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When President Barack Obama said some kind of stimulus needed to be instated to keep the, then, 8.5 percent unemployment rate from rising, Thompson was in the beginning of his freshman year as congressman.
"I think they rapidly and carelessly put together the stimulus package. Essentially spent $9 billion, and you have to add all of the finance costs because we borrowed that money from China, and it comes to $1.3-1.4 trillion," Thompson said. "How did it go? Last Friday, unemployment hit 10.2 percent for the first time in two decades it went over two digits. We lost 3 million jobs since January. I don't think that worked out real well."
Looking out at the various DuBois Area Chamber of Commerce members who attended or sponsored the Business Over Breakfast series, Thompson said "you are the true economic engine - small business." Since the beginning of the year more taxes, regulations and mandates have been put on small business.
"If we wanted to stimulate this economy back in January we should of cut taxes, cut regulations, get out of the way and unleash small businesses," Thompson said.
He said post-stimulus, he was able to have his second interaction with Gov. Ed Rendell. At this time, Rendell was working to cut Penn State, Temple, Pitt, and Lincoln universities.
"I took that issue on, got some support from some other colleagues and we sent a letter to Secretary Duncan, secretary of Education, and laid out the issue that the law is the law. I don't agree with much of the stimulus, but the law says public related institutions should be able to receive that," Thompson said. "I was amazed at the turn around. I think within 72-hours we had a response back from the secretary. The secretary said you're right, the governor is wrong."
Recently, the governor re-filed the application to toll Interstate 80. Thompson said while Rendell seems confident that this is the answer, Thompson is not. Thus far, applications to toll I-80 which have been made by the governor have been twice rejected.
"Here we are, the same week you reapplied, it has been announced publicly that the agency you want to double the scope and size and turn over the keys to Interstate 80 is now under investigation by the FBI. Here's the thing - they're so corrupt they called the FBI on themselves to investigate a problem somewhere around Valley Forge," said Thompson to a snickering crowd. "I said that to the governor and the governor said 'that's not true.' I guess you create your own reality."
The impacts tolling would have on the 5th District would be economically devastating. Thompson said while he was in the area the past few days, he met with Domtar paper company in Johnsonburg, who said they would incur approximately $880,000 in additional costs if I-80 was tolled.
In Thompson's eyes, another issue that is important - even more important than health care - is dairy farmers.
"Our dairy farmers are bleeding to death financially and it is something we all need to be concerned about," Thompson said. "Food supply is the ultimate threat to national security. We're blessed in this country. We pay the least per person for food and for the highest quality of food than anywhere in the world."
Because of government's interference in milk pricing, Thompson said the average dairy farmer is losing $100 per cow per month.
"The most alarming statistics you hear about is the amount of suicides among dairy farmers," Thompson said.
One of several short term solutions he's been working on since in office is increasing milk exports to bring the inventory down, affecting supply-and-demand and bringing prices up.
A long term solution he has 24 members of Congress signed onto involves an alfalfa seed. This alfalfa would be a ready food source for livestock. Thompson said it also increases the acreage productivity by $100 per acre. In order for the seed to be used the Department of Agriculture has to perform an environmental study which is a year overdue.
Thompson also said in the last year he has traveled to Afghanistan and Iraq to thank the troops serving there for their service.
"I've got to tell you. We've got a lot of folks here from home that were over there," Thompson said. "It was very humbling as I got on the tarmac I'm expecting to find them and thank them, and they'd find me and thank me first. They were just so pleased someone from home had taken time to come to those theaters."
He said the primary request from the soldiers he spoke to was "tell our story."
"Iraq's not in the news at all because the media doesn't want to cover the successes and victories of our men and women serving over there," Thompson said.
Recently, Gen. Stanley McChrystal said there is a need for more troops on the ground in Afghanistan - approximately 40,000 with 10,000 serving as trainers. Since that recommendation was made, Pres. Obama has been debating it's many possibilities.
"He (Obama) had Gen. McChrystal do an assessment in Afghanistan - that was his job, that was his assignment. He did that, he submitted the assessment and it said we need more troops. My approach to this is that I trust the commanders on the ground," Thompson said. "The president is sitting on this. What I'm afraid of is that is Plan A, then there is Plan B, C and D being written by politicians and bureaucrats. That's wrong. As a father of a wounded warrior of Iraq I can tell you that that is what gets our men and women killed."
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Reported by Katie Weidenboerner, staff writer. Email: katiew@thecourierexpress.com.
