On the recordJuly 21, 2011
as we debate the best way to get our fiscal house in order, we must avoid, first of all, defaulting on our obligations while also working to make our economy stronger. While our debt has been rising for several decades--and there is enough blame to go around--it has been exacerbated by the economic crisis that has all too often turned workers and taxpayers into collectors of unemployment insurance, housing assistance, and health care assistance. We must not forget that the economic crisis was brought on by a financial crisis that pulled our economy into a deep recession. Some people in this Chamber--conservative politicians in Washington-- like to forget this financial crisis ever happened. But throughout the United States--in places such as Cleveland, Dayton, Chillicothe, and Zanesville--fast-talking mortgage brokers in America steered Americans into unfair loans that helped put our economy on the brink of collapse, costing millions of Americans their homes and jobs. While Wall Street has regained its footing, millions of Americans are still struggling to finds jobs, stay in their homes, and afford health care coverage. Businesses are struggling to access credit so they can hire new workers. Thankfully, 1 year ago, we passed Wall Street reform. The President signed the landmark legislation that was aimed at providing consumers with protection from abusive rates, fees, penalties in mortgages and credit cards.…
