Mitch McConnell Insists On Giving Democrats the Win & Obama the Purse Strings With His Debt Contingency Plan
Posted by Jim Hoft on Saturday, July 16, 2011, 12:29 PM
Although the Republicans in the House continue to stand strong against the destructive job-killing Obama regime, Republican Minority Leader Mitch McConnell is still working to ensure that Democrats come out big winners and that Obama will control the purse strings with his contingency debt plan.
This really can’t be happening, right?
The Hill reported:
A fall-back plan to avert a national default is under negotiation by Senate leaders and is on track to be unveiled by Wednesday or Thursday of next week, according to a Senate Democratic aide.
Senate leaders estimate they will have to have the contingency plan ready to go by Thursday to have enough time to get it passed through both chambers by Aug. 2.
A Democratic aide said it would likely take nearly two weeks to pass it because of expected filibusters.
Sen. Jim DeMint (R-S.C.), a member of the Senate Tea Party Caucus, pledged on Friday to use “every tool” available to block the “plan B” proposal that Senate Republican Leader Mitch McConnell (Ky.) introduced on Tuesday.
McConnell is negotiating with Senate Majority Leader Harry Reid (D-Nev.) to modify the plan to make it more likely to pass the Senate.
The proposal McConnell introduced would authorize President Obama to raise the debt limit by $2.5 trillion in three requests.
Under the plan, Obama would have to make three requests to Congress which lawmakers could block only through a resolution of disapproval. It gives Obama nearly unilateral authority to raise the debt limit because it would require only 34 votes in the Senate or 146 votes in the House to sustain a veto of a disapproval resolution.
Reid is talking with McConnell about adding $1 trillion to $1.5 trillion in spending cuts to the authorizing legislation.
“It would include mostly low-hanging fruit,” said a Democratic aide, in reference to potential spending cuts which have already been discussed by Vice President Joe Biden and congressional leaders.
The leaders are also talking about adding a provision that would set up a special bipartisan committee in Congress that would recommend additional savings that could be brought straight to the floor for an up or down vote. The committee would be modeled on the Defense Base Closure and Realignment Commission (BRAC).
Does anyone see how this plan helps Republicans?… Or the House Republicans?… Or the country? Someone needs to explain how giving Obama unprecedented control of government spending is a good thing?
Anybody?
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Published May 21, 2012 at 12:19 am - 55 Comments
tommy mc donnell commented:
never mind whether this plan helps republicans, does anybody see how this helps the american people. everybody get on the phones.
bg commented:
++
been sayin’ that for months, but heh, what do i know.. /s/
==
FurryGuyJeans commented:
McConnell is as bad as McLame, another elite politician doing the bidding of the Progs while crapping on anyone with the stones to stand up for the American people.
If Barry doesn’t get the fingers on the purse strings despite the efforts of RINOs like McConnell, he will just further marginalize Congress and rule by EO fiat. Barry is Chancellor Palpatine.
Uncle Monkey commented:
Does anyone see how this plan helps Republicans?… Or the House Republicans?… Or the country? Someone needs to explain how giving Obama unprecedented control of government spending is a good thing?
Anybody?
Yeah, wow. How ’bout those Phillies, huh?
bg commented:
++
freedom 101
==
Stuart commented:
…. And in other news Charlie Brown is going to have one more go at kicking Lucy’s football.
obfuscatenot commented:
Lindsay you jackass, oops, I mean Mitch you jackass! Giving this dictator in chief more power is a good thing? For goodness sakes, this man is trying to help our nation commit suicide.
Bowser commented:
McConell is another out of touch elite old bag! He needs to retire now!! This does not help the Country it will turn it into Old Europe.
tarpon commented:
At what age is a RINO no longer functional?
FurryGuyJeans commented:
The political calculus, local and national, all too focuses solely on what benefits “the party”. And American voters let it happen by voting for a mess of pottage in exchange for their birth-right of freedom and liberty.
Joe College commented:
I don’t agree with McConnell on this tactic. The public has had enough time to look at this situation and I think public opinion is sufficiently split that Obama will gain little by cutting off social security checks.
I felt good to hear McConnell speak the truth the other day when he said there will be no agreement on the debt as long as Obama is in office. Someone had to get that out there because it is the truth.
As I noted yesterday, the big money boys on Wall Street are not taking the markets precipitously lower as you would expect if a fiscal crisis is at hand. If they’re not especially worried, and we know Obama will not budge anyway, then there is no point in laying down before this guy.
This looks like an opportune time to stand on principle.
Joe College commented:
tarpon. Some bad news…
Depending on the species, rhinoceros live between 30 and 50 years.
http://wiki.answers.com/Q/How_long_does_rhinoceros_live
Carbon Pootprint commented:
We need to bring our military home. The biggest threat to this country is the Traitors in DC and NY
bg commented:
++
just a reminder..
==
Olga Centura commented:
Another fossil living in the past of what used to be our representative government (renamed ‘the District of Criminals’). McConnell is another idiot from the old GOP who thinks he’s dealing with real people, not a bunch of thugs who would force grope the vagina of a 94 year white woman at (name any airport) — McConnell would rather hide under a rock than deal with the reality right in front of him. Giving the Thug in the White House the keys to the Kingdom is akin to letting the inmates run the prison. There’s something wrong with people like this who think they can outsmart a criminal by giving him the keys to your house.
Sandy commented:
So McConnell wants to give a man who’s addicted to other people’s money 2 trillion more. Where’s the good news?
red131 commented:
If McConnell wants to abdicate his constitutional responsibilites to the WH then he needs to resign NOW.
FurryGuyJeans commented:
Give Barry unfettered access to the nation’s purse strings as McConnell proposes and it won’t stop at a mere $2T. Barry spending $20T or $200T would be just a start.
Joe College commented:
This is a good time tor remember who Obama really represents:
January 20, 2009, 9:41 AM ET
Obama Inauguration Sets Record for Private Jets
http://blogs.wsj.com/wealth/2009/01/20/obama-inauguration-sets-record-for-private-jets/
“…as many as 600 private jets were expected to touch down in D.C. for the inauguration. The runway at Washington Dulles was closed Saturday to allow as many as 100 small planes to park. And the Metropolitan Washington Airports Authority said it expected a total of 500 small jets to land from Jan. 16 through Jan 21.
“That would set a record, topping the 300 the airport accommodated for President George W. Bush’s 2004 inaugural,” an Airports Authority says in the article.”
FurryGuyJeans commented:
Most, if not all, Congressional members would have to resign as well. There is nary a single Senator or House Representative that living up to the oath they swore to protect and defend the Constitution. Party and Ideology trump doing the People’s business.
Conservative Ken commented:
RINO”S like McConnell are what make being a Conservative Voter doubly hard. All too often, in an election we are given the choice of voting for Liberal or Cave in Republicans. We Conservative Voters are in reality fighting a two front war. The second one being with the people we voted in.
SeniorD commented:
When Webster’s needs a new definition for rhino, a picture of this RINO is more than enough. The good people of Kentucky must really love him to let him take Robert Byrd’s place as the Senate’s Doddering Old Fool.
When does his term expire?
LIBBY McLIBTARD commented:
How fitting, I e-mail Bitch McDouchebag this morning. I wasn’t vulgar, but I sure wasn’t nice either. I told him he was 2 balls short of a pair, and that it was time for him to retire to his next career in Lobbying.
Bob Zimmerman commented:
Get on the phone or email Mitch and your own congressmen too. Here is the contact for Mitch.
http://mcconnell.senate.gov/public/index.cfm?p=ContactForm
aprilnovember811 commented:
This is who Mitch McConnell is giving the money to.
USA: HIZB UT-TAHRIR LEADER CALLS FOR MUSLIM ARMIES TO UNITE, “SHEIKH OBAMA” “ISLAM WILL BE MADE SUPREME IN THE LAND” “ONE UNITED STATE”
“Islam will be made supreme in the land. Islam will be the ruling system in the land.” “Under the Khalifah we will be unified. One state.” “One united state.”
“The military be in the hands of the Muslims.” “Al Aqsa will be taken back from the crusaders.” Crowd chants wildly, “Takbir, allahu akbar! takbir!” (minute 8:44, video posted July 7, 2011, USA conference)
Hizb ut-Tahrir is an Islamic terrorist organization. Founded in 1953, Hizb ut-Tahrir (Party of Liberation) is an international pan-Islamic political organisation whose goal is for all Muslim countries to unify as an Islamic state or caliphate ruled by Islamic law and with a caliph head of state elected by Muslims.
http://atlasshrugs2000.typepad.com/atlas_shrugs/
bg commented:
++
“repeal” & “next election” are just as much Rep code
words as “racist” &”tax the rich” are to the Dems..
the head honchos of both parties are & have been in bed with one
another for quite some time now, and Obama has the video (so to
speak).. /s/
Welcome to the NWO under the auspices of the UN in the year 2525..
==
StrangernFiction commented:
When does his term expire?
2014
Bobbi commented:
Look. All if you do a google o this “is McConnell’s plan a trap?”. You will see that the WSJ, the
Huff post and numerous Dems understand that it is. You see, Obama will have some form of power,but the Republicans will not vote for any tax increases. Basically, the Dems and Obama will ” own” the issue and Obama will not be able to blame the Repubs.
It’s not a carte Blanche. It has some subtleties that will ensnare Obama. However, it’s a trap for this arrogant prick and ruin his chance for 2012.
Ipso Facto commented:
McConnell is a pathetic spineless wimp!
The GOP keeps complaining that they don’t have the Whitehouse or the Senate. How is it that they continually fail to realize that they have the power in the House to completely STOP anything they don’t like.
They can freeze any thing they don’t like and frustrate the Democrats to high heaven – but no…that would take conviction, principle and backbone.
Soon the Tea party will totally take over the GOP. And it is indeed the Grand OLD party.
John03 commented:
Is there any way the Republicans could replace him as minority leader at this point? I vote for Jim Demint.
bg commented:
++
OT..
11 11 11
==
Eddie Willers commented:
McConnell must really want a challenger in GOP Primary… I hope they’re paying attention in Kentucky the way they did Utah…
HeartlandMissouri commented:
This cowardly surrender proposal by Senator McConnell demonstrates the need for new Republican leadership in the Senate. He is giving up before the real battle begins. Next week, as soon as possible, Republican senators need to hold a leadership confidence vote. They are either for McConnell or for new leadership. Conservative senators, stand up and be counted! We have your back! Now is the time for you to say “enough is enough” to the old Republican guard in the Senate that did nothing to support tea party candidates and were resigned to being a second tier party in the Senate. As we prepare to enter this critical legislative battle over the deb limit and federal spending, we need leadership that has vision, passion, conviction and courage to FIGHT! Conservative voters are eager and ready to support new leadership with their votes, wallets, time and prayers. May God Bless America!
Liberals SUCK (and whine) commented:
WTF!
What is the matter with the Republican Party? November 2010 was only 8 months ago! The Republicans need to cleanse their ranks of this liberal Democrat trash and then grow a pair of nuts. I’m sick and tired of being ruled by a liberal elite who know everything and refuse to listen to either common sense or the voice of the majority.
Pitch Mitch commented:
This is nothing but playing games with the U.S. RINO Mitch needs to be thrown out of the party.
Mark commented:
The old time party hacks like McConnell and Boehner need to go. Send a letter to these pigs and tell them what you think of them – not an email, not a phone call, but a letter. While you are at it send one to little Mohammed in the Whitehouse, too. All of these pukes quit answering the phone and ignore their email when they are pulling something particularly sleazy and unpopular.
jorgen commented:
Obviously they have bribed McConnell with something. What is it? A job position? Money? Special projects? Or are they blackmailing him?
mg4us commented:
I think McConnell is still smarting over the lose of his buddy to TEA party favorite Rand Paul. . .
McConnell loathes the TEA (Taxed Enough Already) Party. . . he is an old time politician that helped GROW the size of Government and help get us into this mess. .
Mitch. .step aside and let a real person with balls lead. . .calling Sarah Palin!!!
Estragon commented:
The concept isn’t bad – it averts default, and forces Obama and the Democrats to take 100% ownership of the debt problem. The defect is that it is an unconstitutional abrogation of legislative responsibility. The Courts have reversed previous attempts to delegate congressional power to executive agencies, and this is no different. Remember the “line item veto,” anyone?
But it was also a huge political blunder to announce the plan publicly. Now, even if it were implemented, Democrats will always refer to it as “the Republican Plan” to diffuse responsibility. If there was to be any such stop-gap, last-minute compromise, it should have been worked out behind closed doors and left secret until and unless needed, at which time a bipartisan announcement would be made.
As it is, it is now worthless, which probably means it will be adopted in some form or another. But the debt ceiling was going up in one form or another anyway, despite all the lines in the sand. We control 1/2 of one branch of government, we don’t get to govern. Just blocking it would only earn blame.
A better plan was to pass a “clean” small hike, say $500 billion, and tell Obama he could get another increment as soon as he delivers HIS list of cuts to match the amount. We need to force him to be specific. So far, the only thing he will give the details on is the corporate jet tax break.
If Obama refused, we go 24/7 accusing him – truthfully – of insisting on a longer deal just to get past the election and help his chances. But having passed enough of a hike to avoid default, the House couldn’t be blamed for it if the Senate or Obama won’t act.
Mahdi Al-Dajjal commented:
What’s been happening leading up to this event is that McConnell’s so-called “Democrat Colleagues From Across The Aisle” have been accompanying him to lunch for several weeks now. And while McConnell’s back is turned, they’ve been slipping Kool-Aid into his soft drink. Old Mitch has slowly consumed so much of the stuff that he’s actually now a die hard Obama supporter. So much so that, in fact, his next piece of Legislation that he’s been working on behind the scenes is to start funding ACORN again, so they can get started working behind the scenes on Obama’s re-election.
There’s nothing that can be done at this point to save old Mitch other than to put him out to pasture at the next election cycle. In the interim, the young Republican bucks in the Senate need to rise-up and demand that Mitch be removed from any Committee assignments and also work tirelessly defeating every piece of legislation that Mitch puts forward.
In short, he can no longer be trusted no matter what he says or does from this point forward. I think the appropriate term is called “Shunning”.
Doug commented:
There is something VERY Fishy with McConnell. This is serious business for the country. He’s willing to let Obama spend another 2.4 trillion, and we Know that any agreement to reduce a nickel of spending will not be worth the paper it’s written on.
What am I missing that leads me to believe he’s been totally compromised by the Left???
StrangernFiction commented:
Look. All if you do a google o this “is McConnell’s plan a trap?”. You will see that the WSJ, the
Huff post and numerous Dems understand that it is.
Well than it must be true.
StrangernFiction commented:
This move by McConnell indicates to me that he is pretty sure the House is going to cave (I personally would be shocked if they didn’t). Otherwise this move is just crazy………unless he’s been compromised.
Justavoter commented:
I detest Obama and people like him.The Democrats taxpayer funded social policies coupled with their ideological lust for fairness that is doled out through their never ending quest for power is bringing this country to it’s knees.
That being said,they are not alone in destroying the country for nearly the exact same reason albeit one difference.I speak of the Mitch McConnell types,they go along to get along as long as they can have their scraps of grissel off of the Democrats table because standing up for anything that some people may believe is just too hard with the media armies that stand against them,just say a speech now and then that sounds good to decent people before turning your back on them.
We aren’t where we are because of the R and the D, we are here because of the Obama and McConnell types.It should be crystal clear now that the last election was just the first step in what will be a multiple election process to get sanity and guts back into making the correct calls for the country.
bg commented:
++
Sarah warned them (ergo US).. but par their course,
they refused to listen, not too sure about US either..
my bet is they believe they’re “too big to fail”.. /s/
==
Mitch commented:
It helps two ways. It avoids a default, for which Obama and the media would blame the GOP.
Second, it gives obama enough rope to hang himself.
Republicans can vote against rasiing the debt limit and still not cause a catastrophic default that empowers Obama.
Let the voters decide in November 2012. No reforms are possible as long as Obama is in the White House.
bg commented:
++
btw re: #46 link..
it’s quite disturbing to see that all of the “comments” in certain
posts have been be “disappeared”, pray tell me, why is that??
==
Natural Born commented:
While McConnell might be looking for Taht One to own the economy, lose, and pass these powers on to the next administration, what he doesn’t see is the dems will use every penny of that new limit to put the lock on the whole show.
Finito USA
Trent J. Telenko commented:
McConnell is playing prostitute to whomever gives the biggest campaign contributions.
Goldman Sakes is on his line one.
StrangernFiction commented:
Let the voters decide in November 2012. No reforms are possible as long as Obama is in the White House.
And what do you suppose the SRM is going to say to future Republican efforts to slash government, when Obama is out of the White House? Hmmmmm? They just going to roll over because a Republican is in the White House?
The problem is that the “good guys” don’t want to fight, and that isn’t going to change when Obama is gone.
agentbrianterry'sghost commented:
He’s too much of an insider than to do anything other than maintaining the status quo.
Pathetic.
Pitch Mitch commented:
Mitch’s idea is like putting a kid in a candy store. The blame will be placed on the GOP because Ole Mitch offered it. If he thinks that will help the GOP down the road, he is sadly mistaken. The damage will already be done.
WillofLa commented:
I have been emailing and emailing both Republican and Democrat for weeks now, just on this debt issue, to stop the politicing and understand that if they keep this up America will collapse because of the Cloward-Piven plan Obama and the Socialist Democrats have been embarked on since the 60′s to bring this country to this day. If you will look up the Cloward-Piven therory you will see that is exactly what the Democrats have been doing for the past 50+ years. It overloads the government with entitlements and spending that does nothing that the people have to pay for with ever increasingly higher taxation. Add to that the Communist Manifesto in how to take over a countries government and you will see that also is what the Democrats have been doing.
But like some websites on the internet, you have to join a site to get the rest of what is not shown to the general public. It’s usually some minor amount but what it does is it gives the site the money to stay on the net by offsetting some of it’s costs. But when the Democrats need help in overthrowing the government, they needed more help from the Socialist Party USA, and the Communist Party USA. In order to get their help they needed to know that these Democrats were not just fooling around and when they get what they need the Parties would be cast aside like a coke you just finished and you whip it out the window. Ohhh, no. If you want the Parties help you have to join them so they know you are serious about what you want out of them and you won’t turn on them when you get what you want. If you check the membership roll of the Socialist Democrat Party you will find Nancy Pelosi, Barney Frank, and many others in our Congress and Senate. It’s a bit harder to get the membership rolls from the Communist Party USA, but I’m sure most of Obama’s friends and Congressmen and Senators are on that list as well.
What joining those Parties gets you is their vast information and research facilities and experts in manipulation of a countries currency’s, like George Soros does all the time, and he’s a Communist even though he doesn’t need their help in money matters, he’s well experienced in doing those things since he almost single handedly brought down the Bank of England by selling short the British pound, and wreaked the Ukranian economies by doing the same thing before he moved on to Great Britain. He has settled here to make money and gain power over our government. He needs to be arrested for treason and conspiricy to overthrow the government through manipulation of it’s currency. But he has so much control over the Stock Market authorities don’t dare right now.
McConnell is one of the old Guard of the Republican Party whose entire political career has been composed of nothing but making deals with the Democrat Party. But in the process he has learned to make deals with the Socialists and Communists in the process of slowly but surely bring a day like Aug. 2 to reality. We shouldn’t be having to do any of this if we were still dealing with the old Democrats like from JFK’s day where they were more libertarian than Socialist. They just wanted more rights and freedoms for people they perceived weren’t getting their fair share. Now, they use the power gained from the changes they accomplished over this long period of time to hold the entire economy at gun point. It’s either you do it their way or you bring the economy down. The Democrats have reconstructed a whole different form of governing than we had some forty years ago and no one tried to stop it. If they did the Democrats were ready with words like “obstructionist, racist, bigots, etc.” so as to embarrass conservatives who only want our country to operate according to the law of the land, the Constitution. What is “extremist” about that? It is extremist if you compare it to Communism. See?
CT commented:
Abdicating congressional responsibility to the executive makes Sen. McConnell unfit for leadership in the Republican Party.
Blacque Jacques Shellacque commented:
This really can’t be happening, right?
Of course it can.
As a matter of fact, some sort of stupidity from a Republican can pretty much be expected, considering that there are so many RINOs among them.
big L commented:
Obama wants to set up tehis infrastructure bank.Itis sponsored by Kay Bailey Hutchison and John Effn Kerry. It gets 30 billion tostart and then goes up from there.It is run by Bankeras and hedge fund maestros.(natch)
Afte the gop caves on the debt deal and Obama gets the entire Treasury to run, this is the next step.
Kind of like the Bank slush fund of the United States.
Check it out on http://www.rbo2.com
Or go to Yahoo and search for it.
“The train is comin’ thru and McConnell thinks it is going to pick up the mail. But the train ran over the fox and the engineers is a thief.
Molon Labe commented:
RINOs rule.
Now lets here it for Perry-Gore campaign manager in 1988
Romney-never met a liberal idea he didn’t love
Pawlenty-I love carbon taxes, amnesty, and pre- emptive surrender
big L commented:
Obama wants to set up tehis infrastructure bank.Itis sponsored by Kay Bailey Hutchison and John Effn Kerry. It gets 30 billion tostart and then goes up from there.It is run by Bankeras and hedge fund maestros.(natch)
Afte the gop caves on the debt deal and Obama gets the entire Treasury to run, this is the next step.
Kind of like the Bank slush fund of the United States.
Check it out on http://www.rbo2.com
Or go to Yahoo and search for it. it is a horrible idea.
The train is comin’ thru and McConnell thinks it is going to pick up the mail. But the train ran over the fox and the engineers is a thief.There is no train and yo have to stand up to Obama,
If the American people are too stupid to figure out all this then we are lost anyway.
Rose commented:
THANK YOU IMMENSELY, JIM HOFT for this POV ARTICLE!
Thank you and God bless and keep you! Psalm 91, AMEN! SHALOM Blessings.
Speaking Clearly commented:
Until Conservatives have control of all 3 of: The House, Senate, and Oval Office, then NOTHING IS GOING TO IMPROVE OR CHANGE.
We are being lied to everytime someone insists that Republicans and Democrats have to compromise, and meet in the middle, in order to solve this country’s problems.
Don’t let these talking heads in the media and in Washington dumb you down.
The truth is that Barack Obama has NEVER compromised on any of the “TRANSFORMATION” of the United States. He is the most shrewd, controlling, and coniving politician that has EVER occupied the Oval Office…and the only thing he is good at is playing POLITICAL CHESS.
The truth is that the Old Republican Establishment is PLAYING TOO NICE WITH OBAMA.
The truth is the newly elected Tea Party Freshmen are the only ones standing firm and playing rough like Obama is.
A “COMPROMISE” will not save this country.
The only solution to this evil chess game that Obama is playing is electing a Conservative President in 2012, and gaining control of BOTH THE HOUSE AND THE SENATE.
ANYTHING SHORT OF DOING THIS IS JUST WASTING TIME AND OUR MONEY AND OUR COUNTRY.
You don’t hear O’Reilly telling you this truth, and you don’t hear Hannity telling you this, and you certainly won’t hear anyone in the liberal media telling you this.
The focus needs to be Conservatives gaining control of the Presidency, House, and Senate…with this the Judicial Branch will follow….and the country will follow.
We should NEVER reach an agreement with a party of idiot Democrats that only want to destroy this country.
Vote them out.
Speaking Clearly commented:
Rant.
Conservatives should focus more on the NUMBERS!
This is a NUMBERS GAME.
I can guarantee you that the Obama Administration have the numbers game and the evil chess game they are playing down pat.
Even if Conservatives had gained control of the US Senate in 2010, Obama would be voto’ing EVERY attempt by the Republicans to fix anything.
This is because Republicans would have needed a filibuster and voto-proof majority, and that is a tall order.
Controlling the Oval Office, the House, and the Senate is the ONLY SOLUTION and should be our MAIN FOCUS.
OTHERWISE THIS MADNESS WILL CONTINUE UNTIL WE GO THE WAYSIDE LIKE ROME.
What is on the line for Conservatives?
1. We are losing the power of individual freedom more every day.
2. We have already lost the will to control our borders and the flow of illegal immigrants and drugs that are destroying us from the inside.
3. Our wealth and knowledge has been systematically re-distributed the rest of the world.
5. This forcing Americans to go decades without ANY gain in prosperity, while the standard of living goes up for those countries that are recieving wealth, knowledge, and resources.
6. US taxpayers are still paying billions and billions of dollars in aid to other countries while we are way past broke. Madness.
7. Our media is saturated with stories about fake Hollywood Stars and overpaid Sports stars, making more money endorsing products and selling clothes lines. Beauty and dating advice, feminizing Men and Boys while empowering Women and Girls. Our citizens have become a bunch of stupid sheep to ingest this filth.
8. We don’t even know our history and where we came from.
9. Political Correctness is destroying the best of us.
10. What is sad is that millions of people around the World are still flocking to this sinking ship, because as lost as we have become, the rest of the World is still looking to us for hope.
“A Republic if We Can Keep It”
saveus commented:
this plan is insanity
give obama more money and power??
no way!!
S. Wolf commented:
‘Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
“Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”
In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.
“President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services,” said Cole, also a UCLA professor of economics. “So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies.”‘
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx
McConnell is helping to prolong this depression.
mn8 commented:
TREASONOUS TRAITOR