Obama and Carter and the economy

Posted in Uncategorized at 10:01 am by wcnews

Living in Williamson County and being a Democrat oftentimes feels like living in the twilight zone. Whether it’s locking up mothers and their children, Lipstick on a Doberman, unaccountable government, tone deaf elected officials, or unconstitutional actions by same, each day can be an adventure. But when looking at this list of how things have changed in America, especially economically, over the lat 8 years and then reading Congressman John Carter (R-Round Rock) talk about the economy…well it’s time to cue the music.

Carter was recently interviewed by the Temple Daily Telegram, A chat with Carter. When asked questions about Presedent-elect Barack Obama’s economic proposal he had this to say.

Telegram: When is the minority party going to be able to see the Economic Stimulus Package plan?

When the majority decides to give it to us. The majority decides when the minority finds out about it. I would hope that they would give us at least 24 hours to look over $700 billion worth of spending but you never know. I think (President-elect Barack) Obama has a good conscience of spending. He’s clearly reached out to us … we are excited about him reaching out. And he’s said to us that he wants to participate and he’s put it on his Web site what his ideas are. So he’s doing his best to be fair with us. The problem is whether the House leadership is going to be effective.

Telegram: How do you feel about the new administration? How well do you think the GOP will work with Obama?

I think that we will be a loyal opposition. And we will support those things that we think make good sense. For instance, I think he is going to get full support from every Republican on these tax cuts he is proposing.

Of course, we are the party that believes that less taxes makes for a better economy, and they (Democrats) have a track record of more taxes. As we look down the road to the end of 2010 we need to be thinking about the already-in-place tax cuts. If they let those all come back, then we’re right back in the dark because we have taxes that are going to be bringing down our economy. But we’re not there yet - so I trust the future president is going to do this to completion and we are going to have some things to be very supportive about.

Telegram: Is there any immediate action you would like to see the new administration take?

I think economists across the board acknowledge that when you’re moving towards a deep recession raising taxes is the worst possible thing that you can do. I think that the president-elect, Obama, has also seen that and made the determination that this package is going to have tax cuts in it.

But the real issue is that the American taxpayers should be able to have some comfort that there is permanence in the tax cuts he gives.

And there is still much conversation in Congress about reinstating the Bush tax cuts. So, insecurity leads to part of the distrust of the economy that is in the minds of the people that are in the economy - they get frightened. So, some permanence in the tax policy and continuing to have low taxes will help us get out of this recession. We’ve had other things that we have to do, but I think the American people would like some permanence in their tax policy.

(Emphasis added).

There’s nothing new in this, which is the most bizarre part of it. And it’s obvious Carter hasn’t paid much attention to the economy and the effect his party’s tax cuts have had on it. In 2001 with the economy humming along, and in surplus, Bush and the GOP gave huge tax cuts to the wealthy and, to use Carter’s words, “we’re right back in the dark”. But tax cuts are the only answer a right wing Republican has for any economic problem.

There’s some great commentary and discussion going on about what the stimulus should entail, along with whether or not, or how much GOP support Obama needs for such his plan. See McBlogger, this DDay post McB recommends, and Krugman to get started. But as far as EOW is concerned if Republicans like Carter are voting for Obama’s plan it’s probably not going to be a plan that is what our economy needs right now.

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