Tue, 10 Feb 2009 19:42:26 +0000 – By Andrea TantarosRepublican Political Commentator
First of all, as a Pennsylvania girl I'd like to apologize to every fiscal conservative in America for the actions of Pennsylvania Senator Arlen Specter, one of three Republicans who voted with the Democrats on the "spendulus" bill. Senator Specter is up for re-election in 2010 and I hope the voters in my home state will hold him accountable for his actions.
A part of what this bill -- in its current form -- does is funnel money to expand socialized medicine (Medicaid) and welfare programs. Once we pass this expansion it will be like pulling teeth to ever go back. And keep in mind that this is essentially a two year bill. To think that Democrats are actually going to cut funding for these costly programs is unthinkable, particularly in an election year. Yes, if these provisions go through we will be pumping billions into Democratic priorities. Talk about unstimulating.
Passage of a plan allocating almost a trillion dollars in money we don't have will also give Democrats an excuse to raise taxes. Mark my words America. It's coming. But tax hikes aren't just the worst Rx economically, they are exactly what the public can't afford and doesn't want.
"We can't embrace the losing formula that says only tax cuts will work for every problem we face," President Obama said on Friday. But a recent poll by Investor's Business Daily shows that Americans would welcome tax reductions with open arms as part of any stimulus plan. Of 568 adults surveyed last Monday through Thursday, 67 percent favored cutting federal taxes on businesses, 79 percent favored cuts in individual income taxes and -- despite the fact that only half of Americans are investors -- 62 percent even favored cuts in capitals gains taxes.
As the "spendulus" heads to conference it's imperative we stand tall against Obama Co.'s trickle up economics. We continue to hear the left talk urgently about the need to "do something." But the cost of doing nothing isn't as great as the cost of doing the wrong thing, and this bill is filled with wrong things. Act I of the economic recovery drama was a tragedy. It's not too late to rectify Act II.