Political Quotes

Ted Poe: Spending money doesn't automatically stimulate the economy. That is a myth. Now, this package is, oh, 800, $900 billion.…

On the recordFebruary 10, 2009
Spending money doesn't automatically stimulate the economy. That is a myth. Now, this package is, oh, 800, $900 billion. How much is that? Well, that means different things to different folks. Down in Australia, that is the entire cost of the Australian economy. Or looking at it another way, $900 billion, if you take every junior and senior in high school in every high school in the United States, this money could give them a 4-year college education at a private university--now we're talking about real money--and still have $150 billion left over. Or looking at it another way, you could pay off 90 percent of the home mortgages in the United States. This is serious business, Madam Speaker, and this bill does not stimulate the economy; it just spends a lot of taxpayer money. What we should do is let Americans keep more of their own money. Cut taxes for those that pay taxes. Then they have their own money, they can spend it the way they want to, and they can stimulate our economy. And that's just the way it is.
Said by
Ted Poe
Republican · Texas

Editor's note · Context

Opposing the economic stimulus package during a House floor debate.

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