Speaker: Dodd-Frank Is 'Punishment'
WASHINGTON-Speaker of the House John Boehner told credit unions they are being punished for the financial crisis of 2008-09, even though they had nothing to do with it. Boehner told GAC the punishment is coming in the form of the Dodd-Frank Act. "It puts in place rules and regulation limiting your ability to provide credit to your members," he said.
Meanwhile, Boehner, the first Speaker of the House to appear at GAC since Newt Gingrich in the late 1990s, went on to say that job creation and reducing the size of the federal government's $1.6-trillion budget remain the critical issues on his agenda. He noted the U.S. borrows 40 cents of every dollar it spends. "I think all of us in America owe it to ourselves to get our arms around this," Boehner told GAC, saying answers lie in "common sense."
"The bigger government gets, the smaller the people get," Boehner said. "The more government takes from people, the less they have to invest in their families, their communities and themselves."