Democrats call for massive econ stimulus plan

[depakid]

Source: Reuters

The United States needs a new economic stimulus plan that pumps billions of dollars into infrastructure projects and budget relief for cash-strapped state and local governments, Democratic lawmakers said on Sunday. U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, told ABC television he will put together an economic stimulus bill when Congress returns to Washington after the November 4 elections, while a key Republican said he would support an effort that "makes sense."

Rep. Roy Blunt, the Missouri Republican who serves as House minority leader, said he would support a stimulus plan if it did not include massive public works spending and budget bailouts for states that overspent on health care and other social programs. "A stimulus plan that makes sense is something that I'll be helpful with," Blunt said, also on ABC television.

U.S. House Speaker Nancy Pelosi last week said a $150 billion economic stimulus plan was needed to help counteract a faltering economy shaken by a paralyzed banking system and steep stock market falls.

On Monday, Pelosi and House Democratic leaders will meet with key economists to discuss a jobs creation and recovery plan that will complement the recently passed $700 billion rescue legislation for financial institutions. Participants will include former U.S. Treasury Secretary Larry Summers, former Securities and Exchange Commission chairman Arthur Levitt and former Federal Reserve vice chairman Alice Rivlin.

Read more: http://www.reuters.com/article/politicsNews/idUSTRE49B35B20081012

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Pushing this NOW going into elections will back Republicans into a corner. If they don't get on board, and continue to act lik ideologues, they may end up lacking the votes necessary to maintain a filibuster.

[JeanGrey]

1. Where is this money coming from?

Unless we pull those troops out of Iraq, our money pot is quickly fading.

[laconicsax]

4. It's called deficit spending.

[Fearless]

5. HA! Our "tax money" was spent months ago...

We're borrowing now and have been even before this mess.

[JeanGrey]

32. Look, I love Obama and in fact, I've already voted for him.

But I think it is foolish to believe he is going to come true with all those promises of free health care and the like when the country is broke.

[Fearless]

36. It's about prioritizing as he's said...

Those things will be long term goals whereas ending dependence on foreign oil and curtailing outsourcing should be first in line with fixing the economy and balancing the damn budget.

:kick:

[JeanGrey]

37. I'll believe it when I see it.

[katusha]

2. Did anyone else catch this.

From the article,

Rep. Roy Blunt...said he would support a stimulus plan if it DID NOT include massive public works spending...

BUT, later in the same article comes this,

Former Treasury Secretary Robert Rubin, who served under President Bill Clinton, told CNN that an infrastructure plan that could quickly pump money into the economy was the most important action that U.S. authorities could take to help deal with the current economic crisis.

"I would put in place an infrastructure piece... bridges, water systems roads, highways, but not new projects that are going to take a long time to set up," Rubin said. "There are a lot of existing projects where states and cities are having a hard time finding a lot of financing where you could funnel that money right into existing activities where you would be able to act very very quickly."

--------------------------

So who you gonna believe? repub asshat who got us into this mess or one of the architects of the Clinton economy??????

[VAliberal]

3. Perhaps if Obama and the Dems

proposed a 21st Century New Deal with specifics about how to fund it, restore the social safety net, etc. that would be the finale for '08 pubs.

[bertman]

19. Great idea VAliberal. Obama has been talking about this but, so far, has been short on

specifics. The Republicans are calling for McCain to come up with a big economic recovery plan, so Obama should beat him to the punch.

[AlbertCat]

6. did not include massive public works spending and budget bailouts for states

We could use some massive public works spending, y'know. Let's do have something that makes sense.... like zero no bid contracts, and companies are only eligible if they have home offices in the USA and they can only hire American.

[Peace Patriot]

7. Read Roy Blunt's lips...

"Rep. Roy Blunt, the Missouri Republican who serves as House minority leader, said he would support a stimulus plan if it did not include massive public works spending and budget bailouts for states that overspent on health care and other social programs."

"Overspent"?! Who in this country has "overspent" on our failing public schools, especially in poor areas, and on the non-existent health care for half the population?

He wants to PUNISH the states that have tried to help the poor, despite the Bushwhacks' horrible cuts and ten trillion dollar deficit! And he wants to give money to the states that have been giving their money to the rich--in unfair taxation--rather than funding schools, health care and other bootstrapping essentials.

Reward the rich! Punish the poor some more!

God, I hope somebody's running against this asshole who can whomp him beyond anything Diebold & brethren can program!

[msongs]

8. $10 billion in Iraq - keep it home please nt

[WorseBeforeBetter]

15. I'd like a FRACTION of that to finish a stinkin' Outer Beltine...

in Raleigh, NC. Light rail is 20 years out... absurd.

[DUlover2909]

9. I wouldn't say it if I was running for president but,

if I became president I would veto a budget that didn't slash the living hell out of the Pentagon's budget. No $440,000,000 Marine 1's, no new aircraft carriers, or submarines, or stealth destroyers, or missile defense systems, or B2 bombers, or stealth fighters, or advanced aircraft, or anything that's new and expensive. In order to pay off our debt we're going to need to reduce our own defense spending and start selling our best products (weapons) to foreign governments. Out of Iraq for sure and pressure NATO countries to pitch in more for Afghanistan. And for crying out loud, stop killing civilians.

[pasto76]

11. TRUE DAT

SGT PASTO

[tblue]

13. I'd vote for you!

[harmonicon]

20. yes, "defense" spending should certainly be cut

I don't see the point in having a massive military infrastructure ostensibly to defend.... what? a crumbling shell of a once great country? I disagree with you about selling weapons though. I think a stop should be put to it, involving an international treating forbidding the export of weapons unless the two parties involved have both declared war upon a common enemy. It's time to end the international arms race that's tearing the world apart. Nuclear, Schmuclear. Far more people are killed by regular old bombs, guns, etc. all the time compared to the number of people who have been killed with nuclear weapons. Certainly having a massive push to rid the entire planet of nuclear weaponry should also be made... I feel like that should be a given, but in the current climate, I guess it has to be stated.

[DUlover2909]

23. I thought some might not like the idea of exporting weapons.

I don't like it either. Having to resort to such an evil act of capitalism is a direct consequence of Republican incompetence. Weapons are our most profitable product. If we don't sell our high-tech weapons then some other country will step in and sell lower-tech weapons to the buyer. The market will be there whether we like it or not. The problem is that our country is in a huge hole. This is a short term solution to a big problem. We have to make money somehow and our financial institutions are ruined. We have a fail-safe nuclear deterent that allows us to reduce our defense budget. Other countries do not. We have to reduce the deficit quickly or our overall well being will be threatened.

[harmonicon]

24. that's why I also said there should be a treaty

It's becoming more and more clear that hanging on to nukes and letting our buddies get them was a very bad idea, because this supposed deterrent hasn't stopped the spread of nuclear weapons around the world. In just the last 10 years or so India, Pakistan, North Korea at least have them, and we probably don't know how many other countries could easily get access.

[pasto76]

10. bridges, roads, rails public transportation

national infrastructure is crumbling. lets repair the thousands of bridges that have the same classification as the one in minnesota. lets build more light rail lines everywhere so people can leave the gas guzzlers at home. Lets build some goddamn wind turbines and erect them in short order.
These are just some ideas as an ironworker. What else can we do?
When I have a job, I spend money, my wages are taxed. When PEOPLE are working, the economy is good. How about a bailout that directly puts people to work.

SGT PASTO

[WorseBeforeBetter]

14. Amen to that.

I've lost track of the latest infrastructure rating by the American Society of Civil Engineers. D, maybe?

[Best_man23]

12. This would help get the economy going again

The US has not had a major infrastructure works program since the Interstate system was constructed in the 1950s, before that, it was the WPA projects during the Great Depression.

This nation has far too many roads and bridges that needed to be replace years ago, and it will take years to replace them. In addition, Obama has made getting the US off Middle East oil in 10 years one of his primary goals. To do this, the US will need new power stations and lines to transfer the clean solar and wind energy from the west to cities across the country, and this will take time to develop. There are many Engineering and Construction companies (small and large) that do this type of work, are based here in the US, and whose names are NOT Halliburton or KBR.

Keep in mind, there is usually very good return on investments in infrastructure, so I am for anything that contributes to the improvement of this nation's infrastructure. It will create good paying white, blue, and green collar jobs and do more to help people than mailing out "stimulization" checks.

[Zhade]

16. Um, you had that chance but passed the fucking bailout, you fools.

Incompetent.

[hay rick]

17. Guns -> butter. nt

[SnoopDog]

18. This is 'give a man a fish'...

Giving Americans a couple hundred dollars is not the answer.

What Americans need and wand are... good paying jobs....

[bkkyosemite]

21. I think getting good paying jobs from improving our infrastructure and new types of energy but

Everyone will get a bailout except the average citizen. I could use $6000. about now.

[Festivito]

22. We don't need $1,000. We need effective stability.

Quit borrowing. Balance the budget again (I realize that will take several years). Let's quit looking like the bad cousin to the world and maybe they'd work with us.

Insure our Healthcare, Retirements, Homes by loan, Jobs, and Food sources are stable. Then we can work on other insurances.

But, a measly thousand or two is a joke.

[snot]

25. Cd they pls just salvage my retirement, bef. they further eviscerate any hope for Social Security?

[Proletariatprincess]

26. The first thing FDR did when elected

was to repeal the Halstead act and legalize alcohol again. The first thing Obama should do is end the Drug War and reform the drug laws.
Bill Maher mentioned it on his show Friday.....legalize weed, Obama. I would say go further and review all drug laws including the stupid so called War on Drugs.
Imagine the money that would be saved and the revenue generated?
When is the USA going to recognize when it loses a war? ie: Viet Nam, Iraq, Afganistan,Poverty, terrorism and drugs. All lost.

[nebenaube]

27. it would certainly defund terrorism.... n/t

[AzDar]

29. Volstead Act.

:hi:

[AndyTiedye]

31. Legalization Would Help the Budget a Lot

They wouldn't be spending money trying to enforce a really unpopular law,
and they'd get TAX REVENUE from it if it were legal!

[Art_from_Ark]

35. The first thing FDR did was declare a bank holiday

The Volstead Act/18th Amendment prohibition on alcohol was repealed when Utah became the deciding state to ratify the 21st Amendment, in December 1933.

[indio55555]

28. Why?

So the American public thinks something is being done? We already pumped 900 billion dollars last week (without any votes) and the way things are going the 700 billion (the one they voted on) looks like a drop in a bucket of water.

[Chemical Bill]

30. I'd rather see a tax on the richest 1%.

You know, those people who get 50% of the income and control 90% of the wealth in this country. Then we can fund infrastructure rebuilds.

My state wouldn't need extra cash if the repug governor hadn't cut taxes on the rich (like himself). The Democratic legislature gave in to his every whim. I'm noticing a pattern here....

President Obama has the right tax plan.

Bill

[shanti]

33. green technology

we could be leaders in it.

[depakid]

34. Some seem to think so

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x173777

Now of course, there are problems with solar voltaics- as there are with every form of energy- yet managed properly, there's a lot we can do.