The Myth of Government Created Wealth
Last week, the House of Representatives passed the “Pelosi Pork Package,” a massive spending bill disguised as a stimulus plan. I joined every one of my Republican colleagues and 11 of my Democrat colleagues and voted against this obscene bill, standing up for the American taxpayer and our future generations. The total cost of this spending bill is a whopping $820 billion. However, this country | Read More »
Bad policy and the politics of fear: The New New Deal
(photo from Wall Street Journal) So this is the new change ushered in by Obama’s mandate? Repeated reminders that “he won” followed by a hyper-partisan, lavish, Democratic retreat in Virginia — during a time when our economy is supposedly on the | Read More »
Who’s In Charge Here?
In the debate over the ‘stimulus,’ Barack Obama’s biggest problem is that he has not wanted to take the lead on the legislation. For weeks Congressional Democrats complained that his reluctance to set out his recommended legislation was slowing the process. When all was said and done, he never did reveal ‘his’ bill; he simply communicated his priorities to Congress and let them carry the | Read More »
An open response to Barack’s Pork-Barrel begging
I feel so much a part of the workings of my Government. The President himself wrote me to tell me he needed my help! Below find excerpts from his letter and my extemporaneous comments. Ken – The economic crisis is growing more serious every day, and the time for action has come. Last week, the House of Representatives passed the American Recovery and Reinvestment Act, | Read More »
The verdict is out on the stimulus package, and many economist are not buying it.
Skeptics to the Obama/Democrat stimulus package whether they be professional, political or otherwise, have been considered opposition forces and simply labeled as naysayers by the supporters of the bill. The truth of the matter is that there are many qualified professionals who have studied economics and the American economy for decades who came to different conclusions on the merits of the stimulus package. The debate has brought | Read More »
The NEXT Big Infrastructure Bill
Glenn Reynolds asks a good question: WHAT HAPPENED TO OUR LAST BIG “INFRASTRUCTURE” BILL? Everyone seems to have forgotten that just three years ago, in August 2005, Congress enacted the biggest federal public works program in American history, spending a massive $286.4 billion on the 2005 highway bill. At that time, President Bush and congressional leaders from both parties told us that the new highway | Read More »
Trouble in Paradise
It looks like not all Congressional Democrats are prepared to march in lockstep with Barack Obama into a brighter future: Rep. Paul Kanjorski (D-Pa.), who chairs the Financial Services subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, said on C-SPAN that Democrats have “lost our way” and “shouldn’t be pressed by silly deadlines” of getting the bill into law by the Presidents Day recess.
Democrat Chairman Pushes Cow Killing to Raise Milk Prices
Opponents of excess government meddling in the private market often argue that it puts government policymakers in an inherently unfair position: that of picking winners and losers. House Agriculture Committee Chairman Collin Peterson gives us an excellent example: he’s working to raise milk prices, leaving dairy farmers the winners while everyone who consumers dairy products winds up losing. Also winning: steak lovers, who will see | Read More »
Congressional Budget Office Slams Stimulus Plan
I referenced this yesterday in another post, but it bears repeating here: the Democratic stimulus package has already failed. That is the finding of Congress’ own budget office — the CBO — which has determined that the spending component of the bill will come far too late to help restore economic growth: Less than half the money dedicated to highways, school construction and other infrastructure | Read More »
Heath Shuler First Dem to Oppose the (De)Stimulus Bill?
It was always hard to imagine that every Democrat would march in lockstep support of a massive spending bill that stands little chance of actually doing anything to help the economy. But I would not have expected that a Blue Dog like Shuler would choose inauguration day to rain on Barack Obama’s parade: Shuler, who twice voted against the $700 billion bank rescue and the | Read More »
Obama Stimulus Consigns US to ‘Banana Republic’ Territory
The Washington Times reports: The United States will “look like a banana republic” unless it gains control over its budget deficit and federal debt, economist Allen Sinai warned Congress on Thursday. “The deficit and debt prospects under almost any scenario are daunting,” Mr. Sinai, chief global economist for Decision Economics Inc., told the Senate Budget Committee. “This territory is uncharted, with no real historical analogue | Read More »
Poll Shows Support for Stimulus, With Reservations
NBC news and the Wall Street Journal have completed a detailed poll of the American public, examining popular views on the risky spending scheme being considered in Congress. The headlines about the poll say things like ‘Public Backs Obama Stimulus Plan,’ and ‘Americans Strongly Back Obama and His Stimulus Plan,’ and they’re largely right. As the Journal summarizes: Overall, the poll found strong public backing | Read More »
Poll: Stimulus Package Better Have Tax Cuts
Rasmussen finds that the American people are generally favorable toward Barack Obama’s stimulus plan: Generally speaking, do you favor or oppose the economic recovery plan proposed by Barack Obama? 44% Favor 28% Oppose 27% Not sure
Schumer: Stimulus Package Will Be Bigger than Obama Wants
And so it begins: “It’s certainly true that we in Congress will have input,” Sen. Charles E. Schumer , D-N.Y., said in a Jan. 9 conference call. But, he added, “The urgency of this economic crisis . . . is going to limit any haggling over competing approaches.” Schumer predicted that Congress would complete its work by a self-imposed Feb. 13 deadline and would enact | Read More »
Congress — Not Obama — Will Craft His Agenda
Nancy Pelosi is advising Barack Obama that he ought to immediately make good on his campaign promise to raise taxes on the wealthy: Pelosi told reporters today that she “couldn’t be more clear” in opposing some Obama advisers’ wish to wait for the tax cuts on the highest income earners to expire in two years, as they are set to do under current law. “Put | Read More »