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Senate Votes To Block Obama Jobs Plan
The Senate is busy tonight: on one they have just started a currency war with China, on the other, they are about to force every bank to cut its GDP forecast now that the prospect of incremental future fiscal stimulus has just been kneecapped, following a widely expected failure to vote through Obama's job plan a move that immediately forcedthat pathological of pathologies, the US Treasury Secretary to announce that "the action by Republicans to block the full
plan would likely result in weaker U.S. growth." Somehow, it will all be Bush's fault.
From Bloomberg:
- Senate Lacks Votes to Advance Jobs Plan; Vote Is Continuing
From The Hill:
President Obama received a slap from members of his own party Tuesday
as the Senate voted to block his $447 billion jobs package.
The
jobs plan, which the president has spent much of the last month touting
on a cross-country tour, fell well short of the 60 votes it needed to
proceed.
The only Democrats to vote against the measure were Sens. Ben Nelson
(Neb.) and Jon Tester (Mont.), but a number of other centrists in the
party indicated they would vote against the package even though they
supported launching a debate on the measure.
All of the Republicans present on Tuesday voted against the motion.
The vote at 6:50 p.m. was 50-48.
Democratic leaders were holding the vote open to give Sen. Jeanne
Shaheen (D-N.H.) a chance to vote for it in a move that highlighted
their desire to show the package winning as many Democratic votes as
possible. She was scheduled to arrive late to town after receiving a
civic award in Boston.
“The truth of the matter is, most Democrats know just as well as I do
that passing another stimulus and tax hike is a lousy idea — which is
why the president is having such a hard time convincing many Democrats
to vote for it,” Senate Republican Mitch McConnell (R-Ky.) said before
the vote.
In the run-up to the vote, Obama’s political advisers portrayed it as a
black-and-white partisan fight between a president trying to address the
nation’s high unemployment rate and Senate Republican leaders more
interested in partisan politics than the national good.
“Their strategy is to suffocate the economy for the sake of what they
think will be a political victory,” Jim Messina, campaign manager of
Obama for America, wrote in an e-mail to supporters. “They think that
the more folks see Washington taking no action to create jobs, the
better their chances in the next election. So they're doing everything
in their power to make sure nothing gets done.”
Centrist Democrats undercut that narrative by speaking out against Obama’s plan, even though they voted to debate it.
Sen. Jim Webb (D-Va.) voted to cut off a potential GOP filibuster, but
said he nevertheless opposes raising taxes on ordinary income especially
during a time of recession.
Senate Democratic leaders rewrote Obama’s jobs bill to pay for its
stimulus by levying a 5.6-percent surtax on income over a million
dollars beginning in 2013.
Webb said the federal government should give wealthy people incentive to
invest in the economy instead of increasing their income taxes.
“I strongly believe that the way to bring good jobs back is to improve
our economy in the private sector and that means more capital
investment,” Webb said.
“Winston Churchill once said something to the effect that you can’t tax
your way out of an economic downturn any more than you can pick up a
bucket if you’re standing in it,” he added.
Sen. Joe Lieberman (Conn.), an independent who caucuses with Democrats,
supported Senate Majority Leader Harry Reid’s (D-Nev.) bid to begin
debate on Obama’s jobs package but voiced misgivings over its substance.
And from Reuters:
The U.S. Senate defeated President Barack Obama's job-creation package on Tuesday in a sign that Washington is likely too paralyzed to take major steps to spur hiring before the 2012 elections
As voting continued, opponents had amassed more than the 40 votes they needed to block the legislation in the Demcratic-controlled Senate.
The vote was not expected to officially close for several hours until one Democratic lawmaker returned to Washington, but that was not expected to affect the outcome.
But not all hope is lost to Obama:
U.S. Treasury Secretary Timothy Geithner said on Tuesday that the Obama administration would push Congress to approve as much of its jobs plan as possible after the Senate voted to block the plan in its entirety.
In an interview with Bloomberg Television, Geithner said the action by Republicans to block the full plan would likely result in weaker U.S. growth.
"We're going to do everything we can to maximize the chance that we get as much of this done as possible," Geithner said. "And we should, because this bill includes things that have always had broad support among Democrats and Republicans, There's just no reason why politics should stand in the way of doing something for the economy now."
Good luck Treasury Secretary Timothy.
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What happened to Pass this Jobs Bill, Bitchez?
The Prez forgot the majic wordage...'Bitchez'....
If Americans want to know why unemployment figures are so high, they need look no further than these cowardly and despicable republican senators. Compassionate democrats have been trying desperately to help the poor during these tough times with fiscal stimulus programs and by investing in education and healthcare, but heartless conservatives won't even let Obama pass a common-sense jobs bill which would get this country working again. My heart goes out to all those affected by the ideas of spoiled brat libertarians, which have been spread by anarchist nerds and redneck doomers and have somehow managed to permeate the senate. I can only hope this country wakes up to the shocking implications of libertarian bigotry before it becomes a reality.
lol...good one.
The senate is, of course, controlled by heartless democrats.
Your irrelevant facts have no bearing on MDB's programming/ideology. Now that I think about it, I suspect we should be honored to be in the presence of one of the few remaining believers in the two party "dichotomy"!
He does have a way of twisting expectations with results...seems like I've seen this movie before.
And here I thought spending bills had to originate in the house. That must be one of the numerous passages redacted in that document they're supposed to give an oath to pretend to abide by....
You are correct, they do...at least until recently.
There are about 100 bills sitting on Reids desk right now that went through the proper channels...he's afraid to bring any of them before the senate as some may pass and have to be vetoed publicly by Barry.
He's Obama's little bitch ;-)
“Their strategy is to suffocate the economy for the sake of what they
think will be a political victory,” Jim Messina,
The best rebuttal:
"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong ...somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. ...I say after eight years of this Administration we have just as much unemployment as when we started. ...And an enormous debt to boot." -- Henry Morgenthau ( U.S. Secretary of Treasury 1937)
Wouldn't this be a hoot?
"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong ...somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. ...I say after four years of this Administration we have just as much unemployment as when we started. ...And an enormous debt to boot." -- Timothy Geithner ( U.S. Secretary of Treasury 2011)
Mmm..., are you Obama´s Lewinsky???
If he was, the entire comment would have been:
MMphmmmmph.
@MillionDollarBonus: Are you a professor at an ivy league university?? What's your real job? Why do you always say Keynsian drivel?
MillionDollarBonus_'s spiel is the equivalent of reading turd leaves. First he sits on the toliet, a bunch of shit spews out of his mouth, he then rises, faces the toliet and then proceeds to write down the day's Democratic talking points to be posted on ZH later in the evening.
Translation: He's so full of shit, he makes a sewage treatment plant smell like a bed of roses.
Don't be silly, MillionDollarBonus is for "entertainment purposes only". Mildly amusing, but don't get worked up about anything he writes.
its more like MillionDollarDumbAss
Hey! I copyrighted that one! Great minds think alike...or it's the alcohol...
LOL- MDB simply awesome! Just think, we get the greatest ZH lounge show act by far for free...it never gets old. Please tell me you'll never leave!
Hey MDB, If you think the dems here are compassionate I suggest you try on some compassion from their heroes, like Mao, Marx, Lenin, Stalin, Pol Pot. Do yourself a favor and move to Cuba or Venezuala, compassionate lot down there, sure you'll fit right in.
What's funniest is how so many people writing responses to MDB simply don't get his sarcasm. As of this writing he's got 41 red ticks. The joke went completely and utterly over the heads of forty-one people here. Astounding.
http://en.wikipedia.org/wiki/Poe%27s_law
Truly hard on the Ignorati! :>D
To save others the trouble:
"Poe's law states:Without a winking smiley or other blatant display of humor, it is impossible to create a parody of fundamentalism that someone won't mistake for the real thing."
I don't think it was sarcasm at all. Hard to believe but there are people who think just like that.
pas this currency war, er....I ,mean jobs holder........er ....I ,,,,,,mean .....Ah fuckit, I'm going golfing
thats exactly what i did today.
YAWN
A democratic senate votes down it´s own president?
Please explain this to a foreigner...
The president is insane.
You're welcome.
and the senate is stupid and the house is corrupt.
Actually, on this, the senate did the right thing...for themselves first...and the country.
I'm not sure you'd want me to at this juncture.
Please do, your answers are always the best, you live up to your namesake!
The GOP is insane, but unified.
The Dems are incompetent, and disunified.
the gop is unified? how do you work the tea party into that point of view?
Not enough 'bring home said porkulous baconage' yet. Think 'more bribery needed'.
The Big "O" has perfected the fine craft "Delusional Academia".
Enough said.
Some of those Democrat Senators want to be re-elected in 2012 and they know they would not have a chance if they had voted for that bloated spending bill.
Obama is a Lame Ass err lame duck Prezi
.....more like a paralyzed duck with his poll numbers
It will be re-spooned in smaller pieces.
Tragic mistake. If this had passed, it would have done as much for the economy as QE1 and QE2 combined...um...lets see...well...maybe not mistake after all.
As of now, the Fed and treasury can do no wrong. They can openly monetize debt, become the largest holder of treasuries, get downgraded, lie about inflation, you name it, the world still buys bonds. But when sentiment shifts, the Fed or the treasury can do no right. They can try and cut spending and raise rates but nothing will stop the capital flight. NOTHING.
http://freegoldobserver.blogspot.com/
For second time today - Surprise, Surprise!
When you have a bad president the elections can't come soon enough.
Elections bring only more bad presidents.
Closely followed by more bad precedents.
and ultimately ends in famine and pestilence.
blocked
Sorry for the off topic but this is interesting. Paypal to send out 1099 on sales. Will curb PM sales for sure.
We're asking for your tax ID number due to new IRS rules. Your tax ID number is one of these:
- Your Social Security number
- Your Individual Tax Identification Number
- Your Employer Identification Number
We'll use your tax ID number to send tax Form 1099-K to you and the IRS when the payments you receive exceed both of these milestones in a calendar
year:
- $20,000 in gross payment volume for goods and services
- 200 payments
We appreciate your help in complying with these IRS rules. For more information, please see our FAQs on the IRS reporting requirements:
www.paypal.com/irs
Sincerely,
PayPal
The Black Market will be the last and only Free Market soon.
I call this the flea market. I go and shop, and I see DHS agents patroling all the sales of grey/black market items. There is no free market, and hasn't been in a while, watch how fast this gets out of control.
"I call this the flee market" There, fixed it.
I can't remember ;-)
And starting soon guess what else? Any purchase over $600 will be reported as well. Guess where that little gem of a law came from?
Obamacare.
http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611
If you support Obama move to Venezuela you cocksuckers. Everything this guy does is a DISASTER, a complete abortion of a president. Shameful.
That was repealed.
http://www.whitehouse.gov/blog/2011/04/14/repealing-1099-reporting-requi...
I wonder if they'll blog when the Supremes cram Obamacare up their cramholes.
I hadn't heard that, thanks for the link.
Finally I can agree with something Obama did. It only took three years.
The $600 law was repealed.
No surprise for me. The IRS is out to get anyone they can. They sent me a notice saying I owed them $10,000 odd. They wanted me to pay taxes on the entire proceeds from my stock sales in 2009, they assumed a zero investment. It was not part of my return because AMT was higher and there was no point -- according to my software. My wife about had a baby over that one - the lowlife scum sucking pigs.
You won' be able to fart without paying a carbon tax this guy gets elected in 2012...
Dude
Always file your taxable trades or you are dead
Yes, rules like this are STRICTLY enforced for the little guy. 2 sets of rules and all.
Long on Gas-X?
Go down to the local coin guy. He may not take your check or c/c, but will take cash............no one has asked for a tax # yet.
Has someone started a deadpool for the treasury market yet? With all the money parked in bonds, and the complete insanity of everyone involved in U.S. politics, there's going to be a hell of a lot of pancaked dead bodies in business suits when the first failed bond auction takes place.
African or European?
I'm thinking northern European with porcine features. Possibly balding, but wearing a watch that costs more than most cars. They'll be found clutching an ipad showing the latest Nouriel Roubini newsletter.
And if you still aren't broke after that, you can stand in line until a treasury agent comes up with a personallized plan for how to completely ass rape you out of any remaining money you might have after the last decade.
Greenie for the Monty Python reference.
I don't know why, I think this is bullish, DOW will go up another 100 points tomorrow.
Don't forget - AA shat the bed, that's worth another +100 at least tmrw...
well, aside form the fact that ANYTHING & EVERYTHING is bullish, the capitalists will love any mitigation of pay-checks to write; helps the bottom line
"wah wah wah..." forgot the whine with his manipulation that there is no reason not to do as the tuliptiptoeing tinytim (privately owned Federal Reserve (Juggernaut) Corporation shill ) says.
You're right; it is all Bush's fault.
Bush deserves quite a bit of blame: Paulson, two unfunded wars that will cost us trillions, bank bailouts, and never forget it was Bush who first appointed Bernake.
Hence the disastrous foundation and major first leg down is all Bush/Cheney.
But Obama, seriously, how fucking inept are you to continue Bush's idiot policies? Coddling these fucking bankers, cutting deals with big pharma and Billy Tauzin, and now trillions more in debt for your stupid jobs program? Continuing the unfunded Bush tax cuts, are you stupid?
Goddamn democrats had a chance to be heroes reigning in these scum bankers and stemming the red ink flow. Instead Dodd, Schumer, and Obama's appointees (Summers, Geithner, etc.) have made things much worse.
This fucking novice deserves to be a one-termer.
The disastrous foundation goes back to when we used we debt to consume and pretend we were growing, ya know, cause of all that consumption. Bush and Obama are just the icing on a 30 year old cake.
Uh, fannie and freddie had nothing to do with it huh? You know, the equal opportunity lending act and all? If I remember right, bush tried to reign them in and the dems in the senate went nuts
In the playoffs, with the pressure on, teams do inexplicable things to screw up. Whatever their weakness is, they turn to it as if it is a strength, because they are overwhelmed by reality, and cannot adjust.
It's called Choking!
BS, they haven't voted. Waiting for some nimrod from NH before it fails. Dims are against it, go figure.
Silly me and here I was thinking that the DEMOCRATS controlled the senate. Their lies are tiring me greatly.
Great! the Job's Bill is a piece of shit, anyone bother reading it yet? Check section 376 and tell me if you think it's good for America.
well, you're right.... it's mostly BS; "I don't have the facts to back this up" [credit: H. Cain] but heard about shoveling money to states & munis so they DON'T fire teachers, police, etc. Didn't we do this in 2008-09 "stimulus"? Same ol' shit: a job NOT lost = one "created"? on and on & on... bottom line: I don't see HTF they make corp's HIRE people
THe jobs bill did contain extensions for unemployment insurance: if not passed 1.6 million fall off unemployment in January alone. Also anyone collecting 26 weeks of state unemployment won't get any more after that since Federal extension won't be funded.
Leading to an American spring?
I just hope that Obama loses the election. Not so much because he's totally inept, but because I'm so sick of people thinking the Republicans will do anything different/better.
next prez will not serve full term.
Get your point, but I don't see how anybody could be any worse. From the jump, BHO has done exactly the opposite of what should have been done. The first thing I don't think of doing in the middle of "the worst financial crises since the Great Depression" is to add the mother of all entitlements on top of the insolvent ones we already have looming over our heads, and to also go on to increase Federal baseline spending 25%. It takes focus to make things entirely hopeless in just 2.5 years.
I ditto that IdSav. Let's put a GOP in the house next time just to have a diff party to hate. They talk a little differently but neither can walk the walk.
http://www.youtube.com/watch?v=KThDnFOj0Hk
The Senate is run by democrats. Not even Obama's own people wanted to pass this stupid thing. It's retarded.
Saw this shit coming six years ago. Buy guns and learn how to use them. You're going to need em.
Just out of curiosity...next time a sewer pipe breaks in Boston or a main water pipe in LA...or another bridge collapses or you break a truck axel in a turnpike pothole...will any of you then consider the value of putting some of our tax money into the labor and parts needed to upkeep our home foundation? What would be so bad about keeping the part of this bill that would fix a bridge? Construction folk, mechanics, equipment operators, stone masons, suppliers, motels owners and their workers, local restaurant owners and their workers, etc etc, on and on. Yeah, yeah. I know you say that once the bridge is rebuilt the shock and awe is over and the people become unemployed again. Not necessariy. Some have made enough money to pick up and head to where they can find another job; some have settled in the town where the bridge was rebuilt and open a shop; some have learned a marketable skill and join the permanent workforce; others saved enough to enter their community college...goes on and on. Think before just saying No it won't work. Not necessarily true.
Potholes got fixed before giant porkulus $1T spending bills were invented, and will be fixed after they are gone. The gasoline tax every person pays on every gallon of gasoline is for repairing roads and bridges. The property taxes I pay in my little town are for fixing the roads in my little town.
Your thinking brings the nightmare we had for the last thirty years: more and more federal money creation to fund stupid local graft projects. My little hick town, well before Obama, got a Federal grant to put in a paver brick sidewalk and wrought iron fake gaslamps on the less than one block "downtown" which is not even a wide spot in the road. It only benefited the 6 private businesses located there, and now, ten years later, only 2 businesses are still operational.
The last election, we had a guy run for mayor who just graduated from a uni in Tenn [older guy] with a masters degree in how to get Federal and State grants. Do you get that? He is a trained expert in how to apply for Government money. I don't think he got more than his family to vote for him, even government tit people understand killing the golden goose.
Back to what you said: We do not need special bills or spending to repair roads and bridges. We need to use the money collected for that purpose. Not send it to Israel or Egypt or Gaza or Cornholia, Africa.
"Back to what you said: We do not need special bills or spending to repair roads and bridges."
Spot on.
I would add if they cut some of the paper pushers and closed some of those marble buildings there might be even more money left over from our taxes to pay for even more pothole & bridge repair.
yea, screw those Democrats...let's put Romney in there. The man who just said this?
"This is America's moment. We should embrace the challenge, not shrink from it, not crawl into an isolationist shell, not wave the white flag of surrender, nor give in to those who assert America's moment has passed. That is utter nonsense. This century must be an American century. In an American century, America has the strongest economy and the strongest military in the world.God did not create this country to be a nation of followers. America is not destined to be one of several equally balanced global powers. America must lead the world, or someone else will......As President, on Day One, I will focus on rebuilding America’s economy. I will reverse President Obama’s massive defense cuts. Time and again, we have seen that attempts to balance the budget by weakening our military only lead to a far higher price, not only in treasure, but in blood"
If that quote doesn't scare the bejeezus out of you, you're probably just as delusional. Right on Mitt, more defense spending will ensure our DESTINY. Spoken like a true psychotic religious billionaire. It's not GOP vs Democrats, they're all the same.
Yeah, I caught that Romney spine-chiller statement during the last GOP debate. Just what we want/need <grand sarc>.