Texas Congressman Ron Paul has slammed the stimulus bill, passed
by the House and Senate last week, as a blatant continuation
of the destructive economic policy that caused the financial
crisis in the first instance.
Paul, who is also a member of the House Financial Services
Committee, pointed out that not one member of the House or the
Senate has even read the bill.
"There were five copies available to the
House and I think five to the Senate, and that wasn't available
'til the House opened at noon time." The Congressman told
CNN viewers yesterday.
"So essentially it was not available to us
and who can stay up all night and read a thousand pages?"
"So obviously it was done like business as
usual. Things have been going on like this for a long time,
but this one was a little bit worse, it was bigger than usual
so it was not a very good day for America." Paul said.
The Congressman again explained how the bill will
do very little to stimulate the economy and will only prolong
the problem and delay financial recovery.
"The rate we are going, we are just throwing
more money at it, we don't change any policies, whether it's
the welfare policy or the warfare policy, they always remain
the same when either party is in power."
"We got into the mess by spending too much
money, running up to much debt, and printing too much money."
Paul said.
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The Congressman added that cutting taxes is not
effective enough when the stimulus bill also mandates continued
spending.
"This bill was equivalent to what we had
spent prior to 1980. The national debt was $800 billion in 1980.
We had to raise the national debt this time with this bill by
another nearly $800 billion."
"So it is a process that will delay the recovery,
we won't have the correction, and we will drive ourselves into
depression the way we are going." he urged.
President Obama will sign the bill tomorrow in
Denver.
Texas Congressman Ron Paul has slammed the stimulus bill, passed
by the House and Senate last week, as a blatant continuation
of the destructive economic policy that caused the financial
crisis in the first instance.
