So much for the bailout

The Dow Jones industrial average plunged more than 700 points today, falling below 10,000 for the first time in four years.

Can we get Nancy Pelosi and Harry Reid to the microphone to explain why the $700 billion bailout plan they pushed through Congress on Friday pushed Wall Street over the ledge today?

Pelosi, Reid and the Democratic majorities in Congress have to be swept out on Nov. 4 or this country is headed into a prolonged and painful recession. George W. Bush will be gone in January. Voters also need to send Pelosi, Reid & Co. packing.

Pennsylvania Congressman Joe Pitts voted against the bailout bill, The Emergency Economic Stabilization Act of 2008.

From Pitts:

"This week, Congress had an opportunity to try again to do this correctly. Instead, the Senate sent the House a bill full of tax breaks for special interests, unrelated provisions, and only minor improvements. Instead of earning more votes by improving the bill, the Senate bill bought votes by adding "sweeteners." The crisis we are facing is real. However, in this country I believe market problems should be addressed with market-based solutions. This bill is a big-government approach that increases the federal debt limit to $11.3 trillion, in order to create a quick fix. It gives unprecedented power to the federal bureaucracy. There are no reforms in this bill to correct the mistakes that caused this crisis. It does not address the basic problem. It does not adequately protect the taxpayer.

For a thorough explanation of his vote and what the real problem is with the U.S. economy, follow this link to a memo Pitts released.