Gohmert: Bloated Bailouts Equal Year's Income Tax
WASHINGTON, D.C. - Less than one month into the new Administration, House Democratic leaders have already approved over $1 trillion in deficit spending, first throwing $350 billion at bailouts and now adding about $820 billion on top of that for their pork-laden "stimulus" plan. This staggering amount of money is almost equal to what the federal government will collect in individual income taxes for the entire 2008 year. Rep. Louie Gohmert (R-TX) released the following statement after voting against the Democrats’ costly and misleading “stimulus” bill:
“The Members of this House are agreed that American citizens are in dire need of help in this time when our economy is struggling. With a new Administration and a new Congress, we have the opportunity to affirm the trust Americans put in the leaders they’ve elected. Now is the time for our government to focus on implementing incentives that will create and save jobs for hard-working citizens.
“Although many great ideas were offered to provide relief for our nation, some in Washington saw an opportunity and got greedy. Underneath the guise of buzz words like “stimulus” and “economic recovery,” Democratic leaders turned our nation’s crisis into an opportunity to massively expand the federal government and push through unrelated spending.
“Let’s call this bill what it really is – a bloated spending bill. I had hoped that when President Obama delivered such inspiring speeches about change, we were finally moving away from our past eight years of dangerous deficit spending. Instead, we are actually increasing at an alarming rate our pace down that same road. Now, just two weeks into this new Administration, the House has approved excessive and irresponsible spending that will cost roughly what the federal government collects in individual income taxes for the entire year. For decades, our citizens, children, and grandchildren will have to pay the price for this bill that will fail to significantly create jobs or stimulate the economy at the present time.
“We owe more than that to our constituents and their families. They deserve help, but it is not going to come in the form of this loaded spending bill.”
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