Member of Congress
Mike Coffman
- Role
- Former Representative
- State
- CO
- Party
- Republican
Speeches
OUR UNCONSCIONABLE NATIONAL DEBT2010-09-22
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,476,661,616,652.10. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,838,235,870,358.30 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-09-15
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,440,225,498,627.42. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,801,799,752,333.60 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
FEDERAL FURLOUGH BILL2010-09-15
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, one of the most unpleasant adjustments a former small businessman or former State legislator--and I am both--faces in coming to DC is the unlimited ability of the Federal Government to deficit spend. We all know that small businesses have to balance the books, or they go out of business. At least, that was true before the bailout culture took hold here in DC. And unlike the spendthrift ways prevalent in this building, State governments generally have to balance their budgets. Currently, at least 24 States, and nearly three fourths of a million workers, are undertaking a budget-cutting maneuver that I believe we should consider at the Federal level: short term employee furloughs. These States, across the Nation, along with city and county government counterparts, recognize that occasional worker furloughs are necessary to cut budgets and hold down spending. It also has the benefit of ensuring that Federal workers are not sheltered from the realities of life in today's economy. The Federal Government continues to grow, and continues to rack up debt. I would like to make the U.S. Government as cost conscious as the States. My legislation is a start. It will make Federal civilian employees subject to a non-consecutive two-week furlough next year, correspondingly reduce appropriations for salaries and expenses for offices of the legislative branch, and provide a 10 percent reduction in pay for Members of Congress. An exception is provided for national security or reasons relating to the public health or safety, including effective law enforcement. This bill will save the Federal Government over $5.5 billion. Furlough Fridays are becoming a common occurrence for State and local governments. They present slight problems but they provide large solutions to the budget troubles we face. I believe that managed appropriately, with due allowance for vital and national security implications, as specified in this bill, they can do the same for the Federal Government.
HONORING UNITED STATES ARMY CAPTAIN DALE A. GOETZ2010-09-15
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Mr. Speaker, United States Army Captain Dale A. Goetz, an Air Force veteran with ties to Colorado, joined the Army's chaplaincy out of a strong desire to help others. Captain Dale Goetz and his wife Christy both graduated from Maranatha Baptist Bible College in 1995. He was a former pastor of First Baptist Church in White, South Dakota before being stationed at military bases throughout the world. Earlier this year, Captain Goetz was assigned to the 1st Battalion, 66th Armor Regiment, 1st Brigade Combat Team, 4th Infantry Division at Fort Carson, Colorado, and the family moved to Colorado Springs in January of 2010. This allowed his wife Christy and their sons Landon, Caleb and Joel to be closer to his mother, Hope Goetz, an Elbert County commissioner. Captain Goetz and his family joined High Country Baptist Church in Colorado Springs the day before he deployed to Afghanistan. Captain Goetz, who had previously served in Iraq, cared about the soldiers he worked with as an Army chaplain, and according to his pastor at High Country Baptist Church in Colorado Springs, his goal as a chaplain was not to be a social worker but to be a spiritual guide. Captain Goetz is described as having ``a calm demeanor that helped soldiers find strength in the darkest of times,'' according to Reverend Stuart Schwenke, a fellow pastor he had gone through ministerial training with. On August 30, 2010, Captain Goetz was on a mission in Arghandab River Valley, Afghanistan when insurgents attacked his unit with an improvised explosive device which detonated near their military vehicle. Captain Goetz was gravely wounded and died of injuries sustained during the attack. Four of his fellow soldiers from Fort Carson, Colorado, were also killed in action as a result of the incident. Captain Dale A. Goetz is a shining example of the United States Army's service and sacrifice. As a former member of the United States Army and a retired Marine Corps combat veteran, my deepest sympathies go out to his mother, Hope Goetz, an Elbert County Commissioner; his wife, Christy; their sons, Landon, Caleb, and Joel; and his sisters, Ann Senetar and Kim Sumner.
OUR UNCONSCIONABLE NATIONAL DEBT2010-09-14
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,443,442,988,893.40. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,805,017,242,599.60 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
TRIBUTE TO CORPORAL MAX W. DONAHUE, UNITED STATES MARINE CORPS2010-08-10
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. United States Marine Corporal Max W. Donahue enlisted in the Marine Corps in 2006 from Highlands Ranch, Colorado, and had served two previous combat tours in Iraq before deploying to Afghanistan. Corporal Donahue was a military policeman assigned as a working dog handler with the First Marine Expeditionary Force Headquarters Group, 1st Marine Expeditionary Force, Camp Pendleton, California. Before he was deployed to Afghanistan, Corporal Donahue explained to his mother why he wanted to go there. ``There's not a lot of guys who can do what I can do, and my buddies need me there,'' recounted his mother, Julie Schrock. On August 4, Corporal Donahue was on a mission in Helmand Province, Afghanistan, with his German shepherd, Fenji, when he was gravely wounded by an improvised explosive device and tragically succumbed to his wounds on Saturday, August 7, 2010. Corporal Max W. Donahue was a shining example of United States Marine Corps service and sacrifice. As a retired Marine Corps combat veteran, my deepest sympathies go out to his family, his fellow Marines, and all who knew him.
OUR UNCONSCIONABLE NATIONAL DEBT2010-08-09
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,310,114,269,532.31. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,671,688,523,238.51 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-30
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,246,508,860572.07. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,608,083,114,278.27 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-29
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,247,793,649,102.86. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,609,367,902,809.06 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-28
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,258,280,104,675.66. On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,619,854,358,381.86 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-27
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,252,030,092,034.06. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,613,604,345,740.26 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-26
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,248,524,997,009.91. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,610,099,250,716.11 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
COMMEMORATING UNITED STATES MARINE CORPORAL LARRY D. HARRIS, JR.2010-07-22
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, I rise to pay tribute to a hero: United States Marine Corporal Larry D. Harris, Jr. of Thornton, Colorado. Corporal Harris, a Marine Corps veteran of Iraq and Afghanistan, graduated in 2003 from Boulder High School where he played football and ran track. He loved being an infantry Marine on the front line. Corporal Larry Harris displayed heroism and service to others--both overseas and at home. He was awarded the Navy and Marine Corps Achievement Medal for helping civilians severely injured in an automobile accident near Camp Pendleton. On July 1, 2010, while on patrol in Helmand Province Afghanistan, another Marine was shot in the leg. Picking up his fellow wounded Marine to carry him to safety Corporal Harris tripped an explosive device, absorbing the blast. Though he died in the explosion, his efforts saved the life of the wounded Marine. Corporal Harris is a shining example of United States Marine Corps service and sacrifice. As a Marine Corps veteran, my deepest sympathies go out to his family and to all who knew him.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-22
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,237,494,446,894.52. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,554,068,701.72 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
AMBASSADOR JOHN BOLTON'S ADDRESS TO THE PRO-DEMOCRACY IRANIAN RALLY IN PARIS, JUNE 26, 20102010-07-22
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, on 26 June 2010 tens of thousands of pro-democracy Iranians and hundreds of parliamentarians and dignitaries from Europe gathered in Paris (Taverny), France to express their support for the Iranian dissidents based in Camp Ashraf, as well as the uprising in Iran. Notable among prominent speakers was our former Ambassador to the United Nations, Mr. John Bolton. I believe his speech provides very important guidelines beyond partisan politics, for any American policymaker who is genuinely concerned about Tehran's nuclear threat and is looking for potential options as the solution to the Iranian problem. Ambassador John Bolton's Address Before Tens of Thousands of Iranians and Hundreds of Parliamentarians and Dignitaries from Europe Held on 26 June 2010 in Paris, France Ambassador John Bolton: Thank you. Thank you very much. It's a great pleasure to be here today and to say thank you for the opportunity to address the free people of Iran. I would like you to know and all the people still inside Iran to know how many tens of millions of Americans believe that the policy of the United Sates government should be regime change in Iran. I don't need to tell anybody here today how oppressive the regime is and the crimes it has committed against the people of Iran. This is not a government that is loyal to the people. This is a government that is loyal only to itself and keeping itself in power. What is important, I think, for the rest of the world to understand is how, in the past several years in particular, the regime has become increasingly a military dictatorship, and that this is an oppressive, in fact fascist, regime that controls Iran today. The repression that followed last year's fraudulent June 12 presidential election was an eye opener for many people in the West and certainly in the United States. And this is because not simply that the election itself was fraudulent and not simply because of the brutality of the Pasdaran and the Bassiji against the people of Iran, but because the entire sequence of events revealed just how basic are the flaws in the current regime and just how strong is the opposition of the people of Iran to the regime itself. I must say, speaking as an American, that I found the US reaction to the repression after the June 12 election as very disappointing. I think that the administration did not want to speak the truth about what was going on inside Iran because it was still focused on the open hand that it had extended to the Iranian regime; an open hand for negotiations particularly over the nuclear weapons program. Now, I think, anyone familiar with the regime had to know at the beginning that the open hand would be rejected and that there would be no negotiation over the nuclear program and certainly no negotiations over the freedom of the Iranian people. It remains to this day a disappointment that the administration in Washington has not realized that yet. But I do want to assure you that in the United States, among the people, in the Congress, in the media, and in academic circles, there is an increasing realization that the regime in Tehran is not a regime that we can negotiate with and that the open hand policy has failed. This meeting today is a signal both to the people still trapped inside Iran and the democratic countries all around the world that the people of Iran seek to have control over their own government and to participate in democratic elections. It is a tragedy for Iran that its best friend and closest ally in the world is North Korea; North Korea, which has its own nuclear weapons, which pursues ballistic missile technology that threatens peace and security not only in Asia but in the Middle East as well, which, financed by the regime in Tehran, was building a nuclear reactor in Syria, and which partners with Iran on the nuclear program. It is a regime that is the most dictatorial on Earth today; North Korea is a prison camp. North Korea's people are on the verge of starving; and it still nonetheless pursues nuclear weapons and works with the government of Iran. This is a huge tragedy for the people of Iran. But what it reflects is the isolation of the regime from civilized governments all around the world. It is a fitting tribute to the free people of Iran that so many parliamentarians, from Europe, Canada, the United States, and around the world have begun to see the impact of the regime on the people of Iran. It also has to be troubling that the regime's closest large friends around the world are Russia and China; China which has never had on the mainland true democratic institutions; and Russia which passed from authoritarianism into a period of democracy and may be passing right back into authoritarianism. This is not something that a free Iran would tolerate. Moreover, the regime's support for international terrorism--some have described it as the central banker for international terrorism, supporting terrorist groups all around the world--have helped contribute to the isolation of Iran and the increasing difficulty imposed on the Iranian people. Now, I think that the United States' policy of regime change should be a very active policy. I think the first thing that we need to be clear on is that the United States will not stand in the way of legitimate opposition groups of Iranians who seek regime change in Iran. As all of you know, in many European countries, the designation of the MEK as a terrorist organization has been lifted. That has not happened in the United States yet. But there are many members of Congress who have pressed Secretary of State, Hillary Clinton, to have the State Department reevaluate that designation which after all was first imposed in 1997 during the Clinton administration, many say as a favor to the regime in Tehran. That obviously has not produced anything in response. And I do think that it is incumbent on this administration to make it clear if it has evidence to bring it forward and if it does not have evidence to remove the designation. U.S. opposition to international terrorism is unwavering but it is an opposition that has to be based on facts and not ideology and that is what we need to see. In the short term I believe the United States has a responsibility for the safety of people at Camp Ashraf. At an absolute minimum, the US presence inside Ashraf has to be continued and perhaps expanded back to something like its previous level. I think the UN mission inside Ashraf has to be extended and I think we need to make it clear to the government of Iraq that we will not tolerate interference in the camp and certainly not the kind of assaults that have occurred on the inhabitants of the camp before. This is again something, I think, of a very high priority in the American Congress. I think going beyond simply getting out of the way of legitimate democratic opposition to the regime in Tehran that the United States should be prepared to provide assistance to the opposition; resources and information continuing and expanding, for example, the work of Radio Farda, and other ways to get information to the people still inside Iran. I think the utility of this kind of support has been demonstrated throughout history, such as Solidarity in Poland. Obviously we do not want to do anything that would give the regime the ability to say that the opposition was anything other than fully independent. But, I think our support and the support of other western democracies should go beyond the merely rhetorical. In recent weeks we have seen the UN Security Council impose the fourth set of sanctions against the regime because of its nuclear weapons program. Sanctions are useful to put pressure on the regime and will bring us closer to the day when the regime will fall and there will actually be a democratic Iran. But I do not think that the sanctions unfortunately will be enough to stop the regime's continued pursuit of nuclear weapons. And I worry very much that the Obama administration and our western European friends believe that there is now nothing more that can be done to prevent the regime and the Revolutionary Guards from obtaining nuclear weapons. Their fallback position is that the mullahs and the Revolutionary Guard can be contained and deterred once they achieve a nuclear weapons capability. I think this is a huge mistake for the region and the world but mostly for the people of Iran. The fact is that once this regime gets nuclear weapons it will be immeasurably strengthened and the power of Revolutionary Guards, already considerable, will be strengthened even further. This regime with nuclear weapons is not simply an external threat to its neighbors and stability in the region and the world as a whole, but an even greater threat to the people of Iran. It is the trump card for the regime to stay in power. I think it is very significant here that the position of the democratic opposition is that it does not want an Iran with nuclear weapons. Commentators in the West are continuously telling us that opposition to the nuclear program helps bring the people of Iran into closer support for the regime in Tehran. We know that that is simply not true and I think it is very important that in Maryam Rajavi's platform for the future Iran it says in point 10 very explicitly, (let me quote it so that the media can hear it, this is Mrs. Rajavi's own platform), ``We want the free Iran of tomorrow to be devoid of nuclear weapons and weapons of mass destruction.'' Mrs. Rajavi's position is exactly the right position, because an Iran with nuclear weapons will be a less secure Iran. If this regime gets nuclear weapons, you can count on Saudi Arabia, Egypt, Turkey and perhaps others getting nuclear weapons. So in a very brief period of time, five to ten years, you can have a multi-polar nuclear Middle East that will make everybody less secure and particularly Iran. This is why it is so important that we support the democratic opposition in Iran to see regime change at the earliest possible date. Now, some people in the West, although they do not like to put it this explicitly, basically do not think Iran is ready for democracy. I think they are flatly wrong. Iran is more than ready for democracy. This is something that we feel very deeply about in the United Sates. I would offer to all of you the great insight of our President Abraham Lincoln, who gave us the inspiration that I hope will be of assistance to you, that what we want for the people of Iran is what Lincoln wanted for the people of the United States: government of the people, by the people and for the people.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-21
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,245,998,461,216.30. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,607,572,715.50 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
TRIBUTE TO CORPORAL LARRY D. HARRIS, JR., USMC2010-07-21
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Mr. Speaker, I rise to pay tribute to a hero: United States Marine Corps Corporal Larry D. Harris, Jr., of Thornton, Colorado. Corporal Harris, a Marine Corps veteran of Iraq and Afghanistan, graduated in 2003 from Boulder High School where he played football and ran track. He loved being an infantry marine on the front lines. Corporal Larry Harris displayed heroism and service to others both overseas and at home. He was awarded the Navy and Marine Corps Achievement Medal for helping civilians severely injured in an automobile accident near Camp Pendleton. On July 1, 2010, while on patrol in Helmand province in Afghanistan, another marine was shot in the leg. Picking up his fellow wounded marine to carry him to safety, Corporal Harris tripped an explosive device, absorbing the blast. Though he died in the explosion, his effort saved the life of the wounded marine. Corporal Harris is a shining example of the Marine Corps' service and sacrifice. As a Marine Corps veteran, my deepest sympathies go out to his family and to all who knew him.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-20
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,242,893,842,328.75. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,604,468,096,034.95 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-19
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,239,903,754,450.73. On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,601,478,007.93 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-15
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,189,505,566,215.83. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,551,079,819,922.00 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-14
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,199,290,856,204.31. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,560,865,109,910.50 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
SAN ANTONIO MISSIONS NATIONAL HISTORICAL PARK LEASING AND BOUNDARY EXPANSION ACT OF 20102010-07-13
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Mr. Speaker, on rollcall No. 435, I was unavoidably detained. Had I been present, I would have voted ``no.''
OUR UNCONSCIONABLE NATIONAL DEBT2010-07-13
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today our national debt is $13,194,523,014,378.23. On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80. This means the national debt has increased by $2,556,097,268,084.43 so far this Congress. This debt and its interest payments we are passing to our children and all future Americans.
COMMEMORATING THE NATIONAL ASSOCIATION OF COLORED WOMEN'S CLUBS AND YOUTH AFFILIATES, INC.'S 114TH ANNIVERSARY2010-07-13
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Madam Speaker, today I would like to recognize the National Association of Colored Women's Clubs and Youth Affiliates, Inc.'s 114th Anniversary and 57th Biennial Convention. This convention, scheduled to take place between July 29th and August 2nd in Denver, Colorado will be a fantastic opportunity for such a distinguished club to showcase its achievements and renowned history. The club's history dates back to 1895 when Josephine St. Pierre Ruffin issued a call for a national meeting of women of color to take place in Boston, Massachusetts. This marked the beginning of the National Association of Colored Women's Clubs. Founded by Ida B. Wells, Harriet Tubman, Frances E.W. Harper and Mary Church Terrell in 1896, the NACWC began the uphill battle for women and African Americans throughout the twentieth century. For the past one-hundred and fourteen years, the organization has fought barriers to economic and political advancement for women of color. Its creed encourages members to contribute heavily to community service within American society, particularly to causes related to the plight of the African American woman. It emphasizes the role of all women in improving society for the benefit of everyone. Through their educational workshops and seminars, their scholarship programs, and their youth programs, the NACWC has cultivated the talents of generations of successful women. Historically, the group was the educational and support base for Black Colleges and Universities, which promoted literacy among African Americans throughout the 19th and 20th centuries. The work of the organization's founders and members has proven an inspiration for future African American women to lift up their communities as they climb their respective stairways to success. The National Association of Colored Women's Clubs has become the exemplar of what can be accomplished when women throughout the nation come together to promote interracial understanding, justice and peace among all people, raise the standard of the home, and advance the moral, economic, social and religious welfare of the family. The courage, persistence and unity of the women of the NACWC have served as inspiration and hope for the future of an America that will embrace the value of diversity for generations to come.
MISGUIDED FINANCIAL REGULATORY REFORM2010-07-01
Mr. COFFMAN of Colorado
Mr. COFFMAN of Colorado. Mr. Speaker, I rise today to express my profound disappointment that yesterday, the House passed an ill-advised conference report for the financial regulatory reform bill. This legislation will create a permanent bailout fund for financial institutions. It neglects to reform or place any safeguards on two of the main culprits in this ongoing mess, Fannie Mae and Freddie Mac; and the Federal Government guarantees more than $1.7 trillion of their debt. This misguided bill would create a new government bureaucracy providing unelected Federal bureaucrats the power to determine the types and terms offered by financial products. I have severe reservations about such an action, as it will simply serve to make obtaining credit more unavailable. Finally, this act would be paid for in part by redirecting $11 billion in TARP funds. Unspent TARP funds must be used to pay down the national debt. Instead, this Congress is attempting to utilize these moneys for further increased spending at times when Americans continue to struggle to make ends meet. I urge the Senate to vote ``no'' on the conference committee report.