[Congressional Record (Bound Edition), Volume 154 (2008), Part 18]
[Senate]
[Pages 24176-24177]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           ECONOMIC STIMULUS

  Mr. BYRD. Madam President, in September, the Senate considered a $56 
billion economic recovery bill, authored by Senator Reid and myself. 
While the bill received 52 votes, the minority succeeded in blocking 
its consideration.
  In the following 2 months, the economy has continued to deteriorate. 
On Monday, Senator Reid and I renewed our effort to stimulate the 
economy and help the millions of Americans hurt by the recession by 
introducing a $100 billion economic recovery bill.
  In response to higher unemployment, rising food costs, higher energy 
costs, State budgets in crisis, and increased dependence on foreign 
oil, President-elect Obama has called for passage of a second stimulus 
bill. I spoke with the President-elect yesterday, and I committed 
myself to helping the President implement his agenda.
  Madam President, it is time to deliver to Main Street USA. S. 3689 is 
a

[[Page 24177]]

$100.3 billion economic stimulus package that would create over 635,000 
jobs. I will repeat that. S. 3689 is a $100.3 billion economic stimulus 
package that would create over 635,000 jobs. The unemployment rate now 
stands at 6.5 percent, the highest rate since March 1994. The 
unemployment rate is up by 1.7 percentage points since October 2007. 
The U.S. economy has lost jobs every month this year--a total of 1.2 
million jobs, with almost half of the job losses coming in the last 3 
months alone. New unemployment claims filed exceeded 500,000, the 
highest number since just after 9/11.
  In order to respond to these grim statistics--and they are grim--the 
stimulus package extends unemployment benefits by 7 weeks in all 
States, as well as another 13 weeks in high-unemployment States. 
Thirty-seven States are facing a shortfall of over $70 billion in their 
fiscal year 2009 budget, necessitating cutbacks in education, cutbacks 
in health care, and cutbacks in law enforcement.
  The stimulus package includes $37.8 billion--that is $37.80 for every 
minute since Jesus Christ was born--to reduce the State's share of 
Medicaid costs by increasing the Federal share--increasing, I say--the 
Federal share by 8 percent.
  The economic recovery package also--I emphasize the word ``also''--
includes a temporary increase in food stamp benefits. These funds--hear 
me now--these funds will be spent quickly, and they will help to 
stimulate the economy.
  Over $37 billion is included for essential infrastructure and 
investment programs. Now hear me, listen closely. I measure each word. 
There are consequences for failing to invest in America. For 8 years--8 
long years--we have failed to make adequate investments in highways, 
transit systems, housing, in clean and safe drinking water systems, and 
in energy independence. This bill funds such investments, as well as 
small business loans, assistance for rural communities, and disaster 
relief for farmers hurt by the hurricanes and the floods this summer.
  I understand, I am sorry to say, there is going to be an objection to 
debating this bill. This would be a mistake. I will say that again. I 
understand there will be an objection to debating this bill. This would 
be a mistake--a mistake. Why? Because it is time to act. Delaying is 
not acceptable. And so I ask all Senators, every Senator, to do the 
right thing for this country--your country, our country--and support 
this measure.
  Madam President, I ask unanimous consent to have printed in the 
Record information related to rule XLIV of the Standing Rules of the 
Senate for title I of S. 3689.
  There being no objection, the material was ordered to be printed in 
the Record, as follows:

                                     CONGRESSIONALLY DIRECTED SPENDING ITEMS
----------------------------------------------------------------------------------------------------------------
                Account                             Project                 Funding              Member
----------------------------------------------------------------------------------------------------------------
       SUBCOMMITTEE ON AGRICULTURE, RURAL DEVELOPMENT, FOOD AND DRUG ADMINISTRATION, AND RELATED AGENCIES
 
Department of Agriculture: Farm         Agricultural crop disaster      ..............  Senators Landrieu,
 Service Agency..                        assistace.                                      Hutchison, and Vitter.
 
                                  SUBCOMMITTEE ON ENERGY AND WATER DEVELOPMENT
 
Department of Energy..................  Extend a certain cooperative    ..............  Senators Durbin and Bond
                                         agreement to carry out the
                                         FutureGen program.
 
                            SUBCOMMITTEE ON FINANCIAL SERVICES AND GENERAL GOVERNMENT
 
GSA...................................  District of Columbia, DHS         $346,639,000  The President, Senators
                                         Consolidation and development                   Lieberman and Collins
                                         of St. Elizabeths campus.
----------------------------------------------------------------------------------------------------------------

  Mr. BYRD. I yield the floor. I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Madam President, I ask unanimous consent that the 
order for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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