Political Quotes

“Mr. President, we have before us a bill where unfortunately we do not believe in markets. We are told markets will not work, so we have a terrorism risk insurance bill. That means the Federal Government is going to be the insurer of last resort. There have been some improvements over what we have put forward in the past, and I agree with those improvements if in fact we have to do this. I am not convinced we have to do it, but we are going to do it, and I understand that. I think the work of the committee, of which I am a member, has been very good. But there is one real problem with this bill, and it is about smoke and mirrors, it is about not being honest with the American people. This bill was designed so it would have no score. It was not designed to do the best we can for America should we have a tragedy, and it was not designed to create the flexibility that would be necessary if we do have a tragedy. Let me outline this for you. The way this bill is set up is that we could have a significant tragedy, God forbid, in this country from a terrorist attack, and the bill will mandate spikes in casualty and property insurance far above what will need to happen because we passed the bill to pass a CBO score.…”