Sessions: ‘Financial Soul’ of U.S. at Stake with Stimulus Bill
Friday, January 30, 2009
By Ryan Byrnes
Sen. Jeff Sessions, R-Ala., center, speaks out against the economic stimulus measure making its way through Congress during a news conference at the Capitol in Washington, Thursday, Jan. 29, 2009. He is flanked by Sen. Jim Bunning, R-Ky., left, and Sen. Tom Coburn, R-Okla., right.
(CNSNews.com) - The proposed economic stimulus plan will cost taxpayers a whopping $1.2 trillion over the next 10 years – not just the $819 billion contained in the proposal that the House approved this week.
With additional debt costs adding $347 billion over 10 years – the proposed stimulus is a budget-destroyer, Sen. Jeff Sessions (R-Ala.) said in an interview with CNSNews.com Thursday.
“This kind of package, at this size and this scope, is just unthinkable for us at this time,” the conservative senator told CNSNews.com. “The financial soul of this country may be at stake.”
Sessions said he firmly believes that tax breaks and incentives would provide an immediate stimulus “without incurring as large a debt and without creating programs that would never end.”
“In so many ways, tax policy would be the simplest and quickest way to deal with this problem,” Sessions said. “It doesn’t create bureaucracies, it doesn’t create an infrastructure that will have to be extended and won’t ever end.”
Sessions said sending out one-time checks – “even the checks that President Bush sent out last spring” – doesn’t work to stimulate the economy.