Al Franken on Budget & Economy

DFL Jr Senator (MN)

Opposed $700B rescue package; it only helps Wall Street

Franken repeatedly returned to his theme of wanting to be a middle-class champion in Washington. He repeated that he would have voted against the $700 billion economic rescue package because he thinks it will hurt average taxpayers to help Wall Street. He said he likes Barack Obama’s proposal to place moratoriums on home foreclosures. Source: 2008 MN Senate Debate reported in Star Tribune , Oct 17, 2008

Fully fund the Veterans Administration budget

So that every veteran can have quality mental, physical, and long-term health care for life. This should be non-negotiable. It’s unacceptable that 1.8 million veterans are currently without health insurance, and it’s just as tragic that many vets have to wait months for health care. If you serve this country, you should have quick access to quality care at a VA hospital when you come home. The facilities and staff at that hospital should be second-to-none. We shouldn’t be satisfied with anything less. Source: 2008 Senate campaign website, www.AlFranken.com, “Issues” , May 14, 2008

Voted YES on $192B additional anti-recession stimulus spending.

Congressional Summary:

$7 billion Increase in Fund balance appropriation (without fiscal year limitation).
With respect to the Unemployment Trust Fund and to the Black Lung Disability Trust Fund: Removes the FY2010 limitation as well as the specific dollar amount for such advances, replacing them with such appropriations as may be necessary.
Increases from $315 billion to $400 billion the maximum loan principal for FY2009 commitments to guarantee single family loans insured under the Mutual Mortgage Insurance Fund (MMIF).
Increases from $300 billion to $400 billion the limit on new Government National Mortgage Association (GNMA or Ginnie Mae) commitments to issue guarantees under the Mortgage-Backed Securities Loan Guarantee Program.

Proponent's argument to vote Yes:Rep. LEWIS (D, GA-5): This bipartisan bill will provide the necessary funds to keep important transportation projects operating in States around the country. The Highway Trust Fund will run out of funding by September. We must act, and we must act now.

Opponent's argument to vote No:Rep. CAMP (R, MI-4): [This interim spending is] needed because the Democrats' economic policy has resulted in record job loss, record deficits, and none of the job creation they promised. Democrats predicted unemployment would top out at 8% if the stimulus passed; instead, it's 9.5% and rising. In Michigan, it's above 15%. The Nation's public debt and unemployment, combined, has risen by a shocking 40% [because of] literally trillions of dollars in additional spending under the Democrats' stimulus, energy, and health plans.

We had a choice when it came to the stimulus last February. We could have chosen a better policy of stimulating private-sector growth creating twice the jobs at half the price. That was the Republican plan. Instead, Democrats insisted on their government focus plan, which has produced no jobs and a mountain of debt.

Reference: Omnibus Appropriations Act Amendment; Bill H.R. 3357 ; vote number 2009-S254 on Jul 30, 2009

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