[Congressional Record Volume 149, Number 2 (Wednesday, January 8, 2003)]
[House]
[Page H66]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      PRESIDENT'S STIMULUS PACKAGE

  (Mr. PALLONE asked and was given permission to address the House for 
1 minute.)
  Mr. PALLONE. Mr. Speaker, I just want to say how disappointed I was 
with the President's so-called economic stimulus package that was 
announced yesterday. First of all, there is no immediate jumpstart to 
the economy, and this is just more of the same: Tax breaks essentially 
to the wealthy, to corporate interests, and very little that means 
anything for the average American.
  Mr. Speaker, we have a tremendous problem with an economic downturn. 
We have more and more people who have lost their jobs. This is not the 
time to continue the same failed economic policies. The Democrats have 
talked about basically giving money back to consumers in the form of a 
rebate. We have talked about extending unemployment compensation for at 
least 26 weeks. In addition to that, our plan is a real economic 
stimulus. It gets the economy going again and does not basically put 
together long-term deficits.
  If you listen to what the President and the Republicans have been 
proposing, it is just going to put the economy and the Federal 
Government into debt even greater, as much as $2 trillion perhaps over 
the next 10 years. Why do we continue with the same failed Republican 
policies? Let us do something that gets people back to work, that 
creates jobs, that gives some money back to the States because the 
States have so many problems now with their own deficits. The Federal 
Government has to do something now that is going to make a difference 
for the average American, and that is not what we are hearing from the 
Bush administration. We are just hearing the same thing about giving 
more tax breaks, eliminating dividends with regard to stocks. These 
things are not going to do anything in the next year to actually help 
the American people. In fact, I am very fearful that there is a 
potential that the economic situation even gets worse unless we get 
together on a bipartisan basis.

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