Thursday, October 2, 2008
California Senator Barbara Boxer
says she supports the $ 700 billion financial bailout package.
The Senate is debating a revised package before taking a vote later on the bill.
Boxer says without the bailout, California may not be able to borrow money to pay bills.
Boxer: Our treasurer says we won't be able to sell voter-approved highway, school and water bonds that are desperately needed for California's economy and for the creation of good-paying new jobs. He says they just won't be able to get the credit. California also needs access to short-term borrowing from banks to finance our budget.
Boxer made her comments during debate on the financial bailout plan.
Senator Dianne Feinstein says the rescue measure is needed to keep small businesses in California from being frozen out of the credit market.