When the Republican administration of George W. Bush appropriated $700 billion last fall to try to solve the economic crisis, it was money dedicated to bailing-out big banks and it has almost no oversight built into it. The banks basically were given carte blanche, and they still aren't giving out the credit our economy needs.
When the Democratic administration of Barack Obama seeks to save our economy by pumping a little more than that into REAL JOBS and REAL TAX CUTS for ordinary Americans, not a single Republican in the House would vote for it. Good thing there's a Democratic majority to pass the stimulus package--which they did today.
I am highly critical of this stimulus package myself, but that doesn't mean it shouldn't be done. What else are we going to do....right now?
The Republican mantras of no regulation and trickle down tax cut economics is completely bankrupt. We have been trickle-downed, quite frankly, until we're literally dying.
And the vote on party lines today shows just how rigid this dogma is in that party.
Wednesday, January 28, 2009