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Archive for January 1st, 2009

Jan 01 2009

Obama, Pelosi to Discuss Scope of Economic Package

I can’t believe me and a republican are going to be on the same page, but when it comes to creating trillions of dollars out of thin air, I’m not a fan and neither are conservative Democrats and Republicans.

Rightfully so, causing the dollar to hype-inflate is hardly the answer to our economic problems. This “stimulus package” doesn’t need to be passed in much the same way the initial “bailout plan” was rejected. From the Washington Post:

Sources said Obama and Pelosi will discuss the scope and timing of the economic recovery package, which Obama has said will be his first priority upon being sworn into office. Pelosi has said her goal is to have the legislation on the new president’s desk and ready to be signed on Jan. 20.

But that schedule appears increasingly likely to slip, as Republicans and conservative Democrats are raising concerns about the impact on the federal deficit of spending hundreds of billions on an array of projects with little vetting by Congress. Lawmakers now expect a spending package of between $675 billion and $775 billion.

And a top congressional aide said yesterday that Democratic leaders in the House are still waiting for a detailed proposal to be delivered by Obama’s economic advisers before lawmakers can begin the process of turning it into legislation.

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