mr. luke meyer said we do put out a quarterly report and so luke meyer, to his credit asks my staff to go and review the report with him, we would be glad to do that with you. to your question as to whether i have an update to that capital reserve ratio the answer is no because congress has an independent act tuary that does that. >> are the premium revenues that you projected to meet the standard because i believe what you told me in february is by the end of 2015 is you would be at 2%. so you don't have any idea whether you're going to be at 2% by the end of the year? >> to correct the record, what i said is that we expected within two years that we would reach the 2% capital reserve. that's what i said. >> well i think the problem a lot of us is you're running an organization that has a $42 billion budget. has a trillion dollar plus contingent liability. and we don't have -- we don't have the ability to track progress other than on an an mull basis? >> that is not true at all. you asked specifically about -- >> let me ask you about the revenues. are the revenues on track to meet that g

mr. luke meyer and then came to the better side of the state and spent time in kansas city. and so we're here today with the hearing entitled "the future of housing in america, oversight of the department of housing and urban development." it's always important to look to the future and hopefully this hearing will deal with the future more than the past or otherwise we are like somebody trying to drive a car looking through the rear-view mirror. i think we've got to go to the future, figure out the things that we can do that would be important. but if we look at the past i think it's important for us to think about the fact that when the economy teetered on the brink of cataclysmic collapse in 2008, the housing market was decimated, some families lost generations of wealth and unemployment skyrocketed. home sales ground to a halt. and in the seven years since our economy has slowly improved. last week, as they do every month, the bureau of labor statistics announced the economy added 280,000 new jobs and the 63rd consecutive month of private sector job creation. private sect