Political Quotes

“Mr. Chairman, my amendment would appropriate $10 million to fund an amendment passed unanimously in the 2015 NDAA that allocates additional financial literacy training programs for incoming and transitioning servicemembers. This $10 million will be spread equally among the service's operation and maintenance accounts. This increased financial literacy training would be funded by allocating $10 million from the Navy's $14 billion aircraft procurement account, which includes nearly $1 billion in funding over the Navy's request to purchase 12 EA-18G Growler aircraft. The Navy actually requested none of these 12 aircraft. The problem we have is that far too often servicemembers have inadequate training or experience. We are often talking about young people who have yet to really fully have their feet underneath them. When a servicemember has financial difficulty, often they are preyed upon by unscrupulous lenders, payday lenders, often. {time} 1645 In fact, in some cases--this was reported widely recently--offering and executing loans at up to 400 percent interest rates, often targeting these young servicemembers. While this has an effect clearly on the financial condition of servicemembers, it also can have an effect on readiness, in that many servicemembers require a security clearance to perform their duties, and financial difficulties and the loss of a clearance can have an enormous impact on readiness. All that being said, I will be withdrawing my amendment.…”