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Public Statements

Stimulus: Business Growth, Not Spending

Floor Speech

By:
Date:
Location: Washington, DC

Mr. KINGSTON. Madam Speaker, on January 9, 2009, then President-Elect Obama stated that ``[t]here is no disagreement that we need action by our government, a recovery plan that will help jumpstart the economy.''

I rise today to submit to the Record the following list of economists, compiled by the CATO Institute, that disagree with the President's remarks. Along with these economists, myself and my colleagues from both parties believe that increased government spending and higher taxes deter productivity instead of encouraging development. History has shown that an increase government spending does not solve problems. The way to solve our problems is to lower taxes across the board, encourage investment, and restore fiscal responsibility in the White House and Congress. Passing the burden of deficit spending to our children and grandchildren does not lead to a brighter future. We need a policy based on facilitating business growth, not government spending, to reinvigorate our economy.

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