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Pelosi Talks Taxes
In a conference call on the economic stimulus package, which the House is expected to vote on tomorrow, House Speaker Nancy Pelosi responded to questions about the cost of the legislation, priced at $825 billion.
Issues, like food stamps and unemployment insurance, which affect so many people in the states and are, as you said, necessary at this time when funds are short, but the economy is down, actually have the most stimulative effect on the economy, food stamps first, unemployment insurance next, and infrastructure after -- and it goes on from there. Actually, those investments bring a bigger return than the tax cuts, but tax cuts where we have them to the middle class we think will give us our -- our biggest -- our biggest return.
Boehner: CBO Says Dems Are Spending Too Much
House Minority Leader John Boehner circulated a letter from Congressional Budget Office (CBO) Director Douglas Elmendorf to Rep. Paul Ryan (R-Wisc.) expressing his concerns about the cost of the stimulus package. The federal government's interest costs "related to the legislation would amount to $347 billion between 2009 and 2019, bringing the total of the congressional Democrats' massive spending bill to more than $1.1 trillion," said Boehner.
It would be irresponsible to pass this massive debt onto our children and grandchildren, and Republicans will continue fighting for their interests - and the interests of all taxpayers. President Obama began this process with the hope of producing a bipartisan plan to create jobs. What congressional Democrats have put on the table is a wasteful and unfocused package that will create plenty of government programs and projects - but not nearly enough new, good-paying jobs. The American people deserve better than the one trillion dollar spending bill that the House will vote on tomorrow, and Republicans will continue reaching out to President Obama to craft a plan that reduces wasteful spending and helps create jobs through fast-acting tax relief for middle-class families and small businesses.
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