Congress and the Economic Fix: Where's the Money Going?
The new Congress will be working with a new administration in the White House. Behind the smiles and calls for cooperation, there's already signs of differences between both sides of the congressional aisles and the president elect. Elements of the Obama proposal is already drawing criticism from both parties. Democrats like Representative Barney Frank and Senator John F. Kerry of Massachussetts, as well as Senator Ron Wyden of Oregon, have expressed deep skepticism about the effectiveness of the proposed business tax credits for creating new jobs. Republicans in the House and Senate are warning about the entire package becoming too large as numbers approach trillion dollar mark.
The proposed stimulus package is drawing fire outside the halls of Congress as well. Left-leaning Nobel laureate economist Paul Krugman is alarmed at the timidity of the Obama proposal. Hardcore free market economists and conservative think tanks like the Cato Institute are working overtime to convince Americans that massive government spending will not create jobs and that the market must be allowed to take its natural course.
Jo Ann and Dave look at the new Congress, their relationship with the new president, and what that means for fixing the broken American economy. Join us in an ongoing discussion about the economic stimulus proposal at kboo.fm/voicesfromtheedge.