On a procedural vote, Tim Johnson votes to continue the march towards a spending package meant to stimulate the economy. John Thune votes no. Read the news story here. Here is how Harvard economist Robert Barro describes the bill:
This is probably the worst bill that has been put forward since the 1930s. I don't know what to say. I mean it's wasting a tremendous amount of money. It has some simplistic theory that I don't think will work, so I don't think the expenditure stuff is going to have the intended effect. I don't think it will expand the economy. And the tax cutting isn't really geared toward incentives. It's not really geared to lowering tax rates; it's more along the lines of throwing money at people. On both sides I think it's garbage. So in terms of balance between the two it doesn't really matter that much.
Meanwhile, here is a story about Blue Dog Democrat Heath Schuler's opposition to the bill. Here is how a real Blue Dog acts:
Democratic Rep. Heath Shuler said Monday that his party's leadership on Capitol Hill has failed to pursue a bipartisan compromise to a costly economic stimulus package, arguing that a lack of Republican support is eroding the program's credibility.
The conservative Democrat, who represents a western North Carolina district, was one of a handful in his party to oppose the stimulus package when the House voted on it two weeks ago. He said Democratic leaders in Congress haven't made any effort to hear his concerns or assuage his fears about the spending bill since the vote. (snip)
He said the package should focus more on infrastructure spending that can create jobs and also have lasting benefits. On the other hand, he also questioned the size of the package, saying that it would leave the nation with a debt burden.
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