Sen. McConnell proposes more Big Government to fix Big Government debacle
Click here for update: McConnell says his “goal is not to kill the bill.”
Where is my Mitch McConnell head-banging graphic? Why did he make me have to dig it up again first thing Monday morning? I can’t take it. I really can’t:
Over the weekend, you see, Sen. McConnell gave the GOP radio address. The subject was the “stimulus.” Generational Theft Act, Crap Sandwich Supreme, Porkulus, Spendulus, Debt Stimulus Plan. Pick your name. It’s all B.S. And Americans know it. Senate debate begins today at 2pm Eastern. On the heels of the House Republicans’ unanimous rejection of the Obama/Democrats’ Big Government package and shifting public opinion against the plan, you might think the Senate GOP minority leader would get a clue:
Big Government = Bad Idea.
But nooooo. Sen. McConnell knows how to extinguish any fledgling flame of enthusiasm among grass-roots activists who were starting to think the Republican Party was returning to its fiscal conservative principles.
Fuhgeddaboudit, people. Sen. McConnell’s grand idea to “fix” the stimulus is to create new, government-backed mortgages.
Is he freaking kidding, you ask? No, no he is not:
Under the mortgage plan, any ”credit-worthy borrower” could get a government-backed loan at 4 percent. Details were not available, but Republicans have talked about having the government guarantee the 30-year loans for a year or two. Thirty-year fixed rates recently have been around 5 percent.
No cost estimates were available for the McConnell plan. Democrats, who will be crucial to its success since they control 58 Senate seats, have not ruled out backing such a plan, but wanted to see more details. The Senate version of the stimulus bill is now costing $889 billion, about $70 billion more than the one passed this week by the House. The increase is largely due to changes in tax breaks.
McConnell estimated Saturday that under his mortgage plan, the average family would see its monthly mortgage payment drop by $466 a month, or $5,600 a year. Over the life of a 30-year loan, that’s a savings of $167,760.
McConnell isn’t just missing a pair. He has misplaced his cerebrum. GOP Sen. John Ensign was also pimping the plan over the weekend.
Question: Why should government be guaranteeing mortgages? Isn’t that what got us into trouble in the first place?
Question: Why should government be setting mortgage rates? Aren’t those supposed to be set by the market?
Question: How can Republicans on the one hand argue that Fannie Mae, Freddie Mae, and other interventions in the housing and mortgage markets were bad and then at the same time propose a doomed policy along similar lines?
Question: Have Republicans learned nothing from the housing meltdown? “Credit-worthy” borrower = anyone with a pulse. Who will pay when these borrowers default on their loans? Taxpayers will.
Question: Who will sell these mortgages? Probably the banks. What incentive do they have to ensure the credit-worthiness of borrowers, since they will bear no risk if the borrowers default? Sounds like a formula for another mega-subsidy to the banks…to go along with all the others.
Question: Why do Republicans continue to believe, as Democrats do, that the number one goal of economic policy should be to prop up housing prices? (Recall McCain’s moronic $300 billion mortgage plan.) Why not let the market determine the correct level of housing prices? Clearly, in many parts of the country, housing prices are still too high.
The proper response by government is to let the market allow prices to decline.
The problem is too much borrowing, too much artificial inflation of home prices.
On what planet should the Republican/conservative alternative be to encourage more borrowing and to prop up prices so they don’t fall “too much?”
This is more of the same old, same old: Kicking the can down the road. Real change — fiscally repsonsible change — means sucking it up, allowing housing prices to fall, and getting the government out of the home-lending business.
What a disaster and — coming from Sen. McConnell — how sadly, utterly predictable.
More than a year ago, I called for the GOP to distinguish itself from the Big Government Democrats running for president and demagoguing this issue. Remember?
The bipartisan meddlers in Washington are going to make the housing “crisis” drag on for a decade when, if they had adopted the suck it up plan in the first place, it would have been over by now.
They’ve learned nothing. If McConnell says one more thing about the stimulus bill being a “Big Government” bill, I am going to puke. He is no position to complain.
Time to flip the elephant over again:
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Trackbacks
- Fiscal Suicide: Et Tu, Charlie Crist? « JoHNBRoDiGaNDoTCoM
- Wizbang
- Mitch McConnell Mails It In For Senate Republicans « The Forum
- Republicans Will Cave On Stimulus (UPDATE) « The Forum
- Discussion of “Shelving” Stimulus « Peace and Freedom Global Future
- Sen. McConnell proposes more Big Government to fix Big Government debacle — But As For Me
- Michelle Malkin » McConnell on Generational Theft Act: “Our goal is not to kill it”
- Of Stoplights and Stimuli | BobMaistros.com
- The Stimulus Package is not designed to save the economy, it’s designed to save liberalism « Jim Blazsik
- Mulkin on McConnell and Big Government « Iowa Defense Alliance
- The Simulus and the Republicans | Political Byline
- Sen. McConnell On Stimulus Package: “Our Goal Is Not To Kill It” « Nice Deb
- Dan Cleary
- From the Who is McConnell Kidding? Dept. « A TowDog’s Blog
- Mitch McConnell, the Democrats’ Best Buddy : The Sundries Shack
- From the Who is McConnell Kidding? Dept. - towdogInCal’s blog - RedState
- Moralia - What she said
- Republican: It’s the New Black « JoHNBRoDiGaNDoTCoM
- Michelle Malkin » McConnell/Graham mortgage entitlement would cost at least $200 billion
- Michelle Malkin » No, no, no: Oppose the disastrous GOP mortgage entitlement
- Michelle Malkin » No, no, no: Oppose the disastrous GOP mortgage entitlement
- Michelle Malkin » Message to Senate GOP: Stop propping up the housing market; Update: Taxpayer groups line up against McConnell/Ensign/Graham mortgage entitlement
- Michelle Malkin » Questions & answers and more questions about O’s massive mortgage entitelement
Comments
You must be logged in to post a comment.
Categories: Subprime crisis, fiscal stimulus
Legal Insurrection
» In The End: No Public Option, No Abortions, No Pelosi, No Reid
The Powers That Be
» Obama: ‘Don’t Jump to Conclusions’ About Ft. Hood; Immediately Jumps to ConclusionsLegal Insurrection
» NY Times Names NamesThe Powers That Be
» A Picture is Worth a Trillion Dollars and Lots of Lost FreedomRiehl World View
» Health Care Bill In A Few WordsPundit & Pundette
» Not a huge victoryJustOneMinute
» Ari Fleischer Needs To Cowboy UpThe Other McCain
» Debunking Frank Rich's NY23 fantasies
Yep, we are just negotiating on price….
TK, with all due respect, the reverse of your statement is true. Governments that fail CAUSE people to suffer.
We’re screwed, 2010.
what a putz. mcconnell obviously hasn’t figured out what to do with the balls mm and co. have been sending him. perhaps he needs to get a backbone injection from mr steele.
I agree. We have a government, now, that is completely out of control. It’s nothing more than a “feeding frenzy” on both sides of the political aisle. When there are no restraints, government will run amok. That’s how tyrants come to power, or has everyone forgot, or never learned, their history?
I kind of feel sorry for Bill Grant. He still clings to some delusion that any of the GOP Senators care what conservatives think.
At some point tenacity becomes obsessive compulsive. After 30 years of supporting the GOP I have decided to give up “obsessive compulsive.” The elephant is not simply inverted. It is deceased.
And just as someone commented about the Porkulus bill, the longer it’s out in the sunlight and we see the antics and the beliefs of the Republican “leaders”, the more it stinks.
Question for Senator McConnell;
Are you really as stupid/dense/lame/out-of-touch as you appear, or is this just an act, whose purpose is to help your fellow B.O.R.E.’s (Bent Over Republican Elitists) better get along with the clueless Lamocrats?
This IS NOT leadership. This is
cowardicecollusion!The obvious answer, after the last 8 to 12 years is “yes.” Senator McConnell IS that stupid/dense/lame/out-of-touch.
If he weren’t he would have made some fundamental changes after the GOP got its butt kicked in 2006. But he and the rest of them just went on exactly as before. Calling them “stupid/dense/lame/out-of-touch” is probably kind.
On February 2nd, 2009 at 2:15 pm, Bill Grant said:
For me, sure, but we’re not getting anyone on the Republican side that will actually DO that. We’re always asked to vote for someone who will just do it more slowly – which can be more dangerous than someone who’ll try to bite it all in one gulp.
Get some real conservatives to challenge these morons like Mitch McConnell in the primaries. Find me some people who will stand up to collectivism now, during the primaries, and I’ll give money to them.
Luckily I am in a state that has some great representation and governor. I’m actively working to find someone to oppose those that are on the wrong side.
So give us a name in your state. Do you have any collectivist-Republicans right now that need to get tossed? Who would you support against them?
Give me a name or two to support, not just a name or two to call and yell at when there’s monstrous legislation like this bailout bill – because frankly yelling at them hasn’t done much good.
The GOP is about to become irrelevant on the national scene. It looks like the defining issue will be socialism.
The GOP will go the way of the Whig Party who essentially punted on the defining issue of the 19th century which was slavery.
I don’t know if this will happen in 2 years or 10 but I believe it will happen. The GOP has refused to offer a coherent plan to oppose socialism which can only destroy the nation. In fact, the GOP is now largely a willing participant in installing a socialist system.
The nation doesn’t need two socialist parties and the Dems are better at it anyway. Therefore, the GOP will eventually wither away just as the Whigs did. It is virtually inevitable.
It’s all over for this once great Republic. The Republicans are inert and worthless and the country is quickly sliding into socialism/communism. Nothing short of a sustained conflict can save this poor sick nation.
“An autopsy of history would show that all great nations commit suicide.”
– Arnold Toynbee
Here’s Mitch McConnell’s phone number 866-956-9161 – call him and tell him why we expect leadership from him to unite senate republicans against this “Generational Theft Act”
Economists who think this bill is a huge mistake.
On February 2nd, 2009 at 4:32 pm, FilmLadd said:
So you have called up Mitch McConnell’s office and made your opinions known.
Well, aside from that being false what have you done to demand that they do so?
No, what we are asking is that someone else handle it and if they turn out to be imperfect we toss our hands up and let the “Obama-bot Force” have their way or the “moveon.org” creeps.
To adopt your lame analogy I am talking about spitting back and you are talking about letting yourself be force fed like a Foie Gras goose.
And that will do what now? Our options are whittled away to this. Such is the price for losing elections.
There is no such thing as a perfect candidate. Holding out for one has become another excuse to do nothing.
And who would they be? (Brace yourself, a spin around Google will show where they have been called a RINO here.)
The change is going to have to start with us. I recommend that you or anyone else goes out and picks up a copy of Rules for Radicals. It shows what they did, how they did it and what can be done to roll it back. The thing is nothing is going to get done until we decide to do it and making a pest out of yourself is at least a start. Otherwise it is just impotent frustration and meaningless chest thumping on the internet… Meanwhile the other side is eating our lunch.
There is no cavalry coming over the hill to save you. There is no single person who is going to do it all for us. Sorry, if you are waiting for that you are completely SOL. Even if there were, from what I have witnessed, they would need the help of a constituency that has gotten flabby with complacence to go up against a well organized, well funded leftist machine that can rely on the participation of people who don’t insist on everything being perfect before they roll up their sleeves…
The thing is, there IS monstrous legislation that needs people to start yelling at the moment. There will be more coming. We are in a fix that is partially of our own making and the costs of doing nothing are increasing exponentially.
It stopped the amnesty. That really is the only time we have tried.
On February 2nd, 2009 at 4:58 pm, Danceswithdachshunds said:
YES, I am with you weinerdog!
After 177-0 in the House, any Republican Senator voting for this thing
=Deer Caught In Headlights
GOP=Whig
One treasonous party was enough.
On February 2nd, 2009 at 5:41 pm, Virginia Patriot said:
Virginia Patriot = DNC sockpuppet.
Cry about it.
Bill,
Boo!
Bill Grant, you are too good for us, and too good for this web site. The only solution is for you to start your own blog. I’m sure I speak for all of us in saying that we’ll offer you any assistance you need in getting set up.
On February 2nd, 2009 at 5:48 pm, Virginia Patriot said:
You forgot the “-hoo-hooo…waaah!” part.
On February 2nd, 2009 at 5:48 pm, flenser said:
And?
Gee, assistance from flenser… Is that the difference between getting it in the front or getting it in the back? What issue did you have with what I wrote, blubber cutter?
I think the right name for the $1 trillion power grab by our federal leaders should be the vampire plan. After all, these idiots will suck the life blood out of the private sector and leave us with no improvement and another massive increase in the debt which will devalue the dollar and lead to rampant Carter level inflation.
At this point, I am predicting a 10 to 12 percent unemployment rate into the foreseeable future — and that the welfare addicts will love it.
Maybe these guys are afraid of the media…look at this gem from yahoo with the little promise of millions of jobs, if the spending bill, i mean stimulus bill is passed.
http://news.yahoo.com/s/ynews/ynews_ts233
While the GOP is bending over, it seems the Democrats in the house are finally getting fed up.
http://thehill.com/leading-the-news/democrats-warn-leaders-to-resume-regular-order-2009-02-02.html
So long as the Republicans run interference for the liberal one-world Democrats, we have no choice but making RINOs our number one target. In war, special venom is reserved for traitors.
The RINOs see 2010 coming and are terrified that their “bipartisan” strategy was so easily derailed by last week’s House vote on the Crap Sandwich. It took two ugly Congressional elections for the House to get the message but they seem to have gotten it…finally.
Our work is only starting in the Senate and they see it coming… and we are coming.
If you noseholding McCain supporters want to restore the GOP to power, help us purge the party of traitorous RINOs. We would love to be attacking liberal Democrats but RINOs keep stepping in the way to take the bullet. So let’s keep shooting until we run out of RINOs and can focus on the main targets.
Had you nose-holders gotten your wish getting McCain elected, he would now be cramming the same crap sandwich down our throats. What then would you be arguing? Face it, we are in a much stronger position fighting for conservative principles with Obama in office than McCain. Get with the program.
If you are looking for the company of fellow RINOs, I recommend RINO Central also known as “Townhall”.
Here’s the link: http://townhall.com/blog
Knock yourselves out. And check out their sitemeter. Their audience has cratered. They need you.
Now let us conservatives have an intelligent discussion.
What is your issue with Townhall? Perhaps I missed the memo.
Outside of also hosting Michelle’s articles, they host a bevy of other very un-RINO columnists. Is it just the blog with which you take issue?
The bureaucracy is expanding, to meet the needs of an expanding bureaucracy.
Salt said:
Read the comments. Townhall had a major purge of conservatives. If you think Medved, Hewitt, Lewis and the rest are anti-RINOs, I rest my case. They went 100% hate-mongering and race-baiting after McCain secured the nomination and went out of their way to toss the very same ugly arguments at us conservatives that liberals always use to attack us. They are just a Republican site regardless of what the party stands for. If you disagree, fine. I see several commenters here who know what I’m talking about.
As to the columnists, they are NOT Townhall exclusive and get the vast majority of their audience elsewhere. I am referring to the blog area.
Good link on the letter to Dem “leaders”-from 50+ Dems, goes to show how sticking together and standing on principles still works politically- even for a Republican minority!
On February 2nd, 2009 at 8:44 pm, Pasadena Phil said:
Unbelievable.
I’m sensing a little bit of hostility. It was just a question.
That’s all I wanted to know. I typically go there for the handy links to the columnists. I wouldn’t include Thomas Sowell in your list of RINOs, certainly.
On February 2nd, 2009 at 10:25 pm, Salt said:
That makes you a closet RINO. A RINO sympathizer maybe.
I’d like to know what the new definition of “credit-worthy” will be for people to qualify for these loans. I’ve tried to refinance with three banks for a lower rate and not one has been interested unless I’m at least 3 payments in default.
Also, thanks to foreclosures my house is worth about $30K less than what I owe and $100K less thn what I paid 1.5 yrs ago. No bank will refinance a house worth less than the loan itself, and there must be a lot of people in the same boat, incluing those who took out huge equity loans a few years ago. Will the government start performing special government-backed appraisals as well to ensure that more people can qualify?
Who will benefit from these 4% loans unless “credit-worthiness” is redefined by the government, for government-backed loans, like “only one foreclosure” or “only one bankruptcy” qualifies as still having “good credit”?
The local news here had a call-in poll tonight.
Poll question: Would would vote for Obama’s stimulus package if given the chance?
There is hope people(this is lib-land)!
80% said NO!
Main reason given: full of pork, and not stimulus!
Bill, I have David Vitter and Bobby Jindal in my state. The one I am trying to get out of representing LA is Mary Landrieu, a true eltist collectivist if every there was one. And yes I have contacted Mitch McConnell and quite a few other representatives. I yell at them, send emails, letters, etc.
But yelling at some intern weinie on the phone doesn’t do much good. Certainly not as much as running someone AGAINST their boss. That hits them where it hurts.
So please, get over the anger you have with people who point out these fifth columnists, the emperors without clothing.
There is nothing wrong with someone like Malkin pointing these things out… unless you believe that all reportage must be self-censored to protect the Republic.
If our Republic needs lies, deception and the deafening silence of self-censorship to elect fifth columnist collectivists in order to survive, then maybe it deserves the dustbin of history.
NOW is the time to find people who will run against the collectivists in the primaries. Not next year or the following. Now.
And also while you’re at it, can you get over your Erich Fromm-ian need to control other people? It’s irritating.
McConnell says his goal is not to kill the bill….Wrong, your goal is to rally the repubs to get out of this bill’s way. The democrats don’t want to sign it without the republicans. Let them do it moron!! Make them take ownership of it. American knows now, it is a bad bill.
McConnell, you represent the Republican party that left me. I have not left the party as I knew it.
I figure at this point the Democrats are so efficient at screwing the nation maybe I need to vote for and support them to ensure the super-majority persists long enough to utterly destroy this nation so that the Democracy finally dies as history insists it must. Getting over the agony quicker does have its proponents. It hurts for a shorter time to peel off the bandages rapidly than slowly.
McConnell, tell me why I should not just give up on the country of my birth even though it has morphed to a huge nanny-government state at the hands of you idiot Republicans and the kings and queens of corruption, the Democrats?
On February 3rd, 2009 at 8:36 am, FilmLadd said:
Jindal has been booted around as a RINO here. Not sure about vitter.
Best luck.
Good. That’s a few of us.
It’s a start. It is also what we are down to.
My point was that things are going to get worse until “conservatives” get moving. You, Danceswithdachshunds and I are not going to be able to a whole lot but everyone calling, writing, etc will. It has before. The other side is organized to do it and where moveon.org is running ads the calls are about even. (At least in Maine)
Fantastic. Absolutely. I agree. However there are pressing problems at the moment and whomever you run to replace Landrieu will eventually let you down in one fashion or another. Do you toss up your hands on person X or even better, toss up your hands on the party? What if person X doesn’t get elected? What if the people chose Landrieu again? Whose fault is that? The party’s or democracy?
Not quite what has been “pointed out” here. What Malkin is doing is trying to divorce conservatism from the republican party. The 2 together are stronger that both apart. Divorce conservatives from the GOP and the GOP will turn left to stay alive. That will drag the country left faster than any obamamessiah could and we will have done it to ourselves. (By indulging perpetual temper tantrums.)
Nothing at all. Or Kos for that matter. I am just pointing out the ramifications of what is being advocated. (Over and over…during the primaries, the election, the defeat, the effort to stop the democrats from entrenching their power…. A hysterical hate vendetta in the name of conservatism that has the end result of enabling everything that conservatism is supposedly against.) But no, she has a right to say whatever she wants and a right to pull the plug on my commentary at any moment. I fully recognize that.
Sure.
Well firstly, Erich Fromm wasn’t about “controlling other people” from what I have read but I have often thought of “Escape from freedom” when I read some of these posts. Secondly, who is trying to control whom here? I posted some contact information and got a lot of BS for it. If that intimidating to your beliefs perhaps you should reexamine what you want to believe. It might be a rationalization.