“I’ve been around long enough to know whenever someone tells me I have to make a decision right now, my response is no,” Senator Jim DeMint (R-SC) said. “That clears it up right away and I think more and more the Bush administration and now this administration knows that they’re not going to get a quick reaction out of Congress unless they create crisis and widespread panic. And that’s going to be their M.O. to get Congress to act.”
By Jeff Poor
Business & Media Institute
Another senator, James Inhofe, R-Okla., explained the Bush administration used a similar tactic, under the direction of former Treasury Secretary Henry Paulson, to get the $700-billion TARP bailout bill passed by Congress back on Oct. 4, 2008.
DeMint said some Republicans now regret they voted for the TARP package, even though there is no way to gauge what might have happened had it not been passed.
“I think there’s a lot of buyer’s remorse among Republicans who voted for the bailouts of all kinds last year,” DeMint said. “And, it’s hard to prove that, some of them are saying, ‘It didn’t work out so well, but it’d been a lot worse if we hadn’t.’ It’s hard, it’s hard to argue that unless you know anything about how business works.”
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