[Congressional Record Volume 155, Number 28 (Wednesday, February 11, 2009)]
[Senate]
[Page S2092]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              THE STIMULUS

  Mr. McCONNELL. Madam President, yesterday the Senate cast one of the 
most expensive votes in history. We have heard a lot from our friends 
about the dangers of deficits over the last few years. Yet the Senate 
this week voted to spend more than $1.2 trillion, including interest, 
over the next 10 years. The projected annual budget deficit for this 
particular fiscal year is also $1.2 trillion. We are told, of course, 
this is just the beginning. We have known for weeks the Treasury 
Secretary is planning a financial rescue plan. We still don't know the 
cost. Apparently, the sticker shock would have been too much to take, 1 
day after the Senate voted to spend $1.2 trillion on a stimulus--all of 
this on top of the $400 billion Omnibus appropriations bill we will 
soon vote on, which will bring discretionary spending for the Federal 
Government for the very first time to over $1 trillion this year.
  Americans are wondering how we are going to pay for all of this. 
Judging by the market reaction to Secretary Geithner's announcement 
yesterday and the newspaper editorials this morning, it is clear 
everyone is looking for a little more detail. With that in mind, the 
importance of a thorough review of the administration's budget is all 
the more important, so we know the totality of what the administration 
is asking of taxpayers.
  Any parent knows you don't buy a new car and plan the summer vacation 
before you set the family budget for the year. I think Americans would 
like to know exactly how the administration plans to pay for all these 
things in the context of all the normal annual spending.
  In the 24 days Congress has been in session this year, Congressional 
Democrats have agreed to spend more than $50 billion a day. Americans 
know they have a limit on their spending. This week they are wondering 
what the Government's limit is.

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