Senate Minority Leader Mitch McConnell, the most powerful conservative Republican in Washington, has said he intends to delay Obama's proposed economic stimulus legislation of $1 trillion in spending and tax cuts by demanding that the Democratically controlled Senate hold lengthy committee hearings. McConnell has the ability to use his 41 Republican Senator cloture vote filibuster to block Obama's legislation, should Democrats not acquiesce to his stall tactics.It was only with the passage of New Deal efforts--the SEC, the FDIC, the FSLIC--that the mechanisms of private capital began to kick back into gear. Don't take it from me. Take it from Federal Reserve Chairman Ben Bernanke, who wrote the following in [his book] Essays on the Great Depression, "Only with the New Deal's rehabilitation of the financial system in 1933-35 did the economy begin its slow emergence from the Great Depression."...
The argument that the New Deal's efforts "perhaps had prolonged, the Depression," is a canard. One would be very hard-pressed to find a serious professional historian--I mean a serious historian, not a think-tank wanker, not an economist, not a journalist--who believes that the New Deal prolonged the Depression.
Conservatives in the RNC are also working to exert their influence against Obama's new New Deal with a resolution circulated during the last week of December: (PDF of the resolution.)
The Republicans have begun their national introspection over the real causes of their electoral wipe out on Nov. 4, with party "leaders" debating how far right - or left - the party needs to go to regain respectable, if not winning, status. Perhaps the fastest path to respectability is for Republicans to accept responsibility for the current economic problems and join Obama in a true bipartisan venture to rebuild America.
Related Links:
- To Conservatives, Obama's Advisers Are Alarmingly Liberal
- Reconstituting Conservative Ideology As Good Governance
- Laissez-Faire Capitalism Should Be as Dead as Soviet Communism
- A Stake In The Heart Of The Center-Right Hype
- Obama Talks Bipartisan Unity As Republicans Prepare To Bash And Obstruct
- Bush Admin Hamstrung by Conservative "Trickle-Down" Ideology
- The Right Banks On Collective Short-Term Memory Loss for 2012
- Where'd the bailout money go? Shhhh, it's a secret
- GOP Blind Faith In Unregulated Markets Stoked Economic Crisis
- Federal Data Disproves Conservative Spin Democratic Sponsored Minority Lending Cause Of Mortgage Meltdown
- Conservative "Hooverism"
- Reassessing Reagan's "Government Is The Problem" Proclamation
- Republicans Borrow and Spend to Massive Debit
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
1
1
1
