1. Bush-onomics Forever!
The GOP is desperate to avoid the Bush label—both broadly and in specific terms of reclaiming the mantle of fiscal responsibility—but their main economic policy proposal seems to be to ignite a deficit bomb by extending Bush’s tax cuts, which are due to expire this year. Here’s a political definition of chutzpah: Argue against $30 billion in unemployment extensions in the name of fiscal discipline while pushing for a tax cut extension that would cost $2 trillion over 10 years.
2. Diving Back Onto the Third Rail
Tax cuts aren’t the only economic idea recycled from the Bush years. Remember the stupendously failed attempt to privatize Social Security? Not only do the likes of Angle, Paul, and former half-term Alaska Gov. Sarah Palin embrace the idea, so does Rep. Paul Ryan, the Wisconsin Republican who would become the chairman of the Budget Committee if the GOP takes over the House.
3. Unhealthy Attraction to Repeal
The Republicans are becoming not simply the “party of no,” but the party of repeal. We knew about their fixation on repealing healthcare reform. Admittedly there is a certain political logic here. While the gap has narrowed, voters still view the bill negatively. But the GOP would still be hard pressed to explain why they want, for example, insurance companies to be able to discriminate based on pre-existing conditions.
4. Party of Wall Street
They’ve also added the Wall Street reform bill, which Obama just signed into law, to their repeal target list. This one is harder to figure. An April ABC News/Washington Post poll showed two-thirds of Americans support stricter financial regulation. Is the GOP really ready to embrace its heritage as the party of Wall Street?that up there is for republican
this on is for democratic:
1. Repealing Bush's Tax Cuts
The fight over the expiring Bush tax cuts couldn't have come at a better time for Republicans. President Obama wants to raise taxes on individuals making more than $250,000 a year while leaving the middle class tax cuts intact. According to Congress's official tax scorekeeper, over 50 percent of those classified as "wealthy" are small business owners who employ millions of Americans, including many in the middle class. At a time of record unemployment, the Democratic Party is willing to place more economic burden on their backs through higher taxes instead of investing in their growth. Recently, Federal Reserve Chairman Ben Bernanke and leading Senate Democrats like Kent Conrad and Evan Bayh have said the last thing we should be doing in a recession is raising taxes, particularly on small businesses.
. Federal Spending
The federal deficit has exploded since President Obama took office. Much of that red ink hinges on a massive financial rescue package and economic stimulus measures. Those two bills combined cost nearly $1.5 trillion. In addition, the new healthcare reform package signed into law will cost another trillion. And nothing is being done to control America’s record $13 trillion debt. Washington’s spending spree is such an addiction that Democrats have canceled passing a federal budget that would help bring back fiscal sanity.
3. The Cap-and-Trade Fantasy
The cap-and-trade policy authored by Sens. John Kerry and Joe Lieberman has split the Democratic Party. The refusal to give up on creating a carbon-based trading system has robbed them of passing a real energy policy that would help bring down costs and make America more independent from foreign oil. Instead, it would increase energy taxes and create even more unemployment. While Senate Majority Leader Harry Reid has shelved it for now, there is hope among many Democrats that it will be brought back up for passage after the election during a lame duck session.
4. Politicizing Immigration Policy
The inability of the federal government to control our borders combined with the effort by the Obama White House to politicize the issue has resulted in a national powder keg over immigration. Arizona Governor Jan Brewer’s decision to enforce the law and the Justice Department’s lawsuit against the state has exposed the ever growing dilemma. Instead of finding real policy solutions, the calculated move by the White House to attack Arizona’s new policy in an effort to fire up the Hispanic vote has backfired among voters. According to a recent Gallup Poll, more Americans and especially independent voters support Arizona’s attempt to control the problem.
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