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The Shreveport Times - Kennedy Talks Financial Crisis in Shreveport

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Location: Unknown

by Loresha Wilson

U.S. Senate Candidate John Kennedy talked this morning about America's financial crisis and how to overcome the federal deficit — expected to be be more than $480 billion for this year.

Kennedy, during a campaign stop in Shreveport, said the out of control spending in Washington is wrecking the economy and driving down the value of the American dollar.

"In a global economy people can invest anywhere, they don't have to invest in America," the Republican candidate and state treasurer said. "The deficits are hurting our economy and causing us to lose investors. We have got to balance our budget and spend less."

He said Congress should cut taxes so people have more money to spend and pay bills, should stop deficit-spending and should put limits on the nation's banks and lending firms.

"We should never allow a financial institution to get so big that its failure can wreck our economy," he said.

Kennedy, who is running against Democratic incumbent Mary Landrieu, spoke to about 30 people standing outside of Strawn's Eat Shop Too, at 1643 E. 70th Street.

He used the eatery as an example of how small businesses struggle to survive as he talked about his plan to support such establishments if elected to Congress.

During the meet-and-greet Kennedy aligned himself with Republican presidential contender John McCain but said "I think we are going to wake up Wednesday and see a more liberal America."

He mentioned Landrieu's endorsement of Democratic Barack Obama, an endorsement he uses to describe Landrieu as a "tax-and-spend liberal."

"We need someone who's going to stand up to a liberal Washington, D.C., for the principles and values of the people of Louisiana," Kennedy said. "I'm not confused. I'm conservative, but the people of Louisiana are not going to be confused either."

Regardless of the Nov. 4 election results, Kennedy said these things must happen:

• Medicare waste and fraud must be cut.

• Reduce the number of independent contracted federal employees.

• Congress needs to cut taxes.

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