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Senate Passes $800 Billion (and Then Some) Ways to Die Bill, A.K.A. Stimulus Legislation
All Dems and three Reps
(Arlen Specter, Susan Collins, and Olympia Snowe) voted for it. GOP
N.H. Sen. Judd Gregg, tapped for a cabinet slot, abstained.
Sez the Wash Post:
The Senate today passed an economic stimulus bill that President Obama and congressional Democrats called crucial to pull the U.S. economy out of its downward spiral but that drew scant support from Republicans....
"When the town is burning, we don't check party labels," Obama said. "Everyone needs to grab a hose!"...
Sen. Charles Schumer (D-N.Y.), speaking on behalf of the bill, said that although the nation is edging into a "recessionary spiral downward" that could become a depression, "the other side is still adamantly sticking to policies that don't work."
He said that Democrats "bent over backward" to accommodate GOP views but that they were "drawing the line at continuing the very policies" that led to the current crisis. He also pointed out that the two largest amendments to the bill were added by Republicans: a $36 billion homebuyers' tax credit promoted by Sen. Johnny Isakson (Ga.) and a $70 billion patch to the alternative minimum tax authored by Sen. Charles E. Grassley (Iowa). Yet neither senator voted for the overall bill, Schumer said.
In addition, he said, "lots of the little porky things" that Republicans objected to in the bill have been removed. These items, such as funding to spruce up the Mall, were "excuses," since their removal still did not attract GOP votes, he said.
"The sad fact...is that unless the bill is all tax cuts, mostly for the wealthy, and has almost no spending, the other side will never vote for it," Schumer said. He vowed, "We will not be diverted...We will not sacrifice the focus of this bill—jobs, tax cuts for the middle class and infrastructure—for anything."
Immediate reaction: I'm sure that Chuck Schumer had to sacrifice a lot in a bill that was trimmed by $100 billion and still ended up north of $800 billion. Some gave all. All gave some. And we'll be paying this one off from now until our 200th birthdays.
It is far from clear what the hell Schumer could possibly mean when he says we have to stop continuing the very policies that got us in such a pickle. Like what? Too much government spending? Too much government subsidy of the housing market? Too much consumer spending? Isn't this thing specificially designed to get all of that moving again? How about letting housing values actually sink down to where they might actually deserve to be? How about letting Fed rates drift up from 0 percent for a quarter or three? How about simply cutting taxes across the board, accompanied by spending cuts?
That said, Republicans, especially in the Senate, don't have any credibility on fiscal issues. They did nothing but break the bank when they actually ran the government and they did next to nothing when George W. Bush and Twitchy Paulson rolled out the bailout barrel last fall.
So why is their bipartisan failure falling onto our collective bottom line?
Because this is America, dammit, and their debt is our debt. But I still want to remember a time when a trillion dollars was a lot of money.
Kyle Jordan|2.10.09 @ 3:13PM|#
You must not question The Leaders, Comrad Gillespie. It is all too much for our lesser minds to understand.
|2.10.09 @ 3:15PM|#
"When the town is burning, we don't check party labels,"
Obama said. "Everyone needs to grab a hose!"...
We've come a long way from the Politics of Fear, haven't we?
|2.10.09 @ 3:15PM|#
http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mccaughey&sid=aLzfDxfbwhzs
|2.10.09 @ 3:17PM|#
"When the town is burning, we don't check party labels," Obama
said. "Everyone needs to grab a hose!"...
But what if the hose is spraying gasoline?
Seriously though, someone make the horrible metaphors stop,
please.
Alan Vanneman|2.10.09 @ 3:20PM|#
"Because this is America, dammit, and their debt is our debt.
But I still want to remember a time when a trillion dollars was a
lot of money."
Ah, poor Nick, poor Nick. The government's so bad it makes you want
to shoot yourself, and then they take away your pistol. Better hold
a drinking game party in backyard--while you can!
|2.10.09 @ 3:23PM|#
We've come a long way from the Politics of Fear, haven't we?
Well, it's that steady temperament he's known for. Good thing he's
not one of those hotheads calling the stimulus "generational
theft." Why, such rashness would make him unfit to be
President.
|2.10.09 @ 3:24PM|#
But what if the hose is spraying gasoline?
BPC, eh, that's metaphor's a bit odd. I prefer the "but what if
it's a chemical or electrical fire?"
|2.10.09 @ 3:25PM|#
I will not vote for anyone who voted for this bill or who signs
it or who supports it. Period.
Senator Nelson, you are dead to me.
Governor Crist, you are dead to me.
President Obama, you are dead to me.
My representative voted against the bailout and against the
"stimulus." His name is Gus Bilirakis. I will vote for him as a
reward.
Senator Martinez is leaving after this term, so I will just wave
good-bye. I think he voted for the bailout, anyway, so good on the
"stimulus" isn't enough to make me happy.
|2.10.09 @ 3:25PM|#
Joe,
You must be happy, you'll be improving "signage" rules for lots of
communities soon. I can hear that cash register ringing.
robc|2.10.09 @ 3:29PM|#
Pro Lib,
Im voting for Bunning when he runs again. Plus, he made the hall of
fame without steroids.
Orange Line Special|2.10.09 @ 3:32PM|#
Surely, all our political leaders will be quaking in their boots
at the thought of Reason Magazine saying bad things about some of
them.
Oh, wait, they aren't.
I don't think BHO is paying off Reason to be his completely
ineffective opposition, it just works out that way.
If anyone actually want to prevent the U.S. from being looted out
of trillions of dollars, help me promote
this plan. Stop whatever you're doing, and make that
happen.
|2.10.09 @ 3:33PM|#
Hey Libertoonians,
How's that whole "I'm too principled to vote for the lesser evil"
thing working out for you?
|2.10.09 @ 3:35PM|#
Looks like Schumer may be in need of a manzier.
I'm sure there is something in the bill for the male undergarment
industry to get that going.
Bingo|2.10.09 @ 3:36PM|#
I'm going to the gym today and paying some bills. Try stimulating that, hah!
|2.10.09 @ 3:39PM|#
I didn't think it was possible for me to hate Chuckles more than I already do, but these quotes (plus that picture) just pushed me over the top. Thanks, Nick!
JW Gacy|2.10.09 @ 3:40PM|#
"Everyone needs to grab a hose!"
I thought this was a very apt analogy for the unproductive,
instantly gratifying act of passing a stimulus bill. Then I
realized he meant a fire hose.
|2.10.09 @ 3:41PM|#
psssst, Jerry...Detroit isn't a state.
But yeah, I'll still join you in hearty fuck you! to Maine. Is it
too late to sell it to Canada? They could get it for cheap cheap
cheap!
|2.10.09 @ 3:43PM|#
I live in PA, and it's taking all my will-power to not call Arlen Specter's office and blast him for going along with this nonsense.
robc|2.10.09 @ 3:43PM|#
How's that whole "I'm too principled to vote for the lesser
evil" thing working out for you?
Fine.
Paul|2.10.09 @ 3:44PM|#
I was disappointed with Obama's speech on this yesterday. One,
he stumbled through it and made a couple of gaffes. Sure, not
intentional, but still had me grinding my teeth.
"Some people say this is wasteful spending, well, this is exactly
what this country needs right now".
I also found myself wincing at the George W. Bushism's. No, not
those ones, the ones where he says a lively debate is all good and
fine, but we need to get in line behind his legislation.
Debate, be lively, but in the end, vote my way.
I mean, like this one:
"When the town is burning, we don't check party labels,"
The town is burning, so you have to agree with my fix.
Pro L:
Senator Nelson, you are dead to me.
Governor Crist, you are dead to me.
President Obama, you are dead to me.
Uhh no, you're dead to them. You do understand how this works,
right?
Paul|2.10.09 @ 3:51PM|#
Better hold a drinking game party in backyard--while you
can!
Can't have
that, now can we?
|2.10.09 @ 3:52PM|#
"Everyone needs to grab a hose!"
If everyone grabs a hose, it either means that we all grab the same
hose, which will accomplish nothing, being that we'll all have our
own idea of which fire to put out and fight over the hose, or, we
all have our own hoses, which will kill the water pressure and make
everyone grabbing a hose moot. It'll probably just end up in a wet
t-shirt contest anyway.
The official presidential metaphor writer can now go out back and
off himself. That, or familiarize himself with the concept of the
bucket.
Ska|2.10.09 @ 3:55PM|#
Yeah, I'm so numb to all this stimulus and bailout talk that the
first thing I thought of was -
Nice bitch tits. The pink shirt really shows them off well.
That and Cutty Ranks singing Who Say Me Dun. 6 million
ways to die choose one...eh he...eh he.... heh heh heh.
|2.10.09 @ 3:56PM|#
Paul,
Oh, I understand all too well. But maybe this clusterfuck will wake
up some voters for once. Probably not, but maybe.
The Hosed|2.10.09 @ 3:57PM|#
""When the town is burning, we don't check party labels," Obama
said. "Everyone needs to grab a hose!"...
And be certain to swallow it all. Every sticky drop. Fearmongers
love that.
Cool Cal|2.10.09 @ 3:58PM|#
What of the "Buy American" provisions? Are they still in there ... the wire hasn't been clear as to that part.
Paul|2.10.09 @ 3:59PM|#
But maybe this clusterfuck will wake up some voters for
once. Probably not, but maybe.
George W. Bush woke some voters up. And this was the
response.
Frankly, I'm underwhelmed. I almost miss the days of Democrats
wining about gun violence. Because they can't take away my guns, it
only bothered me that they were threatening to make it illegal for
me to continue to own them. This is something I can't stop. And my
daughter's daughter is going to be paying for this thing.
|2.10.09 @ 4:05PM|#
"No, no. No, see this is a really shit idea. You know why? Because it's really obviously a shit idea."
|2.10.09 @ 4:09PM|#
Paul,
There is one good thing about the current Democratic government. It
comes right on the heels of a GOP-branded bad government. While
we're suffering the negatives of that--blaming Bush allows the
Democrats to go apeshit for a while--the positives are that people
will see how bad both parties are and may, just may, demand some
serious change. Not Obama "change" but the real thing. We have been
provoked into screaming for reform in the past, after all.
Senator Schumer|2.10.09 @ 4:11PM|#
(caption)
"Haaaaayyaaaaayyyyy! I grabbed a hose. Pick up a hose and start
spraying, fags! Spray me! Aaaahhhh.
|2.10.09 @ 4:13PM|#
But I still want to remember a time when a trillion dollars was a lot of money.
But every changed on 9/11, right?
Wait, no, there's something else now, isn't there?
|2.10.09 @ 4:14PM|#
What of the "Buy American" provisions? Are they still in there ... the wire hasn't been clear as to that part.
First off, the Senate voted against Sen. McCain's amendment to
strip the Buy American provisions. Sen. Byron Dorgan, trade
skeptic, offered a "notwithstanding the Buy American clauses,
anything not allowed by an existing trade agreement we won't do."
Hard to know how much impact that will have, since the sponsors
were insisting that the original provisions didn't violate any
actual agreements.
Secondly, the bill still has to go to conference, so that the House
and Senate versions have to be reconciled. House Transportation
Committee Chariman Jim Oberstar (D-MN) has vowed
to not support the final bill unless it has the Buy American
provisions, and promises to "bring a lot of votes" with him. Since
he's a chairman, he'll likely be on the conference committee, and
he'll make the conference bill include the provisions, which passed
the House.
The conference report then has to be adopted without amendments by
the House and Senate. It can be filibustered. Sens. Specter, Snowe,
and Collins have already threatened to vote against if the
conference report, as widely expected, ends up larger than either
individual bill by including all spending present in either.
Assuming that it does get adopted, President Obama has to sign
it.
BakedPenguin|2.10.09 @ 4:15PM|#
How's that whole "I'm too principled to vote for the lesser
evil" thing working out for you?
Golly, I sure wished I'd a voted for granpa angrypants. He'd a made
sure they'd a limited it to $700 Billion. Oh, my shame...
BakedPenguin|2.10.09 @ 4:18PM|#
caption:
Whether on the go, or fighting for crap legislation that will
bankrupt the nation, Chuck Schumer exclusively wears Manboobs
Sportsbras!
|2.10.09 @ 4:20PM|#
He'd a made sure they'd a limited it to $700 Billion. Oh, my shame...
FWIW, His was $400 billion, consisting of a corporate tax rate cut
and a temporary payroll tax cut (and no Buy American.) You know,
something similar to what Jeff Miron
proposed in Reason, and that proposed by
libertarian-leaning economists.
I might prefer nothing at all still, but the political winds are
definitely against that. Doesn't matter whether you're talking
Gallup or Rasmussen, even people who want the current bill to have
more tax cuts and less spending still want some stimulus
bill. (And they also prefer Obama's direction on the bill, go
figure.) It's sad and ridiculous watching fellow libertarians
delude themselves into thinking that the public agrees with them.
Oh, everyone's a libertarian-- except when it comes to the
particulars.
|2.10.09 @ 4:21PM|#
Sens. Specter, Snowe, and Collins have already threatened to
vote against if the conference report, as widely expected, ends up
larger than either individual bill by including all spending
present in either.
And they probably will, after voting for cloture to make sure it
gets to a floor vote that it is guaranteed to pass.
So they can say they voted against it after they voted for it. That
always fools the rubes, doesn't it?
|2.10.09 @ 4:26PM|#
And they probably will, after voting for cloture to make sure it gets to a floor vote that it is guaranteed to pass.
Most likely. It would be some fun political theater if we saw a
filibuster of the conference report and all of the three stuck to
it. Well, until Senator Franken and the moderate "Republican"
replacing Sen. Judd Gregg can get there to vote for it.
So they can say they voted against it after they voted for it. That always fools the rubes, doesn't it?
Hey, it fooled lots of otherwise educated people when it came to
voting for the estate tax elimination. They couldn't understand how
since a technical vote to lift the Byrd Rule failed that the estate
tax had to come back after ten years, and foolishly
focused on both the final vote for passage and the vote for
cloture.
|2.10.09 @ 4:31PM|#
Shoot, if I'd known McCain would've limited the "stimulus" to a
mere $400 billion, I'd have voted for him on that issue alone. Of
course, Babar (or, better yet, Paul) would've tried to hold it to
zero.
Betcha we get a new war to go with this "stimulus" before this
administration says buh-bye in 2013. But at least the trillions
going into the money hole now are Democratic trillions. Thank God,
right?
BakedPenguin|2.10.09 @ 4:31PM|#
John, close to 50% of the country was against this, even with
the new shiny president and the media pimping it 24/7. Imagine if
some political figures actually came up with a principled and
intelligent stand against this POS.
Also, if you've been following US politics for any time, you should
know that a $400 billion bill will not be $400 billion bill by the
time it gets out of committee and comes up for a vote.
Just Sayin...|2.10.09 @ 4:34PM|#
The Dow Jones Industrial Average closed down 381.99 or 4.62% at
7,888.88.
The all time high was on 10/09/07 when the Dow closed at
14,164.53.
The crude oil trading markets remain open, however, at
approximately 3:30 PM CST the price of crude oil
was trading $1.59 lower today at $37.97 per barrel.
Gilbert Martin|2.10.09 @ 4:35PM|#
"It is far from clear what the hell Schumer could possibly mean
when he says we have to stop continuing the very policies that got
us in such a pickle."
Your first mistake was to pay any attention to Shumer had to say
about this - or anything else he has ever said in his life for that
matter.
He is nothing but an overinflated gasbag whose only discernable
talent in life is being able to detect the presence of any TV
cameras in his general vicinity with something approaching the
speed of light and get in front of them.
BakedPenguin|2.10.09 @ 4:35PM|#
JT, PL - if the past eight years should have taught us anything, what Republicans say when they are out of office and what they do when they are in office are completely unrelated.
|2.10.09 @ 4:38PM|#
BP,
The suckage of the GOP in power is indisputable. As is the suckage
of the Democrats. I'll give the GOP this much--I don't think we'd
be passing this bill if they were still around. They aren't
entirely suicidal. The Democrats may just very well be.
Orange Line Special|2.10.09 @ 4:42PM|#
You principled libertarians who oppose a trillion dollar
screwing might want to wonder why Reason and none of their
commenters are picking up on the plan I linked above.
I guess letting DC screw us out of trillions of dollars is small
change compared to the horror of doing something I suggest.
You will hopefully think different.
BakedPenguin|2.10.09 @ 4:48PM|#
PL - perhaps, but I remember all too well how fast McCain ran to be bi-partisan and supported the initial bailout.
|2.10.09 @ 4:50PM|#
If the past eight years should have taught us anything, what Republicans say when they are out of office and what they do when they are in office are completely unrelated.
If the past anything has taught us anything, it's that divided
government, while it can often suck, is generally better than the
alternatives. Which was, to me, a decent reason to support McCain,
since the Democrats were obviously going to hold Congress.
John, close to 50% of the country was against this, even with the new shiny president and the media pimping it 24/7.
Non sequitur, BakedPenguin. Close to 50% of the country is
against this. But that has almost nothing to do
with how much of the country is against stimulus in general and
would prefer to do nothing, sadly. Those are two very different
things.
Imagine if some political figures actually came up with a principled and intelligent stand against this POS.
Yes. They'd lose very, very badly if they came out against all
stimulus plans. Even very libertarian economists are quite on board
with some sort of stimulus, though obviously enormously different
from this piece of crap. A temporary payroll tax cut, for
example.
|2.10.09 @ 4:56PM|#
but I remember all too well how fast McCain ran to be bi-partisan and supported the initial bailout.
Yes, but do you remember that he opposed the bi-partisan farm
bills, the bi-partisan energy bills, the bi-partisan prescription
drug benefit bill?
But instead we have someone who approves of all of those things,
plus the bailout and the new bailout.
With the initial bailout, there was at least a decent case that
enormous disaster was imminent. I don't completely buy it either,
but there certainly was a reasonable case. Countries have had
actual economic collapse due to financial panics in a way that
isn't true with other industries. That's not true with this
stimulus package; it's to try to avoid the pain of a recession, not
have the entire financial industry collapse.
|2.10.09 @ 5:01PM|#
Yeah, I'm so numb to all this stimulus and bailout talk that
the first thing I thought of was - Nice bitch tits. The pink shirt
really shows them off well.
Well, put, Ska. I'm too depressed by all this to even come up with
decent snark. Blech.
Charles|2.10.09 @ 5:17PM|#
Caption!
"Listen, Chuck, me and the boys think one Mrs. Doubtfire
impersonation a day is enough. Now don't you start doing one to
respond to me, just to piss me off. I'm serious, I'll --
dammit."
Pocket Veto|2.10.09 @ 5:19PM|#
passivated observer | February 10, 2009, 4:19pm | #
Does Obama have to sign it or can he just write
'Present'?
As long as Congress is still in session, any bill approved by both
houses gets passed into law in 10 days (exclusing Sundays)
Johnny Nowhere|2.10.09 @ 5:29PM|#
As a Mainer, I'm feeling the need to give myself the finger. Damn my Senatorettes.
ev|2.10.09 @ 6:11PM|#
"My grandchildren are so very fucked."
I am so very fucked.
I put in four years of college...major...two minors...I graduate in
May...
I am FUCKED.
If circumstances force me to live with the parents again a la
Costanza, it will be time for me to resort to a life of
crime.
I hate everything. I'm going to get drunk as fuck tonight. Drunk as
fuck.
ChrisO|2.10.09 @ 6:34PM|#
JW: But yeah, I'll still join you in hearty fuck you! to
Maine. Is it too late to sell it to Canada? They could get it for
cheap cheap cheap!
At the rate we're piling up new debt, they'll be able to buy the
entire USA in a few years for cheap cheap cheap.
Taktix®|2.10.09 @ 6:41PM|#
I, for one, am fucking sickof this "burning building"
analogy.
First of all, if we're all supposed to grab a hose, wouldn't it be
a bad idea to have unqualified firefighters manning firehoses?
Wouldn't that endanger more people.
And yes, when firefighters arrive at the fire, the assess the
situation and figure out the best way to put it out.
They don't just start grabbing anything to throw at the fire, like
the barrels of gasoline from the store across the street, which is
essetially what we're doing right now.
If I hear this dumbass analogy one more time, I'll... well, I'll
grow more spiteful of the government than I already am!
Robert|2.10.09 @ 6:42PM|#
I'm listening to that Sopranos every swear word clip as I read this. It pretty much sums up my mood.
Joe Harris|2.10.09 @ 9:21PM|#
"When the town is burning, you don't check party labels.
Everybody needs to grab a hose."
Yes, Mr. Obama, but don't you think we should check to make sure
that the stuff coming out of the hose is water (and not gas) before
we spray?
Because if the economy is the burning town, and the hose is the
stimulus bill, the hydrant is Congress. Gotta make sure that the
stuff Congress is putting into the bill isn't going to make things
worse, or lengthen the amount of time the country stays in a
recession. Any good Firefighter knows this, Mr. Obama.
|2.10.09 @ 9:56PM|#
John Thacker @ 4:20
"It's sad and ridiculous watching fellow libertarians delude
themselves into thinking that the public agrees with them. Oh,
everyone's a libertarian-- except when it comes to the
particulars."
That's a provocative statement. What do you mean by it?
Orange Line Destroyer|2.10.09 @ 10:09PM|#
I wonder why Obama main thought when he found the town burning
was to throw more gas on the fire.
I do think Schumer is cute. Too cute for Barney Frank though they
do make such a darling pair.
FoamingRon|2.10.09 @ 10:33PM|#
MadRandian | February 10, 2009, 3:33pm | #
Hey Libertoonians,
How's that whole "I'm too principled to vote for the lesser evil"
thing working out for you?
Hey Republicons, how is that, 'I'll shove any dipshit VP candidate
and all over the map old codger down your damn pie hole, and you'll
like it', working for you?'
|2.10.09 @ 11:49PM|#
They are wearing the "Ruby Slippers" but like Dorothy have no clue how to use them. The economy like a large swimming pool has been drained, all the swimmers kicked out. They want the swimmers to come back but don't want to put the water back in the pool. The pool has become a wishing well, by their own admission, they are throwing money into the pool and wishing and hoping it has some effect. Wake up, give people mortgages again, they will buy houses and clean up the inventory,values will stabilize and all those "Toxic" mortgages will actually have value. Put some water back in the damn pool!!! Show some faith in the American people.
FoamingRon|2.11.09 @ 10:42AM|#
I feel much better since they gabve me my lithium and put on my
special jacket and put me in my safe room. I have my Teddy. I have
my poster of Hussein.
So everything is okay now. The voices have stopped talking to
me.
bigsilly,|2.11.09 @ 11:20AM|#
They may have buried a poster of Hussein and a Teddy with Ron, but I'm certain Reagan isn't feeling a thing right now.
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