Jon Kyl and John McCain co-authored this editorial for the Arizona Republic:
Proponents of the so-called economic stimulus bill have argued that legislation is necessary to stimulate our economy. We agree. The nation needs legislation that creates jobs, fixes our housing crisis, and puts us on a path toward economic recovery.
Unfortunately, the legislation Congress passed on Friday does not achieve these goals. Instead, this massive, out-of-control spending bill will only serve to increase our burgeoning national debt and do little to help Americans who are facing foreclosures, layoffs and financial challenges.
Arizona has experienced the largest number of home foreclosures in the United States, behind Nevada and Florida. Phoenix leads every metropolitan area in the country for the greatest decline in home values in 2008. Over a third of all homes sold in Tucson last year were sold at a loss. The housing crisis in Arizona is exacerbated by the significant job losses the state has experienced.
The fact is, we are in uncharted territory, and no one knows for sure how best to handle the economic crisis.
so then maybe the stimulus will work? you SAY we’re in uncharted territory… yet are convinced this won’t work.
Remember, you guys HAD your shot and blew it.
All the stimulus will accomplish is enabling those who feel entitled (for what they obviously have not earned) and rewarding the far too many who CHOSE to live way above their means, overextend themselves, and don’t want to accept the consequences of their unchecked irresponsible spending. I didn’t come from a rich family, I wore hand-me-downs and K-Mart Blue-light Special clothing…but I CHOSE to do better with my life, I CHOSE to be responsible, and I did not overextend myself only to expect someone else to pay my bills. The government shouldn’t force the responsible portion of American people to pay for other people’s greedy actions and misplaced feelings of entitlement. SHAME on those who expect and accept such ludicrous handouts, such as mortgage balance cuts, for it is those people who are not true Americans…they are just self-indulgent, irresponsible, mooching freeloaders.