Ernest Istook: “Show Us the Money”
“This is not a road to recovery. This is a recipe for disaster.” -Tom Cole (R-Okla.)
With all eyes focused on how the Pelosi-Reid-Obama “stimulus” plan spends money, there’s been less attention paid to where government will get the money — and with what consequences.
It must come out of someone’s pocket. The decision by “stimulus” sponsors? Borrow the money, mostly from foreign economies. America already borrows heavily from other countries — especially the Chinese. But we should remember that whoever pays the piper gets to call the tune. Foreign lenders aren’t inclined to whistle “Yankee Doodle!”
But foreign economies are not an infinite source of credit. They have their own troubled economies to worry about. And when they go looking for overseas investment opportunities, they’re going to be looking for the best deal. Read more…
Related
AP: 4 of 5 Oklahoma reps vote against economic bill
“Boren, D-Muskogee, said he supported the bill because Congress needed to take “bold, swift action” to avert a worsening of the economic downturn.”
[Oklahoma Democratic Congressman Dan] Boren said Obama “missed an opportunity” for the stimulus bill to be bipartisan.
“It was a good thing for the president to meet with Republicans. The previous administration never met with Democratic members of Congress.
“The problem is that it became a Democrat bill and not an American bill,” Boren continued, “because he didn’t use any of the Republican ideas.”
