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Rob Wittman gives thoughts on economy at meeting in Spotsylvania County Date published: 10/8/2008
BY BILL FREEHLING
The recently passed economic recovery bill is "just the beginning" of the steps needed to get the economy back on solid ground, U.S. Rep. Rob Wittman told a group yesterday at the Fredericksburg Country Club. Wittman, a Republican congressman who represents much of the Fredericksburg area, was speaking at a meeting to discuss plans for the Spotsylvania Technology Center at the Summit Crossing development. Wittman voted against the recovery bill, which the House of Representatives passed Friday by a 263-171 vote. It gives the Treasury Department authorization to buy hundreds of billions of dollars worth of distressed assets from banks to get credit flowing again. Bill Day, the Fauquier County Democrat running against Wittman, put out a press release yesterday attacking Wittman for his "no" vote on the bill. Day had expressed some of the same misgivings as Wittman about the bill in interviews both candidates gave on the day before the vote. He worried about its oversight measures and the lack of specificity for how Treasury would appraise and select assets to buy. Day did say last week that he was beginning to hear from district residents as he campaigned that, "We need to move on this." In his release yesterday, Day called Wittman's vote a way to "protect his election chances." Wittman said yesterday that the key to recovery was lifting up the foundation of the economy rather than trickling down resources from above. That foundation is small businesses, he said. Wittman proposed extending tax breaks and incentives to small businesses to encourage their growth. He also called for more government oversight of financial companies. He said Congress must carefully study what caused the current crisis to make sure it doesn't happen again. In summary, Wittman said the recovery will take a while and challenge the country, but he offered optimism. "I am convinced we will come out stronger," he said. Bill Freehling: 540/374-5405
Rob Wittman is correct in wanting a bill that would better address our current world financial crisis, minus the significant pork barrel spending inserted by other members of Congress, all while putting in place a common sense plan to address longer term economic and financial issues. Using 20-20 hindsight on the stock and credit market effects this bill has had, another week or two to put forth a bill that might be more than just throwing money at a problem is bothreasonable and responsible. Good job, Rob
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