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Sen. Jim DeMint, a South Carolina Republican who announced his opposition to the bailout Monday, said he simply doesn’t believe Mr. Paulson when he says it will solve the market problems.

“His predictions have been consistently wrong in the last year,” he said. “It’s a sad fact, but Americans can no longer trust the economic information they are getting from this administration. … There are much better ways of dealing with this problem than forcing American taxpayers to pay for every asset some investor doesn’t want anymore.”