Reed Calls House Accounting Practices “Absurd”

FOR IMMEDIATE RELEASE

 Tom Reed reacted to yesterday‟s House approval of borrowing an additional $26.1 billion by shining on a light on the “absurd” accounting practices of the House of Representatives. Democratic leadership brought the House back into session to approve an additional $26.1 billion bailout to state governments.

“That‟s another $26.1 billion borrowed on the backs of our children,” Reed said. “Even more frustrating was the fact that this bailout is paid for by tax increases on businesses and a cut in food stamps in 2014.”

“The accounting is absurd,” Reed said. “This is like a family saying, „We can‟t afford to pay for an expensive vacation now, so we‟ll borrow the money and pay it back by not getting groceries four years from now.‟ Is that responsible? Is that how we spend tax payer money?”

Reed observed that the larger issue beyond the borrowing itself is the approach to government. “This is unfortunately so typical,” Reed lamented. “Instead of making difficult decisions and having a chance for a better tomorrow, the buck is simply passed on to the next generation. This mentality has to stop. We cannot borrow our way back to prosperity.”

Reed also questioned the timing of the bailout coming less than three months before the election. “When I am in Washington I will not avoid making difficult decisions just so I can buy votes before an election,” he pledged.

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