Kit Bond Quotes
Hold on to your wallets folks because with the passage of this trillion-dollar baby, the Democrats will be poised to spend as much as $3 trillion in your tax dollars. Taxpayers will be on the hook for spending that will stimulate the debt, stimulate the growth of government, but will do little to stimulate jobs or the economy.
Bond, Christopher S. Statement on the American Recovery and Reinvestment Act. Congressional Record, 10 Feb. 2009. Washington: Government Printing Office.
It is actually true that public works do create indirect jobs, however the efficiency of indirect job creation is not very good. If the government spends $100 on a public works project half might go to construction materials and the rest pays the salary of construction workers. Part of the materials purchase pay the salaries of workers in the supply chain. And most of the salary gets spent on goods and services which helps to pay other workers and thus jobs are created when there is a public works construction project. However the reason FDR did not want this fact to be publicized is because the economic relationships to indirect jobs is counterintuitive. Many people hearing that public works construction also produces jobs say “Well then let us fund many more government public works programs and create even more jobs—keep spending on projects until there is no more unemployment.” However that is not a sustainable strategy. There is enough benefit in the direct jobs and the use of the public improvement, that it was, in FDR’s view, sufficient without “selling” the indirect job creation picture.
Christopher Samuel "Kit" Bond is an American attorney, politician and former United States Senator from Missouri and a member of the Republican Party. First elected to the U.S. Senate in 1986, he defeated Democrat Harriett Woods by a margin of 53%–47%. He was re-elected in 1992, 1998, and 2004. On January 8, 2009, he announced that he would not seek re-election to a fifth term in 2010, and was succeeded by fellow Republican Roy Blunt on January 3, 2011. Following his retirement from the Senate, Bond became a partner at Thompson Coburn.