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Tags: waltz | obernolte | infrastructure | spending

Reps. Waltz, Obernolte to Newsmax: No Funding Specified for Infrastructure Plan

By    |   Tuesday, 20 July 2021 02:43 PM EDT

The bipartisan infrastructure plan coming up for a vote this week is being presented with no agreement on how to pay for it, Rep. Michael Waltz told Newsmax on Tuesday. 

"The amazing thing here is that there is no agreement on how to pay for it," the Florida Republican said on Newsmax's "John Bachman Now," where he appeared with fellow Rep. Jay Obernolte, R-Calif. 

"So this is just debt spending on top of debt spending," Waltz added. "I'll remind you when [President Joe] Biden came in and started his spending spree, we already had a trillion [dollars] unspent from the last Congress from the CARES Act and others, and they added another $2 trillion on top of that, and now they're talking about $3.5 trillion in social infrastructure and then this $600 billion. ... The spending is out of control in Washington."

The United States does need an infrastructure package for its roads, bridges and more, but that is "getting buried in this avalanche of progressive spending," Waltz said. 

Obernolte said: "The absolute tragedy here is because infrastructure should be a bipartisan issue. We all agree that one of the primary responsibilities of government is to provide for society collectively the things we're unable to provide for ourselves individually, like roads and bridges and ports and airports. But as you say, we have spent so much government money over the last 12 months that we all should be questioning whether or not it's wise to dump more money into the economy right now."

He added that he "strenuously" disputes what Biden has said about inflation, as that is something that should worry everyone. 

"Unfortunately, it's got a disproportionate impact on the most vulnerable segments of our population, which is the poor and the working poor, so it's something that we are very concerned about," Obernolte said. 

The policies will also force currency down and hurt the buying power of seniors who are on a fixed income, Waltz said.

"Eventually we're going to see downward pressure on the stock market,'' Waltz said, "when the Fed has to raise rates, so their pensions and their and their lifetime investment will also decline."

It is ironic to raise money to address COVID when the United States is "spending ourselves into oblivion" but borrowing money from China before putting the money back out with stimulus funds that are "going right back to China through Amazon, through Walmart, and right back into Chinese-based manufacturing," Waltz said. 

"It is a full horrible circle that's happening, and if you talk to the Chinese military, they don't plan to defeat the United States militarily," Waltz said. "They plan to wait until we're bankrupt and we can't afford to compete with them anymore. And the left has just got their foot on the gas right in the Chinese battle plan."

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Sandy Fitzgerald

Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics. 

© 2024 Newsmax. All rights reserved.


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The bipartisan infrastructure plan coming up for a vote this week is being presented with no agreement on how to pay for it, Rep. Michael Waltz told Newsmax on Tuesday. 
waltz, obernolte, infrastructure, spending
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2021-43-20
Tuesday, 20 July 2021 02:43 PM
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