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By Jim McNally | Statesville R&L
January 24, 2009

As Congresswoman Virginia Foxx begins her third term in office, she stopped by the R&L to talk about the bailout bill, the inauguration, the new president and some other issues.

Bailout (TARP)

Despite the fact that legislation she put forth to withhold $350 billion in bailout funds failed to pass a vote in the Senate, Foxx felt good that she at least tried to stop the second half of that money from being allocated.

"People forget that TARP (Troubled Assets Relief Program) started out as a three-page deal," Foxx said. "Literally, (Treasury Secretary Henry) Paulson came over with this three-page proposal and said, 'Give me $700 (billion).' "

Foxx said Paulson's estimate about the amount of relief needed was arbitrary.
"They pulled that figure out of nowhere," she said. "Then they came back with a 420-page bill and they might as well have kept it three pages."

Nonetheless, Foxx said, she and her staff read the bill and discovered that if legislation was added to the bill, the second half of the relief package could be stopped if Congress decided that the first half of the money was not spent wisely.

So she introduced the legislation calling for vote before the second half could be released. The House of Representatives version' of her legislation passed Thursday. But, by then, the Senate had already voted to approve the second wave of funding. But Foxx was glad to have done it.

"It shows that if you are on your toes and you're paying attention, you can be effective, even if you are not a senior member," she said. "It shows that one person can make a difference. It was a great experience for me."
Inauguration

Foxx attended the inauguration of President Obama, but was battling a virus and could not stay outside long during the event.

"But it was a festive place to be," she said. "And the stories you hear about everybody having been so nice to each other were absolutely true. The streets were full, but everyone was pleasant."
President Obama

Foxx said she is skeptical about the new president's first few acts in office and the plans he has spoken of about Iraq.

"I think things are definitely going to be different under Obama," Foxx said. "There is going to be a lot more emphasis on social programs and, I think, less emphasis on national security. One of his first executive orders was to close (the prison at) Guantanamo and I'm very concerned about that."

Foxx also does not think the troubles Obama is inheriting, from an economic standpoint, are as bad as they are being made out to be.

"I get mad when I hear people say that this is the worst economy ever or the worst since the Great Depression," she said. "They must have forgotten about the 1970s when there were gas lines around the block and interest rates near 20 percent. And they say that if you don't remember the past, you're condemned to repeat it."
Foxx says that while the differences between former President George W. Bush and Obama may be clear, looking for a major overhaul in the White House may be looking for too much.

"A lot of people are actually questioning how much of change is actually going to take place," she said. "I mean 75 percent of the people Obama brought in are Clinton retreads. And, as I said, I'm not sure he understands the threat to national security."

But is Obama going to make things happen in Washington?

"So much depends on what gets passed in Congress," Foxx said. "The president is really limited in what he can get done. It has to come out of Congress."

New Ranking

When the 111th Congress was seated, Foxx's seniority ranking had risen to number 300, out of the 435 House members.

She said that when she first entered the House of Representatives following the 2004 election, her number was 412.

"So I've moved way up," she said.