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2/11/2009
Ryan says 'stimulus plan' is a catastrophe
I could hear the angst and almost disgust in Rep. Paul Ryan’s voice. Angst, but also wheels spinning, with as much going on in this young man’s head as was apparently going on around him. At two points in a pretty intimate teleconference (3 of us participated), he seemed to literally stick his head into the hall and holler to staff to see how this vote or that was going.
You can imagine what he said about the stimulus plan. Again. Frustration, coming up to almost disgust. - “This kind of stimulus just doesn’t work.”
- “Every one of these ideas has been rejected…. More than half of [tax policy] is cash payments to non-tax paying households.”
- “Pelosi and her allies threw everything into the bill, all in the name of “stimulus.”
- “The rhetoric of this week is wrong.” [This bill] is a “catastrophe.”
- “Reject this bill and start over.”
Rep. Ryan warned in no uncertain terms that “this bill” will not only not help the U.S. economy, but will do more harm to the economy, harm that we will not, as a country, be able to undo. To shore up his point, Ryan was specific. The ‘stimulus plan,’ in whatever form, will, most certainly: - Increase borrowing costs
- Court inflation and increase interest rates
- Result in higher taxes – very soon
It’s not pretty.
I think it’s Rep. Ryan I’ve heard repeatedly calling for Republicans to offer “propositions not opposition.” And he’s got it in his Fast Acting Tax Policyhttp://republicanleader.house.gov/News/DocumentSingle.aspx?DocumentID=104909 that Ryan says Christina Romer’s (Obama’s Chair, Council of Economic Advisers) analysis shows results in twice the amount of jobs for half the cost. Imagine that. Imagine.
Ryan is a believer in the ‘bad bank” concept and tried to explain it in a number of ways, clearly having a grasp of the subject. He decried the Treasury Department sticking its head any further than it already is into America’s mortgage businesses.
Proposition, not opposition. Study Ryan’s Roadmap for America. And that Fast Acting Tax Policy. He’s done the work, knows his stuff.
Jo Egelhoff, FoxPolitics.net
COMMENTS
Let's see if I remember this correctly. Didn't Ryan vote for the $780 billion taxpayer giveaway to the pharmaceutical industry called Medicare D? And didn't he vote for the first Paulson bailout?
Jack Lohman (Wed Feb 11 15:39:57 2009)
Hey didn't this guy vote for the banksters' bailout?
Hey, someone else already referred to that.... Imagine, Jack and I on the same side for once!!!!
LOL
Where the HE>>>CK have the Republicans been the last 8 yrs, and why does it take a Democrat majority to get them to do the right thing?
Ken Van Doren (Wed Feb 11 23:02:19 2009)
He can support the right thing today, Ken, because he knows it will not pass and he won't have to answer to the special interests that also don't want it to pass. Ryan is good at the game.
Jack Lohman (Thu Feb 12 02:16:01 2009)
Yes, Ryan supported the TARP because he saw the absolute necessity of saving the banking system. Yes, implementation could and absolutely should have been wiser. Ryan explains his support knowledgeably and credibly.
Jo
Should ther be banks? I would agree. SHOuld they have the power to counterfeit money? NO WAY IN H>>>> It is the boom/bust cycle that is CAUSED by fractional reserve banking that is responsible for the economic debacle we find ourselves in. Until the system implodes, it helps concentrate power and wealth in the hands of the money manipulators. I recommend a strong does of Mises, Hayek, Hazlitt, and even Ron Paul, and call me in the morning.
Since 1913, our dollar has lost over 95% of its purchasing power.
RE: our current banking system, it is corrupt, rotten to the core, and the sooner it is allowed to crash (which is likely in any event) the sooner we can rebuild our economy on a sound basis. Paper money ALWAYS end up worthless, ALWAYS is a tool of government and its favored interests to steal the wealth of the productive.
END THE FED!!!
http://www.campaignforliberty.com/blog.php?view=9619
Ken Van Doren (Thu Feb 12 20:29:06 2009)
Interesting that Ryan was so thoughtful, Jo. This from www.OpenSecrets.org
TARP Recipients Paid Out $114 Million for Politicking Last Year
The companies that have been awarded taxpayers' money from Congress's bailout bill spent $77 million on lobbying last year and $37 million on federal campaign contributions toward the 2008 election, CRP has found. The companies' political activities have, in part, yielded them $295.2 billion from the federal government's Troubled Asset Relief Program (TARP), for an extraordinary return of 258,449 percent. And some of the top recipients of contributions from companies receiving TARP money are the same members of Congress who chair committees charged with regulating the financial sector and overseeing the effectiveness of this unprecedented government program.
Jack Lohman (Fri Feb 13 08:24:58 2009)
My last comment should demonstrate one thing, Jo, and that's that the entire political system has been corrupted by campaign cash. Bribes, in everyday language. But you can see how it has affected Ryan here. His contributions are above the average in the house. He's gotten his share from the bankers, Blue Cross and the insurance industry, so we certainly can't expect him to support a reasonable healthcare fix.
Jack Lohman (Sat Feb 14 11:04:35 2009)
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