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| Wall Street Meltdown Impacts Lehigh Valley |
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ALLENTOWN
– The latest proof of the failed Republican economic policies came yesterday
when investment bank Lehman Brothers filed for bankruptcy protection and Bank of
America announced it would acquire Merrill Lynch. With the Dow Jones Industrial Average
plummeting, Lehigh Valley families with retirement savings will be hit hard. “For the past eight years, the Bush-Dent Republicans in Washington have been giving hand-outs to Wall Street at the expense of Main Street,” says Gary Ritterstein, Sam Bennett for Congress Communications Director. “Hard working Americans are the backbone of our economy, but the lack of oversight by the Republicans in Washington has put their retirement savings at risk. Worse, when it comes time to making it harder for companies to freeze or eliminate those pensions, Dent says NO. He believes in bailing out corporations, but refuses to help folks facing foreclosure. When it comes to funding $15 billion to help families stay in their home, he votes NO to that too.” In the Lehigh Valley, wages are falling and the wealth gap is growing. Just this year, 60,000 Pennsylvanians lost their jobs, while 24,000 people in Allentown, Bethlehem, and Easton were already without work. “Many folks in the Lehigh Valley struggle like I did before I married my husband Martin. As a single mom, I was lucky enough to be able to pay my taxes, mortgage, and healthcare, but only had 400 dollars left to put food on the table and clothes on my kids’ backs,” says Bennett. "That helped shape my view that we need policies to reward innovation that create real results, competition, and hard work from individuals. And that’s the change I’ll bring to Washington.”
[Worker Pensions - HR 2830, Vote 634, 12/15/05, HR
2830, Vote 635, 12/15/05; Foreclosures - HR 5818, Vote 299, 5/8/08] |