Economic Recovery Bill is Good for Rural America

Skelton: Economic Recovery Bill is Good for Rural America

Madam Speaker. As the House considers H.R. 1, the American Economic Recovery and Reinvestment Act, let me express my support for the measure, which would appropriate additional funds for important rural development programs and invest in the future of the United States.

As a rural Missouri Congressman and Chairman of the House Armed Services Committee, I have examined our current economic crisis through the perspective of those who live in small town Missouri and through the lens of national security.

The United States is the world's indispensable nation. To remain so, we must utilize all elements of national power - military, diplomatic, and economic. Should our economy fail, it will dramatically undercut America's military and diplomatic strength and make it far more difficult to properly address international challenges.

To confront the recession, Congress and the President have an obligation to act boldly, yet wisely, to help avert the kind of economic downturn that could have lasting, severe consequences for the American people and for the future of our country.

Our economy has been in decline since December 2007, and the downturn has accelerated in recent months. Consumer confidence and spending have fallen, businesses have shed millions of jobs, housing values have diminished, and mortgage foreclosures have risen dramatically. Economists from all political stripes warn us that without additional stimulus, deflation could sink the American economy for years to come.

While Congress and the Administration have acted over the past year to battle the recession, more must be done immediately to create jobs, to stimulate consumer spending, to promote small business development, and to mitigate the housing crisis.

I am pleased that the economic recovery bill being considered in the House takes important steps toward stimulating the sluggish economy.

The measure would invest heavily in our national infrastructure and in the health, education, and safety of the American people; provide important tax relief for working families and for businesses; and strengthen the safety net for workers who have fallen on hard times.

As someone who represents small town Missouri, I am particularly pleased that the legislation would commit plentiful resources for programs important to rural America, including rural water programs, rural highways and infrastructure projects, school modernization initiatives, Corps of Engineers projects, and Internet broadband expansion.

I also am grateful that the legislation would direct additional funds toward critical military construction projects, including military health care, child care, and housing facilities. These projects are so very important to our military personnel and their families.

While the economic recovery legislation is an important part of our country's effort to stimulate the economy, it should not be perceived as a silver bullet that will cure all economic ills.

Congress and the Administration must continue to examine the global economic turmoil and consider additional legislative solutions to it, especially as it relates to the housing sector. I remain troubled that mortgage foreclosures have risen sharply despite new laws that encourage banks to renegotiate troubled mortgages. The housing crisis is at the heart of our recession and more must be done on this front.

I urge my colleagues to support the economic rescue bill and look forward to working with the Senate to ensure the measure can be enacted swiftly.

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