House Proceeding 01-28-09 on Jan 28th, 2009 :: 0:53:15 to 0:57:30
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0:53:12 to 0:53:32( Edit History Discussion )

Jack Kingston: by addressing the reality that our constituents who we are sworn to serve face every day. i yie back. the chair: the gentleman yield back the balance of his time. the gentleman from california. mr. lewis: mr. chairman, i yield three minutes to the gentleman from georgia, mr. kingston. the chair: georgia is rec minutes. mr. kingston: i thank the chairman. i wanted to respond to some

0:53:15 to 0:57:30( Edit History Discussion )
Speech By: Jack Kingston

0:53:33 to 0:53:53( Edit History Discussion )

Jack Kingston: the comments my democrat friends have been making. number one, we do want to work with them on this package. we met with president obama yesterday to pledge our support of turning this economy around. we have offed a lot of good ideas. ideas the house democrats have not embraced as of yet, but we hope they will because we think president obama and we made some

0:53:54 to 0:54:14( Edit History Discussion )

Jack Kingston: progress yesterday. one of the things we talked about is extending tax breaks for small businesses so that they can create more jobs. we think that's very important. we talked about easing the credit crisis so people can go out and borrow money and make investments in new jobs. we also talked about housing. stabilizing the housing market

0:54:15 to 0:54:36( Edit History Discussion )

Jack Kingston: so people can become homeowners. one of the things that's not in this package is tax credits for small businesses to purchase health care for their employees. we think that would be very, very helpful. and also ending some of the unfunded mandates that are strapping our cities and local governments. we believe we have a lot of good ideas. we are very disappointed that

0:54:37 to 0:54:57( Edit History Discussion )

Jack Kingston: this committee, appropriations, only had one hearing and we were shut out of some of the subsequent negotiation and crafting of this bill that we think could have been helpful to do in a bipartisan basis. now, mr. hoyer had talked about history and how stimulus bills work. let's talk about the stimulus bills and let's talk about recent histories.

0:54:58 to 0:55:18( Edit History Discussion )

Jack Kingston: i don't need to go back to ronald reagan. this year, 2008, 9 billion for bear stearns, 68 billion for the other stimulus package we just passed in may. 00 billion for fannie mae bailout. 5 billion for a.i.g. bailout.

0:55:19 to 0:55:40( Edit History Discussion )

Jack Kingston: 00 billion for the tarp, the wall street bailout. if this kind of spending worked, we would be in great shape in our economy right now, but we keep throwing more and more money on the problem to the extent that this country now has a 0.6 trillion national debt. in fact, the interest on this

0:55:41 to 0:56:02( Edit History Discussion )

Jack Kingston: package alone, mr. chairman, will be 47 billion a year. so this really isn't just an 25 billion package. this is a .1 trillion expenditure that who is going to pay for it? not people here today but our children and our children's children. we are digging a hole. where does this money come from? three sources.

0:56:03 to 0:56:23( Edit History Discussion )

Jack Kingston: you can tax people. and i can tell you the working man is taxed to death right now. and i'm glad there's some tax relief in here for some people, but not tax relief for everybody in the middle income bracket which is what we desperately need. the second way we can do that is print the money. we print money and it lead to inflation.

0:56:24 to 0:56:46( Edit History Discussion )

Jack Kingston: or we can borrow the money. right now we owe foreign governments trillion. china being the number one lender to us at 22% followed by japan and followed by great britain. we are digging a huge hole. the chair: the gentleman's time has expired. the gentleman from wis

0:56:47 to 0:57:07( Edit History Discussion )

Jack Kingston: mr. obey: the chair: the gentleman will suspend, please. do you wish to give the gentlen from georgia an additional minute? the gentleman from georgias recognized for one additional minute. . kingsn: let me say this. do i think there should be a balance of tax credits and balance of public work spending in this bill, but it is sad that while the national endowment for

0:57:08 to 0:57:29( Edit History Discussion )

Jack Kingston: the arts gets 0 million, i don't know what kind of job creation that's going to do, but 0 million, we only spent 7% on shovel ready projects in the year 2009. only 7%. and total public work spending for roads, whies, bridges is about 13%. we can do better and i would

0:57:30 to 0:57:31( Edit History Discussion )

Jack Kingston: like to work with the democrats