Goodlatte unhappy with time off after bailout vote

Sixth District Rep. Bob Goodlatte said Tuesday that if he were speaker of the U.S. House he would have had members busy working after Monday’s failed $700 billion government bailout vote rather than taking a couple of days off.

The Roanoke Republican, who is seeking his ninth term, also said he voted against the bailout after consultation with bankers in his district and others, and hearing from hundreds of constituents who are opposed to a taxpayer-funded bailout of troubled financial institutions.

Goodlatte favors some kind of market solution. The congressman said more government spending is not the answer.

“People are concerned about the overall economic situation. We have problems with excessive government spending, and we have $2 billion a day going out of the country to buy foreign oil,’’ he said. “These are serious concerns.”

Goodlatte said House Speaker Nancy Pelosi needed a backup plan after the House defeated the bailout plan 228-205 Monday.

“When you know the whole world is watching, you need to plan how to proceed if things don’t go as leadership intended,’’ Goodlatte said. “I think it was important to announce how to proceed. It would have helped.”

While Congress recessed Tuesday and Wednesday for Jewish holidays, Goodlatte said other members could have held hearings to answer questions and build a consensus.

It is up to the Democratic leadership to resume the discussions, and for both Republicans and Democrats to work in a bipartisan way, he said.

Goodlatte said the problems with a taxpayer-funded bailout include the long-term implications of it. He said there has been no suggestion of spending cuts to offset the large amount of debt.

“It’s a huge addition to the national debt and over a long term, it could have an inflationary impact,’’ he said.