Providing For Consideration Of Senate Amendment To H.J. Res. 45, Increasing The Statutory Limit On The Public Debt

Floor Speech

Providing For Consideration Of Senate Amendment To H.J. Res. 45, Increasing The Statutory Limit On The Public Debt

BREAK IN TRANSCRIPT

Mr. PAULSEN. I thank the gentleman for yielding.

Madam Speaker, I rise today in strong opposition to this self-executing rule which will raise our national debt to nearly $2 trillion. That's 12 zeros. I urge Members to vote ``no'' on the previous question so that we can immediately have the House consider H.R. 4566, the END TARP Act, that will end the TARP bailout program once and for all, saving taxpayers about $200 billion.

In the most recent report, the Special Inspector General of TARP himself said the program has failed to boost bank lending and it's also failed in halting the spread of home foreclosures. If the program isn't helping small businesses, if the program isn't helping homeowners, two of its major goals, why do we consider to throw hundreds of billions of dollars of taxpayer money at it?

It's time we got serious about fixing our national fiscal house and spending problems. I urge Members to vote ``no'' on the previous question so that they can bring up the END TARP Act. We can end the bailouts once and for all and not raise the debt ceiling by nearly $2 trillion. \

BREAK IN TRANSCRIPT

Source