Created on Monday, 24 May 2010 14:00
Montgomery and Delaware County Congressman Joe Sestak spoke about the economy and his successful Democratic Primary Election challenge to long-time U.S. Senator Arlen Specter Sunday on NBC’s Meet the Press. He said he ran against his party establishment’s choice because he found that the accountability he learned during his military career was missing in Washington.
“Somebody had torpedoed our economy. We were sinking. We had to caulk the holes. We were hemorrhaging jobs. Somebody took the referee off the football field up there on Wall Street. They let them play roulette with the savings of the seniors in my district.”
He also said the federal government needs to do more for small businesses.
“My party has to recognize ‘business’ is a good word when you have ‘small’ in front of it. When you give a 15 percent tax credit to small businesses for every new payroll job that’s created we could, according to the Economic Institute, soak up 5 million of the 8 ½ million unemployed in 2 – 2 ½ years. In short, there are really good private markets out there. We just need fair rules.”
Sestak said the rules at the time of the financial market meltdown favored Wall Street, not small business, and the rules were not enforced. He said he favors effective government, not big government.