Inhofe Remarks on "1.2 Trillion Mistake"

Washington, DC - U.S. Senator Jim Inhofe (R-Okla.) spoke on the Senate floor and outlined his opposition to the so-called compromise legislation on the stimulus bill. Senator Inhofe announced his plans to vote against ending debate and proceeding to a final vote without further consideration of amendments on the legislation.

Tonight the Senate will vote on whether to shut off debate on what conservative economist Martin Feldstein has called an $800 billion mistake, Senator Inhofe said. He is not the only one that is disappointed that in the U.S. Senate, Democrats have spent this past week working to make this a nearly $900 billion mistake. In fact, the Congressional Budget Office reported during the House consideration of its $820 billion version this spending bill, that the cost of servicing the debt on all the new debt created by this bill would cost roughly $347 billion over 10 years, which means at $820 billion, the real cost of this so called stimulus spending bill will incur $1.2 trillion in new government debt. In other words, to again borrow from Dr. Feldstein, we will be voting on a $1.2 trillion mistake.

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• Inhofe
• Stimulus
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• $1.2
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• Mistake