The Bailout and Duncan Hunter
My man Duncan Hunter released this statement the 27th
HUNTER OPPOSED TO TAXPAYER FUNDED BAILOUT OF WALL STREET
Washington, D.C. – U.S. Congressman Duncan Hunter (R-CA) said today that he will continue opposing and vote against the $700 billion taxpayer funded bailout of Wall Street proposed by Congressional Democrats and Secretary of the Treasury Hank Paulson.
“If the taxpayer funded bailout of Wall Street proposed by Congressional Democrats and Treasury Secretary Hank Paulson comes to the House floor, I will vote against it,” said Congressman Hunter. “There is absolutely no guarantee under this proposal that taxpayer funds, used to purchase $700 billion of questionable Wall Street assets, would be re-circulated in the U.S. economy. In fact, this money could end up financing investments in countries around the world, including China and India.
“The base problem rests in the devaluation of real property. I would strongly support a homebuyer tax credit, as well as other incentives, that would assist in moving excess housing inventory and stabilizing the real-estate market.
“I am doubtful that the current proposal for a $700 billion bailout will have any immediate or lasting impact on our financial and housing markets. There are, however, several steps that we can take at no significant cost to taxpayers and a bailout of Wall Street is not one of them.”
I look forward to reading his thoughts about the new deal.