Buchanan Says Stimulus Spends Too Much, Doesn't Boost Economy

Press Release

Congressman Vern Buchanan (FL-13) voted today against a trillion dollar stimulus bill that wastes too much and does too little to create jobs.

"There is no issue more important than rebuilding our economy and creating jobs," said Buchanan. "I commend President Obama for his focus on the economy and for reaching out to lawmakers on both sides of the aisle. But the bill before us today falls short of his goal to create 3.5 million jobs. It does too little to boost the economy and would do more harm than good in the long-run by exploding our national debt."

Buchanan cited a letter signed by 250 leading economists, including Nobel Laureates, who said the stimulus would bill not help the economy. In addition, the non-partisan Congressional Budget Office said the $769 billion bill would actually harm the economy over the next decade by adding $1 trillion to the existing $10.6 trillion debt.

"This bill is a bad deal for taxpayers," said the 13th District Congressman. "We need a bill that will create jobs by helping small businesses and working families without leaving the country with a massive debt."

According to the best available estimates, less than a penny of each dollar of the stimulus will help small businesses that create most of the jobs. Furthermore, the trillion-dollar spending bill provides little tax relief to workers while saddling every American family with an estimated $6,500 in added debt.

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