Blackburn Votes No' On Democrat Spending Bill
Congressman Marsha Blackburn (TN-7) today voted against H.R. 1, a spending bill Democrat leaders claim would stimulate the economy. The bill, which includes $825 billion in deficit spending, only releases 11% of the funding in 2009. Some of the funding will not be released until 2019. The bill contains little spending that would stimulate the economy in the short term and offers few incentives for small businesses to hire or re-invest. Ultimately, the "stimulus" bill will cost 7th District residents $2,700 each.
"Today many of my Democrat colleagues have argued that the cost of this massive spending bill is less than the cost of doing nothing. If the choice today was between reckless spending or economic doom I might agree, but it isn't. There is no question that the Congress has the will to act. What we need is the wisdom to take the right action. I was initially encouraged by the talk of tax cuts in this bill, but the staggering level of out-year spending quickly dashed my hopes."
"Congress spent over a trillion dollars last year to no avail. If we could borrow and spend our way to economic recovery we would already have encouraging results. Instead, my colleagues have offered a plan to throw more good money after bad. My most serious concern is that when this plan fails to produce the expected results, the market for American debt will be so small, we will not have the resources for additional action."
"History tells us that tax cuts have an immediate and lasting stimulative effect. That is the action we should be pursuing now. Capital gains tax cuts, rebates on sales taxes, temporary suspension of payroll taxes are all ideas with merit. And while American families tighten their belts, Congress must do the same by initiating immediate across the board cuts to non-defense, non-homeland security spending. As it stands, there are no new jobs in this bill, no new ideas, just new spending. The only thing this bill stimulates is the national debt."
Included in the new spending; is $600 million to buy new cars for government workers, $50 million for the National Endowment for the Arts, and $335 million for STD education and prevention. The bill spends $225,000 per job it hopes to create; jobs that are expected to earn less than $50,000 a year.