With the election still a week away, Congressman Barney Frank (D-MA), chairman of the House Financial Services Committee, is already setting the stage for drastic cuts in defense spending, higher taxes, and bigger government. In a meeting with the editorial board of The Standard-Times, a local Massachusetts newspaper, Rep. Frank said he would support a 25 percent cut in military spending, a tax hike on the wealthy, help for state healthcare expenses, food stamps, and extended unemployment benefits. Congressman Frank’s plan hardly represents economic stimulus. This misguided proposal is based …
The New York Times is shocked – SHOCKED – to learn the Senate’s legislative remedy for the mortgage mess offers surprisingly little relief for folks with problem mortgages, but gives huge tax breaks to “automakers, airlines, alternative energy producers” and others. Doubtless the Gray Lady will be shocked at how the House proposes to restore balance: By drafting legislation that uses the taxes of responsible, middle-class homeowners and renters to bail out most everyone who’s in over their heads in mortgage payments. And “everyone” means everyone. Even those who lied …
