Senators have reached a tentative deal on a version of President Obama’s economic stimulus plan, including about $805 billion in spending and tax cuts, that will win enough Republican votes to move forward. source.
Sen. Tom Coburn, R-Okla., has highlighted many provisions he considers to be earmarks, including a $246 million tax break for Hollywood movie producers. It would allow large Hollywood studios the opportunity to choose between an existing tax break or write off 50 percent of the entire production cost for movies and TV shows made in 2009. It was in the bill when Gibbs made his statement but was removed Feb. 3 when Coburn passed an amendment 52-45 to remove it. source.
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To give the proposed economic stimulus plan some perspective, “if you started the day Jesus Christ was born and spent $1 million every day since then, you still wouldn’t have spent $1 trillion.” Mitch McConnell, Sunday, February 1st, 2009. source.
see more wasteful spending Stimulus.
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Citation Details
Title: Don't read that bill.($787 billion economic stimulus bill )(Column)
Author: Joe Feuerherd
Publication: National Catholic Reporter (Magazine/Journal)
Date: March 6, 2009
Publisher: National Catholic Reporter
Volume: 45 Issue: 10 Page: 28(1)
Article Type: Column
Distributed by Gale, a part of Cengage Learning
The Debt Bomb: A Bold Plan to Stop Washington from Bankrupting AmericaIn a nation whose debt has outgrown the size of its entire economy, the greatest threat comes not from any foreign force but from Washington politicians who refuse to relinquish the intoxicating power to borrow and spend. Senator Tom Coburn reveals the fascinating, maddening story of how we got to this point of fiscal crisis-and how we can escape. Long before America's recent economic downturn, beltway politicians knew the U.S. was going bankrupt. Yet even after several so-called "change" elections, the government has continued its wasteful ways in the face of imminent danger. With passion and clarity, Coburn explains why Washington resists change so fiercely and offers controversial yet commonsense solutions to secure the nation's future.
At a time when millions of Americans are speculating about what is broken in Washington, The Debt Bomb is a candid, thoughtful, non-partisan expose of the real problems inside our government. Coburn challenges the conventional wisdom that blames lobbyists, gridlock, and obstructionism, and places the responsibility squarely where it belongs: on members of Congress in both parties who won't let go of the perks of power to serve the true interests of the nation-unless enough citizens take bold steps to demand action.
"Democracy never lasts long. It soon wastes, exhausts, and murders itself. There was never a democracy yet that did not commit suicide." -John Adams
Throughout a distinguished career as a business owner, physician, and U.S. senator, Tom Coburn has watched his beloved republic careen down a suicidal path. Today, the nation stands on the precipice of financial ruin, a disaster far more dangerous to our safety than any terrorist threats we face. Yet Coburn believes there is still hope-if enough Americans are willing to shake the corridors of Washington and demand action.
With an insider's keen eye and a caregiver's deft touch, Coburn diagnoses the mess that career politicians have made of things while misusing their sacred charge to govern.
Coburn's incisive analysis:
- Reveals the root causes of America's escalating financial crisis
- Exposes Washington's destructive appetite for wasteful spending, power grabs, backroom deals, and quick non-fixes
- Rises above partisanship to implicate elected officials of all stripes in steering the nation off course
- Lays out a commonsense guide to restoring order
- Concludes with a clarion call and sound advice for Americans who would dedicate themselves to defusing the debt bomb
