McConnell: GOP Backs Stimulus but Not as Drafted by Democrats

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What happened to the proposal Senator Mcconnell had as far as lowering rates to about 4% allowing people with exceptional credit to remodify out of these toxic adjustable rates ??? We the American People who are under financial hardship and nevertheless still made ends meet at least for now are being penalized and are on the verge of losing our homes because they don't appraise to current market ....its not because we didn't put money down initially nor because we missed payments either .
Why doesn't congress enact a bill that the GOP backed by Senator Mcconnell has proposed ??? Why is it falling through the crack .... did the Banks Lobby to have it set aside .... and offer $15000 for new buyers .... Give me a break ....we have to take care of the current and dire issue (the forclosure issue .... and people like myself that are on the verge of forclosure)
Whats the point of putting an incentive for people to buy homes ....when congress doesn't want to help those stay in them ??? Its a shame ...

jr of VA 7:02PM February 05, 2009

"Failure" is the new Republican attack mantra. They had rather see our country go down the tubes than to take a positive approach toward cleaning up their own mess. Listen to that Steele character; he has set the tone....
An Independent

Ewing of FL 10:47PM February 03, 2009

Tax cuts are not a stimulus since they are rarely noticed let alone exploited at tax time. Folks don't get their refund check and rush to a tax cut sale since they use it as regular income. Now providing funds directly to pay unemployment benefits, mortgages, food stamps, school lunches, senior meals, Social Security, a payroll tax holiday, etc... are stimulus plans. Take any combination and create a plan to dump money directly to the people immediately without delay. Those are stimulus plans to get the economy moving!!!

Ray Fisher of NM 6:39PM February 03, 2009

The Republicans need to stand firm for the American people and not let the Democrats or the President rush them into signing into this rediculous pork laden stimulus plan but to hold firm in representing the people, to put more money back into the pockets of the American people so that people will have extra money to spend on their families. What would be nice is a two year tax holiday so businesses can profit from the people purchasing things they really need. I don't understand how the Democrats say we just pay down bills or save it in the bank, the people have real needs for their family. The problem is The Democracts have to much money and they have not come down to earth yet. They cannot relate to the average wage earner. The money should be given to the taxpayers first since it is their taxes and not to the lobbyist or special intrest groups. There is to much waste in this stimilus package and not enough tax relief for the average taxpayer.

Sharon of TX 1:26PM February 03, 2009

Refreshing to hear Sen McConnell. The original Republican stance is to do what is necessary for Government to do...nothing more and nothing less.
I've heard no economist that agrees with this plan in it's current form. If Obama truely means what he says then the Senate Republicans have a duty to stand up and fight this tooth and nail.
By the way, we've been under a "stimulus" plan for the past eight years and that's part of our current deficit problem. There is a huge difference in the Bush "stimulus", responding to terrorism and rebuilding after Katrina are things the Government should do. Obama's "wish list" of spending is completely unnecessary. Trim the fat, save the country.

Chris Petty of GA 11:05AM February 03, 2009

Here, I want you to all see this,
http://www.cnn.com/2009/POLITICS/02/02/gop.stimulus.worries/index.html
That there is an article on CNN.com that lists things off the list..
First thing that crossed my mind as wrong..
- $246 Million tax break for hollywood producers??
What is the point of that? Does our government not have anything else better to spend their money on?
But wait..
-$600 Million to buy hybrid vehicles for federal employees...
JUST WOW
Our government is going to spend $600 Million at a time like this on vehicles for their employees?? you can read the article for more, but I'm already sick of reading it.

Private of OH 9:58AM February 03, 2009

Want to save the US from these types of recessions. The solution is simple. STOP supporting large corporations that are mis-managing companies and stealing what little profits they make in hard times.
No bailout for them, let them go under and force big business to look hard at their top-heavy salary and bonus systems!
T
hen maybe we can get back to what this country was founded on, honest, hardworking people, not corrupt thieves!!!

Ron Ricci of NY 9:46AM February 03, 2009

Tax cuts = moderate short term benefit and lead to long term deficits. Nothing less. The Bush tax cuts produced nothing but more money in the pockets of the wealthy.
Republicans are Limbaugh Lemmings; they want President Obama to "fail."
An Independent

Andy of FL 6:41AM February 03, 2009

the current financial crisis is one of the worst in recent history. Several times, within the last 40 years, several bad fiscal periods have been witnessed. One has to realize that these calamities are not "accidents". They are the result of either incompetence and/or delivered mismanagement by the top financial institutions. One could examine the last few down trends of the economy coupled with the manipulation of the oil prices and will find similarities which are almost unbelievable.
The general outlook is that sometime, somewhere, someone or something will turn this tragedy around. You cannot take away from the super rich and give it to those who have little or nothing. That does not work. However, to give tax breakes to the rich and little or nothing to the working/middle class is just as ridiculous. This is world wide. However, concerning the US it would be in the interest of it's citizens if there was a third party in the House and Senate.Limit the Senators terms to 2. this sould not be the all out solution but it would get rid of the dead wood.
one final thought, if a Government official can get away with not paying or delaying taxes, what can one think of the leaders of the pack?
I personally had great hopes in the New President, however, he is not staying with his promises of honesty in Government. He is a great orator but his actions are questionable.

Walter Weidner 5:34PM February 02, 2009

The stimulus package as it is now is relevant only for bragging rights by the Democrats, but it has no value to our
ailing economy. The Democrats acted too hastily to please Obama, and they filled the stimulus bag with a lot of scraps
that have been correctly ridiculed by Republicans.
First, for any package to work, and work fast because it is needed now, it is necessary to be widely accepted. And if it is widely accepted, it will raise the CONFIDENCE in the financial markets, and bring investors back in. Millions of people are waiting for the market to hit bottom -or to be convinced that a turn around is about to happen - before they flock the market to buy "Low" and sell "High" later. Any stimulus package that does NOT stir up such a confidence will be worthless. Therefore, confidence in the financial markets shall be the cornerstone of any stimulus package.
Tax reduction from 15% to 10% and/or from 10% to 5% is probably
the best idea in the plan since it will leave more money to those who can barely afford to improve their basic life. For example, there is a 10% tax reduction for unemployment benefits.
Reducing that to 5% will leave more available to recipients to spend. And the economy will no be lifted by those raking billion in bonuses at the Wall Street firms- they spend the maximum, but by the ordinary people who barely make ends meet. The economy, therefore, will not recover unless the low earners and the middle class become confident, and has more money available for spending.
I have heard the arguments that low wages earners don't pay taxes, etc.. They do. Single people who make $ 800 a month have have to pay taxes at filing time, and that includes many retirees. And those people need a tax break to keep more, and probably enter the housing market again by combining their wages with other family members. There will be NO recovery in the economy until the real estate market bottoms out and turns around, and until the average American has more money to spend, as well as afford medical coverage that will start rising again as soon as the markets start breathing normally.
It is my personal opinion that there should NOT be any money allocated to education, because the money is usually wasted in a shameless way in bonuses to top brass, perks, and 1/2 million pensions - but not on the students. Money for education is, therefore, wasted in the same fashion as Wall Street billions are wasted to top executives. The students and the investors are always the victims - not the beneficiaries.
I am not a Republican, but at this time the Republicans seem to fight for substance, while the Democrats seem to fight for bragging rights. And the American public doesn't need big rhetoric and headlines about quick action now that will change nothing but just make a big hole in the U.S. budget deficit.
We need something to start the economy moving. And tax reduction
should be in the first place. Nikos Retsos, retired professor

Nikos Retsos of IL 5:12PM February 02, 2009