Senate Proceeding on Feb 13th, 2009 :: 5:23:55 to 5:29:15
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5:23:51 to 5:24:13( Edit History Discussion )

Sam Brownback: to do the same thing, and i yield back the balance of my time. the presiding officer: the senator from kansas. mr. brownback: mr. president -- mr. president, this is the largest spending bill ever voted on. it will probably be passed by this body. it has been done in the most

5:23:55 to 5:29:15( Edit History Discussion )
Speech By: Sam Brownback
Bill: H.R. 1: American Recovery and Reinvestment Act of 2009

5:24:14 to 5:24:37( Edit History Discussion )

Sam Brownback: rushed nags we have done a -- rushed fashion we have done with a spending bill. not a single republican in the house voted for this nine democrats voted against it. unfortately in conference the bad parts of the bill got bigger, the good bill got with a spending bill of gigantic

5:24:38 to 5:24:58( Edit History Discussion )

Sam Brownback: proportions and a stimulus package that's small by any regards. i would like to point out a few historical numbers, if i can. we've had stimulus packages in the we've needed stimulus packages in the past. we need a stimulus package now. we have never in the stimulus of -- we have never in history of

5:24:59 to 5:25:19( Edit History Discussion )

Sam Brownback: the republic had a stimulus had a stimuluspackage higher than the this stimulus bill is higher than the gross domestic product of the country. huge, more than three times larger than we've done in the history of the republic. we had a stimulus package in

5:25:20 to 5:25:40( Edit History Discussion )

Sam Brownback: 2008, 52 billion. this one nearly 00 billion. the stimulus pack yj in 2001 -- package that was .4% of g.d.p. this if you look at the tax cuts and ther are things in the tax cuts that i think are pretty good. there are things in the spending that are pretty good.

5:25:41 to 5:26:04( Edit History Discussion )

Sam Brownback: they shouldn't be in the stimulus bill, they should go through the regular order of things and we're going to have the omnibus spending bill that will come up after the break, that will be another hundreds of billions of dollars, people can get their clocks out and measure it on that. but the actual tax cut piece of this bill is probably be stimulative that i would support as being stimulative is

5:26:05 to 5:26:26( Edit History Discussion )

Sam Brownback: a total the bill. much of the tax cuts in the bill are actually spending through the tax code or an a.m.t. fix that is not going to be stimulative that most people have regarded as that is going to be fixed and they're not going to alter than economic activity based on that fix. so you're left with 6 billio

5:26:27 to 5:26:48( Edit History Discussion )

Sam Brownback: in actual tax cuts. -- cuts that would be stimulative. there are things in there that i would i want to congratulate the majority on some of the tax cuts that are in it. the issue on first-time home buyers, we did that in washington, d.c., it was help full on stimulating the housing market here. i think it will be help full on stimulating the housing market across the country.

5:26:49 to 5:27:09( Edit History Discussion )

Sam Brownback: there is a numr of things on wind energy that will help the plains states, this will help in wind energy, a key growth area for us, this is good, and i'm supportive of it. i think that's important to do. we have a little piece i here about deductibility of state taxes on purchases of new automobiles in 2009, that's

5:27:10 to 5:27:30( Edit History Discussion )

Sam Brownback: going to have a stimulative effect. i think small, but it will have a stimulative effect. bonus depreciation for a big industry in my state, aircraft, all of those i applaud the majority side for putting that in. the sum total of all of those is less than 10% of the whole

5:27:31 to 5:27:56( Edit History Discussion )

Sam Brownback: package. instead you're left big spending bill that is 5.5% of the economy. that we cannot afford, that is not going to be stimulative, that will be highly speculative government bubble that we're creating an at the end of the day the last and biggest number

5:27:57 to 5:28:18( Edit History Discussion )

Sam Brownback: in this whole bill is a number of 2 trillion. that's in the bill. that's what we're growing, that's what we're setting debt limit of the country at in this bill. we're raising it to 2 trillion that's in the bill. the reason that we're raising the debt limit to 2 trillion, you guessed it, it is headed

5:28:19 to 5:28:42( Edit History Discussion )

Sam Brownback: that waimen bill. we have come through a speculative bubble on housing and consumer credit. in this speculative bubble led to a lot of housing being a lot of cars all of it was fun going up. but then the bubble burst on it.

5:28:43 to 5:29:05( Edit History Discussion )

Sam Brownback: now we're trying to have a government speculative bubble and we're going to spend it in a highly speculative name. 100%s it will stimulate the economy. it will leave that big, massi hole in it. and i'm deeply concerned about what this is going to do both in

5:29:06 to 5:29:16( Edit History Discussion )

Sam Brownback: the present and in the near term future. mr. reid: mr. president? the presiding officer: the majority leader. mr. brownback: i hope to do better and there is a great possibility that we can do