Ann Wagner: “I first want to thank Chairman Hensarling and Chairman Garrett for their leadership in bringing this bill to the floor…”

“I first want to thank Chairman Hensarling and Chairman Garrett for their leadership in bringing this bill to the floor today. I also want to thank my Financial Services Committee colleagues on both sides of the aisle for their work and support of this bill. Mr. Speaker, in recent weeks, we have been caught up in a fierce debate over the imperiled balance sheet of our Nation. It goes without saying that for a Nation that is $17 trillion in debt, getting our Federal balance sheet under control remains of extreme importance for future generations of Americans. We must also keep in mind these days that it is not just the Federal balance sheet that is upside down. Indeed, the household balance sheet of American families is under some of the greatest stress we have seen in decades. Median household income has declined by $2,400 since the previous recession ended in June of 2009. Millions of Americans remain out of work, and an alarming number of our fellow citizens have flat- out given up on their search to find a job. Recent studies have shown that an alarming percentage of Americans do not have adequate savings set aside for their retirement. The fact is that many families in Missouri and all across the country are struggling just to make it to the 15th and the 30th of every month, let alone finding the ability to put something away for retirement or for a rainy day.…”