LAUTENBERG BAILS OUT DETROIT

-- Zimmer Criticizes Senator Lautenberg Support of $25 Billion Bailout for Automakers --


September 30, 2008

Lawrenceville, NJ - The Zimmer for Senate campaign today criticized Senator Frank Lautenberg for his support of a $25 billion taxpayer-funded bailout of Detroit's auto industry. 

On Saturday, the U.S. Senate passed a spending bill that guarantees up to $25 billion in low-interest loans for Detroit's auto industry to retool old factories.  With this loan guarantee, Senator Lautenberg is using taxpayer dollars for corporate welfare.  (Senate Vote 208 on HR 2638, September 27, 2008)

Zimmer for Senate Communications Director Kristen Hainen issued the following statement: 

"Senator Lautenberg believes that if you throw enough money at a problem you will fix it.  That is why he supported rewarding the Big Three automakers in Detroit for their bad business judgment with a taxpayer funded bailout.  These companies are in their present state because they failed to develop fuel-efficient cars and because they successfully convinced Congress not to raise fuel efficiency standards for decades.

"For too long Senator Lautenberg has failed to effectively address the interests of New Jersey families.  New Jersey families are facing an energy crisis, an affordability crisis and a financial crisis.  Yet Senator Lautenberg is sending billions to bail out the Big Three automakers in Detroit rather than take care of New Jersey's needs. 

"Now more than ever, we need fiscally responsible elected officials who know when to say ‘no' and know how to get our economy back on track.  It's time for a change.

"As the next Senator from New Jersey, Dick Zimmer will bring about true fiscal responsibility to Washington and make the interests of New Jersey his top priority."

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