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Pols Sink or Swim With the StimulusPosted on Feb 15, 2009
President Obama on Tuesday will sign the stimulus bill, which passed without the support of a single House Republican and with only three votes from the GOP in the Senate. With battle lines that stark, lawmakers have tied their fates to that of the bill. If the legislation succeeds, Democrats will take credit for stabilizing the economy and creating millions of new jobs. Republicans hope to hang a $787 billion albatross around their rivals’ necks if the plan fails.
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A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
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By JFoster2k, February 17 at 7:38 pm #
Forgive my cynicism, but the theatrical demonstration of Republican solidarity in Congress, casts a disturbing shadow across our political landscape. If Obama’s stimulous bill succeeds and the economy recovers, the Rupublicans will suffer a huge political defeat and 2010 will further secure the Democrat control of Congress.
If, however, the stimulous fails and our economy continues to tank, the Republicans will be vindicated for their opposition and likely regain several seats in the midterm elections.
So, the best thing that can happen now to ensure the future of the Republican party will be further national economic catastrophy…
Who do you think they are rooting for?
Report thisBy Old Ed Of The Delta, February 17 at 6:24 pm #
We have lost a significant amount of your blue collar jobs as they have been eliminated by sending the work to be done to factories overseas.
No amount of “stimulus” will work unless we have an hands on industrial base. The Feds. borrowing money and “lending” it to banks and financial institutions to keep them solvent will not work unless the money shows up the hands of the consumers that need goods and services.
Rather than using the “trickle down” method lets give the people the “trickle up” method where a trillion dollars will be in the hands of the folks on the street. Like the Salvation Army Bell Ringers, but only in reverse where they hand you tax free vouchers payable on demand as you walk by. This way you keep your anonymity and self-respect.
One argument that I heard against the “truckle up” mythology is that the masses are irresponsible and don’t know how to handle vast quantize of money. Within a short period of time the money would be spent on drugs, alcohol, sex, etc. and would wind up in the tills of the merchants and bankers anyway.
Whereas the leadership of the financial institutions are more responsible and deserving than the lowly peasantry. These institutions cannot be left to fail under any circumstances as we would all starve to death in the resulting world conflagration that would result in the end of our civilization.
We had an industrial base 80 years ago that pull us through the Great Depression of the 1930’s. We don’t have that base now. Building roads, bridges, dams, and parks are fine. But we must manufacture products that people can afford to buy through the efforts of their labor.
Just sitting behind a computer in a cubical doesn’t cut it as we are becoming a nation of bookkeepers, lawyers, salesmen, Black Jack dealers and stockbrokers, instead of skilled and unskilled labors that create a tangible product that is used and consumed by the public.
Let’s face it—not every Tom, Dick, Harry and Jane has the brain power to compete in this society or do they have the family influence to lift them up to the lofty careers and status enjoyed by their parents.
Luck has a lot to do with our station in life as exemplified by George W. Bush. “Hubba” was a failure in every enterprise that he participated in from his “tour” of duty in the Texas Air National Guard to that of President of the USA.
Here is a little food for thought: The beginning of the French Revolution Financial crisis and starting with the Assembly of Notables.
1786
August 20: Finance minister Calonne informs Louis that the royal finances are insolvent
December 29: The Assembly of Notables is convoked (summoned).
1787
February 24: First Assembly of Notables meets against a background of state financial instability and general resistance by the nobility to the imposition of taxes and fiscal reforms.
Does this kind of sound familiar?
Old Ed of the Delta
Report thisBy MaryET, February 16 at 3:56 pm #
(Unregistered commenter)
These past 3 weeks have been like watching a real bad movie on HBO that kept repeating every day. The repubs grumbled from day one down to the final minute. The things they made a stink about amounted to less than 1% of the package. They talked about their alternative stimulus plan but it was never aired. Now they are whinning that the plan was not placed on internet for at least 48 hours.
Report thisYes, the repubs found their voice: whiners, complainters, tax cutters, money for the rich and corporations, blow hearts, hot air, clueless.
By rollzone, February 16 at 1:02 am #
our economic downturn is because the rate of taxes is too high and all the people living off the public (government employees)keeps growing. this is just another political money grab;the same as when we were introduced to homeland security. go to work, buy American, vote out the republicat democrans, reduce the tax rate to four percent- let us see some real change. i do not anticipate this spending bill will do anything but line the pockets of those in the political lines with their hands out for payback. government will only help itself :to more of everything in your pocket. do not look to government to help the economy, unless it cuts back on what it takes out of the economy in a very big way.
Report thisBy P. T., February 16 at 12:37 am #
This is only the beginning. The stimulus makes up only about a third of the projected falloff in demand. Obama will have to come back to Congress for more money. This downturn is severe.
Report thisBy SteveK9, February 15 at 9:39 pm #
I cannot see this as a win for GOP under ANY circumstances. The WSJ (!) and Post are running stories that the efforts to please the GOP watered down the bill and it was made too small as a result—-a little on the late side guys. And, if the economy does not recover in the near term everyone will say ‘golly let’s quickly go back to W’s policies ???!!! I very much doubt it. I read a story that some Republicans are already boasting about the particular good that will be done for their state—-even though they voted against it!! How is that going to fly?
Report thisBy coloradokarl, February 15 at 8:51 pm #
This economic down turn is a golden opportunity for a renewal of the Mom and Pop small business model. I am disappointed the stimulus doesn’t focus more on the “Green” Business potential of our future. I would gladly give up My $12.00 per week to loan $100,000 to 180,000 bright and hopeful ideas. These New small businesses would seal the fate and end forever the false conservative neo-con blood luster’s treasonous power grab. A $12.00 wooden stake.
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