Political Quotes

“Madam Speaker, I heard the gentleman from Texas say--and I appreciate his intensity--that he believes it is a flawed insurance policy that is government-sponsored. If that is the case, then it should be delayed, and he is willing to shut down the government to do it. I want to talk about something that is a flawed government insurance plan that is scientifically proven to be wrong--no debate about it--and that should be delayed, too. I have a family in my hometown of Bourne, Massachusetts, who just bought a house. They bought that house for $240,000. They had a $400 bill--the predecessors did--for flood insurance. They were shocked, and I was shocked: that bill has now increased to $44,000 a year. If you take away the value of their home, in about 2 or 3 years, with the payments for flood insurance at that rate, it will be the whole value of their home. I want to also tell you that it is a government taking, in effect, I think, to have this policy in effect because, if they go to sell that home and if someone has to get a mortgage to buy it, as most people have to do, the value of that home is going to be diminished. Someone is probably going to have to pay cash--maybe pay $100,000 for a $240,000 home. That is government reaching in, taking the value of their nest egg--of all of their life savings of the place they live-- away from them. Now, I said it is scientifically proven. I want to show you. I went to the University of Massachusetts at Dartmouth.…”