Posted on 01/19/2009 4:25:04 PM PST by NormsRevenge
Liberal Democrats in the House are lobbying hard to put President-elect Obama’s economic stimulus bill over the trillion-dollar mark.
“Some of us are saying we need a stimulus of 1.2 or 1.3 or 1.4 trillion to prevent a depression, rather than just slow our descent into a depression,” said Rep. Jerrold Nadler (D-N.Y.).
The Congressional Progressive Caucus is circulating a letter to Obama among its members, asking for a meeting with him to talk about dramatically expanding the bill. The caucus is also seeking signatures from members of the Congressional Hispanic Caucus, the Asian-Pacific Islander Caucus and the Congressional Black Caucus.
But Republicans are balking at the cost of the stimulus as it is, blasting what they see as the government spending the country out of a recession. And Democratic leaders are resisting the calls to make it bigger.
“We face a steep hill to climb after eight years of Bush economic policies that have given us a huge deficit and millions of job losses,” said a Democratic leadership aide. “So any economic recovery package must be large enough to spur immediate and long-lasting job growth and to help the economy grow again, but any plan must also take into account the reality of the fiscal crisis.”
Nadler and his fellow liberals aren’t the only Democrats who think the bill might not be big enough. House Appropriations Chairman David Obey (D-Wis.) said when he rolled out the $825 billion plan that it “may undershoot the mark” and suggested Congress may have to spend more money to stimulate the economy.
But Obey appeared to be talking about another bill at a later date. Nadler doesn’t think that will work.
“People are saying you can do it later. But if this doesn’t fix it, Republicans will say you threw all this money at it and it didn’t work,” Nadler said. “It’s all or nothing. We have to get it right the first time.” Committees are expected to revise and vote on the bill Wednesday. Obey hopes to get the bill to the floor by Jan. 28 and pass it by Feb. 13.
As it stands, the package has $550 billion in spending on items like assistance for local government, public-works projects and green energy. It also has $275 billion in tax cuts, $25 billion less than Obama had sought and a smaller part of the package than the 40 percent Obama had proposed. Still, the tax cut portion is larger than liberals would like.
Where do these people get these numbers???
They want to bankrupt this country
What they gonna do when it all runs flat?
I wonder if we could start equating ammo rounds to dollars or how soon ... if a .45 round was worth a shot of whiskey in the old west then today it would take ‘x’ amount to buy ...? And how would it vary with size as in what would one 30-06 round be worth?
Well, keep going, you socialist bastards.......you can't get blood out of a turnip, and you're goin' to the well once too often!
“Nazi Pelosi”, speacks to her minions.
“Hey guys if we can devalue the dollar even more, everyone will have to be on our payroll, and we own everything”
“Maniacal laughter fades off”
All of this leads me to recall a scene in Back to the Future II where Marty McFly, in order to fit in with the clothing styles of 2018, had to wear his pockets inside out. I always wondered what would ever lead kids to want to do that. Now I see it was likely to symbolize that their generation is completely broke due to the excessive spending of the previous 10 years by government.
I truly fear for my children’s future.
The painful lessons of history not learned, are painful.
Mark
You said “I truly fear for my children’s future.”
I don’t. My kids voted for O-boy. Let ‘em reap what they sow. By the way, they were influenced by their momma, a dumb as rocks liberal.
As for the trillion, if I can I’m getting in line to get some if I can.
Yes, the looting begins.. NO SURPRIZE~
How can conservatives object to Obama’s Trillions for Main Street when Bush’s Trillions for Wall Street went to people who got us into this mess?
That's exactly what it is - looting. When will it be time?
“Does this mean we should prepare for economics like we can see today in Zimbabwe?”
I truly doubt it. Europe is in worse shape. And there is printing and bailing in other parts of the World as well. Those financial troubles and their appropiate fixes make for an offset to the U.S. The dollar is the reserve currency still and it’s been quite strong of late. It’s up almost 2% this evening as i write. But, who knows, maybe the US Dolar is in it’s own bubble of sorts. I’ll say this....this whole blasted mess is damn confusing.
The deficit shot up in 2002 and 2003 (after 9/11 and the economic hit from that), and then was FALLING steadily, under $200 billion in 2006.
Then the Slavery Party took over, and the deficit immediately exploded to over $400 billion. And now, with their Marxist Messiah in control, he’s promising $1 trillion deficits for the foreseeable future!
Libtards always forget that spending STARTS in the House!
“What they gonna do when it all runs flat?”
Blame Bush and insist on Police state when the riots start.
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