Recently I wrote my United States Senators concerning the "stimulus" legislation. I also wrote Specter, Collins, and Snowe. I received a reply from only one of them and that was Senator Richard Burr. I would like to share the content of this letter with you now.
Dear Mr. Stanley:
Thank you for contacting me about economic stimulus legislation.I appreciate hearing from you on this important issue.
As you know, our economy is currently facing enormous challenges.People and employers are still having a difficult time getting credit-credit that allows them to make large purchases,buy equipment,invest for the future, and fund their daily business operations. As a result, businesses are struggling to stay afloat, workers are being laid off, and families are bearing the brunt of the economic storm.This downturn is also impacting state budgets,since state governments are collecting less in revenue from their state sales and income taxes while at the same time trying to mantain current services. In fact, the State of North Carolina is currently facing a budget shortfall of $2 billion.
President Obama and Congress are currently working on a stimulus bill in the hopes of jumpstarting our economy. Current proposals under consideration include spending almost a trillion dollars to help state governments balance their budgets and to increase federal spending in hundreds of government programs,ranging from Medicaid and education to highways and wildlife refuges. While I have long supported many of these programs as part of the federal government's regular budget, I have serious concerns about the stimulus bill and adding another trillion dollars in spending.
First and foremost, for this fiscal year alone, the federal government is projected to have a budget shortfall of $ 1.2 trillion, and this does not include the cost of the stimulus legislation. This budget deficit is the largest our country has ever faced. While these are indeed extraordinary economic times, we cannot ignore the fact that budget deficits this massive will have severe long-term consequences for our country after we weather this temporary economic crisis.
Second, we need to be certain that any proposals for stimulating the economy will actually do just that - stimulate the economy - and do so quickly. Any proposal must create jobs, and not just jobs that are tied to a temporary increase in spending for a program or a project, but good-paying jobs that will still be here two years from now. For example, if in the stimulus bill we temporarily increase spending to hire more teachers, what happens to these newly-hired teachers and the children in their classrooms next year if we cannot provide the same injection of funding again?
If the President and Congress want to pass a massive spending bill to stimulate the economy, we better get it right. If not, our economy will be no better off, and Americans for years to come will be facing either massive tax increases orsevere cuts in federal programs to pay off the enormous debt we have accumulated. Decisions about how to address today's economic problems do not come without long-term consequences for all of us, and I can assure you that as your U.S. Senator I will weigh these matters very carefully and do what I believe is right for all of my constituents over the long-term.
Again thank you for contacting me. Should you have any additional questions or comments, please do not hesitate to let me know or visit my website at
http://burr.senate.gov .
Sincerely, Richard Burr
United States Senator
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