Oct 28 2008
Did the US Senator Jim Demint from SC warn about the bailout bill?
Most Americans are outraged at the passing of the bailout bill (HR 1424) and are making there voices heard to those in office. I hate to beat the same dead horse on an issue that has already been passed, but we can learn from this and hold those who voted yes accountable.
Jim DeMint who is a US Senator from South Carolina is one who said no to begin with to the bailout bill and continued to by his no vote. I just received and email from Jim DeMint expressing his understanding of my and many other’s feelings on this issue.
Jim DeMint said “ I voted against this bailout for several reasons. First, it socializes private losses, making all American citizens responsible for the actions of a relative few in the private sector. Further, the law puts a dangerous amount of control over the American financial system into the hands of a single central planner, the Secretary of the Treasury. Finally, it fails to address the decades of misguided government policies that caused the economic turmoil we currently face.”
Senator Jim DeMint also said “Moving forward, Congress must treat the root causes of the economic crisis rather than react to its symptoms. This should include reforming or eliminating counter-productive and often harmful government policies, including the Community Reinvestment Act, Sarbanes-Oxley, and the Government Sponsored Enterprises, Fannie Mae and Freddie Mac. Also, pro-growth policies need to be enacted to ensure freedom and certainty for the American people and our markets, including reductions of the capital gains and corporate tax rates.”
So did Jim DeMint warn about the bailout bill? You bet he did! Find out what he said on the floor here.
