Cantor Suggests Canceling The Rest Of The Stimulus
Cantor Suggests Canceling The Rest Of The Stimulus
One of the most bitter opponents of the economic stimulus package is House Minority Whip Rep. Eric Cantor (R-VA), who has repeatedly claimed that the stimulus is “failing.”
Yesterday in an interview with CNBC’s Erin Burnett, Cantor floated the idea of canceling the rest of the economic stimulus and using the money to pay off debt:
CANTOR: Since we know now that the Stimulus has not met the criteria by which it was passed and the White House promoted it, which was to stave off job losses and to stop unemployment from reaching above 8.5%, since we know it’s been a failure, why not do the responsible thing, which is to take the $400 billion that has not been committed yet – or not been spent, but been committed to the stimulus – and just pay off the debt and deficit so we can get our fiscal house back in order?
Watch it:
While Cantor might think that he can score political points by posturing on the stimulus, his constituents continue to benefit from its funds. Last month, Cantor hosted a job fair in Midlothian, VA, where the economic recovery package created dozens of jobs. Additionally, Chesterfield County, where the fair was being held, will receive more than $38 million in stimulus funding over the next two years. Were that money to be paid towards the national debt instead, tens of millions of dollars would have to be taken away from promised funding for higher education, special education, food stamps, and other essential public goods.
Sen. Jon Kyl (R-AZ) made the same suggestion last July, despite the fact that his state has received billions of dollars in stimulus funding that has provided much-needed relief to Arizona’s health and education systems.
While conservative members of Congress continue to slam the stimulus — even while hypocritically touting its effects in their own districts — the Wall Street Journal reports today that the stimulus appears to be “helping the US climb out of the worst recession in decades.”
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What a dirt-bag! He has taken PLENTY of stimulus cash! What a hypocrite. Are his constituants this stupid? I guess they are!
September 2nd, 2009 at 9:54 amCANTOR: Since we know now that the Stimulus has not met the criteria by which it was passed and the White House promoted it, which was to stave off job losses and to stop unemployment from reaching above 8.5%,
8,5% went did he say that,,, I mean every thing i have seen or hear he (the president) has said that things will get worst before they get better,,,,
shaking my head this guy is a jerk of the 10th order.
September 2nd, 2009 at 9:59 amCan’tor:
why not do the responsible thing, which is to take the $400 billion that has not been committed yet – or not been spent, but been committed to the stimulus – and just pay off the debt and deficit so we can get our fiscal house back in order?
“Pay off the debt”? With stimulus money? Is he serious?
Well, in truth, that’s what he’s saying on the outside.
On the inside, he’s undoubtedly screaming, “FOR GOD’S SAKE CANCEL THE REST OF THE DAMN STIMULUS BEFORE IT KILLS THE REPUBLICAN PARTY!!!
See, this is why Republicans don’t solve problems for the rest of us when they’re in power. Either they’re suspicious of clear-eyed analysis of objective reality, or they are just single-mindedly focused on what is good for the Republican Party.
September 2nd, 2009 at 9:59 amI suggest canceling Cantor.
September 2nd, 2009 at 10:00 amThis doesn’t suprise me. Nothing does anymore. People thinking Obama wants to kill Granma. Rumors Dick Cheney is going to run for office. Blago’s book a number 1 bestseller. Michelle Bachman… Now I’m waiting for the Rapture.
September 2nd, 2009 at 10:00 amOnce this gets on fix news (it probably already has), it will become the new mantra for the right wingnuts…
September 2nd, 2009 at 10:01 amWhen Cantor says, “since we know it’s been a failure”, it reminds me of when Trent Lott said that we needed to elect Bob Dole and Republicans to “get our economy back on track”. Only thing is, he said this during the election of 1996, when our economy was booming.
It’s one of their favorite techniques. It’s not enough just to lie. Saying “the stimulus has been a failure” is a lie. Saying “the stimulus hasn’t created a single job” is a lie. But saying “since we know it’s been a failure” is implying that the lie is an accepted truth, when it is not.
But the gullible will absorb that and parrot it to others as “everybody knows the stimulus has been a failure.” And this is exactly what the talking heads are counting on.
September 2nd, 2009 at 10:03 amtexas@6, Yeah. Along with Rick Perry’s secession movement. Funny. I love how these people claim to hate the Government, yet, they love the benefits like ‘Medicare’ and ‘Social Security’. And what happens if Texas secedes? No National Guard, no FEMA, no FDA. Jesus! These people are truly nuts.
September 2nd, 2009 at 10:05 amCantor isn’t concerned about the failure of the stimulus. He’s very concerned that it’s succeeding. So naturally, he wants to put a stop to it before too many people realize that.
And I’m not fooled for one second about his desire to pay down the debt. The only reason he might want to do that is to create a dip to justify more tax cuts for the rich.
No thanks — we’ve already been there, done that.
September 2nd, 2009 at 10:07 amIsn’t it funny that when the President was Republican and wanted to spend billions of dollars to invade and occupy a country that had not actually attacked us, there was no bleating about the deficit. But when the President is a Democrat who wants to spend billions to actually help ordinary people, suddenly the deficit is a constraint.
September 2nd, 2009 at 10:08 amFrom todays Think Fast:
Take that Cantor and jam it were the truth never emerges, between you ears.
September 2nd, 2009 at 10:11 amEric Cantor is talking with his little Britney Spears. He has fallen in the polls and needs to say something because he needs the attention. Like the rest of the GOP, Cantor is using this as a front while he uses the Stimulus money and works to get Israel more tax dollars.
September 2nd, 2009 at 10:12 amSo doesn’t this type of comment just show that Republicans like Cantor don’t have the faintest idea of what they are talking about?
Especially in the face of the article in Murdoch’s right-wing rag WSJ today where the Stimulus bill was actually named as the driver for improving economic growth?
Who is going to step-up and call him on it?
The media? The Dems? The WH?
COME ON, PEOPLE!!!
September 2nd, 2009 at 10:13 amOf course, the stimulus is working. If nothing else, it has allowed states to back-fill programs and initiatives that it would otherwise have cut at great loss in jobs and service. This is the “dirty little secret” that the republicans are trying to hide. Eight years of GDumbya has put us in a deep, deep hole.
However, I think we should apply the republican mantra at a state-level. The republicans are always complaining about “transfer of wealth”. Well, I am sick and tired of it as well. It’s time to cut back on Federal aid to states that are net “revenue-takers” (that is, they take more Federal funds than they produce in Federal taxes). These are generally the red states of the south and west.
It’s time to cut off the likes of Bobby Jindal. They need to learn about “self-responsibility” and “financial freedom”.
September 2nd, 2009 at 10:14 amdixie, you say that as if Cant’or were capable of recognizing data or analysis that contradicted his pre-recorded worldview.
Such a condition is not possible for a Republican official.
September 2nd, 2009 at 10:15 amTypical, another two faced Repuglian liar. Demanding one thing but begging for more under the table. What a hypocrite. I think what every person who has the misfortune of having a Repuglian congress person representing them should do is do an immediate recall. Get the signatures on a petition to cancel their so called ‘representation” The only people they are representing are the K streeters and their own pocketbooks.
We the people of the United States Must on occasion stand up and shout the bums down and out. If you are not clever enough to know who the bums are, just crawl back under your rock.
September 2nd, 2009 at 10:16 amIna ddition to previous comments:
Benefits (=spending) does not equal success. The money needs to come from somewhere, and that means it hurts as well.
Besides; I don’t think that it’s unacceptable to be against a law and have the own constituents profit by the same law. It would be irresponsible if the own constituents were paying for their share of that law but got no benefits.
There’s no hypocrisy as long as he’s ready to accept both advantages and disadvantages of a change.
“and just pay off the debt and deficit”
Now that’s garbage. Both debt and deficit are much bigger than $ 40 billion. He’s misleading with his inaccurate choice of words.
“and just REDUCE the deficit”
September 2nd, 2009 at 10:17 amwould have been right (as you cannot in sum pay off debt as long as you’re still running a deficit).
While I applaud Obama’s loyalty, unlike Shrub’s, it is high time to fire this person and put a Krugman-like Keynesian in his place.
September 2nd, 2009 at 10:22 amAnother from TP’s ThinkFast:
Sooo…Cantor…jam this in your ear too, moron.
September 2nd, 2009 at 10:22 amCan’tor Can’t.
This should be the election slogan of whomever runs against him.
September 2nd, 2009 at 10:22 amI’ll repeat what I said a long time ago:
There is no 24 second clock on this administration.
Give these guys some time to make this work. Didn’t the freaking unemployment rate stabilize last month? Is that not some evidence that the stimulus is not a failure?
September 2nd, 2009 at 10:23 amWe know Eric Cantor has been a failure, so why not do the responsible thing and vote him out of office next year.
September 2nd, 2009 at 10:26 amSome caterpillars
September 2nd, 2009 at 10:27 amHave no butterfly inside
Creepy empty shells
Somebody throw this guy a copy of the Wall Street Journal, normally his favorite paper, and tell him to read that the stimulus has saved the U.S. economy and will be the sole reason we have economic growth next quarter.
http://www.political-buzz.com/
September 2nd, 2009 at 10:28 amYou misunderstand the principle of deficit spending in recessionary times.
With the private sector contracting it economic output, the only element of the economy capable of borrowing heavily enough to affect the GDP in a positive way with spending is the government.
Republicans have it exactly backwards; they wanted to go into debt to finance a war, which may be a necessary expense (although not in this case) but does not promise any kind of ROI. Now they want to focus on that debt burden in a contracting economy, even though such deficit spending on infrastructure is designed as an investment that should lead to greater economic growth in the future.
Except that’s not what Cantor and Jindal and the rest are doing; they are condemning the stimulus as “a failure” on the national stage, and then going back to their districts and handing out giant novelty checks for projects funded by the stimulus, and taking credit for the money.
That’s a little bit different from “be(ing) against a law and hav(ing) the own constituents profit by the same law.” Seems to me that an honest politician, if his constituents benefited from a measure, would at least acknowledge that truth. These guys are denying it.
September 2nd, 2009 at 10:28 amReps on the stimulus “Everyone sees that it is obviously not working so we had better scrap it”
In plain speak “Holy shit Batman the stimulus is working and faster than even economists expected. That’s BAD for Republicans. We should scrap the stimulus, maybe give it away as tax breaks to the wealthy.”
Reps on Health Care reform “In the spirit of true bi-partisanship we should press the reset button and restart negotiations”
In plain speak “Holy shit Batman the Dems are calling our bluff and going it alone. This is unacceptable because we all know that a public option will be a HUGE success and catapult the Democratic Party even higher. We better try to throw a wrench into the plan at all costs.”
Reps on torture investigations “Yes lines may have been crossed but it was all in the name of national security. Why look backwards? Investigating alleged torture would undermine the good men at the CIA”
In plain speak “Holy shit Batman, they named a special prosecutor. This is unacceptable. We all know that if they start questioning CIA grunts that the evidence will clearly lead uphill to the VP’s office.”
September 2nd, 2009 at 10:29 amIs Cantor stupid or lying or both? How would using borrowed money work to pay off debt? If that’s the case then lets borrow $11 trillion and pay off the entire federal debt. Que, no?
September 2nd, 2009 at 10:29 am
Any governor (especially “fiscally conservative” ones) that blasts the stimulus as excessive should have all their stimulus funds immediately cut off, and they should be sent a bill for the funds they’ve already spent.
It’s the only fiscally responsible thing to do, right?
September 2nd, 2009 at 10:33 amDoesn’t that punish all the people in the state, including those that worked hard and voted for progressives?
September 2nd, 2009 at 10:35 amAs this is basically an If…then type argument, if the “If” condition is false, then you can ignore everything that follows.
First clause, “Since we know now that the Stimulus has not met the criteria” is false.
This is a basic item in computer programming.
Even more, this is a basic item in logic that goes back to Aristotle and certainly before.
September 2nd, 2009 at 10:36 amSadly, this clown is entrenched. He’ll remain in that seat until:
a)He runs for senate/president and gets his ass handed to him
September 2nd, 2009 at 10:37 amb)He becomes (cringe) majority leader or speaker and the national media take note of what a clown this guy is and he gets cancelled
c)He retires a senile clown in 40 years.
agreed, maple
E = Economic Stimulus
IF E Success THEN
-cantor’s nonsense-
ELSE
-reality-
END IF
Since E = Success, -cantor’s nonsense- is never read
September 2nd, 2009 at 10:39 amIt never ceases to amaze me how the people who live in the worst states vote Republican. Red States have the worst enviromental records, the worst educational standards, the worst obesity rates, and the lowest paying jobs. What gives? I don’t get it?
September 2nd, 2009 at 10:41 amlol, the not equal sign was read as a tag and stripped from my VB code above
should read IF E ‘is not equal’ to success
I should have written it in Java or C#:
if(E!=Success){
September 2nd, 2009 at 10:41 am-cantor’s nonsense-
}
else{
-reality-
}
Cantor insinuates the ONLY reason for the stimulus was to stop the unemployment numbers from increasing beyond 8.5%. By that faulty criteria, it has been a “failure”.
All thinking Americans realize that jobless numbers are only one facet of the entire stimulus objective, and history shows job recovery always lags behind improvement in other areas of the economy.
It is obvious Repubs are terrified the stimulus is actually working, so of course it MUST be stopped.
September 2nd, 2009 at 10:42 amChuck Feney says:
Is Cantor stupid or lying or both? How would using borrowed money work to pay off debt? If that’s the case then lets borrow $11 trillion and pay off the entire federal debt. Que, no?
Can I pay off my Visa with my MasterCard?
September 2nd, 2009 at 10:48 amCantor hadn’t gotten any press lately so he had to say something to get noticed. Something stupid that is.
September 2nd, 2009 at 10:54 am@#11Dixie – Amazing! The Wall Street Journal is part of Rupert Murdoch’s empire and he let a POSITIVE story like this be printed?
September 2nd, 2009 at 10:54 amAll thinking Americans realize
^Here’s your first mistake. Americans don’t THINK. Hadn’t you noticed?
September 2nd, 2009 at 10:54 amYes, cancel it now before it creates any more jobs! I’ll just tell the unemployed folks folks back home Obama is trying to turn them socialist, then make them gay marry, then kill their elderly and infirm, and finally take their guns and force them to worship Allah.
September 2nd, 2009 at 10:55 amCan I pay off my Visa with my MasterCard?
Yes. But you’ll still owe the whole balance, just to a different company. It’s nothing more than a wasted check, really.
September 2nd, 2009 at 10:56 amWELL…WELL…WELL…
Just look who has crawled out from under a rock…PinHead Cantor himself!
He’s back! He’s rested! He’s ready to spew his stupid crap!
…and just when you thought it was safe to go outside…
HE’S BACCCCKKKK!
September 2nd, 2009 at 11:03 amAh, the march of idiots continues…
Once again, Q1 GDP was -6.9%, Q2 GDP was -1% that is a 5.9% improvement on $14 trillion GDP. This improvement was due, in large part to the stimulus.
But I know, facts and reality are the not the friends of conservatives and/or Republicans.
September 2nd, 2009 at 11:05 amsmidget says:
Can I pay off my Visa with my MasterCard?
Yes. But you’ll still owe the whole balance, just to a different company. It’s nothing more than a wasted check, really.
My comment was actually tongue-in-cheek ;)
September 2nd, 2009 at 11:08 amP.D. says:
It never ceases to amaze me how the people who live in the worst states vote Republican. Red States have the worst enviromental records, the worst educational standards, the worst obesity rates, and the lowest paying jobs. What gives? I don’t get it?
It’s quite simple actually…..Just play the jeebus, gun, abortion, gay marriage and fear cards over and over.
September 2nd, 2009 at 11:11 amExit Stage Left says:
smidget says:
Can I pay off my Visa with my MasterCard?
Yes. But you’ll still owe the whole balance, just to a different company. It’s nothing more than a wasted check, really.
My comment was actually tongue-in-cheek ;)
Does that make Can’tors ‘tongue in ass’?
September 2nd, 2009 at 11:12 amI suggest we cancel Cantor.
September 2nd, 2009 at 11:17 amI know this would have been pure fantasy even back in February, but seeing how hypocritical some repubs are being now, I wish the prez would have said, “Tell you what, any congressman who doesn’t believe the stimulus will do any good, just sign this waiver that you don’t want any for your district. Let’s see how that works out for you”.
September 2nd, 2009 at 11:21 amoops! Uncle Ho, we were on the same wave length. Sorry for the repetition.
September 2nd, 2009 at 11:21 amSmidget @ 39 says: “Americans don’t think”
While I agree that a frightenly large number dont seem to think things through, most of the people that post at this site offer the hope that there are SOME folks left that do.
Peace!
September 2nd, 2009 at 11:22 am#33 – P.D.,
They also have the highest divorce rates, highest teen pregnancy rates, highest school dropout rates, drug abuse and alcoholism, and highest violent crime rates per capita.
September 2nd, 2009 at 11:27 amI saw where Floriduh may need 1.1 billion so send your stimulus money there Cantor
September 2nd, 2009 at 11:27 amRepublicans as fiscally conservative is a myth. This guy is such a putz.
September 2nd, 2009 at 11:28 amSave the hillbillys — abolish lobbyism.
September 2nd, 2009 at 11:32 amHave the state of Virginia voluntarily send back or not take anymore federal money? Call his stupid bluff.
September 2nd, 2009 at 11:36 amIt’s an option. Debt reduction is an admirable goal.
The economy has been stabilized, but there is a strong argument that reversing the stimulus could reverse the current stabilization; similar to how Roosevelt’s premature focus on balancing the budget may have resulted in the Roosevelt recession:
http://en.wikipedia.org/wiki/Recession_of_1937
Eventually, we will have to address deficits and the debt. Doing it too early could result stalling the ongoing recovery.
Now doesn’t seem to be the time.
September 2nd, 2009 at 11:45 amNo it’s not. It’s the stupidist thing I’ve ever heard a person say.
Use borrowed money to pay the debt? Is that really what you want to call an “admirable goal”?
September 2nd, 2009 at 11:48 amCantor says the stimulus is not working and yet Murdoch’s WSJ says that it is. Who are going to believe?
It must very frustrating to be a party of nothing. They have nothing to contribute and nothing to say but NO. All that negativity seems to be getting to them because they all seem to be going bat $hit crazy.
September 2nd, 2009 at 11:50 amOh, Jeezus H. Christ on a pogo stick, b-cup. Give it a rest, okay?
When we criticize Cantor’s suggestion of debt reduction at this time and in this context, WE’RE NOT CRITICIZING THE CONCEPT OF DEBT REDUCTION.
Got it?
September 2nd, 2009 at 11:51 amAlthough, b-cup, I must acknowledge your willingness to accept the idea that deficit spending can be a useful strategy in combating contracting economy.
As I recall, that took a good bit of convincing to get you there, but you seem to be on board now.
September 2nd, 2009 at 11:53 amI wish backup had participated in the “cash for clunkers” program. He might have gotten a vehicle that actually had more than a reverse gear, which might have led to more straight-forward posts here at TP.
But then, maybe not.
September 2nd, 2009 at 11:56 amMisscoleoptera and 33. P.D.
The best explanation I know of as to why those disenfranchised from society are also the states which vote repub – Basically, those outside of society look at the wealthy and, wanting to be wealthy and in power themselves, form an attachment to the wealthy and powerful.
And the repubs are all about wealth and power. So you set up a belief / obsession that if you just espouse the repub values, you too will become the wealthy and powerful.
Kind of like the weakest person who keeps a flag on their rascal scooter and gets the biggest, baddest truck.
September 2nd, 2009 at 12:06 pmbackup, debt reduction may be an admirable goal but it may be a disastrous tactic.
As it is now.
September 2nd, 2009 at 12:07 pmThe dynamic could also be the reverse of your postulate. The poorer, more poorly educated states might get that way BECAUSE of the conservative policies that promote income inequality and look down on education.
I mean, after all, if conservative policies were so beneficial to society, wouldn’t you think that after a certain period of time, those states that embraced conservative policies would begin to benefit from them? Sooner or later?
September 2nd, 2009 at 12:11 pmralph. I did change my mind on that. In large part due to a conversation we had about it.
September 2nd, 2009 at 12:16 pmMarie says:
no problem
September 2nd, 2009 at 12:20 pmExit Stage Left says
I know it was tongue-in-cheek. Our resident trolls probably don’t know it, though.
Tongue-in-cheek or not, it is the perfect analogy to what Cantor is suggesting – paying off a debt with borrowed money. If you have decided that you don’t need all the money, you just give it back, so it doesn’t add to the debt in the first place.
buffalo nickel says:
I get the distinct feeling, though, that the thinkers are in the minority. If not the minority, then definately in the quieter of the groups, as the only people you ever hear from anymore are morons with Hitler signs and assault rifles telling us to read the “U.S.S. Constitution” to learn why the government needs to stay out of Medicare.
But regardless, tying back to your cheeky analogy, what Cantor is actually suggesting is paying off a $50,000 Visa bill with a $2,500 MasterCard. Not only will it not even make a dent, but all it will do is transfer balances from one debtor to another, and frankly, older debt is likely to have lower, more stabilized interest rates than newer debt (depending on how it’s set up – I won’t pretend that I fully understand how the federal debt is structured), so it appear as though his plan would do more harm than good.
September 2nd, 2009 at 12:21 pmFormatting errors abound. Don’t know how. Repost:
Exit Stage Left says
I know it was tongue-in-cheek. Our resident trolls probably don’t know it, though.
Tongue-in-cheek or not, it is the perfect analogy to what Cantor is suggesting – paying off a debt with borrowed money. If you have decided that you don’t need all the money, you just give it back, so it doesn’t add to the debt in the first place.
But regardless, tying back to your cheeky analogy, what Cantor is actually suggesting is paying off a $50,000 Visa bill with a $2,500 MasterCard. Not only will it not even make a dent, but all it will do is transfer balances from one debtor to another, and frankly, older debt is likely to have lower, more stabilized interest rates than newer debt (depending on how it’s set up – I won’t pretend that I fully understand how the federal debt is structured), so it appear as though his plan would do more harm than good.
buffalo nickel says:
I get the distinct feeling, though, that the thinkers are in the minority. If not the minority, then definately in the quieter of the groups, as the only people you ever hear from anymore are morons with Hitler signs and assault rifles telling us to read the “U.S.S. Constitution” to learn why the government needs to stay out of Medicare.
September 2nd, 2009 at 12:23 pm“But I don’t feel better. I don’t want to take the rest of the medicine. I don’t like medicine. If the medicine works, then Mommy will like the Doctor more than she likes me…”
WATB Supreme, with cheese.
September 2nd, 2009 at 12:41 pmThese idiots are still fighting like crazy to stay in the twentieth century. If they could go back to the stoneage they might be happy. What a group of idiots completely devoid of ideas, solutions, explanations, or the ability to admit they failed while in the majority. Why would they think that we, the majority who voted them out, want their advise. The GOP is riddled with failure in all facets of governance.
September 2nd, 2009 at 1:13 pmI called the Chesterfield Board of Supervisors and asked them if they were okay with forgoing the 38 million over the next two years. They did not seem as willing to give up the money.
September 2nd, 2009 at 1:36 pmDemocrats passed the stimulus, Republicans whine about it, but take credit for it when they’re amongst their constituents.
September 2nd, 2009 at 2:32 pmU.S. National Debt: $11.4 Trillion and growing out of control.
And no jerk offs, I have never approved of out of control deficits no matter who was in the White House. Get your mind right.
September 2nd, 2009 at 3:20 pmFunny, kwsventures, I don’t recall a single instance of you on these boards griping about Bush borrowing money to fight wars of choice overseas.
Not a single instance.
Can you refresh my memory?
September 2nd, 2009 at 3:24 pmkwsventures says:
You are a liar and a fool. I didnt expect anything else from a piece of filth troll like you.
September 2nd, 2009 at 5:25 pmI’m sure that this has already been noted on the thread; Why don’t we just cancel the rest of Cantor, instead?
Send him home, call a special election and disallow any further candidacies from Cantor until he fracking grows up. Since he may be incapable of that, we shouldn’t see him again.
September 2nd, 2009 at 7:07 pmCantor, how about canceling the rest of your term.
September 3rd, 2009 at 2:39 amI say we cancel all of the repugs that keep running their mouths and say nothing relevant.
September 3rd, 2009 at 10:25 amvery thanks for article!
September 4th, 2009 at 10:55 am