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January 24, 2008

Help Make Sure Congress Passes A Good Stimulus Bill

Posted in: Styrofoam

Now that Congress has collectively had a metaphorical two-by-four applied upside the head and realizes that the economy is in deep trouble there’s movement to get a stimulus plan passed, and fast. As we all know, when this particular Congress does things, one often winds up wishing they just had stayed home. So MoveOn has a push on to contact Congressmembers and ask them to put together a good bill that isn’t a pork laden giveaway that does little for the economy or those who need help.

What’s a good bill? A good bill is one that does three things.

  • It gets relief to people who need it. This means people who are poor. Tax rebates suck at this because people who owe taxes are obviously getting money. Sure they might want some more, but they don’t need it. A good relief program will target people who are laid off with an extension of unemployment benefits, it will make sure that States don’t have to cut back on relief by helping their relief budgets; it will target people like returning National Guardsmen who we know are in financial difficulty, and it will spend money on things like food stamps that get to people in need.
  • It helps restructure the economy in ways that fix whatever’s wrong with it. There’s a lot wrong with the US economy, but the MoveOn idea of starting a Clean Energy Corps and investing in green energy to reduce energy costs is a good idea. The US needs to move off oil as much as possible, might as well start now.
  • It helps the economy by creating a stimulus. Stimulus is only created if people spend. That means that tax cuts for the rich, who tend to take any extra money they have and save it or invest it is a lousy stimulus. Money should be aimed near the bottom of the pyramid, at people who need to buy stuff, now. Again the best way to do this is not with tax cuts, even for the middle class, but by directly sending money to folks who are poor and desperately need cash.

There’s real danger that Congress will use the opportunity to pass a stimulus bill as a chance to get through lots of pork that won’t provide relief, restructuring or stimulus, or that will take too long to take effect. Republicans in particular would love to make Bush’s tax cuts for the rich permanent (because when you have a hammer, every problem looks like a nail.)

You can help by signing MoveOn’s online petition, or by calling Congress yourself and talking to your Congressperson. The Capitol switchboard number is 202-224-3121 .

This stimulus plan matters. It could be the difference between whether the US has an absolutely horrible double-dip recession, or a relatively mild one. As importantly it could be the difference between whether people go without food, shelter or heat or whether their most basic needs are met.

Please sign the petition, or call.

 Update: Unfortunately Nancy Pelosi has already caved on this and said that there will be no extension of benefits and there won’t be more food stamps.  Given that the Republican controlled Congress of 2001 extended benefits, this is amazing.  Nonetheless enough outrage may swing things, so please call.

Related posts:

  1. Eric Cantor Says Stimulus Bill Failed, Except That Whole Creating Jobs in His Home State Part
  2. Fox News Slags Stimulus Bill for Being Too Republican
  3. Biden to Smack Boehner Around on Stimulus
  4. Warren Buffett: Economy Needs Another Stimulus to Get It Up
  5. NYT Can’t Recall that Republicans Who Demand “Where Are the Jobs?” All Voted Against the Stimulus

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