Young stands by his 'no' vote on bailout
Rep. C.W. Bill Young stands by his vote against the $700-billion economic bailout, arguing Congress didn't have time to thoroughly review it.
Young, R-Indian Shores, told the St. Petersburg Times editorial board on Friday that he did not like the way the legislation was twice rushed to a full House vote without proper scrutiny by committees. He criticized Treasury Secretary Henry Paulson's failure to warn Congress of the financial problems quickly enough and called his answers leading up the crisis evasive.
Young also called President Bush a lame duck president and acknowledged the awkwardness of dealing with such a crisis so close to a presidential election. Politically, he said, the smartest course of action for members of Congress was to vote against the bailout.
Young said he believed Congress should have remained in session and continued to work on the problem, holding hearings and calling the some of the country's brightest economic minds to Washington to testify. "We're relying on the people who got us into the problem to help try to fix it," he said.