The Republican stimulus gambit

Unemployment in the United States has reached 7.6% as the economy shed nearly 600k jobs. That’s the worst job loss rate since the 70s and the worst unemployment percentage since the early 90s.

And yet, Republicans are pushing to both cut the size of Obama’s stimulus package and shift it more toward tax cuts contrary to the opinion of solid economic thought. This is not to say that the stimulus plan is perfect. Far from it. But we can’t afford to keep following the same Republican policies that got us into this mess in the first place. We need swift and bold action by the government to fill the economic shortfall.

And I think the Republican leaders know that, even if their followers still believe in the myth of tax cuts as a magical economy cure. What their leaders realize is that if this economic stimulus passes and works, Democrats will be rewarded by the electorate for decades, like they were after the New Deal. 

So rather than face possible political obscurity, Republicans are ready to push our economy over the cliff, after having spent the last eight years getting us to the edge.

***

I have CNN on in the background while I’m working, and I heard the anchor say “America is hemorrhaging jobs and the Commander-in-chief says we must act now.” 

He’s our President, not our Commander. He only commands the military in a time of war, not citizens or the Congress.

***

5 Comments

  1. Ted

    are unemployment rates from different generations (even as pure percentages) directly comparable, considering population growth?

  2. Ian

    He’s definitely not our commander, but he was elected almost solely because of this problem and to fix this problem and we should give him a shot to try. I hope this behavior just further buries the Republicans underground for a while.

  3. Sheepywoman

    I’m pissed that Congress (specifically Republicans) can’t get their collective asses in gear and get this shit done. It feels like a petty attack on the Demecrats where the Republicans feel they must wield some power since they lost big in the election. I am finally, FINALLY moved to take action, as little as it may seem. Email this D.B.:

    http://burr.senate.gov/public/index.cfm?FuseAction=PressOffice.PressReleases&ContentRecord_id=1f191d2f-c76b-ebd3-b29c-4ae3501e2928

    He is our Republican NC Senator who wants…tax cuts. What a surprise.

  4. Jordan M

    I don’t think either way will work but it’s what we get for rushing into something for political expediency. More debt won’t take away current debt.

  5. Chris

    Jordan,
    The problem isn’t simply US debt. The bigger problem is that our economy is underutilizing our current resources in terms of machines and manpower.