Saturday, February 14, 2009

Remember

I just read that the Senate and House quickly reconciled their respective versions of the economic stimulus package and passed it. Kudos to the three Republican Senators who voted for it, allowing it to pass in the Senate 60-38.

The House of Representatives passed it 246-183. Not one Republican representative voted for it.

So much for bipartisanship.

This week, Paul Krugman, the Nobel-laureate economist who has a column on the New York Times Op-Ed page, said that he feels that the package, as big as it is, may not be enough, and that it is too dependent on tax breaks-- tax breaks that didn't work under Bush. He also fears that Obama, after seeing the fight he had to get this watered-down package passed, may not have the stomach for another fight.

Krugman pointed out that when Japan had a similar problem, in their "lost decade," the 90's, they did something similar-- measures that weren't enough. What worked, Krugman pointed out, was drastic measures-- including the temporary nationalization of many of the nation's banks.

I'll leave the details to economists and others who are more qualified than me. But as a citizen and a voter, I will tell you this: I will not forget the assholes in the Senate and House who refused to work with our president in dealing with this situation. The Republican party is already in tatters from eight years of horrendous leadership. Let's kick it while it's down. I want the utter destruction of the self-serving, unpatriotic Republican party.

8 comments:

Bubs said...

I've been kind of worried/bothered/alarmed that the Obama administration seemed to leave the crafting of this plan up to the Congress. I'd have felt better about it if the president's people had come up with it and presented it. I just don't trust Congress to get anything right any more.

I hope it's enough, and I hope it works.

SkylersDad said...

I have a terrible feeling that the only thing the congress and senate are going to worry about in their party first, and their own asses second.

Alasdair said...

Of course, on the plus side for Japan, their not-enough measure included bridges to hook Japan up with itself and other kick-ass public works. So even though what they did might not have "worked," whatever that is supposed to mean, they still have a lot of outstanding infrastructure to show for it.

It would be nice if government types would spend recessions standing around with their dicks in their hands, but that seems to be what they know how to do, so maybe while they're not accomplishing *real* results they could at least build a decent legacy in public works.

Just a thought :)

NursePam said...

I know - your blog page - you can say whatever....but really that last paragraph - well it speaks volumes - and frankly - it does nothing for your likable factor.

LegalMist said...

NursePam -- didn't you read the description of the blog at the top left? He warned you he's "generally genial, but sometimes cranky." He never promised "likable."

He still makes some good points, often is amusing as well as informative, and has great taste in music.

I don't agree with everything posted here every time, but I always appreciate the thought and honest expression. Keep up the good work, JY.

dmarks said...

Krugman hates tax-cuts overall. I read a column by him in which he wanted the middle class to be taxed a lot more, and criticized Obama for wanting tax relief for lower-income people. I sure do not agree with that.

I just wish this stimulus package were not so loaded with waste and poison pills, such as the part for free government healthcare for quite-well-off adults.

Distributorcap said...

the republicans showed their true colors this week -- it is all about regaining power and doing whatever they can to thwart obama - there is NO room for working together in that party

remember how they labeled dems "unpatriotic" when they didnt support bush

i am with you JY - kick em while they are down - they are garbage - and completely unpatriotic and self-serving. may they all rot

bubbles said...

JY
I agree. I was sickened by the whole thing.

Obama's leadership is right on - but for some reason those a-holes don't get it.