Watch Sen. Shelby debate the merits of the stimulus bill with New York Sen. Charles Schumer on John King's State of the Union.
WASHINGTON (CNN) – Republican Sen. Richard Shelby of Alabama still isn’t happy with the stimulus bill even after hours of negotiating by centrist members of his own party in the Senate.
Asked by CNN’s Chief National Correspondent John King whether the version of the bill currently under consideration in the Senate is better than the House version, Shelby said his preference would be to start from scratch.
“It’s close to the House bill,” Shelby said Sunday on State of the Union. “They tweaked it a little bit but the substance is the same.”
“It’s not anything I could support,” Shelby added. “And I would hope – and I’m afraid we won’t – the Republicans would stay together. We could shelf this bill and start again. That’s what we really need to do.”
Shelby, the Ranking Member on the Senate Banking Committee, has also been critical of other efforts by the federal government to help the struggling economy including legislation that would have provided a bailout to the auto industry.
The Senate reached a tentative agreement Friday evening on a compromise version of the stimulus bill that was largely negotiated by a handful of centrist Republicans whose votes are needed to prevent a filibuster.
The Senate is expected to vote on the revised stimulus bill Tuesday.
Obama has not signed anything, so how did he cave. Are we mentioning Hillary again, didn't she lose?
Thanks to the Bush Administration, and the Republicans, who dropped the ball not only for eight years, but more specifically in the fall when Americans watched the stock market tank, and John McCain and his repub croonies stall the first stimulus package for many days, WE, THE AMERICAN PEOPLE now find ourselves one breath away from a Depression, and the stubborn, one-way, partisan ways of the Republicans continue. How can we elect politicans to take care of our best interests when they completely do not nor do they care to have any common sense in this dire crisis. Forget about Politics! Save the American People!!
And where was he when the Repubs voted for the Wall Street financing? Too bad he didn't want to rewrite that bill and make it more than a giveaway.
The only reason Repubs hate this bill is because they are terrified of Obama and afraid it might just work. Since they lose either way, what do they care about the public? They are the ones who are putting the pork (fake tax cuts) into the package. Every dollar in tax cuts yields $1.02 to the economy. Every dollar in food stamps gets a return of $1.78! So what did they cut? Every blessed program to help kids, families, teachers, school districts...because they only care about their pride.
And my sister calls Obama arrogant.
The Senate has been working on this bill since this crisis started. If Senate had been working prior on the crisis during the Bush administration we may not be in this mess, but since we are I have a suggestion cut or eliminate the pay of the senators and congress and the media instigators and we might can move forward. As far as education funding for the children. Where is the money going when the American people play the lottery. It suppose to be going toward education. Why are we supporting the legalize gambling going on Wall Street which is dictating everything that happening in this world? The wealthy people are playing games with the American people because they got money and pretending to be broke at the expense of the pain being suffered by people lossing their job. They want us to believe they are running out of money, so they can hold their hands out for the govenment bailout funds. Go really investigate some of these big companies you may be surprise by what you find, like they really aren't broke they just following suit and crying wolf with the rest of corporate America.
Shelby and the Republicans think tax cuts are the answer to the worlds problems.Why not just eliminate income tax for everyone. Most Republicans think corporations should pay no taxes because their lobbyists said so. I have an idea go ahead and eliminate all income tax and replace it with a hefty import tax for all goods coming in, no more FREE TRADE ! = plenty of good paying jobs for Americans. Top it off with national health insurance and wallah! An economy that works for everyone.
He thinks the republicans should lead on fiscal matters? He is no good on math. He cannot figure out the they were badly beaten in the last election and will be beaten worse in 2010.
Why dont we worry about giving it all to the bankers instead? We're fighting over the wrong thing!!! Almost like it was designed that way, hmm.....
t's just amazing how certain Republicans are that they have all the answers since the Democrats have inherited the results of 8 years of failed economic policies. Shelby supported the supply-side economics and deregulation that brought our country to the brink of depression. My advice to Shelby: you didn't lead, so if you can't follow, then just get out of the way!
911willie: Where were you for the past 8 years and $4 trillion additional debt? Come to think of it – where was Shelby? I don't recall his opposition to all the spending and explosion of new government agencies and departments filled with incompetent contributors.
Testing.. where's my message?
Let Obama have his way. He can wish it had worked, as he escorts the new President-elect to the inauguration on 1-20-2013
Dont listen to the Red States. This country was founded by GUTS not fear of the future, fear of using resources... Steve Jobs created the PC in his garage because of GUTS... Invest..invest...invest... 1 trillion dollars USED to hold a GLOBAL economy in place is WORTH IT...
When so many economist say the current stimulus bill is what is needed to get things staight, why do these bull-headed Republicans have only one stategy? Tear it down! They have just about torn our nation apart and they want to use the same old plans they have used for eight years. Even one of John McCain's economical advisors says this plan is needed, but ole John keeps saying the same old thing. Wake up Republicans; you had your time and look at the mess you have left us in. WE NEEDED CHANGE AND OBAMA IS PROVIDING IT!
What do people in the Marines do when the going gets rough? Reinforcements and patience!!! Dont coward out of this!! Use the best and the brightest and we will PREVAIL!!! I think 1 trillion is TOO SMALL...
GOP can't admit they screwed it up royally. GOP can't admit they lost the election with very ill-conceived scampaign moves. GOP can't admit that their greed has brought the financial institution of this country down.
Time to admit it, our GOP friends, you did screw up, big time. Let the man do his job. And get out of the way. What are you afraid of? That he just might succeed.
Don't you folks know that the Repugs can't go ahead and vote for this bill one way, or the other, until they get their call from Rush telling them what they are to do. He was on vacation all last week so maybe their calls are starting this weekend.
Republicans and Rush Limbaugh are trying everything in their power to make sure that the Democrats are not allowed to do anything to help the American people. That way in 2010, they can say that Obama is a failure and the Democrat house and Senate are failures. They still don't have a clue. IF Republicans had the answers and IF their answers were the right way then WHY do we have this problem today? Republicans only answer is tax cuts for corporations and businesses. Why hasn't it work so far?
TRICKLE down economics didn't work for Reagan and it didn't work for Bush, Time to try something different..
And by the way fearful...the only people expecting to get money from President Obama are people like you who never bothered to listen to what he was saying on the campaign trail. That kind of money is Republicans way of throwing crumbs at the American people so you won't complain about corporate welfare. President Obama never promised handouts, he has always spoke of personal responsibility.
The ECONOMY NEEDS a SURGE not a drawdow. McCain and anyone who is in the military knows what a surge is... NO DRAWDOWN. When it comes to the economy, ELEPHANTS are WIMPS. When it comes to military, DONKEYS are ... you know what.. This is the season to be A DONKEY, NOT AN ELEPHANT
As an outsider looking in and wondering why any republican would even attempt to try and drag this bill out so it can fail is beyond me. All I keep reading is uneducated morons who spew nothing but crap about this adminstartion and how they will screw up. Now I am starting to believe what some people are saying about republican supports and their party. They would rather go down in flames, destroy their own families lives and their neigbhors to make sure the democrats fail. Talk about being stupid. When are these people going to learn? If this adminstration fails, your all screwed. It won't matter if your a Republican or a Democrat, you won't have a leg to stand on or a job to feed yourself or your families. As for these Republican Congressmen who vote against this just because your a Republican. Your just as stupid as the people who support you. Just watch what happens in the next election when you and your party have even less respresentatives in office. Man you people are a joke. But I can say one thing about you. You make the rest of the world happy. We never laughed so much in all our lives. Talk about cutting of your nose to spite your face. Hahahahahahaha
A lot of socialist ranting going on here! The bill being presented by the Democarats is nothing more than a spending bill that has little to do with direct economic stimulation. But keep ranting. Now that we have one party government. The press will now need to go after the Dems!
By all means, let's listen to the republicans who got us into this mess in the first place. They're offering nothing but more of the same, while knocking Obama for offering a new direction. Of course, they use the same old buzz words ("socialism," "savior-based ecomomy") in an attempt to villify and scapegoat, but the fact is that we tried it their way and they crashed us into a wall. It's time to try something else.
As Obama says, the issue isn't whether government is too big or too small. It's whether government is effective and responsive to the needs of its citizens. What we need, Senator Shelby, is a little less ideology and little more practicality. Get on the bus or get out of the way!
Where was Shelby when the majority Republicans were voting on everything that Bush sent to them and screwed the country up in the first place? Wells Fargo do not need a bailout. I am a real estate broker, January, 2008 my husband expired and I called them to let them know the situation I am in. I asked if I could do a short sale and explained to them that I had a willing and able buyer. They told me that we should send them the contract, and complete the information they faxed to us. Everything they asked us to do, we did it. The Buyer was approved by his lender, inspection and appraisal was done. Wells Fargo told me that the closing would be July 1,2008. Buyer wanted to move in immediately. I moved out on June 25,2008 thinking that this was a sure go. Not familiar with short sale. They apparently didn't know either. September 6,2008, I received a letter from Wells Fargo stating that they declined the short sale. Now the property is foreclosed and they are selling it for $69,000.00 when they would have gotten $88,000. They didn't want to pay the 2nd mortgage $8,000.00 . I was in constant contact with the 2nd mortgage. Wells Fargo Home Mortgage had not contacted the 2nd mortgage . I have been told this same story by other realtors regarding Wells Fargo. I really do feel that these are scams pulled off by the mortgage companies and the other financial institutions.