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When the talk to about someone dressed.
The stories have a lot of attention it's it's sort of shocking to a lot of people should we be gambling tax Payer money on Green energy companies.
Well what the federal government should not do is be in the business of picking winners and losers.
There's a lot of a new ideas about the energy of the future.
There are provisions in the tax code that allow for.
Extra credits for research and development.
-- but for the federal government to be out there picking.
No one company over another one type of energy source over another I think it's wrong.
And I think you you gonna see of these.
The extra credits for ethanol as an example.
Are going to expire at the end of this year.
Goes lot of people and other industries other forms of energy think that this is unfair -- -- I think that new energy sources are gonna have to stand -- -- -- Alford grain energy.
I think it is the wave of the future.
But I think what's happened here is a fellow government's gone beyond.
The traditional role fostering more research and development.
May have actually picked companies and which to of this major sums of money.
And that looks like we're about to lose major jobs -- month.
About half a billion dollars in fact and there's another ten billion about read about to go out the door.
Should that program be stopped because of so lenders failure.
I think the members of the energy and commerce committee of -- by the chairman Fred Upton are taking a very close look at this and working with the administration.
To determine whether any more of these loan guarantees are appropriate.
I think there -- three investigations and to slander right now should any of these reach into the White House big questions about.
A donor named George Kaiser visiting the White House right before the guarantees were -- There are a lot of there's a lot of in your mind about there -- a lot of rumor.
I do believe that the investigation by the congress and the administration.
-- we'll get to the bottom of it the sooner we get to the bottom of it the better off we'll be.
Are you worried about a double the perception.
I am been worried about.
About our economy.
It's the -- and along get a little better.
When you look at -- the debt problems in Europe.
It does pose a direct threat to to us as well.
United States has a lot of exposure to European that.
And when you look at that what's been happening in Greece -- inability.
To solve their spending problem.
It ought to send a real signal.
To the American people that the best thing we can do.
To help our economy right now is to get our debt under control.
You know this super committee -- -- charged with come in above one and a half trillion dollars with a deficit reduction is in fact a good jobs commit.
Employers and investors from around the country look at this gigantic debt that we have in -- like a wet blanket being thrown over our economy.
-- -- we were serious about dealing with our debt problem.
I believe -- investors and importers in the United States.
Would feel much more comfortable about reinvesting in their business.
The Treasury Secretary.
I was in Europe and criticized mightily for telling European governments what to do have we lost standing in the world because of the way we've handled our to.
Well I don't think through that we're still -- the safest -- in the world.
We're still the safest place to invest in the world.
But we won't be.
-- not willing to tackle our spending growth.
We've made promises to ourselves of our kids or grandkids can afford.
I have time for us to do what we know we have to do and frankly we know we know the issues we've got to deal with.
Let's go to a -- president affordable -- Mr.
Forget about the next election let's just do the right thing for the country we can do together.
But what we're seeing -- out of the president's so called deficit reduction package.
Is more of the same its class warfare.
Not serious about dealing with the real drivers of our -- And that's the major entitlement programs.
With 101000 baby boomers retiring every day.
It's time for us to get serious about ensuring that these programs are gonna be there for.
Speaker Boehner thanks for being with us.