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From: "Crapo News Release (Crapo)" <newsclips@crapo.senate.gov>
Date: Fri, 13 Feb 2009 20:11:42 -0500
Subject: CRAPO:  NOTE THE REAL COTS OF THIS STIMULUS 
Thread-Topic: CRAPO:  NOTE THE REAL COTS OF THIS STIMULUS 
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FOR IMMEDIATE RELEASE                                                      =
    CONTACT:    Susan Wheeler (202) 224-5150

February 13, 2009                                                          =
                                          Lindsay Nothern (208) 344-1108









CRAPO: NOTE THE REAL COST OF THIS STIMULUS

Votes against final passage of $787 billion economic bill



Washington, DC - Idaho Senator Mike Crapo said simple math may show why the=
 overwhelming majority of Idahoans contacting his office oppose the economi=
c stimulus plan that was passed by the United States Senate and sent to the=
 President for his signature.  Crapo voted against the $787 billion plan.  =
Having been approved earlier in the day by the House of Representatives, th=
e Senate was set to approve the measure, the American Recovery and Reinvest=
ment Act of 2009.



As the final 1,000+ page conference report was made available to Senators l=
ess than 24 hours before the final vote, exact figures showing how much mon=
ey is going to Idaho are unavailable. Initial estimates from the National G=
overnors Association indicated that, under formulas in the bill, Idaho coul=
d receive more than $800 million.  Other groups have released differing est=
imates.



"While the final numbers on the total amount of new spending going to Idaho=
 have not been released, reports suggest that the spending in this bill goi=
ng to Idaho will have roughly the effect of a $500 to $600 benefit for ever=
y man, woman and child in Idaho," Crapo said.  "These benefits need to be w=
eighed against the costs to Idahoans.  When you add interest costs to the n=
ational debt we will incur under this bill, the total cost jumps up to arou=
nd $1.1 trillion.  That breaks down to this bill having the effect of placi=
ng a new debt of nearly $3,600 on the head of every man, woman and child in=
 Idaho.  Idahoans deserve a better return on the investment of their future=
 tax dollars."



"As many economists are now telling us, while this bill does provide import=
ant relief to help the American people try to survive the recession, such a=
s the extended unemployment benefits and aid to states, the bill does very =
little to help our country get out of the recession," added Crapo.  "The Co=
ngressional Budget Office has confirmed that, while this stimulus bill may =
provide a short-term boost to GDP in the next couple of years, the added de=
bt burden and crowding out of private investment will actually become a net=
 drag on both wages and economic growth within five years."



The text of the American Recovery and Reinvestment Act of 2009 can be found=
 at Crapo's Senate website at http://crapo.senate.gov<http://crapo.senate.g=
ov/>.









To directly link to this news release, please use the following address:

http://crapo.senate.gov/media/newsreleases/release_full.cfm?id=3D308264



......................................................................

This is generated from an unattended mailbox. If you have constituent comme=
nts or information you would like forwarded to Senator Crapo, please do so =
at the Senator's website, http://crapo.senate.gov<http://crapo.senate.gov/>=
. Comments sent to this e-mail address will not be responded to.


--_000_EF22B21D8CEAA148B030C28A9708DB9E827ADFSENATEEX05senateu_
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<div>
<p class=3D"MsoNormal" style=3D"margin-left:4.0in;text-indent:-4.0in"><font=
 size=3D"3" face=3D"Arial"><span style=3D"font-size:12.0pt;font-family:Aria=
l"> </span></font></p>
<p class=3D"MsoNormal" style=3D"margin-left:4.0in;text-indent:-4.0in"><font=
 size=3D"3" face=3D"Arial"><span style=3D"font-size:12.0pt;font-family:Aria=
l">FOR IMMEDIATE RELEASE        &nb=
sp;            &nbsp=
;            &n=
bsp;           &nbsp=
;           CONTACT:&nbsp=
;   Susan Wheeler (202) 224-5150</span></font></p>
<p class=3D"MsoNormal" style=3D"margin-left:4.0in;text-indent:-4.0in"><font=
 size=3D"3" face=3D"Arial"><span style=3D"font-size:12.0pt;font-family:Aria=
l">February 13, 2009         &=
nbsp;           &nbs=
p;            &=
nbsp;           &nbs=
p;            &=
nbsp;           &nbs=
p;            &=
nbsp;            &nb=
sp; 
 Lindsay Nothern (208) 344-1108</span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">          &=
nbsp;           &nbs=
p;          </span></font=
></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal" align=3D"center" style=3D"text-align:center"><b><fon=
t size=3D"5" face=3D"Arial"><span style=3D"font-size:18.0pt;font-family:Ari=
al;font-weight:bold">CRAPO: NOTE THE REAL COST OF THIS STIMULUS</span></fon=
t></b></p>
<p class=3D"MsoNormal" align=3D"center" style=3D"text-align:center"><b><i><=
font size=3D"5" face=3D"Arial"><span style=3D"font-size:16.0pt;font-family:=
Arial;font-weight:bold;
font-style:italic">Votes against final passage of $787 billion economic bil=
l</span></font></i></b></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">Washington, DC – Idaho Senator Mike Crapo said sim=
ple math may show why the overwhelming majority of Idahoans contacting his =
office oppose the economic stimulus
 plan that was passed by the United States Senate and sent to the President=
 for his signature.  Crapo voted against the $787 billion plan.  =
Having been approved earlier in the day by the House of Representatives, th=
e Senate was set to approve the measure, the
 American Recovery and Reinvestment Act of 2009.</span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">As the final 1,000+ page conference report was made =
available to Senators less than 24 hours before the final vote, exact figur=
es showing how much money is going
 to Idaho are unavailable. Initial estimates from the National Governors As=
sociation indicated that, under formulas in the bill, Idaho could receive m=
ore than $800 million.  Other groups have released differing estimates=
.</span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">“While the final numbers on the total amount of ne=
w spending going to Idaho have not been released, reports suggest that the =
spending in this bill going to Idaho
 will have roughly the effect of a $500 to $600 benefit for every man, woma=
n and child in Idaho,” Crapo said.  “These benefits need t=
o be weighed against the costs to Idahoans.  When you add interest cos=
ts to the national debt we will incur under this bill,
 the total cost jumps up to around $1.1 trillion.  That breaks down to=
 this bill having the effect of placing a new debt of nearly $3,600 on the =
head of every man, woman and child in Idaho.  Idahoans deserve a bette=
r return on the investment of their future
 tax dollars.”</span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">“As many economists are now telling us, while this=
 bill does provide important relief to help the American people try to surv=
ive the recession, such as the extended
 unemployment benefits and aid to states, the bill does very little to help=
 our country get out of the recession,” added Crapo.  “The=
 Congressional Budget Office has confirmed that, while this stimulus bill m=
ay provide a short-term boost to GDP in the next
 couple of years, the added debt burden and crowding out of private investm=
ent will actually become a net drag on both wages and economic growth withi=
n five years.”</span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">The text of the American Recovery and Reinvestment Act o=
f 2009 can be found at Crapo’s Senate website at
<a href=3D"http://crapo.senate.gov/">http://crapo.senate.gov</a>.  </s=
pan></font></p>
<p class=3D"MsoNormal"><font size=3D"2" color=3D"#1f497d" face=3D"Arial"><s=
pan style=3D"font-size:11.0pt;font-family:Arial;color:#1F497D"> </span=
></font></p>
<p class=3D"MsoNormal"><b><font size=3D"3" face=3D"Arial"><span style=3D"fo=
nt-size:12.0pt;
font-family:Arial;font-weight:bold"> </span></font></b></p>
<p class=3D"MsoNormal"><b><font size=3D"3" face=3D"Arial"><span style=3D"fo=
nt-size:12.0pt;
font-family:Arial;font-weight:bold"> </span></font></b></p>
<p class=3D"MsoNormal"><a name=3D"OLE_LINK1"><font size=3D"3" face=3D"Arial=
"><span style=3D"font-size:12.0pt;font-family:Arial"> </span></font></=
a></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial">To directly link to this news release, please use the fo=
llowing address:
</span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" color=3D"blue" face=3D"Arial"><span=
 style=3D"font-size:
12.0pt;font-family:Arial;color:blue"><a href=3D"http://crapo.senate.gov/med=
ia/newsreleases/release_full.cfm?id=3D308264">http://crapo.senate.gov/media=
/newsreleases/release_full.cfm?id=3D308264</a></span></font></p>
<p class=3D"MsoNormal"><font size=3D"3" face=3D"Arial"><span style=3D"font-=
size:12.0pt;
font-family:Arial"> </span></font></p>
<p class=3D"MsoNormal" align=3D"center" style=3D"text-align:center"><font s=
ize=3D"2" face=3D"Arial"><span style=3D"font-size:10.0pt;font-family:Arial"=
>......................................................................</sp=
an></font></p>
<p><font size=3D"2" color=3D"black" face=3D"Arial"><span style=3D"font-size=
:10.0pt;
font-family:Arial;color:black">This is generated from an unattended mailbox=
. If you have constituent comments or information you would like forwarded =
to Senator Crapo, please do so
 at the Senator's website, <a href=3D"http://crapo.senate.gov/" title=3D"ht=
tp://crapo.senate.gov/">
http://crapo.senate.gov</a>. Comments sent to this e-mail address will not =
be responded to.</span></font></p>
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