I’m proud of the House Republicans for opposing this boondoggle.
The US House of Representatives has passed President Barack Obama’s $825bn (£576bn) economic stimulus package.
Passed by 244 votes to 188, no Republicans backed the plan, saying it was too expensive and would not work.
This spending smörgåsbord is going to go down as one of the worst fiascoes in American domestic history. The Republicans have taken the first step to restoring their reputation. It will be a long journey, but every journey starts with one step.
Thank you, thank you, thank you to the House GOP caucus and the 11 Dems who also voted ‘no’ on this massive transfer of generational wealth.
So what’s our solution?
This spending smörgåsbord is going to go down as one of the worst fiascoes in American domestic history.
No doubt about it!
The Republicans have taken the first step to restoring their reputation. It will be a long journey, but every journey starts with one step.
I’ll say again.. .I think McCain could have won the election if he had come out against the bailouts originally. Instead he tried to outliberal the liberals. ah well…
For a litte historical context—Clinton’s stimulus package was “only” $16 Billion (mere pocket change compared to today).
The solution is to let the economy work itself out and not pass some piece of sh*t legislation that just increases the problem by adding to the debt and increases the size of government so that these “one-time” things don’t become part of the government.
If the government will focus on the credit issue - everything else will take care of itself - just like it has in the past.
The government shouldn’t focus on the credit issue, it should focus on helping the inevitable unemployment while allowing the needed recession to occur. The recession will punish the poorly spent money of the past and leave us with a solid foundation for growth.
This is a bill to specifically reward the poorly spent money of the past while continuing to spend money poorly; all at the expense of future living standards.
Agreed with BVBigBro - focus should be on the unemployed.
Temporarity extend the benefits to cover the recession, eliminate income tax on UE.
The rest will sort itself out.
You may be suprised Owen, but I agree with you on this. I was also against the auto bailout.
Plan on several more years of the same economic conditions.
“This thing will get out of hand and we’ll be lucky to live through it.”
I’m looking for some of the Leftys who frequent this blog to tell me how this bill stimulates the economy. Please be soecific.
!!!Fred!!!
This bill is a joke, but then again, it came from Congress. Most anything related to appropriations from Congress is a joke.
Congress is far too selfish to ever find two-thirds support for giving the President the line-item veto. Time for a Constitutional Convention? Not that it fixes everything, but at least it’s something to stand in the way of these idiot congressmen piling their pet projects onto the back of the truck.
With the democrats having the majority, the rino’s can finally act like republicans.
Now let’s see how the NE US GOP Senators vote on the senate version…..Hopefully Johny Mac will NOT reach across the aisle again…Hopefully from his presidential race he learned when you “reach across the aisle”—the Dems forgot all too quickly….
This bill stimulates the economy the same way putting armed National Guard personnel in airports after 9/11 saved the airlines—by making consumers/flyers believe that something is being done, and therefore it is safe to spend/fly. It addresses the “fear itself” component of the economic downturn, because no one has a clue how to fix the structural problems in our economy. The TARP bill was a ginormous bluff that was supposed to prevent bank runs and get banks to loan money again. Now Congress is trying the same kind of bluff on the broader consumer economy. It might work, because the average consumer is less savvy than the average banker.
Jill, you may be correct. They voted for Obama and still have a 68% approval, so they may not be very savvy.