July 09, 2009 10:28 pm
—
President Obama’s “misguided” stimulus package, bailouts and a proposed cap-and-trade pollution bill are hardly the way to turn around America’s sluggish economy, Rep. Shelley Moore Capito, R-W.Va., said Thursday.
Throughout West Virginia, she said, the economy is the leading talk at the dinner table, and signs point to even more losses, not the change residents can take heart in.
Last month, almost 467,000 jobs vanished, pushing the unemployment rate to a staggering 9.5 percent, the 2nd District representative said.
And yet, Capito said, Congress continues to “act like we can tax, spend and borrow our way out of this economic slowdown.”
“I simply don’t believe that a misguided, $787 billion stimulus package, a $3.6 trillion budget, continued bailouts of private business and a new cap-and-trade system provide a ticket to economic prosperity,” Capito said.
“And if we needed a further reminder of our mounting federal debt, the Treasury Department just last month was forced to auction off $104 billion in treasury notes.”
As a result of Obama’s policies, she said, middle-class families are feeling the burden of new spending, borrowing and taxes.
Capito urged more bipartisan efforts to deal with the harsh economic realities.
“From the economy to energy to healthcare, these are issues of serious concern and they demand give and take from both sides of the aisle,” she added.
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