John Campbell: “I guess this afternoon I am going to be a fairly lonely voice in opposition to this bipartisan agreement, and I hope…”

“I guess this afternoon I am going to be a fairly lonely voice in opposition to this bipartisan agreement, and I hope that my colleagues on both sides of the aisle will listen as in the next 3 minutes I present to you five reasons why I think we should not be passing this bill. First of all, it is not really going to be stimulative. Look at what caused the problem that we are in right now. This is a credit problem and a capital problem. We got into this arguably because people borrowed and spent too much money. So what are we going to do? We are going to send people a check and say, spend it. Go buy a flat screen TV and save America. I just don't think that is the proper stimulus or the right way to go about this. Second, it is really wealth redistribution. People who pay well over 50 percent of the taxes in this country get nothing, zero, nada. But yet a substantial portion of this package will go to people who pay nothing in taxes. So we call it a tax rebate, but people are going to get a rebate who paid nothing, and people who paid most of the taxes will get nothing. Third, it increases the deficit.”