Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Lucas Launches Weekly Radio Address
Tamara Hinton (202) 225-0184
WASHINGTON – Today, Ranking Member Frank Lucas launched his weekly radio address called The Ag Minute. Each week, Rep. Lucas will discuss a timely topic that affects farmers, ranchers, and rural Americans. This week’s address tackles the spending crisis in Washington, D.C. Periodically, The Ag Minute will feature a guest host from the Agriculture Committee Republican roster. The radio address will be released every Tuesday.
“This is a great way to reach out to the vast network of radio outlets all across rural America, and ultimately stay in touch with our constituents in the countryside. I hope this weekly radio address will be a useful way for rural Americans to stay informed with the latest news from Washington,” said Ranking Member Frank Lucas.
Click here to listen to The Ag Minute. The transcript is below.
“During my 18 town hall meetings in August, I quickly learned that my constituents in the countryside are fired up about the direction of our country.
“They’re concerned about stimulus packages and bailouts that we can’t afford.
“And, they’re concerned about driving up budget deficits that threaten our long term economic health.
“They have good reason to be concerned.
“The Obama administration promised that the $787 billion stimulus bill would boost our economy and create jobs immediately. Instead, 2.8 million more Americans have lost their jobs since it became law. And, our budget deficit has reached nearly $1.5 trillion.
“More alarming is the waste associated with taxpayers’ money.
“One recent report estimates that seven percent of government spending is lost to waste, fraud or abuse. That’s roughly $55 billion of the stimulus package.
“Many of us voted against the bill because we know we can’t borrow and spend our way back to a healthy economy. And yet, there doesn’t seem to be an end to the number of spending proposals out there—whether it’s bailouts or health care plans—it’s all spending, all the time.
“The bottom line: We have become entirely too comfortable talking about trillion dollar deficits without thinking about what it means for the future of our country. It must stop.”