Area’s U.S. legislators talk bailout

PLAINS TWP. – U.S. Rep. Paul Kanjorski said he voted for the $787 billion federal stimulus package even though e-mails from constituents were running “1,000 to 1” against it.

“We’re not out of the woods yet,” Kanjorski, D-Nanticoke, told about 175 people at a program offered Monday morning by the Greater Wilkes-Barre Chamber of Commerce. “The next bailout package could exceed $1 trillion.”

Both Kanjorski and U.S. Rep. Chris Carney, D-Dimock Township, said another bailout of the banks may be needed, but there is no mood in Congress for it.

Kanjorski and Carney were joined by U.S. Sens. Arlen Specter, R-Philadelphia, and Bob Casey, D-Scranton, for the session held at the Woodlands Inn & Resort.

The lawmakers all agreed Congress would not pass another bailout of the banks right now, but Kanjorski said another stimulus program may be considered toward the end of the year.

“We’ll know more within the next two months,” Kanjorski said. “If we do need another one, that means the recovery is not progressing and the recession is continuing.

Carney, like Kanjorski, voted for the stimulus package. He said legislators received a copy of the bill just 14 hours before they were asked to vote on it.

“If there’s one thing that’s wrong in Congress it’s that we don’t have enough time to study what we’re voting on,” Carney said. “In this case, it was better to be guilty of commission than omission; better to do something, rather than nothing.”

Casey said that while the stimulus package is good for the region, the state and the country, there remains a lot more work to be done to get the economy on the road to recovery.

“To do nothing here would have been wrong,” Casey said. “This bill is good for everything from clean water to cops; we have to get the economy out of the ditch.”

Specter said he put his Senate seat “on the line” when he voted for the recovery plan. Specter is up for re-election in 2010 and expects a challenge from within the Republican Party.

“I disagree with the congressman, I don’t think you’re going to see another stimulus package,” Specter said.

Kanjorski said he spent Friday in New York City where he visited the offices of seven hedge funds.

“They are the most depressing people in the world,” Kanjorski said. “They are convinced the sky is falling. These are former billionaires.”

Kanjorski said that when the economy tumbled back in September, “nobody knew how close we had come to the abyss.” He said the U.S. economy came dangerously close to a “total meltdown.”

Calling it a “frightening event,” Kanjorski said he and his fellow legislators made a commitment to do “anything” to save the U.S. economy.

“All of us are rolling the dice,” he said. “But I would rather roll the dice and lose an election; this had to be done.”

Carney said that as Congress continues to address the economic woes, legislators must go about it in a non-partisan manner.

“We can’t be partisan; we must be American,” Carney said. “We have to do what we have to do to succeed. When we come out of this storm, we will be stronger.”

Casey said universal health care is vitally important and he expects President Barack Obama to strongly support the effort. Casey also said 250,000 college students will receive help from increased Pell grant funding. The federal Pell Grant Program provides need-based grants to low-income undergraduate and certain post-baccalaureate students to promote access to post-secondary education.

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Kanjorski, Carney, Specter, Casey at W-B Chamber event

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