Commerce, Justice, Science, And Related Agencies Appropriations Act, 2010
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Mr. KINGSTON. Madam Speaker, first of all, let me say to the majority, I am glad you have offset this money. I think that is a significant step for both parties, to have a spending bill offset. So I want to get that out of the way.
Having said that, I have got to say that I am very leery of another government spending program to address jobs. We are here because last year we spent nearly--well, we did spend $800 billion on a stimulus program that was supposed to keep us from going to 8 percent unemployment. Now we are at 10 percent unemployment.
The stimulus program before just added 31 brand new Federal programs and increased spending. I am ranking member of the Agriculture Committee, and spending in the USDA has gone up 26 percent. At some point we are going to figure out the Federal Government doesn't have the solution for everything.
This is not our only stimulus proposal or jobs proposal. In May of 2008, we had a $168 billion stimulus program that did not work. In March of 2008, the Federal Reserve said, well, we are going to shore up Wall Street with Bear Stearns, $29 billion. In July of 2008, the Democrat Congress and President Bush came in with a $200 billion bailout of Fannie Mae in order to shore up real estate. And not to be outdone, the Federal Reserve weighed back in a month later with the AIG bailout, $85 billion, now up to $140 billion, that was supposed to avert financial collapse, and yet it did not. And then in October of 2008, we had a $700 billion TARP bill. Then in January 2009, under President Obama, we had a $410 billion omnibus spending bill that was supposed to shore up the economy.
Of course, that brings me back to the other stimulus program. After a while, we're going to figure out everything we do is like Cash for Clunkers. It just doesn't work. If we want to help small businesses, we've got to quit spending money, number one.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. NUNES. I yield the gentleman an additional 30 seconds.
Mr. KINGSTON. I thank the gentleman.
Number two, we need to let community banks be released from some of the overbearing and unnecessary regulations in which they have to comply, because that causes them not to be able to lend money and thus small businesses are tied up in a credit crunch. Number three, we've got to let small businesses compete. We set rules. Big Business and Big Government set rules so that small businesses can't compete. There are things we can do. There are things we can do together on a bipartisan basis. We need to vote this bill down so that we can get to them.
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