State and local governments remain as fiscally inept as those at the federal level. Property tax revenues dropped when home values dropped. WOW! They did not see that coming either. The difference between fiscally inept and greed Wall Street banks and fiscally inept and greedy state and local government is what?
(AP) by Jim Abrams
WASHINGTON — Hoping to show disenchanted voters that they are the party that cares about jobs, House Democrats are convening an emergency session to pass a bill aimed at saving hundreds of thousands of teachers and other public workers from unemployment.
Lawmakers rushing back from town hall meetings and vacations for the one-day session Tuesday may also address another issue that will be on voters' minds this November — lax border security — with passage of a $600 million bill to beef up surveillance along the U.S.-Mexican border.
House Speaker Nancy Pelosi took the unusual step of summoning representatives back to Washington because the Senate passed both the $26 billion jobs bill and the border security bill last Thursday, after the House had already departed for its six-week summer break.
President Barack Obama is to be joined Tuesday by teachers in the White House Rose Garden, where he will urge the House to move swiftly on the teacher relief package.
Spending more on border security commands bipartisan support, but the jobs bill, which narrowly passed the Senate, is being described in starkly different political terms. Democrats say it could save the jobs of more than 300,000 teachers, police officers and other public health workers. Republicans see it as more profligate government spending and a pre-election gift to teachers' unions and other public service unions that are crucial to helping keep Democrats in the majority.
The legislation provides $10 billion to school districts to rehire laid-off teachers or ensure that more teachers won't be let go before the new school year begins. The money could keep more than 160,000 teachers, including 16,000 in California and 14,000 in Texas, on the job, advocates say.
The other half of the bill has $16 billion for six more months of increased Medicaid payments to the states. That would free up money for states to meet other budget priorities, including keeping more than 150,000 police officers and other public workers on the payroll. Some three-fifths of states have already factored in the federal money in drawing up their budgets for the current fiscal year.
The National Governors Association, in a letter to congressional leaders, said the states' estimated budget shortfall for the 2010-12 period is $116 billion, and the extended Medicaid payments are "the best way to help states bridge the gap between their worst fiscal year and the beginning of recovery."
But House Republican leader John Boehner contended, "The American people don't want more Washington 'stimulus' spending — especially in the form of a payoff to union bosses and liberal special interests."
Pelosi responded, "Why wouldn't House Republicans want to keep 310,000 teachers, first responders and private-sector workers on the job instead of on the unemployment lines?"
And Rep. Sander Levin, D-Mich., said that 45 governors, Republicans as well as Democrats, asked Congress for help to avert massive layoffs.
"We're talking about several hundred thousand" jobs at stake," he told C-SPAN Tuesday. "The notion that this is just unions, no," he said. "I think this is pressure from the public who want their teachers teaching."
Democrats stress that the bill is paid for and won't add to the deficit, but that too is a source of contention.
Republicans objected to raising some $10 billion by raising taxes on some U.S.-based multinational companies. Advocates for the poor were protesting a provision to accelerate the phasing out of an increase in food stamp payments implemented in last year's economic recovery bill. Under the measure, payments would return to pre-stimulus rates in 2014, saving almost $12 billion.
James Weill, president of the Food Research and Action Center, said that would be cutting benefits for some 40 million people now receiving food stamps. "Those families will be hungrier and less able to buy healthy diets."
Several Democrats have said they'll try to find another way of paying for the bill. "I would prefer other offsets," said Rep. Chris Van Hollen, D-Md., a member of the House Democratic leadership. "We do have additional time to identify other offsets."
Finding ways to keep the border security bill budget neutral also held up action. Republicans sought to take unused money from the economic stimulus act, an idea rejected by Democrats, who eventually prevailed with a plan to raise fees for companies that import foreign workers into the United States by obtaining H-1B and other visas for highly skilled workers.
The $600 million bill would include money to deploy 1,500 new enforcement agents along the border and make greater use of unmanned aerial drones for surveillance. Because of rules that revenue bills must originate in the House, the bill might have to go back to the Senate before being sent to Obama for his signature.
The jobs bill is H.R. 1586.
The border security bill is S. 3721.
Grandpa
Yes, Nancy Pelosi told her peers how high to jump and convened an emergency session to spend another $26+ billion. She and the other 434 House incompetents actually want you to believe that by spending $26 billion, there is a net savings of $1 billion given the closing of foreign tax loopholes and cutting spending on Food Stamps slated for 2014.Huffington Post 8/4/10 (Senate passage of State Aid Bill)
The bill's revenue offsets include $9 billion from removing a foreign tax credit loophole, $8 billion from spending cuts, $2 billion from tweaking Medicaid drug reimbursement formulas, and, controversially, more than $11 billion from cutting food stamp funding in 2014 (a previous version of the legislation made a smaller cut). Does anyone truly believe another closing of a tax loophole will reach the lofty levels alleged by congress, let alone the fact who will be there accounting for the alleged revenue generated by closing the loophole? Remember, these are the same "representatives" that opted to pass a 2,300 page financial reform bill while neglecting to read it, let alone comprehend it.
In addition, the Senate Democrats already stated they would do whatever they could to make sure Food Stamp cuts would never be enacted.
Case in point, Huffington Post 8/4/10:
Democrats told HuffPost they will work to prevent the food stamp cuts from ever taking effect. NET...NET, another $26 billion spent with maybe a couple of hundred dollars offset and congress remains confident that once again, no one will remember while they continue down the unaccountable path. Congress operates on the same despicable level as their bailed out buddy Ed Whitacre (GM) did when cutting a commercial to tell the American people they paid the government loan back, in full and ahead of schedule.
Let's not forget that as long as the House was called back to D.C. versus raising contributions for their upcoming November election and vacationing (after all spending grandchildren's future earnings is hard work), they tacked another $600 million for beefing up surveillance along the U.S.-Mexican border.
Once again America...
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