Dorgan Says U.S. Economy Needs More Than Short-Term Stimulus

[cal04]

Source: Associated Press

(Radio Address)
The Bush administration should cooperate further with the Democratic-controlled Congress to stimulate the economy because ``a lot more'' will be needed beyond the short-term package that's been outlined, Senator Byron Dorgan said today

Dorgan, a Democrat from North Dakota, faulted the Republican administration for insisting on extending tax cuts for the wealthy and for trade policies that he said had caused more than $700 billion in deficits. Those problems, along with the subprime mortgage crisis, are among the ``bigger economic issues that threaten our country's future,'' Dorgan said today in the Democratic Party's weekly radio address.

``The White House's cooperation with Congress in recent days is long, long overdue,'' Dorgan said. ``And it's encouraging. But, let's hope it is habit-forming. Frankly, there's a lot more that has to be done to put our economy back on track for the longer term.''

(snip)
Bush ``has given us a fiscal policy that has piled up mountains of debt by insisting we fight the war in Iraq with borrowed money,'' yet ``he continues to insist on giving more tax breaks to the super wealthy,'' Dorgan said.

Read more: http://news.yahoo.com/s/bloomberg/20080126/pl_bloomberg/afjmquyc75ci_1

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Senator Byron Dorgan Delivers the Democratic Radio Address
http://www.dnc.org/a/2008/01/senator_byron_d.php

[L. Coyote]

1. K & R Thanks for the Dorgan Delivers the Democratic Radio Address LINK

http://www.dnc.org/a/2008/01/senator_byron_d.php

[RDANGELO]

2. Finally, someone tells it like it is.

The mortgage crisis is not the cause of our economic problems; it is a symptom. We are almost ten trillion dollars in dept and running huge trade deficits.

[BearSquirrel2]

3. Long term stimulus means ...

Long term stimulus means killing the free trade and low tariff situations that hemorraging jobs from this nation. This isn't a recent thing, it's been going on for a LONG time. Bush just put the pedal to the metal on it.

[DwDunphy]

4. Why economic stimulus can't work

Hello,

I’ve just written a piece concerning the proposed tax rebate stimulus package, and more importantly why it cannot possibly work, for the site www.popdose.com. In it, I basically lay out the fundamental problem with the plan. I have sent this to you in hopes you’ll take a look at it.

The specific article can be found at:
http://popdose.com/get-me-some-money-too/#disqus_thread


Thank you for your time.
Sincerely,
Dw. Dunphy

[ladywnch]

5. yep I said the same thing just the other day. More needs to be

done beyond a few hundred dollar rebates......extention and increase of unemployment benefits, fuel vouchers, and job works programs.

[blondie58]

7. great piece, DwDunphy and a big welcome to DU

I am going to have to read it tomorrow, after my coffee to really digest it, I think.

[radfringe]

9. this stupid rebate stimulus

is like dipping a bucket into one end of a swimming pool, walking to the other end, pouring it out and expecting the water level to rise

[Kaleko]

10. Welcome and thank you for the added info, Dw!

Recommended, btw.

[Tansy_Gold]

13. It seems to me that what you're saying is

we need to revamp the whole system. And I don't disagree at all.

In fact, I think there's a case to be made that our current economic predicament is just the logical and natural result of our current system. In other words, this is the result corporate capitalism (unfettered/unregulated and/or government-abetted) is SUPPOSED to generate. There might be a few bumps or troughs on the way to restoration of a monarchy, such as a Great Depression that spurs social change, higher taxes on the rich, regulation of some industries, but unless the system itself evolves into something very different, the slide into economic totalitarianism continues. Non?

Tansy Gold

[Hydra]

6. Let's get an opinion from the WH:

Let me find GWB's batphone number. OK!

"George?"
"Yeah, is this Turd Blossom?"
"Nope, I picked his pocket the other day. He was a little too involved with the 5lb burger he ordered to notice."
"Who is this?"
"Don't bother tracing this call. I just wanted an off the record opinion."
"Ok, shoot. But hurry up- I'm about to tee-up."
"Do you care about the current economic crisis?"
"Nope. My friends and I are doing quite well. The rest can go screw themselves. All I want at the tax breaks continuing."
"Thank you for clearing that up for me, George."
click.

Just my POV, but I bet he and his friends couldn't care less if they cause another great depression, as long as they're getting what they want out of it. Don't expect the WH to be very helpful otherwise.

[deacon]

8. Finally, someone with a brain emerges. n/t

[donkeyotay]

11. Dorgan would make a great presidential candidate, but he makes too much sense. nt

[ozone_man]

12. It's refreshing to hear a straight talking senator.

Senator Dorgan from North Dakota. Isn't John Edwards headed up there today? They should get together and have a talk.

[MilesColtrane]

14. At this point I don't think a case of Viagra and a fluffer could help stimulate it.