Ryan: 'Feel-good hit' or 'budgetary hangover'?

UPDATE: 1/29/08 House passes stimulus package, 385-35; Ryan votes YES. Washington Post story HERE.


As House leaders reached agreement with President Bush on an economic stimulus package this afternoon ...

House leaders and the White House on Thursday announced a tentative agreement on an economic stimulus package of roughly $150 billion that would pay stipends of $300 to $1,200 per family, and more for families with children, plus provide tax incentives for businesses to encourage spending. (New York Times)

...we phoned U.S. Rep. Paul Ryan, R-WI, 1st District, (even before asking she-who-rules-this-house what we were going to spend our putative windfall on: rent, food or heat) to get Ryan's reaction, to try to gauge whether Wisconsin's fiscal conservative might be voting yea or nay.

In just a few minutes, his staff sent us this statement:

“Timeliness is a key factor in the effectiveness of our response, so I am pleased to hear a bi-partisan deal has been reached. I look forward to reading the specifics of the proposal.

“Providing tax incentives should spur businesses to invest and create jobs – and both are essential for growth. Giving taxpayers some of their money back should also help provide a cushion for families.

“As we consider the specifics of this proposal, there are several key principles I believe we need to keep in mind:

“First, do no harm. In our rush to “help,” we’ve got to ensure we don’t talk ourselves into a quick, feel-good hit today that will leave us with a bigger budgetary hangover tomorrow.

“Second, get the fundamentals right. That means keeping tax rates low, and spending under control in both the short and long term. That is the best, proven recipe for real, long-term growth.

“Third, understand that we simply cannot spend our way to prosperity. Congress cannot use the excuse of “fiscal stimulus” to push through a wish list of new spending – further worsening our budget outlook, and our nation’s economic future.

“In short, I believe that in addressing current economic concerns, we’ve got to keep our focus on good economic policy that works to promote growth – both today, and in the future.”

OK, we're still trying to guess whether Ryan will vote for it or not! Even as we ponder -- assuming the check arrives by June -- whether we'll still give a damn.

The New York Times' story is HERE.