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Mr. Speaker, I want to talk about the spendulous bill that is coming before the House once again.
If you add up all of the money it's going to cost us in this spendulous bill, it's going to total $9.7 trillion. Now, I had to put it on two poster boards here, Mr. Speaker, so we could see how long a number that is. That includes, of course, the big bailout bills that were passed, and, of course, the debt on the spendulous bill and future debt that we're going to require because of agreements to provide aid in this new bill.
Now, just to give you--I mean, nobody understands what $9.7 trillion means. So let me try to explain it in terms maybe we can understand.If you take all the home mortgages in the United States, every one of them, this will pay off 90 percent of them by this bill that we're getting ready to pass. It's also enough to give every person on the face of the earth $1,500, every one of them, no matter where they are. That's how much $9.7 trillion is. That means everybody could get some money from the United States on this bill.
Putting it another way, if you add up the cost of the wars in Afghanistan and the war in Iraq, this is 13 times that amount. And it's been figured that if you add up in current 2009 dollars the cost of all the wars that the United States has fought in, the Revolutionary War, the War Between the States, World War I, World War II, Korea, Vietnam, the Iraqi wars and the Afghanistan wars, it still is less than $9.7 trillion. If you add up the wars and if you then figure out how much it cost us in 2009 dollars for the Louisiana Purchase, the Gadsden Purchase, and the whole State of Alaska, that's still less than $9.7 trillion.
So we're talking about real money here, Mr. Speaker, on this so-called ``spendulous'' bill that the House will get to vote on again at the end of this week.
This House stimulus bill, as it is properly called, is bigger than 168 of 180 national economies that are measured by the World Bank. Let me say that again. If you take 180 countries and their national economy, this bill is bigger than 168 of them.
So we're talking about money that, first of all, probably will not even work to stimulate the economy. We've been told that spending equals stimulus. That is just not true. Government spending on government programs doesn't mean that the economy is going to be better. All it means is the government, our government, is going to get bigger.
Many economists argue that there's no historical precedent for a stimulus spending driven economy, and they base that on history. You see, we've done this stimulus package before. Since 1948, there have been eight stimulus packages that have come to the House of Representatives, that have passed, and history has shown none of those really stimulated the economy at all. They had no effect on the economy, but we don't pay any attention to history. We just think we can make it happen by spending a lot of government money.
And of course, we're not convinced, those of us who don't want to spend this kind of money, that it will stimulate the economy, and besides all that, we don't have the money, Mr. Speaker. We're just flat broke. We've got to borrow the money. We've got to borrow it from somebody else in the world like China and pay interest to China, of all countries, so that we can take this money from Americans yet to be born and give it to different interest groups in the United States, all under the pretext of we're going to stimulate the economy. It doesn't make much sense to me to be spending this kind of money, which is real money, on this so-called fake stimulus package.
Maybe we should not spend any money at all. Maybe we should think about letting Americans, who pay taxes, and do report their taxes to the IRS, let them keep more of their money, an across-the-board tax cut for everybody that pays taxes. They would have more of their own money to begin with. Government wouldn't be taking it from them and deciding what to do with it. Let them keep their own money, and they can spend it how theysee fit. And maybe they will stimulate the economy by the way they choose to spend it rather than wasteful spending by the Federal Government, the government growing bigger, the government getting more involved in everything from the banking industry to the how-to-make-a-Federal car, and all of these other programs where we're getting the nationalization of this.
It's not the answer, Mr. Speaker, and that's just the way it is.
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