Providing For Consideration Of H.R. 3221, Student Aid And Fiscal Responsibility Act Of 2009

Floor Speech

Providing For Consideration Of H.R. 3221, Student Aid And Fiscal Responsibility Act Of 2009

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Mr. DOGGETT. I thank the gentleman for yielding me this time.

The troubling legacy of the eight years of Bush-Cheney mismanagement includes many types of deficits. We all know of the soaring budget deficit, but every bit as real is the ``opportunity deficit.''

Despite our success earlier this year in creating a new higher education tax credit and expanding Pell Grants, too many young Americans find themselves unable to go to college because of financial barriers. As the gentleman from Colorado just mentioned, too many others leave college with such a mountain of debt they are unable to pursue some of the professional objectives that they would like to do.

When our youth cannot develop their full God-given potential because of financial barriers, our entire country suffers an opportunity deficit. With families struggling in this difficult economy, we bridge the opportunity gap and ensure that more students can obtain a college degree.

This bill really corrects two deficits left over from the Bush Administration by eliminating the waste and inefficiency in the operation of the federal student financial assistance program. It is truly an investment in America's future. By eliminating the unnecessary middleman role of private financial institutions, eliminating the red tape and lending directly to the students, the Federal Government will have more money for them and more resources left over to apply to reducing our national debt.

With the approval of this bill, just in my Central Texas congressional district alone, over the next decade, college students attending the University of Texas, Huston-Tillotson University, Texas State University, St. Edwards, and ACC, will receive more aid, about $46 million more aid, with this measure. Fifteen thousand more students will apply through the simplified financial aid application form, as we cut through the red tape. And we will have $15 million more dollars to help young people prepare to go to college to get the education that they need. Who could oppose such a winning combination of helping our students and reducing the national debt?

The SPEAKER pro tempore. The gentleman's time has expired.

Mr. POLIS. I yield the gentleman from Texas an additional 30 seconds.

Mr. DOGGETT. Who could oppose this winning combination? Well, the banks who pocketed the wasteful expenditure of taxpayer money, of course, and a few ideologues in the Republican Party who oppose all federal involvement unless it helps their buddies.

The alternative that the Republicans are offering today is little more than another corporate bailout that will provide billions more to lenders instead of reducing our debt and helping our students.

Let's invest in our students and reject another corporate giveaway.

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