U.S. Rep. Tammy Baldwin, D-Wis., visited UW-Madison's Chadbourne Residential College Monday evening, speaking with students on the issues of the economy, energy and heath care.
Baldwin began by briefly describing several actions she said Congress needs to make. According to Baldwin, the first priority needs to be bringing troops home from Iraq.
She also said there is a need for health-care reform, as well as an energy policy that appropriately accounts for national security and economic and environmental effects.
Baldwin opened the floor to students' questions, many of which concerned the economy.
According to Baldwin, there are many misconceptions about the current economic crisis, particularly about who is to blame for the financial meltdown.
The crisis is not due to lenders being forced by the government to make loans to those unable to repay them, but instead stems from Congress' 1995 repeal of a law that required heavier oversight on lenders, Baldwin said.
She said one of the reasons she voted for the recent bailout bill is that heavier oversight, accountability and transparency were added to the version Congress updated. She said President Bush's bill did not have these aspects she thinks are necessary.
The President's original bill was a blank check, and it was appropriate to reject it,"" Baldwin said. ""But this [updated] bill needed to pass to prevent the economic problems we're experiencing from continuing.""
Baldwin said after thorough negotiations across party lines, the bill that passed also allows the government to alter contract terms of mortgages, extending them if necessary so loans that would otherwise be foreclosed can be paid over time.
She said the frustration of the public regarding the economic crisis is appropriate and she was pleased to see protesters even against the bill she voted for.
""[Protesting] is part of being a political citizen,"" Baldwin said, adding it is important that contrasting views are voiced.
