--this was 2 or 3 years back--we needed to reduce our spending path, our debt path in the United States by at least $4 trillion. We concluded we had to deal with that by reforming our entitlement system and we had to deal with it by controlling discretionary spending. We agreed to having some of that tax revenue the President was demanding. We also agreed that in the overall mix we would have about a 3-to-1 ratio of spending cuts to revenue. The President did not accept that recommendation. Many of us tried for months and months and months afterward to get that recommendation to the floor for a vote. But it has not made it to the floor for a vote. My point is, negotiations have been under way for years and years. Significant plans have been developed that would help us move forward. We know what to do. We need to have the will to do it. So far, the only reforms we have been able to get in the last few years as a result of the debt crisis that we face have come when we have met these pressure points dealing with our debt ceiling. We are not asking to shut down the government for the purpose of simply making a point. We are trying to get to negotiations. We want to see the government reopened. We are not seeking to have the debt ceiling expire. We want to have negotiations to be able to put together the kinds of fiscal reforms that should always accompany extensions of the debt ceiling. I believe the reason Congress put a statutory debt ceiling in place in the first place was because it wanted to give America a gut check every so often about the spending problems we have. We have put almost half of the entire spending system of the government on auto pilot. We do not even have the opportunity to vote on it here in Congress. Ultimately, we have to deal with the debt ceiling. Ultimately, we have to deal with the funding to keep our government operational. Let's not just move forward and accomplish those objectives, leaving in place the unrestrained fiscal crisis we are dealing with in this country. Let's use this opportunity to put together the kinds of fiscal reforms that should accompany decisions to allow our country to increase its debt. I yield the floor, and I suggest the absence of a quorum.