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Every two weeks, I publish an electronic newsletter and email it to subscribers who want to get the latest information about current issues affecting Idaho and the West. Subscribers are also invited to cast their vote in each issue's eVIEWS poll. Results of each poll are published in the next issue of eNEWS.

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Here is Volume 7, Number 03 of eNEWS.
To open a different issue, please select it from the archive following this issue.

An update on issues important to
Idaho, the West, and our Nation
from U.S. Senator Larry Craig

craig.senate.gov/ enews February 8, 2008 Volume VII, Number 3

Debt-Bloating
Stimulus Package

The strength of our economy has been on everyone's mind lately. A dramatic downturn in the housing market combined with a slowing economy have everyone worried about a recession. I have those same concerns, and I think under the current economic conditions it's appropriate for Congress to take action and pass some type of economic stimulus package to put a spark back into the economy.

I have believed all along that we must focus on the real problem in our economy: the housing market. To remedy that problem, I have sponsored a bill providing a $5,000 tax credit for three years to buy homes sitting on the market. Congress provided a similar tax credit in the 1970's when we faced similar economic conditions, and the economy bounced back.

Unfortunately, the economic stimulus bill that the House and Senate passed February 7 did not address this problem, and that is one of the reasons I voted against it. I also opposed the bill because I think it's fiscally irresponsible to increase our budget deficit by $150 billion just to give everyone a few hundred extra bucks to spend. It may help some, but it won't be enough.

I believe that because Congress didn't address the housing market this time around, we will be back in a few months doing this again. Next time, I hope Congress gets it right.

LISTEN
to my response to President Bush's State of the Union.
LEARN
about the Economic Stimulus Plan or other Hot Topics
LISTEN
to my latest Podchat, where Idaho's questions are answered
RESPOND
with your views on this or on any other hot topic

Would you or someone you know use a $5,000 tax credit to purchase a home this year?

A) Yes

B) No

You may prefer to open the online eVIEWS ballot directly in your browser:
http://craig.senate.gov/eviews/

On January 25, subscribers were asked:
How will you use most of the money you receive from the economic stimulus package?

A) Reduce your debt    [24%, 130 votes]
B) Go on vacation   [4%, 20 votes]
C) Pay bills   [26%, 141 votes]
D) Miscellaneous purchases   [15%, 81 votes]
E) Place it in an investment or savings account   [22%, 120 votes]
F) Other   [9%, 49 votes]

Open a window on Washington

My biweekly video digest features highlights of recent legislative activities with insights into what lies ahead on the agenda.

In the most recent update:

Senate passes stimulus package, after first failed attempt to address nation's economic problems.

The Washington Report
[Streaming RealMedia]

Certainly, Americans know how to spend their money better than the federal government does. Still, tax rebates fall far short of the touchdown our economy needs.

- The Red Zone
Senator Larry Craig

More news from the U.S. Senate:

An Idaho Winter -02/07/08
Craig Opposes Debt-Bloating Economic Stimulus Proposal -02/07/08
Craig, Crapo Help States Cover Costs for Undocumented Criminals -02/01/08
Idaho Land Exchange Approved by Senate Committee -01/30/08
Craig Reaction to Bush's State of the Union Speech -01/28/08

Current Event

Art On Display

Visitors to my Washington, DC office have noticed a distinct visual upgrade: new artwork on display, courtesy of the University of Idaho's College of Art and Architecture.
Event Details

Fact or Fiction: illegal immigrants and the stimulus plan

Idahoans have contacted me, concerned that rebate checks from the new economic stimulus bill could be going to illegal immigrants in this country. They are correct, and this only adds to the many reasons why I voted against this bill and opposed its tactic of handing out checks indiscriminately, instead of focusing on addressing the real problems with our economy.

Read more about this issue and others on my Fact or Fiction page.

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