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Compare and Contrast

For GOP, Creating Jobs is Priority #122

While legislators profess to be concerned with creating jobs, they actually spend their time playing to their base, the right-wing conservatives in charge of the Tea Party. As proof, 64 members of the House of Representatives have signed on to H. Con Res 13, a resolution by Rep. Randy Forbes (R-VA) to affirm "In God We Trust" as the official motto of the United States and supporting and encouraging the public display of the national motto in all public buildings, public schools, and other government institutions."

House Report 112-47 includes:

A law passed by the 84th Congress (P.L. 84–851) and approved by the President on July 30, 1956, the President approved a Joint Resolution of the 84th Congress, declaring IN GOD WE TRUST the national motto of the United States. IN GOD WE TRUST was first used on paper money in 1957, when it appeared on the one-dollar silver certificate. The first paper currency bearing the motto entered circulation on October 1, 1957. The Bureau of Engraving and Printing was converting to the dry intaglio printing process. During this conversion, it gradually included IN GOD WE TRUST in the back design of all classes and denominations of currency.

So, what has happened since 1956 that requires congressional action to reaffirm the need for the motto? Nothing, except the need to convince right-wingers of their devotion to their religious beliefs. Is the House of Representatives completely ignorant of the needs of the American people in the midst of the most serious economic downturn since the Great Depression? Thank goodness, they aren't.

The dissenting views mirror those who understand our nation's priorities.

Today we face the highest budget deficit in our Nation’s history, a national unemployment rate of nearly 9%, and an ongoing mortgage foreclosure crisis. American forces are deployed in combat on several fronts, while our children who—by the very circumstances of their birth—are placed into a cradle-to-prison pipeline. We are also in the midst of reacting to a natural disaster of unimaginable proportions that recently occurred in Japan and the resulting nuclear disaster, which may have worldwide import. Yet, instead of addressing any of these critical issues, and instead of working to help American families keep a roof over their heads and food on their tables, we are debating whether or not to affirm and proliferate a motto that was adopted in 1956 and that is not imperiled in any respect.

So, if you're worried that the House of Representatives have completely lost their mind, rest assured that not all of them have -- but at least 64 of them are too busy pandering to their base to notice.

Updated: The House adopted, 396-9, a resolution (H Con Res 13) that would reaffirm the phrase "In God We Trust" as the official motto of the United States and encourage the public display of the national motto in all public buildings, public schools and other government institutions.

White House Talking Points: Reducing the Deficit and Meeting our Obligations

 One of the most important and urgent things we can do for the economy is get our fiscal house in order and reduce our nation’s deficit. 

 

• There is no doubt that a large burden on economic growth is the size of the federal debt.  Many are waiting to invest in our economy until we, as a nation, can act responsibly to deal with it and make our future more secure.

 

• The President wants the biggest deal possible to reduce the deficit and he will meet with Congressional leaders every day until it gets done. 

 

• He believes that solving our fiscal problems is an economic imperative that requires shared sacrifice.  We cannot ask the middle-class and seniors to bear all the burden of higher costs and budget cuts. 

 

• We need a balanced approach that asks the very wealthiest and special interests to pay their fair share as well, and we believe the American people agree.  We’re talking about getting rid of tax breaks for millionaires and billionaires; tax breaks for oil companies, hedge fund managers, and corporate jet owners. 

 

• The President is willing to make tough choices -- it’s time for members of both parties to do the same.  He’s willing to make tough choices when it comes to entitlement reform.  He put forth a framework to make Medicare and Medicaid stronger and more efficient without shifting the cost of care to our seniors or people with disabilities.

 

• He also supports working in a bipartisan way to strengthen Social Security for future generations. 

 

• Both parties have made real progress thus far, and to back off now will not only fail to solve our fiscal challenge, it will confirm the cynicism people have about politics in Washington. 

 

• The President believes that now is the moment to rise above that cynicism and show the American people that we can still do big things. 

 

• We can’t simply kick the can down the road – that’s how we built up this debt in the first place.

 

• We must take a balanced approach that includes shared sacrifice to force our government to live within its means and put our economy on a stronger footing for the future. 

 

• We must get this done before August 2nd to ensure that America does not default on its obligations.  If America, for the first time in its history, defaults on its obligations, it would have a catastrophic impact on our economy and the financial system.

 

• The United States must pay its bills. Defaulting on our obligations will:
  • Require the government to stop, limit, or delay payments on a broad range of legal obligations, including military salaries, Social Security and Medicare benefits, interest on the national debt, and tax refunds.

 

• We will see a spike in interest rates for mortgages, car loans and credit cards.

 

• It will also hurt folks who have been putting money away in their 401(k)s to save for retirement or into accounts for their kids’ education.

 

##

 

Employers hire more workers than expected

"Private employers hired more workers than expected in August, lifting hopes for the weak U.S. economy, but the nation’s unemployment rate rose for the first time in four months."

(Via MSNBC.com: Politics.)

While Democrats Lead, Republicans Impede

A story in today’s New York Times and column in the Washington Post discuss how Republicans are using the American Recovery and Reinvestment Act as an opportunity to further their own political agenda rather than help restore confidence in our economy:

“Even as Mr. Obama was signing the bill, Republicans were denouncing it as a waste of money. They asserted that it would not turn the economy around and that they were unified in ‘disagreement with Congressional Democrats and President Obama,’ in the words of Michael Steele, the Republican national chairman.” – New York Times, 2/18/09

“Mr. Steele said that he foresaw a ‘slight bump’ in the economy because of the enormous amount of money to be spent, but that he did not expect it to be lasting. ‘I’m telling the party leadership around the country, don’t believe the hype,’ he said. ‘There will be a slight uptick, it will flat-line, and it will continue to go down.’” – New York Times, 2/18/09

“‘After the November elections the party was beat back and defenseless. I think this allows them to stay unified and will help rebuild their financial base.’… As a matter of crass political calculation, most Republicans, especially given safe House seats, had more to gain than lose in opposing the stimulus. As one explained, if the measure works, relieved voters won't be inclined to punish Republicans; if it falters, Republicans get an ‘I told you so’ moment.” – Washington Post; Ed Rollins, GOP strategist, 2/18/09

Fact Sheet

THE WHITE HOUSE
Washington
February 17, 2009

American Recovery and Reinvestment Act:
A Progressive Plan to Create Jobs and Help Families

The American Recovery and Reinvestment Act is based on the simple premise: what is good for working families is good for the economy and what is good for the economy is good for working families. Specifically, cutting taxes for working families helps to create jobs because these families are the most likely to spend the money. And staving off a deep recession disproportionately helps working families that would have been most likely to get hurt by the recession. Here are some of the highlights of the plan:

• 129 Million Working Households will Receive a Tax Cut, about 95% of All Working Households.

• A True Working Family Tax Cut: 70% of the tax benefits in the recovery act go to the middle 60% of workers.

• Provides more than $150 billion to low-income and vulnerable households – spurring increased economic activity that will save or create more than 1 million jobs. The Congressional Budget Office finds that tax cuts and other benefits for low- and middle income households are more than three times as effective stimulus as tax cuts for high income households.

• 1/250th as much Benefit to the Top 1% as the tax cuts of George Bush: While 25% of the Bush tax cut went to those making in top 1% (currently over $475,000)— only 1/10th of 1% of our major new tax provisions did. Under the recovery act, less than 1% of the tax benefits go to the top 5% of earners, compared to nearly 40% of the benefits from the Bush tax cuts.

• Largest After-Tax Income Increases to the Bottom 40% of Workers: The bottom 40% of workers saw the largest after tax income gains—3.45%. That was 10 times higher than the percentage income gain of the top 20%.

• Provides more than $150 billion to low-income and vulnerable households – spurring increased economic activity that will save or create more than 1 million jobs. The Congressional Budget Office finds that tax cuts and other benefits for low- and middleincome households are more than three times as effective stimulus as tax cuts for highincome households.

• Ensures that a family working full-time can raise their children above the poverty line. Currently a family of four with one parent working full time at the minimum wage falls about $400 below the poverty line. Under the American Recovery and Reinvestment Act this family would get $800 from the Making Work Pay tax credit and about $1,200 in additional refundable child tax credits – lifting them above the poverty line.

In total more than 2 million Americans will be lifted above the poverty line.

[My Favorite] Quote of the Day [see previous article]

Blogging is great fun when you can manage to squeeze in a few minutes to express an idea. Often, for me at least, it's just that. Sometimes it makes sense. Sometimes, well, sometimes in retrospect, you realize it just wouldn't work.

Yesterday I wrote about the stimulus package, and that Republicans were looking forward to receiving the money and crafting the deal in conference, yet, had done nothing to move the stimulus package forward.

I was pleased to see the commentary from Paul Begala on the CNN website, If You Opposed Stimulus, Don't Take The Money.

I'd like to consider that Begala read my article, gave it consideration, agreed it was a great idea and fashioned his commentary with my ideas in mind. All I have to do is review the Sitemeter log to remind myself that no one, apparently, reads my blog but me. Still, it's nice the idea is joined by others, even someone as bright as Begala.

If Republican politicians are so deeply opposed to President Obama's economic recovery plan, they should refuse to take the money. After all, if you think all that federal spending is damaging, there are easy ways to reduce it: Don't take federal money.

Gov. Sanford can lead the way. South Carolina should decline to accept any federal funds for transportation, education, health care, clean energy or any of the other ideas President Obama is advocating to fix the economy. And the rest of the GOP can follow suit.

Justice Louis Brandeis famously called states "laboratories of democracy." So let's experiment. Gov. Sanford can be the guinea pig. His Palmetto State already gets $1.35 back from Washington for every dollar it pays in federal taxes, according to 2005 numbers, the latest calculated by the Tax Foundation, a nonprofit tax research group.

So, Mr. Begala, I'm in complete agreement. So, too, apparently do the Republicans who'd rather sit on their hands in protest than do what politicians for thousands of years have done -- roll up your sleeves and try to accomplish something on behalf of your constituents.

Rather than doing something to try to help the country from this economic mess you created over the past eight years, you instead do nothing.

Of course, you're religious, because it's required of Republican politicians so you've probably heard about reaping what you sow. If you haven't sown anything on behalf of your constituents, well, you shouldn't reap anything, either.

Now, go away empty-handed, and come back when you learn how to be a real politician, rather than a spoiled, pissy baby.

Traitorous

I'm trying to think of a word for people who, while acknowledging that their country is in the midst of economic turmoil, ignore the warnings of the leading economists and do absolutely nothing to help.  I open up the dictionary, and realize that it doesn't take long to find the word I'm looking for:

Of course, they won't like this word.  They love to use it to attack their political opponents, but insist it doesn't apply to them. 

I guess someone should give them a dictionary.

Speed of Stimulus Most Important Factor

While economists remain divided on the role of government generally, an overwhelming number from both parties are saying that a government stimulus package -- even a flawed one -- is urgently needed to help prevent a steeper slide in the economy.

Many economists say the precise size and shape of the package developing in Congress matter less than the timing, and that any delay is damaging.
Economists Agree: Speed Matters More Than Size or Shape, Washinton Post, 02/08/08

On Face The Nation Sunday morning, Senator John McCain seemed to object to passage of the stimulus passage because its not bipartisan.

What rationale is that for rallying opposition to economic recovery? Republicans refuse to vote for the bill, and then object that it's a partisan solution? If Republicans supported economic recovery -- something they failed to do during the Bush years, it seems the least they could do at this point is to try to work with the new Administration to turn the economic disaster around.

I have been in bipartisan agreements, many. This [bill] is three Republican senators. Every Republican congressman voted against it in the House, plus eleven Democrats, and all but three Republicans stayed together [in opposition] on this. That's not bipartisanship; that’s just picking off a couple of Senators."

Republicans trotted out the one or two Democrats who supported their plans in recent years and loudly trumpeted the claim that the deal was bipartisan. Now that Democrats are doing the same with the three Republican Senators who have joined Democrats in supporting the stimulus package, McCain has a different definition for bipartisan.

McCain has done nothing but remind us how right the people were to elect President Obama.

He was a poor campaigner, and he now shows us how poorly he will lead the Republicans in the Senate.

If Republicans refuse to cooperate with President Obama and Democrats in the Senate and the House, there will never be bipartisan cooperation. If Republicans think that somehow enhances their standing in the eyes of the voters, I think they've made a terrible mistake.

Republicans should rethink their position. Action is needed now. To do anything other would be a terrible mistake, and one that Republicans will live to regret.

One and Done?

President Obama won't win a second term if his efforts to reverse an economic meltdown don't work. Obama offered that assessment himself this morning, in an interview aired on NBC's "Today" show.

"If I don't have this done in three years, then there's going to be a one-term proposition."

He used the interview to say he would create a review board to oversee the government's bailout of financial institutions and he said some U.S. banks might fail before the situation improves.

"It is likely that the banks have not fully acknowledged all the losses that they're going to experience. They're going to have to write down those losses. And some banks won't make it."

Also today, the Commerce Department announced that consumer spending fell for a record sixth straight month in December as recession-battered households, worried about surging layoffs, boosted their savings rates to the highest level since May.