Economy & Budget

Save our shipyards

Politicians can yammer all they want about “creating” new jobs, but do they have the backbone to save the few remaining good jobs that exist?  Two major shipbuilders (Northrop Grumman, with two first-tier yards in the Gulf Coast one in Newport News Virginia; and Aker Philadelphia Shipyard) are issuing layoff notices that will eventually hit as many as 12,000 or 13,000 workers. The ultimate job casualties will be ten times that total. 

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No one should pay higher income taxes next year (Sen. Mitch McConnell)

“The good news is that a growing chorus of Democrats, including at least five here in the Senate, are coming round on this issue. They oppose the tax hikes the administration is proposing. That’s why I’m introducing legislation today that ensures that no one in this country will pay higher income taxes next year than they are right now.”

Senate Republican Leader Mitch McConnell made the following statement Monday regarding rising taxes and the economy in Washington, D.C.:

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Increased government spending will worsen the economy (Rep. Ron Paul)

Faced with continuing economic decline and an impending election, the administration, predictably, is entertaining the idea of another stimulus package. To explain why the last one didn’t work, adherents to the Keynesian economic philosophy are claiming that they actually did work - it just looks like they didn’t because we don’t realize how much worse off we would be right now without trillions of dollars of public spending. The last administration bought into Keynesianism just as much as this one does, unfortunately. Until we have leaders who understand that debt is not the way to prosperity, there will be no stopping runaway government spending.

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The Big Question: Should the GOP back middle-class tax cuts?

Some of the nation's top political commentators, legislators and intellectuals offer insight into the biggest questions burning up the blogosphere today.

Today's question:

Should Republicans vote for a bill that offers middle-class tax cuts, but phases out cuts for the wealthy?

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Congress should not allow small business owners to pay for overspending (Sen. Charles Grassley)

During the August recess, I heard the anxiety of small business owners all over Iowa.

Their anxiety comes from the bad economy and uncertainty over their tax rates and health care expenses.

Key tax decisions are down to the wire, and there’s good reason for concern.

In the next month, the Senate is expected to consider whether to prevent a number of tax increases that will occur on January 1, 2011, unless Congress acts to stop them.  One of the tax increases the President is proposing is an increase of the tax rates for the top two tax brackets.

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Extending tax cuts would help stabilize the economy (Rep. J. Gresham Barrett)

For months, American families and small businesses have been struggling to survive. High unemployment rates and lack of economic growth have hampered our nation's financial recovery. At a time when so many Americans are struggling to find work, I believe our government should be making tough spending decisions and finding ways to decrease the economic uncertainty currently facing our country.

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The Big Question: Would tax breaks for the rich hurt the U.S.?

Some of the nation's top political commentators, legislators and intellectuals offer insight into the biggest question burning up the blogosphere today.

Today's question:

Would allowing the Bush tax cuts to expire only for the rich help or hurt the economy?

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