Thomas Daschle: “I will again briefly recount the events over the course of the last several months. There were bipartisan Finance…”

“I will again briefly recount the events over the course of the last several months. There were bipartisan Finance Committee discussions as early as last September about an economic stimulus package. There was a hope that we could come together, Republicans and Democrats, on an economic stimulus package as we did on airport security, on counterterrorism, on the assistance provided to New York and to the Defense Department in the wake of the tragedy of September 11. We reached out to experts who could give us guidance on what the principles ought to be for an economic stimulus package. We had a number of conversations with Alan Greenspan and Bob Rubin, both, early in the months of September and October. The bipartisan Budget Committee, I think on a unanimous basis, issued some principles on October 4. Those principles were: If you are going to have a stimulus package, make sure it is truly stimulative. If you are going to have a stimulus package, make sure it is temporary. If you are going to have a stimulus package, make sure it is immediate. If you are going to have a stimulus package, make sure you take into account cost.”