i would like to read a poem that garrett's family and friends say who garrett was, dedicated to all marines. in a crowd you are bound to spot him. he's standing so very tall. not too much impressive. he's seen and done it all. his hair is short, eyes are smiling. only indication of the hell that he's gone through. he belongs to a say credit brotherhood always faithful to the end, has walked into battle and walked back out again. many people think him foolish for having no regrets after having lived through many times, others would forget. he's the first to go and last to know, but never questions why on whether it's right or wrong, but only do or die. he walks the path most won't take. he's lost much along the way, but he thinks a lot of freedom, it's a small price to pay. yes, he has chosen to live a life off the beaten track knowing well each time he's called, he might not make it back. so next time you see a devil dog standing proud and true be grateful for all he's given, he's given it for you. just thank god it's your country, he's always fighting for and thank him for all the hell he

garrett: i'm a laer. mr. akin: he's almost like one of tho jokes, but anyway, what is it that kis jobs? y businessmen in my district and'vheard this over and over, first thing is excessive taxation. you take a lookthe stimulus bill, huge amounts of federal spendi, you' got the socialized medine bill, y've gothe cap and tax bill l of those massive tax increases, capital gai, vidends, dthaxes, all these, more a more taxaon. heavy taxation. what does that do? it kills jobs. why would that be the cas ll, if you're a businessman and u're going to get xed a lot, it takes your money away investing back in your own business. and 80% of the jobs in arica are with companies with 500 or fewer employees so if that go that owns the sine, he looks like he's aich guy, maybe he's making more than $2,000 year, wll taxthat guy, if you tax that guy he can't t t money back into pti a wing in theusiness or whatever the new chnology is in creating the js. so this taxation inevitably works to create unemplment. you know, the funny

garrett: i yield back. the speaker pro tempore: members are reminded to address their remarks in debate to the chair and not in the second person. the gentleman from colorado is recognized. mr. perlmutter: thank you, madam speaker. and just remind the body that we're here on the f.h.a. bill, the reformation of f.h.a., which my friends have applauded. that's what we're here to really talk about, savings of $2.5 billion, more accountabili from f.h.a. which has had to fill a vacuum in the housing market because of the loss of so many lenders who got so involved with subprime loans. so i'd also say to my friend, mr. garrett, madam speaker, that i think that sometimes if you take a look at the past actions that we saw under the republican party and their failure to rein in fannie mae and freddie mac, rein in a wall streethat was out of control, cut taxes and not pay for wars, that gives you an idea of what they may be doing in the future. and that's what the peop of this country want to have an idea of what to e

garrett: yes. mr. hoyer: i do believe we come from a different place and i do believe that it's accurate to say that all of the republican presidents who have served during the time that i have served have advanced the proposition that regulation at the federal level was overburdensome and that it ought to be reduced. certainly we ought to reduce regulation that is nearly effective and is instrusive to the -- intrusive to the growth of this economy. mr. frank: will the gentleman yield? mr. hoyer: i will in just a second. but with respect to that, i think what we saw during the last decade was an excessive commitment, as mr. greenspan pointed out, to the proposition , as mr. royce stated, just get out of the way, they will discipline themselves. frankly, the split end that leaves two seconds early because the referee is out on the field is not a bad person. he's trying to get an advantage. that's the difference, i think, between our perspectives. i understand that difference of perspective so i agree wi

garrett, and a member opposed, will ea control fiveinutes. the chair recognes the gentleman om new jersey. mr. garrett: i yield myself three minute the chair: theentleman is recogniz for three mutes. mr. garrett: thank you. i want to begin my commt by restating the obviou that is the f.h.a. right now is in serious financl trouble. they brokered business during 2005, 2006, 2007was really small back then. and then the lending took off to nearly high levels and currently 30% of the market. the defaultfrtgages occur in the three, fo, five, six, seven years. we have ly seen sharp increase in defaults in the f.h.a. books and we he not gotten into the bad areas, problem years for 2008, 2009 we'l prably see those numbers go off the tck. some of my colleagues on the other side of the aislmay say there n't going to be a problem cause underwriting standards have tightened up some and the average fikeore has gone up. when you think about it that misses the point. the mortgage business y make ies an lose dollars. because of the tremendous increase in volu

then congressman scott garrett, working with the senate on a financial regulation bill. and walter isaacson, we will talk to him about contaminants during the vietnam war. according to a new report, 3 million vietnamese people and 150,000 children are still feeling the health effects from the contamination. "washington journal," live every morring on c-span. bp's ceo will be on capitol hill this week to testify before a house energy and commerce subcommittee. we will bring you live coverage thursday on c-span 3 and that c- span.org. having visited the gulf region for the fourth time since april, oil spill from the oval office. he makes his decision tomorrow. >> good evening. as we speak, our nation faces a multitude of challenges. at home, our top priority is to recover and rebuild from a recession that has touched the lives of nearly every american. abroad, our brave men and women in uniform are taking the fight to al qaeda wherever it exists. it to buy, i have returned from a trip from the gulf coast to talk to about a battle that is assaulting our shores and our citiz

scott garrett is working on the financial regulation bill. then walter isaacson will talk about the use of agent orange during the vietnam war. 3 million vietnamese people and 100 children are still feeling the effect of the contamination. this is live every morning at 7:00 eastern on c-span. >> this weekend, ty byrd with " crossing mandelbaum gate." juarez, aboutju mexico, and then "matterhorn," which follows bravo company through vietnam. and join us on twitter. 30,000 viewers already have. >> we have the c-span video library. we make it easy to follow the primary season, from the debates to the victory and concessions be six -- speeches. online, any time. >> an hour hearing on afghanistan. there is the 2007 goal of withdrawing u.s. troops from the country. the leader of u.s. forces, general david betray us, -- general petraeus, was here at the committee. he said -- he fainted halfway through this hearing, due to what he described as dehydration. >> we are receiving testimony on the progress in afghanistan, with the commander of central com

host: he is a republican from new jersey, scott garrett. the coverage on c-span will be live on c-span 3. we would join the conference in progress. it will be around 11:00 a.m. republican line, kansas. caller: with all of the bills that have come up in recent years, there are things that congress agreed with. it is such a big bill that you do not get any progress made, because everything is not agreed on. can the bill be strong -- smaller still you can agree on certain points and it can go through? guest: that is an excellent question. that is how the majority wants to do it. this bill is 1500 pages. on thursday we began our hearing. when it got to make, i asked for a show of hands of anyone who has read all of the pages. nobody raised their hands that they read the bill. host: have you read it? guest: i have read the sections we are dealing with. if you have not read it, how can you say it is a great thing? host: the conference committee will deal with corporate governance? is that the first issue on the agenda? guest: i believe cell along

we will talk with scott garrett about the negotiations so far coming up at 8:30 eastern time here in-span. general david petraeus testified yesterday on capitol hill. here is the headline from "the wall street journal." "bipartisan criticism as setbacks star of concern." starting at 9:00 we will have live coverage of that on c-span 3. joining us on the phone, roxanne coming to us from "of the hill." -- from "the hill." what do you expect to come out of today's hearing? caller: good to be with you. i would expect more of the same line of questioning and concerned, but the senate hearing this morning and later on in the house. the main areas of concern are the 2011 deadlines to start withdrawing troops from afghanistan and a date to study the conditions in afghanistan. both democrats and republicans are starting to become significantly concerned with u.s. strategy in afghanistan and are going to ask a lot of questions

morning on "washington journal, klaus corke simon -- 1 "washington journal," simon lomax and scott garrett. and walter isaacson will talk about the u.s. mmlitary using dioxin can eminence during the vietnam war. according to a new report, 150,000 children are still filling the effects of the contamination. "washington journal" is live every morning at 7:00 a.m. eastern here on c-span. >> it is campaign 2010 your way3 we make it easy to follow the primary season from the campaign trail and the debate today -pvictory in concession speeche. all free online anytime. >> now hearing on afghanistan including president obama's 2011 goal of starting the withdrawal of u.s. troops from the country. the head of u.s. forces in afghanistan and iraq, the general david petreaus, testifies before the senate armed services committee. the general fainted about an hour into this hearing. he said it was due to dehydration. >> good morning today. today the committee receives testimony on the progress in afghanistan from under secretary of defense for policy secretary flourney, and general david petreaus. genera

garrett votes aye. mr. smith votes aye by proxy. mr. kandorski votes no. >> the clerk will report. >> on that vote, the ayes are 7 and the nays are 12. >> the amendment is defeated. i believe we have the final amendment on this title. the clerk will designate the amendment. i ask unanimous consent that the amendment be considered as read. the german from california is recognized. >> -- the gentleman from california is recognized. >> there is a credible big bang solution that imposes losses that will be difficult to enforce, especially when regulators are explicitly directed to mitigate disruptions of the financial system as they are in the proposed reform bill. just a thought, chairman, but as a way to sort of overcompensate for this, because i think it has to be addressed, this proposed amendment which i won't ask for a vote on, but i will ask you to consider the substance of it to see if we can mitigate this to some extent, it addresses this specific concern of the federal reserve chairman. he argues that the fdic would be allowed to

the test has led to some apparently inconsistent results in different cases so you have a case like garrett on the one hand and a case like tennessee versus land on the other >> i know those cases very well. 5-4. o'connor went the other way, but they used proportionate congruity. what i want to know from you is whether you think that is an appropriate standarto replace the rational basis test of wertz. >> well, it is the standard of the court right now. it is precedent, and it is entitled to weight as precedent. now as you very well know, senator specter, there are times when the court decides that precedent is unworkable. it just -- it produces a set of chaotic results. >> what was unworkable about the wertz test for a reasonable basis contrasted with congruent and proportional which nobody understands? >> i wasn't -- i wasn't suggesting that the wertz test was unworkable. i think that the question going forward, and it is a question, i'm not stating any conclusion on it, but i think that something that juste scalia and others are thinking about is whether the congruent and proportionality

garrett: i thank the gentlelady. many have urged me to ensure congress enacts strong sanctions. we are all too well aware of the existential threat that a nuclear powered iran would be. but today we are about to pass a conference report that was supposed to protect americans and our allies. if that was our goal, i believe we only have partial success. as a conferee representative, i do admit that the sanctions themselves have been approved. i was pleased to see the legislation would cut off the connections between the u.s. financial sector and foreign financial institutions that do business with iran. yet the conference report, ye it does add additional types of sanctions and extends the range of current sanctions. but i remind my colleagues that these punishths are hardly crippling. they're hardly tough. they're hardly sweeping or even expanded if they're never enforced. now, my colleagues on the other side of the aisle claim that this time they'll work. but let me remind them a little bit of history. in 1996, congress passed the original iran sanction legislation, but in the l

garrett's graf from earlier? is that possible? mr. bernanke, it is my understanding that during the clinton years we had a surplus. under the bush years we had a deficit. is that an accurate statement? >> if yes. >> on this graph, as you can see bit on 2007, we can see the uptick on the bush administration policy. in the 2009 bar, how much of that is from the economic downturn and the bush policies? >> a lot of the increases in the past couple of years and the size of the deficit for next year is a portion of the deficit. but this picture does not capture is that the dominant factors will be the entitlement programs. medicare, medicaid, and social security will be the biggest. the recession component ought to go away, but we need to deal with the structural component -- component. >> he testified that the gdp will go up for 2010. you talk about a faster pace next year. what is the faster pace you are anticipating? >> there is a lot of uncertainty, but we're looking at 3.5% to 4% next year. >> you also talk about the fiscal policy effe

garrett. the speaker pro tempore: the gentleman from new jersey is recognized. mr. garrett: mr. speaker. like all my colleagues i believe that financial reform is necessary. but the legislation that's before us really which empowers failed bureaucrats through government overreach and unnecessary job killing is just not the right legislation. first one of the major fundamental flaws, 2,300-page bill is a section that basically empowers government bureaucrats with so-called resolution authority to basically pick winners and losers again to continue that failed bailout philosophy. i know the chairman and the proponents of this bill blame these provisions are meant to add certainty and stability to our financial system. but when you think about it, when you set up an alternative to bankruptcy for failed firms, so that there are now two potential tracks for failed firms to go down, that actually introduces more uncertainty, more uncertainty for the financial markets, for the investors, counterparties, for our entire economy. that uncertainty, what does it lead to? it leads to failing

garrett votes aye. >> clerk will report, please >> mr.hairman on that vote there are six ayes and ten nees. >> let me turn to a house response to the senate. >> i now move the house nd to the senate subtitle -- title 9 subtitle d as in david. we accept the senate counter offer with three modifications involving the landru and capro amendments. are there any further discussns? >> do you have a copy? >> i've since been informed we may have an agreement here. so i withdraw that amendment. i'm sometimes the last to know but at least still in time. so i -- do we now have a further one -- which one? and what's in the -- anything else? >>> i now move a counteroften on title 14. we accept the senate counteroffer with the following changes. we want to modify the language regarding the authority of hud, the department of veterans affair, agriculture to define qualified mortgages. we want to modify the aamendment regarding mortgage fraud. we had some concern o our judiciary committee part about criminal activity, i believe i discussed that with sena

that needs to be a separate group garrett on the beaches, we need -- separate group. on the beaches, and we need people to keep the oil from coming up. and thee need to be stationed on the viet 24/7. -- on at the beach 24/7. then a group to handle while alive. it can be done -- wildlife. it can be done. but you have to do it at first light, late evening when the water is calm. then you have your team in the marsh. they suck the material going to the top of the march. the last part of that team is going to be -- and they better be doing it now, one of three things. something to preserve the march to give wildlife a chance to come back, something to get the sticky stuff off, or something to set it off. they need to test all three. once we get the oil out, i am not an expert, i do not know what the best thing is, but something needs to be testing something so that when it is time to do that, we have the best chance to save the marsh. all of these teams need to be deployed, and they need to be deployed by area. if he is in charge of this area, we call him up and he brings

garrett: i thank the gentlelady. many have urged me to ensure congress enacts strong sanctions. we are all too well aware of the existential threat that a nuclear powered iran would be. but today we are about to pass a conference report that was supposed to protect americans and our allies. if that was our goal, i believe we only have partial success. as a conferee representative, i do admit that the sanctions themselves have been approved. i was pleased to see the legislation would cut off the connections between the u.s. financial sector and foreign financial institutions that do business with iran. yet the conference report, ye it does add additional types of sanctions and extends the range of current sanctions. but i remind my colleagues that these punishths are hardly crippling. they're hardly tough. they're hardly sweeping or even expanded if they're never enforced. now, my colleagues on the other side of the aisle claim that this time they'll work. but let me remind them a little bit of history. in 1996, congress passed the original iran sanction legislation, but in the l

garrett ofew jersey. the chair: a recorded vote has been requested. tse in support of the reque foa railroaded -- recorded vote will rise and counted. a suffent nuer having raisin a recorded vote is or. members will rord their votes electronic device. is is a five-minute vote. [captioning made pble by the national captiong institute, inc., in cooperation with the united stes house o presentatives. anuse of the clod-captned coverage of the house proceedings forolitical or mmercial purposes is expresslyrohited by the u.s. house of representatives.] the air: on this ve, the ayes are 131 the nays are 29. the amendments not agre to. for wh purpose does the gentlan from noh carolina rise? the houswill be in order. meers will -- mr. wilson: i ask annapolis csent to address the committee t rder. the chair: witht objection. mr. wilson: today i se to recognizreverend eddie lee carter on his retement from the hous where since 2004 he's been repairing d shining shoes. reverend eddie lee carter and i have a shared heritage. was born ineach island, south colina. mg

garrett votes no. mr. lucas votes no by proxy. mr. barton votes no by proxy. mr. smith votes no by proxy. mr>> madame clerk, i do have a proxy for mr. schuler. he votes aye. the clerk will report the tally. >> there are 20 ayes and 11 nays. >> i am pleased to be able to report to you that we send you the approval of the financial reform bill. >> we congratulate you on a terrific job. house members will now vote on the senate side. the ayes will have it. [laughter] i asked the clerk to call the roll. >> mr. chairman, aye. mr. johnson, aye. mr. schumer, aye. ms. lincoln, aye. mr. leahy, aye by proxy. mr. harkin, aye by proxy. mr. shelby, no. mr. corker, no. mr. gregg, no. >> the clerk will report. >> the votes are 7 aye, 5 nay. the bill is passed. >> i thank my colleagues, immensely. [applause] >> will the house and senate conferees in favor of passage of the bill, i declare the bill passed and the conference committee is now adjourned. [applause] [inaudible conversations] >> i think chairman frank and his team. we recognize the tremendous effort of the staff, repre

hensarling and garrett of new jersey. from the committee on agriculture for consideration of subtitles a and b of title 1, sections 1303, 1609, 1702, 1703, title 3 except sections 3301 and 3302, sections 4205-c, 4804-b-8-b, 5008 and 7509 of the house bill and section 102 subtitle a of title 1, sections 406, 604-h, title 7, title 8, sections 983, 989-e, 1027-j, 1088-a-8, 1098 and 1099 of the senate amendment and modifications committed to conference, messrs. peterson, boswell and lucas. from the committee on energy and commerce f consideration of sections 3009, 3102-a-2, 4001, 4002, 4101-0118, 4202, 4204 through 4210, 4314, 4401 through 4403, 4410, 4501 through 4509, 4601 through 4606,815, 4901. in that portion of section 8002-a-3 by adds a new stion 313-d to title 13, united states code, of the house bill and that portion of section 502-a-3 which adds a new section 313-d to title 31, united states code, section 722-e, 1001, 1002, 1011 through 1018, 1021 through 1024, 1027 through 1029, 1031 through 1034, 1036, 1037, 1041,

. >> let's go to congressman garrett. -- congressman barrackarrett. do you support repealing 388? >> we have the grocery tax, the cigarette tax, i think that we have to look at our tax system holistic play. how we can come up with a system that is fair and more sustainable and more accountable area that is important if we are going to budget like you're talking about. i have also talked with a dear friend of mine who is on the budget forecast for board. we need to -- the budget forecaster board. we need to have a budget freeze for one year and do something different where we know how much money is in the bank before we allocated. at least we do not have to go back in the middle of the year and say that we have to cut the budget again. >> as it relates to act as 388, are you willing to change or repeal? >> i think that we need to look at everything holistic look, and i think that means all of our taxes. >> with teacher salaries being cut, what would you do to keep the best and brightest to guns in our state? -- students in our state? >> you always cut from the top. we should not be

garrett: i know o leer was speaking momt ag with regard to wt is goig to be coming shortly, which is the .r a mion to recommi hat will ruce the reglatory burden by realing the so-called individual mandate fr the recently passed health care bill. y do i talk out that now? i have a bill, the reclaiming indidual liberty act which ulrepealhat mandate. the authorittoulate us aspectsf our economy is broad, but not that broad to be able to imposen individual mandate. what we kw by doing so weill hurt not only the individual and this country as well. of so i coend the gentleman r his worinhigard and the m.r. that we wl se a few momentbecain that m.t.r. st as reclaiming the invial liberty act, we recogze that the constitution prohibits the expansi of gornment authority in the are if we had t ability to do that , uldn'te have donit la year with gard to th au industry? could maate peopeo buy autobiles. we can't do it in ts area. and i mmend your work. mr. cai thank the ntlen for his coents ande mas a very important point and in osing, i just want to s we look at the sts th the individualandate

the test has led to some apparently inconsistent results in different cases so you have a case like garrett on the one hand and a case like tennessee versus land on the other >> i know those cases very well. 5-4. o'connor went the other way, but they used proportionate congruity. what i want to know from you is whether you think that is an appropriate standard to replace theational basis test of wertz. >> well, it is the standard of the court right now. it is precedent, and it is entitled to weight as precedent. now as you very well know, senator specter, there are times when the court decides that precedent is unworkable. it just -- it produces a set of chaotic results. >> what was unworkable about the wertz test for a reasonable basis contrasted with congruent and proportional which nobody understands? >> i wasn't -- i wasn't suggesting that the wertz test was unworkable. i think that the question going forward, and it is a question, i'm not stating any conclusion on it,ut i think that something that justice scalia and others are thinking about is whether the congruent and proportionality

garrett's chart, please? now, this chart doesn't talk about 2003, 2002 and 2001. do i understand when president was came into office the great deficit areas during his administration were projected to be a total of $45 trillion in surplus. is that correct? when president bush walked into office? >> the ten-year projection. >> been then remake of to 2009 it looks like maybe a $1.4 trillion deficit in 2009, the first year the obama administration. am i not correct in undetanding 1.3 trillion of that was projected before president obama was sworn into office so about 93% of that first read column for 2009 was projected before president obama signed a single bill into law. is that about correct? >> as of when? >> as of while president bush was still in office, where their projections for 2009 two b.a. $1.3 trillion deficit? >> i don't remember the exact number but clearly most of that deficit was the result of the recession and the financial crisis. >> i think cbo projected a $1.3 trillion deficit before president obama was sworn into office. let me ask you, dr. orsza

that creates an undue burden on our many small sporting goods and sportsmen outlets, places like garrett's guns and mark's guns, just in my local community that support the sportsmen community, hunters and shooters that give a lot back, particularly in the maintenance of the nature areas where they work. these biweekly tax payments are expensive, they create additional overhead and frankly this time-consuming process consumes dollars that in fact could be used for job creation on the outside. we believe it could free up as much as $22 million for these businesses, especially the small businesses, to grow, to hire jobs, and to have a more positive affect on their community. as well as expanding a base of additional customers for that excise tax in the long run. it's a great bill, it's supported by all the associated parties. i urge my colleagues to adopt this sensible measure and with that i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from wisconsin. mr. ryan: at this time, mr. speaker, i'd like to yield such t

garrett votes no. >> lucas no by proxy. >> mr. barton? >> no, by proxy. >> mr. smith votes no by proxy. >> issa? >> no, by proxy. >> mr. graves? >> no, by proxy. >> madame clerk, mr. schumer votes aye by proxy. >> mr. schumer votes aye by proxy. >> what is the tally? >> 20 ayes, 11 nays. >> the house sends you its approval. >> let me congratulate you on a terrific job. we will now vote on the senate side. those in favor aye, those opposed nay. the ayes have it. [laughter] i will ask the clerk to call the roll. >> mr. chairman? >> aye. >> mr. johnson? >> aye. >> mr. reed? >> aye. >> mr. schumer. >> aye, by proxy. >> ms. lincoln? >> aye. >> mr. harkin. >> aye, by proxy. >> aye, by proxy. >> mr. shelby? >> no. >> mr. crapo. >> no. >> mr. corker. >> no. >> mr. gregg. >> no. >> mr. chambliss. >> no. >> the clerk will report. >> 7 aye, 5 nay. the bill is passed. >> i thank my colleagues. [applause] >> with the votes of the house and senate conferees in favor of passage of the bill, i declare the bill passed and the conference committee is now adjourned. [applause] >>