Congressman Rogers Floor Statement on the Pelosi-Obey Stimulus Bill

Press Release

Congressman Rogers Floor Statement on the Pelosi-Obey Stimulus Bill

Today, Congressman Harold "Hal" Rogers (KY-05) made the following remarks regarding H.R.1, the American Recovery and Reinvestment Act. Rogers highlighted the enormous debt the "stimulus" bill would create and emphasized that the burden will fall to future generations. The bill is currently in conference and the final package is expected to be voted on by the House and Senate later this week:

"Instead of engaging in constructive solutions to address the economic crisis gripping the nation, the Majority chooses to take advantage of it - using fear tactics to try and shame us into supporting over a trillion dollar spending package loaded with questionable programs that have nothing to do with getting the American people back to work.

"At the end of January, the federal debt stood at a whopping $10.6 trillion, a third of which was held by foreign nations, namely communist China. This month the Treasury has already announced a record debt sale- thanks in part to our failed $700 billion Wall Street bailout. A staggering $941 billion was added to our children's tab this year alone - and with passage of this latest package, the federal debt will reach a record breaking $13 trillion by the end of FY09.

"While the Majority celebrates over this so-called "stimulus" package- the affects of this bill will be the opposite. Interest rates will soar, inflation will rise, the value of the dollar will plummet. The world has never seen a nation borrow so much money in the span of just a few months. Any temporary gains or glamorous headlines brought on by this stimulus bill will soon be forgotten when the recession deepens and our children bear the long term effects of a massive government spending spree."

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