Attention

The opinions expressed by columnists are their own and do not represent our advertisers

Sunday, February 08, 2009

Speak Out Against Stimulus Bill

Turncoats!

Three turncoat Republican Senators intend to vote for the massive Spendulus bill (also known as the 'Bankrupt America Act'). Here's a general email address (info@gop.com ), the Chairman's email address (chairman@gop.com ), a contact form and a script you can paste in. Call 202.863.8500 or email now.


Dear Michael Steele and GOP officials: As contributors to the GOP at federal, state and local levels, we respectfully but forcefully request that all GOP dollars be withheld from any future campaigns involving Senators Collins, Snowe and Specter. Their disgraceful conduct in saddling our descendants with more than a trillion dollars in debt, with no discernible benefits for the vast majority of American taxpayers, is an outrage. We represent a vast network of grassroots conservatives, organized over the Internet, that intend to stop the Democrats' efforts to build up the size of government and bankrupt our country. Please respond to this request. We would like to know where the GOP stands on this disgraceful conduct that is an assault on us, our children and grandchildren. Sincerely, [Name]

Here's the story.

The three Republican senators who plan to support the measure are Olympia Snowe of Maine, Susan Collins of Maine and Arlen Specter of Pennsylvania. Collins and Specter spoke in favor of the agreement on the Senate floor Friday night.

"The American people want us to work together. They don't want to see us dividing along partisan lines on the most serious crisis confronting our country," Collins said on the floor.

Actually, dimwit, the American people don't want you to bankrupt the country with a thousand-page pork-laden bill that rips off taxpayers and saddles our descendents with massive amounts of debt.

Visit the GOP contact form now and make your voice heard!

35 comments:

chuck said...

There is no 'pork' in this bill. By definition, pork is something added to another bill that has nothing to do with it. So, there is no 'pork' in this bill.

This is a spending bill. There is a $1 Trillion deficit in consumer spending right now. That means the government needs to step up to the plate and SPEND. That's the POINT of stimulus: SPENDING. Spending creates and sustains jobs in the private sector until consumer confidence can return. Then, when you're out of the recession you pay down the debt that you incurred. That is the government's role in the economy: Spend in the bad times, and tighten your belt in the bad times.

I'm calling my Senators to express to them how important it is to pass this bill as quickly as possible. Thanks for the phone number.

chuck said...

Sorry, that should have read:

spend in the bad times, and tighten your belt in the good times.

Anonymous said...

Solving debt with debt is madness, pure madness. Wake up-Chuck...

Anonymous said...

Chuck by you saying it isnt pork sure dont make it kosher.

There are already bills in effect for spending. This bill was to create jobs that have been lost due to your Aunt Fanny mae and Uncle Freddy mac.

Is it out of fareness that democrats want to double our deficit? "we'll show them republicans what wasteful spending really is". Is this the angle ?

chuck said...

Doug,

It's not 'debt' that we need to 'solve'. It's a rapidly shrinking economy due to a loss of consumer confidence and lack of liquidity in the system. That leads to a loss of jobs and a further loss of consumer confidence and liquidity. Debt has nothing to do with this stimulus. You need to better understand the situation.

chuck said...

Anon 11:41,

You're operating under the false premise that this current mess was caused by FNMA and Freddie. It wasn't. They don't have the power or resources to cause this problem. They can't remove $1 Trillion in consumer spending in 4 months. This is a problem generated, primarily, in the Mortgage Backed Securities (MBS) market, as well as the Credit Swap market. It manifested itself in the mortgage market first because that is where the largest amount of credit is held in the United States. But, there is simply no way, when you crunch the numbers, that any one mortgage provider could effect this problem.

Additionally, if you want to talk in political terms, then you would see that George Bush and the Republican Controlled Congress should have PAID DOWN the debt during the boom years of '03-'07. But they didn't. So now we have to borrow money to stimulate the economy. That additional debt will cause problems down the road, to be sure, but it needs to incurred in order to stop the economic bleeding that will lead to a Depression if we don't stop it.

Anonymous said...

No I understand it perfect. You think this bill is going to magicaly restore the peoples confidence, its not going to happen. Is it going to put the family that lived behind me until last week back in their home, or the people across the street that lost it three weeks ago, or my relatives who have to be out after twenty years in a month, or my high school buddies brother and families home next week, no its not. We are so far past consumer confidence its shocking. Debt has everything to do with this, how the heck you think we got here. This spending bill isnt going to bring back Cambells Soup company, Dressers,Bay-Liner, or any of the other to numerous to mention companies that have been squeezed into extinction, its not going to do that. Is this bill going to magicaly remove the foreign debt that is going to be on our children and grand-childrens futures, no its not. This is all about DEBT. From your way of thinking when the boats taking on water lets add some more, sorry but I think that is self-destructive. Its not that the people have lost their confidence in spending, they have their confidence in the United States of America, is this bill going to restore that my friend, no its not. This is capitalism,(concentrated corrupt capitalism but capitalism all the same) in capitalism you let the chips fall where they fall and then you pick up the pieces and pull up your belt strap and fight on. That is the American way.

Anonymous said...

Chuck, if you are from Md,De, or VA you dont have to call your senators. They are already going to support the bankrupting of our country. That is what they do best. If the banks made bad loans, they should go bankrupt. If the car companies go broke let them , because they let the unions bankrupt them. If the states are teetering on insolvency ,so be it . If we bail out states like Ca. they will only be back in a couple of years for more money, because they are addicted to spending for things they cant afford.

Anonymous said...

But what caused the lack of liquidity chuck? Lets fix that problem. You are trying to endorse is the use a bucket to bail the water out of a boat with the back end lissing.

why not fix the boat ? Is this easier for you to understand ?

Anonymous said...

chuck you are truly an idiot with no economic sense like the entire Obama administration

how does birth control, head start spending ---I could go on and on HELP JOBS IMMEDIATELY

THEY DON't

The Republicans spent like wild dogs in the Bush administration.. and now the Democrats who love to spend are doing it

The only way to get confidence back is to trim the federal budget, cut social security for everyone and medicare.. and get spending in line with tax revenue

Spending is going to kill the USA it will just make us owe more to China--who buys our debt and can discontinue doing so at any time.. thus causing a calamity

Anonymous said...

I suppose the 300 million for contraception etc. can be defined in some other way as Chuck so eloquently points out.

Genius Chuck said that's not considered "pork" because of "definition."

Whew, thanks Chuck for clearing that up for us knuckle draggers.

Anonymous said...

Sorry Chuck. You do not understand or know the difference between a stimulous Bill and a Departmental Budget. If you did, you know majority of this so called stimulous Bill belongs in Departmental budget request when they submit their budgets. I will not be given money to spend to help the economy. The payroll tax reduction will not be enough in your check to buy a tank of gas / diesel. This bill is a reintroduction of welfare for the lazy. Ifyou are so concerned and what this bill passed then you don't care about the Politians never freezing / or shrinking their salaries or reducing their ridiculous retirement benefits that even their spouses receive just because they are married to a Politian. Youmight havereadthisbut your commenttells me youare a partisant Democrat who likes to mooch off the tax payer.

chuck said...

Doug, thank you for the intelligent response. However, yes, I do believe this will stop the bleeding long enough for the free markets to get back up to speed. If we don't stop the spiral, then the markets will simply get worse, more jobs will be lost, more consumer confidence falls, etc. etc.

No one thinks spending is the be all end all to this problem. I certainly don't. We also need to restructure the financial markets, nationalize the firms that are 'too big to fail', and sell them off in pieces back to the private investors, etc.

I just don't think we can let everything fail without suffering far more severe consequences. We did that from '29 to '33, and it took massive spending by FDR to quadruple the DOW by '37 and reduce the unemployment from a high of 25% to a more sustainable level.

12:07,

Unions didn't bankrupt the car companies. If that was the case, then Toyota wouldn't have posted a 34% loss last quarter. They are not a union shop. And, like I told Doug, letting everything fail will have horrific consequences to our economy. I don't think anyone wants 25% unemployment again.

12:13,

I hear you, and I think the boat needs to be fixed as well as temporarily patched. You can't fix it until you've stopped the leak, right?

to the rest of the responses,

I don't converse with people who insult me.

Anonymous said...

Yes i agree, the spending package or stimulus which ever you perfer did not work , that is the one while george a bush was the president.
The one that is about to be passed wont work either.
We need real jobs in this country, not service workers and retail clerks.
For instance if it is prtectioism for america steel worker and they have to take it out of the package, then who is it protectionism for?
the india steel manufactures or maybe china.
IT WILL NOT WORK.

Anonymous said...

Someone mention CHINA..BINGO! China has a 30 year program to overtake the planet and they are half way home. Home being the operative word. American Homes. To date China is right on schedule. Years of credit overextension and trade imbalances with China played right into this 30 year program. Let's keep borrowing What do we have left?

UwillTapout said...

This is way out of my wheelhouse, but In my opinion these spending/stimulus/corporate welfare bills remind me of a crackhead that once they get one fix they develop an insatiable appetite for more. If there were any lessons to learn from the first round, it's that putting the money in the hands of a few big spenders doesn't work. Put the money on main street and watch this thing turn around.

Anonymous said...

And both political parties used scare tactics against the American people in order to get their candidates elected. This IMO had a devastating effect on consumer confidence due to the fact that the media picked it up and now harp on it day after day until the average American believes that he/she must hold onto every dollar as if it were their last. This causes massive decay of the economy all by itself. The govt. and media have got to stop scaring the public. The public has must become confident in the state of our nation once again and begin to spend. Businesses, all of them, must stop trying to get top dollar for everything.

Anonymous said...

Why were the loans for housing to expensive for people to afford ? High rates for borrowing ? Greedy lenders? Low pay rages in relationship to the cost of building materials ?

I beleive every American should have the right to own their own home. With the right to privacy with in that home.Nothing the current Government is endorsing either of these issues. On the contrary they are placing people farther in debt and will pull the rug out and invade each americans personal life in every aspect.

I once thought that if I owed one entity money, that if that entity ended my debt went with it. Is it legal to sell ones debt off to another ? I know this has become common practice yet what if one dosnt agree with the "new" debtors repayment guilde lines?

Any way, for a bill of this size I feel America should have a vote to approve or not. Why are those who are suppose to Represent us given the right to rob us against our own position. If its going to be "our" debt, let "us" decide. Not some small group chosen from with in a group of elected people to represent us.

Its the size and waste that concerns me. I'll spend my money on myself and donate to causes I feel neccesary if there is any left over.

And just because the turn coats arent from my state there is something that can cause pressure on them to not ditch their party affilliation. This is what the original post is about. Paste and copy on the forms link provided and Mr. Steele will be sure to notify the turncoats of the conscequences of their actions. At least it could cost them directly for selling out the very party who feeds them.

Ive already contacted the GOP. Have You ?

Anonymous said...

They cap big Corporations for their CEO but won't do their own Cap on the own Congress salary. Hypocrites!

Anonymous said...

The duty of the goverment is to leave commerce to its own capital and credit as well as all other branches of business, protecting all in their legal pursuits, granting exclusive privileges to none.
Andrew Jackson.

Anonymous said...

Dresser would still be here if it wasn't for a few bad apples in the Union that rocked the boat too much. Their greed, and stupidity, cost a lot of people everything.

We need this stimulus package people. The argument that we are passing this on to the next generation is a moot point. Does the government take out a loan today and pay it off the next day? No, and it never has. The repayment process takes time, but the country needs this shot in the arm. Which is worse, standing by and doing nothing, or at least try to control the bleeding? Stop being bitter that McCain and Caribou Barbie didn't win. Do you really think they would be handling this better?

Anonymous said...

"Spending creates and sustains jobs in the private sector until consumer confidence can return"

Chuck have you even looked at the bill?

Spending for spending's sake is typical liberal bull.

You want to stimulate the economy??

Give us back our tax dollars and get out of the way.

What will happen to the value of the dollar when all of this paper gets printed??

You people that believe government can fix all of our problems are about to get a wake up call.

If I were you, I'd be buying gold.

Anonymous said...

Toyota did not post a 34% loss. Toyota sales were down 34%. BIG difference. Toyota is the aknowledged leader and winner in the auto industry. And yes, the unions have the blood of the soon to be extinct US auto manufacturers all over their greedy little hands. Thank You UAW president "Middlefinger".

chuck said...

for those of you arguing for 'tax cuts' as the answer, please see page 9 of the following article. And, it's from Moody's Economy.com, a non-partisan economics website.

http://www.economy.com/mark-zandi/documents/Economic_Stimulus_House_Plan_012109.pdf

It shows the 'bang for the buck' for each section of the stimulus bill, based on historical evidence and direct economic impact. Tax cuts produce the least amount of stimulus, because, as you might guess, in lean times, people will tend to SAVE that money instead of spending it. Which goes against the very nature of stimulus to begin with. Interestingly enough, the most stimulative form of spending is for food stamps. Yes, food stamps, by a 1 to 1.73 ratio.

Doug, thanks for the Jackson quote, but he lived before the Federal Reserve (and he fought against a national bank at the time, too). Either way, you're presenting an ideological argument, when I'm trying to stay grounded in economics.

1:22, The bill passed in September was a BAIL OUT. Free money to Investment banks, with no checks or balances on them. That was ridiculous bill that should have never been allowed to go forward. The bill up for vote now is a spending bill directed at stimulating the economy. Two very different bills with two very different intentions and effects.

3:05, I don't know anyone who thinks government can solve all of our problems, and no, 'spending for spending's sake' isn't what this is about. Also, when paper gets printed, inflation goes up, so debt goes down. Finally, you can buy all the gold you want, but even ownership of Ft. Knox is going to prevent a Depression without a restructured financial sector.

chuck said...

7:09, You are correct, Toyota's sales were down 34%. I still don't see how that refutes my point. Toyota is not a union shop, and, yet, their sales were down 34%. Using the "UNIONS ARE THE DEVIL!" argument of the extreme right-wing, Toyota should be BOOMING right now, right? Especially with all those pesky Union auto-makers losing so much money and no longer being competitive, right?

Anonymous said...

I think Chuck is 2/CTS.

Anonymous said...

Chuck are you a History Proffesor?

Anonymous said...

Why cant we just stop bailing or stimulating everything. This is a capitalist market. It is always going to have ups adn downs. Have we not learned that if we continually try to control these ups adn downs we will just make the next up or down bigger. Leave it alone. Quit putting us further in debt. Recession can be a good thing at time. All the companies that over spent or made bad decisions will be weeded out. They will fail. Then the strong companies who made smart decisions will begin to grow stronger. They will make it out. As for people who lose their homes, yes, I do feel bad for them. But again, they should have thought about their decisions before they made them. Do not buy something that you cannot afford. Do not get into debt you cannot affors. I am sorry for being harsh adn I am sure that I will get told off. But at least my great grand kids wont have to pay for this mess. And no...I dont think Republicans are totally at fault. How about the entire US government taking the blame.

chuck said...

Doug,

I'm not a history professor, or two sentz (but I am a contributor on his blog). Go there and check it out, sometime. I think we have a pretty good site going on.

Dogg,

The problem with doing nothing is not that the 'bad' companies will go belly up. It's that all the people who worked for those 'bad' companies will be unemployed. And it won't just be the bad companies that go belly up. Without adequate credit, EVERY company is, potentially, at risk of going out of business. Doing nothing in 1929 led to the Great Depression. For 4 years, Hoover didn't address the problem and unemployment eventually reached 25%. For some perspective, the current rate is *only* around 7% right now. 1/4 of your population without a job has devastating effects on the economy and society... and it's a self-feeding cycle that just keeps getting worse until society either breaks down, or government intervenes to stop it.

Anonymous said...

We now have a majority in this country who think like Chuck. Goodbye capitalism, hello Socialism. We're on a fast track to Communism. If you don't think so, read some Marx.

Anonymous said...

Yeah and its that 7 % that has been carrying the rest of the businesses. Its trickle up effect.

No growth, no construction, no manufacturing, no spending. And from chucks veiw....

More spending, will "hold" us over untill growth picks back up. All the while manufacturing and construction suffer. No releif from spending. Demand goes down for construction which does not help manufacturing need.

Why not use bill money to promote growth ? Either we are growing or we are going. Get it. To stand still means falling back.

Every person who has a mortgage will have paid enough money to have purchased several of what ever they have said mortgage for.

This is where the trouble is. Fix this theif and then the next step will be clearer to become able to fix. Get the foundation right and then the walls can be built simpler. As it is , we have to continuely go back down to repair the basement.

One huge cycle of waste. Why do the same thing expecting a different result ? Just wondering.

chuck said...

8:35,

You're absolutely right. The financial system needs to be completely restructured. That, however, is a long term plan. The point I'm trying to make is that, before you do major surgery, you have to get the bleeding under control.

That's what this stimulus does. It slows the bleeding long enough for us to rebuild the financial sector with more checks and balances on it. It's not a long term solution, nor do I think it was ever sold as one.

This is not an either/or situation. We can do both.

7:31,

What are your thoughts on Eisenhower, Nixon, and Reagan?

Anonymous said...

7:31,

What are your thoughts on Eisenhower, Nixon, and Reagan?

My thoughts are that they would think you are not too well informed about global economics.

chuck said...

5:57,

Well, that's interesting, considering that they all did things that I fully back. During Eisenhower's terms, the top marginal tax rate was set to 90% (And you guys were calling Obama a 'Socialist' for wanting to change it from 36% to 39%). Nixon froze all wages in the country in 1971... doesn't get any more 'Socialist' than that, does it? And Reagan spent money like a sailor on shore leave in '82 to get us out of the Recession.

So, to get back to 7:31... It seems some of the 'great' Republicans were FAR more 'Socialist' than Obama has ever appeared.

Anonymous said...

It is very evident that Doug Wilkerson can't spell! "professor". The Bd. of Educ. does offer night classes for getting your GED.