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Mon October 12, 2009
Bunning Remarks on GSE's
By Dan Conti
Washington D.C. – Kentucky's junior senator says it may be laudable for the federal government to help people buy a house, but that doesn't mean it's financially sound. Republican Jim Bunning says congress helped create the country's home mortgage crisis by pushing government-sponsored enterprises like Freddie Mac and Fannie Mae to make loans to people who really couldn't afford a home. Now, he says, taxpayers are shouldered with an ever-increasing national debt.
"I just want you to realize that we're at 12 trillion and counting 12 trillion and counting. Now we're going to be asked to increase the debt ceiling very shortly, and there comes a time when my 40 grand kids are going to get tired of paying for our excesses."
Bunning made his remarks last Thursday at a hearing on options for restructuring government sponsored enterprises.