I think I am making a slightly different point, thinking longer term about the health care problem per se, and that as that $35 trillion tsunami hits us, we cannot cope with that from a fiscal point of view, so we have to reduce the cost.

It is an absolutely critical choice that our country faces.

During the course of the Bush administration, the OMB has acquired the role and reputation of being the political fixer and hit man for the administration in agency regulatory proceedings.

I applaud you for your intense focus on health care.

I fully support his efforts for preventive health care, for better pricing on prescription drugs, and for better use of medical technology and information technology.

My point is that all of the efforts to make sure that FHA is running its programs in the most effective possible manner would be directed at ensuring that there continues to be a stable, open, fair, reliable mortgage system in the United…

Opening statements, comments, or prepared statements of: Senator Reed

I would like to thank Chairman Dodd and Ranking Member Shelby for scheduling this nomination hearing so quickly, an important part of our constitutional process.

I think we had over 30 of them over the last 2 years, plus some efforts we made in this area.

I want to thank Senator Shelby and the members of the Committee, because when we passed the housing bill last summer...

I think this was a conscious decision of the Bush administration, of Secretary Preston, without the mission to FHA and then Fannie and Freddie to go out there, the mortgage market in the United States would be moribund and we would be in a…

I would like to arrange for the members of this Committee or their staffs to meet with HUD.

According to the latest US Conference of Mayors Report on Homelessness, homelessness has gotten worse nationwide.

I commend the President. I have had the privilege of working with Mr. Donovan in many capacities.

I would hope that you would be able to alert this Committee very quickly as to what you consider to be the needs, the technical needs, so that, in fact, we can avoid fraud.

I hope that as a member of the President's Economic Team, you will make stabilizing the housing market one of your chief objectives.

It is not just affordable housing, it is safe and affordable housing.

I point out in my State of Connecticut, the average two-bedroom apartment, you have got to make $21 an hour to afford it.