Battle over economic plans begins
Posted on 01/06/2003 10:49:02 AM PST by MeekOneGOP
Battle over economic plans begins
01/06/2003
WASHINGTON - As House Democrats prepare to unveil their economic stimulus package, their Senate counterparts are intensifying criticism of President Bush's own plan, setting up a likely battle in Congress over how best to revive the economy.
House Democrats and their new leader, Rep. Nancy Pelosi of California, planned to announce their proposals Monday, the day before Bush was to formally unveil his plan at a speech in Chicago. The White House says Bush was assembling a blueprint to strengthen growth, create jobs and help people who are in need.
Pelosi said last week the Democrats' plan would focus on job creation and would not cost as much as Bush's proposal, which administration officials say could cost $600 billion over 10 years.
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Senate Democrats on Sunday continued to assail the president's plan as giving too much help to corporations and the wealthy, and not enough to the middle class.
Bush's plan likely will include an extension of unemployment benefits; an acceleration of tax cuts Congress approved in 2001; a cut in dividend taxes by 50 percent or more; and tax incentives to prompt more spending by businesses.
The Senate's second-ranking Democrat, Harry Reid of Nevada, said elements like the dividend tax cut largely ignore the poor and middle class. "We should do something to take care of people who work for corporations, not help the corporations necessarily," he told NBC's "Meet the Press."
Sen. John Edwards, D-N.C., a 2004 presidential hopeful, said on ABC's "This Week" that "if this is what (Bush) thinks is going to help regular people in times of an economic downturn, it just shows how out of touch he is."
Sen. Evan Bayh, D-Ind., said, however, some expected elements of the plan would win bipartisan support. He cited assistance for states to offset budget deficits and targeted tax cuts that help the middle class.
Among tax relief accelerations under consideration by Bush are expanding the child tax credit to $1,000 sooner than now called for and providing relief from the marriage penalty paid by two-earner couples more quickly than in current law.
"You may see some fine-tuning of the president's program to make it more effective, to actually get more bang for the buck," Bayh said on CNN's "Late Edition."
In Bush's defense, Sen. Don Nickles of Oklahoma, the outgoing No. 2 GOP leader, said cutting dividend taxes, helping corporations and stimulating investment could boost 401(k) retirement plans and put more money into companies that could then be used to hire more workers.
Nickles said he hoped the Senate would address the issue of extending unemployment benefits as early as Tuesday, when it returns to session.
Sen. Chuck Hagel, R-Neb., said Bush's plan was well-balanced and smartly focused on encouraging investment.
"Our productivity comes from capital investment," Hagel told CNN. "That is the smart way, the only way to grow the economy, and the long-term obligation that this government has. The president is on the right track."
Pelosi did not give details of the Democratic plan last week, but aides said it would center on three components: extending unemployment benefits and assuring that all laid-off workers are eligible for 26 weeks of federal aid; providing payroll tax relief and tax cuts for small businesses; and giving aid to states to promote infrastructure and homeland security projects.
When the House Minority lead unveils her plan, it will be the big news story of the day. Fine.
When the President of the United States unveils his plan the next day, will it be major news? And will the coverage principally be a comparison between his plan and her plan?
And the day after that? Will 50% of the coverage be his plan, 50% her plan? Or will it be 80% her plan and 20% Evil Republican plan?
Senator ExLax is making a lot of people reach for the Dramamine and Pepto Bismol.
The same DNC Clymers who advocate robbing state unemployment insurance funds for "family leave" now want to extend unemployment benefits for another 6 months. Good grief, where does it all end? People who are still unemployed after 15 months are either not looking hard enough, are doing all the wrong things to look for a job (e.g., mailing 500 resumes to HR departments , not networking to get leads, etc.) or are waiting until the "perfect" job lands in their lap. (ain't gonna happen)
An acquaintence of mine (very bright engineer) managed to milk the unemployment system for THREE YEARS, taking sporadic temporary work to keep her benefits rolling. She only got serious about finding a real job after her unemployment ran out for the last time. She found a job within 2 months. During the three years of "job searching" she was sleeping in until 10 am every day (I was leaving for work at 5:00 am every day, putting in 8-10 hour days like most professionals). She eventually degenerated to reading the daily want ads and tossing them aside. It was pathetic--and a miracle that she actually found a decent job after all of that.
Oh, my. I guess we'll get the pelosi-da$$hole one-two punch !...
They're already handling it with their usual Liberal bias to help the 'RATS. From this article:
The 'RATS and the enabling Liberal media don't understand Economics 101.Senate Democrats on Sunday continued to assail the president's plan as giving too much help to corporations and the wealthy, and not enough to the middle class.
Bush's plan likely will include an extension of unemployment benefits; an acceleration of tax cuts Congress approved in 2001; a cut in dividend taxes by 50 percent or more; and tax incentives to prompt more spending by businesses.
The Senate's second-ranking Democrat, Harry Reid of Nevada, said elements like the dividend tax cut largely ignore the poor and middle class. "We should do something to take care of people who work for corporations, not help the corporations necessarily," he told NBC's "Meet the Press."
Sen. John Edwards, D-N.C., a 2004 presidential hopeful, said on ABC's "This Week" that "if this is what (Bush) thinks is going to help regular people in times of an economic downturn, it just shows how out of touch he is."
Oh, she's MIGHTY popular in Liberal LaLa-Land San Francisco, alright, but....
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...check out the ACU ratings. Not surprising, of course!: American Conservative Union Ratings
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There is NEVER a bad time for GOOD NEWS ! Thanks !
Sheesh !
I know, it makes ya wanna go....
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