Gen Equity Meeting with Congressman Campbell (GNOC)

March 30, 2010, 11:00am

Summary:

As the U.S. deficit continues to increase and with the new Health Care Bill recently passed, the Gen Equity Committee hosted Congressman John Campbell on Tuesday, March 30 for an insightful discussion on the latest in Washington, with particular emphasis on financial regulation and the new Health Care bill. Campbell is a member of the House Committee on Financial Services and House Committee on the Budget.

Detail:

"Our debt and deficit is our greatest threat right now," said Campbell. He explained that there are problems with the economic growth because our GDP should never drop below 5%. Campbell also revealed that the Health Care Bill decision relied on "38 Democrats to do the right thing". The Bill was a "long, awful process" and was eventually bought with student loans eligibility in North Dakota. Dave Luzuriaga, our Chairman of Gen Equity, raised the question of when the new Health Bill will be transparent with details to the public. Campbell explained that the new Health Bill will not be fazed until 2018 when it is completely revealed. The public will be able to see drips over time and corrections will be made along the way.

Congressman Campbell also touched base on earmarks and the Money Market Fund. The earmarks fight was thought to be part of the problem since there are now 15 votes challenging 150 votes which is stripping earmarks. He warned that there will be a major crisis before 2020 if we do not deal with Obama's spending binges.

Special thanks to Congressman Campbell for an informative discussion, as well as GN Member Jared Pobre for graciously hosting us.