Walden speaks to GP Rotary on stimulus
From our weekly issue dated February 25, 2009
Recent passage of a $787 billion economic stimulus bill was discussed by Congressman Greg Walden (R-Hood River) during a meeting of Grants Pass Rotary Club on Wednesday, Feb. 18 at Wild River Pub.
Walden’s appearance was part of a swing through the vast 2nd Congressional District that he represents, which includes southern, central and eastern Oregon. After being introduced by KAJO Radio owner Carl Wilson, Walden addressed the crowd of more than 120 people.
He said that there were two proposed stimulus bills, and that the one he supported didn’t pass.
“For half of the cost of this stimulus bill, we could have created twice as many jobs,” Walden said.
Some tax relief was included in the version of the bill that passed, the congressman noted, but funds for construction projects constituted “somewhere less than 5 percent” of it.
The process used to pass the package was “very flawed,” Walden said, as the bill, with more than 1,000-pages, included several major policy aspects that never underwent hearings.
Walden said that the U.S. government is on track to run a $2 trillion deficit this year. The deficit now comprises approximately 8.3 percent of the nation’s Gross Domestic Product, he said — the largest since World War II.
“These are enormous numbers,” Walden said.
Toward the end of his update, Walden summarized his overall opinion of the stimulus package.
“We had to do something, I think we could have done something better, but we didn’t,” he said.
Walden then solicited questions from the audience. Grants Pass-based developer John Chmelir commented that the stimulus package contains nothing for the ailing building industry. Chmelir said that housing led the country into the economic crisis, and that it needs to be part of the solution.
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In response, Walden said that a separate $75 billion proposal is being considered. He added that “mark to market” requirements, put into place after the collapse of energy-giant Enron, contributed to the problems and should have been suspended.
“At a minimum, it needs reform,” Walden said. “There are several systemic issues here that Congress needs to address.”
A subsequent question involved the continuing wars in Iraq and Afghanistan. Walden said that the United States is “beginning to work our way out” of Iraq, where a recent election was conducted successfully and peacefully.
Walden added that Iraqis are establishing a democracy and taking responsibility for their own security. He predicted that most U.S. troops would return from Iraq within the next 18 months.
Some 17,000 U.S. troops recently were sent to Afghanistan, Walden said. But he expressed doubt that forces would be able to withdraw from that war-ravaged nation any time soon
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