02.10.09

Burr Statement on Economic Stimulus Legislation

Today, U.S. Senator Richard Burr (R-North Carolina) issued the following statement on the Senate passage of H.R. 1, The American Recovery and Reinvestment Act of 2009:
"The current economic crisis we are facing requires action, but the stimulus bill that was voted on in the Senate today was the wrong action. It will spend nearly a trillion dollars on projects to expand government programs, and will provide little stimulus to the overall economy. In fact, this bill will cost American taxpayers $209,550 for every job the bill's supporters claim it will create. These are some of the many reasons I opposed this bill.
"The serious economic crisis we are facing will balloon into an even larger crisis if our leaders do not put the government credit card away. We are expected to have a $1.2 trillion deficit this year, and the National Debt is approaching $11 trillion. With the news of additional spending in the coming weeks from the administration, we could be spending close to $3 trillion dollars in the first 60 days of the year."