There Will Be No Private Sector Stimulus with Public Sector Spending
ICYMI: Cantor: Democrats’ Spending Bill Is “The Old Way Of Doing Things”
February 11, 2009
Contact:Brad Dayspring
202-226-5249
“Look at what the product is that has come out of the House and the Senate. You’re talking about the old way of doing things. Speaker Pelosi has yielded this process to the spenders that want to see these government programs increase – who’ve had a wish list for several years that has not been tended to. They have dumped all those programs into this bill and that is why I think you’re seeing the American people say wait a minute.” – House Republican Whip Eric Cantor, CNBC, 2/11/09
House Republican Whip Eric Cantor (R-VA)
Interview On CNBC
February 11, 2009
http://www.youtube.com/watch?v=8besLsM4sfU
CNBC’s Beck Quick: “We know that at this point though, these two bills are going to head to conference, what’s going to happen in this conference?”
Rep. Eric Cantor: “I’m hopeful that the conference will produce a bill that actually accomplishes the stimulus that we’re all aiming for. The problem right now, even with the Senate bill, is there’s an extraordinary amount of money. These are the largest spending pieces of legislation ever in the history of this country, and I think that what is going on with the folks around the country is they’re taking a look at this and they’re saying that you just can’t buy the trust of the American people. And the amount of spending in here that is not targeted to stimulate the economy that will not produce jobs is just staggering. Many analysts look at this and sort of scratch their head and say, how can it be that only 12% of a stimulus bill will actually result in job creation?
“So we in the House, as Republicans, went to work. Leader John Boehner said let’s put a plan together. He and I took that five-point plan over to the White House and we presented it to President Obama. And in fact when he saw our plan, he said, look there’s nothing crazy in here. Our plan is really focused on providing tax relief to small businesses. There’s no question, that’s where the job creation will start again and when we weigh that against the attempts to borrow more money and spend it at the government level, I don’t think there’s any question as to what would result in more jobs.”
Quick: “Although, Congressman, once things get into conference, we know that the Senate stripped out some things. They took out $40 billion of spending that was to go to the states. The President said he’d like it see that included back in. Once things get to conference, how likely is it that you’re proposals are going to make it in if it couldn’t make it in, in either of these bills?”
Rep. Cantor: “We’re continuing to try and influence the process. There’s no question that it’s likely – the spending bill is likely to get even larger and the focus has got to be on what actually is going to preserve, protect and create jobs. And that’s why we continue to say, small business tax relief is where we ought to be focusing much more of the expenditures in this bill because frankly spending money on new government programs, there’s $130 billion in new government programs, not tested. There’s hundreds of billions of more dollars that are funding existing programs that we know are not the most effective programs.”
Quick: “But how likely is this to happen in conference? How is the conference process different than what’s already happened on these two bills on either side of the Congress?”
Rep. Cantor: “The difference can come if President Obama would impose upon Speaker Pelosi and Leader Reid to actually put some common sense back into the process.”
Quick: “Do you think that’s going to happen?”
Rep. Cantor: “We’re hopeful. And the President has indicated that the bill is not perfect. That it is a work in progress. He’s off around the country doing what he does best, talking to the American people and promising change in Washington. The problem is Leader Reid in the Senate and Speaker Pelosi haven’t yet risen to the standard that President Obama has set.”
Rep. Cantor: “Look at what the product is that has come out of the House and the Senate. You’re talking about the old way of doing things. Speaker Pelosi has yielded this process to the spenders that want to see these government programs increase – who’ve had a wish list for several years that has not been tended to. They have dumped all those programs into this bill and that is why I think you’re seeing the American people say wait a minute.”…