Bailout

Tough Love for California

By Jon Huey, on June 12, 2009

Rep. McClintock gave the following floor speech on June 11, 2009.

M. Speaker: Gov. Schwarzenegger of my home state of California has called for the federal government to underwrite as much as $15 billion of Revenue Anticipation Notes that the state has to issue to avoid insolvency.

I think that would be a colossal mistake, and that such an act would not only dig the nation deeper into the hole it is in, but would actually make California’s fiscal condition worse.

Accepting Our Money Back

By Jon Huey, on April 25, 2009

Rep. McClintock gave the following floor speech on April 21, 2009.

Mr. Speaker: Many Americans have been shocked in recent days to learn that banks seeking to repay TARP money have been told the treasury will not allow them to do so.

Taxpayers were promised that this money was only to be used to buy up toxic assets and that it would be repaid to the treasury as soon as humanly possible.

And yet, when several banks have attempted to do precisely that, they’ve been told that the treasury will not allow them to do so.

Honk If You’re Paying My Mortgage

By Jon Huey, on March 17, 2009

Rep. McClintock gave the following floor speech on March 17, 2009.

M. Speaker:

I have been asked to present more than 6,000 postcards generated by the Armstrong and Getty radio show to protest policies that can best be described by the new bumper sticker, “Honk if you’re paying my mortgage,” or today’s reprise, “Honk if you’re paying AIG’s bonuses.”

Rick Santelli of CNBC struck a nerve last month when he asked, “How many of you want to pay for your neighbor’s mortgage who has an extra bathroom and can’t pay their bills?”

A Tale of Two Presidents

By Jon Huey, on March 9, 2009

Rep. McClintock gave the following floor speech on March 6, 2009.

Mr. Speaker:

We have all heard a great deal of rhetoric blaming the Bush administration for the nation’s economic woes, and I actually rise to join that chorus.

We all are painfully aware that the Bush administration increased spending twice as fast as it did under Bill Clinton. The Bush administration added $160 billion to the deficit through tax transfers with its first stimulus bill a year ago – despite warnings that it would do nothing to stimulate the economy. It didn’t.

McClintock on Bill Bennett's Morning in America

Posted on February 17, 2009

Rep. McClintock discusses the bailout measure and California's budget crisis with Bill Bennett.

Debate on Referral to Conference Committee of HR 1 Stimulus Bill

By Tom McClintock, on February 10, 2009

Mme. Speaker:

Before we continue with a stimulus policy that has consistently failed to stimulate anything but government, I think the supporters of this program need to answer some very simple questions.

For example, the President himself told us yesterday that this $800 billion of new spending will produce up to four million new jobs. That comes to $200,000 per job.

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The Plain Math of the Matter

By Tom McClintock, on February 4, 2009

M. Speaker:

The mantra we hear from the Left is that government – rather than the productive sector – needs to create new jobs. According to our new President, the $825 billion spending bill will create 3 million new jobs.

That sounded pretty good to me at a time when our economy is hurting so badly, until I pulled out a pocket calculator and did the math. Three million new jobs for $825 billion. Ladies and Gentlemen, that comes to $275,000 per job!