WASHINGTON, D.C. – Congresswoman Lois Capps released the following statement regarding the economic crisis:

“Our economy is facing a crisis of massive proportions and it is important we work together in a bipartisan fashion to address it.  I will review Treasury Secretary Paulson’s proposal over the weekend and work with my colleagues to ensure it not only stabilizes Wall Street but, more importantly, safeguards families on Main Street.

“I am extremely concerned about this historic intervention into financial markets, but I am worried that the costs of doing nothing would be even higher.  We have to take steps to calm the markets and stabilize our economy.

“Democrats are committed to working in a bipartisan fashion to get our country back on the right track.  But it is important to remember this situation is largely the product of 8 years of leadership by President Bush and the Republicans.  Their governing choices have resulted in financial meltdowns, massive job losses, skyrocketing energy prices and record federal budget deficits.  It has been the President and his party that have been asleep at the wheel and have allowed these financial markets to get out of control. 

“It is clear that America needs a real change in leadership to take us into the future.  We don’t need more of the same hands-off, laissez faire attitude toward government regulation that has gotten us in these messes in the first place.”

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Pictured above: (center) Congresswoman Capps meets with Central Coast firefighters to discuss emergency preparedness.