Washington,DC | February 13, 2009 - "Today the House passed the conference report of HR 1, the $789 billion economic stimulus package, negotiated between the House and Senate.  I agree with many leading economists who suggest that such a package, targeted to spur job creation, allow Americans to keep more of their tax dollars and assist cash-strapped states, could both curb unemployment and ease the suffering of many families. Delaware will certainly benefit from this assistance and I truly hope the funding will ease economic challenges facing our state, and the nation.

"I opposed HR 1 because the contents of the bill reflect more than such an attempt at economic stabilization.  By extending the funds to projects outside job creation and protecting people in need, the authors demonstrated a failure to recognize that every dollar in this bill is borrowed.  In fact, with interest, this stimulus package will add far more than $1trillion to our already trillion dollar deficit.

"So many stated goals of the bill have long been priorities that I support, which made this vote very difficult for me.  Energy independence, reducing taxes on the middle class, expanding Amtrak and improving education opportunities for both children and adults, are goals that I have worked consistently to advance.  Unfortunately, this bill is not limited to improving our economic health and advancing these goals. Instead, it has become another example of how Congress fails to show restraint or follow a transparent process, when spending taxpayer dollars.

"A major reflection of this greed is the inclusion of more than 100 federal programs, either newly created or expanded in this bill.  It is unclear when and how these and other new federal funding streams will end and I am concerned that this bill has not been adequately vetted to reflect the magnitude of its long-term fiscal impact.  There have not been hearings or public review of these programs, many of which may have merit but should be moved through the regular legislative process, not hidden in a $789 billion bill.  In fact, these costs are simply unsustainable and add to our already bloated budget.  The habit of adding new programs to our rosters without reviewing the possible restructuring of similar or duplicative existing federal efforts must end. 

"I have listened to President Obama describe his vision of creating new jobs in this nation and feel strongly that this objective was over-shadowed by the real contents of the bill.  The original House measure failed to shift, in negotiations with the Senate, enough to truly meet the changing demands of the American workforce.  There is simply not enough encouragement for small business growth and far too few incentives for private innovation. Instead, pet projects are riddled throughout this bill in hopes of going un-noticed.  

"Now that the stimulus is set to become law, our focus in Congress should be on American long-term productivity growth-- which must translate to research and development to drive innovation to create new, permanent jobs and industries.

"Experts have convinced me that biomedical research and new energy technologies can help lay a foundation for the strong, steady economic growth we need.  Driving American innovation to ensure our technological leadership in the world will not come from a stimulus package.  Temporary relief is important but our economy requires a commitment to research and innovation capable of rebuilding our economy.  Dozens of nations are racing to develop our next energy technologies and solve our dependency on fossil fuels. Without a long-term plan on our part, the United States will remain reliant on others.  Our only chance to digging ourselves out of this magnitude of debt is to chart a course back to leading the world in innovation.    

"I was hopeful that the negotiations surrounding this bill would result in a much cleaner and transparent product.  Instead, the bill contains too much unrelated, unfocused spending that does more to burden Americans than it does to help change our current course.  A sustainable path towards economic growth demands much more than a short-sighted stimulus bill.  I do hope this stimulus bill will meet many of our short-term needs, but a roadmap for driving our nation's long-term economic success remains overdue."