Congress stands up to Obama's Reaganesque economic policies [View All]

After kowtowing to the religious right and the Israeli right, Obama now kowtows to Reagan trickle down economics, but fortunately it looks like there are some prominent progressives in Congress who will try to make Obama act like a Democrat.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aBTL10m.08lQ&refer=us

Several lawmakers criticized a $140 billion proposal to give $500 to individuals and $1,000 to families by withholding less from their paychecks, saying it would do little to boost the economy. Senate Budget Committee Chairman Kent Conrad, a North Dakota Democrat, compared the idea with rebate checks sent last year by the Treasury Department, which he said were “largely a bust” in terms of boosting consumer demand.

“I’m very skeptical that’s going to make a difference,” Conrad told reporters in Washington. “For the average family, it’s going to add $20 a week -- I mean, how much lift is that going to give?”

...

Several lawmakers criticized plans to offer businesses a $3,000 tax credit to hire new workers.

“Why would you, if you got a couple thousand dollar jobs credit, go out and hire somebody to build a car nobody’s buying?” said Conrad.

“I’d rather spend the money on the infrastructure, on direct investment, on energy conversion” and other things that may create jobs more quickly, said Senator John Kerry, a Massachusetts Democrat.

...

Senate Agriculture Committee Chairman Tom Harkin, an Iowa Democrat, suggested the Obama plan had too many tax cuts.

“To me it still looks like more of this trickle-down,” Harkin said after the meeting. “If someone gives you a tax break you’re going to save that money, you’re going to salt that away -- you’re not going to be spending it.”