Expected Debate in Congress Over New Economic Bill »
Posted By altnrg 10 months ago in News
Republican lawmakers are expected to review Democrats’ proposed economic recovery bill which is estimated to exceed $700 billion and is regarded as the largest spending measure of all time.
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jordan1110 months ago
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They should review it. That's their job. But if they are against it for any reason, they should be prepared to come up with good reasons as well as alternatives that stand up to their own scrutiny. As long as this doesn't become an obstructionist game because republicans don't want Obama to look good, then I'm fine with their reviews.
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beavith1Comment removed: Spam
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CaptainLucid10 months ago
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Hate to say it but reviewing it is the problem the republicans problem. The loser dems heroically snatched defeat from the jaws of victory. They had the idea to try to stablize the housing and financial markets by making a huge amount of money available to cover risky loans and credit lines while the market settled down. The republicans told them if you don't pass the plan to save W's reputation we will blame you for everything. If you try to save W's reputation and the markets, we will call it wasted money because the market would have improved anyway and the bleeding heart liberals just wasted big government money if it succedes. If it fails then it is all because the dems plan was flawed. The dems agreed that they were losers and tried to get some republicans to back the bill. The republicans said give us some pork and don't put any nonsense like prohibiting us from just giving the money as bonuses to the people responsible for the mess because they are best republican friends. So the dems passed the crap and sure enough the republicans sent the money as bonuses to the thieves. When will the dems learn that the other side plays to the death and thinks nothing of using Americans as policy shields.
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PatrioticAmerican9 months, 4 weeks ago
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So you think the way to stop spending is to spend more???? , Decrease the deficit by adding to it for years ???? lower taxes for those who make more then 250k oh wait thats down to 150k or has it dropped again but raise the taxes for those that make the products we need so that they leave the country or just get taxed out of business??? Let me guess you think that the 500 Dollars that Obomba wants to give every American over 1 years time will help save their homes or help in anyway for that matter ??? if so explain how, Foe a man who wants to be the 2nd lincoln i think he needs to be a little more honest about how he wants to screw America. LOL you guys say Bush is bad< and this moron has already done more to look bad about his policies and his friends then it took Bush 8 years to supposedly do. 8 days till change comes to America, the changing of ALOT more of your money going to the fat lazy welfare drawing people of america who take advantage of the system and Obama is helping them continue by giving them money from those of us who have a work ethic, You people who voted for this idiot deserve to end up broke and homeless.
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cushi9 months, 4 weeks ago
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Propeller playing misplace the comment again!! This should have followed PatrioticAmerican's rant above.
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What's your solution??? Where were your concerns over the last 8 years and your counter alternatives? Anybody can beitch and complain...that's just like barking dogs. Come up with a better solution or get somewhere and sit down.
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CaptainLucid10 months ago
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Sounds like California budgeting. We have a few republicans left here but thankfully none left in the bay area where I live. Republicans do exactly one thing in California and that is to promise to ruin the state by refusing to add anything to the 2/3 vote needed to pass. The roboticans repeat "no new taxes" constantly which also takes a 2/3 vote. What the republicans will never do is suggest anything like a solution. The republican attitude is if we don't win we will make sure the country does not win.
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nostalgia10 months ago
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Expectations are too high
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History and recent articles indicate that Washington is about to make the same mistakes that made economic downturns last longer than necessary
FDR and his programs lengthened the Depression according to many economists that are now honestly looking at the data
Japan did the same thing in the 1990's and lengthened their recession by years - massive infrastructure spending and lowering interest rates to zero
When you look at the history of Washington, there are serious questions
For example, what did they spend all of the money on from the Transportation Trust Fund all these years and we still end up with roads and bridges in need of repair?
How can we have a Dept of Education that has spent billions and we still have failing schools? The Dept of Ed has presided over the largest decline in national test scores in the history of this country. If this is success, I'd hate to see failure
Just look at what the states and cities are asking for - money that will not meet any definition of infrastructure or stimulate local economies
Washington doesn't have a clue and they are going to do what they do best - throw money at it and make it look like they are doing "something"
The deficit for next year is going to be over $2 trillion
You can't spend your way to prosperity - would you try that with your own finances? Many people have tried that for decades and where did that get us - a housing meltdown and the largest consumer debt load in history-
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wtagg9 months, 4 weeks ago
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"FDR and his programs lengthened the Depression according to many economists that are now honestly looking at the data"
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There are just as many who disagree, so this statement alone provides no evidence suggesting it is true. It is something that will forever be left to speculation and conjecture.
The only thing you are suggesting is that Paul was right and everyone else was wrong, which is probably much more correct than many want to believe in and why he is called a kook. I guess I'm proud to say I voted for a kook.
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amazed9 months, 4 weeks ago
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FDR's programs may or may not have prolonged the depression, but what IS certain is that we could NEVER implement government works programs the way FDR did today.
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FDR took out of work people and paid them a minimum (meaning not a whole lot of money, not a statutory minimimum) wage in exchange for their jobs providing public works. This was a good thing because most everyone would rather earn what they have than accept charity. When the economy finally started moving again in the private sector, most (but not all) of the 'alphabet soup' agencies were shut down and the workers were (for the most part) transferred into private sector jobs -- or the military -- after all, WWII is when the depression truly ended, whether coincidentally or not.
Today, civil service unions are so strong, that, in fhe first place, there would be massive resistance to wholesale hiring of gobs of workers to do the public works projects that haven't been getting done with the present workforce. These workers would have to be paid "prevailing" (aka union) wages and all benefits that are due to any other public servant. If construction companies are hired to do the work (as is often the case in CT, at least) they construction company must match the wages and benefits that the state workers get, anyway. If they are civil servants, they are going to be permanent employees of the government, meaning that this massive infusion of money to hire workers into the economy is not a short, or even medium term thing, but a huge, permanent expansion of government, meaning that taxes will have to rise a whole lot to pay for these workers because even fewer of the rest of us will be working for private industry and those left will have to pay for the salaries of the vastly increased government workforce, bringing us ever closer to the socialist policies that sank the Soviet Union and is bringing much of Europe to her knees.
So, while I don't "hate" FDR's programs, I also don't believe that they are appropriate to today's problems.
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qantumreflection10 months ago
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The real heartbreak in all of this is the lost oppurtunity, lost possibilities and the deferred bright future that the spending of the past 8 years.
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Imagine the US only being in Afghanistan, as that is where the terrorists of 9-11 were originally attacked. Imagine not spending trillions of dollars on a morally grey war, lives wasted, millions affected by the disruption of mobilization, wounds and the associated costs of their health claims. Imagine all those americans help propping the economy. Imagine the surplus, the one created under the Clinton administration, not flittered away, being used to pay down debt, lowering taxes for the hardest workign of amercians, the bettering of all americans, schools rebuilt or new. Better infrastructure of all kinds. Better hope for our young amercians and less or no economic burden on the chilodren and our grandchildren. A better world.
Frittered away. For the benefit of a few. This is what makes me angry. Now the only way we can achieve any hope for the future is to burden the generations of tomorrow.
Bush is worried about his legacy. If he was concerned about it from day one things would likely be much different. -
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TheNewsseeker10 months ago
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In Germany, too, where a "first aid package" of 50.000.000.000 is planned, it is very difficult too keep the balace of two important aims: helping the economy and encouraging to more consumation and investments on the one hand and keeping the debts into the realm of the EU-contract on the other hand! Perhaps even more than the Americans, the Germans panic when they hear about their government making new debts, taking new credits, because the experience of our currency losing two times all its value has caused a kind of allergic reaction.
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President-elect Obama won´t be able to end up with this crisis without opening his purse in order to lower interest rates, handing out consumer checks and subventionate the car industrie. President Bush obviously was too occupied in Irak too see the writings on the wall. He left some great charges to his successor. We all hope, he´ll make it! -
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Tcaros10 months ago
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Bush intentionally tanked the economy. It's his family, the world bankders, and elite that have created this "crisis."
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Bush is trying to distract from the war crimes and investigation of his illegal conduct by doing this. Also, they are robbing the treasury and profiting off the war.-
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amazed9 months, 4 weeks ago
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Oh please.
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While I agree that Bush's policies were not at all good for the economy, there is plenty of blame to go around. In fact, the President's powers are quite limited.
It would make more sense to look at Congress for this debacle -- both Democrats and Republicans -- from the fighting of more regulations on what type of loans Freddie and Fannie could back, to the encouragement of "universal home ownership", to the lack of enforcement of the rules and regulations that were on the books -- it falls squarely at their feet. Yet we continue to return these same turkeys to DC every two years.
The definition of insanity is repeating the same action, yet expecting different results.
Which makes us, the people, also responsible.
Instead of whining about Bush, it would make more sense to try and get your own finances in order. Pay down your credit cards. Put aside a nest egg. Do whatever you can to insure that the company you work for remains at least marginally profitable. Pay your bills on time. If you can't seek a NON-PROFIT credit counselor to help you dig out, but not one who promises to repair your credit or charges you anything up front.
Here's another true cliche -- if you're not part of the solution, you're part of the problem.
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buckncindykill9 months, 4 weeks ago
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Is there anything we can do while our esteemed Congress sets about the task of stroking larger businesses and campaign contributors? Yes. We can go out of our way to become small business customers. I now do everything I can to buy whatever it is I need from a small business. I'll try to stay away from the big box scores as much as practicable. Groceries, socks, hardware, restaurants ... whatever ... I'll look for the small independent businesses. If more people would do the same we might be able to help some of these small businesses stay alive until this economic crisis has passed. Certainly worth a try.
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