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Halfacre Slams Holt for Raising Debt Ceiling
| December 17, 2009Mayor Mike Halfacre is holding Rush Holt's feet to the fire, Save Jerseyans. I've said it before and I'll say it again: Halfacre can win in 2010! Click here to re-read my in-depth analysis of New Jersey's 12th Congressional District. The numbers add up for Mayor Mike. If it's a good year and he can start raising some serious cash, then we may see a second battle front opening up in New Jersey next fall (the first being CD-3).
From the Holt Campaign:
12th District Republican congressional candidate Fair Haven Mayor Mike Halfacre today criticized Congressman Rush Holt for voting to increase the federal debt ceiling Wednesday, saying that the measure was due in large part to the massive increase in federal spending supported by Holt and Congressional Democrats, and accusing Holt of hypocrisy on the issue.
“Yesterday, Rush Holt, Nancy Pelosi, and the Democrat-controlled Congress voted to increase the federal debt ceiling to pay for their out of control spending which resulted in a record $1.4 trillion budget deficit this year” said Halfacre. “At some point that money has to be paid back, and it’s going to be paid back with higher taxes.”
Halfacre also pointed out that Holt had made numerous public statements in previous years opposing increases in the national debt, opposing increases in the debt ceiling, and against pushing current obligations onto future generations (see attached).
“Apparently, Mr. Holt was only against budget deficits and debt when it was politically convenient. Now that his party is in the majority and he has a chance to influence fiscal policy, he has done a complete 180 degree turn and has vocally supported every one of the Obama/Pelosi/Reid spending initiatives which put the United States
Last week, Congress passed a $1.1 trillion spending bill which represents annual appropriations increases averaging almost 10% for the agencies covered, a figure well above the rate of inflation. Containing over 5,000 earmarks, the appropriations bill increases discretionary spending by 8%.
Halfacre concluded by saying, “In the recent gubernatorial election, New Jersey voters rejected Jon Corzine and his borrow, spend and tax policies- yet for some reason, Rush Holt continues to support those same policies inWashington DC
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RUSH HOLT’S PREVIOUS STATEMENTS ON DEFICITS, DEBT, AND FISCAL RESPONSIBILITY
“During my time in Congress, I have always strived to be a good steward of taxpayer money.” (Rush Holt statement on his House website, July, 2009) http://holt.house.gov/list/press/nj12_holt/072309.html
“Rush Holt fights for the priorities which matter to central New Jersey
"Holt, a plasma physicist turned politician, provided an out-of-town preview of the type of opposition Democrats are preparing to mount against Bush's plan for restructuring the Social Security system...He warned about the long-term costs and potential debate resulting from Bush's idea, saying it could be "not just spending the kids' inheritance, but putting them into debt."
TheWashington
The
Mr. HOLT. Mr. Chairman, I rise in opposition to the Republican budget resolution. The Republican budget resolution is no plan to bring the budget back to balance. The Republican budget includes a deficit for 2006 of $372 billion, and a deficit for 2007 of $348 billion. These deficits mean that, under Republican policies, the five largest deficits in history will have occurred in five consecutive years. Over the next five years (2007-2011), the budget resolution calls for deficits totaling $1.1 trillion.
Since this Administration took office, it has requested and the Congress has provided four increases in the statutory debt ceiling totaling $3 trillion. Under this budget, by 2011 the statutory debt will increase by another $2.3 trillion, for a total increase of $5.3 trillion. It will leave the statutory debt at a record level of $11.3 trillion. The President's reckless economic policies have doubled our nation's debt. Further, I am concerned by the amount of thedebt that has been accumulated by foreign bank, individuals and governments. In 1980, 17 percent of the federal debt held by the public was in foreign hands. By 2006, 45 percent of the debt held by the public was owned overseas. Unfortunately, this trend seems to be increasing rapidly. During the past year, approximately 90 percent of the debt we have accumulated has been purchased by foreign banks, individuals and governments. (Floor of the House,05/17/2006)(Source: Project Vote Smart)
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