Jeb Hensarling

The major driver of our long-term liabilities, everybody here knows, is Medicare and Medicaid and our healthcare spending. Nothing comes close.

The purpose of today's hearing is to really highlight the unsustainable nature of our Nation's debt.

Let's raise taxes on job creators. Mr. President, the American people don't want that.

The president's answer? Let's raise taxes on job creators. Mr. President, the American people don't want that.

The President's answer? Let's raise taxes on job creators. Mr. President, the American people don't want that.

The president's answer? Let's raise taxes on job creators. Mr. President, the American people don't want that.

The President's answer? Let's raise taxes on job creators. Mr. President, the American people don't want that.

Earlier this week, USA Today reported that we have the fewest participants in our workforce than at any time in 30 years. And my Democratic colleagues announced their plan to increase taxes $1.5 trillion on our economy, much of it on our…

These plans are based on a fundamental error that the government can act like an insurance company and set a correct price for the risk it is taking.

About 6 months ago, I believe it was before the full committee in September, you seemed to question--call into question the government's ability to accurately price these guarantees.

Thank you. I thought that was the answer, so you clarified that for me.

If we don't have a reform plan, the conservatorship that Fannie and Freddie are presently in could not continue in perpetuity.

I assume by definition, you do not define 10 years as acting precipitously. Is that correct?

It was literally the only opportunity that we have had to offer an alternative to respond to the complete absence by our Democratic counterparts to address the issues at all in the now sacrosanct Dodd-Frank Act.

I know those on the other side of the aisle will be critical of this Congress about the pace in which this committee has formally considered legislation to address Fannie and Freddie.

Today, we begin the process of considering specific legislation that will take immediate steps to protect taxpayers from the ongoing multi-billion dollar bailout of Fannie Mae and Freddie Mac.

We heard throughout the debate there needs to be a consistency, a consistency of debate. So let me get this right. A payday lender is guilty of predatory lending if they loan money to somebody who is underwater, to somebody who may be…

We on this side of the aisle fervently believe that you will not have job creation until you put the Nation on a fiscally sustainable path. We are talking about $1 billion here. If we can't do it on this program, what program can we do it…

We have discussed that, but a number of small community banks said, 'We are going to get left off this system. It is going to hurt our net revenue.'

The world works off of incentives. If I was the credit card company and you wouldn't allow me to recoup my fraud prevention cost, and you would allow me to recoup my fraud cost, I guess I would allow fraud in the system. My guess is that…

I think we could all agree that the taxpayer should no longer be on the hook for losses, and that reforms to the housing finance are long overdue.

If you want to bet on conspiracy versus incompetency, incompetency wins every time.

I think it is sad that such an important work is hard to take seriously when it was conducted on such a partisan basis.

You did say in the report you determined government housing policies were not a significant factor in the crisis.

I was hopeful we could move as a Commission to the fundamental causes and understand them. We got side-railed in a partisan, political way.