Thank you, Mr. Altmire, and thank you, Mr. Murphy, for allowing me to participate in this great experience of serving in the House of Representatives here. It's truly an honor and truly a privilege for a grandson of a carpenter and a coal…
Thank you, Mr. Altmire, and thank you, Mr. Murphy, for allowing me to participate in this great experience of serving in the House of Representatives here. It's truly an honor and truly a privilege for a grandson of a carpenter and a coal miner and a steelworker, who my parents were the first in their families to go to college and I have two successful brothers. One's a chemist and a pharmacist and the other is in the military. So to serve here is truly an honor.
And, Madam Speaker, I will tell you that people are listening and they do care and they do want to learn about what we're doing here in the House of Representatives. And I said this when we were debating the American Recovery Act and the bill that was going to help put America first. We talked about how this great Nation is in a great recession and that we are finding ourselves in nearly almost double-digit unemployment in Ohio, a great State, a great manufacturing State that has suffered disproportionately to the rest of the country. We have seen jobs pack up and move overseas, families struggle. We have seen families lose entire pensions, lose their way in terms of finding health care for their family, being able to put bread on the table. And I will tell you the good people of Ohio want to work. They want a job. They want to punch a time clock. They want to carry a lunch pail because they believe that hard work and perseverance are what has built this country and made it strong and made it what it is today.
But yet we find the decisions that we have made here, and both Democrats and Republicans, in my humble opinion, share the culpability of this, but the decisions that we have made here need to empower our country, empower our workforce so that we can build roads and bridges and build the new technologies of tomorrow right here in our great State, like what is happening in Pennsylvania, like what is happening in Connecticut, in the northeast, in New Hampshire. All over this country, we have people who believe, like my grandparents did, that with a little bit of hard work and perseverance that America is the place where your hopes and dreams could be realized. And they played by the rules. They punched the time clock. They worked for 30 years at a steel mill. But yet when that company packs up and moves overseas and they give all the money back to the holders of their common stock and the like and those folks who have invested in the company, but yet the people by the sweat of their brow punched the time clock, helped build America for what it is today are left with nothing when that company packs up and moves overseas, like we have seen repeated over and over and over again in Ohio.
And it's time that our generation of Americans stands up and demands more and demands that we put America first, that we invest in our workforce, our greatest asset of people, that we invest in the things that are going to make our country and our economy stronger.
And I pledge to you, as a 30-Something here with this great, fine distinguished group of legislators, that we will work to find answers to things that plague America, that challenge America, but not answers that will divide us along a partisan divide because at the end of the day, these are not Democrat or Republican challenges, they're not conservative or liberal challenges; they're American challenges. And they deserve an answer from both sides of the aisle. But we can't have the same politics of yesterday if we are looking towards tomorrow. And that's what I hope this group speaks about. That is what I hope this group will continue to champion.
I have heard you on the floor before I was ever a congressman. I've seen both of you stand up for what is right and what is honorable for our country to move forward.
And as a matter of point for this Economic Recovery Act, I will tell you this: That I think America is obviously in a great recession, and we will be judged as Members elected to lead this Nation in two measures: by action or inaction. And I challenge my colleagues on the other side of the aisle who just want to talk about small parts of this bill that perhaps may draw a little bit of emotion but when you look at the entirety of the bill, it's about investing in our country, in our people, and what will make America and our economy stronger. And we will be judged by what we do, whether we act or whether we don't, whether we block or whether we lead.
But we didn't hear from those who are opposing this when we spent a trillion dollars in Iraq to rebuild roads and bridges over there to make sure that they have new wastewater treatment facilities, new hospitals. We didn't hear about the fact that we're spending unbelievable amounts of money to make sure that they have the access to capital over in this country. While they're running up surpluses with their oil revenue, we're running down deficits. And in 2004 former President George Bush's Secretary of Health and Human Services, Tommy Thompson, flew to Iraq with one of many billion dollar checks in hand to make sure that every man, woman, and child in Iraq had universal health care coverage. A trillion dollars, my fellow Americans, are over in Iraq making sure that Iraqis have universal health care coverage while we have families in Ohio that right now will not send their kids to the dentist because they can't afford it because they lost their job. There's a huge disconnect.
So we need to understand, are we going to block or are we going to lead? Are we going to invest in our people and in America or are we going to rebuild Iraq? This is a defining moment for our country because a trillion dollars invested in our country at the end of the day is going to make our country stronger.
I agree with the gentleman from Pittsburgh. I have heard from all of our orientations and briefings that we received from nearly 200 economists, the most conservative to the most liberal, have all said that the United States Government has to do something.
And there's only two things that we can do. We can work with the administration and the Federal Reserve to manage interest rates so people can get an auto loan, so they can go and take out a student loan or go to college, or they can take out a mortgage and buy that dream home that they have always wished for, or we can inject huge amounts of capital into the market to help stimulate the economy, to help recover our economy. This isn't going to be the be-all and end-all of economic woes.
In fact, I have told many Ohioans that this will act as a backstop against further job loss and create jobs along the way and invest in America. And that's what it should be about.
I mean, leadership is about action, not just a position. Leadership is about action. And when we take action to invest in our people, invest in our roads, rebuild our bridges, rebuild our schools, and invest in what is our greatest asset, the American people, we are going to make our country stronger.
And Senator Webb said in his book recently--I will throw him a shout- out here, you know, Senator Webb said the health of a nation, the health of a society should not be measured at its apex or at its top, but at its base, at its base. Because that's where the majority of the people work every day to make the living, live the American dream. And they are what are America is about, the hope and promise of America that was often talked about on the campaign trail last year.
You know, I just look at my family's history. The hope and promise of
America is in my family. And they have worked so hard to allow that to happen, but they couldn't have done that without a strong government that understands that measured approaches to help put our people back to work, measured approaches that will invest in key things and strategic things that are going to make our economy stronger and our people stronger are about what we should do.
And I can tell you that when we look at this American Recovery and Reinvestment Act, it's just exciting what we are talking about doing here. And the President said this yesterday in his speech to the Nation, when he said that we are going to have a visionary approach to how we approach the 21st-century economy.
Those green energy jobs, that in 3 years we are going to double our green energy production. We are going to invest in plug-in hybrids like we are researching right here in the 16th Congressional District in Ohio. We are going to invest in fuel-cell technology like we are doing right in the 16th District in Ohio. And we are going to invest in biomass research like we are doing in the 16th Congressional District.
Those are going to create jobs back home. Those are going to put people to work, move away from our dependence on foreign oil. And God only knows that we need to move away from our dependence on foreign oil. Forty percent of our Nation's demand comes from the Middle East, and we allow our country to be subject to what OPEC decides for us? No, we can inject this capital to create the jobs of tomorrow and move away from our dependence by research and technology.
This is what we have done. This is what we have done to make our country stronger. So I submit to you that leadership is about action and not just position. We have to do something to make our country stronger.
Thank you.
The gentleman from Pennsylvania is very appropriate in his remarks. And I will tell you that, you know, from a freshman's perspective, I think this bill that made it through the Congress was the eighth wonder of the world. And you out there listening may wonder why: Because there were no earmarks in the bill, and there were no earmarks to specific districts in the bill.
And I considered that the eighth wonder of the world, because Article I, section 1 of the Constitution said the Congress will make appropriations. We will appropriate the funds for the projects, for the public policy that we believe is most important to move our country forward.
We talked about financial stability a little bit, about how we need to make our economy stronger.
Well, it comes with prudent reforms that we need to make within Wall
Street, within the stock market, because it doesn't make any sense at all from this economics major at St. Bonaventure University, the fact that we are allowing speculators to drive our economy.
The laws of supply and demand have seemingly been thrown out the window, and we are allowing people to bet on the price of fuel going up, people to bet on the price of commodities going up, like grain and cereals and those sorts of things, bet on people foreclosing, bet on people failing to pay their mortgage. To me, that sounds like a recipe for disaster, and we need some stability in our financial markets, and we need an administration like President Obama is going to enact to make sure that the Securities and Exchange Commission and those regulatory agencies for our financial markets are going to do the jobs that we empowered them to do and to bring to justice those people who are manipulating the economy.
I can tell you that many people are struggling back home. In fact, people are working so hard. In fact, a recent study that was done late last year found that people of average means, average working-class families, are working 18 percent harder, yet their wages have started to decline and stagnate and go down while their tax burden has gone up.
Now, the top 1 percent of the country has seen their wages increase and their tax burdens reduced because of the last administration's policy that will reward the wealthiest of our country. Those folks who have the means to pay and help determine public policy for our country to invest in the things that are going to make our country stronger, we are giving them the breaks when we should be giving the breaks to the middle-class families. Remember what Senator Webb said. The health of a society is measured not at its top, at its apex, but at its base, because it is the base that invests the most into this country.
I tell you, I was so proud to hear President Obama say and to be strong as our Nation's leader and perhaps the leader of the free world suggest that we will make it through this crisis. We will make it through this crisis. America has seen tough times before, and he said that the weight of this crisis will not determine the destiny of our Nation. And he was so right, that we have the wherewithal to get through this.
To my friends on the other side who are going to prepare their charts and graphs and talk about exploding Federal deficits, we need to understand that President Obama inherited this. He inherited $1 trillion that was spent on Medicare part D, but yet families and seniors back home still can't get their prescription drugs and pharmacies are struggling.
We spent $1 trillion in Iraq to rebuild roads and bridges over there. President Bush thought we needed to make that investment, to make sure that every man, woman and child in Iraq had universal health care coverage. We gave $1 trillion in tax cuts to the wealthiest Americans.
Well, it is time that we focus on the middle class, not on the apex, but on the base of our Nation, and we do that by investing in the people that have made this country stronger and will make this country stronger.
One last point I want to make here before we wrap this up this evening. We talk about the budget deficit. This country since its beginnings has carried some sort of debt, from the Revolutionary War on up through the present time we find ourselves.
In 1946, in 1946, after this country made it through the Great Depression and made it through World War II, the government was spending more and borrowing more than the economy could produce; spending more and borrowing more than the economy could produce. Right now we are at 38 percent of what the economy can produce. After this investment in America and we are on the road to recovery, we will be about 50 percent. We still have to pay this off, that is acknowledged, but we are in a great recession, and we will have the political will and the economic wherewithal to pay down this debt and get it closer to the margins that President Reagan saw back in the eighties, right around 28 to 30 percent. So we need to make those decisions. President Obama talked about that resolve. We will make it through this time.