Monday, July 28, 2008

Garrett on the Housing Fight

In this week's Garrett Gazette, Representative Scott Garrett talks about the fight over the Housing Bill. Since I was pretty harsh earlier, I figure in the interest of fairness I'd post his thoughts on the matter:
The Housing Bill passed by the House and the Senate last week exposes the American taxpayer to a huge amount of financial risk. While I am a strong advocate of GSE reform for Fannie and Freddie, this bill as written could add 5 trillion dollars to the national debt in the blink of an eye, by using the taxpayer dollars to underwrite the debts of Fannie Mae and Freddie Mac. Ever since I came to Congress in 2003, I have been a vocal critic of the implied backing that the federal government grants Fannie Mae and Freddie Mac. I introduced my own GSE reform bill as an alternative to this Housing bill that contains extraneous components that are simply a misuse of taxpayer

Maybe you happened to read some of the articles that talked about the fight my colleagues and I waged against this egregious Housing bill. I’ve included a few media clips below for you to review. I will continue to speak out against legislation that jeopardizes the family budget. Please be assured that I will persist in my advocacy against wasteful spending.

Speaking out and getting results are two different things, but that's what I talked about earlier.

If you are interested in seeing the clips, you can click over to his website for the links.

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