Chris Murphy: “To go deeper than that, let's explain exactly what the deal is. Let's delve one layer deeper into this, explain exactly…”

“To go deeper than that, let's explain exactly what the deal is. Let's delve one layer deeper into this, explain exactly what the deal is for banks here. We already guarantee all of these loans for the banks. That's a great deal. You tell me that I'm going to lend money to somebody and if they don't pay it back, somebody else is going to pay me back? Well, guess what, I'll probably make that loan. But then what we did on top of it, on top of it was we gave them a cut of the loan, too. You know what we figured out? They're still going to make the loans even if you don't give them a cut of the loan. They're guaranteed loans. They're essentially guaranteed loans. That's just commonsense. And so as Mr. Ryan said, this becomes sort of a socialist welfare program for just a different set of people, people that are doing pretty well already. So, to me, this is just commonsense. So to a lot of people it's commonsense. When we go back in our districts, we're hearing a lot of people talking about Iraq. People are behind the Democrats' plan to reorder our priorities there and start going after the real bad guys, but there are a lot of people struggling just with getting by every day and every week, and there are a lot of young parents who are raising young kids and looking at college costs, thinking to themselves how on earth am I going to do this.”