Republicans v. Democrats on the economy
Yesterday I wrote that Democrats planned for an economic stimulus package designed to make the Democrats feel good about themselves rather than actually help the economy. John Kyle, Arizona Republican stands in their way, according to S.A. Miller and Jerry Seper of the Washington Times;
The Senate’s new No. 2 Republican yesterday said the Democrats’ economic-stimulus plans threaten to do more harm than good but that election-year pressure for quick action could fracture Republican opposition.
“The political necessity to be perceived as doing something will override common sense here and we will ‘do something,’ ” Senate Minority Whip Jon Kyl, Arizona Republican, told editors and reporters at The Washington Times.
In other words; RINOs will cave trying to pander for votes since the realities of the economy don’t outweigh the need to score more votes.
As for the Senate fight he foresees over efforts to spur the economy, Mr. Kyl said President Bush should steadfastly oppose measures that lead to higher taxes or that increase government spending, both chief ingredients of economic-stimulus proposals favored by the Democrat-led Congress.
Mr. Kyl’s comments came as Republican and Democratic leaders in the House, which is back in session this week, have dropped the fiery partisan rhetoric that last year stifled the Democrat-led Congress and have promised to work together on a quick fix to jump-start the nation’s sluggish economy.
The Democrat presidential candidates are way ahead in the pandering game. The Washington Post outlines their “plans” for the economy today;
Edwards plan,
announced Dec. 22:
Investment in clean energy.
– Increase safety net for the unemployed: Require Congress to set aside resources to help states cover additional workers in the event of increased unemployment.
– Increase aid to states: Additional federal contribution to Medicaid and other state aid so that a constitutional requirement to balance state budgets does not result in tax increases.
– Action on housing: Create a “Home Rescue Fund” to help families avoid foreclosure, giving people the chance to rewrite the terms of their primary mortgages in bankruptcy; pass a national law against predatory lending.
Yeah, “investment” in clean energy will really help the economy this year, won’t it? Everything Red John wants is diametrically opposed to a strong economy.
Clinton plan,
announced Jan. 11:
– $30 billion emergency housing crisis fund: Provide resources to states, cities and community organizations to prevent unnecessary foreclosures.
– Action to end the housing crisis: A 90-day moratorium on subprime foreclosures and an automatic rate freeze on subprime mortgages for at least five years or until mortgages are converted into loans families can afford.
– $25 billion in emergency assistance for heating bills: Home heating assistance grants for 37 million eligible families.
– $10 billion in extended unemployment insurance.
– Acceleration of $5 billion in energy efficiency and alternative energy investments: Tax credits to encourage purchases of hybrid and low-emissions vehicles; job training program on energy-efficient work.
More vote buying. Again with the investment in “energy efficiency”. What the Hell would that do for the economy this year, besides drive the government further into debt?
The more the Democrats promise aid for subprime defaults, the more subprime defaults there will be. Notice, again, all of Clinton’s solutions are counter to everything we know about economics. Michele Malkin had it right yesterday; the first candidate that tells these derelicts to pay their damn bills has my unconditional vote.
Obama plan,
announced Jan. 13:
– Immediate $250 tax cut for workers and their families.
– Temporary $250 bonus to low- and middle-income seniors in their Social Security checks: If there is a three-month cumulative decline in employment, an additional temporary supplement of $250 per beneficiary would be provided.
– $10 billion fund to help avoid foreclosure: Increase emergency pre-foreclosure counseling and finance work through the Federal Housing Administration, Fannie Mae and Freddie Mac to help families facing foreclosure refinance their mortgages or sell their homes.
– $10 billion to state and local governments hardest hit by the housing crisis.
– Extension of unemployment insurance.
What are Democrats going to do for the folks who provide jobs for these workers the Democrats want to hand money to?
And these are “fiscal discipline” Democrats. By next January, all of those middle class tax cuts they’ve been promising will evaporate – just like they mysteriously evaporated in 1993.
