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Nelson: Hair-Splitting in Defense of Bad Policy is No Vice
Matthew Yglesias —
... took a look at a huge bill, and zeroed-in with laser-like efficiency on one of its least-controversial and most highly-stimulative provisions, deciding that that was a good place for “adjustments downward.” And while doing this, Nelson and Collins left in place the least-stimulative elements of the House package and added new non-stimulative stuff like an AMT patch extension and a tax break for people who buy homes. Consequently, as CAP’s Will Straw explains, the Senate “centrists” managed to come up with a bill that creates fewer ...
Sen. Nelson: Senate’s compromise bill has ‘adjustments downward,’ not ‘cuts.’
Think Progress —
... Nelson’s compromise bill provides 12 to 15 percent fewer jobs than the House legislation. Yglesias notes that Nelson helped cut one of the “ ...
Fiscal Libertines
Newshoggers.com —
... It will be less effective and more expensive than the stimulus proposal that passed the House. I can see coherent policy processes frequently producing a bill that is more expensive but also more effective, or less expensive and less expansive in its reach, but to be more expensive and less effective is usually not a desired or praiseworthy result. The Wanker Caucus in the Senate has managed that feat and they are proud of their work. As a wonk, I am deeply offended. From CAP: ...
Lieberman: Republicans In The ‘Gang Of Moderates’ Are ‘Heroes,’ Deserve The ‘Congressional Medal Of Honor’
Think Progress —
... Despite Lieberman’s claim that the Senate bill will “help the American people hold their jobs [and] create new ones,” CAP’s Will Straw explains that it actually “provides for 12 to 15 percent fewer jobs created or saved than the House-passed Recovery and Reinvestment Act despite costing slightly more.” ...
The Better Jobs Plan
TalkLeft —
Via Krugman, CAP explains in basic terms why the House stimulus bill is superior to the Senate stimulus bill: The Senate compromise recovery and reinvestment legislation provides for 12 to 15 percent fewer jobs created or saved than the House-passed Recovery and Reinvestment Act despite costing slightly more. The House-passed legislation creates or saves between 430,000 and 538,000 more jobs than the Senate compromise. The Senate bill costs more and does less. It is indefensible. The House bill needs to prevail in the coming ...
Business Groups Cheerlead Senate’s Ineffective Stimulus Tax Breaks
Wonk Room —
... that were rightfully eschewed in the House’s stimulus. Incidentally, the Senate bill would create between 430,000 and 538,000 fewer jobs than its House counterpart. But, hey, who’s counting, as long as big-business groups get what they’re looking for? ...
2/10: Stimulate This
Blogometer —
... and Susan Collins (R-Maine) took a look at a huge bill, and zeroed-in with laser-like efficiency on one of its least-controversial and most highly-stimulative provisions, deciding that that was a good place for 'adjustments downward.' And while doing this, Nelson and Collins left in place the least-stimulative elements of the House package and added new non-stimulative stuff like an AMT patch extension and a tax break for people who buy homes. Consequently, as CAP's Will Straw explains , the Senate 'centrists' managed to come up with a bill that creates fewer jobs while ...
The Latest On Negotiations Over The Stimulus: School Construction In, Home-Buyer Credit Out?
Think Progress —
... The Senate’s “compromise” bill, as it stands now, would create about half a million fewer jobs than the House bill, despite costing $20 billion more. The rumored amendments would begin to address that disparity. ...
The Latest On Negotiations Over The Stimulus: School Construction In, Home-Buyer Credit Out?
Wonk Room —
... The Senate’s “compromise” bill, as it stands now, would create about half a million fewer jobs than the House bill, despite costing $20 billion more. The rumored amendments would begin to address that disparity. ...
