Senate Budget Committee ranking member Jeff Sessions (R-Ala.) has promised that Republicans would thwart Obama’s stimulus plan, saying the move would create more debt, reports Pete Kasperowicz for The Hill.
“There’s no doubt in my mind that the debt that we’ve now incurred is already weakening our economy,” stated Sessions on the Senate Floor. “It comes to a point that you can’t keep borrowing in a futile attempt to stimulate the economy when the increased debt itself is weakening the economy.”
A U.S. president has only presented a speech on economic and business issues before a joint session of Congress seven times since the Great Depression, says 24/7 Wall St. The speeches have had no real effect on the economy, and in fact, the economy may have gotten worse after the presidential address in some cases, according to the 24/7 Wall St. analysis.
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Max Chen contributed to this article.