Posted on 02/06/2009 12:47:50 PM PST by library user
WASHINGTON -- Convinced tax cuts will not stimulate the nation’s economy, Sen. Dianne Feinstein spoke out Friday against President Barack Obama's economic recovery package.
“I’m going increasingly concerned about the bill as to whether it is really going to be a stimulus,” she told fellow Senators during a debate of the bill.
Feinstein then roiled through a litany of California’s financial woes.
“I come from a state which has more people unemployed today than the population of over a dozen states,” she said. “A state where the bread lines are growing, Where the need for assistance is growing. Where the state has a huge deficit. Where counties are unable to fund their operating maintenance. Where all capital projects have stopped and where the state now furloughs employees.”
“I think as we dither, Rome burns.”
Feinstein said her issue with the bill is the tax cuts included.
“What in my view a stimulus is, is not candidly speaking a tax package,” she said. “I do not believe in this economy tax cuts are simulative… I worry about this economy. The point of this package is to get jobs out to the people. So I reserve the right at the end of the day to vote against a package that does put those jobs out there.” . While Feinstein spoke out against the package, Senate Democratic leader Harry Reid of Nevada was trying to rally support for it.
"The world is waiting to see what we're going to do in the next 24 hours," said Reid, reflecting the Democrats' fierce urgency to wrap up the bill as conservative Republicans criticize the legislation and the economic picture grows bleaker.
A group of nearly 20 moderates from both parties -- more Democrats than Republicans -- have been negotiating in hopes of cutting as much as $100 billion from Obama's plan, which has ballooned to $937 billion on the Senate floor, with further add-ons possible during a long day of votes Friday.
Their efforts came as new government figures showed recession-battered employers eliminated 598,000 jobs in January, the most since the end of 1974. The unemployment rate rose to 7.6 percent.
Obama said he hoped Congress members would react to "the single worst month of job loss in 35 years."
"I hope they share my sense of urgency and draw the same unmistakable conclusion: The situation could not be more serious," Obama said Friday. He acknowledged the $900-billion-plus plan was not perfect and pledged to work with lawmakers to refine the measure, which he called "absolutely necessary."
"But broadly speaking, the package is the right size," Obama said.
Earlier, Reid commended the work of the centrist lawmakers and said progress has been made since Thursday night. He said a vote on the Senate bill by Friday evening was possible.
Sen. Susan Collins, R-Maine, Friday morning circulated a roster proposing $88 billion worth of net cuts from the measure. She proposed eliminating money in the bill for K-12 education while boosting funding for Pentagon operations, facilities and procurement by $13 billion.
Collins is one of just three to five Republican targets Democrats hope to attract to breach the critical 60-vote barrier, though some in the group, such a Mel Martinez, R-Fla., were said to be balking.
Collins has been working with Ben Nelson, D-Neb. Both met separately with Reid Friday morning.
Republican leader Mitch McConnell of Kentucky said the GOP is ready to support a bill, "but we will not support an aimless spending spree that masquerades as a stimulus."
He added: "Putting another $1 trillion on the nation's credit card isn't something we should do lightly. We need to get a stimulus. But more importantly, we need to get it right."
Obama pleaded with House Democrats on Thursday night to reject delaying tactics and political gamesmanship and work with the Senate to get a bill. In the campaign-like speech, the president also ridiculed Republican criticism of the legislation.
"We can't embrace the losing formula that says only tax cuts will work for every problem we face; that ignores critical challenges like our addiction to foreign oil, or the soaring cost of health care, or falling schools and crumbling bridges and roads and levees," Obama said at the retreat in Williamsburg, Va.
"I don't care whether you're driving a hybrid or an SUV -- if you're headed for a cliff, you've got to change direction," he said.
He dismissed at least one GOP complaint about the bill.
"So then you get the argument, well, 'this is not a stimulus bill, this is a spending bill.' What do you think a stimulus is? That's the whole point," he said to laughter from House Democrats.
If a compromise on trimming the bill can't be reached -- or if it won't fly with Democratic loyalists -- the alternative for Reid is to try to ram the measure through with just a few GOP supporters, such as Olympia Snowe of Maine. He expressed confidence he has the 60 votes needed to press it through if need be.
The massive measure is a key early test for Obama, who has made it the centerpiece of his fledgling presidency.
The Collins-Nelson group is hoping to bring the measure's cost down to the $800 billion range, though they were working from the $885 billion measure that came to the floor -- ignoring the more than $50 billion added over the past three days. A recalculated cost for a popular plan to award a $15,000 homebuyer tax credit pushed the overall price tag to $937 billion.
“recession-battered employers eliminated 598,000 jobs in January”
It’s just sick what the government and media are doing. It’s a self fulfilling prophecy. The talk down the economy so much that everyone out here believes them and wont hire or invest. Now the only way to turn it around is the ABSTRACT passage of a “stimulus” bill. Then they’re all of sudden start hiring and investing again. But the bill will come due and we wont be able to pay. That’s when this country will really start stinking.
LOL!!!
Toss me a marba rye!
Maroon. Idiot.
The Dims started the fire honey.
LOL!
But plunging the people into trillions of dollars of debt to finance unnecessary and unproductive pork barrel -- and sucking money out of the economy to pay for it for generations thereafter will.
How stupid to you have to be to buy this line of um . . . "reasoning"?
Tax cuts ALWAYS increase productive economic activity, put money in people's pockets, and increase federal revenues.
Obama talks about foreign oil? We have FOUR times his bosses the Saudis have in oil reserves in the lower 48 alone in shale oil, coal diesel and North Dakota oil and we can get to it at $30 a barrel. This is the ONLY thing that will recapitalize the U.S. economy.
Obama’s solution is to bankrupt the U.S., stay slaves to the Saudis, bring in Islamic and AFrican refugees by the millions, pardon more Islamic terrorist and pass the fairness doctrine.
Call call call your senators local and state offices.
I urge all California Freepers to call Mz. Feinstein and let her know what you think of her arrogant lunacy and the Socialist’s Porkulus bill. While you’re at it, mention the Senate’s attempt to take away our Freedom of Speech via a Fairness Doctrine. Liberals fear the truth and, thus, exposure of their attempt to enslave America.
202-224-3841 or
202-225-3121
“A state where the bread lines are growing, Where the need for assistance is growing. Where the state has a huge deficit. Where counties are unable to fund their operating maintenance. Where all capital projects have stopped and where the state now furloughs employees.”
And who runs Kalifornia comrade DiFi?
A RINO and democrats.
She forgot,where the state that has the most illegal immigrants
“Out of touch with the American People!”
Yeah, right! If only we still had the last Congress and brilliant resident of the White House whose clarity of vision and connection to the American people lead to handing over $700,000,000.00 to international bankers and Wall Street plutocrats two or three months back, then we’d all be financially secure and confident of a bright economic future!/s
OBAMA’S Fault.
Convinced tax cuts will not stimulate the nation’s economy, Sen. Dianne Feinstein spoke out Friday against President Barack Obama’s economic recovery package.
Not of student of history is Senator Feinstein..
If she was she would klnow that everytime tax cuts are used the economy grows.
But these socialists hate tax cuts because the people having theior own money and not getting it from the Government is against everything they stand for............
I wonder if Finey sees the correlation between tax and spend liberalism and broke states?
And the opposite correlation in those states that aren’t broke?
Probably not. Libs are too blinded by their worldview to see that their policies result in the problems they’re complaining about.
EEEHHHH! I call bull s--t!
As we dither my face falls.
GOOD!!
Yeah, there are probably breadlines outside that cafe where Plugs Biden says he meets with the little people. The one that closed 20 years ago.
“She’s calling the magic marxist Emperor Ne*ro”
LOL! ...and another tag line is born!
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