Well, the Conference on the stimulus bill has begun. Conference Committees are interesting animals....leadership in both chambers appoint a limited number of members, and their job is to reconcile the differences between bills passed by each of the chambers. Sometimes they compromise, sometimes they accept in whole one or the other versions of the bill, sometimes they fail, and sometimes they come up with entirely new bills.
While both bills are stinkers, the one passed by the Senate stinks less. It has more in immediately stimulative tax incentives and less in porky spending designed to support Democratic policy initiatives. The stuff the Senate cut out in order to obtain the votes of Snowe, Collins and Specter (necessary to get them past the 60 votes needed for cloture), is VERY important to the House, and House conferees will fight hard to get it back in the final bill.
There is still hope....if House conferees stick to their guns and the final bill out of conference is even bigger than either of the two versions going in, Snowe, Collins and Specter will be tested...all have said they would look askance at a final bill that looked bigger than the one they passed. If two of the three turned against the bill, then Senate Democrats could not muster the 60 votes needed for cloture, and the bill would not come up for a vote. Then its back to the drawing board.
Wednesday, February 11, 2009
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6 comments:
JPH here... It's hard for me to discern if you are hoping for this bill to fail because you are being partisan (you want the administration to fail so the GOP can get back in power), following fiscal conservative principles (which frankly went south after Eisenhower's second term), or rather a combination of both or a more complex answer? I suspect the latter...
I am astounded at the volume of GOP voices on the hill and in the DC area whom are rising up to oppose this bill. Whereas the GOP governors appear to be in total support (well 2/3 support based on news stories I've heard). Thus, i tend to believe the Hill and DC GOP folks are more interested in retaking power than fixing the economy.
Lastly, you state "It has more in immediately simulative tax incentives and less in porky spending designed to support Democratic policy initiatives"... a tax break never built infrastructure which allows our economy to grow. The only thing that GWB's tax break accomplished without question was to increase the national debt. So, why do it again? Pork is part of our system and our founding fathers gave Congress absolute authority to raise taxes and spend as they see fit - for the betterment of all. Our liberal democracy principles have successfully implemented a progressive tax system that tax those, who benefit the most, the opportunity to pay the most. Once again few if any conservative complained when their pork projects were funded.
I do not want the administration to fail, as that would be bad for the country. I've been clear on the point in other posts.
I want the administration to succeed in getting us through this financial crisis.
I do not want THIS bill to pass. It is too heavily laden with non-stimulative spending. I'm all for roads, and bridges and infrastructure. I WANT a stimulus bill to pass, one that follows the broad outlines of the President's...tax cuts and infrastructure spending. Take away the crap thrown in that is neither of those two, and we have a deal.
I disagree with your assessment of GWB's tax break--it helped bring us out of the LAST recession, just as Reagan's tax cuts (across the board, rate reductions) helped bring us out of the 1980-2 recession. Yes--both tax cuts helped increase the national debt--but that's what you do when you try and jump start an economy--see Obama, Barack--stimulus 2009.
I sorta see pork the same way you do, and I really don't mind it, generally. I DO mind it when it is being spun as part of EMERGENCY RECOVERY legislation. Wouldn't matter to me if it were D or R pork.
Good response... I know you want the country to succeed. But i suspect the Hill some of the Hill republicans aren't so altruistic. It sucks being in the minority and they are working hard to undermine... the loyal opposition is not always loyal. Note the stimulus was passed and at a lower price tag (789B) than the Senate approved. Now that is a pleasant surprise. JPH
I was utterly amazed to return home tonight and see that the conference compromise is LESS than either of the two bills were...but now I see that much of the House spending was returned to the bill, and the "decline" came largely out of the tax cut.
A pleasant surprise that the bill came out to ONLY 789Billion...hmmm. See how desensitized we've gotten to these dollar figures being tossed around, we're grateful that it's ONLY 789 billion.
CNN announced that the final package included "tax breaks" of $400 per person, $800 per couple. Then they went on to say that this money would be sent to citizens in the form of a check (unstated: whether you paid taxes or not). This is not a tax break. A tax break is when the government reduces the amount of money they require us to send them. It is not when they drive up our collective debt so they can hand crumbs of OUR money back to us as if a Feudal Lord offering us the offal of his feast. The only glimmer of hope I saw in this was that apparently that disaster of a Speaker was outraged that Sen Reid announced that an agreement had been struck without first consulting with her. I like to think that this announcement secretly had Obama's blessing and that he is showing her that he is a force with which to be reckoned and that if she EVER attempts to force him into a corner again, she will find out what real power resides in the executive branch.
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