What was Congress Thinking?

Normally, I stick to discussing issues that have a direct impact on our lives here in Forks Township.  We just chat about local issues. 

Today, the U.S. House of Representatives shocked and stunned the world by defeating the bailout bill by a vote of 228 to 205.  I have decided to offer a few comments about today's wild and wooly developments.

Did Congress vote in the best interest of Main Street instead of voting for the best interests of lobbyists or for political ideologies? Did Congress vote to maintain the public confidence in our financial institutions and our monetary system?   Did Congress vote to show the world that we can make the tough decision? Did Congress, in fact, do the right thing?

Today, we saw the ugly face of bitter partisan politics .  We saw a Congress turn its back on the American people and showed us how little they care. Today, we saw a Congress that lacks courage and conviction to do the right thing.

I know the bailout bill was not the best solution, but at this time, it was the only solution. The bill contained congressional oversight, tried to limit taxpayer exposure, contained limitations on executive pay, and had foreclosure prevention measures. I believe this is the best political compromise the House of Representatives could muster to help restore the credit market, at least in the short-term. Yes, I would support this bill, as a temporary measure to improve the credit markets.

This afternoon, Wall Street showed us how serious our financial crisis is, as the Dow Jones Average plunged 777 points. Tonight, the U.S. credit market no longer functions properly, as it lacks liquidity to make loans or extended lines of credit to corporations.  Today, millions of Americans lost allot of money. According to CNN.com, investors lost over $1.2 trillion in market value. Ouch!

It is time for Congress to get back to work for the American people. It is time to “belly up” to the bar and cast a vote for Main Street. Every now and then, a Congressman or Senator must make a vote that is courageous and difficult. The voters may not agree with your vote, but at least they can respect your decision.

So, how did Charlie Dent vote today? U.S. Rep. Charlie Dent, R-Lehigh Valley voted nay.  I will let the November election be the judge of the validity of his vote. All I know, we are allot poorer tonight.

Now more than ever, get involved. Every Voice Counts!