-- Randy’s Roundup --

A Weekly Newsletter from Congressman Randy Neugebauer

February 9, 2009

Senate’s Trillion Dollar Spending Spree

Over the weekend, Senate Democrats put forth a plan that will only create more wasteful government spending. Just as I could not support the House bill, I continue to oppose this type of spending because it will not create long-term jobs or stimulate the economy. The so-called stimulus plan introduced by the Senate is no more than a pork barrel, big government spending spree that puts the future of our children and grandchildren at risk.

As the House and Senate work out a final package, I believe we must consider alternatives to big government spending. We will create more jobs through responsible tax relief that encourages families and employers to save, invest and be more productive. Economists tell Congress that tax relief stimulus will increase family incomes and create more jobs than more government borrowing and spending.  I urge my colleagues to consider policies that will do the most to create job and new economic growth rather than policies that only grow government.

Reviewing Treasury’s Implementation Plan

This week we also expect to hear more about the plans President Obama has for using the second half of the $700 billion in financial bailout funds now that the first $350 billion has been committed.

I will be closely reviewing the details as those plans are released by Treasury Secretary Geithner.  However, what we really need is a better assessment of how the funds already released to banks and other financial institutions are being used and whether plans that are already being implemented are effective.  That’s why I opposed releasing these remaining funds in the first place.

On Wednesday the CEOs for the nation’s largest banks will testify in a House Financial Services Committee hearing that I will take part in.  These CEOs need to explain to all of us how they money they received is being used.

Before President Obama’s team announces plans for using the second half of the bailout funds, we need to have more hearings like this one to help determine whether or not existing plans have worked and to determine the best use for remaining funds --- or whether those funds are even needed.

District Work Period

Next week, I will be traveling throughout the 19th Congressional District.  I will be making stops in Lockney, Lubbock and Abilene.  During my trip, I look forward to hearing your thoughts and feelings about the issues that concern you.

For more information on my visit to the district or to check on the latest issues please visit my website www.randy.house.gov.

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As always, when events unfold in Washington, I will be sure to update you. In the meantime, do not hesitate to visit my website www.randy.house.gov, or call my office toll free district wide at (888) 763-1611 or my Washington, DC office at 202-225-4005.