|
Today, I addressed the membership of the Kiwanis Club of the Haddons
at the Tavistock Country Club in Haddonfield to outline my plan to fix
our ailing economy. I am concerned that through continued losses
in the stock market, many consumers will begin to cutback on their spending.
To counter this, I support increasing the consumer tax credit to generate
an increase in consumer spending. Next, I support an increase in
tax credits for equipment and information technology purchases for businesses
to help spur growth in the business sector. This new growth will,
in turn, create new job opportunities and lessen the need for more layoffs.
Finally, I support an increase in federal spending for school construction
and homeland defense initiatives. This work will create thousands
of new, well paying jobs here in South Jersey and throughout the Nation,
which will help to increase consumer confidence and provide stability for
families displaced by the current economy.
While I believe that we must proactively work to jumpstart our economy
I also believe that we must devote equal attention to prevent deficit spending
and the raiding the Social Security trust fund to pay our Nation's bills.
This past summer, the Congressional Budget Office (CBO) announced that
the federal government will spend more than it collects in each of the
next four years. We should not rely on our Nation's retirement fund (Social
Security) and our children to pay our current debts. Through a balance
of the targeted tax cuts that I mentioned above and a fiscally conservative
attitude regarding our Nation's budget, I believe that we will be able
to revitalize our Nation's economy and get the Nation's budget back on
track. |
|
