[Congressional Record Volume 155, Number 132 (Thursday, September 17, 2009)]
[Extensions of Remarks]
[Page E2310]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           STUDENT AID AND FISCAL RESPONSIBILITY ACT OF 2009

                                 ______
                                 

                               speech of

                           HON. PAUL C. BROUN

                               of georgia

                    in the house of representatives

                     Wednesday, September 16, 2009

       The House in Comittee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 3221) to 
     amend the Higher Education Act of 1965, and for other 
     purposes:

  Mr. BROUN of Georgia. Madam Chair, I rise today in opposition to H.R. 
3221, the Student Aid and Fiscal Responsibility Act of 2009. I oppose 
this bill because, as the nonpartisan CBO has reported, it will cost 
taxpayers more than $15 billion over 10 years. And it could also 
eliminate as many as 30,000 private-sector jobs.
  In fact, H.R. 3221 will eliminate choice, competition, and 
innovation, while growing government and increasing the deficit. This 
bill will eliminate choice and competition by ending the Federal Family 
Education Loan Program and giving the Federal Government a monopoly 
over student aid financing.
  This bill will also reduce innovation and grow the government by 
expanding mandatory and entitlement spending by billions of dollars.
  When will the massive spending and Federal takeover end?
  Congress should not be growing government and increasing the debt 
burden on taxpayers. It has no business putting taxpayers on the hook 
for defaulted student loans when the private sector would gladly bear 
this risk.
  As Herbert Hoover once said, ``blessed are the young, for they shall 
inherit the national debt.'' That is a sad truth. We should be working 
to lessen that burden, not take away their choices and reduce their 
chances to succeed.
  Parents, college presidents, and financial aid professionals are 
against this takeover. They are the experts on this issue because they 
are the ones that have to foot the bill. I urge my colleagues to hear 
them and vote no on this legislation.

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