[Congressional Record (Bound Edition), Volume 156 (2010), Part 4]
[House]
[Page 4598]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      DEMOCRAT SPENDING SINCE TARP

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Indiana (Mr. Burton) is recognized for 5 minutes.
  Mr. BURTON of Indiana. Well, you know, Madam Speaker, I was watching 
television today and I saw that the President was down at the White 
House signing the new health bill, and he was getting all kind of 
applause and everybody was just having a big time. Something like 61 or 
62 percent of the American people are wondering why, because what they 
passed was something that the vast majority of Americans don't want.
  So, tonight, I thought I'd come down here. I don't want to rain on 
the President's parade but I would like to talk just a little bit about 
what they're doing to America, because I think it's really important.

                              {time}  1730

  I know, Madam Speaker, I can't talk directly to the American people. 
But if they were listening, I would like to just tell them a few things 
about what's been going on since this guy took office--oh, excuse me--
since the President took office.
  In January of '09, they spent $73.3 billion on the State Children's 
Health Insurance Reauthorization. A lot of people said that was 
necessary, but it was still $73 billion. February 9, a month later, 
they passed the stimulus bill that was going to create jobs and keep 
unemployment below 8 percent. That was $1.16 trillion with interest, 
and that was not successful in keeping the unemployment down. In fact, 
it went way above 8 percent, over 10 percent. It's now down a little 
below 10 percent, but nevertheless, it's still up there much higher. 
But we spent $1.16 trillion on that. Now I can't tell you how many 
zeros are involved in that, but you'll figure it out, America--if 
America were allowed to listen to me, Madam Speaker. They'll figure it 
out when they start seeing all this extra cash flowing around that's 
going to depreciate the value of their money. Then on February 9 also, 
they passed the omnibus bill, the same day that they passed the 
stimulus bill. But that wasn't much. It was only $625 billion, a little 
over half a trillion. And then in June, they passed the defense 
supplemental, which was necessary. That was $106 billion, but they had 
scads of pork barrel projects in there that the President said he would 
not tolerate. Then in December the President passed the omnibus bill, 
the consolidated appropriations omnibus bill, and it was only $3.554 
trillion.
  We don't have this money. We just don't have it. We're digging a hole 
that you just won't believe how hard it's going to be to get out of it. 
Nevertheless, the spending goes on, and on, and on, and on, and I'm 
hoping that America wakes up and realizes what's going on before it 
gets so bad that we have hyperinflation and interest rates that go out 
of sight because they'll try to control inflation that way, like they 
did in the early 1980s, and we see taxes going through the roof. And in 
addition to that, the things I just mentioned, they passed cap-and-
trade through this body, which was $846 billion--almost another 
trillion--but it's still languishing in the Senate. But after the 
President's victory and the signing of the health care bill today, I'm 
sure he's going to try to ram that dude through too.
  And the health care program that they passed today that they said was 
going to end up saving us money--I mean, listen to this: They say we're 
going to have 32 million more people that are going to be insured, and 
it's going to cost less. I want everybody to figure that one out. How 
can you insure 32 million more people and spend less money? If you can 
figure that out, I'm going to get you a job as Houdini's assistant. It 
just isn't going to happen.
  As a matter of fact, the cost of the health care bill is going to run 
at least--at least $1.5 trillion to $3 trillion. The gimmick they're 
using to try to make it look good is they're going to start taxing us 
for right now for 10 years, but the health coverage--most of it doesn't 
start until 2014. So you're paying 10 years of taxes for 6 years of 
coverage, and that makes it look like they're staying below $1 
trillion. But when you put the pencil to 10 years of taxes and 10 years 
expenditures, you're looking at something like close to $2 trillion. 
And I believe it's going to end up costing a lot more than that. All 
these government programs they talk about that are going to cost so 
little always end up costing more, always create more bureaucracy and 
always ends up hurting this country and the future generations.
  So I would just like to say, Madam Speaker, if I were talking to 
America tonight, remember what happened today, remember what our 
colleagues on the other side cheered about 2 days ago, remember what 
it's going to do to you and your kids and your grandkids because 
there's an election coming up in 2010 in November. And the people need 
to be aware of what's happened and what's happening. We are moving 
toward a socialistic approach in government--not free enterprise that 
made this country great--but socialism. And America needs to be aware 
of it.

     To: Congressman Dan Burton
     From: Legislative Staff
     Date: January 12, 2010
     Subject: Democrat Spending Since TARP
       Enacted into Law:
       Oct 08--Emergency Economic Stabilization Act (TARP 
     Bailout)--$700 billion
       $296.4 billion--Federal spending from the financial crisis 
     bailout fund before Jan. 20, 2009.
       $173 billion--Federal spending from the financial crisis 
     bailout fund after Jan. 20, 2009.
       $165 billion--Amount of bailout funds repaid by banks and 
     automakers.
       Jan 09--State Children's Health Insurance Reauthorization--
     $73.3 billion
       Feb 09--American Recovery and Reinvestment Act (Stimulus)--
     $820 billion + $348 billion (Interest) = $1.16 trillion
       Feb 09--Consolidated Appropriations for FY 09 (Omnibus)--
     $410 billion + $215 billion (interest) = $625 billion
       June 2009--FY 2009 Defense Supplemental--$105.9 billion 
     (Exceeded the President's original request by $20.9 billion 
     or 24.6%)
       Dec. 09--Consolidated Appropriations for FY 10 (mini-
     Omnibus) = $3.554 trillion
       Passed by the House but not enacted:
       June 2009--Cap and Trade--$846 billion in new taxes
       Nov. 2009--Proposed Government-run health care program--
     estimates range from $1 trillion to $3 trillion

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