Earlier today, the GOP indicated that they are not on board with the Democrats’ proposal for a second economic stimulus package. There’s no surprise there.
Rep. John Boehner (R-OH), the top ranking Republican in the House, wrote a letter to Rep. Nancy Pelosi (D-CA) calling the proposal:
an irresponsible, business-as-usual approach that has earned this Congress the lowest approval ratings ever recorded.
Harsh. But here’s my take: the proposal, as currently being touted, is, in fact, irresponsible. And I sincerely hope that Pelosi takes that to heart.
That said, the idea that Boehner is trying to pin the current low approval ratings on the Democrats is laughable: everyone had a hand in this nonsense.
Handing out small checks and increasing Medicaid programs will not stimulate the economy. If that’s the purpose of this package – and you’d think so, since they’re calling it an economic stimulus package – then the Democrats are way off base. And despite the fact that Pelosi says her package will “provide relief for the middle class, to encourage consumer confidence and to have regulatory reform by re-writing the rules for financial institutions,” there’s no real relief proposed for the middle class.
What does the GOP propose instead? The usual suspects. Some of the ideas floated by the GOP are:
- Allowing offshore oil drilling.
- Cutting taxes for US corporations with foreign subsidiaries;
- Expanding capital gains relief on the sale of homes; and
- Eliminating capital gains on stock purchases for the next two years.
Jeez. Can’t either party get this right?
Middle class. Two words. Don’t forget about them.