FOX NEWS CHANNEL INTERVIEW WITH REP. MARSHA BLACKBURN (R-TN); REP. BRAD MILLER (D-NC)
MR. DOOCY: (In progress) -- against the bill and Democratic Congressman from North Carolina Brad Miller voted for the bill.
And Congresswoman, did you vote agaisnst this because you didn't like the bill or because your constituents didn't like the bill?
REP. BLACKBURN: There are lots of things in that bill that gave me some heartburn. You know, it was too much a bailout and not enough of a workout. And I will tell you, I'm pleased to see that the Senate and also the administration is making some progress. The FDIC announcement, the announcement on mark-to-market or fair value accounting, those are steps in the right direction. They're things that needed to happen to help with addressing the liquidity and the credit issues that we are facing.
MR. DOOCY: Congressman Miller, she says steps in the right direction. You voted for this bill as it was. Does the FDIC being raised -- do the tax breaks -- does that make this less appealing to you?
REP. MILLER: No. I don't think that affects ordinary Americans very much, but it does affect a lot of smaller banks. And I support that. I don't -- I don't have a problem with that.
I didn't particularly want to vote for that bill. I have probably been the leading critic of mortgage lending practices in Congress and maybe in national politics, and the people who are most immediately and diretly helped by the bill are the very people I've been criticizing. But credit is seizing up. It is beginning to affect the economy. If most Americans haven't felt it yet, they will very soon and I think we need to do something.
MR. DOOCY: Congresswoman -- Congresswoman, do you feel like the Senate is kind of -- is kind of pushing your hand right now?
REP. BLACKBURN: I don't think the Senate is pushing the hand. I think that what you're seeing is enough Americans and enough of our constituents spoke out. And a no vote on Monday was the right vote because what it has done is it's caused Secretary Paulson and the administration and the Senate to look and say, you know, there are some things that need to be done, some additional measures that need to be taken. And I -- I think that, you know, this is moving us in the right direction. And we know it.
MR. DOOCY: Well then let me ask real quickly. If this thing goes back to the floor on Thursday, do you vote for it? I mean, we're talking about, you know --
REP. BLACKBURN: We're going to wait and see what the bill is.
MR. DOOCY: Okay.
REP. BLACKBURN: You know, at this point, we don't know what all's going to be in it. The raising of the federal debt limit is something that was astounding to me, the $11.3 trillion debt limit that is in that bill should give every single member of the House and the Senate and every American great pause.
MR. DOOCY: Yeah.
And Congressman Miller, I guess lastly we should point out that, you know, a lot of Americans don't like the bill. But more importantly, they are very disappointed in the leadership.
REP. MILLER: Right.
MR. DOOCY: They don't like the people who are selling them this bill, Congressman.
REP. MILLER: Oh, I've seen a complete change in constituent reaction from before the vote to after the vote. Before the vote, my calls were about equally divided between no and hell no. (Chuckles.) And since the vote, what we've gotten is -- are calls saying, knock it off, get something done, you've got to get something done.
And we aren't going to have a perfect bill. We probably aren't going to have a good bill. But I voted -- I decided not to let the good become the enemy of -- better than nothing, because we really need to do something and do it quickly.
MR. DOOCY: Not exactly encouraging for a lot of owners.
Go ahead, Congresswoman. We've got about 10 seconds.
REP. BLACKBURN: Yeah. The disappointment with the leadership in Washington has been voiced repeatedly, regardless of what side people come down on this issue. We know that something has to be done about the credit and liquidity issues.
MR. DOOCY: Yeah.
REP. BLACKBURN: We know that it has to be done quickly.
MR. DOOCY: Congresswoman, I've got to go.
REP. BLACKBURN: Great disappoint -- thank you very much.
MR. DOOCY: Congresswoman -- yeah. Representatives Marsha Blackburn and Brad Miller, thank you both.
REP. BLACKBURN: Thank you.