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Phone: (337) 262-6898
Fax: (337) 262-6373
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Phone: (225) 383-0331
Fax: (225) 383-0952
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Phone: (318) 448-0169
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Phone: (318) 325-8120
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Phone: (202) 224-4623
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Stands Against Auto Bailout in Senate Floor Speech |
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November 20, 2008 - Untitled Document
(Washington, D.C.) – U.S. Sen. David Vitter today voiced his opposition to what he called an “ever-widening intrusion on the free market” during a speech on the Senate Floor. “On September 29th, I expressed my strong opposition to the Treasury’s Wall Street bailout plan because it would pave the way for even more bailouts by the federal government – and clearly it has. Even within that original Wall Street bailout program, we’ve moved from the original plan A to plans B and C. “This auto bailout is yet another fundamental mistake. Not only will it not save the Big Three, it will actually doom them to failure. “Of course, no one wants to see these storied companies fail. But this $25 billion will actually guarantee their demise. With no real fundamental or substantive changes in these companies’ organizational structure, Congress will be forced to revisit additional bailouts for automakers as early as six months from now. “And the alternative proposed by the White House and some Republican leaders in Congress is further encouraging bailout mania by trying to achieve the same goals as the Democrat plan by simply taking the money from another pot without demanding truly fundamental restructuring. “If we’ve learned anything, it’s that blank checks and bailouts on the backs of the American taxpayer do anything but solve the problem. Taxpayer dollars should be married to fundamental reform. Otherwise, this bailout will just put off the day of reckoning by a few months,” Vitter said. |
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Untitled Document
When Congress passed an unprecedented $700 billion bailout of the financial sector, I warned that it would pave the way for future bailouts, and sadly, that prediction has proven true as the Big Three American car manufacturers are asking for a $25 billion bailout. No one wants these companies to fail, but it would be a grave mistake for the federal government to bailout these companies without fundamentally reforming their business models. Mobile Office Schedule
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Sen. Vitter Calls to Close MRGO.
Sen. Vitter outlines a plan to close the Mississippi River Gulf Outlet (MRGO). |
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