Over the break, Mike took a Congressional delegation trip to Iraq where he had the opportunity to visit with troops from all over Texas. With video camera in tow, he got some great footage of soldiers fighting in Baghdad who wanted to send holiday greetings home to their friends and family. Click here to watch them all.

Wall Street Journal
By DON BOUDREAUX
The spectacle of corporate magnates from Detroit pleading to be on Uncle Sam’s dole is a sordid one. So why aren’t more Americans appalled? One reason is widespread misunderstanding — much of it sowed by these auto makers — about the size of their firms. The Big Three, we are told, are “too big to be allowed to fail.”

This myth begins with the idea that GM, Ford and Chrysler are so huge that if they go belly-up, the livelihoods of a disproportionately large number of workers and suppliers would be affected. At once, the market for their services and products would close. Therefore, the argument concludes, government must prevent any such failures.

Nonsense. Read the rest of this entry »

Mike discusses end of 110th Congress and the Auto bailout legislation that was on the House floor this week.

 Autobailout2 [3:25m]: Play Now | Play in Popup | Download

Despite the protests by me and many of my Republican colleagues, it appears as if the Democratic leadership of both Houses of Congress moved one step closer today to committing the American taxpayer to substantial role in restructuring the three domestic automobile manufacturers. I am opposed to this legislation in its current form.

Our legal system already provides an entire chapter of law devoted to how to reorganize struggling firms – Chapter 11 of the United State Bankruptcy Code. A federal bankruptcy court has the expertise and structures already in place to ensure that the reorganization occurs in an orderly and equitable manner, free from the political interference that would surely be exercised by Congress or a politically appointed overseer.

With the millions of individuals connected to the domestic automobile industry, there is no fix to Detroit’s problems that will shield everyone from harm. But, given the dire picture that the Big Three have painted, it is clear to me that any delay in seeking relief in the form of a bankruptcy will only further imperil the companies and everyone dependent on them. Every day that goes by reduces the options available to the management teams to reorganize. Buying them a four or six month reprieve simply delays the extraordinarily painful choices that must be made if our domestic automobile manufacturers are going to continue to compete in a global industry.

Mike discusses the post-election session week and the auto-bailout.

 Autobailout [3:48m]: Play Now | Play in Popup | Download

Today is a proud day for the United States. November 11th is a day of reflection; a day for each and every one of us to express our appreciation for the over 25 million Americans that have sacrificed to serve our nation.

Throughout our nation’s history, we have been blessed to have soldiers, sailors, marines and airmen willing and ready to answer the call of duty. Regardless of the hardships they endured or the personal sacrifices they had to make, these men and women selflessly answered the call to arms. Whether they served during war or peacetime, on active duty or in the Reserves, on the home front or abroad, these patriots all deserve our respect and gratitude. The pride and perseverance of our men and women in uniform is reflected in every generation of veterans, from the Revolutionary War to the current service members engaged in fighting in the Global War against Islamic Jihadists.

So today, in addition to thanking our veterans for their service, I call upon every American to express their respect and gratitude to our veterans and current members of the armed forces. Please give thanks for their commitment and their sacrifices, and for the protection of freedom that we all enjoy. Above all, we must give thanks that our nation has brave patriots that are willing to answer the call to duty. Read the rest of this entry »

by Ruth Campbell
Midland Reporter-Telegram
Saturday, November 8, 2008

U.S. Rep. Mike Conaway has announced that Midland Independent School District has received a $1.29 million federal grant for its Head Start program. This is the program’s yearly funding.

“As a former member of the Midland Independent School District Board of Trustees, I understand the difficulties our educators face in providing the best quality education to our children,” Conaway said in a news release. “I am a strong supporter of grant programs like the Head Start program. They have a proven track record in District 11, and I will continue to work to see that they remain intact.

“The health and happiness of our children is essential to the future of our nation. Head Start programs provide invaluable developmental and educational services to disadvantaged children and families and help promote school readiness and future academic success. The funding for these programs benefits the families involved and the community as a whole and contributes to a brighter future for our nation’s children,” the release said. Read the rest of this entry »

Hello, my name is August Higgins and I am a Senior Political Science major at Howard Payne University. Over the past semester, I had the great privilege to intern at Congressman Mike Conaway’s Regional Office in Brownwood, Texas. Mandy Locker, the Regional Director, has taught me so much since I started in January. I always assumed that congressmen were busy people, but I had no idea they were involved in so many things at once! I came to realize very quickly all of the things that Congressman Conaway and his staff (i.e. “Team Conaway”) do for the people of District 11 in the great state of Texas. I learned so many things in my intern experience that can only be learned with first-hand experience in a congressional office, and I greatly appreciate the opportunities that this internship gave to me. Read the rest of this entry »

Hi, my name is Jessica Schneider and I hail from the glorious “Tall City” and home of President George W. Bush, Midland, Texas. I am currently in my third year of undergrad at Texas Tech University where I am majoring in Honors Arts and Letters with a minor in Spanish. I plan on graduating in May 2010, and then attending law school.

I started my internship in late August and have almost been here two months now. The staff was very warm and welcoming, and never hesitated to give me advice and pointers, or even just simple directions! A little over four weeks ago I was able to observe the onset of economic crisis in our country and the subsequent legislative action that took place. I have also had the privilege of attending briefings and hearings, being on the cusp of breaking news and legislation.

With the presidential elections coming up soon, this is a very exciting time to be in DC. I look forward to returning to Lubbock with this experience under my belt, and discovering what the future holds in store. Who knows, I may end up back on Capitol Hill someday!

I wanted to share an excellent article that recently appeared in The Economist with you, titled “Blocked pipes.” The article describes the turmoil in a specific lending market, the money market, which is used to raise short term cash for financial institutions and businesses. It presents an excellent summary of the fears expressed by Secretary Paulson and Chairman Bernanke about the successive chain of events that will come to pass if money market stop working efficiently and individuals and institutions continue hoarding their cash instead of investing it.

The article summarizes what illiquidity in credit markets mean to individuals by stating “…the rates on loans paid by many consumers (adjustable-rate mortgages, for example) and companies are set with reference to the money markets. Higher rates for banks mean higher rates for everyone. Second, if the markets are blocked for more than a week some companies may find it hard to get any finance at any price. That could mean more bankruptcies and job losses. Third, more banks could go bust if the blockage continues, making investors even more risk-averse. The downward spiral would take another turn. “

Our current economic situation is not desperate, but it is urgent, and it is most definitely not simply a Wall Street problem.- Mike