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Vermont Public Radio - House Candidates Disagree Over Bailout Bill

Interview

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Location: Montpelier, VT


Vermont Public Radio - House Candidates Disagree Over Bailout Bill

(Host) The major party candidates for the U-S House have sharp disagreements over the recently passed $700 billion bailout bill for the financial services industry.

Speaking last night during V-P-Rs Congressional debate, Democratic incumbent Peter Welch defended his vote in favor of the legislation. But Welch says the bill is only the first step in a long term effort to rebuild the economy:

(Welch) "Anyone who believes that we can undo 10 years of reckless borrowing and reckless spending with one single piece of legislation obviously is mistaken what we have to do is something in the short term to try to thaw the credit markets.We have to have a long term return to basic economic principles to start supporting the middle class and that's what's been left behind we've got a long road ahead."

(Host) Progressive challenger Thomas Hermann opposes the bail out bill because he says it rewards some businesses that made terrible financial decisions:

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