Bailout Vote: Arkansas Representatives Vote Yes

The $700 billion bailout, bill HR 1424, which the House passed on Friday, was signed into law today by President Bush. All of the representatives from Arkansas voted to pass the bill.

So who voted? A total of 4 representatives voted. Democratic and Republicans all entered a vote of yea (yes).

Democratic Congressmen Marion Berry of the 1^st District, Vic Synder of the 2^nd District, and Mike Ross of the 4^th District, all voted yes. They all issued a yea vote on the original bill as well.

The only Republican Congressman, John Boozman of the 3^rd District of Arkansas gave a yes vote. A vote of yes was a vote to pass the Emergency Economic Relief Bill. He also voted yes (yea) on the first version of the bailout bill HR 1424.

Will the bailout help? Supposedly yes. We should see short term credit loosen up and a lowering of the LIBOR index within a few days if the bailout does what it was intended to do. Has it restored confidence in Wall Street? Not yet, the market is still down. If this bailout does not work, then the taxpayers are footing the bill for a $700 billion payout that did not work plus whatever else it takes the government to straighten this mess out. The true cost of this bailout will reach a trillion or more once all of the other add-ons of this bill are paid for. Hopefully, this will help turn the economy around. Only time will tell if adding another trillion dollars in debt to the government will help jump start the economy.

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