Christmas in February


It wouldn’t be Washington without the annual Pork Package from the Senate Finance Committee. Don’t worry, America, this meat must be kosher: it’s from Certified Bipartisan Porkers (c).

Christmas comes in mid-February for the Friends of Baucus:
It's a great sign of fiscal restraint that after spending a trillion dollars in debt-funded giveaways to their friends and constituencies over the last two years, lawmakers feel like they can only get away with borrowing $85 billion to pork over in this year's Baucunalia.

For those of you who aren't economists, this is how the magic works: the government takes $85 billion in loans that would have otherwise gone to businesses to create jobs. They then give it to other businesses. Those businesses use most of the money to create jobs, and kick back a few percent to the specified Political Action Committees. There's also some waste in the process, of course. But a jobs bill shouldn't destroy too many jobs, on net, and it will help Max Baucus and Charles Grassley get reelected. And that's what is really important to Americans in a recession!

Posted by Chops at February 12, 2010 11:01 AM
Comments
Comment #295502

Chops,

The 85 billion in loans does not compete with businesses. Half of that loan will come from the Chinese, Middle East, and other country’s investors. The other half will come from Americans buying treasuries as a “low risk” short term investment. The government does not borrow from the commercial banks that provide loans to businesses.

So, this statement of yours is false: “the government takes $85 billion in loans that would have otherwise gone to businesses to create jobs.”

The truly ironic thing is, the 85 billion you speak of is the amount proposed for A JOBS creation bill, that will in part be provided businesses to hire workers. Making your comment entirely contradictory.

Of course, legislators expect to get reelected when they propose legislation which will serve the needs of the American people. That is after all, why Americans vote for the candidates of their choice, to insure their own interests are served in government in return for the taxes they pay.

It is a system that propelled a small little country of rebels into becoming the greatest economy and advancement for government based on liberty in the world. Please assure me that your comments were not meant to deride such a system with such an impressive history.

Your article seems to subscribe to the new anti-America, anti-American government wing of the Republican Party. Well, it is growing by leaps and bounds, so, I shouldn’t be surprised by this article.

Posted by: David R. Remer at February 12, 2010 12:14 PM
Comment #295513

Chops-
1) The reason we’re in this Great Recession is that banks aren’t lending to small businesses. The Fed can’t lower interest rates. People are having a hard enough time making ends meet. So who is it who funds the recovery?

2) Waiting around for the economy to turn around naturally is not a fiscally smart option. One third of our deficit comes from the fact we’re in an economic hole that is dragging down revenues.

So why not spend less? Bad idea, because government spending is one of the things putting money into the system. In fact, government is one of the last remaining sources of money to pump the economy back up.

3) A strategy that has so far worked. The ARRA, or stimulus Bill has already produced signficant gains in GDP. It had a much worse economic hole to dig itself out of, before it even started doing its job, but the consensus, even among the conservative economists out there, is that it did it’s job.

4) I know the standard Republican line is to call the stimulus package pork, but for what reason? I mean, you roar pretty loudly about the outrage, but where are the details? Are you simply wanting us to take your word for the fact that it’s all waste and graft, or do you have actual proof for your claims?

I’ll tell you what’s really happening here: the Republicans in Washington are trying to develop political cover for sabotaging the Democrat’s economic recovery package so they can badmouth the Democrat’s effectiveness, and take back the seats in Congress they believe themselves entitled to.

I just wonder how that whole “country first” thing worked out.

Posted by: Stephen Daugherty at February 12, 2010 8:15 PM
Comment #295514

Oh, and while I’m at it, the Baucus Bill is dead anyways. I guess Harry Reid didn’t want to take any more flack for having to push a ****ty compromise on Democrats in Congress, what with his thrilling experience in the last year with Baucus’ previous magnum opus.

Posted by: Stephen Daugherty at February 12, 2010 8:19 PM
Comment #295542

Chops,
Reading your title I thought you was going to talk about climate change; however, I do believe once again Management has missed the poinr of a Jobs Bill.

For why I realize the Political Thinking of most Pundits is that a “Job” means Labor, yet I am amazed that Management cannot look past the point of who does the “Job” and focus on which “Job” would produce the most return(Profit) on the investment.

Because why we could easily put the 8 million citizens back to work doing meaningless tasks at $7.50 an hour until the 85 billion is spent; nevertheless, I would Think that Americas’ Democratic and Republican Civil, Political, and Religious Leaders could be more inventive than that.

Since, doesn’t it make sense to use some of the Jobs Bill to give Americas’ Enterprising Privateers the opportunity to sale the Federal Government a Renewable Power System for insulation in their Federal Buildings?

Or how about using some of the $85 Billion dollars so an American Automotive Manufacture can repidly replace the Governments’ Fleet of Fossil Fuel Burning Vehicles with the Electric Hybrids of the Future? Surely the replacement of 50 million cars and trucks over the next couple of years will help lower the Cost of Doing Government and thus produce funds to repay the loan?

And if that is not enough to put 8 million plus Americans back to work than how about attaching a Macthing Fund Clause into the Bill so the Cotporation, Their Broad, and their Stockholders can also enjoy the profits of moving forward.

Yes, I have no doubt that the Youth of the 60’s and Silver Spoons of the 70’s lack the Vision of the Citizens younger than the Children of the 70’s; nevertheless, seeing that it is not their dime that “We the People” would be spending I do hope that there are more Grown Ups on Wall Street than there does seem to be in the current Public Discord.

For what would happen to the demand of Foreign Oil if Congress and “We the People” turned a Blimd Eye to Americas’ Coal Industry and allowed the Electric Companies to build an endless supply Coal Powered Electric Generators?

Care to talk about “Jobs?”

Posted by: Henry Schlatman at February 13, 2010 8:06 AM
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