As Predicted, Health Care Costs Will Rise

Floor Speech

As Predicted, Health Care Costs Will Rise

(Mr. ISSA asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. ISSA. Mr. Speaker, I have been here for about 30 minutes listening to both sides talk past each other. Mr. Speaker, the American people, they get it. They get it that in fact cap-and-trade will increase the cost of doing business; that health care, which is already too big a piece of the family budget, is going up, not down; that government is increasing spending at a time in which the revenue is far less than what we're spending. In fact, 40 percent of the budget is being borrowed. And now we're having the hubris to call financial reform of something that in fact is a financial bailout guarantee.

Under President Clinton and a Republican Congress, Glass-Steagall was eliminated. Why in the world wouldn't we be talking about simply recreating the separation between real banks that the FDIC does have a fund for, created by the banks, and investment banks, which you recognize if they fail, they fail, and you are only guaranteed on the underlying stock.

Mr. Speaker, I call for real reform.

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