Setting the Record Straight

February 10, 2009

Grand Old Partisanship

 

Making Petty Points
      They still don’t get it, the Republicans. With almost-daily reports of harm to the economy, dithering and delay are the mantra of Republicans in Congress debating the economic stimulus.

  sr-stockmanreaganjpeg    Some of them made speeches reminiscent of David Stockman and Ronald Reagan and trickle-down economics: Give the rich a tax break and in their generosity, they will spread the wealth to the lowest. That has not worked. It will not work, but Democrats in Congress have had to accept some portions of that argument just to get enough support to enact the stimulus legislation.

      GOP leader John Boehner said President Obama’s plan for the economy, with its enormous deficits to come, has to be paid for by the current generation’s children and grandchildren. Where was Boehner when our just-past Imbecile-In-Chief, George W. Bush, frittered away a huge surplus left to him by Bill Clinton, and rushed and lied the nation into a trillion-dollar war in Iraq? Republicans did not whimper about deficits or future generations then.

      Where was the Republican leadership when Bush’s hatred of federal oversight and regulation led to the excesses that brought the “meltdown” to Wall Street and the banks? Where were the howls about golden parachutes and billions in bonuses?

      We would not be debating a recovery, let alone one that will cost record deficits, if Bush and the Republican-controlled Congress had not led the nation down those paths.

      Lost in the shouting is a basic fact of spending: A person of modest income gets $1,000, whether in a new job or an outright grant, and spends it mostly on necessities, across a broad spectrum of labor-intensive goods, produced in ways that create jobs. A super-rich person gets $1,000, say from a tax cut, and his high-end spending goes out to a more limited spectrum of goods and labor force.

      Some of the arguments are just silly. Some critics say that giving a boost to the arts, for example, is not productive because it does not create jobs. Just taking my city as an example, spending on the arts brings tourism that is the biggest generator of jobs and prosperity.

      Just from the standpoint of practicality, tax cuts are heavy on paperwork and delay, compared with the more direct effects that come with generating new jobs, boosting aid to localities, helping the homeless and poor, or boosting working families’ purchasing power.

      The hubbub over recovery has forced a new definition of pork barrel. Some of what is “pork” in ordinary times could be recast as “recovery projects” in the deep recession. So members of both parties should be careful not to allow too much of the necessary infrastructure spending to become dismissed as “pork.” There is still inexcusable pork-barrel spending, of course. Alaska’s “bridge to nowhere” would still be “pork,” even under a shifting definition. But a meritorious public works project long postponed only because of the recession could add to the recovery by creating jobs.          –Veritas

(from www.straightrecord.com)

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