Press Releases

Simpson Opposes Latest So-Called “Stimulus”

f t # e
Washington, December 16, 2009 | comments
“While Idaho families are struggling to make ends meet and one in ten Americans is out of work, the Democrats have been doing everything they can to kill jobs by imposing greater tax and regulatory burdens on our nation’s job creators,” said Simpson. “Businesses in Idaho have told me that they cannot afford to invest in job creation while Congress is debating costly and expensive healthcare reform, cap and trade, and other sweeping and burdensome regulatory reforms that will make it even more difficult for them to survive. Apparently the Democrats don’t realize the key connection between jobs and those who create them. Rather than looking for real solutions to our nation’s economic crisis, they are simply pouring money into old, failed policies.”
share: f t

Idaho Congressman Mike Simpson today expressed his vigorous opposition to the Democrats’ latest spending spree.  Late last night House Democrats unveiled a new $149 billion “stimulus” package that includes bailouts to states and significant new spending for federal programs.  The Democrats also voted today to increase the debt limit by $290 billion.

 

“While Idaho families are struggling to make ends meet and one in ten Americans is out of work, the Democrats have been doing everything they can to kill jobs by imposing greater tax and regulatory burdens on our nation’s job creators,” said Simpson.  “Businesses in Idaho have told me that they cannot afford to invest in job creation while Congress is debating costly and expensive healthcare reform, cap and trade, and other sweeping and burdensome regulatory reforms that will make it even more difficult for them to survive.  Apparently the Democrats don’t realize the key connection between jobs and those who create them.  Rather than looking for real solutions to our nation’s economic crisis, they are simply pouring money into old, failed policies.”

 

The so-called “jobs bill” passed by the House of Representatives today provides approximately $70 billion into programs across government that already received funding under the $789.5 billion stimulus package signed into law by President Obama in February.  In many cases, this additional funding is going to agencies in spite of the fact that only a fraction of this original funding has actually been spent to create jobs. 

 

“The EPA has only spent 6% of the funding it received under the Democrats’ stimulus package earlier this year, but this bill throws another $2 billion into its programs,” said Simpson, who is Ranking Member on the Interior and Environment Appropriations Subcommittee that funds the EPA.  “The EPA received an enormous increase in funding through the regular appropriations process this year, which means that this one agency has received more than two-and-a-half times its regular budget in this calendar year alone.  How can one agency responsibly spend all this money in so short an amount of time?”

 

Simpson also expressed deep concern that the bill takes $75 billion from unspent or repaid Troubled Asset Relief Program (TARP) funds to direct toward new governmental spending.  When TARP was originally created, Republicans insisted that it contain a number of taxpayer protections, including a requirement that any repaid funds be returned to the taxpayer to pay down the national debt.

 

“Unfortunately, Republicans’ fears about TARP have become reality,” said Simpson.  “Now that companies are paying back the TARP payments they received and the taxpayer is making billions of dollars in interest, the Democrats are trying to turn the program from a one-time emergency measure to a permanent slush fund for growing government.”

 

Simpson has opposed nearly $5 trillion in new spending this year and today joined his Republican colleagues in opposing both the stimulus bill and legislation to increase the debt ceiling. Instead, Simpson has supported a number of proposals to reduce taxes on American families and small businesses, create jobs, keep families in their homes, and help them rebuild their savings.

 

###

 

 

 

 

 

 

 

 

 

 

 

 

 

 

f t # e
Tags: Economy

TEXT SIZE