Providing for Consideration of H.R. Fiscal Responsibility Act of 2023

Floor Speech

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Mr. GREEN of Texas. Mr. Speaker, I rise today with a testimony, the genesis of which is, I believe that President Biden did the best that he could in developing this legislation. I support him. I thank him for what he has done. I believe that Leader Jeffries did an outstanding job in making it perspicuously clear that default was not an option, but here is the essence of my testimony: I had the preeminent privilege of serving in Congress in 2008 September, I believe it was, when we had the downturn in the economy and there was a clarion call for help to do what was called bail out the banks.

I was adamantly, totally, completely opposed to bailing out the banks because I thought it was not the thing to do, given that the banks did not ask for our help in getting into the position that they were in.

I stood in the rear of this Chamber, and I could see the votes as they were being tallied. I could also see the stock market reacting to the votes as they were being tallied. The stock market went down as the bill went down--777 points, a 7 percent drop in the stock market.

My constituents had told me not to vote for that bill, and I concurred with them. The next day my constituents called, Why didn't you vote for that bill? Why did you let the market go down?

I learned a lesson: Votes like this are votes of conscience, and you have to vote your conscience knowing what the consequences are.

Mr. Speaker, I will vote for this bill because I understand the consequences of the market tanking. I was here, and I saw it. I understand we have to take care of our people.

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