Floor Statements

Madam Speaker, I rise to recognize the firefighters of Fairfax County for their efforts in fighting muscular dystrophy in Northern Virginia and the National Capital Region. The International Association of Firefighters local 2068, in coordination with the Fairfax County Fire and Rescue Department and the Fairfax County Department of Public Safety Communications, collected more than $561,000 at their annual ``Fill the Boot'' campaign over Labor Day weekend, more than any other jurisdiction in the nation.

While they are committed to keeping the residents of Northern Virginia safe, the firefighters and paramedics of Fairfax County are also dedicated to improving the lives of those in their community through education and charitable efforts such as the ``Fill the Boot'' campaign.

Thanks to the generosity and support of the community, this year's contributions to the Muscular Dystrophy Association will help those in the Washington, DC area affected by the disease. Resources such as the outpatient clinics at Children's National Medical Center and Georgetown University Hospital will benefit, as will the Muscular Dystrophy Association camp in Leonardtown, MD. The firefighters' contribution far exceeded their goal of $475,000, adding to the previous 56 years of success in which firefighters nationwide have raised more than $425 million for the Muscular Dystrophy Association.

Madam Speaker, I ask my colleagues to join me in commending the firefighters of Fairfax County for their efforts to fight muscular dystrophy. They risk their lives every day to ensure the well being and safety of our communities. These heroes often go unrecognized for their dedication and sacrifices. On behalf of the residents of the 11th District of Virginia, I am honored to thank these brave men and women for their contributions to our communities.

Madam Speaker, of course what we've just heard is nonsense. If my friends on the other side of the aisle had had their way in the worst economic recession in 80 years, which was on their watch, they would have done nothing.

As a matter of fact, a Republican economist, Mark Zandi, said, but for the Recovery and Reinvestment Act, we would have gone into a great depression.

And that's just the way it is.

Madam Speaker, I move to suspend the rules and agree to the resolution (H. Res. 1610) expressing the sense of the House of Representatives regarding the terrorist attacks launching against the United States on September 11, 2001.

Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the resolution.

Madam Speaker, I rise in strong support of this resolution, and I yield myself such time as I may consume.

Madam Speaker, this bipartisan resolution pays tribute to the lives lost on September 11, 2001, and recognizes the anniversary as not only a time of solemn commemoration, but also a demonstration of America's great resolve in combating terrorism.

Memorials like those at the Pentagon in northern Virginia and the Grove Garden in Fairfax County have been constructed throughout the region and the Nation to commemorate the events of 9/11. It is one of the many ways in which we continue to pay tribute to the people who perished on that fateful day.

This House resolution extends our enduring and deepest condolences to the friends, families, and loved ones of the innocent victims of the terrorist attacks and recognizes the heroism of U.S. service men and women who defend our country today. It honors the Nation's first responders and others whose valiant efforts did credit to their country on that horrible day and who continue to help keep us safe. It expresses gratitude to the leaders and citizens of other countries who assisted, supported and stood by the United States in the aftermath of those attacks.

Clearly, the threat of terrorism is still very real, but one of the lasting legacies of 9/11 has been the notion of being prepared for any type of emergency, whether it is a widespread event like a terrorist attack, a natural disaster, an epidemic, or even an individualized event, like a fire, car crash or power outage.

The events of 9/11 tested our abilities beyond our imagination, and a number of trying experiences since then have further honed our skills. In America's modern and fragmented society, collective memories are few, but each of us remembers where we were precisely on that fateful day when we heard the news.

This is a time when we must transcend partisan politics and stand together as one Nation to recall a moment when terrorists targeted the very symbols of America's strength.

Our values and our very foundation were under attack, and yet we persevered. And we will carry on the fight against extremists who seek to do us harm.

In this battle, the global realities of the 21st century require that we use not only our military, but all of the tools available to us-- economic, financial, diplomatic, and cultural resources--to promote a better alternative to extremism and to protect our national interests and our national security.

Madam Speaker, none of us will forget what happened 9 years ago. We will always remember the victims of 9/11 and the loved ones who survived them.

We will always honor the first responders who gave their lives that day, and those in uniform at home and abroad who risk their lives even now and every day to defend America. We will continue to promote our founding principles of freedom and equality and ensure that the lives lost in pursuit of our ideals are never forgotten.

Madam Speaker, I reserve the balance of my time.

Madam Speaker, I am pleased to yield 1 minute to the distinguished majority leader of the House of Representatives.

(Mr. HOYER asked and was given permission to revise and extend his remarks.)

Madam Speaker, like many Members in this House, in the last week I attended numerous memorials, remembrances of the tragedy of 9/11. It's particularly poignant to northern Virginia because the other attack that day was at the Pentagon, which is in Arlington, Virginia.

At that time I was a local supervisor on the board of supervisors in Fairfax County, and my office was co-located at Fire Station 30 in Merrifield. And I remember firefighters in my station, men and women, backing up the Arlington Fire Department in trying to put out the fire and save lives at the Pentagon that day in the second-worst terrorist attack in American history, only sadly eclipsed by the loss of life at the World Trade Center itself. And I heard the stories and I saw the heroism firsthand, and it is something I certainly will never forget.

Let me just say to the friends and families of those who were lost that day and to those who would wish us harm: America will never forget, and America will never yield.

I yield back the balance of my time, Madam Speaker.

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

Madam Speaker, I rise today to recognize the 65th Anniversary of Korean Independence Day, and to join in the celebration of Gwang bok jeol.

Gwang bok jeol, literally translated as ``Restoration of Light Day'' commemorates the 1945 liberation of Korea from Japanese rule. This holiday is the most important public holiday in South Korea.

I am privileged to represent the 11th Congressional District of Virginia in the United States House of Representatives. This district is blessed by its diversity; our community is more than 40% minority and one in four residents is foreign born with Korean Americans comprising the largest single ethnic group. This diversity and vibrancy has enriched the entire region and contributed greatly to our robust economy, excellent schools, strong family values and achievement of common goals.

I would like to commend the Korean American Association of the Washington Metropolitan Area, the Korean American Association of Northern Virginia and the Korean American Association of Maryland for their work on behalf of the Korean American community of the Washington, D.C. region. These organizations exemplify community commitment and dedication. They strive to maintain and protect the rich Korean culture while aiding in the transition of newer citizens to ensure full participation in American society.

Madam Speaker, I ask that my colleagues join me in recognizing the 65th Anniversary of Korean Independence day. By joining in the celebration of Gwang bok jeol, we pay tribute the shared histories and mutual respect of our two nations.

Madam Speaker, I rise to recognize the 20th Anniversary of the Manassas African American Heritage Festival.

The first Heritage Festival was organized by a group of community leaders who sought to host an event that would feature the unique contributions and diversity of the African American community. Ethnic heritage is often a source of strength and inspiration for individuals seeking their piece of the American dream, and part of the American experience is proudly sharing that heritage with others. The Manassas African American Heritage Festival spotlights, celebrates, and commemorates the roots and rich history of the African American community.

During the past two decades, the Festival has supported organizations and causes that promote African American culture. Colleges, churches, nonprofit organizations, and civic groups are among the attendees. The Festival has awarded ``Community Awards for Excellence,'' purchased and distributed school supplies, encouraged health screenings, and made education a community priority.

Madam Speaker, I ask that my colleagues join me in commemorating the 20th Anniversary of the Manassas African American Heritage Festival. It is important that we preserve the values and traditions of African American culture and appreciate the indelible mark it has left on our Nation's history.

Madam Speaker, I rise today to recognize the 50th Anniversary of the Association of Civilian Technicians, which is headquartered in my district in Lake Ridge, Va.

In 1960, Vincent J. Paterno and twelve fellow New York technicians banded together to establish the Association of Civilian Technicians. Their stated mission was to represent the interests of our country's National Guard Technicians. Today, ACT represents the 48,000 employees of the Air and Army National Guard who are classified as Title 32 Civilian Technicians. A Title 32 Civilian Technician's duties and responsibilities are to maintain the working order of the aircraft, vehicles, tanks, helicopters and supporting equipment needed by the National Guard to carry out its mission. ACT members serve as mechanics, administrative personnel and technical support positions. They enable active duty personnel to keep our nation safe from attack and ensure that our military is always at the ready.

Through vigorous advocacy efforts, ACT has helped secure a number of rights and benefits for civilian technicians. In 1968, President Lyndon Johnson signed into law ``The National Guard Technician Act.'' The legislation established the Technician Program and provided National Guard Technicians with fair and just compensation, employment benefits and access to a retirement system that is equitable to other federal employees. ACT honors the service of our nation's civilian technicians by fighting to deliver the care and consideration they deserve.

Madam Speaker, I ask that my colleagues join me in celebrating the 50th Anniversary of the Association of Civilian Technicians. For half of a century, ACT has represented the best interests and welfare of America's National Guard Technicians and their families. I

would like to extend my personal appreciation to ACT members for their service and contributions to our national security.

Madam Speaker, I rise to recognize the 40th Anniversary of the Lake Ridge Occoquan Coles Civic Association, LOCCA.

The builders of the Lake Ridge Planned Community began development in the mid 1960s. The developers of Lake Ridge envisioned a community where people could live, work, shop and play. However, early residents desired a way to shape the vision for their community. They recognized a need for an organization that was capable of influencing planning and development decisions in Lake Ridge.

On July 6, 1970, the residents established the Lake Ridge Communities Civic Association, LRCCA, as a non-political, nonpartisan organization that gave citizens an organized community voice. The LRCCA hosted bake sales, dances and other fund-raising activities to support local civic projects and to foster a newfound sense of community in Lake Ridge.

In 1978, the organization matured into the Lake Ridge Occoquan Civic Association, LOCA, in response to growing concerns over unchecked growth and development in Prince William County. The membership created the Planning, Environment, Land-Use and Transportation Committee, PELT, to evaluate new development in the area. The organization encouraged quality development with appropriate infrastructure investments, compatible architecture, signage and landscaping and promoted the use of green community designs complete with sidewalks and trails. In 1997, the membership rewrote the bylaws to refocus the group and formally include the Coles Magisterial District within its jurisdiction, creating the Lake Ridge Occoquan Coles Civic Association, LOCCA.

The influence of this community organization on quality development standards in Prince William County cannot be understated. For four decades, dedicated members have sacrificed their time and contributed their considerable talents to the responsible stewardship of their community. Their work has not gone unnoticed. This was the first civic association to be awarded the Virginia Green Award, and it was recognized as one of the most influential civic associations in the Commonwealth of Virginia when it was honored with the Virginia Citizen's Planning Association Award.

Madam Speaker, I ask that my colleagues join me in commending the membership of the Lake Ridge Occoquan Coles Civic Association for the tireless advocacy efforts and congratulating them on their 40th Anniversary. I extend my personal appreciation to the past and current members of LOCCA for improving and safeguarding the quality of life of countless Prince William County residents.

Madam Speaker, I rise to thank the NOVA- Annandale Symphony Orchestra for providing our community with outstanding performances for the past 16 years and to recognize its 2010 Award Recipients.

In 1994, Dr. Claiborne Richardson of the Reunion Music Society (RMS) and Dr. Gladys Watkins of the Northern Virginia Community College (NOVA), Annandale Campus, formed a partnership between to create the NOVA-Annandale Symphony Orchestra. The orchestra combines the talents of local professional and amateur musicians and college students to develop their skills by performing the music of different cultures and heritages.

On April 16, 2010, during the NOVA-Annandale Symphony Orchestra's ``Colors of Spring'' concert the RMS announced award recipients in two special categories: The Richardson-Watkins Founders Awards, which recognize persons or businesses from the community that have made significant contributions to the success of the RMS' programs, and The Orchestra/Players Awards, for which musicians are recognized by their peers for making significant contributions to the success and development of the symphony orchestra over several years.

The 2010 recipients of The Richardson-Watkins Founders Awards are:

Campbell & Ferrara Nurseries in Annandale, Va., and its Garden Manager, Karen Stay, for many years of providing complimentary flower arrangements displayed in the lobby of the NOVA Theater during the orchestra's concerts and for helping to promote concerts at its store. Ms. Stay always makes sure the floral arrangements are delivered on time.

Mr. Steven Metzger, owner of ``Expert Software Design,'' who has hosted the RMS' website for many years, making timely changes, and absorbing all expenses. His diligence in maintaining the website is particularly noteworthy since he commutes between his home in Fairfax, Va., and his full-time job in Frederick, Md. Mr. Metzger has been instrumental in converting the website (www.reunionmusic.org) to a new, exciting design.

Dr. Barbara Saperstone, Provost of NOVA's Annandale Campus, who has supported RMS programs over a decade, including needed resources for the orchestra such as acoustical enhancements in the college theater. Through her leadership the college has provided at no cost to the orchestra or the RMS use of rehearsal rooms and the theater, purchase of music scores and printing of ``playbills'' for concerts.

The recipients of The Orchestra/Players Awards are:

Mrs. Nancy McKinless, who has served for many years as the orchestra's librarian and plays the violin at concerts. Mrs. McKinless ensures that the musicians have appropriate music scores for rehearsals and concerts. This involves dealing with music libraries for renting or purchasing music.

Mr. Rolland (``Bucky'') Roup, who plays the violin. Mr. Roup devotes many hours to carefully coordinate logistical matters with the orchestra's music director and with the NOVA theater technical staff, and he has trained a cadre of other orchestra members to assist in stage management.

Madam Speaker, I ask my colleagues to join me in congratulating the NOVA-Annandale Symphony Orchestra for continuing to offer outstanding concerts in collaboration with the RMS and NOVA, and I also ask that we commend the 2010 recipients of The Richardson-Watkins Founders Awards and of The Orchestra/Players Choice Awards.

Madam Speaker, I rise to address an issue of critical concern. As my colleagues know, Sept. 5-12, 2010, has been designated as Suicide Prevention Week, and I am honored to do my part in raising the awareness of this threat so that we can better protect those most vulnerable in every community.

Suicide is the 3rd leading cause of death among teens and young adults. Every 2 hours, a person under the age of 25 commits suicide, resulting in estimated 12 youth suicides every day or more than 4,000 unnecessary deaths each year.

More than 78,000 veterans of current military operations in Iraq and Afghanistan have sought help for mental health related issues. I, along with my colleagues, have taken steps to provide the needed support to our warriors, but we must do more. More than 6,200 veterans commit suicide each year; our best and bravest feel that they have no options or way out of their despair.

Among our senior citizen population, the suicide rate is the highest. Although those over the age of 65 account for just 12.5 percent of the population, they account for nearly 16 percent of all suicides.

There is also an ethnic component to suicide rates. While CDC reports that the rate of white, non-Hispanic suicide attempts is 7.7 percent, the black non-Hispanic suicide attempt rate is nearly 10 percent and the Latino suicide attempt rate is an astonishing 14 percent.

We must do everything in our power to reduce this threat and to provide resources to those who need our assistance.

I would like to recognize and thank those people and organizations who are dedicated to reducing suicide rates and preserving life. One such organization located in the 11th Congressional District of Virginia is CrisisLink. CrisisLink is dedicated to reducing the frequency of suicide attempts and death and to providing resources that can ease the pain for the survivors affected by the suicide of a loved one. Through educational programs, research projects, intervention services and bereavement services, CrisisLink is at the forefront of providing needed support to those who need it the most.

For 40 years, CrisisLink has provided needed services to the community; answering more than half a million crisis calls, responding to more than 25,000 potential suicides, providing more than a quarter million referrals to community resources, promoting mental wellness, educating the community about depression and other mental illnesses, and reducing the stigma attached to mental illness.

Madam Speaker, I ask that my colleagues join me in proclaiming September 5-12, 2010, as Suicide Prevention Week, and I ask that we commend CrisisLink for its unwavering commitment to providing assistance to so many in their time of need.

Madam Speaker, I rise today to recognize the 63rd Anniversary of Pakistan independence. The 11th Congressional District of Virginia has benefited from being home to a diverse range of ethnic and religious peoples from all over the world. Northern Virginia as a whole is strengthened by this diversity. One community I wish to recognize today is the Pakistani community, which is an integral part of the makeup of Northern Virginia.

I am honored to represent a district with such diversity and prosperity. The Pakistani community has been vital to that success, contributing expertise and hard work in some of our fastest growing industries. The work ethic displayed is consistent with so many immigrant groups who have come before and who have contributed to building the United States of America into a great nation. By celebrating our respective traditions and heritage, we reaffirm our identity as Americans.

Pakistan Independence Day celebrates the end of British rule in the region and the founding of Pakistan as a sovereign nation by Muhammad Ali Jinnah. August 14, 1947, is officially recognized as the day that Pakistan won independence, and it is celebrated with lights, fireworks, and displays of national pride. The Pakistan Festival USA was originally held at the Lincoln Memorial in 1987, and has grown into a must attend event for the Pakistani community. Pakistan Festival USA has since moved to Lorton, VA, in the heart of the 11th Congressional District, in order to meet the needs of the growing attendance and demand of the Washington area Pakistani community. Today, this is one of the largest celebrations in the country celebrating the independence of Pakistan and recognizing the contributions of the Pakistani-American community.

Madam Speaker, I ask that my colleagues join me in celebrating the 63rd Anniversary of Pakistan's Independence, and in recognizing the many contributions of Pakistani-Americans to our country and wishing them Yaum-e-Azad Mubarak (Happy Independence Day).

Madam Speaker, according to independent economists, the action of this Congress pulled the economy back from the brink of falling into another Great Depression.

I hope my colleagues have had a chance to review the recently released study by former Federal Reserve Vice Chairman Alan Blinder and Mark Zandi, Moody's Analytics chief economist and former economic adviser to John McCain's 2008 presidential campaign.

We have heard some from the other side of the aisle demagogue on the value of the Recovery Act and other actions we took to stabilize this economy. Republicans loudly claim these programs were failures. But what do the actual economists say? From the study, I quote. ``There is little doubt that, in total, the policy response was highly effective.''

Madam Speaker, after careful analysis, the study's bipartisan authors conclude that the Nation's gross domestic product would have been 11.5 percent lower than it is today without government intervention. They conclude that an additional 8.5 million working Americans would have lost their jobs.

When this Congress took office in January of 2009, we were facing an economy in freefall with the second Great Depression in clear sight. We were in the midst of a deepening recession, the worst in 80 years. Increasing monthly job losses had peaked in January of that year at 741,000; housing prices were mired in 22 straight months of decline; foreclosures dramatically increased. The economy's contraction was worsening as gross domestic products shrank at an increasing rate each quarter. Bank failures accelerated, threatening family savings. All combined, Americans lost $17.5 trillion in net worth because of the Bush recession. And in the midst of this economic maelstrom, in the face of the united opposition from the minority, we took action, immediate action, and passed the Recovery Act to stabilize the economy, protect teachers, firefighters, police officers, boosted the private sector payrolls, invested in America, and spurred growth.

According to the experts from both sides of the aisle, it worked. Again quoting from the study, ``The effects of the fiscal stimulus alone appear substantial.'' Madam Speaker, they found that the Recovery Act raised GDP by 3.4 percent, reduced the unemployment rate by 1.5 percent below where it otherwise would have been, and, most importantly, added or protected 2.7 million American jobs.

The proof is in more than just the study. Look at the GDP. Before we passed the Recovery Act, GDP was declining for the third straight quarter, including a 2.7 percent drop in the third quarter of 2008, a 5.4 percent drop in the fourth quarter, and an astonishing 6.4 percent decline in the first quarter of 2009 when we came into office. The Recovery Act slammed the brakes on that freefall. The very next quarter, GDP posted only a 0.7 percent decline, quickly followed by four straight quarters of GDP growth.

The Recovery Act also stemmed the ever increasing monthly job losses. It is no coincidence that the job losses peaked just before we acted and then immediately began to drop.

Currently, we are in our seventh straight month of private sector job growth, with 600,000 net private sector jobs created this year alone. The manufacturing sector continues to expand in fact to its highest levels. American automobile sales, initially spurred by the successful Cash for Clunkers program, continue to improve. The stock market, which plummeted throughout

2008 and hit rock bottom in the first quarter of 2009, has rebounded since, increasing more than 60 percent. In fact, we have recovered $6 trillion of the $17.5 trillion lost by American families.

Madam Speaker, the Blinder and Zandi study illustrates our intervention and investments through the Recovery and Reinvestment Act saved the U.S. economy from the second Great Depression. But, as the recent study demonstrated, we averted the worst outcome, but we still have work to do.

Make no mistake. Despite the fragile economy, our economy is growing again, and that growth is the direct result of the actions of this Congress to save American taxpayers and to save this economy.

Madam Speaker, as somebody who spent 14 years in local government before coming here to the United States Congress, I know how essential it is that our State and local governments get some relief. The cumulative deficit they are going to experience over the next 2 years is $350 billion, which will have a profoundly contractionary effect on our economy.

This bill, which is fully paid for and actually reduces the deficit by $1.4 billion over the next 10 years, is essential to making sure State and local workers stay serving the public they serve. And I think that the time has come to provide that assistance, and I look forward to supporting H.R. 1586 as a proud former local government official.

Madam Speaker, I rise today to recognize James R. Leaman, retiring President of the Virginia AFL-CIO, for his leadership and service to union members and working families across the Commonwealth.

Throughout his distinguished career, Jim Leaman has strived to protect the health, safety, and quality of life for all of Virginia's workers. Whether they were white collar or blue collar, industrial or agricultural, public sector or private sector workers, Jim Leaman fought for them all.

Jim Leaman dedicated his life to ensuring Virginia's working men and women received a fair wage, had access to affordable health care, and worked in a safe environment.

He carried the banner of Virginia's working families to the halls of Virginia's General Assembly, the U.S. Congress, to the counties, cities and towns of the Commonwealth, and within Virginia's Democratic Party.

Throughout his many years of service to the AFL-CIO and Virginia's workers, Jim Leaman never wavered from his principles. He was, and is, a steadfast advocate for fairness, equality, and justice for all Virginians.

Jim Leaman was a true public policy advocate. Along with his work to protect the interests of Virginia workers, he also pushed broader issues that affected the lives of all Virginian's, such as opposition to the usurious rates charged by payday lenders to those who could least afford such costs.

As a result of his efforts and leadership on non-partisan voter registration campaigns, thousands of Virginians became voters and participated in our democratic process.

Prior to his four-year tenure as President, Jim Leaman served as Secretary-Treasurer of the Virginia AFL-CIO from 1990 to his election as President in 2006. He was a proud 35-year member of the Communications Workers of America and is currently a member of the Iron Workers. Jim has advised several Virginia governors and other elected leaders and has served on boards and commissions dealing with labor and employment issues in the Commonwealth.

Madam Speaker, I ask my colleagues to join me in acknowledging the accomplishments and distinguished career of my friend and one of Virginia's great labor leaders, Jim Leaman. I thank him for his service and wish him the best in all of his future endeavors.

Mr. Chairman, I have an amendment at the desk.

I want to thank Chairman Rahall and Chairman Oberstar, in particular, for their hard work on this bill and for their collaboration on this amendment.

I am joined by Congressman Holt and Congressman Welch, who co- introduced this amendment to ensure that oil companies cannot shift oil cleanup costs onto taxpayers by allowing subsidiary companies to go bankrupt.

Under current law, if an oil subsidiary is responsible for a spill, it can declare bankruptcy and not sell its assets, in which case the parent company would not inherit cleanup liabilities. A profit- maximizing parent company would allow a subsidiary to go bankrupt and not sell liabilities if the value of cleanup and liability costs exceed the value of the subsidiary's assets. This is a realistic scenario given the high cost of the cleanup of oil spills. Even a well capitalized company worth several billions could be responsible for an oil spill costing tens of billions. The Exxon Valdez spill cost more than $2 billion to clean up, and that was just 10.9 million gallons of oil. The Deepwater Horizon spill already has cost $3 billion, with total cleanup cost in the tens of billions at the very least. Through this act, oil companies could be responsible for much greater costs.

The fishing industry in the gulf is worth $5.5 billion annually. Losing 50 percent of western Florida's tourism would cost that State $10 billion. If Congress eliminates the private liability cap under OPA, then an oil company responsible for a spill could be liable for tens of billions to reimburse property owners and workers for lost property and wages.

Given the extraordinarily high cleanup and private liability costs of oil spills, we must close this loophole. Our amendment would ensure that BP and other oil companies are not able to escape their cleanup responsibilities. Without passage of this amendment, BP and other oil companies could avoid paying for cleanup costs entirely.

I urge my colleagues to support the amendment.

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

Mr. Chairman, I yield 1 minute to my colleague from New Jersey (Mr. Holt).

I yield 1 minute to my colleague from the great State of Maryland (Mr. Cummings).

Mr. Chairman, I want to thank my colleagues.

I also want to thank the following staff for their assistance on this amendment: Dave Heymsfeld, Stacie Soumbeniotis, Ryan Seiger, Navis Bermudez, Susan Jensen, George Slover, and David Lachman.

We want to ensure that this amendment only affects the relationship of parent and subsidiary companies.

With that, Mr. Chairman, I yield back the balance of my time.

Mr. Speaker, there has been considerable finger pointing, misdirected, I might add, by our colleagues on the other side of the aisle, with respect to who is responsible for the mountain of debt weighing on our Nation. I rise to set the record straight and highlight just some of the actions we have taken to reduce the deficit and restore fiscal responsibility.

When this Congress took office in January of 2009, we inherited the worst recession since the Great Depression and a $1.2 trillion annual deficit with red ink forecast far into the future. As my colleagues will recall, the general concern 10 years ago in the financial sector was whether the United States bond market could survive in the event that the entire national debt was retired as projected at the time. Starting in fiscal year 1998, we had three straight budget surpluses, totaling more than $559 billion, with a projected $5.6 trillion surplus well into the decade.

Unfortunately, we now know what happened next. The Bush administration and Republican-controlled Congresses cast aside fiscal discipline and made a number of reckless, long-term budget decisions that turned record surpluses into record deficits. They initiated two wars, enacted two long-term tax cuts, and a new, permanent entitlement program, none of which was paid for, and all of which added to the debt. These actions alone added $6.6 trillion to the national debt and left the Federal budget fundamentally unbalanced for the foreseeable future. Tragically, but predictably, the $5.6 trillion in projected surpluses became more than $6 trillion in national debt.

But, Mr. Speaker, while we inherited these budget deficits, we also inherited the responsibility to do something about them. The American people don't want to see more of the same bankrupt fiscal policies of the past. They want to return to fiscal responsibility, and this Congress has taken a number of steps to do just that.

Earlier in this Congress, we adopted one of the most significant deficit reduction tools, reinstituting statutory PAYGO, or pay-as-you- go legislation. PAYGO is a simple concept: If you've got an idea, you've got to pay for it. And we know it works.

In 1990, in the face of then record deficits, Congress enacted statutory PAYGO, which helped lead to three straight years of surpluses. Unfortunately, in 2002, President Bush and a Republican- controlled Congress failed to reenact PAYGO. The results were disastrous and predictable--an immediate return to record deficits. Our restoration of PAYGO this year is a critical step in controlling spending and reducing deficits.

Mr. Speaker, the House of Representatives has made deficit reduction a priority with the passage of a number of important pieces of legislation. One of the largest drivers of the deficit has been the rising cost of health insurance premiums and health care costs. According to the Congressional Budget Office, the health insurance reform law will finally bend the cost curve and reduce the deficit by $124 billion over the next 10 years, and $1.2 trillion in the 10 years thereafter.

Through passage of the Student Aid and Responsibility Act, we reformed the college loan program, producing new efficiencies, expanding opportunity for millions of young people, and we reduced the deficit by $19 billion.

We responded swiftly to a Government Accountability Office report highlighting billions of dollars of cost overruns and wasteful Pentagon spending for weapons and services. The Weapons System Acquisition Reform Act and the IMPROVE Acquisition Act passed by this Congress will crack down on more than $300 billion in wasteful spending, further reducing the deficit, and will ensure that our defense dollars are serving the actual needs of our men and women in uniform.

The American Clean Energy and Security Act which passed this body set new standards for energy efficiency and use of renewable energy, which would reduce the deficit by $9 billion over the next decade.

The recently passed Wall Street Reform and Consumer Protection Act will

enforce greater accountability of risky bank practices and reduce the deficit by $3.2 billion over the next 10 years.

Beyond those actions, President Obama's proposed 3-year spending freeze for non-security discretionary spending will reduce the deficit by another $250 billion over the next decade. The recently adopted House budget for fiscal year 2011 reduces the President's request by billions of dollars. I support the President's bipartisan National Commission on Fiscal Responsibility and Reform and its efforts to identify even further opportunities for additional deficit reduction.

Mr. Speaker, despite inheriting record deficits, we have taken a number of steps that will restore fiscal responsibility and reduce the deficit. Already, our actions, coupled with the improving economy, have resulted in more than $250 billion in reduction of the debt in the current year alone.

The United States went almost 30 years between budget surpluses from 1969 to 1998. The actions of this Congress have set us on the path to ensure it doesn't take another generation.