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Sunday, May 1, 2016

One stimulus bill after another

Friday, August 13, 2010

As I've traveled the Third District, I've had the chance to meet with hundreds of Nebraskans. They are concerned about our economy and the ever increasing intrusion by the government into our lives. They are frustrated Congress continues to pass one stimulus bill after another without actually improving our economy.

Our nation's unemployment rate remains nearly 10 percent -- and would be much higher if the official calculations took into account the growing number of Americans who have become so discouraged they have given up looking for work. Home foreclosures are rising, as lenders repossessed 92,858 properties last month, up nine percent from June and an increase of six percent from July 2009. The U.S. government paid nearly $20 billion in interest on our nation's $13 trillion debt last month, a debt which continues to rise every single day.

Congress has the responsibility to find ways to get Americans back to work, stabilize our economy, and put our fiscal house in order. Unfortunately, Democrats in the House recently did the same thing they've done a number of times before -- pushed through another stimulus bill which will do nothing to reduce the unemployment rate in this country and will, in fact, hurt job creation through increased taxes on American companies.

The bill, H.R. 1586, contains a total of $26.1 billion in short-term state bailouts paid for with permanent tax increases. It provides $10 billion for a state education bailout which can only be used to pay teacher salaries. In order to receive the education money, states would be prohibited from reducing their education budgets below 2009 levels and the federal money could not be used to reduce states' debt. In other words, the bill doesn't just shield states from making tough budget choices; it actually forbids them from doing so. This is particularly problematic for Nebraska, which set its 2010 education budget in 2009. Under this new law, Nebraska would have to add another $30 million to its $750 million state deficit to receive its share of the education bailout. Either way, Nebraska taxpayers will ultimately pay for the bailout, regardless of eligibility.

The bill's temporary spending is partially offset by $9.6 billion in permanent tax increases on U.S. multinational companies. These tax increases already have been used by Democrats at least three other times as offsets for other spending bills and could risk jobs and put American companies at a competitive disadvantage during a recession.

The National Association of Manufacturers has criticized this approach, stating "imposing $9.6 billion in tax increases on these companies...will jeopardize the jobs of American manufacturing employees and stifle our fragile economy." The U.S. Chamber of Commerce also warned this bill will "impose draconian tax increases on American worldwide companies that would hinder job creation, decrease the competitiveness of American businesses, and deter economic growth."

Several other business groups, representing tens of millions of employees, also have expressed their opposition to this misguided legislation noting it will jeopardize jobs, discourage investment, and thwart economic recovery.

The claims this bill is fully paid for ring hollow and amount to a Washington-style shell game. The bill claims to save billions through cuts to food stamp benefits, cuts which will no doubt be rescinded before their scheduled enactment nearly five years from now.

The American people know we can't tax, borrow, spend, or bail our way back to a growing economy. They are seeing the results of failed policies and are desperately looking for a new direction.

Congress cannot continue to deny its responsibility for fiscal discipline and pass stimulus bill after stimulus bill and expect different results. Another multi-billion dollar federal bailout only sets a dangerous precedent of expanding the role of the federal government in local schools and diminishing the role of parents, teachers, and local communities.

The more we increase taxes on American job creators, the longer our nation's economy will continue to struggle. It's time to stop raising taxes, encourage investment, and put our trust not in public sector programs, but in private sector job creators.

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Democrats just never seem to get the fact that corporations do not pay taxes. They pass any taxes on to the consumer in the form of higher prices. We already have the second highest tax rate on corporations in the world so adding taxes only hurts the consumer in the end.

Fact is the government does not create jobs and the Obama economic policies are a dismal failure. Of course we will hear the usual chorus of blame Bush it's all his fault but at what point does Obama eventually take the responsibility? It's a year and a half into his term and his policies have not lived up to what was promised.

-- Posted by Chaco1 on Fri, Aug 13, 2010, at 9:37 PM

I support isolationalism...as a Country as well as at the State level. I am not saying we should alienate ourselves from the rest of the world, but rather, put an end to all of the support and aide (with hidden corporate agendas). Pull our military home and put them on the borders. Beef up our National Gaurd. Utilize the Military to aide in cities and counties that cannot afford a proper sized police force. Utilize our Military in the war on gang's and gang violence, and emergency response. Our country needs to look inward and start protecting itself from the inside out.

Everyone knows there is a lot more to war than "Democracy". There are many many hidden demons that are taken into account when our government makes decisions. Decisions unfortunately made by "big money" and the interests of those controlling it.

It's not about "democrats" and "republicans". It's about who can offer the most un-traceable money.

The Federal government needs to be downsized, and the american tax dollars need to be reallocated to the state level. Let each individual state determine their own fate. The Federal government was created to Aide the States...not to control and govern every decision.

It's all about "big city" politics. With this I mean, all politicians base their decisions on areas with the most population. Make the voters happy in those areas and win elections. Who cares about the rest of the country.

-- Posted by cplcac on Sat, Aug 14, 2010, at 1:40 AM

There was a time that Isolationism was the popular policy for the Us. It was arouind 1939 or so and brought us such wonderful things as Nazi Germany and Imperial Japan. History shows us the folly of that kind of thinking. We also have a law that procludes the military from beiong used for dopmestioc police work and for good reason. Do we want to be like the banana repu;lics and former eastern block countries where the military walks around with automatic weapons and asks for our papers?

I agree that I would like to see a return to more state controll. recently a federal judge overturned the will of millions of Californians and their supreme court.

-- Posted by Chaco1 on Sat, Aug 14, 2010, at 9:21 AM

Could you next article possibly include any solutions? Anything going on up there? You continue to give us the same ole same ole. How about ideas that are unique?

-- Posted by hulapopper on Sun, Aug 15, 2010, at 6:25 AM

One wonders if Chaco1 was as exercised when the SCOTUS overturned the "will of voters"in the cases of the Chicago and Washington DC handgun bans?If he'd read the judges decision in the case which has aroused his ire he'd maybe have noted that it was rendered on strict constitutional grounds.

I'm not sure about the return to state control either thinking we might well get back to the days of miscegenation laws and Orville Faubus and George Wallace standing in schoolhouse doorways to enforce state laws regarding separate but equal.Apparently Chaco1 has forgotten that state Supreme courts are subordinate to the Federal appeals courts and the SCOTUS by provision of that same constitution.

-- Posted by davis_x_machina on Mon, Aug 16, 2010, at 9:09 AM

There is a big difference between a gay judge making up law and the Supreme court ruling on a plainly spelled out right as in the second amendment. Gay marrirage is hardly a federal issue and not enumerated in the constitution. Each state should be allowed to decide their own fate on all thing not enumerated. Apples and oranges.

-- Posted by Chaco1 on Mon, Aug 16, 2010, at 9:24 AM

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U.S. Rep. Adrian Smith
Washington Report