Today, Rep. Ed Royce (R-CA) opposed the Democrat Leadership's proposal, an $825 billion "stimulus" package loaded with wasteful spending. Royce voted against the bill because it failed to deliver much needed economic stimulation or job creation.
"Americans around our nation are suffering. They deserve legislation that spurs investment and creates jobs back home. Instead I have to tell my constituents that the Democrat Leadership decided the solution to this crisis included giving billions to ACORN, a special interest group that has been accused of voter fraud and is reportedly under federal investigation," said Royce.
What started out as an economic stimulus bill turned into an omnibus spending spree. Rather than helping our economy, the bill funds at least 150 different federal agencies, and provides taxpayer money for new government buildings, Americorps, Smithsonian upgrades, Amtrak, Department of Agriculture expansion, and the National Endowment for the Arts.
These massive increases in government spending will not result in a stronger economy and it will not create jobs. Government does not increase "the size of the economic pie," it simply rearranges the pieces. Real economic growth has always and will always come from the private sector.
"Any stimulus package should focus on encouraging private capital into the system rather than redistributing taxpayer money through the government. The deficit is projected to reach $1 trillion and this bill could add an additional $1 trillion to the problem. We should be concerned with the amount of national debt we are loading onto the backs of our young citizens," said Royce.
"In the economic climate we are currently facing, our country deserves better. We need a plan that actually fixes the problem that got us into this mess in the first place."
Rep. Ed Royce is a Senior Member of the Financial Services Committee.
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