Posted on 02/06/2009 12:47:50 PM PST by library user
WASHINGTON -- Convinced tax cuts will not stimulate the nation’s economy, Sen. Dianne Feinstein spoke out Friday against President Barack Obama's economic recovery package.
“I’m going increasingly concerned about the bill as to whether it is really going to be a stimulus,” she told fellow Senators during a debate of the bill.
Feinstein then roiled through a litany of California’s financial woes.
“I come from a state which has more people unemployed today than the population of over a dozen states,” she said. “A state where the bread lines are growing, Where the need for assistance is growing. Where the state has a huge deficit. Where counties are unable to fund their operating maintenance. Where all capital projects have stopped and where the state now furloughs employees.”
“I think as we dither, Rome burns.”
Feinstein said her issue with the bill is the tax cuts included.
“What in my view a stimulus is, is not candidly speaking a tax package,” she said. “I do not believe in this economy tax cuts are simulative… I worry about this economy. The point of this package is to get jobs out to the people. So I reserve the right at the end of the day to vote against a package that does put those jobs out there.” . While Feinstein spoke out against the package, Senate Democratic leader Harry Reid of Nevada was trying to rally support for it.
"The world is waiting to see what we're going to do in the next 24 hours," said Reid, reflecting the Democrats' fierce urgency to wrap up the bill as conservative Republicans criticize the legislation and the economic picture grows bleaker.
A group of nearly 20 moderates from both parties -- more Democrats than Republicans -- have been negotiating in hopes of cutting as much as $100 billion from Obama's plan, which has ballooned to $937 billion on the Senate floor, with further add-ons possible during a long day of votes Friday.
Their efforts came as new government figures showed recession-battered employers eliminated 598,000 jobs in January, the most since the end of 1974. The unemployment rate rose to 7.6 percent.
Obama said he hoped Congress members would react to "the single worst month of job loss in 35 years."
"I hope they share my sense of urgency and draw the same unmistakable conclusion: The situation could not be more serious," Obama said Friday. He acknowledged the $900-billion-plus plan was not perfect and pledged to work with lawmakers to refine the measure, which he called "absolutely necessary."
"But broadly speaking, the package is the right size," Obama said.
Earlier, Reid commended the work of the centrist lawmakers and said progress has been made since Thursday night. He said a vote on the Senate bill by Friday evening was possible.
Sen. Susan Collins, R-Maine, Friday morning circulated a roster proposing $88 billion worth of net cuts from the measure. She proposed eliminating money in the bill for K-12 education while boosting funding for Pentagon operations, facilities and procurement by $13 billion.
Collins is one of just three to five Republican targets Democrats hope to attract to breach the critical 60-vote barrier, though some in the group, such a Mel Martinez, R-Fla., were said to be balking.
Collins has been working with Ben Nelson, D-Neb. Both met separately with Reid Friday morning.
Republican leader Mitch McConnell of Kentucky said the GOP is ready to support a bill, "but we will not support an aimless spending spree that masquerades as a stimulus."
He added: "Putting another $1 trillion on the nation's credit card isn't something we should do lightly. We need to get a stimulus. But more importantly, we need to get it right."
Obama pleaded with House Democrats on Thursday night to reject delaying tactics and political gamesmanship and work with the Senate to get a bill. In the campaign-like speech, the president also ridiculed Republican criticism of the legislation.
"We can't embrace the losing formula that says only tax cuts will work for every problem we face; that ignores critical challenges like our addiction to foreign oil, or the soaring cost of health care, or falling schools and crumbling bridges and roads and levees," Obama said at the retreat in Williamsburg, Va.
"I don't care whether you're driving a hybrid or an SUV -- if you're headed for a cliff, you've got to change direction," he said.
He dismissed at least one GOP complaint about the bill.
"So then you get the argument, well, 'this is not a stimulus bill, this is a spending bill.' What do you think a stimulus is? That's the whole point," he said to laughter from House Democrats.
If a compromise on trimming the bill can't be reached -- or if it won't fly with Democratic loyalists -- the alternative for Reid is to try to ram the measure through with just a few GOP supporters, such as Olympia Snowe of Maine. He expressed confidence he has the 60 votes needed to press it through if need be.
The massive measure is a key early test for Obama, who has made it the centerpiece of his fledgling presidency.
The Collins-Nelson group is hoping to bring the measure's cost down to the $800 billion range, though they were working from the $885 billion measure that came to the floor -- ignoring the more than $50 billion added over the past three days. A recalculated cost for a popular plan to award a $15,000 homebuyer tax credit pushed the overall price tag to $937 billion.
"So let's pass this bill and spread some napalm."
breadlines?
“Clinton’s economic advisor Robert Rubin reminds us that increasing the deficit limits growth when government borrowing increases interest rates and crowds out productive private investment.
Please ask our Democratic Senators to listen to the Party’s wisdom on growth, and vote against the “Stimulus” bill. It will only impoverish our grandchildren with more debt and stifle growth, just like Robert Rubin said!”
Out of touch with the American People!
We always thought that these meatheads couldn’t count, and now we know for sure.
My favorite part of the bill is the 88-million dollars for the Milwaukee Public Schools for new school construction - even though Milwaukee has 15 VACANT schools.
In the Boston State House, we used to call “rubbing butter on a fat pig’s ass.”
We owe Algore a great debt of gratitude. His “global warming” hoax convinced a lot of the ignorant not to trust politicians. Especially if they are using scare tactics on you.
Yes, the lines for the sourdough stretch around the corner. The Pumpernickle lines are shorter but don’t even try to get into the Chibata Bread lines. Those are for celebs only!
And this is everyone in the country's problem, why?
Yes, you come from a state that refuses to employ any fiscal discipline and yet somehow it is the nation's fault. At least by not stating the culpability of the voters and pols of California you are essentially saying it is not the state's fault.
Go suck on a lemon.
I think she’s using the “tax cuts” issue as a smokescreen
She knows this trillion dollar bill says OINK.
She also knows even if she goes ahead and votes to spend a trillion tax dollars on this porker, the job losses are going to continue and many people in california will be lined up outside her office with a handful of IOU’s and tar and feathers in a matter of months.
If you ask me, she has the match in her hand.
No, Dianne, when you dither the fire starts to die down. It’s only when Congress acts that you pour gasoline on it.
Actually, you’re right!
3 cheers for Al Gore!
Let’s see... who employs people? Yes, government does... and? That’s right, private citizens and corporations. Good. Now, if they are tight on money, what do they do? Very good, they cut their expenses. What’s a really big expense? No... people. Now, what if we lowered their tax burden... would that make their condition better? Yes, it would. Then what would they do? No, you’re thinking of the government again... they would invest in their businesses. That involves capital spending and hiring. Does that sound a little bit stimulating to the economy?
Dianne, here ends the lesson.
Oh man that is funny!
Feinstein: ‘I Think As We Dither, Rome Burns’
Actually she’s right. Liberals undermined Roman self reliane. Made them soft. Collapsed the economy. Undermined national defense. When the barbarians arrive here, liberals will give them bjs.
Oh that’s just unacceptable!
She’s calling the magic marxist Emperor Ne*ro.
Yep that’s bipartisanship. She won’t vote for it because it has provisions in there to get Republicans to vote for it.
I think we’re like Alice and have fallen down the Rabbit Hole.
And where is Rome today lady!?
Rome’s fate will be upon us if this bill passes.
And speaking of burning...don’t get me started.
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