Indiana congressmen vote 6-3 against bailout bill
Dem Congressman: 'We put thieves in jail, we don't bail them out'...
Following is reaction from the Indiana congressional delegation to the $700 billion emergency rescue package for financial markets, which defeated Monday in the U.S. House of Representatives on a 228-205 vote.
Lawmakers, White House agree on $700B bailout
The Indiana delegation voted 6-3 against the bill. Democrats Joe Donnelly and Brad Ellsworth and Republican Mark Souder voted to support the bill, while it opposed by Democrats Andre Carson, Baron Hill and Pete Visclosky and Republicans Dan Burton, Steve Buyer and Mike Pence:
"It is now imperative that Congress come together and develop a response to the crisis facing our financial markets that reflects the American people's belief in personal responsibility and fiscal discipline." — Rep. Mike Pence, Republican.
"I have been rushed to judgment by the Bush Administration before. There hasn't been enough time to evaluate the impacts this legislation would have if enacted, or to consider alternatives. Congress deserves time to weigh the benefits and the potential pitfalls of borrowing this money." — Rep. Baron Hill, Democrat.
"We are now in the golden age of thieves. And where I come from we put thieves in jail, we don't bail them out." — Rep. Pete Visclosky, Democrat.
"I am bothered that Secretary Paulson offered an immediate government solution rather than taking the time to explore effective private sector and market based solutions. The Paulson plan was an unprecedented infusion of government power into the private financial sector." — Rep. Steve Buyer, Republican.
"When there are serious people discussing the possibility of another economic depression, it is time to act. The rescue plan was not perfect, but it was necessary. And while no one took any pleasure in voting for it, the alternative — doing nothing — is potentially disastrous and therefore unacceptable." — Rep. Joe Donnelly, Democrat.
"I believe this particular bill would be devastating to the economy and create an inflationary nightmare. We must also ensure that we are not inadvertently purchasing bad debt from China or other countries." — Rep. Dan Burton, Republican.
"Ultimately this is about that worker in Vincennes who is wondering if his pension will be there in the future; the single mother in Greencastle who dreams of sending her children to college; or the small business owner in Boonville who is trying to meet payroll. These are the Americans that have everything to lose if Congress fails to act." — Rep. Brad Ellsworth, Democrat, in statement before the vote