[Congressional Record Volume 155, Number 169 (Monday, November 16, 2009)]
[Extensions of Remarks]
[Pages E2764-E2765]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




RESOLUTION OF THE HAMILTON COUNTY COUNCIL ENCOURAGING THE PRESERVATION 
                            OF INDIANA JOBS

                                 ______
                                 

                            HON. DAN BURTON

                               of indiana

                    in the house of representatives

                       Monday, November 16, 2009

  Mr. BURTON of Indiana. Madam Speaker, in October the national 
unemployment rate reached 10.2 percent, the highest level of 
unemployment our country has seen since April 1983. Clearly, the 
stimulus package rushed into law earlier this year has failed to create 
the jobs that President Obama, Vice President Biden, and the Democrat 
Congressional Leadership promised it would. And, I fear that the full 
extent of the unfulfilled promises of job creation and economic 
stimulus are just beginning to surface.
  Under the circumstances, as policymakers one of the first questions 
we should ask when evaluating any bill that comes before this House is 
``Will enacting the policies embodied by this bill potentially 
jeopardize American jobs?'' If the answer is yes, in my opinion, we 
have a responsibility to the American people to reject that bill. 
Unfortunately, it appears that my colleagues on the other side of the 
aisle take a different view. Rather than seeking to preserve and grow 
private sector jobs they seem determined to kill those jobs in favor of 
the Federal government assuming control over a larger and larger 
percentage of our economy.
  I would like to briefly discuss one example of the Majority's drive 
to replace private sector jobs with government jobs that, if enacted 
into law, will potentially put thousands of Hoosiers out of work. 
Recently, the House of Representative voted on the ``Student Aid and 
Fiscal Responsibility Act of 2009'', H.R. 3221, which sets the stage 
for the elimination of the Federal Family Education Loan, FFEL, program 
leaving parents, schools, and students with no choice for obtaining 
student loans except for the Federal government's Direct Lending 
Program. Supporters of the proposal contend that consolidating student 
loans under the Federal umbrella will actually save the Federal 
government money. They cite as evidence a Congressional Budget Office, 
CBO, estimate that nationalizing the whole Federal student loan program 
would save nearly $90 billion in direct spending over ten years. 
However, what they fail to mention is that the CBO also found that 
President Obama's plan to reform the Pell Grant program would increase 
direct spending by $293 billion over that same 10-year period. In other 
words, any potential savings to the taxpayer, real or not, from 
federalizing the student loan industry will actually be spent many 
times over. More importantly, whether the plan to federalize the 
student loan industry is good fiscal policy or not fails to take into 
account the real world question of jobs.
  Moving to a one hundred percent Direct Lending system would kill jobs 
in the private student loan industry. Make no mistake about it, it is 
not a question of if jobs will be lost; it is a question of how many 
jobs will be lost. The FFEL program supports more than 30,000 private 
sector jobs nationwide. In Indiana alone about 2,300 jobs are in the 
FFEL industry, and in Indiana's 5th Congressional District, killing off 
the FFEL program could result in the loss of more than 1,500 jobs.
  As you can imagine, the possibility has many of my constituents 
worried, and for good reason. In Fishers, Indiana, Sallie Mae--the 
Nation's largest private student loan lender--operates a Loan Service 
and Data Center and employs 647 Hamilton County residents. The Hamilton 
County Council--which represents the people of Fishers--is following 
this issue closely and has taken note of what the end of the FFEL 
program could mean for hundreds of its residents. I would like to ask 
unanimous consent to place into the Congressional Record a copy of the 
Hamilton County Council resolution encouraging the preservation of 
Indiana jobs, which was passed on November 4.

                       Resolution No. 11-04-09-02

       Whereas, the Congress of the United States is debating the 
     President's plan to make college more affordable; and,
       Whereas, among many issues involved in said debate is the 
     issue of eliminating private student lenders; and,
       Whereas, Sallie Mae and its 8,500 employees across the 
     country including 2,300 in Indiana are ``at risk'' in said 
     debate; and,

[[Page E2765]]

       Whereas, Sallie Mae employees 647 Hamilton County Residents 
     and,
       Whereas, Sallie Mae, its employees and leadership have been 
     significant supporters of the community in many ways; and,
       Whereas, the Hamilton County Council on behalf of all 
     residents of Hamilton County is supportive of responsible 
     actions by the Congress which will recognize appropriate cost 
     saving measures while protecting valuable jobs for Hoosier 
     families; and,
       Whereas, Sallie Mae and a broad coalition representing 
     various stakeholders in the student loan community have 
     proposed a responsible alternative which should be seriously 
     considered and adopted as the best way of achieving the goals 
     and objectives of both the President and Congress, without 
     sacrificing tens of thousands of jobs across the country and 
     here In Indiana: Now, therefore, be it
       Resolved by the Hamilton County Council, meeting in regular 
     session, as follows:
       Section 1. That the Congress of the United States is hereby 
     encouraged to adopt a student loan reform proposal that makes 
     college more affordable and achieves significant taxpayer 
     savings while also protecting Hoosier jobs and our families 
     and communities.
       Section 2. That a copy of this Resolution be provided to 
     all members of the Indiana Congressional delegation forthwith 
     as an expression of the concern and desires of the entire 
     County of Hamilton, Indiana.
       Section 3. This Resolution shall be in full force and 
     effect from and upon its adoption.
       All of which is resolved this 4th day of November, 2009.
       Hamilton County Council.

  I support the FFEL program and believe that H.R. 3221 will lead to 
its extinction, which is why I voted against the bill. Additionally, on 
two separate occasions during this Congress I have proposed amendments 
to help preserve the FFEL program, and the jobs associated with the 
program. Disappointedly, the Majority has used their control of the 
House Rules Committee to kill those amendments and prevent the full 
House of Representatives from debating and voting to protect these 
jobs.
  I have not given up the fight to preserve the FFEL program or the 
jobs associated with it though. Could improvements be made to the 
program? Sure, but there is more to lose than gain by eliminating the 
program in its entirety. Since 1965, the FFEL program has provided 
access to higher education for tens of millions of Americans, and it 
has done so with private capital and private labor. I believe we have a 
responsibility to the American people to preserve the FFEL program and 
the good-paying jobs associated with the program.

                          ____________________