Jeb Hensarling

Americans are still mired in the slowest, weakest recovery of the post-war era.

Millions have become so discouraged trying to find a job that they have simply given up and left the workforce.

Since the President embarked on his economic program, middle-income families have found themselves with smaller paychecks.

Many American families are walking a financial tightrope.

If it is not working, it is time to do something different.

What the Majority is interested in, is having the Obama Administration actually obey the law.

Again, with all due respect, Mr. Secretary, we have heard that before.

Who at HUD is going to take responsibility, who at the FHA is going to take responsibility and comply with the law?

I guess this is the fear many of us have, particularly with members of the Obama Administration.

Whenever we can, we follow the law.

So you agree then, that HUD has been--and, again, you are relatively new on the job. We have been here before.

You agree that currently--because in your testimony I think you say, even with the one-off items of the settlement, the taxpayer bailout, you are below the 2 percent statutory level capital reserve.

You agree, I assume, that the Housing Act, 12 U.S.C. 1711, says that you shall--shall--keep a 2 percent capital reserve.

If a private company operated the way FHA operates, it would be shut down.

We work to make sure that the agencies under our jurisdiction treat the taxpayers' dollars with respect.

I believe that the Congress must always lead by example in matters of budgeting, especially in times of historically high debt.

I fear what you are doing is again repeating the exact same mistakes that brought us here in the first place.

I am now happy to yield 1\1/2\ minutes to the gentleman from Arizona (Mr. Schweikert), a member of the committee.

I am now very happy to yield 1\1/2\ minutes to the gentleman from the ``Live Free or Die'' State of New Hampshire (Mr. Guinta), a member of the committee.

I am now happy to yield 2\1/2\ minutes to the gentleman from Michigan (Mr. Huizenga), chairman of the Monetary Policy Trade Subcommittee.

I now yield 2\1/2\ minutes to the gentleman from Wisconsin (Mr. Duffy), the chairman of our Oversight and Investigations Subcommittee.

I am very happy now to yield 1 minute to the gentleman from North Carolina (Mr. Pittenger), a member of the committee.

At this time, I am very happy to yield 4 minutes to the gentleman from Pennsylvania (Mr. Fitzpatrick), who is the sponsor of this job-creating legislation.

``. . . to borrow money on the credit of the United States; ``To regulate commerce with foreign nations, and among the several States, and with the Indian Tribes; ``To establish an uniform rule of naturalization, and uniform laws on the…

I would point out to the gentlewoman, as I think she knows, it was the Democrat Senate who I believe is putting this in the bill, so perhaps she could negotiate that with Senator Schumer.