Nancy Pelosi hopes 150 Billion Dollar Job Stimulus will Save Congressional Jobs - including her own - image opinoneditorial.com
From Bloomberg: The House narrowly passed a bill authorizing 154 billion dollars in additional debt for a job creation package yesterday. The vote, (roll call here) was 218 for, 214 against, on a Bill that is designed to extend unemployment benefits, maintain jobs in the public sector and “create” jobs through construction projects that are hoped to be ready for 2010.
Flashback to the 1977 Job Creation “Stimulus” Package that Jimmy Carter and his comrades in Congress pushed through in roughly the same fashion. Carter’s plan called for spending 30 Billion (1977), and included a scheme to create 800,000 jobs over a two year period. Yes, jobs were created, however, so was an unsustainable rate of inflation that broke the back of the middle class – it was deemed “the misery index” and included of all things, tax cuts, to those earning the least (or those who would be entitled to full refunds regardless).
30 years later, Democrats are praying that this new plan works. House Speaker, Nancy Pelosi, needs a boost as falling poll numbers indicate that she may be either demoted or retired in 2010, along with a good percentage of her “flock”. An article in Politico indicates that several of Nancy Pelosi’s troops are announcing retirements (Brian Baird (D-WA), at a time when she is convinced that if the White House and Congress can boost the economy in any way it would affect “job creation” (or saved jobs) in Congress. Nancy calls this “full campaign mode”. In other words, if the people believe that jobs are will be created, and hopefully ignore the increased debt ceiling (which will have to be paid back by – the taxpayers at some point over several generations – unless tax cuts, generous tax cuts, are put into place and there is complete halt to more government programs) and happily vote the incumbents back into office.
Nancy is taking a risk in that the public is ready to party like its 1979 – with or without a Ronald Reagan. Should this bill sustain those public sector jobs, and extend unemployment benefits, while putting a road construction plan into place, it may indeed save and create jobs, but the risk of increasing inflation as the dollar is weak at present is palpable. (Increasing the debt ceiling will only shove it further down the proverbial latrine.) While the rank and file begin to pay $10.99 for a pound of hamburger, and wonder how they will make ends meet, (inflation!), the blame is going to be planted squarely on the shoulders of those who voted “yea”. Those who did not, including 40 some odd “blue dog” democrats (those who know their jobs are on the line), are hoping that the Democrat Brand is not so tainted that they lose their seats by virtue of association.
To Recap, in order to try and save their political hides, the Democrats in Congress (and assuming the White House) put the country’s already diminished fiscal health at great risk by creating a job creation/stimulus package, ramming it through the House (which, incidentally happened exactly that way under Carter, and historically failed) – just in time to “look good” for the 2010 elections. Words fail those who cannot comprehend the lack of common sense, and lack of understanding in general of the basic of our economy, that have been displayed by this Congress, who, since 2006, has done nothing but drag our nation further downward – not for love of country or some misguided ideology, rather for self-interest.
Recommended Interesting website: Teabombs Worth a visit. The premise: individuals create accounts which allow them to vote for incumbents with less than savory records (Nancy Pelosi is currently leading the pack), they can then vote for their challengers as well. The end result, those who “win” – will be targeted – by funds given to the challenger in order to bolster their campaign. Currently, Pelosi is in first place, followed by Boxer and the infamous Barney Frank, Harry Reid, Chris Dodd, Charlie Rangel, Maxine Waters, Arlin Specter and Sheila Jackson Lee round out the top ten. The top three challengers: Liz Carter (vs. Hank Johnson, GA), John Dennis (vs. Nancy Pelosi) and Earl Sholley (vs. Barney Frank). If one thinks that this is a partisan website, think again, Republican’s who have exhibited less than stellar fiscal records can be found amongst the incumbents listed. That said this may be predictive of those in the top 10, as far as job preservation and creation are concerned.
1 comment:
All anyone is talking about is the federal debt so this genius passes a spending bill.
If you follow some of the stories, these spending bills are hedges for next year. Most of them are going to Dem states and/or districts. I think they know they are pissing of most of the country but are trying to build a fire wall among the party faithful in an attempt to keep at least a slim majority in Congress.
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