Political Quotes

“I do want to speak on behalf of the McCain amendment and, regrettably, against the underlying legislation. We all understand the reason we are having this debate. Without exception every person in this Chamber is convinced we need to act to jumpstart our economy. People across the country are facing hardship. More than 860,000 properties were repossessed by lenders in 2008, more than double the figure for 2007. American manufacturing is at a 28-year low. Mr. President, 1.9 million jobs were lost during the last 4 months of 2008. The economy shrank at a 3.8-percent pace at the end of the last calendar year, the worst showing in a quarter century. The unemployment rate now stands at 7.2 percent, 7.6 percent in my home State of Mississippi, with many States even less fortunate than mine. These figures are a sobering reminder of how much we have at stake. But that is also why we need to ensure that we get this right. Part of the reason I voted against the bailout last September was that I thought it was rushed. The Senator from Arizona acknowledged it was done in a hurry. We were told if we did not act in a matter of days, the world, as we knew it, might come to an end. I think there are many Members of this body who now wish we had taken more time to ensure that the TARP legislation was done right. Let's learn from that experience. The bill we are debating this week is an unprecedented bill. Its magnitude is a staggering $1.2 trillion over 10 years.”