4:15 PM EDT
Gary G. Miller, R-CA 42nd

Mr. GARY G. MILLER of California. If you want to talk about attractive nuisances, let's talk about next April when people have to pay their taxes. You're going to find out that government has become an incredible attractive nuisance to most people.

We're talking about middle class is shrinking, yeah, we're taxing them to death, and we're not only taxing them to death, but we're spending money on programs like this that is not an investment but is just a giveaway of tax dollars. Now we say we can't find the data to support that we bought 100,000 properties, but let's say we bought 100,000 properties. Somebody has the money, the $6 billion going on $7 billion, that we've given them. That's about 20,000 homes per State. Now you break that

down to high-impact counties, compared to the millions of homes out there that are in foreclosure, these 100,000 homes have already been abandoned or foreclosed. I will say abandoned because the other side of the aisle wants to talk about abandoned homes, but they're homes that somebody does not live in anymore, and the people who lost them, yes, they lost them.

And how many jobs were created? Nobody can definitively give me a number because nobody knows for sure how much money was spent on jobs. Now, we can say we spent $6 billion, but understand clearly, we bought properties with the bulk of that money. Now, how much money did we spend after the local groups, the nonprofits took 17 percent off the top for overhead and expenses, how much did we spend for jobs? Now, if we had taken that $6 billion, going on $7 billion, and invested it in residential

construction, just $1 billion, as I said, in residential construction creates $5.5 million in wages. It creates $1.98 billion in spending on goods and services as a result of the new earnings and profits that were created through that.

Now, those goods and services, those companies employ workers. The wages are paid to workers. So you can definitively come up with a number based on a $1 billion investment that we would generate in the economy. Now, we spent $6 billion, and if we were able to create what $1 billion would have created in private residential construction, we're probably lucky, but the problem with that is investing in residential construction is different than giving $6 billion away of the taxpayers' money.

Now, the people listening to this debate understand, when you write your check to the Federal Government next month, we just gave away $6 billion of it, we're going to give away another billion. Now, that infuriates me. I would assume it infuriates you. You tell me, middle class America, what this does to help you? I told you the amounts earlier of how much you can earn to buy a house or how little you might have to pay for the house, depending on whoever bought the house what they want to charge

and who they want to sell it to.

So the basis I would argue here is the amendment does nothing. I oppose it.

I reserve the balance of my time.