[Congressional Record Volume 154, Number 160 (Thursday, October 2, 2008)]
[House]
[Page H10647]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   AMERICAN JOBS AND ECONOMY AT RISK

  (Mr. CAMPBELL of California asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. CAMPBELL of California. Mr. Speaker, on Monday afternoon after 
this House rejected and defeated the economic recovery bill, Americans 
lost over $1 trillion in the stock market. They lost over $1 trillion 
in their savings and in their investment and in their retirement 
accounts. If we do not act, that will be just the beginning. Why, they 
would have been better off if we had taken the $700 billion in that 
bill and thrown it in the Potomac. But that is not what this bill will 
do.
  This bill takes that $700 billion and buys assets which have three 
different backstops to make sure that the taxpayers not only get all of 
their money back, but could perhaps actually make a profit.
  Mr. Speaker, American jobs are at risk, the economy is at risk, their 
retirements are at risk. We must act. I hope we follow the Senate's 
lead tomorrow and pass this bill.

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