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Bono Mack Urges President to Address 'Real Problems' Facing Economy


Location: Washington, DC

Calling it more of the "same old, same old," Congresswoman Mary Bono Mack (CA-45) said President Obama's latest plan to create new jobs in America will fall far short of its mark because it relies too heavily on borrowed spending and does too little to improve conditions for U.S. businesses:

"It's sad that this Administration has not learned from its past failures. Albert Einstein once said the definition of insanity is doing the same thing over and over and expecting different results. President Obama spent $800 billion on his first stimulus plan -- that's 20 times more than the federal government spends each year on highway construction -- and it created little in the way of permanent new jobs. How is spending $450 billion more going to be any different?

"I was hopeful that President Obama would offer a serious plan to tackle the biggest problems facing American businesses today, but instead he gave us more of the same old, same old. The best way to jumpstart the U.S. economy is to remove the regulatory roadblocks stymieing job growth and to make our corporate tax rate -- one of the highest in the world -- more competitive with other developed nations.

"In place of that, President Obama offered yet another short-sighted economic stimulus plan which -- despite his assurances -- will only drive up our nation's staggering $15 trillion debt and do little to create long-term employment opportunities."

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