ALSO VOTES AGAINST $150-BILLION SPENDING BILL USING TARP FUNDS

Washington, Dec 16, 2009 - WASHINGTON, DEC. 16, 2009 – “After increasing the debt limit, the Democrats ironically wasted no time in increasing federal spending and borrowing,” stated Rep. Cliff Stearns (R-Sixth). “The leadership in Congress has run up a $1.4-trillion debt in the last year and is now pushing for an increase in the debt limit to spur more wasteful spending. In one year, the Democrats in the House have approved over $700 billion in new taxes and authorized more than $2 trillion in new spending.” 

Stearns voted today against H.R. 4313, legislation increasing the statutory limit on the national debt by $290 billion to $12.394 trillion. Added Stearns, “I was in Congress when we succeeded in ending federal deficits and generated budget surpluses. Instead of increasing the debt ceiling, we should focus again on controlling federal spending.”

Stearns also opposed the passage of H.R. 2847, which effectively retargets $150 billion in Troubled Asset Relief Program (TARP) funds toward more federal spending. Explained Stearns, “Last year, I opposed the Stimulus Bill that borrowed $787 billion to increase federal spending to create permanent jobs. That Stimulus Bill failed to spur economic growth or decrease unemployment. Now, the leadership in Congress wants to send more good money after bad to the tune of $150 billion.” Stearns noted, “H.R. 2847 includes $24 billion to help the states defray the cost of Medicaid, but it 

will not take effect until January 2011. There is no need to increase the deficit now to cover spending more than a year away. The best way Congress could promote job creation would be by reducing its deficit spending and by embracing fiscal responsibility.”