Jul 23 2008
McHenry Opposes $5 Trillion Mortgage Bailout
FOR IMMEDIATE RELEASE
July 23, 2008
Contact: Brock McCleary
(202) 225-2576
McHenry Opposes $5 Trillion Mortgage Bailout
WASHINGTON – Today, Congressman Patrick McHenry issued the following statement in response to the forthcoming vote on H.R. 3221, the Mortgage Bailout Bill.
“Every Western North Carolina taxpayer is going to foot the bill for a $5 trillion bailout of irresponsible financial institutions. That is just plain wrong. I have been fighting this corporate bailout every step of the way and will vote against it.”
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I am going to add in my own note here. I’m pleased to hear that McHenry stood against this travesty. This astronomical bailout is going to put money in the hands of failed CEOs and suits on Wall Street courtesty of you and me. We’re no longer heading down a road to Socialism. When our tax dollars are being used to prop up corporations and pay off peoples’ mortgages we’re already there.
A $700 Billion bailout amounts to $3.5 million for every person 18 yrs + give or take 200 million of us in the country; thats $7 million for a couple. So Georgie & Paul & the rest of the legislature, give us our money & we’ll pay off our debts, invest in the economy & pay taxes on the distribution making it more like a $500 billion real incentive stimulus package, (vs $1,000); & by the way fire the overpaid under taxed greddy bunch that created this mess.
Please be a loud voice of opposition this plan there is no quick fix just tough medicine
Were I in Congress, I would support a bail out ONLY if it were coupled with an undoing of all the laws that got us into this mess in the first place. That’s a decent compromise in today’s political climate, I think.