Americans for Prosperity Urge No Stimulus Through Petition Drive

The latest numbers indicate that employment is faltering and the fallout can be seem across the major sectors of the American economy. The American public is calling for relief. One group, however, is standing strong against any government spending that, even in an effort to stimulate the stagnant U.S. economy, would also add to long-term debt.

The advocacy organization Americans for Prosperity released on Feb. 5 a letter addressed to the U.S. Senate. The group urges a vote against the bill aimed at stimulating the economy, which is due for a vote in the Senate Tuesday:

"On behalf of the members of Americans for Prosperity, I am writing to urge you to vote against the so-called American Recovery and Reinvestment Act. Congress should not enact an expensive spending bill under the pretense of stimulus or recovery."

The letter continues, "No matter which amendments pass, the fundamental approach of dramatically increasing federal debt and spending is a mistake. We therefore urge you to vote NO and will rate a vote against the so-called stimulus as a Key Vote for Prosperity in our Congressional ratings."

The group stands resolutely against many mainstream economists who point out that the economic sectors that traditionally drive growth and job creation -- consumer spending, export markets, manufacturer investments, and new technological innovation -- have all collapsed. In such times, the economists argue, it's necessary to use extraordinary governmental measures to make up for the estimated $2.9 trillion gap in the private economy over the next three years. Otherwise, economists such as Nobel prize winner Paul Krugman predict, the U.S. could enter a long period of deflationary doldrums like Japan endured for a decade.

Americans for Prosperity is backing up its letter with a petition drive, which can be found here. http://www.americansforprosperity.org/

Richard Kaplan--HispanicBusiness.com

Source: HispanicBusiness.com (c) 2009. All rights reserved.