High oil prices, a weakened US dollar, the subprime mortgage fiasco and other factors have pushed the nation to the edge. GW, unlike his father before him (faced with a hurting US economy), has acknowledged the fact and is going to do something about it. The White House has engaged leaders of both parties and Fed Chairman, Ben Bernake to come up with a quick response in order to avoid a recession.
President Bush has suggested a $145 billion economic stimulus package that includes a tax rebate of $800 for an individual or $1600 for a married couple. The idea is to put money into the hands of people who will spend the money quickly and spur the economy. Democrats, including Nancy Pelosi and Harry Reid, agree and are working with the the White House to iron out the details for a quick response. The Dems want to extend unemployment benefits and reach out to those who don’t pay taxes, but they have quickly embraced Bush’s ideas.
Stop for a minute. Ponder for a moment.
It took a couple of days for this to sink in for me. But now, I’m mad and joyous at the same time.
When faced with an impending economic crisis – when the economy is at a critical mass —- the Democrats are willing to embrace tax cuts and rebates!
Does anyone else see the irony here? Does anyone else smell the stench of hypocrisy? Dems are gung-ho about raising taxes and taxing the public into oblivion when times are good. But when a real crisis looms, they suddenly understand the need to put money back into the hands of taxpayers.
I’ll say it again. The Democrats led by Harry Reid and Nancy Pelosi are happily embracing a stimulus package which includes tax incentives for businesses and gives tax dollars back to the American people. They admit that this will spur the economy and potentially help stave off a recession.
What the F, people? Why does it make sense for the Dems to advocate such actions at this one moment in time? But it doesn’t make sense to them to do it ALL the time? It just betrays their hypocrisy and total lack of economic knowledge. This all goes to prove that the GOP has it right.
Bush helped in heading off a major economic catastrophe after 9/11. His tax rebate plan and his tax cuts infused more money into the economy that kept us from falling into a deep hole. The Democrats knew that then and they realize it now. But don’t look for the tax sucking, class-warfare breeding numbskulls to carry this over beyond the moment.
We will help the economy, spur growth, and avoid a major recession and then the Dems will be back to their old games – swearing up and down that tax breaks won’t do enough to help the American people.