Bennet Bombshell: Trillions in Debt, ‘Nothing to Show for It’

[bonnie]

Bennet Bombshell: Trillions in Debt, ‘Nothing to Show for It’

August 25, 2010 5:15 A.M.

By Michael Sandoval

Tags: Colo.

Sen. Michael Bennet’s recent appearance in Greeley, Colorado is sure to set political tongues wagging–Bennet is quoted as saying that though trillions of dollars of Federal debt has been incurred through spending since he was appointed to the Senate in January of 2009, “we have nothing to show for it”:

Michael Bennet, D-Colo,at a town hall meeting in Greeley last Saturday, Aug 21 said we had nothing to show for the debt incurred by the stimulus package and other expenditures calling the recession the worst since the Great Depression. [...]

Regarding spending during his time in office he said, “We have managed to acquire $13 trillion of debt on our balance sheet” and, “in my view we have nothing to show for it.” Speaking of the debt, he said our debt almost equals the economy. Regarding the current job situation, Bennet said the situation has been dire for over a decade saying, “We have created no net new jobs in the United States since 1998” which were the last two years of the Clinton administration. Pointing to a slide showing budget expenditures, he said that currently 65 percent of the budget was for social security, Medicaid and Medicare expenditures and that we could not grow our way out of debt.

Regarding the expiration of the Bush tax cuts Bennet would not commit to a position on whether to extend them simply saying, “I hope we look at it comprehensively.”

When asked about a recent report showing that government employees make more than their private sector counterparts said, “This is a time when we need to restrain wages in the public sector.” He said we need to make sure “our wages are not growing faster than inflation or faster than our growth.” Bennet also received a question about whether he would support card check and declined to give a firm answer saying, “I have not been a sponsor of the employee free choice act and the bill as written will not come to the floor to a vote.” He also said, “I believe strongly in the right of workers to collectively bargain and organize free from intimidation.” [emphasis added]

The Greeley Tribune’s quote is identical, adding a laundry list of things that Bennet feels have not been “invested in” adequately (the $787 billion American Recovery and Reinvestment Act apparently notwithstanding):

“We have managed to acquire $13 trillion of debt on our balance sheet,” he said. “In my view we have nothing to show for it. We haven’t invested in our roads, our bridges, our waste-water systems, our sewer systems. We haven’t even maintained the assets that our parents and grandparents built for us.”

Bennet’s votes, in support of President Obama’s spending plans–including ARRA, have resulted in billions of dollars spent per day, and trillions of dollars of new debt.

But even $10 billion in the most recent “edujobs” bailout may have no readily discernible impact on Colorado schools, despite the projections made by Bennet.

[phkrause]

Never has dgrimm. When my Mom had her roof messed up in '04 from 4 hurricanes that hit florida, it took 2-3 years for her to get it fixed. The government didn't help at all. FIMA was there but all they did was give out estimate's that were so high it was rediculis(sp), so that the people they contract the work to get a higher rate. Than they tell you they'll lend you the money if you go to so and so. What a racket.

[bonnie]

Never has dgrimm. When my Mom had her roof messed up in '04 from 4 hurricanes that hit florida, it took 2-3 years for her to get it fixed. The government didn't help at all. FIMA was there but all they did was give out estimate's that were so high it was rediculis(sp), so that the people they contract the work to get a higher rate. Than they tell you they'll lend you the money if you go to so and so. What a racket.

Why would it be up to FEMA?? Damage to your home is paid by insurance,isn't it?

When our roof was damaged the insurance company and the repair company agreed on dollar amount.

[phkrause]

Why would it be up to FEMA?? Damage to your home is paid by insurance,isn't it?

When our roof was damaged the insurance company and the repair company agreed on dollar amount.

because Florida had declared a state of emergency and had sent FEMA in to help out those that had damage to there homes!!!!!! They were suppose to help not take advantage of the situation.

[bonnie]

Originally Posted By: bonnie

Why would it be up to FEMA?? Damage to your home is paid by insurance,isn't it?

When our roof was damaged the insurance company and the repair company agreed on dollar amount.

because Florida had declared a state of emergency and had sent FEMA in to help out those that had damage to there homes!!!!!! They were suppose to help not take advantage of the situation.

Don't get it I guess.Any estimate would have to have the approval of the insurance company. Or at least that is what we had to do,obtain estimates and then deal with the insurance adjuster