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Salazar, Allard unsure on how they'll vote on bailout

By Berny Morson, Rocky Mountain News (Contact)

Published October 1, 2008 at 2:27 p.m.
Updated October 1, 2008 at 3:46 p.m.

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Colorado's U.S. senators still aren't sure how they'll vote when the financial rescue bill comes up this evening.

U.S. Sen. Wayne Allard, a Republican, said he's concerned about increasing the national debt to $11.3 trillion to pay for the bailout.

"Every time we turn around, we're spending like a drunken sailor," Allard said.

Allard is also wary of some unrelated measures that are being tacked onto the bailout bill. One such proposal would mandate mental health coverage as part of health insurance policies.

Allard called that proposal "a very expensive bill."

But U.S. Sen. Ken Salazar, a Democrat, said some of the additional measures would help Coloradans, including some tax cuts and a solar energy program that would create jobs.

Salazar said Congress must rescue the economy, and the latest version of the bill is a step in the right direction.

But, he said, "I am not sure I am ready to vote for it yet."

He's looking for assurances that Congress will move quickly to increase oversight of the financial industry once the rescue package passes. He would like hearings begin soon.

Allard, in a separate press conference, also said the latest version of the bailout proposal is better than the one introduced last week. For example, the bill now includes an inspector general to oversee the rescue program and provisions to recoup the funds.

But, he said, "I have a lot of reservations about this bill."

"No doubt we do have a severe problem in our economy," Allard said. But he's not sure how much effect the bill will have given that the problem is worldwide.

"It will be a close call, no matter how I vote," he said.

Comments

  • October 1, 2008

    4:21 p.m.

    Suggest removal

    SanctuaryCity writes:

    Salazar, he has no clue on anything

  • October 1, 2008

    4:25 p.m.

    Suggest removal

    olderandkindofwiser writes:

    Suze Orman said "We lost trillions yesterday".
    Did you guys lose trillions? I sure didn't. Maybe the 401 k will go down a bit, so what, middle Americans aren't "losing trillions".

    ALLARD VOTE NO!!!! This is socialistic government of the worst sort - goodies to those on the top and the rest of us pay.

  • October 1, 2008

    6:16 p.m.

    Suggest removal

    spyder writes:

    After "much soul searching", for the "good of the nation", they will vote for it. It's very funny how loud money talks. So loud, as a matter of fact, the taxpayer won't be heard.
    Vote them all out!!!
    Return to a government FOR THE PEOPLE, BY THE PEOPLE, OF THE PEOPLE.

  • October 1, 2008

    11:05 p.m.

    Suggest removal

    rappaport writes:

    I agree with many bloggers---the only ones to "lose" the most are the "rich". They are the ones heavily invested in the stock market. It was the "rich" back in 1929 who were jumping off buildings, killing themselves, because of the "dive" of the stock market. You DID NOT see "average" Americans killing themselves---all they did was tighten their belts and throw another potato in the pot! America SURVIVED that "crash". And we would have survived another crash---however, the "rich" CANNOT bear to be forced to live like "average" Americans---it's just too demeaning for them! WE DO NEED TO REMEMBER THIS, WHEN IT COMES TIME TO "VOTE" THESE FAT-CATS BACK INTO OFFICE! We NEED the names of every Senator and Representative in our respective states, so we know "who" NOT TO VOTE FOR AGAIN! That is how the "people" take back our country!

  • October 2, 2008

    12:06 a.m.

    Suggest removal

    happymike44 writes:

    Like former first lady Nancy Regan has always said: just say no to the criminals.
    I don't care if some rich mortgage broker can't buy a new b.m.w. for christmas this year.
    Also why should the little people pay for peolple who played fast and loose with the firms money.
    They blew it and deserve to lose their jobs.
    Also how about putting some of these upstanding nice guys in jail.
    At least till they see the errors of ones way.