Providing for Consideration of H.R. 5072, FHA Reform Act of 2010

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Mrs. MYRICK. Thank you for yielding.

Mr. Speaker, the American people get it. They understand Fannie Mae and Freddie Mac need to be reformed.

The Federal Government has spent, as you have heard over and over, $145 billion in taxpayer dollars to prop up these two government entities. And through YouCut, the American people have voted to have shrink the portfolios of Fannie and Freddie. And, most importantly, they have demanded transparency, something that has been missing for a long time in the Federal Government relative to spending.

The Congressional Budget Office estimates that these changes will save up to 30 billion taxpayer dollars. And it's no secret, we can't keep spending money that we don't have.

The American people know this, and they have gone to YouCut to have cast hundreds of thousands of votes over the last 3 weeks to demand we cut reckless spending out of our budget.

We need to do what we were sent to D.C. to do, and that is to vote for the wishes of the people that we represent back home. And a vote to reform Fannie and Freddie is a vote to save the American people, taxpayers, $30 billion.

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