Reaction To Bush Economic Stimulus Plan
Candidates and Bloggers Respond To Bush Stimulus Plan — by Catherine Morgan (cross-posted at Care2 Election Blog)
It seems like it was just yesterday that President Bush was trying to convince us that the American economy was on a “solid foundation” (well, he actually said that about two weeks ago). Finally, the Bush administration is ready to admit there may actually be some cracks in that foundation, and today announced plans for an economic stimulus package.
Now the question is – Will this plan to stimulate the economy actually work? Who will this plan benefit the most? Will it benefit the people struggling the most in our country? My first impression of this plan, is that it will just be a band-aid, and one that will be too small to actually stop the bleeding.
I was disappointed (although not surprised) that President Bush didn’t go into more detail about his plan…It felt a lot like another one of his “just trying to stay relevant” moments. It sounded like he wanted to let congress know that it will be his plan or no plan. Even though he spoke of bi-partisanship, I didn’t get the sense that he actually meant it [I do hope I am wrong about that].
What are some of the candidates saying about the Bush economic stimulus package?
John Edwards released the following statement today on President George Bush’s remarks on the economy:
“Now that George Bush has finally joined the call for an economic stimulus package, the time for debate and delay is over. American families cannot wait any longer for swift and decisive action. After years of stagnant wages, the economy may be slipping into a recession and if we don’t act now we may make our problems worse.”The economic damage done by Bush and Cheney is deep and long-lasting, and the temporary tax cuts he proposes will not solve it alone. Making matters worse, his plan provides little or no help to some 50 million low-income and middle class families.
“To help middle class families get ahead over the long haul, we need to invest in a clean energy infrastructure that will create jobs now and pay economic dividends for decades to come. A helping hand to families facing foreclosure, states in the midst of budget crises, and long-term unemployed workers will cushion the blow to struggling families and prevent further economic damage. We must also guarantee universal and affordable health care and reverse the shift of the tax burden from the wealthy onto middle-class workers.”
Here is the statement by Hillary Clinton on the Bush stimulus package…
“Press reports this morning indicate that President Bush is finally releasing an economic stimulus plan. Unfortunately, the Bush plan shortchanges the 50 million Americans who most need an economic shot in the arm.
“I have been calling for bipartisan action on stimulus for over a month and last week laid out a detailed plan to help struggling families and boost our economy. While I believe my plan is the strongest approach, the need for stimulus is urgent and we need a bipartisan package that is temporary and targets those who need help the most.
Sen. Barack Obama, in a written statement…
“After months and months of watching families struggle to get by in this economy, George Bush finally offered a plan that would leave out tens of millions of working Americans and seniors who need help most and are most likely to spend and boost our economy.”
“President Bush’s plan will help, and it’s an important step. But South Carolina and the rest of the nation need some bigger changes if we are to reverse the trends of the last few years…If we replace the IRS with the Fair Tax, we lift the burden off of the small- and medium-sized businesses who create most of the jobs. Then the only people who we then have to feel sorry for are the legions of Washington lobbyists who manipulate the current complicated code for somebody else.”
Rudy Giuliani released the following statement on the American economy…
“President Bush’s stimulus package is a positive step toward re-energizing the American economy. In times like this it is important to ease the burden on American families by creating an environment where businesses can thrive and jobs can grow.
“It’s the reason why my tax plan to strengthen the economy is the largest tax cut in American history, saving families thousands of dollars a year. I will extend the current tax rates immediately and go even further – calling for lower rates, while also dramatically simplifying the tax code. It’s the pro-growth plan that can get our country moving again.”
Today, Governor Mitt Romney issued the following statement on the President’s remarks concerning an economic stimulus package…
“Today, the President took an important step forward to jumpstarting our economy by laying out his principles for an economic stimulus package. We must immediately cut taxes on both individuals and businesses, and address the housing crisis to help American homeowners. Permanent reductions in both individual and corporate tax rates are vital to strengthening the economy in the long term. Tomorrow, I will offer my ideas on how to most effectively grow this economy in the short term. It is critical for every American that Washington quickly debate, pass and sign into law a pro-growth stimulus package.”
John McCain said…
“I believe that together these moves will give the Iraqis and Americans the best chance of success,” said McCain, R-Ariz., a leading presidential contender for 2008.
McCain also took a shot at Democrats who say the United States must bring some troops home within four to six months.
“I believe these individuals … have a responsibility to tell us what they believe are the consequences of withdrawal in Iraq,” he said. “If we walk away from Iraq, we’ll be back, possibly in the context of a wider war in the world’s most volatile region.”
I hoped to find a response from Ron Paul, but I was unable too. Just in case, here is a link to Ron Paul’s press release page.
Here is how the market reacted to Bush’s economic stimulus plans.
A look at what some of the bloggers are blogging on this subject…
Comments
Comment from Larry
Time: January 19, 2008, 9:30 pm
Passing out more money to the rich will only drain what little is left of the Social Security fund and further put the economy into the bankruptcy of Pre-Depression.
Comment from Zooey
Time: January 19, 2008, 3:40 am
Hey, thanks for the link, Catherine.