Special Reports: Economic Stimulus Package

It’s now clear, the economy really wasn't roaring along

For several years, the American people were told our economy was roaring. This was not, in fact, true. And it now is abundantly clear that millions of hardworking American families are struggling to make ends meet, and that the American economy needs a strong shot in the arm.
 

Bold initiatives and big-picture thinking

I commend House leadership — Republicans and Democrats — and the president for working together to craft a package that has support on both sides of the aisle. But in our rush to do something, we shouldn’t miss a prime opportunity to pass long-term tax relief that will address our core challenges and put our nation back on the path of growth and prosperity.

 

The right tonic at the right time

This week the House leadership united behind a bipartisan economic stimulus plan that, although not perfect, should keep the American economy on a growth path. Given the polarization that has plagued the 110th Congress thus far, this pro-growth, pro-family, pro-business initiative is a strong and thoughtful compromise that provides the right tonic at exactly the right time. However, if we are to succeed, and truly limit the depth of the pending economic downturn, Congress must act and we must act now.

 

Look at the next decade, not the next quarter

In 1960, America was home to 18 of the world’s 20 largest corporations. By 1996, however, only eight of the world’s 20 largest companies were based in America. So, before we run around congratulating ourselves on any economic stimulus package, we ought to address this jarring trend that is far more dangerous to American prosperity than next quarter’s economic forecast.

 

No ‘uncertainty’ about Americans’ struggles

The economic stimulus package passed in the House is an important bipartisan first step in addressing the serious economic challenges facing our entire nation. The expanded, progressive tax-rebate provisions will provide tax relief to 117 million middle class families — 35 million more than the president’s initial proposal.

 

Regaining Americans’ confidence

Capitol Hill has been swept up by economic stimulus fever. The fever is a symptom of an economic slowdown that began in the last quarter of 2007. As figures began to pour in about the sagging housing market, the American people’s confidence in the strength of our economy began to dwindle. In today’s global economy, when one sector begins to fail, the reverberations can eventually be felt by all, as is evidenced by the decline in international markets last week.