Wonder what you would find if you frisked the Democratic Party and the U.S. economy?
Answer: Democrats on Capital Hill are creating ANOTHER stimulus porkulus spending package!
What else is new folks? The Democrats ram through a worthless $787 billion spending package that hasn’t worked so they plan on spending MORE money:
The cost of a new jobs bill Democrats hope to move early next year runs to nearly $300 billion when major proposals under serious consideration are added up.
Lawmakers are looking to extend unemployment insurance and COBRA healthcare benefits for the unemployed through 2010 at a cost of $100 billion alone, according to the sponsor of House legislation, Rep. Jim McDermott (D-Wash.).
House Transportation and Infrastructure Committee Chairman Jim Oberstar (D-Minn.) and Rep. Peter DeFazio (D-Ore.) pushed Wednesday for $69 billion for highway and transit projects that could be started almost immediately with funding. Oberstar had criticized the earlier stimulus bill for not including enough infrastructure spending, and House Speaker Nancy Pelosi (D-Calif.), House Appropriations Committee Chairman David Obey (D-Wis.) and Sen. Kent Conrad (D-N.D.) have voiced support for more infrastructure spending to create jobs.
Democrats would also increase loans from the Small Business Administration (SBA) at a cost of $20 billion, according to Zandi.
He called for raising limits for the SBA loans, removing the interest rate cap on them in order to allow credit to be given more freely and using leftover bank bailout money as small-business credit.
Tax credits for businesses that hire new full-time workers would cost about $27 billion under a proposal by Sen. Russ Feingold (D-Wis.) and the Economic Policy Institute, a left-leaning policy group. A new hiring tax credit has received extensive discussion and is under consideration by President Barack Obama, according to his economic team.
Providing more aid to states, a move to stem further job losses, also has support among lawmakers, The New Republic reported Tuesday. Zandi, noting that the state governments will have a $150 billion budget shortfall in fiscal 2011, has called for $75 billion in federal aid for states.
A federal work-share program backed by Sen. Jack Reed (D-R.I.) and four other Democrats would cost about $600 million.
The total cost of all of those proposals would be $291.6 billion.
Great… Be prepared for more “jobs saved or created” rhetoric and more money sucked out of American’s pockets in order to expand the already increasing national debt! Seriously though, stimulus package number 2… What possibly could go wrong???
What they really need to do can be summed up by Ed Morrissey from Hot Air:
If Congress wants to stimulate the economy, it needs to stop expanding government and incurring massive deficits. That means an end to ObamaCare, cap-and-trade, and Card Check, as well as significant reductions in federal government. That would send positive signals to private capital that they can expect pro-growth policies and predictable tax rates, which would encourage investment and job creation. They don’t need a summit to reach that conclusion — they just need a big dose of common sense.