Stimulus Bill Watered Down
The Stimulus Bill that was passed and has been reconciled in joint House and Senate committees is a far cry from the original bill that was touted during the lame duck time of GW Bush during the transition. The Bill that has surfaced and is awaiting President Obama's signature on February 16, 2009, includes many Republican ideas dealing with tax credits. The Democrats acquiesced to the Republicans in hopes of getting bi-partisan support including tax cuts that are valued at 42% of the total bill's expenditures. Other industrial countries that find themselves besieged by the same situation have decided to spend upwards of 20% of their GDP to stimulate their economies, while the US Bill barely approaches 2% in expenditures and almost 2% in tax cuts. Why would President Obama and the Democratic House and Senate allow the Republicans to dictate the details of the bill? Their old tired ideas of tax cuts for the rich trickling down to stimulate ye economy have already been proven to...