Missouri Senators on state of their state
Missouri Sen. Kit Bond tells Kai Ryssdal about farmers worried about loans for the next crop, public projects on hold and workers losing jobs. Fellow Sen. Claire McCaskill had similar stories, but she also sees cause for hope.
Missouri Senators Claire McCaskill (right) and Kit Bond (www.senate.gov)
TEXT OF INTERVIEW
Kai Ryssdal: This story we're all in the middle of is, of course, economic. But at some very fundamental level, it's going to have to be politicians that get us out of it -- by deciding how much money to spend, or how much more, I guess. And, when Congress convenes in January, figuring out what the new rules are going to be.
On the theory that all politics is local, I spoke with both Missouri Senators earlier this week. Republican Kit Bond voted for the bailout bill and explained to us why.
Sen. Kit Bond: Certainly, farmers in Missouri who depend on getting loans in the spring to plant their crops are worried that when the time comes around for them to seek those loans, they won't be able to get it. St. Louis is delaying selling $100 million in debts to finance renovation at the airport. Kansas City is unable to sell debt of $200 million to rebuild the water systems. So all these are very important infrastructure projects that provide good wages and there are no jobs because there's no money to finance the project.
Ryssdal: You know you can't get, Senator, much farther from Wall Street than central Missouri, figuratively speaking anyway.
Bond: Well, that's where I am. I'm at the farm bureau in Jefferson City, Mo.
Ryssdal: Do those farmers, though, understand the connection that you and others in the Senate tried to make between the rescue package and their daily business lives.
Bond: I think you can say that none of them like it, but most all of them recognize it needs to be done.
Ryssdal: Let me ask you one more question Senator, before we let you go, since we're on the topic. What are you going to do come January or February, if the administration comes to you and says, you know what, we need more bailout money?
Bond: Well, I'd want to find out what they've done. They're going to have the congressional oversight. The first thing they need to do is get the regulations proper; I'm going to be introducing regulations to make sure that government sponsored enterprises -- Fannie Mae and Freddie Mac -- are appropriately regulated. They have not been and that's part of the problem. I, for one, am going to be very interested to see how well they're doing, because a lot of it depends upon their doing it properly to make sure it gets us out of this situation and that the taxpayers are protected.
Ryssdal: Sen. Kit Bond, Republican of Missouri. Senator, thanks so much for you time.
Bond: Thanks very much.
Ryssdal: Sen. McCaskill, good to have you with us.
Claire McCaskill: Thank you.
Ryssdal: Where'd we track you down today ma'am?
McCaskill: I'm actually in St. Louis. I just arrived here from doing an event with Joe Biden in St. Joseph, Mo. earlier this morning.
Ryssdal: What are folks telling you there in St. Louis about how they're feeling about the economy and the markets?
McCaskill: It ranges between fear and anger. We have been one of the big auto-making states, domestic auto production in the country, and there are thousands of people that are losing their jobs -- long, proud auto workers that are losing their jobs in the St. Louis area as we speak. So, there's a lot of unease.
Ryssdal: I'll ask you the same question I asked Sen. Bond when I had him on the line: What is not getting done in St. Louis and across Missouri because of this credit problem?
McCaskill: There's a lot of development that's not happening. There's a lot of public projects -- you know just something as simple as building a bridge or a bond issue, new hospitals, or to build a school.
Ryssdal: Obviously, that keeps that developer up at night. What keeps you up at night?
McCaskill: You know what I really worry about? I really worry about people like my mom, who's 80 and all of her circle of friends that are calling her and saying, you know, what does Claire think? what does Claire think? You know, for young people the market will recover. For those people who are at or near retirement, it's a whole different matter and I have a sense of urgency about trying to help them.
Ryssdal: How much time though, do you think we have before some of your younger constituents really start having problems?
McCaskill: You know, I think this time next year we'll be looking over our shoulder; I think things will be better this time next year. We've got a perfect opportunity here and a win-win-win situation to look at job growth in the alternative energy sector because I think it helps on so many different levels. I think you'll see banks begin loaning money again, and once that happens, then the ingenuity and the work ethic of the American people will go a long way towards helping this problem.
Ryssdal: Claire McCaskill, Democratic senator from the state of Missouri. Senator, thanks for your time.
McCaskill: Thank you.
Comments
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From Kansas City, MO, 03/04/2009
I agree whit Mr.Davis I think it is a fantastic idea .I vote yes.
From Ozark, MO, 11/14/2008
Recently, I received an email which has been circulating on the internet. The writer was a Mr. Art Davis, whom I do not know, but who drafted an idea on how to solve the financial crisis?
He suggested giving every bono-fide U.S. Citizen (age 18+) $425,000. The U.S. population is approx. 301 million; I would assume approx. 200 million are 18 and over. That would be 85 billion dollars in taxpayer money which would also be taxable at approx. 30 percent ($127,500). The tax money being returned to the government would reduce the government’s outlay to $59.5 billion. This would also leave every adult citizen with $297,500 ($595,000 to a husband and wife) to spend.
Our citizens could use it to pay-off their mortgage, buy a new home, buy a new car (save the auto industry), pay-off credit cards, pay-off college loans, open a new business, expand a business, pay-off medical bills, put money into the stock market to get it growing again, put money into savings for retirement, start a college fund for your kids and etc. It would also get people off the unemployment line which would save millions of dollars in unemployment compensation, and get homeless individuals and families off the streets and into homes, the benefits are endless.
Why give 700 billion to the very institutions whose greed and mismanagement got us into this mess and with no way of controlling where the money goes once they get it. If President Elect Obama believes in growth from the bottom up, this is how to do it. So, if you agree with the Davis Plan, call or write our elected officials and tell them.
Forrest Silver
Ozark, MO
From florissant, MO, 11/11/2008
If the big automobile companies are given a bail-out and we have to pay for their employee's health and pension plan ,I will never again purchase an american automobile or truck. I presently am a small business owner and have 12 vehicles,but none of them will be American made if we get hosed on this one.
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