Let the economic stimulus games begin.
Bush has chosen an economic stimulus plan and guess what: it's a tax cut
"In order to stimulate the economy, Congress doesn't need to spend any more money; what they need to do is to cut taxes," said Bush, fleshing out the details of his $60 billion to $75 billion plan to shore up the flagging economy after last month's hijack attacks. [read more]
Bush's Jobless Aid Plan Assailed
The strongest criticism of the Bush plan was aimed at a proposal to use $11 billion from the Children's Health Insurance Program (CHIP) to expand health insurance coverage to low-income Americans, especially workers who have lost their jobs. The $11 billion could be spent to provide health insurance coverage for adults, not just children in low-income families, the original purpose of the program. [read more]
A Flawed Stimulus Plan
Responding to the demands of Republicans in Congress, President Bush has laid out a stimulus package that relies in large part on ineffective, irresponsible and regressive tax cuts. He gave short shrift to Democratic demands that the stimulus contain government spending designed to boost the economy as well. [read more]
Calling all Keynesians Saving our economic hides requires swift bold action
This reluctance to act boldly will have to change very quickly. The economy was already in contraction before September 11. It needs hundreds of billions in new federal spending--yes, deficit spending--to counteract the great shrinkage under way in consumption and business investment. No one knows the severity of what's unfolding, but false optimism will make things much worse. Acting too fast and spending too much have economic risks, but none compare to what can unfold if Washington is too timid. [read more]
But, when you cut through all the bullshit, it comes down to this:
Bush risks a partisan divide by seeking $60 billion tax cut
A Republican leadership aide was more direct, saying, "Bush decided to go with the people who brought him to the dance." [read more]
Who would of guessed?
And just who was elected President?
Why did the media delay its Florida recount study?
What if a consortium of prestigious news organizations, including the New York Times, CNN, the Washington Post and the Wall Street Journal, banded together and spent the last nine months (and $1 million) analyzing disputed ballots from last year's divisive presidential election in Florida. And then, just as the results were about to be released, terrorists attacked America and the nation responded by declaring war on terrorism. [read more]
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