DeMint: Bailout Bill Is ‘Pure Socialism’

Sen. Jim DeMint (R-S.C.) said Thursday he won’t filibuster the financial bill, but is leaning against the financial bill and described it as “pure socialism.”

“No, but I have said that I’d like a chance to read it and to make sure we let the American people know what it is, so it’s not a secret vote,” DeMint told reporters after leaving a Senate GOP lunch attended by Sen. John McCain (R-Ariz.).

DeMint, a staunch fiscal conservative, also defended McCain against Democratic claims that McCain’s presence at the Capitol Thursday was interfering with delicate, last-stage talks on the financial bill. DeMint said McCain has particularly helped persuade reluctant House Republicans to support the bill.

“I think the fact that McCain drew so much attention to theis has really helped people make some decisions and work together,” DeMint said. “What we’ve done is been able to move away from the president’s plan, which I think is just pure socialism as far as government-run economy. We need to move back from that, and hopefully we can use loans. I hope McCain will talk about the need for Treasury to do this as loan system that help these banks work out of this mess rather than a bailout solution where we’re throwing money at it.”

–J. Taylor Rushing