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Countdown to More Debt: Dems Considering "More Expensive" Plans for Next 'Stimulus'
GOP Leader: "Americans are asking 'where are the jobs,' but all they are getting from Washington Democrats is more spending and more debt piled on our kids and grandkids."
Washington
(Nov 17, 2009)
Washington Democrats are marking the nine-month anniversary of the trillion-dollar ‘stimulus’ by acknowledging it isn’t working and preparing another ‘stimulus’ of more spending and more debt to be piled on our kids and grandkids. The Obama Administration pledged the trillion-dollar ‘stimulus’ would keep the unemployment rate below eight percent and create jobs immediately. The ‘stimulus’ has ended up producing countless examples of wasteful government spending while the unemployment rate has risen to double digits and more than three million Americans have lost their jobs. A jobless recovery is not what the American people were promised. Instead of doubling down with more spending and borrowing, American families want fiscally responsible solutions to get the economy back on track, which is why Republicans sent a letter to President Obama last month reiterating common-sense solutions to help small businesses create jobs.
House Republican Leader John Boehner (R-OH) commented on the prospect of another ‘stimulus’ and called on Congressional Democrats to immediately take up Republicans’ common-sense, fiscally responsible solutions to help small businesses create jobs:
”Americans are asking 'where are the jobs?' but all they are getting from out-of-touch Washington Democrats is more spending and more debt piled on our kids and grandkids. A jobless recovery is not what the American people were promised. Instead of doubling down with more spending and borrowing, the American people want fiscally responsible solutions to get the economy back on track. Democrats in Congress should immediately take up Republicans’ common-sense, fiscally responsible solutions to help America’s small businesses create jobs.”
OUT-OF-TOUCH WASHINGTON DEMS DOUBLING DOWN ON THE TRILLION-DOLLAR ‘STIMULUS:’
• “…[B]older and perhaps more expensive plans could be in the offing. … Appropriations Chairman David Obey (D-Wis.) … strongly endorsed another stimulus package Nov. 6, saying the economy needed ‘a bigger kick.’ … Speaker Nancy Pelosi (D-Calif.), who has already held her own meeting with economists who universally recommended additional spending, has noted that Appropriations Chairman David Obey (D-Wis.) has presented an array of potential items behind the scenes. Publicly, Pelosi … has mentioned such items as more aid to cash-strapped states and a tax credit for hiring new workers.” (Roll Call, 11/17/09)
• “Rep. Chris Van Hollen of Maryland, who chairs the Democratic Congressional Campaign Committee, said a number of potential vehicles for moving job-related measures, including spending bills, are being considered.” (CQ Today, 11/17/09)
• “Pelosi had rejected the idea of legislation dubbed ‘stimulus’ earlier this fall. But then she took time out from the healthcare debate in late October to meet with a band of economists for ideas on ways to spur the economy.” (The Hill, 11/16/09)
REPUBLICANS’ SOLUTIONS TO HELP SMALL BUSINESSES CREATE JOBS INCLUDE:
• Allowing small businesses to take a tax deduction equal to 20 percent of their income.
• Letting small businesses join together to purchase health insurance for their workers the way large businesses and labor unions do.
• Enacting genuine legal reform and policies that incentivize wellness to reduce health care costs for small businesses.
• Lowering taxes for all taxpayers by reducing the current 15 percent rate to 10 percent and reducing the current 10 percent rate to 5 percent. This will provide an immediate increase in income to every taxpaying family in America and free up capital to help small businesses hire more workers.
• Expanding health savings accounts (HSAs) to provide additional flexibility to small businesses in providing health care to their employees.
• Increasing the net operating loss carry back from 2 to 5 years to provide struggling employers with additional resources to keep their doors open.
NOTE: These proposals, some of which were presented to President Obama as early as his first week in office, were developed by House Republicans' Economic Recovery and Health Care solutions groups. The Economic Recovery Solutions Group, led by Republican Whip Eric Cantor (R-VA), is developing additional proposals to spur job creation.
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