“Since putting out the call for outside economists’ opinions on President-elect Obama’s proposed $1 trillion economic ‘stimulus’ spending plan, we’ve been contacted by dozens of economists and academics eager to add their name to the list of stimulus-spending skeptics,” said Rep. Boehner on his leader’s blog.
By the start of the 111th Congress in January, congressional GOP leaders hope to have built momentum of their own for a coherent and credible alternative plan anchored in tax relief and longer-term, pro-growth policies.
Save more, not spend more. Extend the Bush tax cuts, set to expire in 2010.
Senate Republican leader Mitch McConnell is expected to lay out a GOP strategy for economic recovery next week.
Opposition from Senate Republicans sank prospects for a congressional bailout for the auto industry earlier this month, and seven GOP senators signed a letter last week to President Bush urging the administration not to use Troubled Asset Relief Program (TARP) funds to bail out the auto industry until Detroit automakers and the United Auto Workers union make serious concessions.
“Absent such restructuring, we do not believe any amount of money will succeed in saving these companies,” they wrote.
But many GOP lawmakers concede that there isn’t yet consensus within their caucus on how to use government clout in tough economic times.