neugebauer: i urge my colleagues to vote in favor of the neugebauer amendment and i yield back my time. the chair: the gentleman from washington. mr. dicks: i rise to strike the requisite number of words. the chair: the gentleman is recognized for five minutes. mr. dicks: the b-2 has been used in a number of places, and we had a multiyear purchase agreement for b-1's, we had a unanimous vote, i think it was very bipartisan, i say, you know, i agree with the gentleman, we don't have enough bombers. that's why i'm so strongly committed to the next generation bomber. but as has been pointed out, that's going to be several years away. we tried to add money this year to accelerate that because we do need a follow-on bomber. and so i -- >> would the gentleman yield? mr. dicks: i will yield. >> mr. neugebauer: i agree and the b-1, b-2 and b-52's, are important. we don't have a a replacement bomber in the works at this time. until we develop that, we need to be stratenal i think about what level we maintain our current fleet until we know what's going to replace it. i yield back to the gentlem

reporter: an ordinary congressional hearing this morning chaired by texas republican congressman randy neugebauers important about it. those guys. those guys, right now, at this moment, may be the most powerful guys in the world. because they run the credit rating agencies, standard & poor's, moody's and other firms that make billions just by rating just how risky it is to lend money to businesses or to countries. >> am i right to worry that this could be real bad if our debt was downgraded? >> reporter: that's what everyone is worried about. these guys and their firms downgrading u.s. bonds, declaring to the chinese and the arabs and investors all over the world that our country may be a little risky to loan money to right now. so, what does it mean to you? >> it's important because for the average consumer on main street whehethe government's credit gets downgraded and uncle sam has to pay more to make good on its debt and its loans, consumers will also have to pay the price. >> reporter: farnoosh tornabi is a personal finance expert in new york city. and she's got a simple message. >> uncle sa

rules created by the two new government agencies that too but i have a question for congressman neugebauer and other g.o.p. lawmakers in his camp at what point will you stop protecting the people who helped cause the financial crisis in the first place the big banks and wall street played by their own rules for years and look what happened they helped plunge the global economy into a recession and yet just a few years later the g.o.p. is back protecting them wall street and big banks have proven that they can't be trusted and lawmakers still want to ease off on the restrictions which aren't even tough enough to begin with so far as fancy regulation blocking replete with dictatorship comparison we are giving tonight's tool time award republican congressman randy nada bauer of texas. all right the country may be headed for default but there is still time for happy hour and joining me for it is r t correspondent christine and j.p. fair he is senior communications strategist with new media strategies thanks for being here you guys all right so sticking to the debt debate and some of the intere

>> chairman neugebauer, mr. capuano, i am a professor of economics at the stearns school of business. represents only myself at this hearing. thank you for the opportunity to testify on this important topic. the three large u.s.-based credit rating agencies, moody's, standard and poor's and fitch have their optimistic ratings from mortgage-backed securities in the middle years of the past decade. played a seminal role in the financial debacle of the past two years. given this context and history it is understandable there would be strong political sentiment as expressed in section 932 of the dodd-frank act for more extensive regulation of the credit rating agencies in hopes of forestalling future such debacle's. advocates of such regulation figuratively or literally want to grab the rating agencies by the lapels, shake them and shall do a better job. this urge for greater regulation is understandable and well-intentioned but is misguided and quite harmful. the regulation of the rating agencies will discourage an

i would like to recognize the german neugebauer for questions. >> thank you, madam chairman. i think to restate everybody agrees with the mortgage servicers if they violated the law you've taken the appropriate action and nobody is faulting that. we also need to understand the servicers in many cases did not originate so many cases we have to be careful of what we are punishing them for is it for servicing, are we trying to punish them for mistakes what he did what i am concerned about as clear evidence this administration has been trying to install to the settlement agreement policies this congress has rejected, and that's the point that i want to cover. adverse wrote secretary -- settlement to read the response we got back was that the quest was limited to advice yet when we receive documents that was produced to the committee says ms. cfpb took a leadership role in the senate and talks about e-mails, females show this efp convening an emergency meeting with certain attorney general's to push settlement solutions that focus on the principle reductions would you agree that c

neugebauer for monday, july 11. the speaker pro tempore: without objection. the request is granted. the chair will entertain one-minute requests. for what purpose does the gentlewoman from texas rise? ms. jackson lee: thank you very much, mr. speaker. there have been a number of points that i would just like to bring really to the attention of my colleagues and to indicate that i hope we can do better. that's my message. i hope we can do better. i hope we can do better than having two presidential candidates in the republican party sign a pledge that would suggest that would suggest that children of slaves were much better off than the children of african american parents today. we know we have a high number of single parents throughout the united states raising children, but just read the saves' narratives and the biography of frederick douglass, there was no marriage between slaves and children were torn away and those who had given birth and they were torn away from each other. slavery was a destructive part of this country. and i would suggest if we are negotiating the debt ceil

i hereby appoint the honorable randy neugebauer to act as speaker pro tempore on this day. signed, john a. boehner, speaker of the house of representatives. the speaker pro tempore: the prayer will be offered by chaplain father conroy. chaplain conroy: let us pray. thank you, lord, for giving us another day. at the end of a hard week and after a long night, we ask again your blessing on the members of this people's house. there is very hard work to do as the weekend nears. give each member strength and wisdom that they might fulfill the awesome pocket they have to work a solution to our nation's challenges. we pray, as well, for the families of these men and women during a distressful time. give them peace and calm as their loved ones labor here. may they know and experience the presence of your spirit and know with confidence that the entire nation is grateful for their generosity. it is their love and support that strengthens the members of the house. bless all families, o god, that their love for each other will be a witness to your love for each one of us. and may all t

neugebauer: -- >> the story title "medicaid payments go under the knife." this is an issue that unfortunately is going to continue to get worse. medicaid isn't just going under the knife, it's being slashed. the simple truth is is only an empty promise for people who may need services and the affordable care act, the affordable care act is only going to exacerbate patient access to physicians. mr. burgess: it has changed what was a program that was designed for the poorest of the poor, pregnant women, children and the elderly, and turn it is into a one-size-fits-all government program. it will add millions of younger adults, putting an even greater strain on the state budgets. the health care law never addressed the root problem. we need to ensure that medicaid spending is directed in a fashion at that provides an actual safety net for those in need and allow states to create a range of products so to give medicaid patients access to their physicians and better care. we actually need to get back to the basics and it's essential that we examine medicaid and

chairman neugebauer. >> thank you very much.i want to associate myself with some of my colleagues who have spoken earlier about the fact that we've almost made an implied guarantee of money market funds by the fact that the government stepped in. and, you know, that's something we've got to fix because we can't let companies pick up the profits and the taxpayers pick up the losses. and so i think this is a healthy discussion. i think one of the things that -- and i'm not necessarily associating myself with the floating asset value concept at this particular point in time, but i do have to, we have to think about if you are going to classify yourself as an asset manager, at that point where the value of the underlying securities is less than what you are obligated to pay, you're moving away from an asset manager to you have created a security that comes with a obligation to the firm managing those assets. and so i guess one of the questions i would have for the panel is if, where am i missing the fact that that, creating that add