Jan 28 2009

Richard Shelby announces opposition to economic stimulus plan

Posted by Mary Orndorff

Sen. Richard Shelby this morning announced his opposition to the Senate version of President Barack Obama's $825 billion economic stimulus plan, calling it "pure debt" that is not guaranteed to end the economic downturn.

"The $825 billion has to come from somewhere, and that somewhere will have to be taxed or borrowed out of the economy in order to be repaid, burdening each of our children and grandchildren with thousands of dollars in new debt," Shelby said in his opening statement at the Senate Appropriations Committee.

"This bill is not stimulating the economy - it is simply more spending," he said. He said the package of funding for infrastructure, state Medicaid programs and other public works projects is money for "politically motivated programs masked as economic policy."