Republicans in the senate are going on record that they will not support President Obama's stimulus package.
Their stated reasoning is that they don't want the high spending but instead want to cut business taxes.
Both sides of course say that their ideals to stimulate the economy will be the best things to do.
Republicans want tax cuts for business because they say that business will use the money they save on those tax and put it into more jobs. The problem with this ideology is that their is no way to be sure a company will use the money to hire a new person and not either use it for executive bonuses (see AIG) or just count extra money as a profit.
At least with Obama's plan to spend money in certain areas we know that jobs will be created or at least the plan can be tailored to be spent in ways we know will created jobs. for example part of Obama's plan includes paying for infrastructure, like fixing roads, bridges and fixing schools, at the least with those task we know that we will create blue collar jobs. Obama also want to put money in science researches, which will create (or at maintain) white collar jobs (scientist)
Monday, January 26, 2009
Republicans trying to hult Obama's plan to save the American Economy
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