I agree Mr. Reich. It's become apparent that the Republicans can only discuss things in the vein of ideology, that tax cuts can solve every problem. Even in the case of overwhelming evidence, that you've brought up, they appear to cling (pun intended) to the notion that tax cuts can save the day. That's the problem with bi-partisanship. It takes two people to see the problem and look at it honestly and intelligently, until republicans do that, Congress is going to continue to be gridlocked. "It's like these people take pride in being ignorant."

All well and good, Bob Reich. But why isn't the President giving a speech to lay this out to Americans? He has the power to do that -- and he hasn't done it. Instead he is pandering to Republicans. So he not only emboldens them, he confuses the public.

Organizing for America is holding over 5000 house parties over the next 7-10 days...go to one!!

It isn't just the Republicans, it's also the Blue Dogs like Nelson. Why are we letting them run the show?

The GOP Senators who presided over the Senate Budget, Finance, and related committees during the years (late 90s - 2004) when the financial instruments that have sunk this nation were invented have zero economic credibility. They're the last people with any credibility to call the shots right now.

The GOP offers an outmoded, outdated economic model better suited to the era of the horse and buggy, the sailing ship, and candles than to a networked world. Their economics are suited to a world lit by candles.

Their ignorance is appalling, their intransigence is irresponsible.
They act as if they had nothing to do with this mess, and as if they now control whether we all sink or swim.

They're still playing partisan politics.
And badly.
They're downright embarrassing.

I can't synthesize it well enough, but basically it appears that the GOP still holds to an economic model that fit the 1800s, when capital was required to build infrastructure like railroads and shipping lines.

That model placed a high value on 'investors' who could generate wealth by putting money into hard goods: iron, rails, hard goods.

The current economy has a large sector based on services that don't require 'capital' as much as they require t-h-i-n-k-i-n-g. -- Netscape was 'invented' by Andreeson while he was working for $7/hr in a work-study position.
-- Many web services are developed by creative coders who write applications for websites, mobiles, and eEducation businesses.

These new economic activities are not generated by 'investment' as much as they are generated by creative thinking and disciplined work habits. For these economic activities, Net Neutrality and a solid electric grid are critical. For these activities, 'investors' are not really relevant.

The GOP is stuck in the mindset of railroads and iron mills.
Their solutions only create more trouble, because they're so completely out-of-whack with much of today's economic behavior.

I was horrified when the home purchase tax credit passed (voice vote?!?!?!)....Housing bubble burst got you depressed? Reinflate it

Today AFTER THE VOTE, the Joint Committee on Taxation reported to the Senate that this GOP stimulus boondoggle is likely to cost over $35 billion ..twice the cost the GOP said it would

Does that imbecile Ben Nelson still have a line on his cut list spreadsheet?

President Obama knows how the game is played, and how to play the game. I see him feinting right, going left. Young street guy verses old, white red state, country club members, they ain't got a chance.

Sen. Lindsey Graham indicts self and Republicans nicely in the video on TPM.

http://www.talkingpointsmemo.com/archives/2009/02/stimulus_smackdown.php

But his "scenery chewing" definitely outplays Boxer minor effort in the segment available! Do Demos lack effective theatrical passion?

And if so, is that because they are a different brand of liars than their Repo colleagues?

I never leave after reading one of Robert Reich's commentaries without feeling it was time well spent and I learned something. I'd like to cherry-pick one comment from this one, however, and offer not so much a rebuttal as an aside. Mr. Reich says

They know tax cuts are more popular with the public than government spending, even though spending is a far more effective way to stimulate the economy (more on this in a moment)

I'm a member of the public...perhaps a little more left than some, and tax cuts aren't more popular with me than government spending is, when the purpose of the specific spending is well explained and defended as in the common good. As I remember, recent polls (Gallup, Pew, Harris) seem to indicate I'm not in the minority here. Time after time, when the public is asked whether it would tax itself for cleaner air, or cleaner water, or more efficient mass transit, it responds yes. Granted, this is yes in the abstract, but the degree that the public votes to pass bond issues for capital improvements is some evidence that the public isn't always tax averse. Even this past fall, with evidence that the economy was beginning to tank, my local community passed a bond issue supported by property taxes for the purpose of building a new animal shelter. (I voted with for the animals).

So, it seems to me, that we do ourselves no good accepting the proposition that the "public" is always tax averse--buying into the Republican meme. Strive instead to explicit, concrete, vivid, honest, and visual explanations of what the spending will achieve, and support the argument with concrete examples of what prior government spending achieved (we're still living on capital expenditures from the thirties, and proud of the built heritage bequeathed to us by the New Dealers), and I don't think the majority of the public will desert for empty promises of the Republican Ideologues.

LPACTV: A Green Stimulus

http://www.larouchepac.com/news/2009/02/05/lpactv-green-stimulus.html

Sure wish I was as optimistic as some of you - that the American people will hold this against the Republicans. I see the people around me buying the repub talking points - and don't even see how much sh-t we are in. The republicans that are still in office are representing these dumb ass people (like here in GA) - and the call of their simplistic sound bites is too irresistible to the attention deficit and basically ignorant American public.

I'm saddened to see the same old political divides showing up in this time of crisis. We don't have time for this nonsense.

Where is the unity to set aside our differences, and recognize that we face a common enemy – the end of our economic system as we know it – and get on with the job of supporting our leaders as they seek answers to this unprecedented turn of events?

For decades, Americans have lived beyond our means, borrowing to consume today instead of saving for the future. It was a bad choice, and we need to get back on the road to sustainable standards of living. Painfully, that means we don't all get two SUVs and three massive TVs, because we didn't earn it. Blaming it on low interest rates is like blaming alcoholism on screw-top bottles: access to something doesn't compel over-use. Blaming it on cheaper goods is simply wrong, as long as only the wealthy can afford the high price of protectionism.

We are in trouble. We have never faced a situation where banks don't trust each other and the standard fiscal and monetary tools don't work and assets of all kinds are in free-fall and the situation is global. We can't devalue our way out of a global crisis, so we need to try different approaches, in the hope that one of them turns into a solution. We won't get it all right all the time, but the consequences of paralysis while we examine every single item to ensure that nothing is unclean are simply appalling.

No one wants to dump trillions of future taxpayers' dollars into a black hole, yet, that is not what is being proposed. Each "toxic asset" taken from financial institutions and held by the government is a claim on a cash flow that will, when we return to some form of normality, have value. Deduct that value from the trillions. Similarly, each project proposed for funding will create a stream of money moving into communities. Deduct those pay checks and invoices from the trillions.

Sure, there will be waste and abuse; isn't that always the case? But, until and unless someone comes up with a fool- proof way (no time for messing around, folks) of cutting away only the fat, we need to get on with rebuilding our economy.

It is time to stop pretending we have seen it all before. It is time to stop playing politics with the future of our economy. Those who cannot offer constructive assistance need to stand aside, now.

We don't have time for this nonsense.

eds,
I'll grant that we have had some of these characteristics before, like banks not trusting each other.

But, the monetary and fiscal tools worked back then. But, housing and equities weren't in free-fall back then. But, it wasn't global back then. No, it wasn't (ask Asia, Latin America or the Middle East: it wasn't global).

This is different.

.

If the banks trusted each other now, we wouldn't have a virtual freeze on lending. It is very dangerous to underestimate this economy.

The Senate repub's are exhibiting the feebleminded and petty part of their partisanship!

They offer NO solutions but pick apart 1% of the stimulus bill to the detrement of the Nation!!
However, Pelosi padded this bill and I hope they strip her Samoean pork out!

strip her Samoean pork

You wouldn't say that if you had ever tasted it. First they dig a pit in the sand...