Bernard Sanders on The Stimulus

Rebuild America

In October of 2008, Senator Sanders issued a press statement noting the need for a stimulus package and the Federal Reserve's support for such a program.

Rebuild America

October 20, 2008

Senator Bernie Sanders welcomed Federal Reserve Chairman Ben Bernanke's endorsement of congressional efforts to craft a "significant" new economic recovery package. "Above and beyond the serious crisis facing our financial institutions which was caused by Wall Street greed, we must address the economic problems which are now impacting working families in Vermont and across the country," Sanders said. "That is why I support the passage, as soon as possible, of a strong economic recovery package which can create millions of decent paying jobs rebuilding our crumbling infrastructure and moving us to energy efficiency and sustainable energy."

The senator commented after Bernanke testified on Monday before Congress on the need for a new legislative package designed to create jobs and fend off recession. Without putting a dollar amount on the size of the package, the Fed chief said that "given the slowing of the economy, I think it should be significant."

It was the first time the central bank boss explicitly endorsed a second stimulus package. The government sent out about $100 billion in tax rebate checks last summer, but consumer spending has struggled since then. Retail sales fell for three consecutive months through September.

Sanders first publicly called on October 10 for what he dubbed a Rebuild America package that would fix crumbing roads, bridges, highways, schools, repair water and sewer systems, develop alternative energy sources, extend unemployment benefits, and expand health care services. "What I am trying to do now is work with others members of Congress to come up with a major Rebuild America program," Sanders said at the time.

Sanders was in Washington today to preside over a pro forma session of the Senate.

 

Call for a Stimulus

In December of 2008, Senator Sanders issued a press statement noting his view that a stimulus of at least $500 billion was necessary to help the economy.

Sanders: Unemployment Emergency Requires Urgent Action

December 5, 2008

BURLINGTON, December 5 - Senator Bernie Sanders (I-Vt.) called today for immediate action to create jobs in the wake of a new report that more than half a million jobs were lost in November, the worst monthly showing in 34 years.

The job losses pushed the unemployment rate to 6.7 percent, the highest rate since the recession of the early 1990s, the Labor Department reported.

Sanders called on Congress to pass an economic recovery package.

"This is an emergency. We need to jolt our economy back to life. Immediate action is needed to create millions of jobs," Sanders said. "The situation is urgent!"

The senator has advocated a stimulus package of at least $500 billion. "After years of neglect, our top priority should be a major investment in repairing our crumbling roads and bridges, fixing our schools, reviving our railroads, and making a major financial commitment to energy efficiency and sustainable energy. Now is the time to move forward aggressively because each $1 billion investment creates up to 47,000 new jobs," Sanders said. "If Congress can fork over $700 billion to rescue the Wall Street fat cats from their reckless gambles, why can't we put millions of Americans to work rebuilding our country as we address the severe economic crisis we face?"

Sanders also said Congress must take a hard look at the manufacturing sector in the United States. "American corporations must reinvest in America and stop taking away our good-paying jobs and sending them overseas."

 

Voting Record

American Recovery and Reinvestment Act

Also known as the stimulus, the American Recovery and Reinvestment Act passed the Senate along mostly party lines 61-37 in February of 2009. Bernard Sanders voted in favor of the American Recovery and Reinvestment Act.

 

Sponsored and Cosponsored Legislation

This representative has not been identified as sponsoring or cosponsoring significant legislation related to this title.

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