Senate Bailout Bill Poll
Beacon Reader Vote Tally on Senate Rescue / Bailout Bill
Question: How Should 6th District Congressman Tom Price (R) Vote on the U.S. Senate Version of Bill That Passed?
For: 104 / 38%
Against: 168 / 62%
Total Votes Cast: 272
The bill passed in the Senate added an additional 112 billion of additional pork. The 451- page bill contains such nonsense as tax breaks for a specific type of toy arrow as well as a race carts. If this bill was so important that it be passed immediately or the US financial markets would crumble, why add things unrelated to the bill into it? The American people are FED UP with WASHINGTON. LET THE FREE MARKETS WORK AND GET GOVERNMENT OUT OF WAY. The GSE is what caused this mess to begin with. MORE GOVERNMENT IS NOT THE ANSWER!. Vote no Congressman Price!
The votes by Chambliss and Saxby prove we need to repeal the 17th amendment. I'd love to recall them! I am a conservative and I am voting against Chambliss in November! I am greatly disappointed with their votes. This bill DOES NOT STABILIZE THE ECONOMY! Our economic troubles today are the result of constant meddling in the economy by Congress and the Fed, deficit spending, and this is NOT a failure of true capitalism. This a failure of central economic planning by the govt. and Fed. This is the failure of Republicans who supported a war without end and massive deficit spending that is draining us of blood and treasure. True capitalism requires sound money, not fiat Fed paper money, and interest rates based upon how much people save which a true free market and not our current managed market to steal from the poor and middle class to give to the wealthy on Wall Street establish.
Mark to Market is not the cause but may help but only for a year or so. We need to radically change. We need to attack the cause. We need to balance the budget AND lower taxes to help all, but we can only do it by reducing all non-entitlement spending. No More deficit spending.
This bill and further Fed moves will destroy the dollar.
We need to wake up here! Our nation has been battling the bank and money trust since it's inception. Jefferson opposed the first national bank and Jackson killed the second. God Bless him forever! Unfortunately, it was a dark day when the Fed was created. First the plan was hatched in secret on Jekyll Island here in GA in 1907 and then called Federal Reserve to Fool the People! Ratified in 1913. 17th amendment ratified 1913, 16th amendment -- 1913. Fool me once...
Vote NO! Mr. Price or, to paraphrase Patrick Henry, lick the boot of the money tyrants and may we forget ye were our brethren. I may have to invest in some tar and feathers. I am also leaving the Republican Party and going independent.
And this is what we really must do for a better future for our children.
I am against this bill, because we don't know anything about it. We need to tie this to drilling here and freeing us from spending $750 Billion a year on foreign oil with our enemies. We could use the money from royalties and taxes. This is how we need to pay for this; it should not come out of the taxpayer's pocket.
As a life-long Republican, I DO NOT want the bailout bill passed. It is past time to return to the capitalist principles upon which America was founded.
The idea that the Senate would pass not only the $700 billion that the voters didn’t want, but also to tack on an additional $100 billion is treason. Hardworking Americans cannot believe how socialist we have already become. Things that should be done:
1. Return “mark to market” to previous rule for 6 months and then review. (I understand this part has been done. It didn't even need to be any part of a bill.)
2. Have the people who benefited most from the practice of lending to people who couldn’t afford to repay, bail this part of the problem out (Dodd, Obama, Kerry, as well as the top three officials from each of Fanny Mae, Freddie Mac and ACORN).
3. As a voter I am not so concerned about this bill bailing out the “fat cats” on Wall Street. I am concerned that we got here due to dirty politics (see item 2). We must have oversight; however, when lobbyists (ACORN & Goldman, e.g.) are involved to be sure they get their cut – that is not oversight. Pick a part of government to remove and then consider bureaucracy to deal with this. Let the markets work. Clean up the government.
Any officer or director on the “Board of Directors” of a company receiving government subsidies should be exempt from large salaries, bonuses, benefit packages, stock options, “golden parachutes,” etc.
All the voters I know are furious and watching carefully to see whose interests our Senators and Representatives care about.
Thank you for this opportunity to express my views.
Erin Eberhard
I am so angry that the Republican Senators sold out and I want Tom Price to vote NO!
Sherry Shedd
I want Tom Price to vote "YES" to this bill.
Gary Wingo
Please vote FOR this package as it was written and passed in the
Senate and vote for it as soon as possible. Thank you for all you do for us here in N Fulton County.
I would like to sincerely thank you for standing up to the bailout plan of President Bush, Secretary Paulson, and Barney Frank on Monday. In the coming hours, you will be tempted once again to vote for another version of the same legislation. Even though the Dodd amendment is qualitatively different, even though its proponents have done their best to make this look like the "Main Street Bailout" and not the "Wall Street Bailout.” Therefore, Mr. Price, I demand that you reject any and all attempts to appropriate public monies for the use of bailing out failed financial institutions, no matter the pretext, no matter the rhetoric, no matter how much it feels right to you.
I don't want the country to be in the shi**er.
Vote YES. He should vote as he has always had in the past---"IN THE INTEREST OF THE PEOPLE OF GEORGIA WITH BU$H" as he has always been saying. He has succeeded in SCREWING UP this country in partnership with Bu$h for the last eight years, always in lockstep with Republican wickedness-all of a sudden the are concerned for their constituents on Main St (what a joke)...so why should he stop now? Quite frankly I wish they would all resign today BEFORE the vote. That PRICE is too high! Double-meaning intended!
TOO MUCH PORK by the Democrats. Can't they just think of something besides their greedy little selves? Vote no.
As a taxpayer the whole things stinks to me. This bill went from 3 pages to 400 pages virtually overnight. How much junk do you think is hidden in those pages that WE are going to pay for. And are you kidding? Only companies that receive more than $300 MILLION dollars will have prohibitions on executives? $300 MILLION tax dollars before being held accountable? I don't like it. As to your question-should Congressman Price vote yes... I don't know. I know something has to be done and I do trust Senator McCain and Senator Chambliss to do the right thing for the American people.... this feels like a no win situation for the American people. Wall Street welfare at our expense. A lot of heads should have rolled already!
I have not heard anything so far other than general pleas that persuades me to think that we should pass this bail out plan. If it is so important then why don't they give very specific examples and list the companies that they will be helping by name! I think that the public has a right to know exactly the companies that will benefit before they vote! Tom Price should demand this information for the taxpayers!! Make them prove that they need it rather than just saying it...they have not earned my trust to just accept the general pleas.
Sandy Lewis
I believe the Democrats started deregulation of Fannie and Freddie and promoted NINA loans for past 15 years. Barney Frank and Chris Dodd ignored problem until the giant bubble burst in their faces. President Bush went to Congress and talked to them and John McCain had a regulation bill blocked. They tried. The senators had no choice with all the baby boomers retirement invested in 401k. Now the real question is can the government manage the new assets for positive results without screwing it up?
It sure would be nice if they could get ONE THING RIGHT!
Sarah Zilske
Tom Price should vote against the bill unless it includes the following provisions:
1. Remove the $3000 cap on carrying forward stock losses on personal tax returns
2. Completely remove the $100K FDIC cap for personal and business accounts, as it will enable capital to flow into banking system. Lend the money just in the same way as the fed lent to AIG rather than buying CDO assets. There is no reason to buy these assts. Loosening Mark-to-Market rules as proposed by the Senate, will re-inflate the value of these assets negating the need for $700M buyout.
4. Remove the wood arrow manufacturer, wool research, and other non-related pork.
5. Completely eliminate the AMT tax system
6. Put a temporary stay on foreclosures on home occupied by owner. Then mandate banks rewrite loans with a low fixed interest rate enabling families to keep homes. If a family cannot maintain their mortgage after the rewrite then foreclose.
7. Cap Senior exec parachutes
Thank you for asking this question. My husband and I are in complete agreement that he should vote NO on this unconstitutional piece of legislation. The free market will adjust to anything if the government gets out of its way!!!!!
Lynette and David Rosinger
Congressman Tom Price should vote for the bill.
Karen Gilbert
Vote no! This whole economic mess we are in was caused by the democrats who decided that it was an American RIGHT to own a home and forced banks to loan money to people who had no down payment, not enough income to support the payment and many who were illegal immigrants.
The same people who made millions off Freddie Mac and Fannie Mae are now the ones who are telling us that they need to fix it. The last thing this country needs if to federalize the financial markets. Instead of voting on this bill why don't we have some brave congressional leaders stand up and tell the American people the truth about this scandal. We are tired of Washington!!
Jacqui Esasky
The bill is 451 pages long and only about 5 pages by my count actually deal with the financial crisis. So, this is again "larded-up" legislation that is so typical of this dysfunctional congress. However, Tom Price should still vote for this bill. The consequences for doing nothing are too great.
Please do not vote for this bailout bill!!! It is loaded with “pork”, and I am insulted that Congress would lay this on the American people….it is a joke! VOTE NO!!!!!!
Jennifer Samples
Vote NO! I am tired of taxpayers being held responsible for the failure of others. My family's hard-earned money would be better spent on programs that actually help us not cleaning up a mess left by greedy corporations.
As a life-long Republican and small business owner, I vehemently do not want the bailout bill passed. It is past time to return to the capitalist principles upon which America was founded.
The idea that the Senate would pass not only the $700 billion that the voters didn’t want, but also to tack on an additional $100 billion is treason. Hardworking Americans cannot believe how socialist we have already become. Things that should be done:
1. Return “mark to market” to previous rule for 6 months and then review. (I understand this part has been done. It didn't even need to be any part of a bill.)
2. Have the people who benefited most from the practice of lending to people who couldn’t afford to repay, bail this part of the problem out (Dodd, Obama, Kerry, the top three officials from each of Fanny Mae, Freddie Mac and ACORN).
3. As a voter I am not so concerned about this bill bailing out the “fat cats” on Wall Street. I am concerned that we got here due to dirty politics (see item 2). We must have oversight; however, when lobbyists (ACORN & Goldman) are involved to be sure they get their cut – that is not oversight. Pick a part of government to remove and then consider bureaucracy to deal with this. Let the markets work. Clean up the government.
Any officer or director on the “Board of Directors” of a company receiving government subsidies should be exempt from large salaries, bonuses, benefit packages, stock options, “golden parachutes,” etc. All the voters I know are furious and watching carefully to see whose interests our Senators and Representatives care about. Thank you for this opportunity to express my views.
Why don't we tell the banks that have made these bad loans to let the people keep their homes and refinance their loans at 2% interest rather than 7-10%? Isn't 2% profit better than none at all?
Congressman Price should vote "no" on the new bill. The bill attempts to prop up a non-viable monetary system whose final doom will only be forestalled by bailouts. The longer politicians try to prop up a failed system, the worse the crash of the dollar will be. Now that Chambliss has voted for this unconstitutional bill, I will be voting for Martin in November hopefully to unseat Chambliss. Representative Price should not cave in the to the pressures around him regarding this bill. It is unconstitutional, immoral, foolish and dangerous.
Congressman Price should definitely vote YES when this bill comes up for a vote. It is NOT a "Bailout for Wall St" as it is commonly referred to in the media, but a freeing up of the credit markets so that businesses can continue to function. It affects everyone.
I personally am disappointed that the only solution that has been come up with is a bailout of financial institutions that benefited immensely financially when the good times were rolling. Now that they are in trouble, it appears that many of our politicians, including those who represent me are all too willing to drop everything and help them out. Where was the same level of commitment and timeliness in addressing issues such as an energy plan for the country (so maybe I would not have to worry about finding gas to fill up my car), healthcare reform (including the ability of insurers not to insure whomever they want in the state of Georgia for any reason), national defense issues (Iraq/Afghanistan/Palestine/Africa/Asia/etc....), Social Security/Medicare reform, or any of several other very important issues been? I'm glad to see the same level of commitment to these other issues is at play with our representatives and senators willing to work nights and weekends to work on them (*not*). Maybe if we spent time being proactive on a lot of issues instead of reactionary we wouldn't find ourselves in the current predicament. While I'm not opposed to stemming the blood-loss and issues related to the mortgage fiasco, and several parts of the bill such as accountability and taxpayer ownership were included which is a small comfort, I am concerned that this is a gamble with odds that would make a Las Vegas hustler blush and think twice before committing to a course of action that may or may not solve the underlying problem. It seems that Washington is in love with the idea of gambling with money most of us toiled hard to earn, on Wall Street, with the outcome of either just squeaking by with a Band-Aid to the problem or with all Taxpayers losing the shirts off of our backs. At the end of the day, what kind of example are we leaving for our children?
Congressman Price needs to vote FOR the Bailout Bill
The time to worry about punishing the "bad guys" and waiting for a
Market-based solution is past. If we don't get credit flowing there may not be any markets
Not sure the so-called experts know what they are talking about. If you listen to them they appear to be covering their backs and not speaking with any authority, ( Franks, Paulson etc.) which leaves me with no level of CONFIDENCE both with the politicians, Wall Street and this so -called bailout. It's pathetic that some of our politicians received kickbacks from Freddie and Fannie. Where is the accountability? They have now reached such a low point they would have to climb 13 feet up just to get to the bottom.
Senate vote is nothing but politics. It means nothing.
The House is responsible for funding issues the Senate simply has to agree after our representatives decide how taxpayers’ money is to be used.
I believe I know what Tom Price thinks about Isakson and Chambliss pathetic leadership because I've talked with him. We should not buy up bad debt.
We have to liquidate the mistakes. So you have to allow the market to adjust prices downward. And that's what we're not allowing to do.
These debts are illiquid assets, but most of those are probably worthless. They're mostly derivatives. So we have to recognize that the liquidation of debt is crucial. And if we did that, we would have tough times, there's no doubt about it, for a year. If we keep propping a system up that's not viable, we're going to have a problem for decades. We’re contemplating sticking those debts to our grandchildren and great grandchildren. And that’s what the likes of Chambliss and Isakson are on the verge of doing.
Congressman Price - Vote No on the bailout
Lee Fleck
Dr. Tom Price earned my respect with his No vote earlier this week. Now let us see if he can keep my respect. This country thrived because we are a Capitalistic/Free Market nation. People and Businesses were allowed to rise or fall based upon their effort and not the government interfering. Sadly we are slowly moving towards a socialistic nation. In this case, we let the businesses privatize the profits, but socialize the losses. We now have Socialism for the poor and the rich. Almost every dollar the government spends comes from the Tax Payers directly (Taxes) or indirectly (through the Federal Reserve which then triggers inflation, or through corporate taxes which are of course passed on to individuals). Sadly no matter how much spin and pork is stuffed into this bill, at the end of the day, it takes $700 billion dollars through force from the tax payers and gives it to Wall Street. It will be dressed up as a loan, but don’t be fooled, the national debt will *never* be lowered after this bill passes. I’m sad to think we may actually be past the point of no return with our fiscal policies in this country. We need fewer Keynesian Economists and more Austrian Economists in DC. So in short, Tom Price did a brave thing in voting against the bill earlier this week, and he should vote against it again. We need more capitalist like Price, and less Corporate Socialists like Isakson and Chambliss. The Death of Free Markets seems right around the corner. I hope I’m wrong. If this bill passes the house it will be a sad day for true fiscal and small government conservatives.
Cade L. Thacker
I think Congressman Price should vote yes for the bill. The public needs to read the bill and find out details before making a decision. This bill will be for the good of our nation.
Nancy Tolbert Yilmaz
Please ask Rep. Price to vote against the Bailout. This is merely placing a band-aid on a severe problem and contains other legislative "incentives" that need to be fully disclosed.
He should vote YES!!! As distasteful as it may be, this bill MUST pass for the well being of our small businesses, jobs and family nest eggs.
Tom Price should have supported the first package. This new Rescue Package is a Lobbyists Dream. Price must Vote FOR This Bill and then educate himself on the way that the American Economy and Financial System works.
It's very simple: If he wants to put "country first", he follows the lead of John McCain and George W. Bush. If he wants to put "Tom Price" and populist opinion first, he votes no.
I think there's no other way now but to pass the bill. BUT, accountability should extend to those in Congress who thwarted efforts to regulate (or enforce regulation) the banking system that got us here in the first place. There should be a concerted effort to publicize and make known how much money some people got - not only in the conservative media - so people are fully aware of what happened. And, no more bailouts.
Please vote no for the proposed bailout of Wall Street. If a Company makes poor choices it should be allowed to fail. This is a fundamental principle of our capitalistic society. We all understand the stock market will go down, banks will fail, and credit will be harder to obtain but I believe too strongly in our country to accept that we will not recover. Government interference with market principles is only going to make things worse.
Caryle Fredericks
Representative Price should stick to his original convictions and vote NO. Simply buckling under will take this country down the path to central planning and a Socialist state. The free market is the only true way to resolve this situation, not additional government meddling.