Larsen defends fed bailout at senior center
November 4, 2008 · Updated 4:38 PM
ARLINGTON — After attending a job fair at Meridian Manufacturing Plant Oct. 29, U.S. Representative Rick Larsen zoomed over to the Stillaguamish Senior Center to talk economy with the elders.
“I sincerely believe the financial rescue package was necessary to bring stability to the market,” he told a group of about 20 people.
Larsen shared information about another package, an investment in infrastructure to fix bridges and build roads, upgrade sewer systems, and pay for education, that he expects will be passed in January.
“The package will provide jobs and help rebuild the economy,” Larsen said.
He also spoke to the seniors about the security of their retirement savings.
“I am now very thankful that we did not privatize Social Security.”
He defended the federal action of the ‘bail out,’ “if you want to call it that,” he said.
“We have learned some things since the Great Depression, most importantly, to take action before it takes us over.”
After he gave his speal, Larsen took questions.
Questions like, what role did the war in Iraq play in this economic crash, and what are your plans to help feed and house people during this difficult time?
After explaining the plan to extend unemployment benefits, he said he believes the assistance to Wall Street will benefit Main Street in the long run.
“I personally believe there is no line between the two,” Larsen said.