Congressman Steve Scalise today made the following statement on the one-year anniversary of the $787 billion "stimulus" bill that promised to keep unemployment under eight percent. Unemployment rates recently rose above 10 percent. Nearly $272 billion dollars have been spent leaving approximately $514 billion as the remaining balance. Scalise has proposed to use the remaining balance to pay down the national debt.
"Rather than growing the size of government, I will continue pushing solutions to help create jobs and get our economy back on track," Scalise said. "The best way to create jobs is to cut taxes, which is a proven way to stimulate the economy and unleash the potential of small businesses and middle class families. Congress needs to stop growing the federal government with failed policies like the "stimulus" bill, and start putting proven plans in place."
In a press conference discussing the one-year anniversary of the "stimulus" bill, President Barack Obama indicated that he will be creating a new federal debt commission.
"The President's new federal debt commission will be nothing more than political cover to raise taxes on the middle class," Scalise said. "Instead of raising taxes on middle class families, the President should be focused on cutting wasteful spending in Washington, and you don't need a new commission to do that. I have proposed solutions that will create jobs and cut the deficit, and the first place we should start is by taking the $514 billion remaining from the failed "stimulus" bill and using it to pay down our national debt."
In addition to Scalise's recommendation to use the stimulus balance to pay down the national debt, he recently introduced the CAP the DEBT Act. With more than 80 co-sponsors, Scalise's bill will help prevent any future increases in the national debt ceiling, and finally move us closer to a balanced federal budget.