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'Not So Much'

Title:

'Not So Much'

Published: Thu, 8 Jan 2009

Description: GOP reaction to President-elect Obama's speech on economic stimulus plan

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Automatically Generated Transcript (may not be 100% accurate)

" Everywhere you ever want to coming back and it's being New Jersey congressman. From your -- Scott Garrett began the day -- hopefully be here mr. Obama's message of economic change he had the Republican on the financial services committee and congressman you heard the speech. Your reaction."

" I realize that the president Obama isn't really difficult situation -- he is inheriting. From Harry Reid and Nancy Pelosi they've given him a one point two trillion dollar deficit that he's going into office was so obviously they've left in the truly difficult situation the question is what you do about it. Parts of this speech were encouraging. The spending side not so much."

" Yet despite inside the question is spending on what I mean we we have these programs these kind of outline programs congressman but we have no idea. If the first stimulus for the banks in the auto makers going to work. We really gauge."

" If this is going to work. That's a great question how do you measure success in a situation like this take the job aspect that he wants to save Mercury. Three million new jobs and I think it's an 80% of them are private when -- percent of those are going to be public that 600000. New federal make work type jobs and absurd number and how do you actually gauge whether you actually created a job. On the other side of the equation. You have to look at the this spending aspect. How much of that those things actually create jobs if you give somebody an unemployment check -- maybe we need to do that but -- created job if you get somebody 500 dollars 7000000. Dollars is that they create a job maybe help some now. Temporarily but it's nuts and certainly not. Long term. And so you really have to say what's the problem promised higher unemployment what's the solution new jobs private sector jobs is really what we should be focusing on not more but not more rough public sector job."

" And then it goes back this whole thing are these really tax cuts -- are these is this actually gives more welfare spending. If you're giving people money -- you didn't pay the taxes done that becomes a different ball game -- again. That's a totally different ball game with what it is is a redistribution of wealth. And even the best case here's the point even -- the best case we can find something in his package that is a tax cut. -- you'll notice that if they temporary tax cut that's. Tax cuts are temporary the spending is really permanent and that's the problem of their past stimulus proposals now probably that the problem with their proposal here as well. Congressman Scott Garrett congressman thank you. Thanks very much."

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