Supporting the goals and ideals of the third annual America Saves Week.

Madam Speaker, from February 3, 2009, to March 4, 2009, I missed Roll Call votes 47-96. Unfortunately, I underwent a surgical procedure and was in California recuperating. Had I been here, I would have voted the following:

Roll Call Vote 47: Yes on the motion to suspend the rules and agree to H. Res. 82, raising awareness and encouraging prevention of stalking by establishing January 2009 as National Stalking Awareness Month;

Roll Call Vote 48: Yes on the motion to suspend the rules and agree to H. Res. 103, supporting the goals and ideals of National Teen Dating Violence Awareness and Prevention Week;

Roll Call Vote 49: Yes on the motion to suspend the rules and agree to H.R. 559, The Fair, Accurate, Secure, and Timely (FAST) Redress Act of 2009;

Roll Call Vote 50: No on the motion to concur in the Senate Amendment to H.R. 2, the Children's Health Insurance Program Reauthorization Act of 2009;

Roll Call Vote 51: Yes on the motion to commit with instructions S. 352, the DTV Delay Act;

Roll Call Vote 52: No on passage of S. 352, the DTV Delay Act;

Roll Call Vote 53: Yes on the motion to suspend the rules and pass H.R. 738, the Death in Custody Reporting Act;

Roll Call Vote 54: Yes on the motion to instruct conferees on H. R. 1, Making Supplemental Appropriations for Fiscal Year Ending 2009;

Roll Call Vote 55: Yes on the motion to suspend the rules and agree to H. Res. 114, Supporting the Goals and Ideals of National Girls and Women in Sports Day;

Roll Call Vote 56: Yes on the motion to suspend the rules and agree to H. Res. 60, Recognizing and commending University of Oklahoma quarterback Sam Bradford for winning the 2008 Heisman Trophy and for his academic and athletic accomplishments;

Roll Call Vote 57: No on the motion to table H. Res. 143, Raising a Question of the Privileges of the House;

Roll Call Vote 58: Yes on the motion to suspend the rules and agree to H. Res. 128, Honoring Miami University for its 200 years of commitment to extraordinary higher education;

Roll Call Vote 59: Yes on the motion to suspend the rules and agree to H. Res. 134, Recognizing the 50th Anniversary of Dr. Martin Luther King, Jr.'s visit to India and the positive influence that the teachings of Mahatma Gandhi had on Dr. King's work during the Civil Rights Movement;

Roll Call Vote 60: No on agreeing to H. Con. Res. 47, Providing for an adjournment or recess of the two Houses;

Roll Call Vote 61: Yes on the motion to suspend the rules and agree to H. Res. 154, Honoring John D. Dingell for holding the record as the longest serving member of the House of Representatives;

Roll Call Vote 62: No on the motion to suspend the rules and pass H.R. 448, the Elder Abuse Victims Act;

Roll Call Vote 63: No on the motion to agree to H. Res. 157, providing for the consideration of motions to suspend the rules, and for other purposes;

Roll Call Vote 64: Yes on the motion to suspend the rules and agree to H. Res. 117, Supporting the goals and ideals of National Engineers Week;

Roll Call Vote 65: Yes on the motion to suspend the rules and agree to H. Con. Res. 35, Honoring and praising the National Association for the Advancement of Colored People on the occasion of its 100th anniversary;

Roll Call Vote 66: No on ordering the previous question on H. Res. 168, providing for consideration of the conference report to H.R. 1, the American Recovery and Reinvestment Act of 2009;

Roll Call Vote 67: No on H. Res. 168, providing for consideration of the conference report to accompany H.R. 1, the American Recovery and Reinvestment Act of 2009;

Roll Call Vote 68: No on the question of consideration of the conference report to H.R. 1, the American Recovery and Reinvestment Act of 2009;

Roll Call Vote 69: Yes on the motion to recommit the conference report to H.R. 1, the American Recovery and Reinvestment Act of 2009;

Roll Call Vote 70: No on agreeing to the conference report to H.R. 1, the American Recovery and Reinvestment Act of 2009;

Roll Call Vote 71: Yes on the motion to suspend the rules agree to H. Res. 139, Commemorating the life and legacy of President Abraham Lincoln on the bicentennial of his birth;

Roll Call Vote 72: No on the motion to suspend the rules and pass H.R. 911, the Stop Child Abuse in Residential Programs for Teens Act;

Roll Call Vote 73: No on the motion to suspend the rules and pass H.R. 44, the Guam World War II Loyalty Recognition Act;

Roll Call Vote 74: Yes on the motion to suspend the rules and pass H.R. 601, the Box Elder Utah Land Conveyance Act;

Roll Call Vote 75: No on approving the journal;

Roll Call Vote 76: Yes on the motion to suspend the rules and H.R. 80, the Captive Primate Safety Act;

Roll Call Vote 77: Yes on the motion to suspend the rules and pass H.R. 637, the South Orange County Recycled Water Enhancement Act;

Roll Call Vote 78: Yes on the motion to suspend the rules and pass H. Res. 83, Recognizing the significance of Black History Month;

Roll Call Vote 79: Yes on the motion to suspend the rules and pass S. 234, the Colonel John H. Wilson, Jr. Post Office Building;

Roll Call Vote 80: Yes on approving the journal;

Roll Call Vote 81: Yes on the motion to suspend the rules and agree to H. Res. 47, Supporting the goals and ideals of Peace Officers Memorial Day;

Roll Call Vote 82: Yes on the motion to suspend the rules and agree to H. Res. 180, Supporting the goals and ideals of the third annual America Saves Week;

Roll Call Vote 83: No on the consideration of H. Res. 184, providing for consideration of H.R. 1105, the Omnibus Appropriations for 2009;

Roll Call Vote 84: Yes on ordering the previous question on H. Res. 184, providing for consideration of H.R. 1105, the Omnibus Appropriations for 2009;

Roll Call Vote 85: Yes on H. Res. 184, providing for the consideration of H.R. 1105, the Omnibus Appropriations of 2009;

Roll Call Vote 86: No on passage of H.R. 1105, the Omnibus Appropriations of 2009;

Roll Call Vote 87: No on the motion to table H. Res. 189, raising a question of the privileges of the House;

Roll Call Vote 88: No on ordering the previous question on H. Res. 190, providing for consideration of H.R. 1106 to prevent mortgage foreclosures and enhance mortgage credit availability;

Roll Call Vote 89: No on H. Res. 190, Providing for consideration of H.R. 1106 to prevent mortgage foreclosures and enhance mortgage credit availability;

Roll Call Vote 90: Yes on the motion to suspend the rules and agree to H. Res. 183, expressing condolences to the families, friends, and loved ones of the victims of the crash of Continental Connection flight 3407;

Roll Call Vote 91: Yes on the motion to suspend the rules and pass H.R. 146, the Revolutionary War and War of 1812 Battlefield Protection Act;

Roll Call Vote 92: Yes on the motion to suspend the rules and pass H.R. 548, the Civil War Battlefield Preservation Act;

Roll Call Vote 93: Yes on the motion to suspend the rules and pass H. Res. 77, congratulating the University of Mary Washington in Fredericksburg, VA for more than 100 years of service and leadership to the United States;

Roll Call Vote 94: Yes on the motion to suspend the rules and pass H. Res. 201, recognizing Beverly Eckerts service to the nation and particularly to the survivors and families of the September 11, 2001, attacks.

Roll Call Vote 95: Yes on the motion to suspend the rules and pass H. Res. 195, recognizing and honoring the employees of the Department of Homeland Security on its sixth anniversary for their continuous efforts to keep the nation safe; and

Roll Call Vote 96: Yes on the motion to suspend the rules and pass H. Res. 45, raising awareness and promoting education on the criminal justice system by establishing March as National Criminal Justice Month.

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 180) supporting the goals and ideals of the third annual America Saves Week.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and to insert extraneous material thereon.

Mr. Speaker, I yield myself as much time as I may consume.

I rise today in strong support of House Resolution 180, supporting the goals and ideals of the third annual America Saves Week, which runs from February 22 to March 1.

Mr. Speaker, I want to take this opportunity to thank Chairman Frank for his assistance in bringing this important and timely resolution to the House floor.

I also want to express my sincere appreciation for all that my friend, Congresswoman Judy Biggert, has done over the years to help improve the financial literacy rates for all the individuals across the United States at all stages of life. In 2004, she and I co-founded and currently co-chair the Financial Economic Literacy Caucus. Without Congresswoman Biggert, I don't think we would have gotten as far as we have promoting financial literacy and, hopefully, making a measurable difference. I must say that we definitely have let the financial literacy genie out of the bottle.

I also want to take this opportunity to thank Congresswoman Biggert's staff, Nicole Austin and Zachary Cikanek and all they are doing to help Judy and me to attain our goal.

Financial literacy is one of the most important issues for most Americans, whether it involves saving enough money for their children's college education, saving for an unforeseen emergency, a house, maybe a car, or their retirement.

The personal savings rate has been low, reaching a 12-month average of 0.6 percent in 2007 before rebounding to a 12-month average of 1.7 percent in 2008. The 2007 Federal Reserve Board's Survey of Consumer Finances found that only 44 percent of American families reported that they did not save in 2007. Furthermore, the survey found that less than half of the population has the following: number 1, a savings account; number 2, a month of savings or liquid assets; and number 3, the Federal Reserve Board's survey also found that those folks residing in the United States don't have 6 to 12 months worth of emergency savings they might need for an incident such as unexpected unemployment, a medical crisis, rent or a mortgage payment adjustment enabling them to avoid foreclosure.

Research has found that there are savers and there are spenders in all income classes, and almost all have the ability to build wealth through contributions to a workplace retirement program, building home equity and other savings.

Older Americans are more likely to live within 200 percent of poverty than any other age group, and more than 60 percent of the current elderly population relies on Social Security for three-fourths of their annual income. What I find even more alarming is that the average savings of retirees remain at $50,000, and the current financial crisis is draining those funds.

To shed light on all these shortcomings, as well as provide ways to address them, America Saves, managed by the Consumer Federation of America, was established 8 years ago as an annual nationwide campaign that encourages consumers, especially lower income households, to enroll as American savers and establish a personal savings goal in an effort to build personal wealth and to enhance financial security. America Saves now has 53 local, State and national campaigns working with over 500 mainstream financial institutions like banks, which provide no-fee or low-fee or low-opening-balance savings accounts that allow small savers to achieve success.

Government and non-government entities at the local, State and national levels organize America Saves campaigns to encourage individuals to open savings accounts, to participate in workplace retirement programs, and devise a savings plan. As a result of America Saves, over 1,000 local, State and national organizations have motivated more than 145,000 people to enroll as American savers.

The primary focus of this year's America Saves Week is establishing an automatic and habitual savings, a theme reflected in the work of the Financial and Economic Literacy Caucus, Federal agencies, non-profits, community-based groups, private sector organizations and the Employee Benefit Research Institutes and its America Savings Educational Council's Choose to Save Campaign. I personally have a 5 percent deduction made from my payroll check and have it placed into my savings account in the Federal Thrift Savings Program.

I want to acknowledge the tireless efforts of the late Congresswoman Stephanie Tubbs Jones to eliminate predatory lending, increase the Nation's savings rate, and to improve the overall economic situation of all those residing in the United States. I respected her personally, and want all those listening today, and for all those who will read today's Congressional Record far into the future, to know how much we respected her, that we miss her and honor her today for her relentless dedication to protecting consumers at a very difficult time. Through her efforts and hopefully, now those of the Financial and Economic Literacy Caucus, Congresswoman Biggert and I co-founded and now co- chair, we hope to protect our constituents and encourage savings.

I am very pleased that Federal agencies, States, localities, schools, nonprofit organizations, businesses, other entities and the people of the United States are observing the third annual America Saves Week with a goal of increasing the savings rates for individuals of all ages and of all walks of life.

I strongly encourage my colleagues to support this important resolution.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I am quite surprised to hear the thoughts and ideas of my friend from Texas, and I am of the total opposite belief.

I say that saving at this time is the right thing for America, and that is why we saw such an increase in savings in 2008, because the American public has lost confidence, has lost hope in what happened to the stock market in 2008. So I say that Americans are correct in saving their money in ways that they know how and that they follow the ideas that this organization that Mrs. Biggert and I have been championing, because it is the right thing to do. I urge all Members of this Congress to vote in favor of this resolution.

I yield back the balance of my time.

Mr. Speaker, on that I demand the yeas and nays.

I thank my colleague.

I have enjoyed working with my good friend, Congressman Hinojosa. We in the Texas delegation, I know, Mr. Hinojosa knows, we work more closely together, I think, than almost any delegation in the country and take a great deal of pride in being Texans.

I thank my colleague for his earnest and sincere resolution which he presents to the Congress today in an effort to encourage individual Americans to increase their savings. My good friend Judy Biggert has coauthored this, and it is a noble and worthwhile resolution.

However, as we, the Congress, adopt this resolution that designates this week as America Saves Week, I think it's important to point out, Mr. Speaker, the incredible and dramatic contrast between the goal we are setting here today for individual Americans and the complete opposite direction that the leadership of this Congress and the President pointed out last night.

I am reminded that Will Rogers often said he didn't tell jokes; he just reported on what Congress did. Today, Congress is asking the American people to save money; yet this new liberal majority in Congress has spent more money in less time than has any Congress in history. Today is the 20th legislative day we've been in session, and counting the $400 billion appropriations bill on the floor today, we have already spent about $1.3 trillion--all of it debt. The United States Congress is paying our mortgage with a credit card; yet we're passing a resolution to encourage America to save money. This is absurd.

We have today the new governing majority in Congress, the new President. This new direction he has taken us in is off a financial cliff. Yet we're telling Americans to save more money? Every nickel we spend today this Congress is putting on our children's credit card. We are literally, Mr. Speaker, paying America's mortgage with a credit card. It is unaffordable and unsustainable. Last night, the President laid out all of the new spending programs piled on top of this. It really does remind me of what Will Rogers said, that he didn't tell jokes; he just reported on what Congress did. This is a wonderful goal for not only individual Americans but for the United States Congress.

How about let us really have the United States Congress follow some of the guidelines in this resolution. Let us make sure that we in Congress are not spending more than we bring in, as we tell individual Americans to do. Let us make sure that we in Congress have enough of a cushion, as the resolution tells individual Americans, so that we can be ready and that we want individual Americans to be ready ``for an incident such as an unexpected crisis.''

Are we ready for an earthquake in California, America? Are we ready for another hurricane? What about a terrorist attack? What financial cushion does America have to pay for the cost of another 9/11 when this Congress has driven America deeper into debt than any Congress in the history of the United States? Never before have so few spent so much money in so little time with so little regard for the financial security of future generations.

Mr. Speaker, I think it's important to remember that Americans have always taken pride in the fact that we, current generations, have always sacrificed today so that our children would live a better life.

It is important, I think, for the Congress, for this liberal majority and for this new President to take my good friend Mr. Hinojosa's and Mrs. Biggert's resolution to heart. Let us quit spending money we don't have. Let this Congress quit living beyond its means, and let it truly secure the financial safety and security of future generations by cutting spending and cutting taxes to get this economy back on track. Walk away from these massive new expansions of entitlements. We've already spent $1.3 trillion in the first 20 days. We've almost doubled the annual budget of the United States in one stroke.

Mr. Hinojosa, Mrs. Biggert, thank you for bringing this resolution to Congress. Let us make sure that Congress saves.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise today as the lead Republican cosponsor of the America Saves Week resolution, and urge my colleagues to support it.

I'd like to thank my good friend and fellow Chair of the House Financial and Economic Literacy Caucus, Congressman Hinojosa, for sponsoring this important resolution and for all the work that he has done on financial literacy.

In addition, I'd like to join Congressman Hinojosa in honoring and thanking the late Congresswoman Stephanie Tubbs Jones, who previously sponsored the resolution in the House and was a strong advocate for financial literacy throughout her career. She was a dear friend and will be remembered always.

Mr. Speaker, in our current economic climate, the need to improve the financial literacy and the financial security of Americans is greater than ever. Now more than ever, it is clear that promoting savings is critical to ensuring that families have the economic buffer they need to weather periods of economic hardship. And efforts to stimulate the economy cannot succeed unless we equip Americans with the knowledge and resources they need to thrive in today's sophisticated market.

This resolution emphasizes the importance of savings and achieving financial security. Less than half the

population has a savings account, 1 month of savings or liquid assets, let alone the recommended 6 to 12 months of savings to have on hand in case of unforeseen events such as a medical issue or job loss. There are no rainy day things that people have today.

In conjunction with America Saves Week, this resolution encourages Americans to plan ahead for such unexpected events and grow wealth, not debt. Controlling expenses and increasing savings each month will prove to be invaluable in improving the financial security of Americans.

I strongly urge my colleagues to support this resolution and encourage savings during America Saves Week and throughout the year.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I would like to yield 4 minutes to my colleague from Texas (Mr. Culberson).

I yield the gentleman an additional 30 seconds.

Mr. Speaker, before I close, I would also like to thank Greg Davis of Mr. Hinojosa's staff and Andrea Pivarundas from my staff, as well as Nicole Austin, for their work on this resolution. I would also like to thank Dallas Salisbury of EBRI and all of the other individuals and groups promoting savings in America. Particularly, I would like to thank Chairman Hinojosa for all the work that he has done on this issue. I have enjoyed working with him. Thank you.

I yield back the balance of my time.