I’ve been watching these debates in the Senate for three days and I’m very disappointed by the way the Stimulus Bill is turning out. As it stands now they have put 42% of the Bill as TAX CUTS…. and tax cuts don’t stimulate a thing!
Because of the 60 vote minimum needed to pass this thing in the Senate, Democrats have let Republicans re-insert the very things that caused the economy to dive into the pits over the last eight years… TAX CUTS!
This is a STIMULUS BILL! That means we have to SPEND MONEY that will go into the economy and be re-spent two or three times. It has to be money spent to make people BUY THINGS!
If we give $100.00 to a poor family in food stamps that money will be spent and re-spent by the grocery store and equal $173.00 in economic activity.
If we give a banker a $100.00 tax cut, that money will stay in an investment account and will not be re-spent and will not generate other spending on other things which will guarantee that jobs exist to provide those things… well, you see what I mean.
SPENDING increases the economy. TAX CUTS keep the economy in chains.
President Obama told the Democratic Representatives meeting in Williamsburg that STIMULUS MEANS SPENDING. We all support him, don’t we? We elected him over a competitor whose economic policies and the economic policies of his Party had dragged us into the worst situation since the 1930s. Yet we have listened to McCain steer the Republican side of the debate to TAX CUTS, TAX CUTS, TAX CUTS.
McCain and McConnell and Graham and all the other damned fool Republicans have been using their ability to prevent a 60 vote majority as a whip. Democrats better stand up to them. If not, the economy will continue to fail, more jobs will be lost, less and less will be manufactured or sold, less and less employment of workers will be necessary… it will just continue to spiral into the toilet.