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Pelosi: 'Very harsh decisions to make' for Congress

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Speaker of the House Nancy Pelosi leaves the St. Julien Hotel in Boulder on Wednesday after attending an event for Democrat Jared Polis, a candidate for the House of Representatives District 2 seat.

Zak Wood, For the Camera

Speaker of the House Nancy Pelosi leaves the St. Julien Hotel in Boulder on Wednesday after attending an event for Democrat Jared Polis, a candidate for the House of Representatives District 2 seat.

DENVER -- House Speaker Nancy Pelosi said Wednesday a second economic stimulus plan is needed now because of the faltering economy, and she put the price at $150 billion.

The House did pass a $61 billion economic aid proposal last month before lawmakers left Capitol Hill ahead of the Nov. 4 election. But a similar plan failed to pass the Senate.

Pelosi, D-Calif., said the economy is weakening and more help probably is needed. But President Bush has promised a veto.

The Senate is expected to be back at work after Election Day to complete a public lands bill and other matters. The House also couldreturn to consider a stimulus plan and additional issues.

"We have some very harsh decisions to make and some of them can't wait until January," said Pelosi, who was in Denver to tour a hospital.

The first economic plan this year cost $168 billion and sent tax rebate checks to most individuals and couples and awarded tax breaks to businesses.

Pelosi said the nation now needs a stimulus package to create jobs by investing in infrastructure, to provide food stamps and unemployment insurance and to help states pay for Medicaid.

Pelosi said Congress needs to "hunker down," scrutinize the federal budget and reconsider whether the U.S. can afford "a war without end" in Iraq.

She praised the Federal Reserve for cutting a key interest rate by a half percentage point and said Bush should reach out to other industrial democracies in the Group of Eight to coordinate banking policies.

Without collaboration, she said, depositors will rush to bank their money in countries with the strongest deposit guarantees, creating a "beggar thy neighbor" policy.

Rep. Diana DeGette, D-Denver, who accompanied Pelosi, said she was glad Congress left Washington with an open-ended adjournment after passing the $700 billion bailout bill.

"I'm ready to go back on a moment's notice," DeGette said.

Pelosi visited a new pediatric emergency unit at Denver Health medical center and praised the public hospital for treating the uninsured while remaining in the black.

The hospital says it has provided more than $3.1 billion in care to the uninsured since 1991.

Comments

Posted by broulder on October 8, 2008 at 1:11 p.m. (Suggest removal)

great

Posted by elirenfro on October 8, 2008 at 1:13 p.m. (Suggest removal)

Congress should be in session 24/7 during times like this. I'm just sayin'

Posted by slehan on October 8, 2008 at 1:16 p.m. (Suggest removal)

That is known as a pork package. Spending money on infrastructure is just paying back big campaign donors. And would take months to years to stimulate the economy.

This is taking advantage of a crisis to lick the hand that feeds you.

If you want to immediately stimulate the economy...announce a tax holiday today on something...fuel...corporate tax..those would be fast and easy. You could have an income tax holiday but that would not be such an immediate stimulant.

Posted by dax5000 on October 8, 2008 at 1:56 p.m. (Suggest removal)

Well, Senators make $169,300 per year, I make less then a third of that, and I have to work EVERY DAY, so obviously I'm in the wrong line of work.

Posted by dax5000 on October 8, 2008 at 2 p.m. (Suggest removal)

Also, the Senators have not had to take a pay cut since 1932, around the last time when the $*#t hit the fan, maybe it's time for them to take a hit for team America too.

Posted by potbelliechef on October 8, 2008 at 2:11 p.m. (Suggest removal)

Reminds me of the old joke: I'm from the government and I'm here to help.

Posted by Ralphie2 on October 8, 2008 at 2:23 p.m. (Suggest removal)

"The fundamentals of our economy are strong" -- John McCain

Posted by barney on October 8, 2008 at 2:41 p.m. (Suggest removal)

gimme, gimme, gimme, gimme

Posted by Americans4Liberty on October 8, 2008 at 2:47 p.m. (Suggest removal)

Printing more money is the Fed’s typical answer, but we are on the verge of runaway inflation. We have printed so many dollars now that we are at parity with the Canadian dollar for the first time since 1976. Since the Fed stopped publishing M3, which tracks the total supply of dollars in the economy, we can’t even be sure how many dollars they are creating. Private economists using the original method find actual inflation to be over 10%, which matches more closely the pain consumers in the real economy feel. The Fed tries to keep up with government’s spending habits, but is sending inaccurate signals to mask bad monetary policy. Ultimately, we’ll get back on track financially only when government spending is held in check and the free market controls monetary policy.......

http://www.ronpaullibrary.org/documen...

Posted by gsegiet on October 8, 2008 at 2:51 p.m. (Suggest removal)

I'm just glad to hear that Congress is finally on top of this. I'll rest well tonight, knowing they'll use their Congressional expertise to get us out of this mess.

On a related note, I'm also glad we repealed the ban on Sunday liquor sales - that should help us get through this in the near term.

Posted by dont on October 8, 2008 at 3:03 p.m. (Suggest removal)

I'd rather they cut my taxes.

Posted by theprairieprankster on October 8, 2008 at 3:49 p.m. (Suggest removal)

Think about it, we pay Congress less than most companies pay their mid-level executives. You wonder why we don't get the best and brightest people in government? They can't afford the pay cut. Our government spends trillions of dollars yet the people who are in charge are paid a fraction of what they would earn if they worked in the free market. Perhaps we would attract a better and more competent Congress if we paid them $500,000, term limited them to 3 terms and did not let them finance their own campaigns.

As it stands now, you have to be in the top 1 or 2 percent to be able to afford to run for Congress and a millionaire to be able to maintain a place to live in DC and in your District. Pay them well, don't let them stay forever and force them back into the free market when they leave so they can experience the fruits of their labor like the rest of us.

Use free market principles to attract the best and brightest. As it stands now, if you are not born into power or can not buy your way in, then you can not serve.

Posted by vkberlinn on October 8, 2008 at 3:50 p.m. (Suggest removal)

R2 the repetitiveness of you mind is mindless.

R2=Pelosi eh?

Posted by Danimal on October 8, 2008 at 4:04 p.m. (Suggest removal)

Money! Quick, send me a wheelbarrowload, so I can go buy a carton of milk.

Posted by DianeMad on October 8, 2008 at 4:19 p.m. (Suggest removal)

theprairieprankster - I have a much better idea. Cut the pay for company executives. Most other countries pay their top executives 10 times more than the average worker receives. In the good ole USA the top executives receive at least 100 times more, plus golden parachutes. And just see where that has gotten us. As for outsourcing - I am all for that - outsource the top executve jobs to japan, India, Romania or wherever they don't charge an arm and a leg even when they take a company into bankruptcy.

Posted by mcmann on October 8, 2008 at 4:28 p.m. (Suggest removal)

What ever happened to the results of Bush's economic stimulus package? You know, that check you got in the mail a few months back?

Posted by DianeMad on October 8, 2008 at 4:49 p.m. (Suggest removal)

It seems that the US taxpayer is a bit like a woman waking up from a "date rape" drug only to realize she has been sodomized!

Posted by MikeEllis on October 8, 2008 at 4:53 p.m. (Suggest removal)

"What ever happened to the results of Bush's economic stimulus package?"

It came right out of all of our (future) social security checks.

Posted by SoBoPop on October 8, 2008 at 4:56 p.m. (Suggest removal)

If I were Polis, I'd tell Pelosi to stay away, far away.

Posted by potbelliechef on October 8, 2008 at 4:56 p.m. (Suggest removal)

mcmann writes: "What ever happened to the results of Bush's economic stimulus package? You know, that check you got in the mail a few months back?"

See, now you know what happens when you take too long in the bathroom - you miss things.

Posted by potbelliechef on October 8, 2008 at 5:07 p.m. (Suggest removal)

DianeMad - I get the analogy, but there's a flaw. We, the taxpayer, went willingly along with all of this. With only two exceptions I can think of right now, we elected every single person who serves in Congress. We happily sent in those credit card offers with teaser rates, either without bothering to read the fine print or thinking we'll just roll this balance into a new card with a new teaser rate on balance transfers. We all enjoyed having our home prices skyrocket, never bothering to figure out why now. We traded in 2-year-old cars with 15,000 miles on them so that we could have that new car smell. We bought flat-screen TVs so that we could watch insipid movies in high definition and at ear-splitting (but high quality!) sound. We were the ones who refused to save a dime, so that the national personal savings rate plummeted to zero.

It's so easy to blame politicians, because they're such easy targets. But they gave us exactly what we wanted - easy money. We can fire the lot of them, but that won't fix the problem. How many out there are ready to start saving. How many are willing to be as disciplined as what we are apparently demanding from our politicians, and not only live within our means, but systematically pay down our debts - for years, if necessary.

The answer, I fear, is very few of us.

Posted by BlindLemonFishStix on October 8, 2008 at 5:37 p.m. (Suggest removal)

Great. Queen Nancy and her pack of thieves are back. I wonder what else they are going to cook up to help the economy. We can look forward to lots more bills to save playground chalk, cockroach appreciation day, grants for the preservation of used chewing tobacco, shoelace and spittle conservation initiatives, and of course another few billion dollars to line their pockets.

I say we should fire them all. Or, maybe a public execution of 10% of them would do the trick to get them motivated. I want them to start fearing "we the people" instead of looking at us like their personal slaves.

Posted by DianeMad on October 8, 2008 at 6:05 p.m. (Suggest removal)

potbelliechef - you are right - many taxpayers went willingly along just as some women go home with a date only to find they have been - screwed. Also, financial institutions and the government - incouraged people in this country to be stupid and greedy. Those in the WWII generation were the smart ones - they owned their homes, only bought what they could afford and didn't trust banks.

Posted by EvanFromHeaven on October 8, 2008 at 7:25 p.m. (Suggest removal)

Pot: We don't go along with what Congress does! If we did, the bailout (NAFTA, ad nauseum) would never have passed. If even ONE person votes for a Congresscritter, they're in. We almost always have ONLY a choice of evils.

IF you want to be a "decider" about national policy, then please vote to ratify the National Initiative for Democracy, which would institute national (and better) ballot initiatives. You're going to help decide 18 ballot issues in Colorado, why not the far more important national ones too? http://Vote.org

By the way, in Switzerland, where they've had national initiatives since 1891, they never have 18 at once because they vote 4-6 times a year. More newspapers are read there/capita because people have an incentive. Politics isn't just kibbitzing there.

Posted by walongloop on October 8, 2008 at 8:39 p.m. (Suggest removal)

Can this actually be happening?

The ink is hardly dry on the $700B bailout, the world economy is tanking, and the Dems want ANOTHER $150 Billion?

Good grief, what's next?

With Americans having lost $2 TRILLION in recent days, the only greater insanity would be a vote to put Obama and his $1 TRILLION in EVEN MORE NEW SPENDING into office. With a Democrat Congress, you're handing him a blank check signed by the American taxpayer.

Obama is gonna take the economy down the toilet, people. That's the "change" you can count on (since you won't have much money left to count.)

Posted by MikeEllis on October 8, 2008 at 9:13 p.m. (Suggest removal)

I hate to tell you this Evan, but of the 18 initiatives on the ballot this year, at least 17 of them are really bad ideas, and many of them will pass because most voters are not smart enough to actually read them and understand the consequences.

I don't want to make it easier for any bozo to put something on the ballot. That's why the only thing I'm actively supporting is Ref O, which at least makes it harder for the really obnoxious constitutional amendments.

Posted by FuriousB on October 8, 2008 at 10:50 p.m. (Suggest removal)

walongloop is right. what we need now is more republican economic policy to pull us out of this mess caused by, well, republican economic policy. four more years! four more years! um... why am i the only one cheering, and what's that noise? oh... crickets. right.

Posted by billy_goat_gruff on October 8, 2008 at 11:10 p.m. (Suggest removal)

"I say we should fire them all"

Great idea. We could replace them with drooling nitwits like you, who would work just for the chance to screw things up.

Posted by devastation on October 8, 2008 at 11:32 p.m. (Suggest removal)

Only one candidate is truly in touch with how Americans feel these days, and that's John McSame:

"The Republican vice-presidential candidate addressed a crowd in Pennsylvania as 'my fellow prisoners.'

McCain made the slip while discussing his plans for the economy, including health care and energy policies. “Across this country, this is the agenda I have set before my fellow prisoners,” he said

FOUR MORE YEARS! FOUR MORE YEARS!

Posted by FuriousB on October 8, 2008 at 11:38 p.m. (Suggest removal)

The Republicans are about as good at handling the economy as they are at handling a war.

Posted by vegbiker on October 8, 2008 at 11:43 p.m. (Suggest removal)

I dream that Cindy Sheehan will take Pelosi's seat and start a revolution to drive the corporate criminals out of Congress. Dreams may all we American have left soon.

Posted by jtmt2 on October 9, 2008 at 6:04 a.m. (Suggest removal)

Support H.R. 500, the Fiscal Responsibility Act. If passed into law it would trigger a cut in Congressional pay for each year in which the federal government runs a deficit.
http://www.downsizedc.org/etp/campaig...

Posted by Buzz on October 9, 2008 at 6:56 a.m. (Suggest removal)

To suggest the salary of a US Senator contributes to our multi trillion dollar bailout is not good arithmetic. A string of bitter and nasty one-liners are easy to fire off, but what to do about a global recession is not.

The bubble is bursting; hard times are coming. Besides complain and blame, what actually would you do about it?

Posted by mountnbob on October 9, 2008 at 7:01 a.m. (Suggest removal)

http://www.americanthinker.com/blog/2...

I submit the following video for a history lesson

Posted by boulderhippie on October 9, 2008 at 7:05 a.m. (Suggest removal)

Buzz -

I'd let it happen.

Posted by walongloop on October 9, 2008 at 8:17 a.m. (Suggest removal)

> what we need now is more republican economic policy to pull us out of this mess caused by, well, republican economic policy.

Sigh. It's not enough that the economy is bleeding to death, the leftists still want to drown the nation in a sea of Kool-Aid.

Two suggestions:

- Learn the facts, please.

- Be careful what you vote for, you just might get it.

Posted by walongloop on October 9, 2008 at 8:22 a.m. (Suggest removal)

(Not) Funny Too -- How the DC has buried this headline behind "Walk to School Day"

Posted by FuriousB on October 9, 2008 at 8:32 a.m.

(This comment was removed by the site staff.)

Posted by dludler on October 9, 2008 at 8:48 a.m. (Suggest removal)

Please stay on vacation, Nancy. The economy doesn't need any more of your "help".

Posted by roc on October 9, 2008 at 8:51 a.m. (Suggest removal)

mountnbob,

Thank you so much for giving the people a source for education. I have been telling my friends to study the "Community Reinvestment Act", and this is a wonderful source.

If some of you missed it, here it is again.

http://www.americanthinker.com/blog/2...

Posted by patriot007 on October 9, 2008 at 10:56 a.m. (Suggest removal)

So Polis pals around with Pelosi? Ugghhh! Pathologically power-hungry plutocrats and pandering, pontificating politicos. Yuck.

My new bumper sticker: WE'RE SCREWED '08

Posted by phoenix_rises on October 9, 2008 at 11:34 a.m. (Suggest removal)

that's similar to my current bumper sticker:
BEING SCREWED LAST 8

Posted by walongloop on October 9, 2008 at 1:31 p.m. (Suggest removal)

> BEING SCREWED LAST 8

Again, please wake up and smell the facts. The subprime mess was ignited during Clinton, and the stage was set by Jimmy Carter.

Another inconvenient little tidbit:

http://www.washingtonian.com/articles...

"Franklin Raines, the former top man at Fannie Mae, bought a three-bedroom, seven-bath penthouse condominium in the West End’s Ritz-Carlton Residences for $4.9 million. The condo has a rooftop terrace with a hot tub, a butler’s pantry, and three parking spaces. Raines, director of the US Office of Management and Budget under President Clinton, was CEO of Fannie Mae from 1999 to 2004."

This guy made $90 mil from Fannie. I'm sure he'd love your bumper sticker too.

Posted by phoenix_rises on October 9, 2008 at 3:55 p.m. (Suggest removal)

ahhhh Clinton, the last time my 401k was in the green.

Posted by phoenix_rises on October 10, 2008 at 11:32 a.m. (Suggest removal)

Interesting posts patriot007 seems as though your bumper sticker had already been taken. When speaking about McCain's mortgage plan....

Prominent conservative blogger Michelle Malkin went one step further, calling the plan "rotten" and declaring on her blog, "We're Screwed '08."

Patriot, please tell me that you have some unique idea of your own.

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