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Entries in stimulus bill (3)

Tuesday
Jul072009

House Majority Leader Open To Another Stimulus Bill

Despite the 9.5% unemployment rate announced by the Labor Department last week, House Majority Leader Steny Hoyer (D-Md.) is not disillusioned with the stimulus plan. In fact, he may even support a second one.

“We need to be open to whether we need additional action,” said Hoyer during a pen-and-pad session with reporters Tuesday. Hoyer went on to say however, that it is still too soon to pursue a new plan, especially since the current stimulus plan has only been in place for 150 days.

While the Majority Leader conceded that more certainly needs to be done to reduce unemployment, the statistics are not particularly menacing when compared to the amount of jobs lost during the previous administration. Under the GOP’s economic stewardship, Hoyer explained, the amount of jobs lost was much more striking, especially during the closing days of the Bush administration.
Thursday
Apr232009

Boehner Gives Obama Poor Grade For First 100 Days

By Suzia van Swol, University of New Mexico, Talk Radio News Service
Summing up President Obama’s first 100 days in office as “spending, taxing, borrowing, and ducking the hard choices,” Republican Minority Leader John Boehner (OH) said that in his eyes “the grade would not be very good.”

Boehner gave a news conference before his meeting later today President Obama and House and Senate leaders from both parties.

“The American people want us to work together, Democrats and Republicans, to deal with the issues that their confronting everyday,” he said, adding that Democrats are working strictly on their own agenda, and that “behind closed doors, they’re continuing to put their finishing touches on their budget.”

Boehner said that this Sunday marks “Debt Day,” in which the federal government revenue for this fiscal year will be gone. Boehner said that any money spent by the government after Sunday April 26th through Sep. 30th, has not been budgeted and will increase the national debt.

The money “is going to have to be borrowed from our kids and grandkids,” Boehner said.“This is the earliest debt day in history. It’s some four and a half months earlier than it was last year when it was August the 5th.”

Considering Democrats took control of both houses of Congress in the midst of the economic crisis “they clearly had a lot on their plate,” said Boehner.

“You’ll continue to see us (Republicans) try to be the party of better solutions,” said Boehner. “The stimulus bill was supposed to be about jobs, and it turned into “spending, spending, and more spending.”

After Democrats released memos last week outlining torture techniques used by the Bush administration, Boehner said “I’m hopeful that Americans will begin to understand there is a bigger story here about what happened, what was done to keep America safe.”

Boehner said that both parties were briefed on the interrogation methods, “and not a word was raised at the time.”

Although he supports the President’s plan for Iraq, Afghanistan, and Pakistan, Boehner questions the bigger picture of what the administration is doing to keep America safe.

The world “didn’t suddenly become safer in January of 2009,” Boehner said Democrats have “decided to close the detainee base down in Cuba without having any plan for what they’re going to do with those terrorists who are hell bent on killing Americans.”
Thursday
Jan292009

Global economy crisis +stimulus bill = frustrated Senate Budget Committee

Today's Senate Budget Committee meeting titled "The Global Economy: Outlook, Risks, and Policy Implications" started off with Senator Kent Conrad (D-N.D.) reading off today's headline from the Financial Times entitled, "Economic Pain to be 'worst for 60 years." Conrad said "That is a story in the Financial Times today, pretty sobering."

The meeting consisted of witnesses, Simon Johnson, professor at the Massachusetts Institute of Technology's Sloan School of Management, Brad Setser, fellow for geoeconomics with the Council on Foreign Relations and Tim Adams, managing editor of The Lindsey Group. Their testimonies included information and statistics about the housing and economic crisis in general.

Senator Lindsey Graham (R-S.C.) asked each witness if they thought the first $350 billion bailout fund was spent wisely and Adams stated that the money should have been used for what it was supposed to be for. Graham agreed and said "People are running out of trust and patience with us up here."

Several Senators felt contrary to what was stated. Senator Debbie Stabenow (D-Mich.) said that she favored the bill. "I think it's important to say that the reality is our country, our government should have acted sooner on the issues in front of us...We have to do something different...I believe we need to act as quickly as possible to begin this because everyday the numbers get worse and worse and worse."

by Christina Lovato, University of New Mexico-Talk Radio News Services