Below is an excerpt from an email I received from U.S. Rep. Mike Rogers (R-MI) concerning the recent passage of the Stimulus Bill in the House:
I know Michigan is hurting. I fully support a robust stimulus plan but cannot support the spending bill that passed the U.S. House today. This bill, which costs over $1 trillion including interest, provides less than seven percent of the cost to build new roads and bridges, and less than one percent of the bill goes to help small businesses create jobs.
To make matters worse, we do not have the money in our own struggling economy to pay the bill. So we will be forced to borrow from other countries like China and Saudi Arabia, forcing us to pay higher and higher interest rates. This will drive up the cost of credit for the American people and American employers, making everything we buy cost more, and creating barriers to buy cars, student loans, and home mortgages. It also likely will increase inflation, making our savings worth less.
Here are just a few of the outrageous earmarks we will be borrowing money to pay for:
- $30 million to save a mouse habitat in San Francisco
- $8 billion to create a high speed rail system between Los Angeles and Las Vegas and a second one somewhere in the Mid-West.
- $50 million for the National Endowment for the Arts
- $2 billion for neighborhood organizations including ACORN which has been accused of unlawful voter registration.
- $1 billion for a prevention and wellness fund available for sexually transmitted disease education and prevention
The legislation even removes the new tax cut for the purchase of an automobile that the Senate had added to the plan, an additional body blow for Michigan.
Nothing like paying for a BBQ and not being invited to partake…