U. S. Congressman Jeb Hensarling (TX-05) provided an update on his congressional work during the past several weeks to Cherokee County residents today.
"I spent the last month in Washington leading the charge against the Paulson plan so that taxpayers would not have to bailout the mistakes made by Wall Street," said Hensarling. "Two of the most important issues facing this Congress happened to climax all at once: the current financial crisis and energy independence. While Congress was considering the Paulson plan, Americans were finally able to celebrate Energy Freedom Day when the offshore drilling moratorium was allowed to expire. This was a significant victory on an issue I've been working on for a long time."
Hensarling said, "My top responsibility as an elected official is to protect families and people in East Texas who trusted me to represent their interests in Washington. This problem that began on Wall Street quickly moved to Main Street. I did not take lightly the critical nature of the credit crisis that our capital markets face today and the grave situation that every American will face should our credit markets freeze and remain frozen.
"From the beginning, I have said that inaction during this crisis was not option. As much as it pains my principles, I knew that some temporary form of the full faith and credit of the United States was necessary to address the crisis. I understood that without action, many East Texans might find themselves laid off from their jobs, unable to refinance their homes, or perhaps find their credit cards rejected as they attempted to buy food or groceries."