Congressman Mario Diaz-Balart

Representing the 25th District of FLORIDA

Diaz-Balart: Hoover Economics Not the Answer

Mar 6, 2009
Press Release

WASHINGTON, DC-Today Congressman Mario Diaz-Balart (R-FL), a senior member of the House Budget Committee, made the following statement on the economic realities facing our nation.

“American families are hurting, people continue to lose their jobs, retirement savings and pensions are dwindling, and the stock market is on a downward spiral.  The President’s budget proposals, reminiscent of Hoover economics, have only further aggravated the current economic situation.    

“The Administration’s idea of economic relief during a time of recession includes raising taxes by an unprecedented $1.4 trillion on American families and small businesses, doubling the national debt in eight short years, and spending additional billions on interest alone.  The budget even proposes a tax increase on everyday energy use, burdening Americans at the pump and as they struggle to pay monthly electricity bills.    

“Unlike some in Washington, American families and small businesses do not have the luxury of not paying their taxes.

“It is my hope that President Obama puts American families first and reconsiders his budget plan for the sake of Main Street.  America needs to get back on its feet but cannot do so with leaders that are not mindful of the harsh reality and economic hardships facing our nation,” said Diaz-Balart.