Democrat NO Check on Power in Senate: Stimulus to GROW even bigger

KingCondanomation

KingCondanomation

New member
Great thing we have the Dems in control of the senate and providing a check on Obama and Pelosi. Or wait they're from the same party, why would they bother checking the power of their own party? The stimulus and government spending already high is amazingly set to grow even more in the Democrat run senate.
Who could have predicted such a thing?

Lobbyists Raise Stimulus Price Tag
"WASHINGTON -- Lobbyists for industry and labor are gearing up to add costly proposals Tuesday to the Senate's nearly $890 billion economic stimulus plan.

Weiss Research analyst Mike Larson explains to Simon Constable how massive government spending could send mortgage rates higher so torpedoing any chance of a recovery in housing.
Florida citrus growers, California wine growers and a range of agricultural interests are pushing a tiny change that would allow farmers to more quickly depreciate new fields. High-tech and pharmaceutical companies want to save billions in taxes by including a plan that would allow them to bring overseas profits back home at lower tax rates. Labor unions are pressing Congress to make sure that new government funding for green technology results in jobs with good pay and benefits for workers.

Together, the competing lobbying efforts are likely to drive up the overall cost of the stimulus package that President Barack Obama and congressional Democrats hope to enact by the end of next week. The Senate version of the legislation, which Senate leaders hope to approve by week's end, has already swelled to $885 billion, according to a new estimate released Monday by the nonpartisan Congressional Budget Office.

A key Democratic architect of the bill, Senate Finance Chairman Max Baucus of Montana, said the measure "has been carefully crafted to produce meaningful improvements to our economy."

Republicans are stepping up criticism of the measure, saying the spending that accounts for two-thirds of the package is a waste of taxpayer dollars. They are pushing instead for greater tax cuts. "Republicans believe we must put money back into the pockets of taxpayers," said Senate Minority Leader Mitch McConnell (R., Ky.)"
http://online.wsj.com/article/SB123358404214039275.html
 
Really its the same behavior Republicans employed while in power which is of course what caused them to lose power.
 
and the endless ridiculous cycle of partisan failure and demise of america continues idiots like topspin who can only revel in the whining of the opposite party even though his own is doing the same exact thing he wailed about for 8 years.
 
The stimulus should be twice as big with most of the focus on spending .. and banks should be nationalized. So says Nobel economist Paul Krugman, who was one of the first, and certainly the most visible noted economist to warn of exactly what has happened today.

But Obambi and his administration do not have the courage to do what is necessary.
 
SmarterThanYou said:
and the endless ridiculous cycle of partisan failure and demise of america continues idiots like topspin who can only revel in the whining of the opposite party even though his own is doing the same exact thing he wailed about for 8 years.
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thanks tool, I converted so how did I wail.
Smarterthanatwoyearold should be your name:readit:
 
I say let the businesses that were stupid and took bad risks fail. New ones will rise to fill any genuine need.

the first bailout was the most stupid one. Bail out the very institutions that caused the mess for everyone.
And we have seen how much improvement from that one? Ohh yeah we have not been attacked since the bailout.
Take care of the people and build from the bottom up for a more solid future.
 
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uscitizen said:
I say let the businesses that were stupid and took bad risks fail. New ones will rise to fill any genuine need.

the first bailout was the most stupid one. Bail out the very institutions that caused the mess for everyone.
And we have seen how much improvement from that one? Ohh yeah we have not been attacked since the bailout.
Take care of the people and build from the bottom up for a more solid future.
Click to expand...

God dammit, there you go being rational again.
 
KingCondanomation said:
Great thing we have the Dems in control of the senate and providing a check on Obama and Pelosi. Or wait they're from the same party, why would they bother checking the power of their own party? The stimulus and government spending already high is amazingly set to grow even more in the Democrat run senate.
Who could have predicted such a thing?

Lobbyists Raise Stimulus Price Tag
"WASHINGTON -- Lobbyists for industry and labor are gearing up to add costly proposals Tuesday to the Senate's nearly $890 billion economic stimulus plan.

Weiss Research analyst Mike Larson explains to Simon Constable how massive government spending could send mortgage rates higher so torpedoing any chance of a recovery in housing.
Florida citrus growers, California wine growers and a range of agricultural interests are pushing a tiny change that would allow farmers to more quickly depreciate new fields. High-tech and pharmaceutical companies want to save billions in taxes by including a plan that would allow them to bring overseas profits back home at lower tax rates. Labor unions are pressing Congress to make sure that new government funding for green technology results in jobs with good pay and benefits for workers.

Together, the competing lobbying efforts are likely to drive up the overall cost of the stimulus package that President Barack Obama and congressional Democrats hope to enact by the end of next week. The Senate version of the legislation, which Senate leaders hope to approve by week's end, has already swelled to $885 billion, according to a new estimate released Monday by the nonpartisan Congressional Budget Office.

A key Democratic architect of the bill, Senate Finance Chairman Max Baucus of Montana, said the measure "has been carefully crafted to produce meaningful improvements to our economy."

Republicans are stepping up criticism of the measure, saying the spending that accounts for two-thirds of the package is a waste of taxpayer dollars. They are pushing instead for greater tax cuts. "Republicans believe we must put money back into the pockets of taxpayers," said Senate Minority Leader Mitch McConnell (R., Ky.)"
http://online.wsj.com/article/SB123358404214039275.html
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Wait a minute, from what the article says the cost of the Senate proposal is higher but what is it that accounts for the difference in cost between the Senate and House versions? More spending? Well, let's ask the CBO:

The Senate amendment’s AMT provisions, which would reduce revenues by about $70 billion, account for much of the difference between the 11-year total for the House version and the corresponding total
over the same period—$884 billion—for the Inouye-Baucus substitute.
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Oh, so it's more tax cuts that in turn reduce expected revenue. OK. So I guess there's nothing to see here.

Note also that the article mentions three additional potential cost increases: (1) tax cuts for agriculture, (2) a tax holiday on repatriated overseas profits and (3) labor unions pushing to ensure decent wages for green technology money. Looks to me like only two of those would increase the cost of the bill (the first two) whereas the third would not necessarily increase costs but would only increase costs if the funding were increased.
 
a tax holiday on repatriated overseas profits ??

They took them overseas let them take their risks over there.
 
blackascoal said:
The stimulus should be twice as big with most of the focus on spending .. and banks should be nationalized. So says Nobel economist Paul Krugman, who was one of the first, and certainly the most visible noted economist to warn of exactly what has happened today.

But Obambi and his administration do not have the courage to do what is necessary.
Click to expand...
No, instead they attempt to weight it to 16 months from now, just before an election. It appears as if they are more interested in using it for political advantage than they are in fixing it.

(I say attempt because much of the proposed spending will be locked by red tape, environmental impact studies, etc.)
 
Damocles said:
No, instead they attempt to weight it to 16 months from now, just before an election. It appears as if they are more interested in using it for political advantage than they are in fixing it.

(I say attempt because much of the proposed spending will be locked by red tape, environmental impact studies, etc.)
Click to expand...


Why do you say that? According to the CBO, there is very little that can be done within the existing legal framework to her money spent sooner than they anticipate it will be spent. There are certain ways to do that, as set forth in the pdf letter to Kent Conrad attached, but they require changes int he alw that may or may not be preferable. See the link below for more information:

http://www.cbo.gov/ftpdocs/99xx/doc9975/01-29-ConradII.pdf

As it stands now, roughly 80% of the spending in anticipated to take place over the next two years.
 
Dungheap said:
Why do you say that? According to the CBO, there is very little that can be done within the existing legal framework to her money spent sooner than they anticipate it will be spent. There are certain ways to do that, as set forth in the pdf letter to Kent Conrad attached, but they require changes int he alw that may or may not be preferable. See the link below for more information:

http://www.cbo.gov/ftpdocs/99xx/doc9975/01-29-ConradII.pdf

As it stands now, roughly 80% of the spending in anticipated to take place over the next two years.
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Again. Weighted to about 16 months from now when the Congressional campaigns are just picking up. Why do I say that? Because it is almost the same thing that would have been said about Rs had they put forward a bill that weighted spending on stimulus to an election year.
 
Damocles said:
Again. Weighted to about 16 months from now when the Congressional campaigns are just picking up. Why do I say that? Because it is almost the same thing that would have been said about Rs had they put forward a bill that weighted spending on stimulus to an election year.
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Why do you say it is "weighted" that way? Read the link and get back to me. And an election occurs every two years. By the time the bill gets passed we'll be almost halfway through the 09 fiscal year, then we're in an election year again. 800 billion is a lot to spend in seven months.
 
uscitizen said:
We already pumped well over 1 trillion into the banking system in the past 7 months
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If you can't see the difference between setting a trillion bucks on fire and spending it on actually building stuff and how one would take a bit longer than the other I can't help you.
 
Damocles said:
No, instead they attempt to weight it to 16 months from now, just before an election. It appears as if they are more interested in using it for political advantage than they are in fixing it.

(I say attempt because much of the proposed spending will be locked by red tape, environmental impact studies, etc.)
Click to expand...

All of what we see transpiring before our eyes is pure politics .. thus while good Americans like Jarod wait on the pink slip, our politicians continue to play politics.

At some point Americans are going to have to awaken to the truth that neither the Democratic nor the Republican Party gives a damn about our condition and lack both the courage and intelligence to move this country forward.

As America continues to falter, the real blame does not rest on politicians but it rests on the American people themselves. We are being hoodwinked in the open with our eyes wide open, yet we fail to respond as citizens, we fail to stand up for America.
 
Dungheap said:
If you can't see the difference between setting a trillion bucks on fire and spending it on actually building stuff and how one would take a bit longer than the other I can't help you.
Click to expand...

You misunderstand.

I am for rebuilding America from the bottom up not the top down.
Will take longer but last longer too.
 
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