Westerman pushes island to fix its debt
WASHINGTON -- Fourth district U.S. Rep. Bruce Westerman claimed a spot Wednesday in the opinion section of The Washington Post.
The Hot Springs Republican used the space to argue against a proposed bailout for Puerto Rico, the U.S. territory struggling with billions of dollars of debt.
Legislation addressing the Caribbean island's financial crisis has been assigned to the House Natural Resources Committee where Westerman serves.
There are two ways to respond to the situation, he suggested. One relies on federal handouts; the other depends on fiscal restraint.
"If you are like my home state of Arkansas that found itself in financial disarray and defaulted on its bonds in 1933, you take your lumps, get a poor credit rating, restructure with caveats like a balanced-budget requirement, and methodically climb your way out to rebuild your economy. ... But if you are Puerto Rico, you anxiously wait to see if the United States will promulgate your welfare state by looking past your poor management, and feed your debt addiction with a taxpayer bailout. I believe Congress must exercise tough love, and compel Puerto Rico to responsibly get back on its feet."
Westerman said that "Arkansas learned from its errors, suffered the consequences, and put in place a plan to never again create a catastrophic budget crisis." He encouraged Puerto Rico and the U.S. Congress to do likewise.
At conference, Hill advises early saving
Second district U.S. Rep. French Hill spoke about the importance of retirement planning Wednesday during an appearance at the Newseum, a Washington museum devoted to the First Amendment and the nation's free press.
The title of the event: "Weathering the Storm: A Forum on Navigating Volatile Markets."
Other speakers included U.S. Sen. Jeff Merkley, D-Ore., financial experts and an official with the Social Security Administration.
The Little Rock Republican serves on the U.S. House Committee on Financial Services. Before his election to Congress, Hill was founder and chairman of Delta Trust & Bank.
"My biggest challenge always as an adviser was getting people to start saving early and be consistent in that savings on a monthly basis," he recalled. "The best advice I've always had for young people particularly is to participate in their 401(k) plan at work."
Speakers at Wednesday's events repeatedly stressed the importance of preparing for retirement decades ahead of time.
State's parks worth visit, Cotton notes
U.S. Sen. Tom Cotton spoke on the floor of the U.S. Senate last week to highlight National Park Week.
The Dardanelle Republican used his time to tout Natural State tourist sites.
"Arkansas is home to several national parks and national historic sites -- some of the prettiest and most interesting in the country, in my opinion. For those of you who haven't been to Arkansas, I encourage you to visit Hot Springs National Park to see our natural springs and thermal pools. If you're a history buff, you can also visit Arkansas Post, the site of the only Revolutionary War activity in the state of Arkansas. If you are into the outdoors you can float the Buffalo River. The list goes on," he said.
The National Parks Service is marking its 100th anniversary this year.
Food distributors recognize Boozman
The International Foodservice Distributors Association presented U.S. Sen. John Boozman with its 2016 Thomas Jefferson Award earlier this month.
"The foodservice distribution industry is pleased to thank Senator Boozman for supporting policies that will help our members grow their businesses," association President and Chief Executive Officer Mark Allen said in a written statement.
An official with Ben E. Keith Co. presented the Rogers Republican with the award. Ben E. Keith has been in Arkansas for decades and plans to open a new 420,000-square-foot facility in North Little Rock next year.
Planning to visit the nation's capital? Know something happening in Washington, D.C.? Contact Frank Lockwood at (202) 662-7690 or [email protected].
A Section on 04/24/2016