Video archive of the US Congress

House Proceeding on Jul 24th, 2009 :: 1:05:30 to 1:08:45
Total video length: 1 hours 48 minutes Stream Tools: Stream Overview | Edit Time

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Dan Burton

1:05:26 to 1:05:47( Edit History Discussion )

Dan Burton: did but i found out now it's run by chair, at least i know that answer today. mr. speaker, i'd like to yield three minutes to the gentleman from indianapolis, indiana, the distinguished gentleman, mr. burton. mr. burton: i thank my friend for yielding. in 1965 this congress passed

Dan Burton

1:05:30 to 1:08:45( Edit History Discussion )
Speech By: Dan Burton

Dan Burton

1:05:48 to 1:06:08( Edit History Discussion )

Dan Burton: the federal family education loan program act, and it was designed to provide private funding -- private funds for college students' loans. and since 1965 this organization has provided over 200 million loans to college students with private funds,

Dan Burton

1:06:09 to 1:06:31( Edit History Discussion )

Dan Burton: and they've delivered about $800 billion in loans. the problem that we have is unemployment right now. it's 9.5% nationwide, and in indiana, my state, it's 10.7%. and we have 35,000 jobs

Dan Burton

1:06:32 to 1:06:52( Edit History Discussion )

Dan Burton: nationwide that work for this education program funded by private funds, and 2,400 people in indiana -- now, mr. carter and i, congressman carter and i had anmendment that would guarantee the survivability of this program because it has helped so many college students get loans, and it's done it without the taxpayers' dollars. and what the democrats are

Dan Burton

1:06:53 to 1:07:13( Edit History Discussion )

Dan Burton: trying to do is they're trying to have a direct loan program take the place of the privately funded program we now have, and that the government and the taxpayers will be paying for that loan. it's one more attempt for them to put everything that we do day and night under the control of the federal government.

Dan Burton

1:07:14 to 1:07:34( Edit History Discussion )

Dan Burton: now, why in the world when we have a program that's providing millions of loans to college students without taxpayer dollars funding it, why would we want to change to a direct loan program and have the taxpayers underwrite it, especially at a time when the economy's going down the tubes and we're spending trillions of dollars on many programs we don't even need?

Dan Burton

1:07:35 to 1:07:58( Edit History Discussion )

Dan Burton: the automobile industry, the banking and financial indury, the health care industry, energy, all of those things. and now they're going afte education by trying to come up with a direct loan program that the taxpayers will have to pay for and the private funding that's now being used will now be utilized. it will cost somewhere between

Dan Burton

1:07:59 to 1:08:20( Edit History Discussion )

Dan Burton: $-- 30,000 and 35,000 jobs across the country. now, they want us to have more jobs. here's a chance to preserve 30,000 to 35,000 jobs by not having the government step in and take over the financing of college loans for students, and yet you want to have the government take over, the department of education take

Dan Burton

1:08:21 to 1:08:41( Edit History Discussion )

Dan Burton: over, take it away from the private sector and independent funding so we would have more government control and cost another 35,000 jobs we're going to put in the unemployment lines. it makes no sense to me. my colleagues, i'm very disappointed you did not allow this under the rule. we should have fully debated this on the floor.

Dan Burton

1:08:42 to 1:08:45( Edit History Discussion )

Dan Burton: i don't think you want to debate it because you don't want the american people to see

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