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Did you comment that the problem and everything else I wanna move on to and that's the size of the government the costly government because obviously we're going to be talking next about after this has concluded today.
The omnibus spending bill and there are a lot of air marks and that opened the earmarks congressman -- particular.
-- seemed to me that when we had the November vote that Americans said no more spending having so that congressman Garamendi yourself.
Have several earmarks -- some of which I'm from California I could make out.
That you've got you -- more than a million dollars for the Alameda creek watershed project.
More than a million dollars going your -- -- -- on ballot recycled water project -- a list of earmarks your congressman environment but the American public that they don't want that.
No I didn't think that's at all with the American public -- they -- to spend your money sensibly.
The fact of the matter is that those two earmarks and the other ones are the ones at the local governments in our area want for their communities the Alameda creek is a flood control project and the restoration of an extremely important.
Fisheries in the Bay Area the other -- are all things that have been gate I.
-- -- -- payment on let me finish.
S air force -- -- I also.
I well here's the point.
Here's the point is that.
With this tax bill passed.
We're borrowing 858.
A 150 billion -- more -- that goes to.
The various wealthy people in America who do not need a tax break and who by nearly every economist will say.
That will not reach out in investment that is the lowest stimulus you could possibly happen.
The unemployment insurance extremely important you get the highest stimulus from that.
But we want to take this money the 120 doing -- candy infrastructure -- things that you were just talking about night time.
The infrastructure and our communities built the foundation put people to work immediately.
rice has correctly I think pointed out the Republican strategy and this is where Social Security comes into -- -- This particular piece of legislation.
Puts Social Security directly into the general fund treasury understated about it at the United States.
Therefore when they begin to cut.
They're gonna take a look at cutting Social Security this is an extraordinary risk for Social Security never has been done at any time in the nation's history.
-- -- let -- let admitted that my colleague of the question.
-- -- -- -- -- Garamendi I mean not you you told about the benefit of just a billion dollars for the stimulus package was 850 billion very few jobs were created when you look at the overall picture up.
Partly because of congress' inability to settle this tax and regulation that debate.
That's why the private sector was nervous to make any moves in creating jobs because they didn't know what congress was going to do.
Well I think there's also the political upheaval that's occurred over the last.
Six years power has changed three times in six years the political power in this nation.
That's where the certainly really generates from that and we're going to change once again -- -- in January so yes the uncertainty is going to continue.
But what we're looking out here and in -- -- really got the number wrong by about a hundred billion but in any case in the stimulus bill.
Help in the law that -- -- -- that was.
More than a third of that was a tax cut the largest middle America middle class working men and women tax cut ever in this nation's history.
It'll be followed on with this particular piece of legislation.
And in -- jobs were created not just in the public sector.
A lot of the public sector jobs were teachers -- got a problem with hiring teachers -- got a problem with hiring police you've got a problem hiring.
Yes we we're back fidelity.
The local governments and the state -- that we decimated by the biggest recession ever.
Since the Great Depression.
Well they go -- -- congressman right so what did you -- were congressman Roy is one of the big issues today.
Is the estate tax -- want to ask you about your party's position in your position on that because.
We're talking about creating jobs many believe that leaving the estate tax at the lowered rates does create jobs.
Can this be a political fight that holds up the final extension of the bush tax -- I think that the current rate would be 55%.
On the estate tax if we don't act.
And frankly a 55%.
-- Would mean that many businesses when the founder passes on would have to be liquidated you'd have a lot of workers who would lose their jobs.
The compromise here is is -- 35%.
For states over five million dollars.
I think that that that that will be passed and I think that also.
Guarantees that in the future we won't have.
Companies liquidated for no other reason other than to pay a 55%.
To the federal government again economic growth is the issue we've got to keep our.
Focus on how we get the economy going and how we get people back into real world employment and that does not mean.
Giving them a government check or getting them on the government payroll and it means -- revitalizing the private.
Well the price and then the and then the president was meeting with CEOs yesterday -- and jobs will be created gentlemen thanks to both of you congressman -- -- Garamendi.
Always a pleasure to have you -- them happy holidays.
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