Congress Plans Second Stimulus Debate

Extended Unemployment Benefits, Food Stamps, Tax Rebates Possible As Democrats Prepare Post-Election Economic Plan

(AP)  After consulting with Barack Obama, Democratic leaders are likely to call Congress back to work after the election in hopes of passing legislation that would include extended jobless benefits, money for food stamps and possibly a tax rebate, officials said Saturday.

The bill's total cost could reach $150 billion, these officials said.

The officials stressed that no final decisions have been made. They spoke on condition of anonymity, saying they did not want to pre-empt a formal announcement. House Democrats have announced plans for an economic forum on Monday "to help Congress develop an economic recovery plan that focuses on creating jobs and strengthening our economy."

Democrats said Obama's campaign has been involved in discussions on a possible stimulus package. The party's presidential candidate, running ahead in the polls, has outlined his own proposals for stimulating the economy.

Democrats are increasingly confident of capturing the White House and increasing their majorities in the House and Senate on Nov. 4.

If they are successful, a lame-duck session of Congress two weeks later would allow them to start work on a response to the credit crunch that has sent stock prices plummeting and also threatens to trigger a deep recession. It often takes two or three months for a new Congress to begin turning out legislation, particularly when a new president is settling into the White House.

On the other hand, by attempting to pass legislation next month, Democrats would have to negotiate with President George W. Bush, whose term runs until Jan. 20, 2009. Additionally, Senate Republicans, with 49 seats, could block any measure they opposed.

House Speaker Nancy Pelosi told reporters in Denver last Wednesday a $150 billion stimulus package is necessary and she may call the House back into session after the election. Her spokesman, Brendan Daly, added, "Congress just worked in a bipartisan way with the Administration to pass an economic rescue plan to help stabilize our financial markets, and we must now work together to pass a jobs creation and economic recovery stimulus package."

In the Senate, Majority Leader Harry Reid of Nevada has announced a post-election session beginning Nov. 17 to consider public lands legislation. His spokesman, Jim Manley, issued a written statement that said "recent developments only reinforce the need for additional action to reinvigorate the economy." He added, "no decisions have yet been made on how to proceed."

An Obama spokesman, Bill Burton, said the campaign is monitoring the situation.

The candidate has said previously he favors $25 billion to help states meet their own needs, another $25 billion for roads, bridges and other infrastructure, and $65 billion for tax rebates paid for by a windfall profits tax on oil.

Speaking in Ohio on Friday, the Illinois Democrat also said, "we should extend expiring unemployment benefits to those Americans who've lost their jobs and can't find new ones."

The House passed a $61 billion economic stimulus bill before lawmakers adjourned for the elections, but it was largely symbolic since Senate Republicans had already thwarted efforts to pass a companion measure.

It called for up to 13 additional weeks of jobless benefits in states with the highest unemployment, at a cost of $6 billion. Another $14.7 billion was ticketed to help states cover Medicaid costs. Enrollment in the federal-state health care program for the poor and disabled often rises with unemployment.

The measure also included money for road and bridge construction, a relatively easy way to create jobs and pump money into the economy.

With that bill's passage blocked, Pelosi then sought to have it added to the financial bailout legislation making its way to President Bush's desk, according to officials in both parties. They said the White House signaled it would accept an extension of unemployment benefits, but the speaker refused to allow the stimulus package to be broken up.

As a result, Congress adjourned without providing additional benefits for the unemployed as increasing numbers of people are losing their jobs.

Congress enacted an earlier stimulus legislation with unusual speed last winter. It provided tax rebate checks of $600 to individuals and $1,200 to couples and included tax breaks to businesses investing in new plants and equipment.

[impeach__w]

World Bank Under Cyber Siege in ''''Unprecedented Crisis''''
The World Bank Group''''s computer network %u2014 one of the largest repositories of sensitive data about the economies of every nation %u2014 has been raided repeatedly by outsiders for more than a year, FOX News has learned.

It is still not known how much information was stolen. But sources inside the bank confirm that servers in the institution''''s highly-restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank''''s network for nearly a month in June and July.

In total, at least six major intrusions %u2014 two of them using the same group of IP addresses originating from China %u2014 have been detected at the World Bank since the summer of 2007, with the most recent breach occurring just last month.

In a frantic midnight e-mail to colleagues, the bank''''s senior technology manager referred to the situation as an "unprecedented crisis." In fact, it may be the worst security breach ever at a global financial institution. And it has left bank officials scrambling to try to understand the nature of the year-long cyber-assault, while also trying to keep the news from leaking to the public.

" http://www.foxnews.com/story/0,2933,4356
81,00.html "

This post keeps getting removed! wonder why?

[wherenextnow]

Oh look! More money giveaways. This time from Hag Pelosi.

[drivelphobe]

wolf77creek-

Well said and right on the mark. I, like you, lived beneath my means while working hard, saving and investing. I used old clothes and furniture from friends. I delayed purchases of new cars, clothes and meals at nice restaurants. Today, I enjoy the fruits of my frugal past and live comfortably without any government assistance as you obviously do.

Anyone can make it in this country and those who don''t are selfish, impulsive and probably addicted to booze, cigarettes, drugs or a combination. There are those with physical and/or mental disorders who can be excused. This does not include the phonies who think alcoholism is a disease. It''s all based on poor decision making and laziness. they get what they deserve but they sure shouldn''t be getting handouts from the taxpayers. Let them rot.

[gettin_angry]

Just looking at the electoral map, it appears as if the true middle class states are in McCain''s column and those where the elitists and big urban centers reside are in Obama''s column. It looks as if the elitists have recruited enough "victims" for them to finally get their way.
This issue with this stimulus proposal is just more of the same. It''s elitist buying votes and creating victim mentality.
My bet is that America will have a massive welfare state within a couple years. We''ll be a country of hopeless whining victims....deserved or not. The dems and the media will instill this in our mentality and all the while blaming true American ideals as the sad state of current affairs. Half the country will buy the bs, half will not. Vote fraud, handouts, illegal immigration will make the possibility of fixing what is wrong with this country an impossibility. Those that know what works...conservatism...will split from the rest and we''ll be 2 nations again.
If the left doesn''t take issues of vote fraud and media bias seriously, they will be leaving no other options but for the country to split.

[gettin_angry]

Time to vote for Nader.

[gettin_angry]

Is deregulation the same thing as lying to officials and constituents about a problem, attacking the character of people who are trying to ring the alarm bell, practicing partisonship to hide the mistakes, agitating the populace with falshoods of victimization to protect the economic tumor ...all while looting the Titanic as it sinks?
Good try Dems. You may dodge this long enough to win the election but this will come home to roost where it belongs.

[karla532]

Just what we need more debt to give people money/The 1950-1970 period I feel was different we lived differently we saved our money many families had 1 car only every person in the family did not have to have car it was a simpler time does that mean it should stay that way of course not but we have to adjust as well I feel no matter who is elected we are in for a rude awakening we will need to stop relying on credit live within our means and make do without all the bells and whistles all the time I saved forever for my 1st house and still do the same when I buy a new car so my payments are low enough I feel that whichever candidate wins is in for a hot mess. Who do I blame many factions but that is not the point as I tell my daughter yu can either spend days disecting how you got in the mess or move on from here and try to fix the mess I know who my candidate is hoewever in the end I am an American and I will support whoever does win/do I hope it is the person I vote for of course but is that not why we hold elections?

[wolf77creek]

Why should we feel sorry for poor people? How many of them planned a family based on their ability to provide for them. You do not have a family if you do not make enough to feed & clothe them. Look at the amount of people in this country living in filthy, gang ridden neighborhoods, they choose to live like this, welfare breeders, because they have no pride or self respect. There is nothing shamefull about being poor, most of us grew up poor, we did not take welfare, we respected what we did have by keeping it repaired & clean, we did not eat out, we repaired & passed down our clothes. We saved for years to buy something we needed or wanted. We did not allow others to destroy our neighborhoods, we need more law enforcement & military to clean up this mess. Are you poor due to your habits:drugs, smoke, drink, tatoos, piercings ?

[jckbrn-2009]

The free ride is in congress ! ! !
Inactivity, as usual, - or at least until my party gets control - - - in the meantime, you poor taxpayers can just wait.
Unemployement and welfare should be provided immediately following passed drug testing and rejected job offers - -
Those truly needy folks can have my assistance and aid, but those freeloaders should never be carried.

[on_alert247]

I agree it isn''t the poor that is the cause, it is the greedy lenders. But I have trouble distinguishing between government backed lending practices and the democratic members of congress that encouraged bad loans and a lending institution making a risky decision to give bad loans. Dodd, Frank and Obama said it was all about affordable housing. Is it no wonder they were the largest recipients of money from Freddie and Fannie? Sure, its great to help out the poor, but is giving my tax money to them for a home the right answer?

[on_alert247]

Did you ever stop to think that there is something wrong with a system that requires that you work 2 to 3 jobs?

1950 - 1970 were they years of the single wage earner. What happened to that time? Inflation has not matched wages since this time period. Blaming the laborer for the system is attacking the symptom and not the cause.

Posted by curse914 at 11:22 AM : Oct 12, 2008

It is the fruit of ones own labor that brings personal satisfaction. Should you pay a grocery bagger the same as the store manager because the grocery bagger "deserves" a living wage? If you set up a system that doesn''t reward hard work (education and hours worked), you will get a mediocre workforce. My friend observed this first hand living in Sweden and working as a nurse. Hours wasted just talking and taking coffee breaks because it wasn''t their turn to help out a emergency patient. He couldn''t stand it and moved back to the US.

[on_alert247]

You''''re right! Instead, let''''s spend all our money on bailing out corrupt stock brokers and bankers and fighting wars that will never be won.

Posted by jennings501 at 11:50 AM : Oct 12, 2008

Shouldn''t you actually understand the issues before making such a comment?

[pirmin3]

I see the pigs in Congress are ready to step up to the trough again for their bribes from lobbyists. There go more tax dollars down a dry well. Vote EVERY incumbent out of office.

[on_alert247]

I feel very uneasy about the people (Chris Dodd, Barney Frank) partly responsible for this mess trying to find a solution. So far their solution is to pour more of the poison that caused the problem in the first place. The situation is only going to get worse since the 2nd largest recipient of contributions from Fannie and Freddie is about to win the White House.

[jennings501]

Hardworking, law abiding Americans are fed up with allowing tax money to be used to support worthless people
Posted by drivelphobe
*****
You''re right! Instead, let''s spend all our money on bailing out corrupt stock brokers and bankers and fighting wars that will never be won.

[drivelphobe]

Enough giveaways! People have to take care of themselves. We have whole communities of worthless, leeching, entitlement parasites and Pelosi wants even more. This makes me even more resentful of the poor and downtrodden, the homeless and scumbags on the medicaid and welfare roles. If people can''t make it in this country, then they don''t belong here. If you''re born here and can''t make it, you deserve to live in filth and despair. Hardworking, law abiding Americans are fed up with allowing tax money to be used to support worthless people.

[ubu2008]

I think americans in general are lazy today. I hear my niece and nephew talk about being broke, but make no efforts to get a second job are even examine other means of income. When I was a single mother I was flat broke the moment I was paid and only made enough to pay for rent. I did the unthinkable. I got a second job, at times I had 3. I never looked for anyone to solve my problems for me. I knew I was able willing and able to work so I worked. My circumstances improved, my friends who were unwilling to work a second job are still in the same circumstances. They tell me I am so lucky and wish they had similar luck. Luck had nothing to do with it. Getting up a 4:00 a.m. to work 4 hours before I started my full time job at 8:30 and cleaning offices a few hours a week end was the luck that improved my circumstances.

Americans have to learn to sacrifice today for long term gain. It starts at home and goes up from there.

[trillion1]

Put this money into our infrastructure. Create tens of thousands jobs and do a job that should have been done decades ago. Just look at the idiots who are in charge of doling this $700 billion out. The exact same people who let this problem get totally out of hand.

[antoniof123]

Obama is not elected as of yet.The election is just getting started.I hope Obama loses.
Posted by mr22585 at 09:29 AM : Oct 12, 2008

Of course you do but then you are like those people in WI you know the ones that are really mad and call any one who isn''t like them some foul names.

Sorry but you can pray but you were warned in 2006 but didn''t listen so now pay the price.

Yes, the Democrats are going to take over congress completly that is your parties fault.

We gave marching orders to the slave and they didn''t listen. You do know what happens to bad slaves right?

[hypnotoad72]

Its sad to be poor (under 20,000 a year but those who are learned to not get their hopes up. Hard to feel sorry for americans who are not going to be able to have their nails, and spa treatments, men can''''''''t invest in stocks, buy sports cars. when they have a bad day they can''''''''t handle it. Maybe they should see how the other half has lived forever, learn to be humble, more compassionate of each other.

Posted by MNarverud at 08:38 AM : Oct 12, 2008
----

Which class? The middle class is too busy working its butt off, doing what''s been told to them and getting more education, and praying those jobs won''t go offshore either. But I did find a site that suggests IT services isn''t as hot an offshoring commodity:

http://www.deed.state.mn.us/lmi/publications/review/0605/feature.htm

So there IS hope.