House Republican Whip Eric Cantor’s office has put together some thoughts about the proposed stimulus plan.
Given the size of the stimulus being discussed, non-partisan budget experts are now predicting a deficit for 2009 of almost $1.3 trillion; triple the current year’s deficit. That would equal 9% of GDP, which is a 50% increase over the post WW II record of 6%.
And where is this money being spent?
$35 million for a music hall of fame in Florissant, Missouri; $55 million for a mob museum in Las Vegas; $20 million for a minor league baseball museum in North Carolina.
And what about the purported 3 million new jobs?
600,000 will be in government, which is half of the current civilian non-postal federal employment. (Talk about government expansion.)
What about tax cuts?
Much of it is actually payments to folks who don’t pay taxes.
Kinda sounds like spending to me.
Ah, a new era of fiscal responsibility. I am so glad “change” has come to Washington.
Of course, we’re only here because the GOP blew their opportunity to be fiscally responsible when they were in the majority. Judging from this post though, it would appear the GOP learned its lesson.
So, what of a GOP counter proposal? The Hill is reporting that it could come next week.
Regarding the Democrats proposal, Cantor had this to say:
“We are about to engage, if we are not careful, into risky business,” said Minority Whip Eric Cantor (Va.) who participated in Monday’s meeting with President-elect Obama and leaders of both parties on Capitol Hill.
“Anytime you are proposing over a trillion-dollar spending package, there is a potential that we could load up the next generation, that we could threaten the future of the critical programs like Social Security and Medicare,” Cantor said
