There are a great many things that we are going to learn about the lack of efficacy inherent in Keynesian stimulus efforts. But among other things, we ought to learn--and likely will, once the full implications of this farcical stimulus exercise are known--that rushing exceedingly complicated legislation is a ridiculously bad idea.
This is absolutely right. As Yousefzadeh notes, the question of speed versus common sense came up today on Twitter. Senator Claire McCaskill (D-MO) tweeted (yes, that's really what it's called) earlier today: "Don't know when we're going to vote. Will the no votes delay vote just because they can? Speed is important. They know that." The Senator was making the same fear-mongering implication I've seen on countless websites in the past week or so. Namely, that Republicans are bringing about doomsday by not being quick enough in acquiescing to every Democratic whim in the so-called stimulus package.
Always quick with a response, Republican Minority Whip Eric Cantor tweeted back: "Those in favor of speed over commonsense may just be afraid of letting the People know what they are ramming through." In the words of Yousefzadeh, "quite so."
It is an exceedingly cynical tactic on the part of Democrats and their punditry to foist upon the voter the notion that review of the bill is tantamount to economic suicide. It is absurd, furthermore, to see how many voters are willing to blindly sign on in the name of this new and sudden paramount goal of expediency. It was President Obama himself who promised, on the campaign trail of course, that new legislation during his administration would be given a five day review period, during which time the American people would be able to voice their concerns. Yet here we sit, the Congress being given only one day to review the nearly 800-page document, and the President's promise to have the matter settled by Tuesday of next week remains unaltered. Where is the transparency? Where is the accountability? Well, I'll tell you where it isn't.
As Jeff Emanuel notes at Redstate.com, it is not in the conference report on the stimulus bill. Leaked documents show that the material and the conference's conclusions were marked "confidential."
It is most certainly not evident when the administration is attempting to cram what could end up being over 3 trillion dollars in spending down the throats of the American public with little opportunity to object or even review, as noted by Dan Spencer of the Examiner earlier today.
The administration and its many allies are prepared to spend the people's money on any old project they see fit to spend it on, no matter how absurd or wasteful. The office of House Republican Leader John Boehner (R-OH) sent Erick Erickson at Redstate a list of ways in which the bill is detrimental to average American families. Regardless of party, you should want those objections and criticisms reviewed. This is America's future at stake, is pushing something through headlong really the best option? Do you favor speed over efficacy?
The stimulus package and the surrounding debate are perilous with bad decision-making and the sacrifice of the will of the people on the altar of fear. Pejman Yousefzadeh ended his article with the clearest and most chilling prediction of the consequences of ramming through something so tremendously complex and obscenely expensive:
"We will repent in leisure what we legislate in haste." If I may say, quite so.
Speed is important because God forbid lower fuel prices start to improve the economy without any "stimulus". Democrats will miss a golden opportunity to fund a decades long wish list of social spending while many are still in panic mode.
The most casual viewer of CNBC knows whenever the FED raises or lowers intrest rates the results take about six months to filter through the economy.
Last summers record high fuel prices acted as a HUGE tax increase on EVERYONE and SUCKED billions upon billions from the economy. Many of the gloom and doom economic reports, unemployment, factory orders etc are reward looking and were impacted by these record high fuel prices.
Fuel prices have been DOWN since the election. These lower fuel prices have acted as a HUGE tax cut on EVERYONE. Lower fuel prices have been a huge tax cut for Americans, MANY TIMES WHAT THE GOVERNMENT COULD AFFORD TO GIVE US. With lower fule prices pumping billions upon billions more into the economy it WILL have some positive impact on the economy VERY soon.
Democrats have been FEAR MONGERING by calling our 7.6% unemployment, just 2.6% above the post WWII average of 5%,a "catastrophic" the sky is falling crisis. This FEAR MONGERING has many Gen Xers, who have spent their entire adult lives (1982-2008) in a 25 year economic boom. Democrats FEAR MONGERING among this huge voting block has them in panic mode to "do something", anything before the Porkulus bill is scrutinized and people learn more about it. This suits Democrats fine because they need to pass this bill before lower fuel prices sart showing up in the economy and it improves anyway.
Respectfully, Pete
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Tommy Christopher
10:08PM Feb 12th 2009
Who are you, old man, and what have you done with my friend Caleb?!?!?!?
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FLVOTER
10:58PM Feb 12th 2009
OMG...trillions of dollars were spent on the wrong war in Iraq...and given in many no bid contracts and the Republicans had no problem. Trying to bring the United States of America back to a land og opportunity for the hard working average American...then they have a problem! They have their pockets over flowing...they don't give a damn about the people they were elected to respresent and serve!
GOD BLESS AMERICA!
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Caleb
11:01PM Feb 12th 2009
FLVoter this is what you and those like you continue to not get. Is this stimulus actually going to fix the economy? Do you have any clue at all? No, you don't. The answer is, it won't. So your argument is false on its face. It's not an argument about spending money on FIXING the economy. Its an argument about spending money on NOT FIXING the economy.
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FLVOTER
11:13PM Feb 12th 2009
Caleb...you are the one who misses the point...putting average Americans to work will help. Their income will be taxed, so some goes back to the Treasury. What they have left they will spend buying goods and services, which will help other workers.
Giving a check to most Americans did not work.
Giving tax breaks to the rich and expecting anything to trickle down did not work.
And not doing anything certainly is not working!
GOD BLESS AMERICA!
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Caleb
11:14PM Feb 12th 2009
That doesn't mean that this is the right thing FLVoter. If I have seven things, and the first five didn't work, does that mean number 6 is guaranteed the right thing to do?
You can't justify THIS bill by claiming X other things didn't work. That's kinda the point.
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FLVOTER
11:23PM Feb 12th 2009
Caleb.... why do you beleive putting people to work is not the answer. What problem do you forsee?
GOD BLESS AMERICA!
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Caleb
11:27PM Feb 12th 2009
It is simplistic in the extreme to refer to the stimulus package as "putting people to work". One can only presume you've read not a word of it.
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FLVOTER
11:30PM Feb 12th 2009
Caleb...it is a shame that you would rather try ti insult than carry on a true conversation. Just cheap scare tactics Caleb...they do not work on inteligent people........
GOD BLESS AMERICA!
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Caleb
11:31PM Feb 12th 2009
FLVoter, I'm sorry you took that as an insult. I think it's an entirely appropriate rejoinder to your assertions.
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Richard
11:47PM Feb 12th 2009
There is not one thing in that bill that will create permanent jobs. You can build bridges and recreational vehicle trails, and dog parks for only so long. And pushing condom use is certainly not going to make us rich. Will someone please show me one thing in this bill that will produce permanent employment.
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Coach
11:49PM Feb 12th 2009
Well said, Pete. Fire every one of them that voted to pass this socialist program. The only good that will come of this is when the majority of the Dems find themselves packing up and leaving DC at the end of their terms.
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Richard
11:53PM Feb 12th 2009
FLVOTER11:30PMFeb 12th 2009
Caleb...it is a shame that you would rather try ti insult than carry on a true conversation. Just cheap scare tactics Caleb...they do not work on inteligent people........ ***************************************************** Hmmmmm scare tactics, now who does that remind me of?? Oh now I remember, if we don't pass this bill today the sky will fall and all america will starve. B.H.O
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Coach
12:16AM Feb 13th 2009
Our engines are out and we're heading for the Hudson River and we have a rookie in the pilot's seat. Brace for impact! Brace for impact! Where's Reagan when we need him?
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jpgoodrow
12:18AM Feb 13th 2009
MCASKILL IS A DISGUSTING HATEMONGERING DEM CONGRESSWOMAN who American can all be ashamed of. I know I am.
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Coach
12:21AM Feb 13th 2009
Oh, wait a minute. The engines aren't out, the rookie pilot was pushing the throttles the wrong direction. Sure hope he figures it out real soon!
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jpgoodrow
12:21AM Feb 13th 2009
LIKE ODUMMY'S BLIND HERD IT IS SAFE TO ASSUME McCaskill has not even read what she is in such a hurry to cram down America's throat regardless of cost.
But after watching her drool in Oding-a-ling's footsteps for nearly two years it is unsurprising. It's quite clearly time for her to get the boot.
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Coach
12:24AM Feb 13th 2009
Here's one that needs to pass in a hurry. Term limits of 3 terms for the House and 2 for the Senate. Politicians are like diapers, they need changing regularly and for the same reasons.
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Coach
12:28AM Feb 13th 2009
My banned assualt weapon has killed less people than Ted Kennedy's car. Would somebody please explain to him what "retire" means?
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Louis IX KingofFrance
12:30AM Feb 13th 2009
I heard the gop's new talking point was to slow down. people in walkers always say that. so do slow learners.