mr. hensarling: thank you, mr. chairman. never in the history of congress have so few voted so fast to spend so much and indebt so many. the democrats are in a program to spend more money than we have seen in the history of this institution and apparently they want very few speed bumps along the road to bankrupting america. thus last night, almost 3/4 of the republican amendments that would reform, improve government programs, make them more efficient, save the american taxpayer money, were ruled out of order, but i suppose in a modicum of respect for the democrat process a handful of amendments were made in order, i suppose i'm happy mine was one of them. recently our president has said, quote, without significant change in spending and debt, we are on an unsustainable course. we have to take the painstaking work of every dollar, every spending and ask ourselves, is this program really essential? are taxpayers getting their money's worth? can we accomplish our goals more efficiently and effectively some other way. mr. chair

mr. hensarling: thank you, mr. chairman. this is an amendment that would strike an earmark in the bill for the art center of the grand prarie in stutgardt, arkansas. i'm not a big fan of earmarks. it's not to say all earmarks are bad. the gentleman from texas to my left here has proposed several very worth while earmarks. but, mr. speaker, we aren't living in normal times. we are in severe economic stress in our nation today. and as i look at what has happened in the united states congress, what have i observed, is that in the history of congress, never have so few voted so fast to indebt so many. already on top of a staggering, staggering national debt, we have seen a $700 billion bailout program that continues today, a $1.13 trillion government stimulus bill. does nothing to help our economy. $400 billion omnibus bill, choke full of even more earmarks. all of this is costing hundreds of thousands of dollars to hard-working american families. so, mr. chairman, the president himself has said that he is losing sleep at night

mr. hensarling: thank you, mr. chairman. contrary to the gentlelady from maine, i did not come here quite angry, but i do come here disappointed. i'm sure her motives are good and pure, but she has brought to us an earmark that takes $200 ,000 away in order to benefit people in her congressional district. maybe she doesn't understand what $200,000 means to the working families of the 5th congressional district of texas and ultimately maybe she doesn't understand why 46 cents on the dollar, borrowing it from the chinese, something that majority leader steny hoyer once described in increasing the federal deficit, fiscal child abuse. we must have priorities. we must reject this earmark. and i yield back the balance of my time. the chair: all time having expired, the question is on the amendment offered by the gentleman from texas. those in favor say aye. those opposed, no. the noes have it. the amendment is not agreed to. the gentleman from texas. mr. hensarling: i request a recorded vote. the chair: pursuant to clause 6, rule

i see some of what mr. hensarling is saying is borderline psychological abuse. we have had a free market here. that is what caused the problem. it was a free-for-all market. the rating agencies did not do their job. you people supported these "products" where mortgages were chopped up and sold, so even people that were able to come back and tried to pay, they could not because they could not figure out who owned the mortgages. as far as fannie and freddie, that is a code word for racism. low-income people are the only ones who have any regulations at all. and you are saying that for the government to be looking out and checking in advance risk, that is what the rating agencies did not do. the purpose of the it is to prevent bailouts in the future. that is what the president said. so as far as the debt and all that, the republicans racked up 80% of the debt that we are in since george washington. host: thank you. let's get a response. guest: again, we do not have the regulation, we have done regulation. the democrats created a monopoly for ratings agencies, techn

hensarling. >> you certainly make up for the slip. [laughter] >> no nation can bailout, borrow and spend its way into prosperity and that is why i am happy that republicans are united in saying no more bailouts. at the epicenter of the current economic turmoil or federal policies that either incident, cultural or mandate financial and institutions to loan money to people to buy homes who ultimately could not afford to keep them. of all of these failed policies, non-loom larger than those eckert did the government sanctioned monopolies of fannie mae and freddie mac. the expectation, the implicit guarantee of the federal government behind those to gse allow them to swell to unimaginable size and make profits that couldn't have been gained in the marketplace and now expose taxpayers to over $5 trillion of risk. in the 21st century, our housing system can't exist and prosper without fannie and freddie being allowed to monopolize and the market, privatize profits and socialize their losses. now ought current market conditions preclude imme

hensarling. the speaker pro tempore: the gentleman from texas is recognized for two minutes. mr. hensarling: madam speaker, since the democrats have taken control of congress, we have seen their idea to increase the deficit tenfold. we have seen their idea to triple the national debt in 10 years. we have seen their ideas to bailout a.i.g., g.m., fannie and freddie and the list goes on. and today's new idea a. new national energy tax. costing every american family $1,500 to $3,000 a year. only if they choose to turn on a light, cook a meal, or drive their children to school. don't take my word for it. listen to the president of the united states. who said that under his plan, under his plan electricity rates would, quote, necessarily skyrocket, unquote. that's from our president. our gas prices will go up 77 cents a gallon at the pump. now all this is due to global warming concerns. madam speaker, these are legitimate concerns. we have a right to be concerned and manmade activity does contribute. but is this a smart policy? if india and china don't participate, it is for naught. e

hensarling, the gentleman -- the other gentleman from texas, mr. conaway, that's what we should have done that amendment should have been made in order. we need to eliminate section 526 and take the handcuffs off the department of defense. we're b duck -- we're talking about big bucks here. i yield back and do support the amendment. mr. connolly: i thank the support of my friend but i would clarify that we already have tar sand oil, about 6% of the gasoline supply of the united states already has it. we already have the liquefication of coal used in the united states in the bill i hope we'll pass tomorrow or saturday. i yield one minute to the chairman of the committee, mr. skelton. the chair: the gentleman is recognized. mr. skeleton: i stand in support of the connolly amendment, which provides an exception for certain generally available fuels while retaining the greenhouse gas emissions standard that 526 sets for new alternative fuels. let me, mr. chairman, say a word. of thanks. we have thanked the saff and the leadership, they've done so very,

the speaker pro tempore: mr. gohmert. mr. hensarling. mr. paulsen. for what purpose does the gentleman from minnesota rise? >> i ask unanimous consent to speak out of order for five minutes and revise and extend my remarks. the speaker pro tempore: without objection, so ordered. mr. paulsen: we owe our way of life to people and it's important for us to remember that every freedom we enjoy, every moment of safety and every dream we have for the future that we hold was purchased with the blood and sacrifice of our military families. we should not only be thankful for the reality for the quality of our life, but for those who laid theirs down to make it possible. we are aware of the things that make our society run, electricity, gasoline, money, jobs, for example. but our society also runs on values, honesty, integrity, service and sacrifice. our national progress can truly be measured by the quality of our spirit. here again, our military families epitomize these essential american values. they are role models for all of us to follow. with that introdu

hensarling, mr. ryan, we are comfortable that we can exit from those policies at the appropriate time without inflationary consequences, and therefore, we are comfortable with our policy position. >> are the current powers of the fed in your estimation inadequate, excessive or adequate? >> well, i think there are some changes that are worth making. and i would mention specifically -- i was asked a question a moment ago about aig, for example. it was with great, great reluctance the federal reserve got involved in that kind of situation. there being no good alternative to avoid a collapse of a major financial firm and the consequences that would have for the financial system and for the economy. as i've said, for a number of times, at least a year, i think a very critical step that the congress needs to take is to develop a resolution regime that will allow the government, not the fed, but the government to step in when a major financial firm is near default and financial system is in crisis. that wou

chairman. >> the gentleman from texas, mr. hensarling for two minutes. >> thank you, mr. chairman. executive compensation is the wrong remedy for what is probably an onyx system problem. any compensation legislation considered by congress ought to be driven by two key principles. number one, executives of failed companies to come to taxpayers with a tin cup in hand must be subject to compensation limits, period, let there be no doubt. number two, except for the first principle, congress has no business setting artificial and mandatory limits on anyone's pursuit of their american dream. as someone aspires to be the next bill gates, oprah winfrey, warren buffet or charles schwab we should tell them this guy is the limit, go for it. not we are the congress, you will not be allowed to go beyond the tenth floor and by the way, take the stairs. i will be first to admit compensation and for holding this hearing. this issue promises to be one of the most important regulatory reform legislation. recently there's been a number of characterization's of efforts to reform executive compensation

mr. hensarling today for five minutes, mr. smith of new jersey today for five minutes, mr. burton for june 15, 16, 17, 18 and 19 for five minutes, myself, mr. poe, for june 19, mr. jones for june 19 for five minutes, mr. flake for today for five minutes and mr. fleming june 18 for five minutes. the speaker pro tempore: without objection. for what purpose does the gentlewoman from california rise? ms. woolsey: i ask unanimous consent that today following legislative business and any special orders heretofore entered into, the following members may be permitted to address the house for five minutes, revise and extend their remarks and include therein extraneous materials. ms. woolsey of california, mr. schiff of california, ms. richardson, california. the speaker pro tempore: without objection. under the speaker's announced policy of january 6, 2009, and under a previous order of the house, the following members are recognized for five minutes each. mr. paul of texas. for what purpose does the gentleman from texas rise? mr. poe: i wish to claim mr. paul's time. the speaker pr

it is true as mr. hensarling, never before have so few spent so much in so little time. and we in the minority, the fiscal conservatives in the minority today have laid out tonight, mr. chairman, a number of thoughtful alternatives. my friend, mr. campbell, i would like to remain my remaining time to him so he can talk about some of the ideas he laid out and some of the members of the republican study committee. the chair: the gentleman's time has expired. the chair: for what purpose does the gentleman from california rise? mr. campbell: mr. chairman, i rise as a designee of mr. lewis of california to offer amendment number 1707. the chair: the clerk will designate the amendment. the clerk: amendment number 107 printed in the congressional record offered by mr. campbell of california. the chair: pursuant to house resolution 552, the gentleman from california, and a member opposed, will each control five minutes. the chair recognizes the gentleman from california. mr. campbell: thank you, mr. chairman. mr. chairman, we talked here this evening about the debt and we have t

mr. campbell: i rise as the designee of the gentleman from texas, mr. hensarling, for his amendment number 61. the chair: the clerk will designate the amendment. the clerk: part e, amendment number 1 printed in house report 111-184 offered by mr. campbell of california. the chair: pursuant to house resolution 578, the gentleman from california, mr. campbell, and a member opposed each will control five minutes. the chair recognizes the gentleman from california. mr. campbell: thank you, madam chair. angel island immigration station is located in california state park on angel island in san francisco bay. it was an active entry station to the united states from 1910 until 1940 and after 1940 it was -- used by the u.s. military until california state parks assumed ownership in 1963. the earmark in question carves out $1 million for the rehabilitation of the immigration station's hospital. according to the angel island immigration station foundation, the hospital restoration is expected to cost $16 million total and they are currently conducting a fundraisi

mr. hensarling: madam speaker, i rise today to honor the life of william c. dove mccarty. and recognize his commitment and service to his community, the state of texas, and to our great nation. dove a resident of athens texas passed away last month. he was a loving husband of 58 years to jo ann. he was proud father to daughter cynthia and mary lou. he was a devoted grandfather of cole, kyle, michelle, and great grandfather of kristen, preston, and daniel. finally, madam speaker, he was my dear friend. he was born in 1929 in texas and graduated from luisa high school. he proudly defended our nation in the korean war by serving in the united states army. when his service ended dove began what became a legacy of leadership in our free enterprise system and service to his community. he returned to work and eventually owned his own clothing business. he gave back to his small west texas community by shaping the live of younger men as the order of de malay dad and long time boy scout leader. he then moved to my hometown of dallas, texas, where he began a long career and corporat

gomeert for today, june 11, mr. broun for today, mr. hensarling for june 11. the speaker pro tempore: without objection. for what purpose does the gentlelady from nevada rise? ms. berkley: i ask unanimous consent that today following legislative business, the following members may be permitted to address the house for five minutes, revise and extend their remarks and include therein extraneous material. ms. woolsey of california for five minutes, mr. engel of new york, ms. berkley for five palestinians and ms. kaptur from ohio. the speaker pro tempore: without objection. under the speaker's announced spoil of january 6, 2009, and under a previoused orer of the house, the following members are recognized for five minutes each. mr. poe of texas. the gentleman's recognized for five minutes. mr. poe: thank you, mr. speaker. unveiled today was a new energy plan that would increase production of american-made energy in an environmentally sound manner. the american energy act is an all of the above solution that offers good-paying american johns and american energy i

hensarling or his designee. each amendment shall be considered as read, shall be debated for 10 minutes and controlled by a proponent and opponent shall not be subject for demand of division of the question. an amendment in amendment part b, c, d or e of the report may be offered only at the appropriate point in the hearing. after consideration of the bill for amendment, the chair and ranking minority member of the committee on appropriations or their designees each may offer one pro forma amendment to the bill for the purpose of debate, which shall be controlled by the proponent. the clerk: the following sums are appropriated for fiscal year 2010 namely title i, department of the interior, bureau of land management, $950 million. in addition -- the chair: for what purpose does the gentleman from washington rise? mr. dicks: i have an amendment at the desk. delerk clerk amendment number one printed in house report 111-184 offered by mr. dicks of washington. the chair: pursuant to house resolution 578, the gentlem

mr. hensarling: mr. speaker. the speaker pro tempore: the gentleman from texas. mr. hensarling: mr. speaker, i move for reconsideration of the vote. the speaker pro tempore: the motion is on the motion to reconsider. those in favor say aye. those opposed, no. in the opinion of the chair, the noes have it. mr. hensarling: mr. speaker, i ask for a recorded vote. the speaker pro tempore: a recorded vote is requested. those favoring a recorded vote will rise. a sufficient number having arisen a recorded vote is ordered. members will record their votes by electronic device. this will be a five-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of the speaker pro tempore: on this vote, the motion is not agreed to. the clerk will designate the next amendment on which a separate vote is demanded. the clerk: amendment number 98 printed in the congressiona

hensarling of texas, amendment number 105 by mr. campbell of california, amendment number 104 by mr. campbell of california, amendment number 107 by mr. campbell of california, amendment number 87 by mr. flake of arizona, amendment number 86 by mr. flake of arizona, amendment number 85 by mr. flake of arizona, amendment number 91 of mr. flake of arizona and amendment number 84 by mr. flake of arizona. es us as the bailout nation. second of all, i believe, as do many economists, that the federal reserve ought to be concentrated on military policy, tied to inflation -- on monetary policy, tied to inflation targeting. what the administration does instead is diffuse their mission even more and allow them to pick winners and, establishing firms as a systemically risky. next, with respect to the president, he said this is going to be sweeping reform. what i did not know is that he would sweep fannie mae and freddie mac under the carpet. fannie and freddie represented greatest systemic risk these government sponsored enterprises within our

exceed one of the amendments printed in part b in the report of the committee of rules if offered by mr. campbell of california or his designee and five, not to the report of the committee of rules if offered by representative hensarling of texas or his designee. each such amendment shall be considered as read, shall be debatable for 10 minutes equally divided and controlled by the proponent and an opponent and shall not be subject to a demand for division of the question in the house or the committee of the whole. all points of order against such amendments are waived except those arising under clause 9 and 10 of rule 21 except that amendment printed in part b, c, d or e, may be offered at the appropriate points in the reading. at the conclusion of the bill for amendment, the committee shall rise and report the bill to the house with such amendments as may have been adopted. in case of amendments reported from the committee, the question of their adoption shall be put to the house in gross and without intervening demand for division of the question. the previous question shall be consi