As the Obama economic recovery package comes together and heads to Capitol Hill, all eyes will be on congressional Republicans. Will they be with the new president or against him? It’s all in the price tag and details, suggested Senate Minority Leader Mitch McConnell, R-Ky., who used the word “trillion” 10 times Monday to describe the Democrats’ likely plan. “We should have a simple test: Will the yet-unwritten, reportedly trillion-dollar spending bill really create jobs and grow the economy – or will it simply create more government spending, more bureaucrats and deeper deficits?” House Minority Leader John Boehner, R-Ohio, has emphasized that he wants a plan to favor tax cuts over big spending. Is it too much to hope both parties’ leaders will treat the current economic peril with the same bipartisan spirit they exemplified post-Sept. 11?
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69 Comments
The answer to the question is easy: Nothing is free and it’s government backed money, so the taxpayers will bear the burden of the debt.
Sept 11 is apples and the economic downturn is oranges. You cannot compare the emotional pain and fear of 9-11 to the current government created economic crisis. Letting the markets stablize on their own is the fastest way out of this mess.
The GOP has no ideas except to obstruct.
The economic crisis of 9/11 pales in comparison to the destruction wreaked by the repubs and bush.
Taking advice on the economy from Republicans is like taking sex tips from the Pope.
They both preach abstinence, and prayer.
Why would ‘all eyes be on congressional Republicans’? They are the minority party. In the Senate, if only one or two RINOs approve then there is nothing to stop the lock-steppers from pushing through a so-called recovery package.
The real question is that will we have to wait 50 years before economists admit that these policies actually prolonged if not caused this economic downturn?
phantom has no ideas period
phantom and friends, plz try to really understand who obstucted and/or closed their eyes to get votes, resulting in our current economic crisis. You and your friends can simply point. If all the guilty just took a wee bit of the responsibility for what got us in this mess we might actually end up with a viable solution.
phantom, is spending trillions, that we don’t have, abstinence or prayer?
Why is a word like f**k blocked, but a poster like hick allowed to post. The latter is far more obscene.
maggotpunk. you sure are revealing how bright you are early this morning. what is your advise?
and then there is beber, always something important to say. just look at his 10 or so posts on the open thread so far this morning.
maggotpunk, i haven’t seen your advise or solutions yet? it surely doesn’t take you that long to type it’s bush’s and the republicans fault i.e. your normal “thought”.
Are you the new nanny, hick? You do have bot-like characteristics. Udderly predictable.
beber, as you do also, nothing, zero, zilch
beber (and friends) i have been reading these blogs for a long time. don’t post often as i can’t find the time and when i get back in there have been tons of comments added. but when they are yours, bj’s, maggot,capn, etc., that really doesn’t matter as you always say the same thing over and over and over, regardless of topic.
It will depend on just how many real REPUBLICANS are left in Congress. Not the big Government/ big spending Conservatives, Partisan likes Boehner. Many remember the words but have lost the meaning of those words. We are in a real dilemma some of the solution will take some wishful thinking.
The GOP will have to bend and swallow hard on some issue to get through this.
And yes in some cases in order to keep the lights on we will have to put the bill on a credit card.
As fiscally unsound as that is it maybe what needs to be done to keep this country from setting in the dark.
The kicker in all this is that I keep hearing that the money is there and its a lack of confidence.
We can not be like the ole man whom starves to death while his bank account is full. BTW that is hard for me to believe. So either the money is not really there or those saying it are not willing to admit that the free market theory was delusional as applied .
“The Government” isn’t exactly a solution.
The Government” isn’t exactly a solution.
True but they should stop aiding the problem, either by staying out of the way or not making it easier for the problem to function and exist.
Government jobs and work is just as productive, maybe more so, than private spending.
A government that works can be part of the solution; government of obstruction and ignore won’t ever be.
During the past eight years bushco did nothing to improve our economy. No one agrees on the question of when this began, but we know for sure it wasn’t halted, it wasn’t improved under bushco.
Everything bushco had a hand in was made worse. Eight years of incompetence ending in
16 days, 2 hours!
A PERFECT economic stimulus package would be a federal income tax and FICA tax suspension for two months.
All taxpayers would benefit, and it would cost almost nothing to implement.
Where was Mitch McConnell and John Boehner when Bush and Gang was spending billions and billions on what they wanted? And what did it bring us? war in two countries, loss of respect around the globe, high gas prices, failed economy, millions of lost jobs, failed housing market and the list goes on.
Seems to me the last two elections have been pretty simple – American voters are blaming the Republicanss for the mess we are in and that blame will only increase if the likes of McConnell and Boehner keep up their obstructionist tactics.
“KSGolfnut” suggests –
“A PERFECT economic stimulus package would be a federal income tax and FICA tax suspension for two months.”
I guess it’s true. When the only tool you have is a hammer everything starts looking like a nail.
If your “PERFECT” scheme were enacted it would likely turn into another version of Shrub’s rebate checks… which people used to pay down credit cards rather than buy more stuff.
True economic stimulus is not about giving people a couple months’ worth of extra walking-around money; it’s about jobs. Steady jobs. Good paying jobs. Jobs that contribute to infrastructure and have some semblance of relative long-term security.
No one’s gonna buy a house based on the extra few bucks that come from a two-month tax holiday. Only a fool would buy a new car on that basis.
Kansasgolfnut yes and no, The increase in spend-able income would be a boon to the economy.
But since moving away from trafts a good chuck of the Federal budget depends of the income from those taxes. Hopefully it would be more effective than the stimulus package was. It has always struck me odd that in some situations the deciding factor has been your gross income before taxes. Its not like you can tell the Government “Oh I am sorry but I need the money more then you right now!”.
More practical would be to trim the budget spending of tax dollars, do away with taxes on consumable goods which is a living cost. Like on food and utilities….
“Will the yet-unwritten, reportedly trillion-dollar spending bill . . . simply create more government spending, more bureaucrats and deeper deficits?”
You mean, Senator McConnel, like YOUR policies of the past eight years has?
Monkeyhawk is correct, if everyone had good paying jobs and the situation was not so serious than the increase in income from a tax holiday would be great. But there is no good done if the problem is a lack of income to begin with. There is a reduction in the income tax revue anyway the way things are going.
Partner in Socialism?
I hope that doesn’t happen.
If it does, then we have one political party competing with another political party for votes using the same strategy.
Vote Dem and we’ll give you all $10,000 in stimulous checks!
Vote Repub and we’ll give you all $15,000 in stimulous checks!
Vote Dem and we’ll give you all $15,000 in stimulous checks and a free car!
Vote Repub and we’ll give you all $15,000 in stimulous checks and a free truck!
And so on…………..
“the extra few bucks”
It would inject $350B into the economy, and also demonstrate to workers just how much the government takes out of every paycheck. Win-Win!
Moreover, I don’t disagree that the best long-term stimulus is the creation of jobs – by free enterprise, not the government.
Like the Dems were ‘Partners’ in controlling spending for the last 8 years.
Like the Dems were ‘Partners’ in fighting terrorists in the last 8 years.
Like the Dems were ‘Partners’ in cutting taxes for the last 8 years.
Sure, I can see why the Democrats expect the Republicans to be ‘partners’. Rigggghhhhhtttt.
A better stimulous package would provide for a $1,500 tax credit per person to purchase an American made AR. (Accessories included)
Gateway bait to a fair? or flat? tax?
No thanks.
“KSGolfnut” responds –
“the extra few bucks”
It would inject $350B into the economy, and also demonstrate to workers just how much the government takes out of every paycheck. Win-Win!
Using your figures, it would add $350 Billion dollars to the deficit.
The Era of Spend-and-Borrow has to end sometime, “KSGolfnut.” You realize that, don’t you?
Well, maybe not. Since you add –
“I don’t disagree that the best long-term stimulus is the creation of jobs – by free enterprise, not the government.”
“Free enterprise” doesn’t have any money and doesn’t have any prospects. And who do you think builds bridges and sewers and water systems?! Bureaucrats?
No. PRIVATE BUSINESSES get those contracts. Private business employees get those pay checks. It’s relatively difficult to out-source bridge construction to China.
Well, the elections says we don’t need any cons as partners.
They can help improve the lot for working Americans, or they can stand in the way and lose some more in 2010.
Take $350B from the already appropriated “rescue fund” and DON’T SPEND IT. Give the taxpayers their own money to spend. Are you afraid of this plan because those that pay no tax won’t benefit?
This isn’t borrow and spend. It’s tax relief. Isn’t that what your Obama promised?
Oh you’d like that wouldn’t you goof?
The people you exploit keep a little more for a couple of months. You keep a lot more.
You get them liking the idea to maybe even vote to make it permanent….
Then, they get hit with the weight of the bill in the form of a consumption tax.
No thanks.
“It’s relatively difficult to out-source bridge construction to China.”
True. But it is easy to hire illegals to do the work of construction.
“Hud” responds to –
“It’s relatively difficult to out-source bridge construction to China.”
With…
“True. But it is easy to hire illegals to do the work of construction.”
Sounds as if failure to comply with employment regulations is centered in “KSGolfnut’s” vaunted “free enterprise,” then.
“Will they be with the new president or against him?
treat the current economic peril with the same bipartisan spirit they exemplified post-Sept. 11?”
Gosh I sure hope republicans will not continue to sacrifice principle to support the opposing party.
That should be a big “duh”, no different than if you were to turn the question around when a republican Prez is sworn in.
Nice try trying to relate the current manufactured economic crises – to an attack on the United States.
Or course we witnessed bipartisanship when the US was directly attacked.
Nice try though
“The economic crisis of 9/11 pales in comparison to the destruction wreaked by the repubs and bush.”
Phantom I don’t remember 9/11 is an “economic” crisis.
I remember airplanes full of Americans slamming into buildings full of Americans.
Linda diagnosed the ‘problem’ correctly.
Any posts with numbers or links have to “await moderation”.
Personal attacks without swear words are OK.
FLAME AWAY BABY!
G*d! That post went thru!
That settles it, the WEBlog wants to encourage Personal Attacks.
This generates the most number of web hits and thus maximizes advertising revenue.
The WE learned this game from the Repubs & Dems, who pit 1/2 the country against the other 1/2. And both parties get enough power that way to keep THEM going forever. They couldn’t care less about us.
And so did that one! Unreal.
I’m going to post in numeric form next:
two plus two equals four
(I bet the WE doesn’t like numbers)
2 + 2 = 4
Wow! That worked!
Must be random acts of moderation….
Remember the time we were all discussing food, in a most enjoyable and non-partisan way, and discovered if we used the word “Texas” in our posts they went to moderation limbo?
It took us awhile but we figured that one out. This one seems to be more inclusive and I can’t find a rhyme or reason. But if the Eagle does nothing, I think together we could all discover the ways around the stupidity.
Posted January 4, 2009 at 12:00 pm
“The economic crisis of 9/11 pales in comparison to the destruction wreaked by the repubs and bush.”
Phantom I don’t remember 9/11 is an “economic” crisis.
I remember airplanes full of Americans slamming into buildings full of Americans.
Boy I remember 9/11 being an economic crisis! Where my wife works took a huge hit because of it.
The work slowed down to a crawl and her hours were cut and never truly came back. I will grant that we (this country) was so shook up that we did not respond as we should have and that had an undue effect on the economy.
Your comment is awaiting moderation.
“No one’s gonna buy a house based on the extra few bucks ”
Unfortunately, buying houses is more about people being extended beyond their income and taking out Home Equity Loans based upon the artificial inflated valuations of their homes. Both home buyers, owners, and greedy lenders all contributed to the home mortgage crisis which started the economic crash.
Oh gosh, it won’t let me finish my thought/post.
Has zero cuss words, attacks. Had some statistics, dates, and percentages (numbers).
amybee niverting hte ifirst wto eletters fo veery owrd owuld owrk?
What this means, is the artifical bubble is still out there. My adult child and spouse live in California where the cost of a “starter” home is STILL way beyond 2009 average income levels. The small home in California is $350,000. A home of like comparison here in Kansas we found for about $120,000. Yet incomes in the high cost states is no better overall than here.
So, if we try to SAVE the overpriced home markets at their inflated rates, to prevent further slippage, foreclosures, bankruptacy by home equity loans – we are stopping low income and young people from being able to BUY A HOME.
Further, the bad credit crunch has caused banks to clamp down on loans, which makes it even HARDER for low income or first time buyers to qualify.
It’s not their INCOME that’s the problem. It’s
the still inflated home prices
hWoops. oSorry. aHd a ytpo.
aMybee niverting hte ifirst wto eletters fo veery owrd owuld owrk?
Sorry, people will get hurt, but the solution is not throwing MORE MONEY at the problem. It’s letting the market drop, stocks drop, investments drop, and finding a real market level.
The alternative will NOT help the idea of everyone should own a home. It will only prolong the agony until we wake up and realize the government cannot resolve every problem which comes along.
Next up: Credit Card defaults.
oSrry.
Your comment is awaiting moderation.
“No one’s gonna buy a house based on the extra few bucks ”
Unfortunately, buying houses is more about people being extended beyond their income and taking out Home Equity Loans based upon the artificial inflated valuations of their homes. Both home buyers, owners, and greedy lenders all contributed to the home mortgage crisis which started the economic crash.
Prices in CA were in need of correcting. The market was working to do just that.
Government regulation (keeping interest rates artifically low, forcing credit to be given to those who couldn’t pay) was working against the market, forcing the housing (and other) prices to stay artifically high.
I do not believe we can “artifically” stimulate home values to boast back up the housing market and handing billions to rich bankers certainly didn’t do any of us any good. In fact – it might hurt!
WOw! That was more effort than I’m willing to continue with. Still, didn’t post in correct sequence and missing point.
My point was the government stimulus packages have not worked, neither has the bank bailout. Just more money down the tubes by government trying desperately to “restore confidence in the markets”.
Trickle up didn’t work with either Bush Stimulus package (which democrats applauded and modified the second of which).
Trickle down from the bankers isn’t working. And Obama is going to hold off on increasing taxes on the rich (why? because he believes we still need trickle down).
We have to ride this storm out. We all will suffer, to varying degrees and in different fashion.
But we cannot spend our way to prosperity. It ain’t a gonna happen. Neither republicans nor democrats will make it happen.
The market was working to make pricing corrections.
Let the market work, we have two years of deep recession and pain, then the dust settles, the air clears, prices are reset, and growth begins again.
Instead, the Government interferes, spends Trillions of Dollars in bailouts and stimulous handouts, saving the short-term, but making the long term fall even longer and harder.
The Government can’t prop up the economy forever. Eventually, the fall is coming.
Do you want it fast and now, or do you want it slow, and deep, and later?
Can’t believe that got by the censors! heh heh
JJ you said it better than I did.
I can’t believe the home prices – even after the recent drops, along the west coast and in Arizona.
Still astronomical for young people just starting off.
I wouldn’t buy either if I was in their shoes!
Not yet.
Has anyone else noticed the drop of shrill cries from the oil lobby to drill baby, drill? I wonder if the drop in price has anyting to do with it, like maybe they aren’t really interested in satisfing demand after all, but profits driven by specualting? Just wondering…….
I always thought the “shrill cries” of “drill, baby, drill” were at best misguided.
———
‘Drill, baby, drill’ process has begun
WASHINGTON (CNN) — Remember “drill, baby drill”? In its last weeks in office, the Bush administration is starting to make it happen by quietly starting the process of exploration and drilling off the coast of Virginia.
http://www.cnn.com/2008/POLITICS/12/20/oil.drilling/
On the other hand, I haven’t see the shrill cry to “conserve” “convert” “go green” pushing alternative fuels either.
Stalemate. Except we all loose. Things were evolving much more quickly with $4.00 a gallon.
Bring on $5!!!!!!!!
RoaCH: The fastest way to releive our dependency IS conservaton. I see that aspsect and a lot of push for windfarms, solar panels, insualtion, smart homes, renewabele energy sources, tidal energy and turning down the lights and thermostats. Guess I’ve been reading those damn lefty rags again.