Story Published:
Sep 29, 2008 at 4:40 PM CST
Story Updated:
Sep 29, 2008 at 6:31 PM CST
The blame game is going around Capitol Hill Monday night after lawmakers balk on the bailout bill. The U.S. House rejected a 700–billion–dollar bill to bailout the nation's struggling financial institutions.
But how would the three area candidates wanting to be in Congress would have voted on the bill.
Both the Democrat and Republican candidates for the 18th District Congressional seat say they would have voted for the bailout bill.
The Green Party candidate would not give a definitive answer only saying it made him nervous.
All the candidates had concerns about the biggest bailout in U.S. history.
And none of them supported the original 700–billion dollar plan that virtually was a blank check.
"Those questions I did have, have been answered. And as distasteful as this bailout is, I could and would vote for this package," said Democratic candidate Colleen Callahan.
"Something has to be done. To do nothing in this case, absolutely nothing, would wreak havoc on our economy in this country," said Republican candidate Aaron Schock.
"The precedent that it's setting is a bigger concern to me. 46 We've had this free–wheeling sort of atmosphere that almost anything goes in the financial markets," said Green candidate Sheldon Schafer.
Callahan and Schock agree with Schafer in not liking the government bailing out bad businesses. But, the latest bill had strings attached to the money.
"We are now having an ownership in these companies. We shouldn't just have to take the risk, but we should also be able to share in the rewards when things turn around," said Schock.
While the Peoria area has not been hit as hard by economic downturn, Callahan says this bailout is needed.
"While you are representing your district when you are elected to Congress, you are asked to make decisions that impact the country and the world. This is a decision that impacts the country and our view in the world," said Callahan.
That was indicative in the Dow as it dipped nearly 780 points...the largest one–day drop in history.
"This may be a necessary measure. On the other hand, it shouldn't have come to this," said Schafer.
What these candidates do know is that with about a month left before the election, the hot topic on the campaign trail will likely be the economy.
Tuesday, Sep 30 at 7:12 AM Darci wrote ...
I agree completely with you Dorothy!