WASHINGTON, DC — The following are the remarks of Congressman Tom Latham during debate of the Economic Stimulus Measure considered by the U.S. House of Representatives Friday.
“I want folks to step back from this debate for just a second here. You know, at the end of last year we spent over $700 Billion on the Wall Street Bailout. Who knows if that has had any positive effect? No one knows for sure. Just this past Tuesday, the Secretary of the Treasury said we will need to spend another $2 Trillion for the next financial industry bailout. Today, we are going to spend $790 billion. This means with interest today’s bill will spend over $1 Trillion. In another couple of weeks we will be looking at spending $400 billion on an omnibus spending bill. And soon after that there will be another war supplemental. Let’s add that up. We are talking about spending $4 trillion by Congress in less than three months time.
To read more of Latham’s statement click here
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