Aside from political posturing, which undoubtedly exists even in the urgency of our economic crisis, the fight over the stimulus/recovery package contains the essence of the difference in Democrats' and Republicans' economic views.
Republicans are fighting to make Bush's tax cuts permanent and for further tax cuts for business; Democtrats rely on more government spending in the form of investment that will both create jobs and build necessary public works projects with long-term benefits to society.
Republicans favor business and the upper crusts; Democrats favor benefits to enhance the middle class and services for the poor. Trickle down vs trickle up economics. I'm for the latter.
Democrats have the votes to pass the legislation they want and a president who will sign it. But they also want it to be bipartisan -- because it will make it more easily accepted by the public and because there will be shared "blame" if it falls short of desired results. In that sense, it is ultimately about politics more than ideology, perhaps.
Obama has already compromised some -- more money for tax cuts than he wanted. Republicans are demanding more in order to support the bill. I want Obama to stand firm and compromise no further. The urgency of now is as good a time as any to assert the power we gave him in the election.
Economists say that, in our current economy, spending will be more effective than tax cuts. What will work is more important than feel-good bipartisanship. And as for blame, don't let that worry lead us to less effective solutions.
Ralph
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Liberal Democratic Congressman Henry Waxman, of Judiciary hearings fame, had this to say on the subject:
ReplyDelete"Republicans haven't quite made the adjustment to their minority status."
Deftly put hammer of truth.