Four COLORADO ‘No’ votes DON’T SHIFT amid DIRE STRAITS
Concerns that a failure to pass a $700 billion economic bailout package could cripple U.S. financial markets did not convince four naysaying Colorado congressmen to get behind a bill the House passed Friday.
Less than a week after the House’s vote to kill the White House’s economic bailout plan sent the Dow Jones Industrial Average into a record tailspin, Reps. Doug Lamborn, R-Colorado Springs, Marilyn Musgrave, R-Fort Morgan, John Salazar, D-Manassa, and Mark Udall, D-Eldorado Springs, voted again Friday against a new version of the bill.
Just as they voted Monday, Reps. Diana DeGette, D-Denver, Ed Perlmutter, D-Golden, and Tom Tancredo, R-Littleton, voted for the bill as it passed the House on a 263-171 vote.
Salazar said he remained opposed to the bill because of how the Senate irresponsibly “larded” it up with earmarks, leaving taxpayers holding “$810 billion of debt instead of $700 billion.”
Salazar, who was one of 228 lawmakers who opposed the bill earlier this week, said that instead of rushing out a bill, federal policy makers should have stayed in session as long as it took to produce a bill that would not have forced the country to print more money or borrow capital from foreign banks.
“To me, I feel like they’re putting a Band-Aid on a cancer, and we haven’t actually tackled the real problems that are out there in our financial markets,” Salazar said.
Udall told reporters he liked some provisions of the revamped bill but that it still was not good enough.
“The rest of the bill is hundreds of pages of sweeteners trying to buy people’s votes,” Udall said.
He said he still did not think the bill will do enough to prevent future collapses of the country’s financial markets.
“We can do better,” Udall said. “We should do better.”
Perlmutter said he understood his peers’ issues with the bill but that he could not sit on his hands while the financial markets ground to a halt.
“I believe our economy is in a crisis,” he said in a statement, “and I strongly believe we needed to act now to stabilize the markets and deal with the credit crisis in order to rebuild and strengthen our economy.”