Pat opposed the taxpayer-funded bailouts from the very beginning and will continue to oppose them.
As a senator, Pat will fight to save taxpayer dollars from wasteful bailouts and to protect hardworking, responsible businesses and individuals.
America is in danger of becoming a bailout nation. First, Congress bailed out the Wall Street companies, then homeowners who borrowed too much, and then the auto industry. Altogether, the American people have been placed on the hook for several trillion dollars.
Despite promises of oversight, the bailouts have been plagued by a lack of transparency, abuse, and waste. Undeserving banks have received millions of dollars, while some recipients of the bailouts enjoyed a retreat at a luxury resort. This policy is both unfair and bad economic policy.
Bailouts reward companies that took too many risks and acted irresponsibly simply because they are large and hold sway in Washington. At the same time, the bailouts punish those businesses and individuals who worked hard, acted responsibly, and succeeded. In other words, bailouts encourage failure and discourage success.