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AFL-CIO leader set to press deficit commission to continue with stimulus spending

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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:39 AM
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AFL-CIO leader set to press deficit commission to continue with stimulus spending
This seems like a no-brainer to me. I wish I understood what the Dems are thinking on this; they're so concerned about their own skins they can't see that this is a win/win for them?


AFL-CIO leader set to press deficit commission to continue with stimulus spending
By Michael O'Brien - 06/29/10 05:22 PM ET


AFL-CIO President Richard Trumka will press President Barack Obama's deficit commission to continue with spending to stimulate the U.S. economy.

The labor leader will tell the bipartisan panel, which the president established earlier this year to generate recommendations on how to reduce long-term deficits and debt, that more spending to create jobs is needed.

"Without a significant reduction in the trade deficit, only economic stimulus in the form of deficit spending can make up for the remaining shortfall of aggregate demand until private sector demand regains its footing," Trumka will tell the commission, according to excerpts of prepared remarks released by the AFL-CIO.

"But instead, we are heading in the opposite direction," he'll say. "We are prematurely withdrawing economic stimulus, allowing the Recovery Act to phase out and standing by passively as state and local governments plan to lay off 900,000 workers."

more...

http://thehill.com/blogs/blog-briefing-room/news/106273...
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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:53 AM
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1. K&R
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