Political Quotes

“I too object to the unanimous consent request. While the sponsor says it is aimed at bailouts, no one I know of is seeking a bailout from the communities that would be impacted. Despite the stated intention, the effect of this bill is to endanger the financial health of hundreds of cities and counties in every corner of this country. It would weaken the safety and security of countless Americans who call those communities home. I don't know of anyone seeking a bailout. Yet bailout is the word that is used frequently here by the sponsor of this legislation. What is the definition? Communities at risk of defaulting. Hundreds and hundreds of communities are ``at risk of defaulting.'' It is unclear what that means. But the strains on local governments in the last few years--particularly following the financial crisis we had--are real. To say that any community, city, or State, for that matter, that is at risk of defaulting is to be challenged in terms of getting regular support from the Federal Government. This is not limited to loans. This bill affects grants as well as loans. In the words of the bill, ``grants and aid'' would be prevented. All sorts of Federal funding, in other words, besides those kind of actions of the Federal Government involving credit or reliance on credit of the donor or for repayment. The Congressional Research Service says this, again, applies not just to loans but to grants as well.…”