[Congressional Record Volume 155, Number 22 (Wednesday, February 4, 2009)]
[House]
[Page H926]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         STIMULATE THE ECONOMY

  (Mr. JACKSON of Illinois asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. JACKSON of Illinois. We need to pass a stimulus conference report 
that stimulates the economy. We need to combine the best of public 
oversight and private spending in public-private partnerships to build 
and, in some cases, rebuild public infrastructure. This stimulative 
spending should be encouraged by Federal and State stimulus programs 
and bills.
  But here's what we have to look out for. Public-private partnerships 
are different than private-public partnerships where the private sector 
tells the public what is in their best interest. Do not confuse the 
two. It doesn't work.
  Do not confuse public-private partnerships with quasi-public-private 
partnerships. They are not the answer. They lack public accountability 
and can be rife with corruption. Only by achieving the best in publicly 
accountable oversight in public works projects, with private capital, 
can the balance be struck and we create jobs.
  Today, the President will limit executive compensation for executives 
of companies that take advantage of taxpayer bailout funds. This is the 
right thing to do. However, the relationship between the public sector 
and the private sector should not be an afterthought, and the private 
sector cannot demand its own rules while using taxpayer funds.
  We are slowly getting to the idea, Madam Speaker, of public-private 
partnerships as a way of bringing government, business, and labor 
together. It's time to establish a new American paradigm.

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