Stimulus Package = Fiscal Flop
Since February 17th, 2009, the day the president signed the Stimulus Bill into law, we have seen:
- 1,597,000 jobs lost and unemployment numbers at their highest levels in two decades.
- The president spend billions of your tax dollars.
- Our nation accrue $511.9 billion in new debt.
- OMB and CBO revise the FY2009 Deficit projection to $1.84 trillion.
- The president propose over $600 billion in new taxes – the largest tax increase in American history.
I hand these cards out that itemize the "Nation's Major Fiscal Exposures" to anyone that visits my D.C. or district office.
In my opinion, the president’s Stimulus Bill has been a fiscal flop. President Obama should stop throwing parties and fundraisers out in Las Vegas and start discussing the urgent financial crisis that threatens our fiscal and economic stability. Our government is currently borrowing about 50 cents for every dollar we spend. Medicare is already paying out more in benefits than it collects and Social Security is expected to do the same in less than five years. The total unfunded liabilities for the United States are $60 Trillion, which exceeds the net worth of America. Paying off this liability would require every American to write a check to the Treasury Department for $198,000.
I believe it is time to let Americans keep more of what they earn and for the government to spend less, which is why I supported a budget alternative that would do just that. I have also opposed these massive spending increases, voting against $1.6 trillion in new spending this year and against $2.3 trillion under the Bush Administration. It is time to start trusting and empowering individual Americans instead of the federal government. By taking these steps, our economy will see the growth and prosperity that have defined America for generations.