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Working in Bipartisan Fashion to Begin Fixing our Economy

October 3, 2008

Today the House must act decisively and in bipartisan fashion to begin the process of rescuing an economy that has been spiraling downward for some time.   

Without action, we are warned that credit markets will freeze up---preventing families from getting car and home loans, students from qualifying for college loans and small businesses from being able to pay their employees or purchase new products. 

Over the last couple of days, we have heard that traffic in automobile dealerships is down 50 percent because people cannot get the credit to purchase a new car.  We have also heard about college students not being able to pay for their classes or their books, because they cannot get the college loan to cover their education costs. 

            If we don't act today credit markets will freeze and Main Street will suffer.  Families living paycheck-to-paycheck will see their credit card limits slashed and interest rates increase.  This is something we simply cannot allow to happen.  I hope that we can come together in strong bipartisan fashion to pass this economic rescue package today.