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Charles Djou on the President's Economic Speech Yesterday

Source: Djou for Hawaii

Honolulu City Councilmember and GOP Candidate for Hawaii’s open 1st Congressional District seat, Charles K. Djou, reacted to the President’s economic speech yesterday.

“The President got it right last week with a new strategy for Afghanistan, but I am troubled by his pursuit of an economic strategy that doesn’t work. This spring, when unemployment hit 7.5%, the Obama administration pushed through an $800 billion ‘stimulus’ package on the premise that it was needed to prevent unemployment from breaking 8.5%. Now that unemployment stands at nearly 10.5%, the President is asking for another $50 billion in stimulus spending to turn the economy,” stated Djou.

“The first stimulus plan swelled our nation’s budget deficit to a record $1.8 trillion and failed to stop unemployment from growing. It would be better for the Federal government to focus on reducing the overall tax burden and pushing more money into the hands of average citizens to stimulate the economy; rather than continue to ramp up government spending with so little to show for it. I share the President’s desire to turn around our economy, I just don’t share his enthusiasm for run-away government spending,” stated Djou.

Djou is the only Republican candidate for Hawaii’s open 1st Congressional District seat. He is a graduate of the University of Pennsylvania’s Wharton School of Finance and Commerce. As both a state legislator and city councilmember, Djou has consistently supported debt and spending ceilings on government spending and opposed all tax increases.
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Links:

Obama packs political punch into economic speech [Reuters] Tuesday, December 8, 2009

President Obama’s Afghanistan Speech at West Point [HPI] Tuesday, December 1, 2009