On the recordJanuary 14, 2009
It is unprecedented. There are several reasons why we shouldn't go down this bailout road, I call it this bailout fever that has grabbed Washington. First and foremost, once you start, it is hard to stop. Everybody gets in line. We have seen it. Every single business now has their hand out. We had the governors and mayors that people talked about earlier this evening. The second reason, as the gentleman from Louisiana pointed out, it doesn't work. We have seen what happened with the first $350 billion in the TARP program. The third reason, the most compelling reason in my judgment, it is immoral. It is wrong to do this to our kids and grandkids. It is wrong to saddle this kind of debt to our children and grandchildren, future generations of Americans. One of the things that makes this country special, that made America great, is the concept that parents make sacrifices for their kids so that they have life a little better than they did, and they in turn do it for the next generation and they in turn do it for the next, and we get to be the greatest country that there ever was. The fourth reason is it is unfair. And I think we miss this sometimes. It is unfair that taxpayers bail out certain businesses. And the small business owner back home, he is not going to get help, she is not going to get help to run that small business.
Source
govinfo.gov




