Floor Statements

I thank the gentleman from Colorado for yielding.

Mr. Chair, I rise today in strong support of this amendment to House Resolution 5297, the Small Business Lending Fund Act of 2010. The amendment offered by my friend from Colorado, Representative Perlmutter, would do a great deal to increase the availability of loans to our Nation's small businesses. Small businesses are the engine that drives our economy.

This amendment will allow Colorado banks to amortize, or write down, commercial real estate loan losses over a period of time to ensure an adequate amount of capital for continued lending. The amendment encourages continued lending to small businesses by establishing a graduated scale with a maximum 10-year period of amortization for increased small business lending of 10 percent or more.

Enacting commonsense measures such as this will do a great deal to help small businesses, while also protecting many community banks from the volatility that currently surrounds their commercial real estate portfolio.

I have run a small business, and access to capital was always a pressing concern. I am glad that Congress is addressing this important issue.

I urge my colleagues to vote in favor of this amendment.

Madam Speaker, today our national debt is $13,046,148,615,770.79.

On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,404,722,523,042.60 so far this Congress. The debt has increased $1,939,748,639.30 since just yesterday.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $13,046,148,615,770.79.

On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,402,782,774,403.30 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $13,046,148,615,770.79.

On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,407,722,869,476.99 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $13,056,957,049,453.42.

On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,418,531,303,159.60 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $13,052,204,878,286.76.

On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $ 2,413,779,131,992.90 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Mr. Chairman, I rise in support of the defense authorization bill, but I rise in opposition to the Murphy amendment to the bill.

Congress must review the results of the Department of Defense study on Don't Ask, Don't Tell before we vote to reverse the existing policy or to keep it. The purpose of this study is to survey those in uniform on this issue. The Murphy amendment essentially says that we are not willing to listen to those who currently serve in uniform before making our decision.

It was during the first gulf war when I served as a ground combat leader with the United States Marine Corps that I found that the interdependent bond that was formed between marines on a ground combat team was essential to our effectiveness on the battlefield. My concern is that the ability for this bond to form might be greatly degraded with the interjection of sexuality, whether it be heterosexuality or homosexuality.

I think that it is absolutely essential for the study to be completed so that the Department of Defense can demonstrate how challenges, such as the one that I just raised, and concerns will be handled before Congress makes a final decision on whether to keep the current policy in regards to sexual orientation or to reject it.

Mr. Chairman, I rise in support of the amendment offered and in support of the bill as well, the defense authorization bill as well, but in opposition certainly to the Murphy amendment on the Don't Ask, Don't Tell, reversing Don't Ask, Don't Tell.

One thing that I think hasn't been raised, certainly what the amendment states is that the Congress of the United States will in fact delegate to the Department of Defense, to the Secretary of the Department of Defense and to the Chairman of the Joint Chiefs of Staff, the ability to simply do the assessment based on the survey to make that decision. But I think the reality is, unfortunately, these are not independent positions.

The President, at the end of the day, is the Commander in Chief, and the Secretary of Defense and the Chairman of the Joint Chiefs of Staff report to the Commander in Chief. So I question the ability for them to make an independent decision. This policy was put in place by the Congress of the United States, and it ought to be the Congress of the United States that ultimately repeals it based on the findings of the study for which I believe that we have the responsibility to review.

So I would hope that we would, in fact, vote down the Murphy amendment, do our job in terms of reviewing the findings of the views of the men and women of the Armed Forces of the United States that this study is, in fact, to put forward their concerns about the challenges of reversing the Don't Ask, Don't Tell policy. Then, upon our reading of that information, we will then make an informed decision going forward as to whether or not we will reverse this policy or we will continue this policy or we will, in fact, reform this policy in some other way. But it is wrong for us to delegate this to somebody else, and I believe, again, we should vote down the Murphy amendment.

Mr. Chairman, the Department of Defense is facing a near-term shortage of key ``rare earth'' materials necessary to support our defense weapon systems, and rare Earth magnets are especially critical. Over 97 percent of rare earth production is controlled by China.

Currently the United States does not have a manufacturer of neodymium-iron-boron rare Earth magnets, yet they are found in our precision guided munitions, ships, aircraft, and other critical weapons systems.

One key finding of the recent Government Accountability Office report on

rare earth materials in the defense supply chain was that the Chinese- sourced ``neo'' magnets are being included in weapons platforms delivered to the Department of Defense. America is not currently producing these magnets. The time to address this problem is now.

This amendment will help restore America's ability to produce domestic neo magnets. It requires the Department of Defense to develop a plan for establishing this domestic capability and submit it to the congressional defense committees.

I urge my colleagues to vote in favor of the Coffman-Ellsworth amendment.

Mr. Chair, the Department of Defense is facing a near-term shortage of key ``rare earth'' materials necessary to support our defense weapon systems, and rare earth magnets are especially critical. Over 97% of rare earth production is controlled by China.

Currently, the United States does not have a manufacturer of neodymium iron boron rare earth magnets, yet they are found in our precision guided munitions, ships, aircraft, and other critical weapons systems.

Due to my concern over this critical security issue, last year I requested a Government Accountability Office, GAO, study on rare earth materials in the defense supply chain as part of the National Defense Authorization Act for Fiscal Year 2010. Released on April 14, 2010, the recent GAO Report on Rare Earth Metals in the Defense Supply Chain has highlighted the near-term need for a sustainable supply chain of rare earths in the United States, both for critical American national defense and industrial applications.

One key finding of the GAO report was their determination that some U.S. defense contractors are currently utilizing ``neo'' magnets from Chinese sources and incorporating them into the weapons platforms delivered to the Department of Defense. At present, we have almost no alternatives to these Chinese components, as the United States is not currently producing these magnets. Though America is not currently producing these magnets, we have the technological know-how to do so, combined with significant deposits of rare earths.

The time to address this problem is now.

This essential amendment will help restore America's ability to produce domestic ``neo'' magnets. It requires the Department of Defense to develop a plan for establishing a domestic neodymium iron boron magnet capability, and submit it to the Congressional defense committees.

We cannot allow our nation to be dependent on a foreign source of these critical components. This amendment will help revitalize our domestic manufacturing sector and contribute directly to our national security.

I urge my colleagues to vote in favor of the Coffman-Ellsworth amendment.

Madam Speaker, today our national debt surpassed $13 trillion.

To put this in perspective, on January 6th, 2009, the start of the 111th Congress, the national debt was $10.6 trillion.

This means we have increased the debt by 18 percent in just 16 months. This debt and its interest payments we are passing to our children and all future Americans. There is simply no way that we can maintain this type of spending without destroying our Nation.

We know what happens to individuals that bury themselves in debt. We know what happens to companies and institutions that fail to maintain balanced books. And we know what happens to nations that spend this irresponsibly. We need only look overseas to the effects of such disastrous fiscal policies. But for some reason, a reason that wholly escapes me, the current administration and the majority in Congress continue to move forward with their ruinous plans.

There is no reasonable national policy that can be implemented that assumes a national debt increasing by 18 percent in just 16 months. I think the fact that the House doesn't appear to be considering a budget this year proves that the Majority knows that as well but wants to hide the magnitude of the problem from the American people. We need to rein in this spending and address our deficit, our debt, and preserve our future.

Madam Speaker, today our national debt is $12,987,796,841,336.51.

On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $ 2,350,669,663,237.20 so far this Congress. The debt has increased $1,298,568,194.50 just since yesterday

This debt and its interest payments we are passing to our children and all future Americans.

Mr. Speaker, there are many heroes from Colorado who have fought and continue to fight in the global war on terror. Today, I rise to pay tribute to one hero in particular: United States Army Specialist Grant Wichmann of Golden, Colorado.

Specialist Grant Wichmann graduated from Golden High School, where he was an athlete, avid soccer player, and a snowboarder. Although one of his friends had been killed serving in Iraq, at the age of 24 he enlisted in the United States Army. When his father tried to talk him out of enlisting, Specialist Grant Wichmann said he could not sit by while others die protecting him. This is a true indication of the kind of courage Grant Wichmann possessed.

On March 12, 2010, while assigned to combat outpost Bari Alai, Afghanistan, Specialist Grant Wichmann's unit was attacked by enemy forces using small arms fire. During the engagement, Specialist Grant Wichmann was gravely wounded and ultimately succumbed to his injuries while at Walter Reed Army Medical Center.

Specialist Grant Wichmann is a shining example of the United States Army service and sacrifice. As a former member of the United States Army and as a retired Marine Corps Reserve officer, my deepest sympathies go out to his family and all who knew him.

Madam Speaker, today our national debt is $12,987,796,841,336.51.

On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,349,371,095,042.70 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $12,987,796,841,336.51.

On January 6th, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,349,371,095,042.70 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $12,975,292,327,567.97.

On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,336,866,581,274.10 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.

Madam Speaker, today our national debt is $12,984,666,665,110.57.

On January 6, 2009, the start of the 111th Congress, the national debt was $10,638,425,746,293.80.

This means the national debt has increased by $2,346,240,918,816.77 so far this Congress.

This debt and its interest payments we are passing to our children and all future Americans.