Sep 30, 2008

For Immediate Release

Contact:  Chris Hill
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P (321) 254-6282
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Sen. Posey Statement on Federal Bailout Plan

Melbourne, FL – Senator Bill Posey, the Republican nominee for Florida’s 15th Congressional District, issued the following statement regarding Monday’s vote on the federal bailout deal.

“I adamantly oppose the bailout.  This was a bailout for Wall Street bankers that will cost the average taxpayer thousands of dollars.  This is the same kind of deficit spending that got us into this situation in the first place.”

“I cannot support this federal bailout.  It is my fundamental belief that government should tax what it wants to discourage and subsidize what it wants to encourage.  At this point, it appears that the bailout rewards bad behavior.  What’s next – the auto industry?  The real estate industry?  This has been too hastily put together and the consequences to the taxpayer could be dire.”

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