[img_assist|nid=3725|title=U.S. Rep. Paul Hodes, Jennifer Horn debate at New England College|desc=Photo Credit: PolitickerNH.com|link=none|align=center|width=420|height=315]

HENNIKER-- In their first debate, 2nd Congressional District nominees Paul Hodes (D-Concord) and Jennifer Horn (R-Nashua) both said at an AARP debate that they have questions about a recent purposed bailout of the nation's financial institutions.

Hodes said he will support the bill if there is a benefit to taxpayers, while Horn said she remains undecided on the bailout, but argued that the government must reign in spending.

"We need to make sure the taxpayer is invested, we need to make sure the taxpayer is protected," Hodes said. "This just can't be a bailout of Wall Street without benefiting Main Street."

Horn said the government must reduce its spending.

"The core of this problem that we have is a growing economic problem that starts with the government getting its fiscal house in order, the government spends too much money it does not leave enough money in our pockets," Horn told the audience at New England College. 

Most financial analysts believe the current crisis was initiated by a number of home foreclosures that began a ripple effect on major financial institutions which had not been heavily regulated.

Hodes called the nation's regulatory system "depression era" and should be reformed. Horn said Hodes, a member of the House Financial Services Committee, should have sponsored legislation to increase oversight over the markets.

The most contentious part of the debate came during a debate over tax reform. Hodes said Horn supports a seventeen percent sales tax that would negatively affect seniors. Horn supports a flat tax on income not sales.

"He just doesn't get it, it's not a sales tax, it's an income tax and there's a line that you draw so that people literally pay nothing, does that make it easier for you to get it," Horn quipped.

Hodes responded, "it would be skewered to hurt people who are on fixed income and at the lower end of the scale, that's the simple fact. It's not going to work,"

The two also discussed Social Security, prescription drug costs and the cost of health care.