paulsen helped convene it and we appreciated that. but sheila testified that at age 10 she was diagnosed with bone cancer in her leg. she was an elite athlete for her age, playing gymnastics and track, and one day she just woke up facing the prospect of amputation of all things. at age 10. biomet, a company out of indiana, made a custom device for sheila designed to expand as she grew. and to replace the diseased bone while saving her leg. now, today sheila's much older. she lead as normal, active life. when we first met she was a nior in high school in indiana. her courses were geared for college preparation, she received honors for a g.p.a. of 3.5 or above. she's maybe of the national honor society. now, ms. frazier no doubt has a bright future ahead of her. we have to wonder how differently her life might be were it not for the innovation that occurred at that indiana medical device company. innovation in devices changes lives. thousands of lives every year across this country. she's just one remarkable example of all the people th

paulsen use that power in 2008 to put them into receivership. we were then planning to do something about it and then the financial crisis hit and we made the judgment in the congress that trying to restructure housing, finance going forward at the same time as you are doing all the other financial reforms which were more backward looking, it was too heavy a lift. if we had maintained the majority, i promised we would look at fannie mae and freddie mac going forward. the republicans took over and this is the dilemma -- there is a genuine split ideologically as to what we would do. there are a large number of people who believe, including people in the housing business, that you cannot have 30 year fixed rate mortgages unless the lender who was ultimately responsible for that can get some guarantee against interest rate fluctuation. they say people will not lock in. unless the initial interest rate is so high that you can make money. i think there is a consensus, i hope so, that fannie may and freddie mac, that was not a good model. there were to

morgan paulsen awaiting results of an mri on his knee injured on the last play of the game last night. they need the big fellow. >> they've got time to make some adjustments. >> two weeks before dallas. >> that's all for our news at 7:00. we'll be back at 11:00. >> you can log on any time www.wusa9.com. have a great evening, everybody! bye. and when you get up -- can i play? no! you don't even get football. [ male announcer ] when you've got 100% fiber optic fios, you get it. america's fastest, most reliable internet. it's the ultimate for downloading, streaming, and chatting. -- that guy all over the football field. thanks, joe. if the running backs don't start picking up the blitz, the quarterback is going to have a long night. is that your sister? look, are you trying to take my job? maybe. technology that lets you play with the big boys. call the verizon center for customers with disabilities that's powerful. at 800-974-6006 tty/v. >>> katy perry's suicide confession. >> what led the superstar to consider taking her life. i'm nancy o'dell. >> i'm rob marciano. ♪ you're going to he

paulsen: i thank the gentleman for his comments. across the country we have states impacted by this new device tax. but it shows how this is an industry that's an american success story, it covers all air dwhreefs country from the midwest to the east coast and the west coast. and to share in that view, a new leader as well, the medical device industry generates $12 billion for california, significantly more than for any other state, so the 21st congressional district is representedly bimr. valadao. mr. valadao: a nearly $35 billion device tax took effect on january 1, 2013. plarkt place. at this time it's cost over $1 billion. for fiscal year 2014, which starts october 1, the device will cost manufacturers over $2.5 billion. the additional cost burdens resulting from this tax will force manufacturers to reduce or freeze hiring or even eliminate current employees. putting over 3,000 american jobs at risk. that's why i co-sponsored the protect american innovation act which aims to repeal the excise tax on medical devices. this is a bi

paulsen: to address the house for one minute, revise and extend my remarks.he speaker pro tempore: without objection, the gentleman voiced for one minute. mr. paulsen: thank you, mr. speaker. i rise today to recognize national ovarian cancer awareness month. this past weekend i joined neighbors to help kick off the annual minnesota ovarian cancer alliance walk and run. each year thousands come out to this event in a park to raise awareness and education of ovarian cancer, to raise funds for research and to give support and hope to local women and their families that are touched by this devastating disease. in 2013 alone, the american cancer society estimates that about 22,000 new cases of ovarian cancer will be diagnosed and 14,000 women will die of ovarian cancer in the united states. this last march i met with a group of doctors and nurses from every major health system in the twin cities to discuss cancer care and prevention and i'm pleased to co-sponsor legislation that ensures that cancer patients get the care they need. mr. speaker, the powerful stories

joining us is our guest host today, strategos managing partner and from minneapolis, jim paulsen, wellsment strategist. jason. when you see the futures this morning the reaction, what do you think is happening? is this syria? is this what's happening with the economy or is it just the people are coming back for the work after having august off? >> it's probably a combination, kif giving you wishy washy answers. a combination of the three. it think it has to do with fact that they are off the table until congress gets back from vacation. it's such a pressing issue they thai may have to be on evacuation for another week. >> it may never happen. >> i think it brings up other questions, sirria though, which are important with regard to the taper. i think it bring noose focus potentially the president's pick for who succeeds chairman bernanke. >> how does syria relate to the taper? . >> the same people. i talked to dan clifton in our walk office this morning. the same people the president needs to vote for the drts that he needs to vote for authorization on syria are the same people he's goi

paulsen: thank you, mr. speaker. we all know that the medical technology industry is one of america's leading manufacturing industries and has huge potential, huge potential to continue being a vehicle for creating jobs. this american success story employs more than 400,000 workers, pays salaries 400% higher than the average national wage, is one of the country's fewest industries that imports more than it ex--- exports more than it imports. it is made up of small businesses, 98% of them have less than 500 employees but most importantly it's an industry that saves and improves lives for patients. medical devices help slash the death rate from heart disease by a stun 50g% and cut the death rate from stroke by 30%. but mr. speaker, last january, a new $30 billion medical device tax was enacted as part of obamacare. it's not a tax on profit, it's a tax on revenue. it's a tax on sales. no one can explain why this industry was singled out, other -- to pay for a $trillion for a trillion-dollar law. but layoffs have been an

e financial paulsen in 2006 become secretary of treasury and says, we have to fix it. he says if you become the chairman, will you do that? i said yes. i knew we needed to do something by 2004. in 2007, we gave the bush administration most of what it wanted with regard to fannie mae and freddie mac. paulson use that power in 2008 to put them into receivership. we were then planning to do something about it and then the financial crisis hit and we made the judgment in the congress that trying to restructure housing, finance going forward at the same time as you are doing all the other financial reforms which were more backward looking, it was too heavy a lift. if we had maintained the majority, i promised we would look at fannie mae and freddie mac going forward. the republicans took over and this is the dilemma -- there is a genuine split ideologically as to what we would do. there are a large number of people who believe, including people in the housing business, that you cannot have 30 year fixed rate mortgages unless the lender who was ultimately responsible for tha

. >> you guys, just on friday we had former treasury secretary hank paulsen on the show. he said one of the reasons he liked larry even though he was not saying one way or the other, one of the reasons he liked him was because he had a very close relationship with the president and he said from his own experience that close relationship with the president was absolutely key. is there someone else you look at who has a close relationship if it's not geithner and if it's not bernanke and if it's not going to be summers? >> i think the short answer to that question is, no, there's not. >> it's ben. >> it's probably ben. he's the only one. geithner is the one who has that relationship. he's made it clear he's not interested. >> ben white. >> if a part of the campaign against larry and it was a part was to say how could you pass up a highly qualified woman who's serving in the number two job who has all the credentials, the market likes, how could you turn away from that person for somebody like larry given the controversies associated with him, it will be awfully difficult fo

paulsen: we all look forward to the day when cancer is 100% treatable in all our children. that's why i stand alongside doctors and families and most importantly cancer patients as we look for a cure. the speaker pro tempore: for what purpose does the gentleman from kansas seek recognition? >> i ask unanimous consent to address the house for one minute and revise and extend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one inute. >> mr. speaker, freedom of speech and religion and the recognition of god-given dignity of every human life are core principles on which america was founded but these inherent freedoms are being attacked. the southern poverty law centers is one of the worst offenders. this group routinely attacks mainstream pro-family organizations slandering them with accusations of hatred and bigotry. mr. huelskamp: motivated by their inflammatory rhetoric, a into an office and shot a security guard. he admitted it was because of the southern poverty law center's list. the speaker pro tempore: for what purpose does the ge

paulsen use that power in 2008 to put them into receivership.anning to do something about it and then the financial crisis hit and we made the judgment in the congress that trying to restructure housing, finance going forward at the same time as you are doing all the other financial reforms which were more backward looking, it was too heavy a lift. if we had maintained the majority, i promised we would look at fannie mae and freddie mac going forward. the republicans took over and this is the dilemma -- there is a genuine split ideologically as to what we would do. there are a large number of people who believe, including people in the housing business, that you cannot have 30 year fixed rate mortgages unless the lender who was ultimately responsible for that can get some guarantee against interest rate fluctuation. they say people will not lock in. unless the initial interest rate you can makeat money. consensus, i is a hope so, that fannie may and freddie mac, that was not a good model. air were to alternative approaches. one that chairmanhens

. >> paulsen asked me to do this.ou are not going to get a word in edgewise with barney on the panel and he said don't worry i'm really aggressive. >> to me where politics could enter and so i agree with barney we have a lot of tools that we need and on top of that the banks are better capitalized than better regulated and so on and as you know my focus is on other issues. now that the big banks aren't a problem and not that we don't have more to deal with a big banks but i'm much more focused on fannie and freddie and the shadow banking markets and so on. i do want to say we will know how these things work when we have a crisis and when the people are sitting in their seats of authority. again, the place where politics could come in is partly -- because the things we did were so unpopular. really unpopular. there were polls when i left office that showed they showed more favorable than the tarp. it was funny now but at the time i got to tell you. >> and you weren't up for re-election. >> those who voted for it were m

i don't think bernanke could do we he did or paulsen could do what he did.ked, the only thing to stop it basically is somebody who has the ability and the will to say i will do whatever it takes. that is what bernanke impulse and and finally the congress reluctantly said to the american public nobody knows what section 13 is from the federal reserve for act as a and it was active but you have the strong characters who have the ability to print money and they said we will do whatever it takes. the president was behind them and the way i am wondering fact that you are acting with t.a.r.p.. there will be another panic. where it comes from, who knows but when that time comes the question will be are the people who panicked to cause the economic engine to stop, will they believe and come back to fetch it is very hard to right regulations that would keep people from acting foolishly especially one that has been proven very profitable. is the way that works. they all think they are cinderella at the ball. as the night goes along and the drinks flow they all think t