House Proceeding on Sep 24th, 2008 :: 0:43:22 to 0:48:15
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0:37:10 to 0:43:22( Edit History Discussion )
Speech By: Maxine Waters

0:43:11 to 0:43:22( Edit History Discussion )

Maxine Waters: included in the continuing appropriation. had i known, i would have voted no. the speaker pro tempore: without objection, the gentlewoman's statement will appear in the record. re for what

0:43:22 to 0:43:33( Edit History Discussion )

Patrick Murphy: purpose does the gentleman from pennsylvania rise? mr. murphy: i ask unanimous consent to speak out of turn and address the house for five minutes. the speaker pro tempore: without objection.

0:43:22 to 0:48:15( Edit History Discussion )
Speech By: Patrick Murphy

0:43:33 to 0:43:46( Edit History Discussion )

Patrick Murphy: mr. murphy: while congress and our nation is concerned about the crisis in our financial markets, it is importa that we keep our ear to what the people of this nation are saying. they're hearing

0:43:46 to 0:43:59( Edit History Discussion )

Patrick Murphy: words about liquidity, about the markets, about margins. they are hearing concerns about mortgage-backed securities. what they want to hear is the talk about three basic principles to get

0:43:59 to 0:44:12( Edit History Discussion )

Patrick Murphy: this nation's economy back on track. first and foremost is to protect the people, their nest egg, their pensions, their homes. it is more important that we look at establishing that as a base of

0:44:12 to 0:44:22( Edit History Discussion )

Patrick Murphy: what we should be working on and not simply talking about wall street and protecting millionaires. it's what people have in their own funds and accounts to make sure we are attending to. second

0:44:22 to 0:44:33( Edit History Discussion )

Patrick Murphy: is the issue of accountability. most wor kers, most employers, mp most executives are good people, honest, decent, god-fearing ethical people who are trying to do the right thing whatever their

0:44:33 to 0:44:46( Edit History Discussion )

Patrick Murphy: job is, but there are those who bend the rules, break the rules, ignore the rules or create their own rules. this is what has gotten this nation into this mess and there has to be strong

0:44:46 to 0:44:58( Edit History Discussion )

Patrick Murphy: accountability to investigate and prosecute anyone who bankrupted their firms on wall street or on main street and then expect the taxpayers to pay for it. third, it is important that congress

0:44:58 to 0:45:09( Edit History Discussion )

Patrick Murphy: in the future rsseview the regulations carefully to close loopholes and prevent further mismanagement and misconduct. but there is a fourth principle, which we have to make sure we in congress take

0:45:09 to 0:45:24( Edit History Discussion )

Patrick Murphy: care of, and that has to do with our economy. over the last couple of years, many times this congress, we have debated and discussed issues where we could be boosting our economy. one has to do

0:45:24 to 0:45:39( Edit History Discussion )

Patrick Murphy: with health care. i have spoken many times about the $400 billion waste in our health care system each year. money that people pay out of their pockets each month to pay for health care. we are

0:45:39 to 0:45:55( Edit History Discussion )

Patrick Murphy: spending money we don't have to try to protect our onomy, where we can save money. in the health care we waste $50 billion on health care acquired infections. we could save that money. unfortunately,

0:45:55 to 0:46:10( Edit History Discussion )

Patrick Murphy: congress hasn't acted. we could save money one using electronic records and we have far to go. but another area where our economy can get going is to stop spending $700 billion a year on energy

0:46:10 to 0:46:24( Edit History Discussion )

Patrick Murphy: that we are purchasing oil and gas outside of our nation. much of that $700 billion is to go to opec where it buys its palaces and hotels and buy up our debt. we're going to owe them on our

0:46:24 to 0:46:41( Edit History Discussion )

Patrick Murphy: national debt for several years, because they buy that up and recognize also what opec is doing is not only -- not only owning our economy, they are building weapons, threatening our national

0:46:41 to 0:46:54( Edit History Discussion )

Patrick Murphy: security and our economic security. oddly enough, secretary palson is asking us for $700 billion to help wall street get back on our feet. you know, if we drilled on the outer continental shelf

0:46:54 to 0:47:11( Edit History Discussion )

Patrick Murphy: and went for the colorado shale oil, if we looked to the north slope othf alaska or drilling in the outer continen tal shelf alone would yield $2.6 trillion in federal income, $2.6 trillion

0:47:11 to 0:47:22( Edit History Discussion )

Patrick Murphy: but we continue to set that off limits. that does not include how much we could add in the federal income if we went to oil shale in col orado and alaska. we put together a bill, congressman

0:47:22 to 0:47:32( Edit History Discussion )

Patrick Murphy: abercrombie and congressma n peterson which congress has ignored. it's not enough to say we'll ay open by default these areas for oil drilling, becausl e the oil companies know they won't invest

0:47:32 to 0:47:42( Edit History Discussion )

Patrick Murphy: in that because they expect congress to pull out the rug from under them. we have to get definitive action and get our economy back on our feet. follow these principles, protect the people

0:47:42 to 0:47:55( Edit History Discussion )

Patrick Murphy: and their money, have accountability to those who did wrong and work on reviewing the rules and regulations. but above all, i hope that congress in these final days of this session does not continue

0:47:55 to 0:48:15( Edit History Discussion )

Patrick Murphy: to ignore how we could be boosting our economy and change it from the largest bust in our history to largest boom in our economy. that's what we can do. and that's what i still hold out some small

0:48:15 to 0:48:24( Edit History Discussion )

Frank Jr.Pallone: ray of hope that r nation can do. with that, i yield back my time. . the speaker pro tempore: mr. moran. mr. kagen. mr. burton. mr. defazio. mr. holt. mr. smith. mr. sherman. for what purpose

0:48:15 to 0:51:59( Edit History Discussion )
Speech By: Frank Jr.Pallone