February 4, 2009
Posted: 10:10 AM ET
by Tom Coburn, U.S. Senator from Oklahoma
As the Senate considers a massive $1.1 trillion stimulus bill, it is vital that the American people ask hard questions of their elected officials. When they do, it will become very clear that the bill will not only fail to stimulate the economy, but could seriously delay economic recovery.
As a nation, we got into this mess by spending and investing money that didn't exist. We won't get out of it by doing more of the same.
Yet this is precisely what this bill proposes we do. Less than 10% of the bill could be considered true stimulus, if one assumes tax credits and infrastructure spending will jolt the economy. The other 90% of the bill represents one of the most egregious acts of generational theft in our nation's history, with taxpayer money going to special-interest earmarks, an ill-conceived bailout to states, and permanent spending increases that expand government's reach in areas like health care and education.
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