Well, I thank the gentleman for yielding. I thank my friend for his leadership in helping educate the American people, in this case they no longer need it, on the perils involved in this so- called ``stimulus'' bill. And Mr. Speaker, I…
Well, I thank the gentleman for yielding. I thank my friend for his leadership in helping educate the American people, in this case they no longer need it, on the perils involved in this so- called ``stimulus'' bill. And Mr. Speaker, I guess it is a stimulus bill. It is a bill to stimulate Big Government. Unfortunately, it is not a bill to stimulate our economy.
When I come to the House floor, I understand that elections have consequences. And I usually don't complain about the process. But I must note that when Speaker Pelosi took over the speakership of the House of Representatives, she said publicly that she wanted a new day to dawn, that we would have more openness, more transparency, that there would be input from the minority. It is not true. Not one meeting, not one meeting with the Republican leadership with respect to this bill. There are no amendments allowed on the floor. She told us that it was immoral the debt that we were placing on future generations and that with Democrats in control of the House of Representatives and of this government, that they would end deficit spending.
And now, according to the Congressional Budget Office, we're looking at the largest single increase in the deficit that we've seen in our history. And it wasn't, what, 48 hours ago that on this very floor we voted as a House to ensure that the American people had at least 48 hours to view what the press says will be a 1,400-page bill, the single most expensive piece of legislation in the history of America. And Mr. Speaker, as I look at the clock, it is a little after 7 o'clock East Coast time, and we're due to vote on this thing tomorrow. I haven't seen the bill. I don't know if my colleagues have seen the bill. I doubt seriously the American
people have seen the bill. I stand corrected. Apparently the gentleman from Texas has one hot off the press.
I will be happy to yield.
Mr. Speaker, people are hurting in this economy. Personal friends of mine, hardworking, smart individuals and well educated individuals are laid off from their jobs. People are having to dig deep into their savings. People are running out of their savings. And so the Republicans have come up with not just a theory, but a piece of legislation that is backed up by history that can help preserve jobs, help create jobs, help expand that take-home pay for American families, help the unemployed, and get to the root cause, the root cause of this economic calamity, and that is to help remove some of this excess real estate from the market.
Every time we have faced a recession, you can go to earlier this decade, you can go back to 1981 and 1982. You can go back to the Kennedy administration, every time you lower marginal rates for hardworking American people, you expand their paychecks. And that is how you expand the economy. But, Mr. Speaker, when you look at this bill, less than 18 percent of this bill has anything to do with tax relief. And at least in the last version we were able to see, since the Democrats have not had the courtesy to show us what we're going to vote on tomorrow, less than 3 percent of that was geared towards small businesses. The job engine in America is small business.
I looked at this bill, and there is next to nothing, next to nothing for the small businesses that I represent in the Fifth Congressional District of Texas. I looked at the House version that was voted on earlier. I can tell you, there is nothing in it for First Choice Tax Service in Seagoville, Texas. I looked very hard. I can find nothing for Gator Auto Transport in Canton. I really looked down deep, and there is nothing here for Tallyho Plastics in Jacksonville, Texas. Nothing to preserve jobs and create jobs in small business. Instead, what we have is a 40-year wish list of the left to grow Big Government.
And so that is why we see debt service and growing Big Government is about 80 percent of this legislation. That is why we give $200 million for computer centers at community colleges and $10 million for urban canals. I'm not completely certain what an urban canal is, but I'm fairly certain that the taxpayers, the struggling families, the struggling small businesses of the Fifth District of Texas don't want to pay for it. There is $255 million for a polar icebreaker for the Coast Guard. Now, Mr. Speaker maybe the Coast Guard does need a new polar icebreaker. But somebody needs to explain to me and my constituents how that is going to stimulate the economy and how that is going to make their paycheck safer. I don't see it. There is $75 million for the Smithsonian Institution. I love the Smithsonian. But Mr. Speaker, this doesn't stimulate the economy. There is $20 million to remove fish passage barriers. Maybe the fish enjoy it. But again, I see nothing in it for the small businesses in America. And I think it is such a pivotal point in our Nation's history. What a poor charade, a poor charade on the American people.
In a spate of candor, the former chairman of the Democratic Congressional Campaign Committee, now Chief of Staff to the President, said to his former colleagues, our friends on the other side of the aisle, the Democrats, ``never let a serious crisis go to waste.'' And Mr. Speaker, I assure you, they haven't.
And they have loaded it up with every big government idea known to mankind. And I see we have other colleagues here, and I don't want to dominate all the time.
But I think it's also important, Mr. Speaker, that we know that when you look at this so-called stimulus bill, this bill to stimulate big government, it's been tried before. Anybody who has studied economic history knows about Japan's lost decade. In fact, I have a recent story from the New York Times dated February 6, not exactly a bastion of conservative thought, I might add, Mr. Speaker. It's entitled ``Japan's Big-Works Stimulus is a Lesson.'' And it talks about the time when Japan faced a similar economic challenge.
And it says, ``During those 2 decades, Japan accumulated the largest public debt in the developed world, totaling 180 percent of its economy, while failing to generate a convincing recovery.''
I read further in the article. ``This has led many to conclude that spending did little more than sink Japan deeply into debt, leaving an enormous tax burden for future generations.''
I've studied the model. The Democrat stimulus bill is based on that model. You know what happened? Not only did Japan have the highest per capita debt of any industrialized nation in the world, they didn't create any new jobs in the entire decade of the nineties. Their per capita income went from second in the world to tenth in the world, and they left a legacy of debt for generations to come.
And that's why, Mr. Speaker, I'm so sad to come to this House floor, knowing that this body, the People's House, is on the precipice of doing exactly the same thing. And so I come down to this House floor to raise my voice. I'm the father of two small children, a 5-year-old and a 6-year-old. I don't want to leave them a legacy of debt that this bill will leave them, the largest single debt in American history. How are they ever, ever going to work that off?
There's an alternative. Help small businesses. Increase the family paycheck. Help the unemployed. Get the excess housing off the market. It's the Republican alternative. It is the alternative that creates twice as many jobs at half the cost, and does not leave an unconscionable, unconscionable and immoral debt burden on our children and grandchildren.
And so I thank the gentleman for yielding. I thank him for his leadership. And I yield back.
Well, I thank the gentleman for yielding. And indeed, President Obama, contrary to Speaker Pelosi, did reach out a hand to Republicans. He met with all the Republicans in the House of Representatives, something I don't think Speaker Pelosi has ever done. He met with our leadership twice in trying to craft legislation. I give him the utmost credit for that.
I don't know our President well. I've met him a few times, but he struck me as a very sincere and honest man. And we disagree on many aspects of the stimulus bill. But the exchange I had with him, I know that he is also a father of two small children. And it's so easy in Washington to spend other people's money and hand the bill to the next generation. Frankly, it happens here every single day of the week.
And I just asked the President and implored the President, please, Mr. President, please, Mr. President, before you sign this piece of legislation, in whatever final form it may be, think first of your children, my children and the Nation's children and how will we ever pay for this.
Now, again, he disagreed with me on certain issues, but I believe he was sincere and passionate in his concern about this debt. And I believe he made
a commitment to us, and I hope he'll have ample opportunities in his term as President to see it good, that, regardless of what the cost is of this legislation, that he knows that other legislation will be necessary. And I believe--I don't want to quote the President. People will have to, reporters can talk to him about what he said.
But what I thought I heard him say is that if all we passed is this stimulus bill, we would be doing a disservice to future generations. So I'll take him at his word.
I don't believe this is the right legislation. I feel he has concern, but I'm always, always curious how Speaker Pelosi and some of my other friends on the other side of the aisle think that we will ever, ever, ever, be able to pay off this debt. And I certainly want to give the President plenty of opportunities in the future to do something about that.
And again, I thank the gentleman for his leadership. I thank him for yielding.