Ron Paul on the New Stimulus Bill

As you know the House has passed HR1, the latest economic stimulus bill.

TX Rep. Ron Paul issued a statement regarding this bill which makes it clear what type of bill it is and some of the reasons why we must oppose it. Here are some highlights:

• “In reality, this bill is just an escalation of a government-created economic mess. As before, a sense of urgency and impending doom is being used to extract mountains of money from Congress with minimal debate….. We are again being promised that its passage will help employment, help homeowners, help the environment, etc. These promises are worthless. This time around especially, Congress should know better than to pass anything of this magnitude without first reading the fine print.”

• “At least $4 billion is allocated to expanding the police state and the war on drugs … and the COPS program, both of which are corrupt and largely ineffective programs.”

• “To help Big Brother keep a better eye on us and our children, $20 billion would go towards health information technology, which would create a national system of electronic medical records without adequate privacy protection.” [To read a warning about this RFID-related threat to privacy check out The New American magazine online in a 2005 edition]

• “$79 billion bails out states that haphazardly expanded their budgets during the bubble years, but refuse to retrench and cut back, as their taxpayers have had to, during recession years.”

• “$200 million expands Americorps. $100 million goes to “faith-and-community” based organizations for social services, which will further insinuate the government into charity and community service.”

• “Of course the bill is rife with central planning projects.”

• “This bill delivers an additional debt burden of $6,700 to every American man, woman and child.”

• “There is a lot of stimulus and growth in this bill – that is, of government. Nothing in this bill stimulates the freedom and prosperity of the American people. Politician-directed spending is never as successful as market-driven investment. Instead of passing this bill, Congress should get out of the way by cutting taxes, cutting spending, and reining in the reckless monetary policy of the Federal Reserve.” 

Thanks to Bob Smith for the above quotes.

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