Dave calls another economic stimulus package “irresponsible”
As reported by IowaPolitics.com:
Senator David Hartsuch, CPA responded to Federal Reserve Chairman Ben Bernake and Bruce Brailey’s support for another “Economic Stimulus Package.”
David Hartsuch said, “Our leaders, in Washington, clearly do not understand the negative economic effect that increased government spending and taxes would have at this time. If we are in a “credit crunch” with “frozen credit markets” the strategy should be to increase investment rather than promote consumer spending. The government has already authorized greater than $1 trillion dollars in bail-outs and “economic stimulus. If that’s not enough to dampen the flame of American Free Enterprise, what will?”
According to Senator Hartsuch, “By approving the bail-out and the stimulus package, both Ben Bernake and Bruce Braley are pursuing a confused and conflicted set of objectives. If the objective is to increase the supply of available capital, this is definitely not the solution. If the objective is to increase consumer spending, the bail-out was definitely not the solution. Both Bernake and Braley are operating on pure emotion without clear direction.”
On Sept. 23rd, 122 economists, including 2 Nobel laureates sent a letter to Nancy Pelosi in opposition to the bail-out. Obviously, Pelosi and Braley ignored their plea. According to Senator Hartsuch, “If Congress is in the pocket of Wall Street, who needs economists?”
Senator Hartsuch acknowledged the benefits of many of the infrastructure items included in September’s “stimulus Package”, HR 7110. Hartsuch says, “These are the types of legitimate spending items which should be embedded in the normal budget. If government spending were not already out of control, there would be room in the budget to take care of these items without additional spending. It is disingenuous of the Congressional leadership to use legitimate government spending to provide cover to their senseless waste. We need leaders who will cut the fat out of our budget, and say ‘NO!’to special interest groups.”
Regarding the bail-out, Senator David Hartsuch, CPA said, “It appears that Bernake, and Bruce Braley have a confused set of competing economic objectives. Another economic stimulus package at this time is irresponsible, and displays a disorganized approach to economic recovery which will be detrimental to our nation.”
Senator Hartsuch has been critical of the Bush/Braley bail-out, and has significant omissions which he would like to fight for including ending sub-prime lending, funding the FBI investigation of Wall Street, and stopping corrupt campaign contributions from Wall Street.
Dave endorsed by the National Right to Life
Check out the letter of endorsement Dave received from the National Right to Life PAC.
Dear Senator Hartsuch,
The National Right to Life Political Action Committee is pleased to endorse you for election to the United States House of Representatives from the 1st congressional district of Iowa.
The endorsement reflects your commitment to renewing a culture of life, not only in Iowa, but throughout the nation. We look forward to working with you in Congress to restore legal protection for innocent life - unborn children and medically disabled or dependent persons whose lives are threatened by abortion or euthanasia.
The countless Americans who reespect the sanctity of innocent human life appreciate your willingness to serve. This willingness to take up the fight for life in the U.S. Congress makes us proud to endorse you.
Sincerely,
David N. O’Steen
Executive DirectorKaren A. Cross
Political Director
A low achievement bar for Braley
The Gazette has published an article Accomplishments at issue in Braley-Hartsuch race for 1st District. Dave comments on Braley’s achievements, and how they are primarily targeted at special interest groups:
Instead of leading on big issues facing the 12-county district that stretches from the Quad Cities north to Dubuque, then west to Bremer County, Braley has worked on a narrow range of issues, Hartsuch said. They are priorities of trial lawyers who have provided about a third of Braley’s campaign funds, he said.
Braley, he said, sided with trial lawyers on a bill aimed at rewriting rules on when and how the government could wiretap suspected terrorists and their allies.
Braley also supports a bill to allow torture victims to sue Iraq, which Hartsuch said is another thing law trial lawyers want. “If you want to know for whom he works, it’s truly the trial attorneys,” Hartsuch said.
Dave’s record on life issues
Brian in Long Grove has asked that we outline Dave’s positions on life issues. Dave has throughout his time in the Iowa Senate been out front in favor of life. He was instrumental in speaking against the Democrat’s repeal of the human cloning ban. He fought state funding for Planned Parenthood, voting instead that it be given to crisis pregnancy centers. He voted to ban the use of public funds for partial birth abortions. He voted for parental notification in the case of a minor seeking services from “family planning agencies.”
Dave would take these same policies and his passion for protecting the unborn to Washington.
Interview with AgriNews
Dave recently completed an interview with AgriNews. Topics covered include immigration reform, energy and conservation, farming assistance, trade agreements, and health care.
Hartush addresses crisis of confidence
For Immediate Release
The current economic crisis is a crisis of confidence. According to Senator Hartsuch, “I have put forward an economic plan which the public can have confidence in. Congressman Braley has proposed none.”
In a recent article in the Gazette, Congressman Braley shirked responsibility for the bill that he voted for by saying, ”It’s not the bill I would have drafted.” Congressman Braley offered no amendments to the bill, nor did he indicate what he would have changed about the bill. Senator Hartsuch said, “Bruce Braley failed to push for a plan which the public can have confidence in. His failure is irresponsible and indicates a lack of leadership. He displays the same flawed economic reasoning that is so common in Washington. We need leaders who will tell the truth ─ government does not create wealth, but consumes it.”
During his first term in the Iowa Senate, Senator David Hartsuch, CPA has offered many amendments intended to safeguard the public. If he is elected to Congress, he will continue this practice. Senator Hartsuch states, “To be an excellent legislator, it is not enough to merely vote for a bill, you must be a champion for the public good. Unlike my opponent, Bruce Braley, I oppose bailing out greedy CEOs, and I have offered constructive improvements to this bill. The new law fails to protect investors and taxpayers, and perpetuates the risky financial practices which are at the root of our current problems.”
In a press release last week, Senator Hartsuch highlighted improvements to the bill that he will fight for in order to safeguard taxpayers and investors. Senator Hartsuch insists, “We must stop sub-prime lending, fund an expanded criminal investigation by the FBI, provide competent oversight to the bail-out process, and stop campaign contributions from Wall Street. I will restore public confidence in Washington and Wall Street.”
State Senator David Hartsuch, MD CPA will bolster public confidence by bringing a unique skill set to Congress. While Senator Hartsuch is best known as an Emergency Medicine Physician who keeps a cool head under pressure, he is also a certified public accountant. David Hartsuch graduated from Northern Illinois University and worked as a CPA, performing financial analysis of Savings and Loan mergers at the peak of the S&L crisis of the early 1980s. This unique perspective will allow him to better address the issue of the mortgage lending bail-out which will plague the 111th Congress. He will rebuild public confidence in our government and industry.
Press picks up on McCain exclusion of Dave
The press has begun to pick up on McCain’s snub:
- Hartsuch denied chance to address McCain rally, Quad City Times
- Mention of it in McCain rebukes protesters at rally, DesMoines Register
McCain ’08 Shows Gay Pride By Snubbing Hartsuch
For Immediate Release
The McCain ’08 campaign refused to allow Senator David Hartsuch to speak at the John McCain rally today. According to a representative of the McCain ’08 campaign, the national campaign office would not approve Senator Hartsuch to speak because of comments which he had made two years earlier in defense of traditional marriage.
Senator Hartsuch has been a strong defender of traditional marriage in Iowa. He introduced legislation to prevent same-sex marriage and to protect the Boy Scouts of America. Senator Hartsuch is the Republican candidate for Iowa’s 1st Congressional district. His opponent, Bruce Braley, regards restrictions against same-sex marriage to be discriminatory. According to Sen. Hartsuch, “Marriage is not merely the State’s endorsement of a romantic relation, but rather the State’s endorsement of an institution intended to bring up the next generation of children as moral individuals.”
Senator McCain voted against the Federal Marriage Amendment, which would have defined marriage as only between one man and one woman. At that time, Senator McCain called such prohibitions “Un-Republican”, and “inconsistent with the core values of the party.” In 2002, Senator McCain supported Richter Elser, an openly gay GOP candidate for the U.S. House of Representatives by sending a fund-raising letter to Elser supporters. According to advocate.com, McCain wrote, “Our party’s strength, like our country’s strength, comes from inclusion, not exclusion.” Today, social conservatives were excluded.
Customarily, House candidates are invited to address presidential campaign rallies. On McCain’s last visit to Iowa in Cedar Rapids, Marionette Miller-Meeks, 2nd District Congressional Candidate, was offered a place at the podium along with other state and local candidates. Republican U.S. Senate Candidate Christopher Reed was present at that rally, but the McCain ’08 campaign refused to allow him to speak. Christopher Reed has expressed his support of traditional marriage, and has led the fight to defend life by de-funding Planned Parenthood. It is not known why the McCain ’08 campaign would not allow Christopher Reed to speak.
Senator David Hartsuch continues his support of Senator McCain, and believes that he is the candidate who will best safe guard America and promote integrity in Washington. Senator Hartsuch is committed to victory for McCain in ’08, but will also continue his fight for family values in Iowa.
Bettendorf Republican wants to unseat U.S. Rep. Braley
Published by the Quad Cities Online
n Nov. 4, voters in Scott and 11 other east-central counties will chose between giving incumbent U.S. Rep. Bruce Braley a second term in Congress from the 1st Congressional District 1 or electing challenger David Hartsuch.
Rep. Braley, a Waterloo Democrat, said “I think on the night of my first election I told voters of Iowa’s 1st District I was going to listen to their concerns, work hard in Washington and I was going to get things done,” he said.
“I’m very proud of my record of achievements in my first term, but there’s a lot of things I want to get done and continue working on.”
However, Sen. Hartsuch, a Republican state senator from Bettendorf, said he is confident he will get the representative seat.
“I expect to win,” he said. “I believe that Bruce Braley is not adequately representing the interest of the people of this district.”
The Bush / Braley Bailout Fails to Protect Investors and Taxpayers
For Immediate Release
Senator David Hartsuch, CPA is deeply concerned about the gross inadequacies of the Bush / Braley Bailout. The “Emergency Economic Stabilization Act of 2008” does not provide Economic Stabilization as the title suggests. Instead, this is nothing but a buyout of greedy Wall Street CEOs, and offers NO Protection for American Investors and Taxpayers.
The purposes of this legislation should be to stabilize the dollar, safeguard American Investors, protect taxpayers, and punish executives who engaged in fraud. While the Bush / Braley Bailout is laced with pork, the bill does nothing to meet these other essential objectives.
Several provisions are necessary to add true Economic Stability:
- Stop Sub Prime Lending – The current bill does not stop the practices which got us into this situation. Senator Hartsuch will eliminate Sub-prime lending.
- Effective Oversight – The Bush / Braley bailout provides for a five member oversight board including the Federal Reserve Chairman, Secretary of the Treasury, and Director of the SEC. Currently Bernake, Paulson, and Cox fill these positions and are the key insiders of the plan. These three like-minded individuals make up the majority of the board, which will essentially rubber stamp Secretary Paulson’s spending. Henry Paulson, as CEO of Goldman Sachs, was compensated $106.4 million from 1999 to 2006. This should be regarded as a significant conflict of interest. Senator Hartsuch will institute effective independent oversight.
- Criminal Investigation – The FBI has initiated investigations against several financial organizations. Despite the $150 billion in sugar-coated pork, the bill does not provide additional resources for criminal investigations. Given the extent of possible fraud which led to this situation, it is irresponsible to omit this funding. The execution of justice is essential to stability of our credit markets. David Hartsuch will procure funding for ongoing criminal investigations.
- Stop Corrupt Campaign Contributions From Wall Street – The financial sector contributed $339 million to campaigns and political parties in less than two years. Congressmen, including Bruce Braley, have received campaign contributions from the very financial houses that Congress is now bailing out. If Congress is to act in the best interest of the public, this practice must stop. David Hartsuch will stop corrupt campaign contributions from Wall Street.
- Guidelines For Debt Modification – The Bush / Braley Bailout allows for the terms of mortgages to be modified by the court but offers no limitation or guidance on this modification. If the terms of the debt can be re-written by the court as it pleases, the debt securities will become essentially worthless. Such modifications, if left to the courts, provide ripe new areas for litigation and will be a new source of revenue for trial attorneys. More importantly, this constitutes “impairing the obligation of contracts” which our Constitution forbids. Restructuring of debt terms should only be done as part of a bankruptcy proceeding. David Hartsuch will insure that underlying debt obligations will maintain their value and not be rendered worthless by courts or plundered by trial attorneys.
- Mark-to-Market – The Bush / Braley bailout allows certain accounting rules to be suspended in order to make financial organizations appear more profitable than they really are. This causes the value of assets to be overstated and may cover-up the problems of failing institutions. The Financial Accounting Standards Board establishes accounting standards in order to ensure the integrity and comparability of financial statements. Congress should not be allowed to hide the losses of Wall Street by impairing the integrity of our accounting standards. David Hartsuch, CPA will protect the integrity of our accounting standards.
David Hartsuch said, “It is clear that the Bush / Braley bailout is an irresponsible act which fails to protect investors and taxpayers. Provisions of the bill directed at accountability are token gestures which serve as window dressing. Bruce Braley had the opportunity to protect the interest of average citizens, but sold us out to greedy CEOs. By voting for this bill, Bruce Braley has shown his allegiance to Washington, Wall Street insiders, and trial attorneys instead of to the nation and the people of this district, whom he is supposed to serve.”
Senator David Hartsuch, CPA will bring real accountability, transparency, and integrity to Washington. He will not allow the Bush / Braley bailout to threaten the financial security of our nation.
Voters will have a chance to make their voice heard and bring a new direction to Washington by voting for Senator David Hartsuch, CPA.
Senator Hartsuch will be available for interview upon request. For further questions call 563-823-8442 or 563-499-7532.
David Hartsuch is a medical doctor and Certified Public Accountant, which makes him uniquely qualified to deal with the challenges facing our national government. Dave understands our economic issues, and will do what is best for the people of Iowa—not what is best for special interests. He understands our healthcare problems, and have a prescription to solve it. 