Sunday, September 28, 2008

I just saw the House Republican response to the Bailout Bill

For over two hours, House Republicans were behind closed doors discussing the bailout bill. I just caught the press conference when they came out.

It looks like this is still a hard sell. Maybe its the insurance issue that the House Republicans want - this is basically an FDIC like system for these "bad assets", instead of just buying up the assets in exchange for stock and cutting CEO "golden parachutes".

But more than anything else, I think the #1 question was: what do I tell the people in my districts? When they hear that we spent $700 billion to bail out Wall Street while family farms fail, while Republicans fight S-CHIP and health care, while we told people "cut taxes for the wealthy, and they'll spread it around" - and now people make less than they did 8 years ago, home values are falling, college is harder to afford.

That's the big issue facing House Republicans when they go home. How do I give them a reason to vote for me, after what a Republican Senate, Republican House, Republican President, and conservative Supreme Court gave the nation: a big empty wallet.

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