http://www.msnbc.msn.com/id/28964188/partial transcript below:
SEN. KAY BAILEY HUTCHISON (R-TX): You know, David, that's the key point. I think we need to take a look at the big picture and really look at what this bill does, and the amount of it. Eight hundred billion dollars, we're talking about basically a trillion when you add the interest, on top of a $10 trillion debt. We need to look at the enormity of it. And everyone agrees that we need stimulus. We do. But when we're talking about redoing this bill, if we're talking about just adding more, I think we will be wasting a lot of money and adding to the debt. My focus would be on more infrastructure; I agree with Senator Kerry and others. For instance, military construction, that is one of the points that we have $7 billion out of 800 billion in this bill. It's something that we're going to do anyway. I think we could have a policy of looking at the spending for infrastructure that is going to be needed, but we move it up, rather than things that might be temporary or create temporary jobs that wouldn't lead to a future. Military spending, military construction, those are going to be jobs in America. And we can look at the five-year plan that the Department of Defense already has and let's just move up everything that is ready right now.
On the other hand, on tax cuts, I think tax cuts should be strong, I think they should be a lot and I think they should be something that will have an impact.
MR. GREGORY: Right.
SEN. HUTCHISON: Five hundred dollars a person hasn't worked. We've got to do something that makes business want to create jobs.
SEN. HUTCHISON: Well, yes. But I hope that the jobs would be created in the private sector so that they would continue in the economy. We're talking about a quick fix that does make people start investing again, and, and tax cuts. If you talk about 2001 after 9/11, it was the tax cuts that stimulated the economy and started the stock market to go in the right direction, and then capital spending and then the economy was going in the right direction. So I think tax cuts cannot be forgotten as stimulus. But when you're talking about the spending...
SEN. HUTCHISON: It is the tax cuts that caused the economy to start going in the right direction. It was the 15 percent capital gains and dividends break that made people go back into the stock market. It was lowering everyone's tax bracket. It was having $1,000 per child tax credit and lowering the marriage penalty. Those are good tax cuts. And I disagree with Senator Kerry. On the last eight years we have increased spending. We've increasing--increased spending on military, certainly the war on terror has had a lot of infrastructure and buying of equipment for the war on terror. We have neglected our highways. *The Highway Trust Fund has increased exponentially. I think that what we're talking about now is not the result of low taxes, it is the result of the, the mortgage crisis and the subprime lending and these derivative packages that the fancy people on Wall Street started putting together...
* The Highway Trust Fund: The Loop 820 highway in Northern Tarrant County is suppose to be expanded from a 4 lane highway to 10 lanes which 4.5 miles of this highway will become a Toll Road. This Loop has been neglected for over 20 years, this was supposed to have been expanded 10 years ago, but it has been constantly delayed. This part of the County has grown so much that the highway can not support the cars that travel on it daily. The traffic IS so bad there are wrecks on this stretch daily.
If the Highway Trust Fund is doing sooo well then how come Loop 820 is considering bids from foreign countries :shrug:
But you noticed KBH only cares about the military and Stock Market. Her husband represented one of the biggest frauds in December 2001 ENRON. I'm sure the Hutchison's made out like bandits on Enron jerking over their employees pensions, and the "investors" by their actions.
Also she was the Junior Senator from Texas when her buddy Phil Gramm decided that there shouldn't be ANY government regulations. We now see where that got us, into the state of affairs we are now experiencing.
Heaven help us if she wins the Texas Governors office. Because she doesn't know the First thing about governing.
Thanks for posting:hi: