Congress Should Work Every Day (NO DAYS OFF) Until It Passes Anti-Recession Plan
After the Martin Luther King observance on Monday, Congressional leaders should call the House and Senate back, with no days off, until they negotiate and maneuver an economic stimulus plan for the nation. The situation could worsen even more in the weeks ahead. The Fed chief and the Treasury Secretary have been extremely tepid and inconsistent on the state of the economy. It is now up to Congress to get this done.
I’m concerned that without a sense of real urgency, the downward spiral will continue as Americans start to believe that their central government is incapable of dealing with crisis. This speaks to the issue of government competence.
I don’t know about you, but it seems like it is business as usual in the lobby-infested Capitol. The President finally admitted that we may have a problem and has vowed to work rapidly with the Congress to get a stimulus plan into action. Most economists thing it is already too late.
My point is: The Congress must work continuously for the people to make sure every move is made to keep the economy on track before a recession sets in.
We send these people to Washington to take care of business. And they should be working overtime to get this done.
There is nothing more important than the economic health of the nation. Jobs, opportunity, the threat of more mortgage foreclosures, are all at risk.
Comments(10)
I believe we are already in recession.Everything is going up,gas heating oil,and has anyone noticed the price of food? My husband and I are retired,therefore we are on a fixed income,we have to be extremely careful what we purchase and we have to keep our home cool,as we have electric heat,We are raising our 6 year old grandaughter and her needs must come first. I agree that congress must act now.Thanks for your continued support of the people.Washington clearly doesn’t see or hear us.
A “recession” has nothing to do with prices of anything going up. So I don’t know how the previous poster could say we are in a “recession” because things cost more. Unrelated.
And it can’t be because you aren’t making as much money, because you said you are on a fixed income.
A recession is two consecutive quarters of negative economic growth, which we have not had at this point. There’s no denying it may be coming. But you can’t say it because it’s not true.
I’d be wary of anything the Democrats in Congress try to do – they will just end up giving tax breaks or free money to people who don’t pay any taxes anyway. And more wasteful boondoggles.
The fact is that the economy just can’t keep going up, up, up all the time. There are times when it slows down. There always have been. And Congress has never been able to stop it. It’s called the “business cycle”.
You just have be prepared for it personally – prepare during the good times instead of spending every last cent you make (plus cents that you haven’t made yet).
I’ve just never understood the mentality of putting all your hopes, dreams, and aspirations in the hands of GOVERNMENT. It’s a sure path to Loserville.
Americans may start to believe that the central government is incapable of dealing with crisis because the central government IS incapable of dealing with crisis. As the earlier post stated, this is part of the economic cycle. The government should generally let it ride unless we have a severe problem or conditions are external to the normal business cycles ( manipulators, cheaters). The government should have been regulating the runaway greed that preceded this with credit give-aways to people who couldn’t pay the money they were borrowing. It highlights the need that this country has for a massive renovation of the educational system. Far too many people need to learn basic economics and realize that other than protecting us from economic cheaters, the government has a limited place in the market.
I never thought I would agree with Conservatives but I do think I see their point against trying to spur the economy by giving out money. If the goal is to get people spending the money by increasing retail sales, what do we accomplish? If I go out and use my $800 to buy a new TV, a little of it stays in the US as wages to the salesman and some profit to the retail store. But the bulk goes back to China where the TV was built, increasing the trade deficit. Since the US Treasury has given out money it doesn’t have, the deficit gets bigger, which is then financed by borrowing back money from China, essentially the same money that the Fed gave us to buy Chinese goods. So we wind up owing the Chinese more in the end and more US wealth leaves the country.
I prefer the idea that John Edwards is promoting, use the money to help build an inductry which will employ people and create wealth in the long run. If you helped finance something like building and setting up more windmills to generate electricity, say in Texas, Minn, California and Iowa (the top 4 wind electricity generation states), you spur the building of more windmill factories (there are several new ones in the Midwest), hire people and cut the amount of oil you import and burn. The new workers spend the money they earn for housing, food, some retail goods. The money spent stays in the US and most eventually returns to the Treasury in taxes over the long run.
hello Larry,Hillary just took nevada and looks to be running a very strong campaign.
i am sure all the Hillary haters are dazed and confused and may not come out of there rightwing depression any time soon.
thanks larry.
Sorry jack… we on the “rightwing” are happy you on the “leftwing” are going with Billary. She’s a much easier target in November than Barack Hussein Obama.
Just as she has found, it’s difficult to even criticize St. Obama without someone calling you “racist”.
sorry joe,the rightwingers are going to have a loooong 8 years,but look on the bright side you had 7 ‘great’ years with bush.
so keep on hating Hillary if it makes you fill better,it shows how much character the rightwingers have.
Joe,
How goes the handicapping on the R side?
Be sure to include their middle names.
Larry -
Do you really think that forcing Congress to work with no days off (until they pass a stimulas plan) will prevent a recession?
There are some things that government cannot do, and sometimes the direction of the economy is determined by market forces behind their control.
Recessions happen. They are a part of an economic cycle.
It’s true recessions happen and are often necessary to correct excesses, but it would be better to have a shallow recesion like after 9/11 rather than a deep one a.k.a depression. The sybolism of Congress working non stop to come together to offer a stimulus packake would be great symbolism that somthing was being done, and could greatly help consumer sentiment, which is half the battle toward averting a deep recession. Good suggestion Larry!