Today in Washington D. C. - Sept 17, 2008

On The Floor: The Senate will resume consideration of the fiscal 2009 Defense authorization bill (S. 3001). Yesterday, the Senate voted 61-32 to invoke cloture on the Defense authorization bill.

From Senate & News Sources: At a time when Americans are looking with concern at the troubles on Wall Street and other economic difficulties and people in Texas, Louisiana, and other states are recovering from costly and destructive hurricanes, Senate Majority Leader Harry Reid certainly showed his priorities yesterday, not missing an opportunity for hyper-partisan rhetoric. Reid began in the morning by comparing President Bush and Sen. John McCain (R-AZ) to “the ghost of Herbert Hoover.” Reid said, “No matter what George Bush, John McCain, or the ghost of Herbert Hoover may think, this economy is not strong, and the American people deserve better.”

Though Democrats are fond of trotting out Hoover to hang around Republicans’ necks every time the economy faces difficulty, it is in fact Democrats who are pushing the very policies Hoover championed that hurt the economy in the 1930s. Hoover went along with one of the most infamous tariffs in American history, the Smoot-Hawley Act, which accelerated the contraction of international trade in the 1930s. Similarly, Democrats have turned to protectionism of late, refusing to pass beneficial trade agreements with Colombia and South Korea. The obstruction on Colombia alone has cost American companies over $1 billion so far.

Another of Hoover’s mistakes was to raise taxes at a time of economic troubles. Today’s Congressional Democrats voted for a budget that would allow for the largest tax increase in American history, including “allow[ing] income tax rates to go up on individuals making as little as $31,850 and couples earning $63,700 or more,” as the AP put it.

Reid also made sure to take time to attack former Sen. Phil Gramm (R-TX). Reid said, “The same Phil Gramm who, as a senator, was responsible for deregulation in the financial services industries that paved the way for much of this crisis to occur. It was Phil Gramm who pushed legislation through a Republican Senate that allowed firms like Enron to avoid regulation and destroy the life savings of its employees, and it was Phil Gramm’s legislation that now allows Wall Street traders to bid up the price of oil, leaving us to pay the bill.”

However, The Hill reports, “ . . . the 90-8 Senate vote in 1999 that sent the legislation to President Clinton’s desk included ‘aye’ votes from Reid and Democratic vice-presidential nominee Joe Biden (D-DL).” Reid might want to pause next time before assailing people for sponsoring bills he voted for.

Senate Republican Leader Mitch McConnell took a different tack this morning, saying “Now more than ever is the time to rise above politics and work together. Our constituents don’t want campaign speeches and hyper-partisan accusations - they want security for their home and savings. They want energy security and lower costs for gas and oil. And they want protection from future tax hikes on their income.”

---

Tags: Defense authorization bill, economic stimulus, energy bill, offshore drilling, US Congress, US House, US Senate, Washington D.C. To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!