
The Big Spending Bill & On a Lighter Note…
Big Spending Bill: The final vote on HR 1, the non-stimulating stimulus bill, was 244-188. Amongst Democrats, the vote was 244-11. Not one single Republican voted for the bill. In my 3 years here, I cannot remember a single major vote where all Republicans voted the same way. President Obama wanted a bipartisan vote. But you can’t have a bipartisan vote without a bipartisan bill. And this bill is not even close. It will now go to the Senate where it will pass with some amendments which will likely improve the bill, but increase the cost. Then it will return to the House for a final vote before the President signs it.
I listened to many of the speeches given by supporters of the bill today. I also had the opportunity to question the Director of the Congressional Budget Office on the subject. The tepid arguments and weak rebuttals of the proponents here leads me to believe that perhaps even they know this is not really about stimulus. I can say that maybe 25% of the items in this bill have some multiplier effect, and that’s being generous. But the rest is just spending. Just 2… Read More