by Mark Silva
President Barack Obama, lacking much apparent Republican support for the $825 billion economic stimulus plan that the House will take up today and most likely approve, will take his case to the public with a late-morning address from the White House.
It's likely that the president will secure some form of the stimulus that he is seeking, with moderate Republicans in the Senate showing more signs of working with Democratic leaders on a plan there - suggesting that the conference bill that ultimately passes both chambers will pick up some more bipartisan traction in the House as well.
With Democrats holding a comfortable majority and expected to fall in line behind their party's president, they can pass the costly measure through the House today without Republican support. Yet Obama, who traveled to Capitol Hill this week to meet exclusively with Republicans, is attempting to lay the groundwork for negotiations over not only this plan but also tougher economic measures that Congress is likely to face.
House Minority Leader John Boehner (R-Ohio), appearing on ABC News' Good Morning America today, complains that the stimulus plan is laden with new government spending - and borrowing to support it - spending that "has nothing to do with creating jobs or preserving jobs...''
Yet, while Republicans press for more tax relief in the package, Boehner concedes that, "We're for more than just cutting taxes.''
"Where we have differences with the House Democrats,'' Senate Minority Leader Mitch McConnell(R-Ky.) told CNN, "is that the package just doesn't seem to reflect our priorities, nor the president's."
The share of tax cuts in proportion to new spending pushed by Democrats has been "crammed down" to about 20 percent of the total, he said - half what both Republicans and Obama had been willing to talk about, he said.
Obama is taking up his case with business CEOs to discuss this morning, and will surely draw strong television news coverage of his 11:15 am EST remarks.
Comments
Get on board, all right thinking Americans, if you don't want to be in soup lines in another year !! It is unfortunate that President Obama must spend his first year or two, cleaning up the messes of his predecessor's administrations and the Republican Party !! It is no secret, that it was their incompetence and malfeasance, that contributed greatly to this huge mess, not to mention the Republican " Rubber Stamp " majority, in Congress, that he abused for 6 of his 8 years !! No, boys and girls, make no mistake about it, George Bush's blunders will be keeping President Obama busy for the next several years. The only good thing about all of these messes, George Bush, left behind, is, that it allows President Obama to implement his vision, a lot easier, such as healthcare, better schools, a more sensible foreign policy and, the icying on the cake, better government !!
Thanks, America, we really needed that !!
SUPPORT OUR TROOPS, BRING THEM HOME, ALIVE AND WHOLE. NOW.
Posted by: Don Fitzgerald, Chicago | January 28, 2009 10:04 AM
Sure his plan will fill the pork barrels and the voters will end up with "SALT PORK".
Posted by: Inky | January 28, 2009 10:14 AM
And I'm sure it will be better than anything W would have done.
But what about the big hemorraghing war for OIL?
Let's END IT!
http://www.michaelmoore.com/words/latestnews/index.php?id=13259
Posted by: OUT OF IRAQ! OUT OF AFGHAN! BEST ECONOMIC POLICY EVER! | January 28, 2009 10:34 AM
Obama bought his political Oracle with him to Washington. The Political Parlor Game is owned by Obama - he is masterfully managing Congress. .........
http://thefiresidepost.com/2009/01/28/political-parlor-games-and-obamas-oracle/
Posted by: Ohg Rea Tone | January 28, 2009 10:59 AM
The current Economic Stimulus Package should include a provision that makes it mandatory that all mortgage lenders offer their loans-in-crisis the opportunity to refinance into a fixed 50-year loan at 4-5% interest. The idea is that simple. “The Long-term Mortgage Solution”, does not cost billions of dollars and addresses the problem that began the economic snowball’s descent down the hill in the first place. This will save the average person about to lose their home approximately $600 - $1200 per month in mortgage payments. All past due payments and fees should be rolled into the new loan with no closing costs attached. A similar plan can be mapped out for commercial loans. There should be an additional option for these loans to be refinanced after a period of ten years to a fixed 30-year product at market rates.
1) This will allow many homeowners to keep their homes and get back on track.
2) It gives the housing market the opportunity to rebound, which really means that at some point in the near future people will no longer be upside down in their mortgages. It is this upside-down phenomenon, loans being significantly more than their homes are now worth, that is fueling the trend towards foreclosure.
3) It will have a positive affect on financial markets and institutions dealing in derivatives (e.g. AIG) and on real estate laden mutual funds. It is even possible that the negative impact felt by world markets investing in these financial vehicles can be softened.
Posted by: ANDRE MORROW | January 28, 2009 12:19 PM
TIme will tell.
Posted by: Golf Equipment | January 28, 2009 1:28 PM
I am so sick of seeing and hearing the batsh*t insane House Republicans all over the corporate media and the political tv shows crying about how Obama and the Dems won't do what they want in regards to the stimulas bill. They want to do the exact same crap (big surprise) that BushCo did for the last eight years while they were destroying our economy.
House Republicans are a VERY small minority for a good reason, people recognized that they couldn't find their arse with both hands and they voted them out of office. The one's that still remain in office are the craziest of the crazy right-wing lunatic fringe and that's only because they come from Wingnut infested red districts.
Posted by: Hey Joe | January 28, 2009 2:09 PM
When Joe Biden or Barack O'Perfect claim that "every" economist is for their so-called "stimulus" package, don't believe them.
In today's news the Swamp will keep from you, 200 economists have come out against the Obama/Dem so-called "stimulus" bill, slamming it for much pork, but little stimulus. See http://www.cato-at-liberty.org/2009/01/28/economists-against-the-stimulus/ for the story David Axelrod and the Swamp journalists (does the one differ from the other?) will keep from you.
Posted by: "Dissent is Patriotic" | January 28, 2009 2:48 PM
Don Fitzgerald...your idiotic posts are getting more idiotic.
Oh yes...let's all remember how the democrats rallied against wasteful spending when the Republicans had that "rubber stamp" in Congress, ummm...didn't happen.
And let's remember how President Bush tried to reform Fannie and Freddie from late 2002 through 2007, but Dodd and Frank called the idea "inane."
The real "blunder" was called democrats!
Nice try Don.
Paulo
Posted by: Paulo | January 28, 2009 3:21 PM
You can dig all you want, but there is no pony hiding under the Democrat's stimulus manure pile. There is no pony hiding in the stimulus "pile of manure"
Posted by: The Intellectual Redneck | January 28, 2009 3:32 PM
When Joe Biden or Barack O'Perfect claim that "every" economist is for their so-called "stimulus" package, don't believe them.
In today's news the Swamp will keep from you, 200 economists have come out against the Obama/Dem so-called "stimulus" bill, slamming it for much pork, but little stimulus
Posted by: "Dissent is Patriotic" | January 28, 2009 2:48 PM
Bruce,
Trickledown Reaganomics has proven to be a stinking pile of failure and your hero, Alan Greenspan, finally admitted as much in open Senate hearings.
Get over it, you're the miniority party now because your idea's and ideology have failed in a spectacular fashion for eight straight years.
Posted by: allardice | January 28, 2009 4:06 PM
[quote]
And let's remember how President Bush tried to reform Fannie and Freddie from late 2002 through 2007, but Dodd and Frank called the idea "inane."
Posted by: Paulo | January 28, 2009 3:21 PM
[/quote]
And since the Republicans controlled the House, the Senate and the White House from 2002 until November 2006, why couldn't they pass any reform measures during those 4 1/2 years? How did Frank and Dodd, from the minority party, stop them cold?
Posted by: BC | January 28, 2009 10:25 PM