Obama Spending Plan Fuels Debate
Congress likely will not take substantive action in the short run on President Barack Obama’s request for $50 billion to be used on infrastructure projects.
Both the House and Senate resume session next week, but for how long remains to be seen. Members are expcted to spend most of their time between now and November campaigning for re-election.
Already, the President is receiving blowback from his speech Monday in which he announced his new plan to create jobs by funding a series of transportation measures.
Senate Minority Leader Mitch McConnell (R-Ky.) said the plan “should be met with justifiable skepticism.”
“We don’t need more government ‘stimulus’ spending,” added House Minority Leader John Boehner (R-Ohio). “We need to end Washington Democrats’ out-of-control spending spree, stop their tax hikes, and create jobs by eliminating the job-killing uncertainty that is hampering our small businesses.”
Democrats have successfully overcome a series of Republican hurdles this year to pass legislation, but given mounting voter discontent over deficit growth it is uncertain how much of an appetite they still possess to attach their names to more spending.
In a conference call with reporters on Monday, one senior White House official said the plan is not an added stimulus, but rather a long-term initiative that would also create jobs quickly, perhaps as early as 2011. However, critics point out that the aim of last year’s monumental stimulus package was also to bring down unemployment in the short-term, a goal that went unmet.
Romney Blasts Obama's Approach To Fiscal Stability
President Barack Obama’s approach to solving the nation’s financial emergency has been nothing more than “one of the biggest peacetime spending binges in American history,” according to potential Republican presidential candidate Mitt Romney.
In an Op-Ed for the New Hampshire Union Leader, the former Massachusetts governor blasted the president and the administration for failing to lead the country out of the fiscal mess it’s currently stuck in.
“The administration has massed the debt worse, hindered economic recovery and needlessly cost American workers countless jobs,” Romney wrote. “We are not on a sustainable course… The only way to avert [a fiscal crisis] is to take action that is rooted in the need to reduce spending.”
Romney has been a clear front-runner among the extensive line-up of Republican 2012 potentials, according to recent polls. In a McClatchy/Marist poll, Romney led all Republican candidates with 18 percent support from likely voters and fell by just one percentage point to Obama, raking in 45 percent support versus Obama’s 46 percent, the smallest margin by any GOP presidential hopeful.
“The Obama administration may not be serious about addressing the problems that have caused the S&P downgrade, but in less than two years the voters will reel us whether the will issue a decisive downgrade of their own,” Romney said.