Tim Scott

Thank you, Mr. Chairman. Commissioner, Mr. George, thank you for being here this morning.

I just don't understand how it is that we refuse to take a look at the 75,000 claims in your backlog.

One of the reasons I've fought so hard to preserve choice for our seniors through the preservation of strong Medicare Advantage plans is the simple fact that we know these plans work.

I think we are in need of serious solutions that prevent seniors from even getting to that point.

All things are truly possible in America.

It just seems appropriate that the generation to come will be better because of the D.C. OSP, Opportunity Scholarship.

I believe is critical to combating poverty, to unleashing our economy, and ensuring that students across the nation have an opportunity to fulfill their god-given abilities.

I do think it is important that while we are pretty decent at gathering information perhaps as a Federal Government.

I think would be very important.

I think the language needs to change around that so students can find their place in the apprenticeship program.

I do think that there is an opportunity--and I would love to engage you in this conversation about how we help our students make better decisions from a cost perspective.

Absolutely. We need to work on getting that information more available throughout my great State of South Carolina.

The lack of expertise in some of our regulatory bodies may be part of the reason why they are not aligned.

I worry that if we fail to shape regulation around the bedrock principle of policyholder protection that has served our State-based system so well for so long, we are going to eliminate products from the market or make them so expensive…

I think it is important that our discussion focus on the availability and the flexibility of a diverse set of insurance products.

One of the points I wanted to convey during this hearing is that as we struggle with the right regulatory environment, the expertise in the industry that you are regulating seems to be incredibly important and oftentimes missing.

We do look to you, we do look to our elected officials to give them the guidance that they need.

The question is: Why aren't we seeing more of them in the United States?

I look forward to working with you on housing, transit, and community development issues.

We need to reset our priorities in transit policy.

We need to be smarter about the way we use our Federal transit dollars.

We should have a serious, long conversation about those capital standards.

The FSOC's analysis of systemic risk makes it impossible for me to concur because the grounds for the final determination are simply not reasonable or defensible.

Thank you to the panel for participating in this hearing, and, certainly, your task is a daunting task without any question.

Obamacare was supposed to cost $1.8 trillion; the latest number is down to $1.3 trillion, which is a drop of half a trillion dollars.