Hensarling on CNBC's Kudlow Report
House Republican Conference Chairman Jeb Hensarling (R-Texas) appeared yesterday on CNBC’s Kudlow Report to discuss the dismal record of the Obama economy and the House Republican Plan for America’s Job Creators.
Hensarling on President Obama’s record:
“It's quality not quantity that matters. And so if the president's complaint is that Congress has not passed enough laws, I would say after the passage of the stimulus program, I'm not sure the American people are better off $1 trillion later; after the passage of his health care plan that takes a half a trillion dollars out of Medicare, sets up 152 different boards and commissions and committees to get between people and their doctors … the bottom line is the president got just about everything he wanted in the last Congress and he is presiding over the slowest, weakest, most tepid recovery since the Great Depression. And he's looking to blame it on us.”
Hensarling on House GOP Plan for America’s Job Creators:
“Here’s the way that government can be involved in job creation: number one, do what Republicans want to do, and that is to create a tax code that is fairer, flatter, simpler, more competitive – a two-tier flat tax rate that we have put in our budget. Second of all, here’s something else government can do to help create jobs: put America on a fiscally-sustainable path. These serial trillion-dollar deficits that the president has brought us are hanging like a sword of Damocles over the economy. Number three, here's something else the House has done: we have voted to repeal the president's health care plan, which is one of the great impediments to job creation today. Here's something else Congress can do which we have done on our side, and that is to quit vilifying entrepreneurship and success in America.”
Hensarling on Jamie Dimon:
“The whole reason Jamie Dimon was there was because they made a bad mistake. They lost $2 billion. But when you look at the federal government: Pension Benefit Guarantee Corporation, roughly $23 billion in the hole; National Flood Insurance Program, roughly – I think it is – $18 billion in the hole; Fannie and Freddie, I think it's about $189 billion. When it comes to losing money, Jamie Dimon, by the standards of this town, is a rank amateur.”
Hensarling on Dodd-Frank:
“We still don't know all the facts [about the J.P. Morgan Chase loss], but what we do know is it appears to be a very well-capitalized bank and what people do with their money is their business. What they do with taxpayer money, I make it my business, and that’s the big question. Unfortunately, with the passage of the Dodd-Frank Act, this nation under President Obama has just codified ‘Too Big to Fail’ into law. What they call the ‘orderly liquidation authority,’ the Congressional Budget Office says, is going to cost taxpayer money. We've got to get ‘Too Big to Fail’ out of the system, and that's what that hearing should have been all about.”
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For additional information, contact:
House Republican Conference Press Office (conferencepress@mail.house.gov)
