CFA Urges Opposition to Troika's Spending Package, Will Double-Rate Vote in Ratings

Tuesday, January 27, 2009 6:12 PM

Center for Fiscal Accountability WILL DOUBLE-RATE a Vote Against H.R. 1

The Center for Fiscal Accountability urges all Members to vote against H.R. 1, the “American Recovery and Reinvestment Act of 2009.” Under the guise of “stimulus”, proponents of this bill seek to put taxpayers on the hook to pay for a permanent and massive expansion of government. 

However, there is no reason to believe that this plan will actually serve to “stimulate” the economy. This is old wine in new, bigger bottles – history is riddled with examples of failed experiments with Keynesian government spending sprees.

Taxpayers cannot afford this ill-conceived and bloated bill that would do nothing to stimulate the economy but instead advance a political and costly agenda.  The wasteful spending provisions are abundant in this bill, and range from additional funding for the DTV conversion over the revitalization of the National Mall to increased funding on Amtrak, a bottom-less pit that has long been a drain on taxpayer wallets.  

At a time when taxpayers are struggling to make ends meet, this bill only adds fuel to the fire by giving out political handouts and rewarding spendthrift at the state and local level.  

At least 32 new programs would be created while countless others would be drastically expanded, not to mention numerous provisions that would not only provide no stimulus, but in fact be detrimental to the well-being of our economy, such as the expansion of Davis-Bacon prevailing wage requirements, Internet regulations, anti-trade provisions.

The inclusion of transparency and accountability provisions in the bill – which in its current form are still insufficient and run the risk of being turned into instruments of political spin – do not change the fact that this bill is the wrong prescription for America.

Government cannot create wealth. The only thing it can do, and the only thing Congress should focus on, is to create the conditions for wealth production by reducing overall spending, red tape and enacting meaningful tax cuts.

The Center for Fiscal Accountability will DOUBLE-RATE a Vote Against H.R. 1 in our annual Congressional ratings.

 Click here for a PDF version.

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