Herb Kohl: “for months, news about our sinking economy has dominated. The facts are staggering. We now have a 7.2-percent…”

“for months, news about our sinking economy has dominated. The facts are staggering. We now have a 7.2-percent unemployment rate. Upwards of 1 million good-paying manufacturing jobs were lost last year, and consumer confidence is at or near an all-time low. Last week brought more bad news. In the last quarter of 2008, the economy shrank by the most in 26 years. At the same time, we now well know about the irresponsibility of some financial executives who helped to create this crisis and who are now benefiting from Government assistance. While countless families struggle to make ends meet, some Wall Street executives rewarded themselves with bonuses totaling more than $18 billion last year. Such outrageous rewards during an economic downturn are without justification, and they draw a harsh contrast with the rest of America. Each week without a response from our Government will make that contrast more pronounced--more jobs lost and more families hurting across the country. This is not a partisan issue. Economists agree that Government needs to act and act now. I support the package before us, but I do have some reservations. The pricetag on this bill is enormous, and it is true some of the cost is in long-term investments such as in education, health care, and energy efficiency and independence, which some argue is not immediately stimulative. This is a case, however, where the sum is greater than the parts.”