For Immediate Release
December 10, 2008
Media Contact: Meghan Snyder
(202) 225-2676
Congressman Jordan Stands Opposed to Bailout
Washington, DC -- This evening, Congressman Jim Jordan (R-Urbana) cast his vote against a $14 billion taxpayer-funded bailout of the auto industry.
“On the same day that the government registered the largest monthly deficit in the history of our country, $164.4 billion, Congress continued its bailout spending spree by approving another government bailout to a private industry,” said Rep. Jordan.
The Congressman has sought to help the auto industry by supporting a comprehensive energy policy. One that will access our nation’s own oil and natural gas resources and allow increased drilling and refining to improve the long-term financial stability of our economy. He also supports a lower tax rate and the elimination of government mandates.
As another bailout moves forward, the Congressman believes in four fundamental reasons as to why this is the wrong policy for our country.
“First, once you start down this road, it’s difficult to turn around. Secondly, it does not work – as we’ve seen from the first round of bailouts. Third, it is wrong to saddle future generations with a debt currently approaching $11 trillion. And finally, the same government that has given us record deficits and debt should not attempt to tell the auto industry how to run its business with concepts like the ‘car czar’.”
The automobile industry is an integral part of Ohio and the fourth district, in need of real, long-term solutions from Congress that will revitalize the industry and the American economy.
