January 7, 2009 CONGRESSIONAL RECORD — SENATE S175 

application. Additionally, students receive card solicitations through mail 

to their on-campus mailbox or at their 

home address even before they arrive 

at the university in the fall. These aggressive marketing strategies have 

worked and now close to 96 percent of 

college graduates hold a credit card, 

compared to 1994, when only half had 

one. The average college student graduates with close to $3,000 in credit card 

debt, double the amount in 1994. In 

some very extreme cases, students are 

leaving school with multiple credit 

cards and debts amounting upwards of 

$10,000. 

Credit card debt can make it harder 

for graduates to rent an apartment, receive a car loan, or obtain a job after 

college. Due to the lack of financial 

education and complicated terms and 

conditions, many students find themselves in over their heads. The Student 

Credit Card Protection Act will help 

students avoid large credit card debt 

while forcing issuers to make more responsible loans. The bill requires credit 

card issuers to verify annual income of 

a full-time student and then extends a 

line of credit based on the income. For 

a student without a verifiable income, 

a parent, legal guardian or spouse must 

cosign the credit card and approve any 

increase in the credit limit. These simple underwriting requirements will 

make it more difficult for credit card 

companies to approve loans that are 

beyond a students’ ability to repay and 

return to a more responsible lending 

policy. 

It is imperative that we help minimize the amount of debt young consumers incur before entering into the 

workforce. On average, a student with 

a bachelors degree will leave school 

with $18,000 in student loan debt. Paying for housing, health-care and student loans already place a financial 

strain on a recent college graduate. A 

huge credit card payment on top of all 

of the other bills can lead to financial 

ruin before young people even have a 

chance to get on their feet. This bill 

gives students the protection they deserve from irresponsible lending that 

can trap them in years of crushing debt 

repayment. 

The current economic situation has 

exposed many bad habits of both the financial industry and the average consumer. The savings rate of our country 

has significantly declined over the past 

decade as consumer spending and borrowing steadily increased. While it is 

necessary for Congress to implement 

policies which will allow Americans to 

save more of their income, it is equally 

important for consumers to put into 

practice controlled and prudent spending habits. 

SUBMITTED RESOLUTIONS 

SENATE RESOLUTION 9—COMMEMORATING 90 YEARS OF U.S.- 

POLISH DIPLOMATIC RELATIONS, 

DURING WHICH POLAND HAS 

PROVEN TO BE AN EXCEPTIONALLY STRONG PARTNER TO THE 

UNITED STATES IN ADVANCING 

FREEDOM AROUND THE WORLD 

Mr. LUGAR (for himself, Mr. 

VOINOVICH, and Ms. MIKULSKI) submitted the following resolution; which 

was referred to the Committee on Foreign Relations: 

S. RES. 9 

Whereas the United States established diplomatic relations with the newly-formed 

Polish Republic in April 1919; 

Whereas the year 2009 marks the 20th anniversary of democracy in Poland, as well as 

the 20th anniversary of the fall of communism in Poland; 

Whereas the year 2009 marks the 10th anniversary of Poland’s accession to the North 

Atlantic Treaty Organization (NATO); 

Whereas the year 2009 marks the 50th anniversary of the Fulbright Educational Exchange Program in Poland; 

Whereas Poland has overcome a legacy of 

foreign occupation and period of communist 

rule to emerge as a free and democratic nation; 

Whereas Poland has strongly supported the 

United States diplomatically and militarily, 

as well as supporting United States-led efforts in combating global terrorism, and has 

contributed troops to the coalitions led by 

the United States in both Afghanistan and 

Iraq; and 

Whereas Poland has cooperated closely 

with the United States on issues such as democratization, nuclear proliferation, human 

rights, regional cooperation in Eastern Europe, and reform of the United Nations: Now, 

therefore, be it 

Resolved, That the Senate— 

(1) celebrates the 90th anniversary of U.S.- 

Polish diplomatic relations; 

(2) congratulates the Polish people on their 

great accomplishments as a free democracy; 

and 

(3) expresses appreciation for Poland’s 

steadfast partnership with the United 

States. 

Mr. LUGAR. Mr. President, I rise 

today to offer a resolution commemorating several remarkable milestones 

in the U.S.-Poland partnership. This 

year marks the 90th anniversary of diplomatic relations between the United 

States and Poland, the 50th anniversary of the Fulbright Exchange Program with Poland, and the 10th anniversary of Poland’s accession to NATO. 

The U.S.-Polish friendship formally 

began in 1919 and has endured through 

two world wars, the Cold War, and the 

emergence of a vibrant democracy 

after the fall of communism. This partnership has been bolstered by two unqualified successes of U.S. diplomacy. 

The Fulbright Exchange Program has 

nurtured the pursuit of higher learning 

for Polish and American students, professors, and researchers, for many decades offering Poles a rare window into 

the opportunities afforded by democratic society. Such exchanges invigorated intellectual thought and creativity in Poland, Eastern Europe, and 

the West and helped to hasten the dissolution of the Warsaw Pact. 

Poland exhibited great energy in undertaking economic, political, and 

military reforms, and the NATO alliance was strengthened by Polish membership in 1999. Poland today remains 

the closest of our allies, having contributed great wherewithal to combating global terrorism and bringing 

stability to Afghanistan and Iraq. In 

recognition of the profound successes 

of the U.S.-Polish alliance, I am 

pleased to introduce this resolution 

congratulating the Polish people on 

their great accomplishments as a free 

democracy and expressing our country’s appreciation for Poland’s steadfast partnership. 

I am hopeful that my colleagues will 

join me in supporting this important 

legislation. 

f 

PRIVILEGES OF THE FLOOR 

Ms. KLOBUCHAR. I ask unanimous 

consent that John Branscome, a 

detailee in my office, be granted the 

privileges of the floor for the duration 

of today’s session. 

The PRESIDING OFFICER. Without 

objection, it is so ordered. 

f 

UNANIMOUS CONSENT AGREEMENT—NOMINATIONS TO OFFICE 

OF INSPECTOR GENERAL 

Mr. REID. Mr. President, as in executive session, I ask unanimous consent 

that the nominations to the Office of 

Inspector General, except the Office of 

Inspector General of the Central Intelligence Agency, be referred in each 

case to the committee having primary 

jurisdiction over the department, agency, or entity and, if and when reported 

in each case, then to the Committee on 

Homeland Security and Governmental 

Affairs for not to exceed 20 calendar 

days, except in cases when the 20-day 

period expires while the Senate is in recess or adjournment the committee 

shall have 5 additional calendar days 

after the Senate reconvenes to report 

the nomination, and that if the nomination is not reported after the expiration of that period, the nomination be 

automatically discharged and placed 

on the Executive Calendar. 

The PRESIDING OFFICER. Without 

objection, it is so ordered. 

f 

WEEKEND SESSION 

Mr. REID. Mr. President, we are 

going to be in a weekend session. All 

Democratic Senators have been told 

this, and Republican Senators have 

been notified. We earlier anticipated 

that the vote would be early Sunday, 

but I have worked with the Senate 

staff and we are going to be protected 

with postcloture time by having that 

vote at 2 p.m. So what we will do is 

come in Sunday at 1 p.m. and have a 

vote at 2 p.m. 

There are a few procedural games 

people can play, if they desire, and I 


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