July 11th, 2010
08:50 AM ET
11 years ago

Congress is back – and so is the spending debate

NEW YORK (CNNMoney.com) - Lawmakers come back to work Monday facing a tough decision: Whether it's more important to spend money to keep the economic recovery going or to watch their pennies.

One camp, made up mostly of Democrats, is arguing that Congress must spend to help cash-strapped states and people who are hurting from the downturn.

The other side - mainly Republicans but also a few fiscally conservative Democrats - says that adding to the nation's deficit poses an even bigger economic problem. They don't mind helping the unemployed and the states, as long as the measures are paid for.

Lawmakers don't have much time to argue. They'll be in session for a month before leaving for the extended August recess. And when they return after Labor Day, they'll be wrapped up in the November elections and likely will get little done.

There are three pressing issues that lawmakers will wrestle with in July.

Full story on CNNMoney.com

Filed under: Congress • national debt
soundoff (12 Responses)
  1. Kevin in Ohio

    Get ready for more Chicago style strong arm politics as these criminals continue to spend our country in to oblivion. And they won't stop this summer....they are already making plans to pass several socialist measures AFTER the elections in what will be a lameduck session.

    It will take 20-30 years to undo the damage this Congress and President have done to America. And thats only if Americans wake up.

    July 11, 2010 09:31 am at 9:31 am |
  2. ib

    This congress and president will not stop their non-controlled spending until there is no country left. Before you libs come after me I also posted against Bush's spending the last two years of his term which is over now in case you have forgot; time to stop blaming him for Obama's failures.

    July 11, 2010 09:32 am at 9:32 am |
  3. Keith in Austin

    Unfortunately, it is readably accepted that the stranglehold liberal Democrats have on Congress is perishable and that November will mark a major power shift in their control in both Houses. As a result, they are now on a mission to cram through as many taxi-and-spend left-wing agenda legislation as they can. Truly despicable and contrary to the American People and our future generations! All the while, blaming the need for their socialistic actions on the Bush Administration!

    July 11, 2010 09:42 am at 9:42 am |
  4. Go USA!

    It took over 8 years of GOP rule to get us here, now you want it fixed in 18 months? REMEMBER WHO GOT US WHERE WE ARE TODAY! The Bush administration told us it was "good thing" for our economy to give tax cuts to the rich and ship our jobs overseas...

    On February 9, 2004, President George W. Bush's chief economic adviser, N. Gregory Mankiw, released the annual Economic Report of the President and praised offshoring of U.S. service jobs as a "good thing."

    His quote,"Outsourcing is just a new way of doing international trade," he told reporters, adding that the practice is only "the latest manifestation of the gains from trade that economists have talked about" for centuries.

    This from the same people who keep telling us if we give more tax cuts to the rich we will all get wealthy...

    The GOP recently blocked Congress from extending unemployment insurance to 1.5 million Americans who are out of work...

    Who cares about your neighbors, their families, or our fellow Americans who are out of work...after all they're all lazy hobos according to the GOP...right?

    You wanna end the middle class? Vote GOP this fall...


    July 11, 2010 09:54 am at 9:54 am |
  5. rick

    what happened to PAYGO

    July 11, 2010 09:59 am at 9:59 am |
  6. Lemonton

    So the heartless Republicans and corporate Democrats "don't mind helping the unemployed and the states, as long as the measures are paid for" and I am sure that for the "paid for" part they meant cutting social programs to screw even more people.

    What about the bloted, outdated cold war era defense budget? We spend more on "defense" that the rest of the world combined and a good chunk goes to defense contractors that keep running up the cost of the projects and we just keep paying because they are "sacred cows".

    Well, if the deficit is so important that the nation can't even help its own people because of it, then there can't sacred cows anymore.

    Everything must be on the table, starting with the DoD budget. Let's see what the "fiscal conservatives" have to say about that.

    July 11, 2010 10:01 am at 10:01 am |
  7. Denny

    When the democrats say they want to "spend to help", they are talking about spending my money and your money. I don't have ANY extra right now. How about you?

    July 11, 2010 10:19 am at 10:19 am |
  8. Ron

    This administration has wasted HUNDREDS OF BILLIONS of dollars on non-stimulus items and NOW wants to blame Republicans for this dismal economy? Obama has had 18 months and spent recklessly on items that do not create jobs. When you take $100 from a working businessman and give $100 to someone who is not producing anything then how do you expect that to stimulate the economy? If we had spent almost a TRILLION dollars on incentivizing businesses to become profitable THEN you would have seen economic growth (and accompanying significant hiring) in the last 18 months.

    This president is INTENTIONALLY killing this economy and doing it to make MORE people dependent on government and MUST BE STOPPED!! We are on the verge of bankruptcy and if more money is spent on "junk" (and not things that actually CREATE jobs) then get ready for a depression not seen since FDR tried these SAME POLICIES in the 30's. Many are of the belief that FDR policies got us OUT of the depression but was actually the opposite. FDR policies CREATED the depression and lasted over 10 years. Get ready for Obama's policies to do the same thing and push us into a depression that will likely last a decade or more.

    July 11, 2010 10:22 am at 10:22 am |
  9. froggyalley

    Stop funding the cockamamie wars in the the Middle East. It's done. Have a big freaking parade, say you won and GET OUT. When is the last time we won a war anyway?

    Bring the troops home, put them on the borders. they won't be unemployed.

    There's plenty of work to be done in this country. Fund it with what you saved in pulling the plug on the war machine.

    ...and don't allow Congress go home until they get their work done. Your campaigns will just have to wait. Show your people your true stripe...are you in DC to represent the people who elected you or Big Business that funds your campaign?

    July 11, 2010 10:28 am at 10:28 am |
  10. Marty, FL

    Our country will be paying even more if unemployment is not extended for our fellow Americans in these challenging times. The minimal costs of these benefits are much less than the larger impacts on our economy if Americans cannot afford to pay for food, shelter & basic living expenses while our economy continues to recover.

    And for posters who use "socialist" rhetoric, you have already lost credibility in debate by glaring hypocrisy of not understanding the meaning of the word. For instance, do you drive on public roads and support our military? Please think about it.

    July 11, 2010 10:29 am at 10:29 am |
  11. La Piovra

    When someone is hemorrhaging, you don't quibble about the cost of a tourniquet- not unless you're willing to let the patient die. Millions of Americans are already on gurneys, and before we apply that kind of cost-benefit analyses to them, we'd better remember it could be any of us, any time.

    July 11, 2010 10:51 am at 10:51 am |
  12. Anonymous

    If they would stop playing politics and spend money on things that we need- no not just bailouts, but infrastructure improvements , they would create jobs, better our country, and allow the economy to improve on it's own.
    10 per cent of the cuontry is unemployed- yes and its sad ( I'm one of them) BUT 90% are employed and by makingthis country better for 100% of us, we will all thrive.
    Old jobs are not returning.Old insustries are dead. Move on,move forward adn stop whining about everything. Optimism is contageous.

    July 11, 2010 10:52 am at 10:52 am |