Tuesday, December 30, 2008

Republicans Warn Against Overspending on Stimulus

WASHINGTON -- Top Republican lawmakers are positioning themselves for battle over President-elect Barack Obama's economic recovery plan, signaling Monday that they will cast themselves as guardians against excessive spending rather than outright opponents of the Democrats' stimulus package. Senate Minority Leader Mitch McConnell (R., Ky.) in a statement Monday supported the idea of using federal spending to boost the economy. But he warned that the price tag, which could approach $800 billion over two years, shouldn't become an excuse for funding undeserving projects. As Senate minority leader, Republican Mitch McConnell of Kentucky will have influence over President-elect Barack Obama's stimulus plan. "We should have a simple test: Will the yet-unwritten, reportedly trillion-dollar spending bill really create jobs and grow the economy -- or will it simply create more government spending, more bureaucrats and deeper deficits?" Mr. McConnell said. Mr. McConnell's role will be critical. The Democrats will need to attract at least some support from Senate Republicans, given that they won't have a filibuster-proof majority.

Sorry, but the word hypocrisy comes to mind. BOTH parties have been gorging themselves on the federal credit card for years, and now one side is preaching fiscal restraint. Holy Cow! I predict there will be a fair share of "bridges to nowhere" in this and any stimulus bill...