CQ TODAY ONLINE NEWS
Sept. 29, 2008 – 3:20 p.m.And What Does He Think Now?By Catharine Richert, CQ Staff
The Senate’s notorious “Dr. No” said before the House rejected the $700 billion financial bailout bill Monday that he would likely vote for it.
That may come as a surprise to lawmakers who are used to Tom Coburn, a nay saying Republican from Oklahoma, who consistently blocks and votes against big spending bills. He fancies himself a lone voice for fiscal responsibility in Washington.
The bailout, however, is different.
“We don’t have a choice as a country,” he said, but added, “I don’t like the fact that we’re going to have to do this.”
The comments came shortly before the bailout plan (HR 3997) failed in the other chamber. Before the vote, Coburn said he thought it would be “irresponsible” of his House colleagues “if in fact we don’t pass this and we see a big market crash.”
Apparently people back in Oklahoma feel the same. Coburn says local bankers are concerned about the possibility of a larger economic meltdown if Congress doesn’t do something.