[Congressional Record Volume 154, Number 75 (Wednesday, May 7, 2008)]
[House]
[Pages H3181-H3182]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  FORECLOSURES AND CONSUMER CONFIDENCE

  (Ms. JACKSON-LEE of Texas asked and was given permission to address 
the House for 1 minute and to revise and extend her remarks.)
  Ms. JACKSON-LEE of Texas. Mr. Speaker, today, we were discussing very 
important legislative initiatives dealing with the Neighborhood 
Stabilization Act that would give $15 billion to reclaim foreclosed 
homes, and an important legislative initiative, the American Housing 
Rescue and Foreclosure Prevention Act that would revise a number of the 
GSEs like Freddie Mac and Fannie Mae, all to help the American people.
  In my discussion on the floor of the House, I indicated that we are 
moving

[[Page H3182]]

toward a recession and a depression. The gentleman who was then 
managing the rule, H. Res. 1175, indicated that we as Democrats must 
stop telling untruths. To that I asked the gentleman whether or not he 
was calling me a liar.
  I wish to read into the Record that when that inquiry was made, the 
gentleman responded, as I said, I assume that he was not suggesting 
that I am a liar. The gentleman said ``I did not suggest that at all.''
  It is important to note that America is suffering. Between 7,000 and 
8,000 people a day are filing for foreclosures and that consumer 
confidence is down. We are moving toward a recession and maybe a 
depression.

                          ____________________