#1 "The Liberal Congressional Mentality: Congress Must Spend Money to ‘Show it Cares' "
12-11-2008, 06:49 PM
- Join Date
- Aug 2005
Senate Finance Chairman: Congress Must Spend Money to ‘Show it Cares’
Sen. Max Baucus (D-Mont.), the chairman of the Senate Finance CommitteeWashington (CNSNews.com) – Sen. Max Baucus (D-Mont.), the chairman of the Senate Finance Committee, said the federal government is going to have to spend a “significant” amount of money if it is going to get the country out of its current economic troubles -- despite rapidly ballooning federal deficits, historic unemployment, and the hundreds of billions already spent.
“One thing we’ve learned from past recessions, is that you’ve just got to spend money to get out of it,” he said, in response to questions from CNSNews.com.
Baucus said there wasn’t any formula behind that spending, saying that it would be up to Congress to determine the best course for economic recovery.
“We just have to use our best judgment (because) there’s no science to this,” the senator explained. “We just have to spend some significant money.”
Baucus, speaking to reporters Wednesday about financial issues for 2009, said that government needs to spend big not only to create jobs, but to let the public know it cares.
“You start to send the psychological signal that Congress doesn’t care,” Baucus said. “What are people going to do then, if they think Congress doesn’t care?”
Baucus then paradoxically called for budgetary reform, saying that there has to be a federal plan to start paying back the national debt. The Montana Democrat refused to elaborate on the details of a proposal despite being pressed by CNSNews.com
“We’ve got to pay down the debt, (it) is getting bigger and bigger,” Baucus said. “The question is, when are we going to start paying the dues? We have got to start paying them.”
Baucus said that he has been talking with Senate Democratic leadership about the deficit, and feels that there will be a plan in place “sooner rather than later.”
“My sense is that, and I have talked with the leadership about this, we have got to start to put a process in place virtually now, early next month; (one) which addresses debts and deficits in 2010. I’m not saying what that process is. It’s a process which is very speculative,” he said.
When CNSNews.com asked about the possibility of new taxes being included in the plan, Baucus said that it was something that needed to be addressed earlier rather than later.
12-11-2008, 09:27 PM
- Join Date
- Nov 2008
- North GA
no science behind it ? wat is Economics for then ?? i knew that was BS class i should have slept more often
12-11-2008, 11:20 PM
- Join Date
- May 2008
- Sonora, Texas
I get it! Congress can spend money to pay the debt down! It makes perfect sense now.
12-12-2008, 09:13 AM
How about this. A federal tax holiday for a quarter, during that time, congress totally revamps the tax law. Either go to a flat tax or a 1 page tiered tax. I mean if the govt is just going to send checks to people, why not cut out the middle man. But, the libs will whine that this would only benefit the rich, (working people).
Of course, politicians will never do this. Imagine the howl of the financially oblivious when they see that first pay check after the tax holiday. It would force congress to address the tax issue.
If we made the US more tax friendly to businesses, we could grow out of this quickly.
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