From Ed Royce via email blast:
Royce Opposes Democrats Unstimulating StimulusÂ
Today, Rep. Ed Royce (R-CA) opposed the Democrat Leadership’s unstimulating stimulus package. The $789 billion legislation, loaded with wasteful spending, passed the House 246 to 183.
Okay, Ed, and you voted how on all of the Iraq funding bills?Â What’s that again, I didn’t hear you, please speak up.
“In February 2008, the House Democrat Leadership enacted a $168 billion economic stimulus package, in June a $260 billion emergency supplemental, then in July, a $300 billion housing bill, in October, a $700 billion bailout, and now, it wants to spend another $800 billion,” said Royce.
Less than 20 percent of the tax relief in this bill can be considered stimulative.
Whether tax relief is stimulative is questionable.Â When the economy is down, most tax cuts get saved rather than spent, both by businesses and individuals.Â Didn’t you study econ in school?
Â Most of the spending in this legislation is social spending, which is of questionable benefit to our economy. This plan now allows for stimulus money to be spent on stadiums, parks, museums, theaters, art centers, and highway beautification projects.
“All nice things but how is borrowing money to pay for this going to help those who are at risk of loosing their jobs or their homes? It appears real economic growth took a back seat to pork-barrel spending,” said Royce.Â
Ed, the stimulus plan has a few bucks in it for a spellchecker for your office.Â Maybe one of those unemployed people will pick up a job from one of the projects in the stimulus bill that funds jobs.Â Funny how this works!
The following are highlights of the 1,000 page bill made available at midnight last night:
- $5.5 billion for federal buildings Â Creates jobs for people to work on building and rehabilitating buildings.
- Â $200 million for Americorps and other volunteer programs Â Pays for job training.Â People who complete a year in Americorps are eligible for some financial assistance for education.Â Education helps people learn a specialized trade, which allows them to earn a better Â living than if they weren’t specialized.Â Ed, didn’t you ever read Adam Smith’s “Wealth of Nations”?
- $8 billion for high speed passenger rail Â Jobs workin’ on the railroad!Â Hey, Ed, maybe if you’re nice and apologize to the conductor he’ll take you up front to the engine and let you blow the horn.
- Â $1.3 billion for Amtrak Â Â Still more jobs workin’ on the railroad!Â The engineer told you to blow what? Oh, he wasn’t talking about the horn on the train.Â Oh, Ed, you need to learn how to be nice to people.Â I always need to take you everywhere twice – second time to apologize.
- $50 million for the National Endowment of the Arts Â Â More jobs.Â Hey, Ed, do you realize that California is a major center for the arts?Â Cal State Fullerton has a very successful TV and film program. And Chapman University also has a film program. Plus all of the dance and theatre programs at the local colleges and universities.Â Ever been to the Performing Arts Center in Costa Mesa?Â It’s really nice.Â No, Ed, that’s Costa Me-sa, not Costa Ri-ca.Â We really need to get you a Thomas Guide!
- $2 billion for neighborhood stabilization fund, providing funds to organizations such as ACORN, which has been accused of practicing unlawful voter registration in recent elections.Â Â This money is to buy up foreclosed homes to help communities not turn into slums. Â People are walking away from their homes, which allows homes to decay and depresses real estate values further. Â And there’s also problems with the abandoned homes becoming places for crime.
“I am concerned with the long term implications of this bill and what it will mean for our national debt. This stimulus package will be met by an increase in our $10 trillion government debt (primarily through borrowing) and an increase in future taxes. The American people deserve much more,” said Royce.
Oh, Ed, Â you have a business degree from Cal State Fullerton, a good school, and still don’t understand econ. Â I know a greatÂ econ tutor – when are you available this week?
Oh, Ed, we deserve much more from you!