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John Boehner Says Cut Government Spending--Except When it Gets Spent in His District

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When Representative John Boehner was sworn in as Speaker of the House last month, he said:

“Our spending has caught up with us, and our debt soon will eclipse the entire size of our national economy. No longer can we kick the can down the road. The people voted to end business as usual, and today we begin to carry out their instructions.”

Carrying out those instructions would, to most casual observers, include stripping $450 million from a $1.2 trillion spending bill. The money would have paid for production of an alternative engine for the military's next-generation F-35 Joint Strike Fighter jet, manufactured by Lockheed Martin.

President George W. Bush tried to kill the engine, as did President Obama and Defense Secretary Robert Gates, who said, in testimony before the House Armed Services Committee, "The president, the military services and I continue to oppose this extra engine," and vowed to explore "all available legal options" to shut down the program if lawmakers wouldn't.

You'd think this would be a perfect opportunity for Boehner to prove his cost-cutting bona fides. However, Pratt & Whitney, the company responsible for the F-35's engine, is not located in Boehner's Ohio district. But  the General Electric Aviation plant that would've gotten the work is.

Boehner told reporters that, “As you all know that I believe that over the next 10 years that this will save the government money.”

GOP Rep. Tom Rooney of Florida disagreed, saying the savings are "bogus."

“Competition does not mean buying two of everything,” Rooney said. “If that were the case, every aircraft would have multiple source engines.”
POSITION:  No positions in stocks mentioned.