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"Welcome everyone to today's Full Committee mark up of the fiscal year 2012 Financial Services and General Government bill.

"The bill before us today matches the Subcommittee's discretionary allocation of $19.9 billion. This allocation is nine percent less than fiscal year 2011, 18 percent less than fiscal year 2010, and 22.5 percent less than the President's request. This reduction resulted in some very tough decisions, but they are necessary to reduce the Federal government's unsustainable level of spending.