18
   

Despite a bipartisan effort...

 
 
nimh
 
  1  
Reply Fri 6 Feb, 2009 06:55 am
Meanwhile, someone finally gets to point out in the WaPo that the Republicans seem simply not to understand how a stimulus bill even works. They're just fundamentally ignorant of the basics of economics, and cover up their ignorance with a resort to ever the same handful of boilerplate answers, which they will apply no matter what the economic situation at hand they're trying to solve.

TPM's Josh Marshall highlights the key paras:

Quote:
there are some flickering signs that the tide may be turning, perhaps in response to just how nonsensical the conversation got earlier this week. For instance, in tomorrow's Post, business columnist Steven Pearlstein devotes an entire column to the fact most of Republicans on Capitol Hill don't even seem to grasp how a Stimulus Bill is supposed to work or even more basic stuff about demand, recession economics or even how jobs come into existence. As in, it's not a Stimulus Bill, it's a spending bill.

Tactfully, Pearlstein doesn't say explicitly for most of the article that it's Republicans he's talking about. You have infer that from the names of the members he dings. But toward the end of the piece he can't seem to help cutting to the chase ...

Quote:
what's striking is that supposedly intelligent people are horrified at the thought that, during a deep recession, government might try to help the economy by buying up-to-date equipment for the people who protect us from epidemics and infectious diseases, by hiring people to repair environmental damage on federal lands and by contracting with private companies to make federal buildings more energy-efficient.

What really irks so many Republicans, of course, is that all the stimulus money isn't being used to cut individual and business taxes, their cure-all for economic ailments, even though all the credible evidence is that tax cuts are only about half as stimulative as direct government spending.


It really does approach flat earth territory.

When you step back from the immediacy of the moment and consider just what nonsense these guys are spouting and what games they're playing while the country is legitimately in danger, it's breathtaking.
0 Replies
 
nimh
 
  1  
Reply Fri 6 Feb, 2009 06:58 am
In short, on the Republican side of the aisle, everyone's Joe the Plumber now. Because Joe's an expert now too, dontcha know. He was just doing the rounds of the economic institutes:

Quote:
Today I had one briefing, and that was at the Club for Growth, I spoke to Andy Roth. Now yesterday, I talked to the Heritage Foundation. I actually had the chance to talk to the Cato Institute as well, I guess you could call it a briefing, it was more of an interview. But all these bipartisan, or if you will neutral, think tanks are pretty much saying the same things.

Club for Growth ... Heritage Foundation ... Cato Institute ... "bipartisan, or if you will neutral".

The stupidity is just mindnumbing this week. I suppose that, too, will get a lot worse before it gets better.
0 Replies
 
nimh
 
  1  
Reply Fri 6 Feb, 2009 07:05 am
@maporsche,
Btw:
maporsche wrote:
Nimh, they aren't pressing it. I don't know where you picked that up.

It was John McCain who filed an amendment to strike down the "Buy American" provision. 30 Republicans and just 1 Democrat voted for it.

Again, it defies belief that this is the message Republicans want to take home to their constituents: "we made sure to strike down the provision that would have forced the money from government-funded stimulus projects to be spent on products that are actually made in America and thus would actually have a stimulus effect at home. We thought it was very important to give contractors the possibility to spend those billions of government dollars on Chinese products!"

Lucky for them, of course, the media simply ignore the question...
0 Replies
 
nimh
 
  1  
Reply Fri 6 Feb, 2009 07:50 am
Some straight talk (finally) from Obama - except he made it at a Democratic retreat instead of on TV:

Quote:
At a House Democrats retreat in Virginia, Obama said [..] that speedy passage of the bill was essential.

"We're not moving quickly because we're trying to jam something down people's throats," he said. "We're moving quickly because if we don't, the economy's going to keep getting worse."

Obama rejected calls for more tax cuts and significant slashing of the bill's cost, and said complaints the package was a spending bill rather than a stimulus bill were off base.

"What do you think a stimulus bill is?" he said. "That's the point."

The plan, which supporters hope will help turn around a crumbling economy that seemingly spawns more bad news every day, includes tax cuts, money for transportation and infrastructure projects and aid to states to keep workers on their payrolls among its many provisions.
Woiyo9
 
  1  
Reply Fri 6 Feb, 2009 08:05 am
@nimh,
The more Obama talks like this, the more it sounds as if he is BEGGING for ANYTHING to pass.

Obama has to realize that the present bill will not be effective and must get the shitheads in Congress to pull the pork out and actually pass a spending plan that stimulates the economy.
Cycloptichorn
 
  1  
Reply Fri 6 Feb, 2009 10:17 am
@Woiyo9,
Woiyo9 wrote:

The more Obama talks like this, the more it sounds as if he is BEGGING for ANYTHING to pass.

Obama has to realize that the present bill will not be effective and must get the shitheads in Congress to pull the pork out and actually pass a spending plan that stimulates the economy.


No, he doesn't have to realize that.

And I'm afraid you don't really understand what stimulates the economy; what is it you would recommend instead? And why?

Cycloptichorn
maporsche
 
  1  
Reply Fri 6 Feb, 2009 10:19 am
@Cycloptichorn,
I don't know why the Democrats are being so hard nosed about this...it's a measly 1% of the bill right? The republicans want to pass 99% of this bill, but the Democrats are holding out on this 1%.

I'm sure that giving 300 million to produce movies in Hollywood will have a great nationwide stimulus effect (of course it's not a payoff for generous campaign donations).
Woiyo9
 
  1  
Reply Fri 6 Feb, 2009 10:24 am
@Cycloptichorn,
You are the typical partisan who will accept whatever the US Congress put in front of your face.

PULL THE PORK OUT.

As an example .....

A roster of $88 billion worth of cuts was circulating Thursday, almost half of which would come from education grants to states, with an additional $13 billion in aid to local school districts for special education and the No Child Left Behind education law on the chopping block as well.

Some $870 million to fight the flu was among the first items to go, but other items divided the group.

At the same time, the group also was hoping to add perhaps $25 billion in additional infrastructure projects.

http://www.foxnews.com/politics/2009/02/06/senators-seek-trim-size-stimulus-plan-ahead-vote/

We need help now - not in 2010 (when $356 billion will be spent), not in 2011 and after (when $293 billion will be spent). If more than 60 percent of the spending comes well over a year from now, that's not stimulating - that's just teasing us.

Opinion polls show support for the stimulus bill is tanking because the American people know a duck when they see it - and this sucker is quacking so loud right now, it might bring down a US Airways flight.

If the Democratic Congress and the Democratic president want to spend $4 billion on stop-smoking programs and anti-obesity campaigns, then create a bill to do it, debate it, pass it and sign it. But don't do it in our stimulus bill.

Frankly, it's insulting.

Is it worth spending $6 billion to make federal buildings more green? Maybe - but what in God's name does that have to do with saving our economic bacon?

Nothing - it has to do with furthering the social goals that Obama outlined in his campaign.

And he admitted as much in an editorial in The Washington Post yesterday, writing, "Now is the time to save billions by making 2 million homes and 75 percent of federal buildings more energy-efficient, and to double our capacity to generate alternative sources of energy within three years."

Actually, no. The time to do that is after everybody has a job and enough to eat.


"Now is the time to give our children every advantage they need to compete by upgrading 10,000 schools with state-of-the-art classrooms, libraries and labs; by training our teachers in math and science . . ."

Sorry, we were too busy laughing at the idea of more teacher-training programs as "stimulus" to point out that education was one of the few industries last year that actually added jobs.


Does the National Institute of Standards need the extra $357 million it gets in the "stimulus" bill? Its entire budget last year was $931 million, so we're going to wager no - unless it will employ the thousands of out-of-work standardologists we keep hearing about.

Do we need to spend $1.1 billion right now to create the Federal Coordinating Council for Comparative Effectiveness Research? Say what?



My question to you is why are you so willing to accept any piece of crap that comes out of the House of Reps?
Foxfyre
 
  1  
Reply Fri 6 Feb, 2009 10:54 am
Quote:
"A failure to act, and act now, will turn crisis into a catastrophe."
-- President Obama, Feb. 4.

Catastrophe, mind you. So much for the president who in his inaugural address two weeks earlier declared "we have chosen hope over fear." Until, that is, you need fear to pass a bill.


Anybody who has spent any time reading Charles Krauthammer knows that he is not any kind of idealogue, but he has nailed the phenomenon that we are seeing with this disaster that Congress and our new President are about to deliver to us. Not only can only a small fraction of it be identified as economic stimulus, but this terrible bill includes huge expenditures that won't be restricted to just the current 'emergency' but will saddle us and our children for decades or generations to come. Permanent jobs created will be government jobs that the rest of us have to pay for. Most other jobs created will be temporary work and most of those will also be government jobs. The provisions of much of the pork built into it are so loose that Mayor Daley of Chicago won't even reveal what he has asked for knowing that it would come under heavy criticism. So he, and many others with their hands out, will tell us how the money will be spent after they get it.
http://newsblogs.chicagotribune.com/clout_st/2009/02/daley-refuses-to-release-stimulus-project-list.html

How much is a trillion dollars? It is a 68,000 mile high stack of $1 bills--that's about 1/3 the distance to the moon. It is $3,333 for every man, woman, and child in the USA, and by the time the interest on all that money kicks in a whole lot more. What would you do with your $3,333 if you were allowed to keep it? What would you do with it if the government handed you a check in that amount? Do you have a business? How is this helping you to expand and add jobs?

Quote:

The Fierce Urgency of Pork
By Charles Krauthammer
Friday, February 6, 2009; A17

"A failure to act, and act now, will turn crisis into a catastrophe."
-- President Obama, Feb. 4.

Catastrophe, mind you. So much for the president who in his inaugural address two weeks earlier declared "we have chosen hope over fear." Until, that is, you need fear to pass a bill.

And so much for the promise to banish the money changers and influence peddlers from the temple. An ostentatious executive order banning lobbyists was immediately followed by the nomination of at least a dozen current or former lobbyists to high position. Followed by a Treasury secretary who allegedly couldn't understand the payroll tax provisions in his 1040. Followed by Tom Daschle, who had to fall on his sword according to the new Washington rule that no Cabinet can have more than one tax delinquent.

The Daschle affair was more serious because his offense involved more than taxes. As Michael Kinsley once observed, in Washington the real scandal isn't what's illegal, but what's legal. Not paying taxes is one thing. But what made this case intolerable was the perfectly legal dealings that amassed Daschle $5.2 million in just two years.

He'd been getting $1 million per year from a law firm. But he's not a lawyer, nor a registered lobbyist. You don't get paid this kind of money to instruct partners on the Senate markup process. You get it for picking up the phone and peddling influence.

At least Tim Geithner, the tax-challenged Treasury secretary, had been working for years as a humble international civil servant earning non-stratospheric wages. Daschle, who had made another cool million a year (plus chauffeur and Caddy) for unspecified services to a pal's private equity firm, represented everything Obama said he'd come to Washington to upend.

And yet more damaging to Obama's image than all the hypocrisies in the appointment process is his signature bill: the stimulus package. He inexplicably delegated the writing to Nancy Pelosi and the barons of the House. The product, which inevitably carries Obama's name, was not just bad, not just flawed, but a legislative abomination.

It's not just pages and pages of special-interest tax breaks, giveaways and protections, one of which would set off a ruinous Smoot-Hawley trade war. It's not just the waste, such as the $88.6 million for new construction for Milwaukee Public Schools, which, reports the Milwaukee Journal Sentinel, have shrinking enrollment, 15 vacant schools and, quite logically, no plans for new construction.

It's the essential fraud of rushing through a bill in which the normal rules (committee hearings, finding revenue to pay for the programs) are suspended on the grounds that a national emergency requires an immediate job-creating stimulus -- and then throwing into it hundreds of billions that have nothing to do with stimulus, that Congress's own budget office says won't be spent until 2011 and beyond, and that are little more than the back-scratching, special-interest, lobby-driven parochialism that Obama came to Washington to abolish. He said.

Not just to abolish but to create something new -- a new politics where the moneyed pork-barreling and corrupt logrolling of the past would give way to a bottom-up, grass-roots participatory democracy. That is what made Obama so dazzling and new. Turns out the "fierce urgency of now" includes $150 million for livestock (and honeybee and farm-raised fish) insurance.

The Age of Obama begins with perhaps the greatest frenzy of old-politics influence peddling ever seen in Washington. By the time the stimulus bill reached the Senate, reports the Wall Street Journal, pharmaceutical and high-tech companies were lobbying furiously for a new plan to repatriate overseas profits that would yield major tax savings. California wine growers and Florida citrus producers were fighting to change a single phrase in one provision. Substituting "planted" for "ready to market" would mean a windfall garnered from a new "bonus depreciation" incentive.

After Obama's miraculous 2008 presidential campaign, it was clear that at some point the magical mystery tour would have to end. The nation would rub its eyes and begin to emerge from its reverie. The hallucinatory Obama would give way to the mere mortal. The great ethical transformations promised would be seen as a fairy tale that all presidents tell -- and that this president told better than anyone.

I thought the awakening would take six months. It took two and a half weeks.
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/05/AR2009020502766_pf.html
slkshock7
 
  1  
Reply Fri 6 Feb, 2009 10:59 am
@Woiyo9,
Well said, Woiyo....

During the gas price crisis a few months back, every Dem was sure to include the mantra "we can't drill our way out of this energy crisis"... Perhaps Repubs ought to start reciting something like "we can't spend our way out of this financial crisis"...
Woiyo9
 
  1  
Reply Fri 6 Feb, 2009 11:20 am
President Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.

CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net. [The House bill] would have similar long-run effects, CBO said in a letter to Sen. Judd Gregg, New Hampshire Republican, who was tapped by Mr. Obama on Tuesday to be Commerce Secretary.

http://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/

Obama and the Congress better get this right and keep it small with no pork.
Advocate
 
  1  
Reply Fri 6 Feb, 2009 11:38 am
@Woiyo9,
There is no doubt that, eventually, revenue must be increased. Otherwise, debt service will surely increase interest rates and crowd out private investment. But at the moment, we do need the Dem stimulus plan.

The Reps are truly disloyal, lying, bastards. In their opposition, to a man, to the House bill, they claimed that they analyzed Dem economist Romer's data, which they say shows that the Rep plan will produce double the number of new jobs. However, in yesterday's Charlotte Observer, Christine Romer herself contradicted this and called for passage of the Dem bill.
Woiyo9
 
  1  
Reply Fri 6 Feb, 2009 11:46 am
@Advocate,
The Democratic Plan that came out of the House of Rep. is a disaster and every objective observer agrees there is too much spending that is not directly tied to jobs and growth in that plan.

For you to suggest otherwise and call the Republicans "disloyal" in their opposition makes me think you are willing to accept anything Ding Bat Pelosi puts in front of you.

Passing a piece of crap bill for the sake opf meeting some artificial deadline is a dangerous. This Govt has to get it right and it is our job as citizens to hold these Congressmen directly responsible for correcting a problem they all helped create.
Cycloptichorn
 
  1  
Reply Fri 6 Feb, 2009 11:53 am
@Woiyo9,
Woiyo9 wrote:

The Democratic Plan that came out of the House of Rep. is a disaster and every objective observer agrees there is too much spending that is not directly tied to jobs and growth in that plan.


Oh really? Who would you call 'objective?'

Quote:
For you to suggest otherwise and call the Republicans "disloyal" in their opposition makes me think you are willing to accept anything Ding Bat Pelosi puts in front of you.

Passing a piece of crap bill for the sake opf meeting some artificial deadline is a dangerous. This Govt has to get it right and it is our job as citizens to hold these Congressmen directly responsible for correcting a problem they all helped create.


You wouldn't know **** if you had a mouthful, Woiyo. Why should anyone be concerned that you think the bill is a 'piece of crap?'

Advocate is correct. Boehner and the House republicans lied about the math behind their so-called 'plan' to cut taxes for the rich in order to create jobs. They completely made it up.

Just like the CBO report that supposedly was negative about the plan - another lie on their part. When the actual report was released it did not resemble their claims.

Cycloptichorn
Woiyo9
 
  1  
Reply Fri 6 Feb, 2009 12:03 pm
@Cycloptichorn,
I know you are not objective. You are just a partisan chump.

I provided you with a direct answer to your direct question, yet you ignore my direct question to you. So let's try again.

Why are you so willing to accept the Bill as it stands out of the House without question?
Cycloptichorn
 
  1  
Reply Fri 6 Feb, 2009 12:16 pm
@Woiyo9,
Woiyo9 wrote:

I know you are not objective. You are just a partisan chump.

I provided you with a direct answer to your direct question, yet you ignore my direct question to you. So let's try again.

Why are you so willing to accept the Bill as it stands out of the House without question?


Because I disagree with you as to the stimulative effect of the spending on many of the so-called 'wasteful' items in question. I don't have a problem with most of them.

There's always some fat to be trimmed away, but we're talking about less than 1-2% of the bill, not significant opposition to the entire thing. You bunch have been going on and on over what amounts to nothing at all.

Cycloptichorn
0 Replies
 
nimh
 
  1  
Reply Fri 6 Feb, 2009 12:17 pm
@maporsche,
maporsche wrote:
it's a measly 1% of the bill right? The republicans want to pass 99% of this bill, but the Democrats are holding out on this 1%.

Wrong. The majority of the Republicans want to pass 0% of this bill " 36 out of 40 Senate Republicans voted for an alternative bill that had no spending whatsoever, only tax cuts (and tax cuts largely targeted at higher-income Americans at that).

The remaining 4 want to trim the bill by some $88 billion " or about 10% of the bill.

And they want to do this when economists (aside from the Heritage/Cato hardliners who think even the New Deal was a bad idea) are already warning that the current bill might fail to pull the economy out of its freeze because it’s too small.
0 Replies
 
nimh
 
  2  
Reply Fri 6 Feb, 2009 12:19 pm
@Woiyo9,
Woiyo9 wrote:
Is it worth spending $6 billion to make federal buildings more green? Maybe - but what in God's name does that have to do with saving our economic bacon?

Nothing - it has to do with furthering the social goals that Obama outlined in his campaign.

Are you really that dim? How will it save your economic bacon? By creating jobs, hello. By requiring US products.

That money would have been spent on contracting builders to make those buildings green and buying the materials needed for that. How is that not stimulus? It’s stimulus pur sang!

Seriously " in terms of providing the needed stimulus, how is it different from improving a piece of electricity grid, or filling potholes in roads? And it’ll even save the taxpayer money in the long run too (greener buildings consume less energy).
nimh
 
  1  
Reply Fri 6 Feb, 2009 12:21 pm
@slkshock7,
They could, but they would be wrong.
0 Replies
 
Cycloptichorn
 
  1  
Reply Fri 6 Feb, 2009 12:23 pm
@nimh,
nimh wrote:

Woiyo9 wrote:
Is it worth spending $6 billion to make federal buildings more green? Maybe - but what in God's name does that have to do with saving our economic bacon?

Nothing - it has to do with furthering the social goals that Obama outlined in his campaign.

Are you really that dim? How will it save your economic bacon? By creating jobs, hello. By requiring US products.

That money would have been spent on contracting builders to make those buildings green and buying the materials needed for that. How is that not stimulus? It’s stimulus pur sang!

Seriously " in terms of providing the needed stimulus, how is it different from improving a piece of electricity grid, or filling potholes in roads? And it’ll even save the taxpayer money in the long run too (greener buildings consume less energy).


This is what I'm talking about. These knuckleheads haven't even taken a second to think about who has to do all this work, and whether or not that will create jobs.

Cycloptichorn
0 Replies
 
 

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