Triggers and Critters: I sometimes offer amendments on bills that come to the House floor from committees other than the those on which I serve. Such was the case last week when the Agriculture Appropriations bill came to the floor. Various other people offered amendments to reduce the spending in the bill by 5%, limit or eliminate subsidies, and otherwise save money. As you might suspect, I supported all such money-saving amendments. Unfortunately, most of them lost.

The amendment I offered reduced spending by $11 million, which is not much in an appropriations bill that proposed to spend $17.25 billion next year. The amendment would eliminate a program whereby the U.S. Department of Agriculture kills predators (wolves, coyotes and such) that threaten privately-owned livestock. The government kills these animals using methods such as shooting them from aircraft and putting out bait with cyanide capsules that explode in the animal’s face when it goes for the bait.

I thought there were a lot of good reasons to support this amendment:

1. It saves $11 million, all of which will be borrowed.

2. Why is it a taxpayer… Read More

About 10 days ago, I wrote you all about the Housing Finance Reform Bill (H.R. 1859) that I have written and am sponsoring along with Gary Peters (D-MI). I mentioned in that missive that this is an important bill that will consume a great deal of my time and energy over the coming months. Based on the numerous responses from all of you, you seem to agree. I appreciate all those who responded offering your support and assistance in moving this bill forward. I will be separately contacting those of you who did soon.

Reading your responses last week, I noticed there were questions on this fairly complex issue that came up several times. So, I have decided to include the “most asked” questions into this edition and am answering them to give you an even better idea of what this bill is, how it works and why I wrote it:

1. John, isn’t your bill just recreating the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac again? It looks like you are just going to have 5 of them instead of two.

No. The whole point of this bill is to kill the old GSE system and replace it with something completely different that will provide… Read More

Housing Finance Reform: Housing is an enormous sector of our economy. We never go into recession without housing leading us in. And, we never come out without housing recovering. Arguably, part of the reason that our current economic recovery is so tepid is because the housing recovery is very weak. When you consider the construction of new houses, the sales of existing houses, the construction and remodel and renting of apartments, the home improvement industry and so forth, it represents a tremendous amount of employment, economic activity and is fundamental to a standard of living. And, none of it moves without adequate financing. Hardly anyone buys, builds or improves a house or apartment paying cash. Pretty much everyone needs to borrow some money.

The method under which most people borrowed that money during the last 70 years was through the assistance of the “government sponsored enterprises”, Fannie Mae and Freddie Mac. And, it worked pretty well for most of those 70 years. But, as we all well know, both enterprises failed rather spectacularly in 2008 and were a major component of the economic crash that year. The… Read More