WASHINGTON, D.C. –U.S. Senator Kay Bailey Hutchison (R-TX) today released the following statement on her upcoming vote against increased funding for the ‘Cash for Clunkers’ program:

“After listening to all sides of this issue, I must vote against another $2 billion for the ‘Cash for Clunkers’ program. Whatever short-term gain we might receive from this spending is more than outweighed by the long-term debt and financial burden we are passing on to future generations. We don’t even have a report on how much has been spent on this program, nor reliable estimates of future requirements. It would be irresponsible to pass on another $2 billion with so little information.

“This is difficult, because I am concerned about the treatment auto dealers have had in the government takeover of the auto industry. And while I believe the nation’s auto dealers have suffered greatly and often times unfairly, the worst thing we can do is make them forever dependent on government giveaways. That’s bad for business and bad economic policy. I have tried hard, with some success, to help those whose dealerships were closed. I will continue to try to help create jobs in the auto industry, and other industries, that will build our economy for long-term stability.”

From Fox News:  President Obama may have to break his campaign pledge and raise taxes on middle-class Americans to pay for public health care and the growing deficit, an eventuality that administration officials touched lightly on Sunday as they promoted an economy emerging from recession.

With an expected deficit next year of $1.8 trillion, and spending still being planned for a $1 trillion, 10-year health care reform, officials say something will have to be done to prevent further erosion of the economy.

“We will not get this economy back on track, recovery will be not strong and sustained, unless we … can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established,” Treasury Secretary Tim Geithner said on ABC’s “This Week.”

Asked point blank whether it was right to suggest it is a matter of when, not if, taxes will be raised, Geithner responded, “It is absolutely right.”

Read the full story here. http://www.foxnews.com/politics/2009/08/02/obama-officials-end-recession-near/