Friday, January 9, 2009

Rifts show as Obama urges quick action on stimulus

Democrats such as Budget Committee Chairman Kent Conrad complained openly that many of the incoming administration's proposed tax cuts wouldn't work. Republicans warned against excessive new spending, with both parties signaling the incoming president they intend to place their own stamp on the economic recovery effort.

"Doing things that would have a permanent effect when we face trillion-dollar deficits as far as the eye can see is just unwise," Conrad said.

Ominous developments, but just as I have been predicting.

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