[Re: Paulson's Bailout Proposal]


Thank you . . .



. . for contacting me about the current crisis in our economy. I
wanted to share with you the statement I released on Monday:



After eight years of deregulation and lack of accountability, this
Administration has created the worst financial crisis since the Great
Depression - a crisis that will hurt hardworking American families
across the country because credit markets are drying up and pension
assets are at risk.



I am currently reviewing various proposals to address this emergency and
will work with my colleagues to act prudently and responsibly. I believe
any proposal must put American families first by ensuring the American
taxpayer is protected, strengthening oversight and accountability,
limiting executive compensation, and most importantly, helping families
stay in their homes.



As Michigan faces an unemployment rate of 8.9 percent, record
foreclosures and skyrocketing household costs, we must also work
together to ensure that we are providing relief to struggling families
and creating good-paying jobs across the country. I urge President Bush
to support our efforts to extend unemployment insurance benefits to help
hardworking families and support our retooling program to create jobs
here at home.



Now is the time to come together and do what is right for the American
people.



Thank you again for contacting me. Please continue to keep me informed
about issues of concern to you and your family.



Sincerely,

Debbie Stabenow

United States Senator