Monday, December 14, 2009

Rep. Franks Condemns Liberal Democrats for Yet Another Bailout

December 11, 2009 - Congressman Trent Franks (AZ-02) gave the following statement today after voting against yet another government bailout bill, H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009:

Democrats have taken to calling Republicans the ‘party of no.’ Today I once again have to confidently andproudly embrace that title, because since taking control of Congress, Democrats have given House Republicans exceedingly few pieces of legislation worthy of a ‘yes’ vote. From the so-called ‘stimulus,’ which has been a demonstrable failure, to the "Cash for Clunkers" program, which ran out of money within a week, to cap-and-tax, which amounts to the largest tax increase in American history, to a government takeover of the American health care system, to government takeovers of private banks and automotive companies, Democrats have clearly made it their mission to drastically extend the reach of the federal government in ways never before seen in our nation – the land of the free.

The 1,300 page H.R. 4173, the so-called “Wall Street Reform and Consumer Protection Act,” is yet another shameful feather in liberal Democrats' cap.

“Over the past few months, Americans have vocally protested government bailout after government bailout. Not only are Democrats not listening to Americans’ wishes, they are actively working against them, as H.R. 4173 would create a permanent ‘bailout fund,’ which essentially amounts to an allowance to cover Democrats’ continued takeover of yet more American businesses. And in addition to imposing countless new regulations on American businesses, including giving the federal government extensive control over how much money companies pay their employees, the bill creates yet another massive taxpayer-funded federal agency – the so-called Consumer Financial Protection Agency.

“Americans are struggling; they need relief from oppressive amounts of red tape and government bureaucracy. Instead, in the midst of economic hardship, Democrats are forcing struggling Americans to pay for mistakes made by those on Wall Street and in Washington, D.C. Today's Permanent Bailout Bill represents the antithesis of the free-market principles that led to America’s unprecedented economic success.”

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