TJ Cox: “I want quickly to agree with the gentleman from Ohio on the other side of the aisle. It is true. Ronald Reagan did make…”

“I want quickly to agree with the gentleman from Ohio on the other side of the aisle. It is true. Ronald Reagan did make sense on this issue. I worked for Ronald Reagan in the White House and I know very well that no one believed more passionately in the free enterprise system and the private sector than did Ronald Reagan. Ronald Reagan, unlike Robert Reich, understood the difference between government and free enterprise. Ronald Reagan did not have much difficulty answering the question, ``Should the Government direct private pension funds in their investments?'' The answer, of course, is no. Private pension funds represent at least $3.5 trillion in assets in America today. That is more than double the entire Federal budget. A lot of people would like to get their hands on this money for political purposes. In 1988, Jesse Jackson put it in his Presidential campaign platform. He wanted to have the Federal Government help with the investment of private pension funds by helping to steer them into politically correct investments. Mr. Chairman, at a time when we are trying to reduce the size and scope of Federal Government, the liberal big spenders are obviously beside themselves. Where are they going to get the money they need to control life in America? What better place than private pension funds? There is so much money there, after all. It is double the amount than we have got in the whole Federal budget.”