Economy | Looking At How We Got Here

Senators Barbara Boxer (D-CA), Debbie Stabenow (D-MI) and Bob Melendez (D-NJ) castigate the Republican policies of the Bush administration and show that John McCain will be more of the same.

CandL

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The Great Stimulus Swindle

David Sirota describes what we pretty much knew was going to happen with the big Republican/Bushdog-Dem economy boosting(BWAHAHA)"rebates".

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The Stimulus Swindle

"..Before, it was just commoners complaining — regular homeowners, wage earners, troops coming home from Iraq, you know, the 99 percent of us who can't afford the thousand-dollar-a-plate political fundraisers.

But now Wall Street is panicking. In the last month, the financial industry's profit margins dropped thanks to mortgage defaults brought on by irresponsible lending. And when the corporate executives who underwrite campaigns start whining, politicians develop "stimulus" schemes using the blight of layoffs, foreclosures and wage cuts to justify tax cuts for those doing the laying off, foreclosing and wage cutting.

Specifically, most GOP presidential candidates are demanding corporate tax cuts as the "stimulus" to improve American competitiveness, ignoring a recent Treasury Department report noting that the United States already has among the lowest effective corporate tax rates in the developed world.
Republicans like John McCain, fresh off a Merrill Lynch fundraiser, say we need not expand unemployment benefits and food stamps to help workers and give the economy a reliable Keynesian boost. No, they say we must hand over more cash to the same financial industry that just gave its executives $39 billion worth of year-end bonuses.

Leading figures of both parties seem eager to help limit the debate over "stimulus" and make the final package a corporate goodie bag. According to the Washington Post, Democratic Sen. Max Baucus (Mont.) asked economists affiliated with The Hamilton Project — a Citigroup-backed think tank — to testify to Congress at its initial hearings on a stimulus package. Labor economists, by contrast, were not invited.."

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Atta Boy George!

Stock market plunges nearly 300 points after Bush speaks












If this gang weren't so bloodthirsty, greedy and frightening it could be Sooo funny. They're still funny in a "Doctor Evilish" kind of way. I mean Just look at Frick and Frack standing behind dumbya in the photo. Don't they present a picture of competent confidence? Paulson looks like he'd rather be ANYWHERE else and "Dick" Cheney is just thinking of killing something. While I'm on that seemingly eternal Bush train wreck, has ANYONE actually been talking about, or asking about, or pointing out who got our country into this mess? I'm not surprised that the Matt Lauer corporate news clubs aren't pointing out who's at fault. They're not allowed, nor inclined to if they were.
Maybe it's just me. I've just not been getting to see much of the debates or campaign talk. Most of my time is spent working and trying to keep up. I know the Republican's platform will remain putting christianity into the constitution, killing/deporting more illegal aliens, killing more Mid-Easteners(preferably Iranians at the moment), More tax breaks for the poor oil corporations, etc, etc. But have the Democratic frontrunners-at least, been pounding it home as to who's fault it is that our economy is in dire need of life support? Who inherited(like everything he's ever had) a virtually booming economy, billions in surplus, overall international good will, I could go on and on. Bushco is Evil, greedy old white men that have royally f*cked up our country and continue to do so. Apparently with impunity(see above corporate news comment).
That they're mostly Incompetent Ignorant A**holes(IIA's) is probably a plus since they could have done far worse(and just may yet). The arrogant ignorance, the greed and intolerance, small mindedness and holier than thou-ism. That's where the funny part starts coming in.

The Republicans are sooo glad to be out of those horrible eight Clinton years of peace and prosperity. The whole country should be dancing at the end of dubya's eight years of war and pestulence.

Linked.

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Red Ink Dubya To "Stimulate" Economy

UHOH! Looks like Bushco cronies will be getting more economic love this year! I guess war-profiteering, corporate welfare and price fixing just aren't getting that money higher and higher enough. I'm sure he'll Iraqitize and Katrinatize that thar economy even more than he has.

Bush ponders giving economy boost

WASHINGTON --Amid new worries about a possible recession, the housing slump and rising oil prices, President Bush is exploring an economic stimulus package to reinforce the U.S. economy.

White House press secretary Dana Perino said Thursday that Bush is closely monitoring economic trends and is seeking suggestions from his economic advisers on the pros and cons of such a package.

"The president has indicated that he will not make up his mind as to whether or not to lay out a package until the State of the Union," Perino said about the president's speech on Jan. 28. "Our economic policy is like our military policy. It is based on conditions on the ground, and the president listens to advice from his economic advisers."

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