Jeb Hensarling

Mr. HENSARLING

Mr. HENSARLING. So, Mr. Speaker, it really comes down to this: If you say you want to do this for a year, put your vote where your rhetoric is. If you are not willing to work over the holidays, admit to the American people you're not willing to work over the holidays. And if you want to support a bill that actually works, talk to the job creators in America. That's the problem in Washington--people get isolated. Talk to the people who are absolutely responsible for this, and they will tell you this 60-day ad hoc approach doesn't work. That's why we need a rule to go to conference and put forth something the American people want and need.

Mr. HENSARLING. The American people know why we are here today. We are here today because the President's economic policies have failed. Since the President was elected, unemployment has been at, near, or above 9 percent, one in seven on food stamps, small business startups at about a 17-year low. That's the Obama economy. And because of that, Mr. Speaker, almost every single Member of the House and Senate agree that we should extend the payroll tax holiday for another year. What is so confusing to many of us is that, as my friends on the other side of the aisle say, yes, we need to do this for a year, like the President said, like the American people expect, and yet they all want to vote against it. So the disagreement we have here is: Do you want to punt the ball down the field, do you want to do this for 60 days and do it again in 60 days for another 60 days, or do you want to solve the problem? That's the first debate. And it really begs the question: Why? Why do we have so many people saying they want to do this for a year and yet they're only willing to vote for 60 days? Are people more interested in making a law that will benefit the American people or are they more interested in making a campaign issue that may benefit their own reelection campaigns? That's the question. The second point of debate is: The American people, many of whom are suffering because of this economy, they're willing to work over the holidays. Are we willing to work over the holidays? The House is willing to work. The question is: Where is the Senate; okay? Since the dawn of the Republic, we've had this thing called a conference committee. You know, if you took Civics 101, you will remember it. The House passes a bill; the Senate passes a bill; they come together in a conference committee and they work out their differences. We stand ready to work over the holidays. And here's the third point: Do you want to pass a bill for messaging purposes or do you want to pass a bill that works? ABC reported last night, ``Two-Month Payroll Tax Holiday Passed by Senate, Pushed by President, Cannot Be Implemented Properly, Experts Say.'' The National Payroll Reporting Consortium--this is the group that handles all the payroll issues for practically a third of all of the private sector workers in the country--said that it ``could create substantial problems, confusion, and costs affecting a significant percentage of U.S. employers and employees.'' And, in fact, the Associated Builders & Contractors have said: This sort of temporary fix underscores Congress's uneven ad hoc approach toward the economy and causes more harm than good for America's job creators.

Mr. HENSARLING

Mr. HENSARLING. I thank the gentleman for yielding. Mr. Speaker, if my friends on the other side of the aisle are confused about why we're here, let me enlighten them. It's because the President's policies have failed. In the Obama economy, employment has been at, near or above 9 percent ever since the gentleman was elected. One in seven are on food stamps, and small business start-ups are at a 17-year low. So, Mr. Speaker, that's why we're here today. I think almost everyone in this Chamber agrees, yes, we want to extend the Social Security payroll tax holiday. But what is so curious to me, Mr. Speaker, is I hear my friends on the other side of the aisle say, we need to do it for a year, but we're only willing to vote for 60 days. I don't understand that, Mr. Speaker. And I hear my friends on the other side of the aisle saying, middle- income families deserve this $1,000 tax cut; yet they're only willing to vote for $160. And then they say, we have to pass it today, we can't let New Year's Day come without passing this; and yet they won't appoint anybody to a conference committee, and everyone is getting ready to run to the airport. I don't understand it, Mr. Speaker. So the question is, are my friends on the other side of the aisle interested in making a law that will help American families and hardworking taxpayers, or are they interested in making a campaign issue that they can recycle every 60 days? Only they can answer the question. Now, Mr. Speaker, it is inconvenient in tough economic times that our constituents have to work over the holidays. Maybe it should be inconvenient to us as well. We stand ready. We just can't do our job if the Senate Democratic leader refuses to appoint anybody and if the House Democratic leader refuses to appoint anybody to sit down and negotiate in good faith. I'm sorry it's inconvenient for my friends on the other side of the aisle to work during the holidays. Then last but not least, I hear my friends on the other side of the aisle saying we need something that works for the American people. Well, guess what? Once again, they didn't consult with the American people. All of the employers that we hear about are saying this is unworkable. The Associated Builders and Contractors, I quote, talking about their 60-day plan: ``This sort of temporary fix underscores Congress' uneven ad hoc approach toward the economy and causes more harm than good for America's job creators.'' I hear from job creators from my own district in Kaufman County, Texas: ``The 2-month extension is more hassle than a help. It's impossible to budget and plan for an unknown.'' Mr. Speaker, if you want a year of tax relief, vote for a year of tax relief. If you want $1,000 in tax relief, vote for it and be willing to work over the holidays.

Mr. HENSARLING

Mr. HENSARLING. I thank the gentleman for yielding. Mr. Speaker, we all need to be reminded of why we're here in the first place. We're here because the President's economic policies have failed. They've failed this Nation. Ever since he was elected, unemployment has been at, near, or above 9 percent. And the people suffer. So that's why I believe almost every Member of this body believes that we must extend the payroll tax holiday. That's not the debate, Mr. Speaker. What is most curious, though, is our President. Our President has said it would be inexcusable for Congress not to further extend this middle class tax cut for the rest of the year. He didn't say 60 days. He said the rest of the year. The Democratic leader has said that she intends to fight to extend these provisions for a full year. So, Mr. Speaker, I guess I'm confused. I hear my friends on the other side of the aisle say they want to do this for a year. They say they want to do it for a year, but they're just not willing to vote to do it for a year. That's most curious, Mr. Speaker. I don't think I understand it. That's what the President asked for. It's what the American people deserve. They don't want us to punt the ball. They want us to do our job. So there is no point of contention on whether or not this should be extended. But the question is: Are we going to do it for a full year, or are we going to punt the ball down the field and, once again, disappoint the American people? Here is the next point of contention: We stand ready to work over the holidays to get this done. That's the question. Are you willing to work over the holidays, or are you not willing to work over the holidays? The American people, most of them, are going to have to work over the holidays. Why shouldn't we be willing to do this? Mr. Speaker, I guess it's just curious how many people seem to be unaware that there is this thing called a ``conference committee.'' Since the dawn of the Republic, these are how differences are settled between the House and the Senate. If you don't remember your Civics 101, and maybe if you have small children like I do, you can go back and watch the Schoolhouse Rock video. It's very clear. All we're asking is that the Democrats appoint conferees and negotiate in good faith-- except the Senate Democrat leader said he wouldn't do it, and the House Democrat leader said she wouldn't do it. So it kind of begs the question, Mr. Speaker: Do they want to make laws that benefit the American people in a time of need, or do they want to perpetuate a campaign issue that maybe they believe helps their campaigns? That's really the question. Then last but not least, we ought to pass laws that actually work around here. ABC News reported last night: ``Holiday Passed by Senate, Pushed by President, Cannot Be Implemented Properly, Experts Say.'' Well, isn't that interesting. The National Payroll Reporting Consortium that handles payroll for about a third of the private economy said that this ``could create substantial problems, confusion and cost, affecting a significant percentage of U.S. employers and employees.'' The Associated Builders and Contractors, the people who actually go out and build things in America, have said: ``This sort of temporary fix underscores Congress' uneven, ad hoc approach toward the economy, and causes more harm than good for America's job creators.'' The leading building trade association in the Nation said the Senate's 60- day plan will cause more harm than good. Mr. Speaker, House Republicans have passed a good and reasonable bill. It's for 1 year. It does what the President asks us to do. It does what the American people ask us to do. It's actually paid for. It doesn't increase the deficit, and it blocks tax increases. I don't know how my friends on the other side of the aisle think we're going to create jobs with temporary tax increases with permanent tax increases. It doesn't happen.

Mr. HENSARLING

Mr. HENSARLING. Mr. Chair, I am proud to support yet another jobs bill put forth by House Republicans to empower small business owners and eliminate burdensome Washington regulations that prevent job creation and hinder economic growth. This bill prevents the EPA from issuing new dust regulations. Additionally, it gives states the flexibility to address any rural dust issues rather than the federal government. During this debate we have heard a lot about the need to protect our air quality and the need to ensure clean air for future generations. As the grandson of a farmer, I know the value and importance agriculture producers place on protecting the soil and water they use to grow quality food to feed the country. I would argue there are no greater stewards of the land than farmers, and that additional rules on these hard-working Americans to regulate rural dust are not only unnecessary, they can be detrimental. In this time of record unemployment, Washington should be on the side of job creators and family farmers, not on their backs. We should support smart regulations that instill confidence in job creators, not abusive red tape that only leads to closed farms and longer unemployment lines. You don't have to take my word for it though. Just listen to some of my constituents: Mr. Cummins of Canton writes, ``Their proposed regulations on milk spills or dust . . . would create undue hardships and be economically unfeasible to attain.'' Mr. Johnson of Mineola writes, ``I feel like the government is passing a law, regulation, unfunded mandate at the drop of a hat these days. [. . .] farmers controlling dust, dairy farmers documenting and controlling milk spills, telling me what kind of light bulb to buy . . . what kind of health care I must have, it is just never ending these days.'' The Farm Dust Regulation Prevention Act is the 35th jobs bill produced by the House Republican Plan for America's Job Creators to restore the freedom and confidence our private sector needs to grow again. After today, with this bill, there will be 27 House-passed bipartisan jobs bills stacked like cordwood on the doorstep of the Democrat- controlled Senate. As America weathers through the Obama Economy and the worst jobs climate since the Great Depression, I urge my colleagues to support our nation's farmers and ranchers and pass this jobs bill.

Mr. HENSARLING

Mr. HENSARLING. I thank the gentleman for yielding. Mr. Chairman, it was just a few weeks ago that our Nation celebrated Thanksgiving. Unfortunately, in the Obama economy, millions could not give thanks for having a job. In the Obama economy, unemployment remains mired at near or above 9 percent. In the Obama economy, one in seven are on food stamps. In the Obama economy, we have seen the fewest small business startups in 17 years. That's why, Mr. Chairman, jobs are job number one for House Republicans. That's why our jobs bills have been passed; but, unfortunately, 25 of them are stacking up like cord wood in the Democratic-controlled Senate. After today, it will be 26 because one of the most important pro-jobs bills is on the floor today, the REINS Act. Mr. Chairman, whether I'm speaking to Fortune 50 CEOs out of Dallas, Texas, where I reside, or small business people in east Texas that I have the privilege of representing in this body, they all tell me the same thing: the number one impediment to jobs in America today is the Federal regulatory burden. I hear from them each and every day. I heard from the Grasch family in the Fifth District of Texas: ``As a small business, I have to bring in an additional thousand dollars a month to break even.'' He's talking about his regulatory burden. ``This is while consumers have less money to purchase my services. I will not invest in any further expansion and therefore not hiring until smarter policies are being conveyed from Washington.'' I heard from the Rossa family, also in the Fifth District, who talks about the regulatory burden from the President's health care plan: ``My company has laid off all staff, and I myself will file for unemployment on Monday. That's about 23 people added to the unemployment rolls next week,'' again due to Federal regulation. I heard from the Nixon family in the Fifth District of Texas. Federal regulation, again: ``We are giving up this part of our business. One person's losing their job. This is just one small example of how excessive government regulation is stifling business.'' It's the number one impediment, and all we're asking today with the REINS Act is that if a regulation is going to cost our economy jobs, if it's going to cost a hundred million dollars or more, let's have congressional approval. It's common sense. It forces accountability. It simply weighs the benefit of a regulation to be balanced with the cost to our own jobs. Jobs ought to be number one in this House, and the number one jobs bill we can pass is the REINS Act. I ask for once that my colleagues on the other side of the aisle join me, and let's put America back to work.

Mr. HENSARLING

Mr. HENSARLING. I thank the gentleman for yielding, and I thank him for his leadership on the balanced budget amendment. Mr. Speaker, since the President was elected, our Nation has now seen its first trillion-dollar deficit, its second trillion-dollar deficit, and its third trillion-dollar deficit. The President and the previous Congress have been on a spending spree the likes of which this Nation has never seen before. And yesterday, Americans were greeted with the news that our national debt has now topped $15 trillion--$128,000 for every household. We are borrowing almost 40 cents on the dollar, much of it from the Chinese, and sending the bill to our children and grandchildren. In short, there is a debt crisis. The debt is not just unsustainable, it is immoral. And the American people know that it's because Washington spends too much, not because they are undertaxed. The problem is on the spending side. Now, taxes are temporarily down due to the economy, but they're going to come back. It is spending that is exploding from 20 percent of our economy to 40 percent over the course of the next generation. If that's solved on the taxing side, we'd be the most highly taxed industrialized nation in the world. Now, the crisis should be solved on the spending side of the equation. I wish we were debating a spending limit amendment to the Constitution. We're not. We had no takers. I know of no takers on the other side of the aisle. So we're debating what is known as the classic balanced budget, the jump ball balanced budget, the clean balanced budget; equal opportunities for spending restraint and tax increases. Now, it's not my preferred policy; yet so many Democrats, Mr. Speaker, will come to the floor and say we need a balanced approach. But the question is: How many believe we need a balanced budget? Now, we all agree that amending the Constitution is something that should be taken with great reverence, with great deliberation. It is a sacred responsibility. Mr. Speaker, we know that our Founding Fathers set up a process by which to amend the Constitution, and no less of a Founding Father than Thomas Jefferson said: ``I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing.'' Forty-nine of 50 States have some form of balanced budget requirement. Every family in America has to balance their budget. Every small business. Should we expect anything less from a great nation? Sixteen years ago was the last opportunity we had in the United States Congress to vote on a balanced budget. We came within one vote, one vote in the United States Senate. Imagine where we would be today had that one vote made the difference and we had this amendment. It's sad. I can tell you, Republicans and Democrats can't seem to agree on spending. We can't seem to agree on taxes. But as Americans, can't we at least agree it's past time, past time to stop mortgaging our children's future and bankrupting the greatest Nation in the history of the world? There is a real crisis, and to paraphrase Winston Churchill: Haven't we now exhausted every other possibility? Isn't it finally time to do the right thing? Amend the Constitution, save the country, balance the budget.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, the legislation before us would increase taxpayer exposure to the housing market by raising conforming loan limits at the Federal Housing Administration (FHA). Hardworking taxpayers, struggling to make their own mortgage payments, should not be forced to subsidize the purchase of $729,750 homes. Taxpayers have already spent almost $200 billion dollars bailing out the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac--why should they also be forced to subsidize the purchase of costly homes for affluent borrowers through FHA? If the GSEs with their implicit guarantee were a problem, then expanding FHA with its explicit 100 percent taxpayer-backed guarantee is a larger problem. I fear that raising conforming loan limits at FHA while allowing the GSE limits to remain at current levels will push all new mortgage originations between $625,500 and $729,750 into full taxpayer backing through FHA. To make matters worse, FHA's present financial state is precarious. For the past two years, its single family Mutual Mortgage Insurance Fund (MMIF) has been undercapitalized. This fund, which is supposed to hold sufficient reserves against unexpected future losses on its existing insurance, is statutorily required to maintain a 2% capital cushion. As of FHA's most recent actuarial report, the Agency is currently 88% below their statutorily required minimum capital ratio. To put that number in perspective, FHA is currently more than ten times more leveraged than Lehman Brothers was when it filed for bankruptcy. Last week, Dr. Joseph Gyourko, an American Enterprise Insitute (AEI) scholar and real estate and finance professor at the University of Pennsylvania's Wharton School, released a report suggesting that FHA is underestimating future losses by many tens of billions of dollars. Dr. Gyourko estimated that the recapitalization required will be at least $50 billion, and likely much more, even if housing markets do not deteriorate unexpectedly. Dr. Gyourko is not the only one who thinks FHA will need a bailout. In FHA's November 15, 2011, annual report to Congress on the financial status of the MMIF, their independent actuary acknowledged there is a nearly 50% chance they will need a bailout: ``With economic net worth being very close to zero under the base-case forecast, the chance that future net losses on the current, outstanding portfolio could exceed current capital resources is close to 50 percent.'' Even the Obama Administration has acknowledged a need to scale back taxpayer support for the housing finance system. In its February 2011 report to Congress on options for the future of housing finance, the Administration encouraged Congress to let the elevated loan limits expire. I do not often find myself in agreement with the Obama Administration, but in this instance, we agree that the private sector simply cannot compete with government guarantees. The best way to get private capital in the game is to get the government out. It is imperative that we work toward comprehensive housing finance reform that will end bailouts and get taxpayers off the hook for bad housing bets. Unfortunately, the underlying legislation works against this goal and for that reason, I must oppose the bill.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I wish to recognize the Demisemiseptcentennial Celebration of the First United Methodist Church in Palestine, Texas. On September 11, 2011, the First United Methodist Church of Palestine will celebrate 175 years of Methodism in Palestine and Anderson County, Texas as well as the 100th anniversary of its sanctuary and worship facilities. For 175 years evangelism, missionary service, youth development, Sunday school, Bible study, fellowship, and worship have been continually celebrated by the congregation from Fort Houston, through the Box home, Bascom Chapel, Centenary Church and now the First United Methodist Church. As Thomas Jefferson said, ``It is in our lives and not our words that our religion must be read,'' it is an honor to represent the parishioners of the First United Methodist Church of Palestine, Texas whose lives exude service and faith.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I wish to recognize the Centennial Celebration of the First Methodist Church in Brownsboro, Texas. On September 25, 2011, the First Methodist Church of Brownsboro will celebrate 100 years of Methodism in Brownsboro and Henderson County, Texas. For 100 years evangelism, missionary service, youth development, Sunday school, Bible study, fellowship, and worship have been continually celebrated by the congregation. As Thomas Jefferson said, ``It is in our lives and not our words that our religion must be read,'' it is an honor to represent the parishioners of the First Methodist Church of Brownsboro, Texas whose lives exude service and faith.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, the American people want more jobs and they want less debt. The American people are telling Washington, you have got to quit spending money you don't have. You have got to quit borrowing 42 cents on the dollar, much of it from the Chinese, and then send the bill to our children and our grandchildren. Our crisis today is not the debt ceiling, it is our debt, and it is a spending-driven debt. That is why we are here today, Mr. Speaker. I would like to say that this bill solves our problem. It doesn't. It's a solid first step. Nobody, nobody on our side of the aisle wants to increase this debt ceiling. It's not in our DNA. But we do believe that ultimately you ought to stay current on your bills, and you have got to quit spending money you don't have. And in this bill, although the sums are very, very small, when we pass this bill, if the President signs it into law, it will be the first time in my lifetime, the first time in my lifetime that for 2 years in a row we have actually cut discretionary spending in Washington, D.C., and made a very slight directional change in the right direction. The numbers are small, the directional change is huge, but more importantly, Mr. Speaker, the seeds of the ultimate solution are planted in this bill, and that is the balanced budget amendment to the Constitution. The American people aren't looking for a balanced approach; they are looking for a balanced budget. To have it work, it needs to be enshrined in our Constitution. This bill will assure, for the first time in 15 years, both the House and the Senate vote on a balanced budget. Those are the seeds of the solution to save this country for the next generation. I urge adoption of this bill.

Mr. HENSARLING

Mr. HENSARLING. I thank the gentleman for yielding. Mr. Speaker, this Nation has a debt crisis not because we are undertaxed but because Washington spends too much. And here we are days before the President's August 2 deadline, and the President of the United States has yet to submit a plan to deal with the debt crisis. Here we are days away from the President's August 2 deadline, and the United States Senate has yet to pass a single plan. Days before the President's August 2 deadline, not only have House Republicans passed their first plan, in a manner of hours we will vote yet again on another plan to deal with the debt crisis that we must remember is spending driven. It's the President's spending that brought us here. Now, the bill that we're bringing to the House floor, Mr. Speaker, is not the ultimate solution. But, Mr. Speaker, it ensures that this Nation pays its current bills, like families, like small businesses have to. It gives us the opportunity to actually cut spending. The amounts are not what they should be, but for the second year in a row, we will have the opportunity to actually reduce spending to save our country and save our children's futures. But most importantly, within this legislation is the opportunity that brings us the ultimate solution, and that, Mr. Speaker, is a balanced budget amendment to the United States Constitution. Every family, every small business, almost every State has a provision that says, we have to balance our budget. Should we expect less of a great Nation? Maybe that's why we have the $14 trillion debt. We must act today, approve this bill, balance the budget for our Nation and future generations.

Mr. HENSARLING

Mr. HENSARLING. I thank the gentlewoman for yielding. I thank her for her leadership on this issue. Mr. Chairman, already we know that in America we are looking at 9.2 percent unemployment. Since the President told us if we would pass his stimulus plan, $1 trillion, unemployment would never go beyond 8 percent, and now he is presiding over the longest period of high unemployment since the Great Depression. We just got the statistics since they've been keeping them. It now takes almost 10 full months for somebody unemployed to find a job. One in seven are on food stamps. The fewest new business starts in 17 years. This economy is not suffering so much from a lack of capital; it is a lack of confidence, and a lack of confidence primarily in the policies of our President and the previous Congress. Part of that lack of confidence is attributable to Dodd-Frank and this CFPB which, yes, does have some wonderful consumer protection powers but also has historic draconian powers to ration and ban consumer credit for families and small businesses. Yet here it is, as the gentlelady from West Virginia, the subcommittee chairman, pointed out, almost a year later that only now has the President seen fit to appoint some type of Director. The lack of confidence in these policies is what is keeping jobs and capital on the sideline. It is incumbent upon us to return that confidence. So, yes, to my colleagues on the other side of the aisle, this is, yet again, another jobs bill. We need to say, You know what, small businesses in America? There is not going to be one czar who controls consumer credit. We're at least going to have a panel representing both primary parties in the United States. And, by the way, at least now somebody will have to consider safety and soundness in what this bureau does. I mean, the people who are telling us don't worry about it are the very same people who told us don't worry about safety and soundness when it comes to Fannie and Freddie. Come on. It's all about consumers. It's all about homeownership. Let's roll the dice. Don't worry about safety and soundness. Well, Mr. Chairman, we have to worry about safety and soundness. American small businesses are worried about safety and soundness. It is time to bring some confidence. It is time to bring some certainty so that we can get our friends, our neighbors and our constituents back to work, because they don't want welfare checks; they want paychecks. And this is one small step we can take today to provide that certainty.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, every day in my district in Texas, I hear from small business people who tell me, I'm afraid to hire new workers because I think this national debt will end up bankrupting my business, not to mention my country. The American people are saying to Washington, quit spending money we don't have. So today, House Republicans will bring to the floor the Cut, Cap, and Balance plan. Cut Federal spending at least back to its 2008 levels. Who is going around saying government wasn't big enough before Barack Obama came here? Cap it. Let's make sure government doesn't grow beyond our ability to pay for it. And then balance. Small businesses, families, States, everyone has to balance their budget except for the Federal Government. Is there any mystery why we have $14 trillion of debt? There is no other credible plan on the table that avoids default and solves the problem. The Senate, 800 days, no budget. The President, he gives us a speech, not a plan. And the only thing he has put on the table is more job- killing tax increases on small businesses. Mr. Speaker, that doesn't work. It is time for cut, cap, and balance.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, this Nation suffers from a surplus of deficits. First, our seniors have a health care deficit because, in the last Congress, Democrats cut Medicare by a half a trillion dollars, hastening its bankruptcy and then creating a new board, called the IPAB, in order to ration the access and quality of their health care. Next, they brought us a jobs deficit. Millions are unemployed and they remain unemployed--the highest duration of long-term unemployment since the Great Depression. Then, Mr. Speaker, we have the financial deficit. After the President's trillion-dollar stimulus program, which has failed miserably, after his $1.4 trillion takeover of our health care system, after an increase of base government--24 percent in 2 years and three trillion-dollar-plus deficits in a row, we now have a debt crisis. So the President says, Do you know what? We need a balanced plan. I want you, Republicans, to raise taxes to pay for my spending. Mr. President, one of the greatest impediments we have to job creation today is the threat of taxes to pay for your spending. Every day, I hear from small business people in my congressional district. I heard from Kristine Tanzillo of Canton, Texas: ``Washington seems to think they can tax its way out of our economic problem, which is not possible. We are not hiring or planning to grow for the next several years. We are concerned that our government will raise taxes or put other burdensome restrictions on us that we will not be profitable.'' The financial deficit is tied to our jobs deficit. The American people have a message for their government: It is time to quit spending money we do not have. It is time to quit borrowing 42 cents on the dollar, much of it from the Chinese, and then sending the bill to our children and grandchildren. It is why, today, House Republicans bring to the floor the Cut, Cap, and Balance program. Cut. It cuts spending to at least the '08 levels. Who thought that government was too small before President Barack Obama came into town? Cap. Since World War II, spending has averaged 20 percent of our economy. Under this President, it's 25 percent, growing to 40. Let's keep it at 20 percent. Balance. Every family in America has to balance their budgets around the kitchen table. Every small business has to balance their budgets as do 49 of the 50 States. But no. Our Democrat colleagues said it is radical. It is radical to balance the budget. What I say is, if we want jobs, hope and opportunity, we must cut, cap, and balance.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, on July 4th, we celebrated our political independence from Great Britain. My constituents want to know when are we going to celebrate our financial independence from China, which funds much of our national debt. My constituents also want to know: Where are the jobs? Mr. Speaker, these two are connected because too much spending-driven debt leads to too few jobs. Now, our President doesn't seem to get this. If his stimulus, his reckless spending, his small business tax increases, his class warfare rhetoric helped promote job creation, we would be the most highly employed society in the history of mankind; but instead, we are mired in the longest period of sustained high unemployment under his policies since the Great Depression. House Republicans have a plan for America's job creators. In the trillion dollar deficits, make the Tax Code fairer, flatter, simpler. Stop the President's job-crushing tax increases, and end the dumb regulations that prevent jobs in America.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, it is my honor today to recognize Lieutenant George Robert Ludwig for his heroic service to our country. Lieutenant Ludwig entered the Army Aviation Flight School at Fort Rucker, Alabama in 1963 and served in Vietnam and Bien Hoa. Lieutenant Ludwig was awarded the Distinguished Flying Cross for his heroism while participating in aerial flight. He first distinguished himself by exceptionally valorous action while serving as an aircraft pilot in action at Dong Xoai, Republic of Vietnam from June 10, 1965 to June 14, 1965. When battle erupted on morning of June 1, 1965, he was flying his aircraft with the mission of providing radio relay and acting as an artillery observer. When word was received that the United States compound at Dong Xoai was under heavy attack by a regiment of Viet Cong, Lieutenant Ludwig, who was flying the only aircraft in the immediate area, unhesitatingly volunteered to act as forward air controller for United States fighter bombers en route to the area. During the five-day period following the Viet Cong attack, Lieutenant Ludwig flew numerous radio relay and artillery adjustment missions, successfully and accurately directing many air strikes in support of the besieged compound. Lieutenant Ludwig also received twenty Air Medals, two Medals of Valor and was the only Army pilot in the Vietnam War to receive the Distinguished Flying Cross by the United States Air Force. I would like to take this opportunity, on behalf of the residents of the 5th District of Texas, to thank Lieutenant Ludwig and his family for their service to this country. We are eternally grateful for our service men and women, past and present, who have fought to preserve liberty for our generation and generations to come.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, it is my honor today to recognize Major General (Retired) Paul E. Landers, Jr. for his heroic service to our country. General Landers served as deputy chief of staff, operations and transportation at Headquarters Air Mobility Command on Scott Air Force Base, Illinois. General Landers was a command pilot, logging more than 5,600 flying hours. His military awards and decorations include the Distinguished Service Medal, Legion of Merit with oak leaf cluster, Distinguished Flying Cross with oak leaf cluster, Meritorious Service Medal with oak leaf cluster, Air Medal with 15 oak leaf clusters, Air Force Commendation Medal and Republic of Vietnam Gallantry Cross with two silver stars. While commander of the 437th Military Airlift Wing, he was awarded the Order of the Sword, the highest honor bestowed by the enlisted force. I would like to take this opportunity, on behalf of the residents of the 5th District of Texas, to thank General Landers and his family for their service to this country. We are eternally grateful for our service men and women, past and present, who have fought to preserve liberty for our generation and generations to come.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, it is my honor today to recognize Captain Richard E. Dwelle from Athens, Texas for his heroic service to our country. In 1942, Mr. Dwelle joined the United States Army Reserves and in 1944, he was commissioned for active duty as a 2nd Lieutenant. In December of 1944, Mr. Dwelle arrived in Europe and was assigned as a replacement officer to M Company, 329 Regiment, 83rd Infantry Division where he received a promotion to 1st Lieutenant. Following his valorous service at the Battle of the Bulge and during the Rhine Campaign, Mr. Dwelle was discharged from active duty in June of 1946 and promoted to Captain in the Reserves. Mr. Dwelle later resigned from Reserves after a decade of service. Mr. Dwelle and his wife Peggy have been an integral part of Henderson County, Texas serving on numerous charitable boards. Mr. Dwelle was named Citizen of the Year in Athens in 1971 and was inducted into the Rice University Sports Hall of Fame in 1997. I would like to take this opportunity, on behalf of the residents of the 5th District of Texas, to thank Mr. Dwelle and his family for their service to this country. We are eternally grateful for our service men and women, past and present, who have fought to preserve liberty for our generation and generations to come.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, since President Obama was elected, 2\1/ 2\ million more of our fellow citizens have lost their jobs. Unemployment has now been above 8 percent for 28 straight months, the longest stretch since the Great Depression, and if you look at the underemployment numbers and those who have simply given up, the situation is far worse. The top three credit rating agencies have now all issued warnings about our spending-driven national debt. A recent report by the Bureau of Labor Statistics says that new business startups are at a 17-year low. Mr. Speaker, we have got to get this Nation back to work. America is experiencing a deficit of jobs because job creators have a severe deficit of confidence in the President's economic policies. Washington cannot help the job seeker by punishing the job creator with massive debt and massive regulations. House Republicans have a plan for America's job creators which will put the Nation on a fiscally sustainable path, make our Tax Code more competitive, help create more American-made energy, and take the burden of regulation off our job creators' backs so America can go back to work.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, we found out last week that new business creation is at a 17-year low, and Americans are asking, Mr. President, where are the jobs? Unemployment has now languished at the highest level since the Great Depression, and Americans are asking, Mr. President, where are the jobs? One in seven families is now on food stamps, and Americans are asking, Mr. President, where are the jobs? The Bureau of Labor Statistics released that the time it takes to get a new job is at an all-time high, and Americans are asking, Mr. President, where are the jobs? House Republicans have a plan for America's job creators to put the Nation on a fiscally sustainable path to restore confidence, to make our Tax Code competitive, and to take the burden of regulation off our job creators so that American workers can get the paychecks they need and deserve.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, today I wish to pay tribute to a true Texas trailblazer, Governor William ``Bill'' Clements. After the loss of his family farm during the Great Depression, a young Bill Clements went to work as an oil-field roughneck, no doubt shaping him into the legendary man and governor Texas would come to know and love. Working his way from roughneck to CEO, the invaluable lessons he learned along the way led him to the White House as deputy secretary of defense for Presidents Nixon and Ford. In 1978, he came home to a Texas politically dominated by the Democrat party to run for governor and, in an upset victory, he became the first Republican elected since Reconstruction. Bringing this experience to the office, Governor Clements changed business as usual in the state by demanding sound budgeting and management policies, taking a tough stance on crime and working toward education improvements. After losing his first re-election bid in 1982, Clements returned to the Governor's Mansion four years later for his second and final term. Governor Clements' hard work and dedication built a firm foundation for Texas's future, and is the reason Texas has remained the successful economic model it is today. After retiring from public life, Governor Clements made his home in Dallas where he spent his days supporting the Texas treasures he loved so much. He was an avid supporter of the Boy Scouts and contributed generously to the organization. Perhaps one of his most significant contributions was the land he and others worked hard to obtain for the Scouts in Henderson County--known today as ``The Clements Scout Ranch.'' As an Eagle Scout and Representative of Henderson County, I am especially thankful for Governor Clements' dedication to Scouting. I know that, because of his time and effort, generations of Scouts in and around Henderson County will enjoy many summers filled with camping, fishing, hiking and horseback riding. We will always remember his infectious love for Texas. Bill Clements truly embodied the Lone Star spirit. While he will be missed, his legacy will live on in the hearts and minds of all Texans.

Mr. HENSARLING

Mr. HENSARLING. Mr. Speaker, I would like to recognize the 80th Anniversary of the Athens Old Fiddlers Contest and Reunion in Henderson County, Texas. Founded in 1932 in Bethel, the contest was moved to Athens in 1933 and found a permanent home at the Henderson County Courthouse on the square in downtown Athens. The Athens Old Fiddlers Reunion is one of the oldest continuous fiddle reunions in the United States, and it is devoted to the preservation of the style of music that once brought courage to our starving troops at Valley Forge, earned devoted admirers like Benjamin Franklin and Thomas Jefferson, and today continues to delight millions. On behalf of the Fifth Congressional District of Texas, I commend the volunteers who generously donate their time and talents to ensure the future of this festival.

Mr. HENSARLING

Mr. HENSARLING. Madam Speaker, I rise to proudly support H.R. 3 for three simple reasons: Number one, this bill just simply helps codify what has de facto been our policy for 35 years through the Hyde amendment, and that is a policy that no way, shape or form outlaws abortion; it simply says Federal taxpayers will not be compelled to subsidize them. Second of all, Madam Speaker, at a time when our Nation is going broke, where we're borrowing 42 cents on the dollar, much of it from the Chinese and sending the bill to our children and grandchildren, maybe, maybe those programs that have the least consensus and are most divisive among us ought to be the first to lose their taxpayer subsidies. Third, and most importantly and profoundly for me, Madam Speaker, in my heart and in my head, I can come to no other conclusion but that life begins at conception. It is our most fundamental right, enshrined in the Constitution. No taxpayer should be compelled against their will to subsidize the loss of human life, truly the least of these.

Mr. HENSARLING

Mr. HENSARLING. Mr. Chairman, earlier this week, USA Today reported that we have the fewest participants in our workforce than at any time in 30 years. And my Democratic colleagues announced their plan to increase taxes $1.5 trillion on our economy, much of it on our small businesses. The Congressional Budget Office has announced that Medicare is going broke in 2020. And my Democratic colleagues announced their plan to double down on the rationing of health care for our seniors. Announcement By the Acting Chair