The 4% Problem
The Senate Republicans are out-gaming themselves on the stimulus bill. No wonder the Democrats are sitting on their hands right now.
The Senate has already approved Johnny Isakson’s (R-GA) tax credit plan for home purchases. That makes it more likely Johnny will vote for the bill.
The Senate GOP is also proposing the dreadful 4% mortgage. Mind you, it is a number they pulled out of thin air, despite multiple attempts to justify it.
The problem with the 4% plan is that it is a bad idea. The GOP seems intent to throw a bunch of bad ideas at the plan to look reasonable in front of the public. They do not actually expect the Democrats to embrace the 4% plan.
But what if they did?
Privately, I’m told a lot of the GOP, including some of the biggest proponents of the 4% plan, are not actually in favor of it. They just wanted to get something out there. They assure me it won’t be embraced by the Democrats, so they are safe.
That is until the Democrats embrace the 4% plan in the stimulus or in separate legislation.
Then the GOP will either have to vote for its own economically bad idea, or look more stupid than they already do.
The GOP should keep its hands off the stimulus bill. They should vote against it. Following Johnny Isakson’s lead will lead them straight to where Saxby Chambliss found himself this past year — fighting for his political life.
The GOP need not vote for the stimulus. They should make the Democrats own it.