Barack Obama,  economics,  GOP

Video: The $1 Trillion PORKULUS Failure

February 4, 2009 /
CNN asks a Temple University mathematics professor how much $1 trillion actually is. The story notes Senate Republican Leader Mitch McConnell is correct when he says that if you spent $1 million per day starting in the year 0, you still would not have spent $1 trillion by 2009.

The Democrat/Obama Economic Stimulus Bill (S.1) or PORKULUS is a $1 Trillion beomouth. How much is a $Trillion?

Watch the video above.

What a BOONDOGGLE and a colossal failure.

The Congress whould scrape the entire bill and instead immediately consider what the Republican Study Committe has already recommended for families:

  • Five Percent Across the Board Income Tax Cut
  • Increase the Child Tax Credit from $1,000 to $5,000
  • Make the Lower 15% Rate on Capital Gains and Dividends Permanent
  • Repeal the Alternative Minimum Tax on Individuals
  • Permanently Repeal Distributions on Retirement Accounts
  • Make All Withdrawals from IRA’s Tax and Penalty Free During 2009
  • Increase by 50% the Tax Deduction on Student Loans and the Tax Deducation on Qualified Higher Education Expenses

For business:

  • Full, Immediate Expensing
  • Significant Reduction in Top Corporate Income Tax Rate (from 35% to 25%)
  • End the Capital Gains Tax on Inflation
  • Simplify the Capital Gains Rate Structure
  • Make the R and D Tax Credit Permanent
  • Extend the Carryback Period for Net Operating losses to Seven Years

Should Senate Republicans fail to limit the PORKULUS, they should simply let the Democrats and President Obama eat the bill with few, if any GOP votes.

When the economy continues to fail, the blame will fall on the obvious.

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