On the recordJanuary 26, 2012
I am going to speak about the debt disapproval resolution that is before us because I feel so strongly it is time to send a strong message to the President and give the people of America some comfort that we are not going to continue to raise the debt ceiling again and again without doing something that shows we understand the crisis we are in and that we are going to take the steps necessary to whittle down our debt and do the responsible thing. However, I do want to respond to what has just been said about the recess appointment of Mr. Cordray, the Director of the new consumer agency, which was done by the President when Congress was out of session, depriving Congress of the ability to advise and consent to this appointment. I think to put it in the context where it is proper, it is very important to know that this consumer agency was created by a Democratic President who had complete Democratic control of Congress and gave this agency unprecedented power--unprecedented in that the agency has no congressional oversight. None. We don't control the budget. In fact, no one controls the budget of this new agency that was created with complete Democratic control of Congress and the Presidency. This agency was created in the Dodd-Frank bill with no oversight by any entity whatsoever other than the Democratic President who signed the bill that was given to him by the Democratically controlled Congress. So Mr.…
