House Debates $825B Stimulus Package (Bill). Spending v. Reagan Tax Cuts

Real debate is what we need, not quick action that will do nothing. The C.B.O. says that only 3% of the spending and "tax cuts" in this package will stimulate the economy over the next 12 months, so the hurry is what. Why do we have to pass it immediately? Why not have real debates? I'm not sure that the democrats care if this helps the economy or not. I think all they care about is power, meaning an increase in the size of government, for after all, that is where the real power lies; our founding fathers warned us about it, but apparently we did not listen, at least the democrats didn't. I advise the republicans to just present their own stimulus package, one that will work of course, and then let the votes fall where they may. But I would not try to block the democrats, because they have been put in charge; they have the responsibility of leadership, so let them also take the blame when this "stimulus package" fails to stimulate the economy, as it surely will. jbranstetter04 Stimulus bill falls short of Obama goal: CBO report WASHINGTON, Jan. 26, 2009 (Reuters) — The Democratic stimulus package the U.S. Congress will weigh on Wednesday falls billions of dollars short of President Barack Obama's goal to pump most of the money into the economy quickly, a report released on Monday showed. The $816 billion package will pour some $525.5 billion, or 64 percent, via spending and tax cuts into the ailing economy within 19 months, according to the report issued late on Monday by the non-partisan Congressional Budget Office. Last week, Obama's budget director, Peter Orszag, told lawmakers the administration's goal was to pump at least 75 percent of the money from the stimulus package into the economy by September 30, 2010. The report expands on another from the same office Republicans had touted last week as showing that less than 40 percent of the stimulus money would filter into the economy over the 19-month period. Democrats complained report was a partial review and CBO on Monday concurred. The legislation "provides immediate stimulus to help create jobs and makes long-term, targeted, and responsible investments to keep our nation's economy growing for years to come," House of Representatives Speaker Nancy Pelosi said in a statement. Republicans seized on the report as evidence the Democrats' spending plan would take too long to help the economy. "Once again, it highlights the fact that a huge chunk of the Democrats' so-called stimulus plan comes way too late to make any real difference in fixing the economy," said Kevin Smith, a spokesman for House Minority Leader John Boehner. And, another CBO report released by Republicans showed only 49 percent of a $362.6 billion stimulus spending measure that the Senate Appropriations Committee will consider on Tuesday would be spent by the end of fiscal 2010. DEBATE STARTS ON TUESDAY http://newsdaily.com/stories/tre50q0p7-us-usa-economy-stimulus/

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YouTube | January 27, 2009

Tags:. .cbo. .concurred. .reuters. .partisan. .wednesday