DEMOCRATS IN CONGRESS DO IT AGAIN!

[Jeffersons Ghost]

IT'S NOT AN ACCEPTANCE SPEECH: IT'S A CHECK-LIST!

"Our pride and our prayers are united behind our men and women in uniform... In this Congress we must work together to build a future worthy of their sacrifice...

Hope -- That is what America is about... By electing me speaker you have brought us closer to the ideal of equality that is America's heritage and America's hope... It's an historic moment for the Congress... for the women of America. It is a moment for which we have waited over 200 years. Never losing faith, we waited through the many years of struggle to achieve our rights... Never losing faith, we worked to redeem the promise of America, that all men and women are created equal. For our daughters and our granddaughters today we have broken the marble ceiling... now the sky is the limit...

The election of 2006 was a call to change, not merely to change the control of Congress but for a new direction for our country. Nowhere were the American people more clear about the need for a new direction than in the war in Iraq. The American people rejected an open-ended obligation to a war without end. It is the responsibility of the president to articulate a new plan for Iraq that makes it clear to the Iraqis that they must defend their own streets and their own security, a plan that promotes stability in the region and a plan that allows us to responsibly redeploy our troops...

The American people also spoke clearly for a new direction here at home. They desire a new vision, a new America built on the values that have made our country great. Our founders envisioned a new America driven by optimism, opportunity and strength... They envisioned America as a just and good place, as a fair and efficient society, and as a source of opportunity for all.

Now it is our responsibility to carry forth that vision of a new America into the 21st century.

A new America that seizes the future and forges 21st-century solutions through discovery, creativity and innovation, sustaining our economic leadership and ensuring our national security.

A new America with a vibrant and strengthened middle class for whom college is affordable, health care is accessible and retirement reliable... that declares our energy independence, promotes domestic sources of renewable energy and combats climate change... that is strong, secure and a respected leader among the community of nations...

After years of historic deficits this 110th Congress will commit itself to a higher standard: Pay as you go; no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt. In order to achieve our new America for the 21st century we must return this House to the American people. So our first order of business is passing the toughest congressional ethics reform in history.

This new Congress doesn't have two years or 200 days. Let us join together in the first 100 hours to make this Congress the most honest and open Congress in history.

One hundred hours.

This openness requires respect for every voice in the Congress. As Thomas Jefferson said, every difference of opinion is not a difference of principle.

My colleagues elected me to be speaker of the House, the entire House. Respectful of division of our founders, the expectations of our people and the great challenges that we face, we have an obligation to reach beyond partisanship to work for all America.

Let us stand together to move our country forward, seeking common ground for the common good.

We have made history. Now, let us make progress for the American people.

May God bless our work, and may God bless America."

theday.com

U.S. House Approves Cut in Interest Rates on Student Loans

By Karin Crompton

The U.S. House of Representatives voted overwhelmingly today to approve a bill that would cut in half interest rates on federally subsidized student loans over the next five years.

The vote was 356-71, according to a spokesman for U.S. Rep Joe Courtney, D-2nd District.

"Today's bipartisan vote to cut the interest rate in half on federally subsidized student loans over the next five years will help make a college education more affordable and more accessible for our next generation of leaders and innovators," House Speaker Nancy Pelosi, D-Calif., said in a press release issued soon after the vote.

"At a time when college tuition continues to skyrocket, this crucial legislation will help remove some of the barriers to a higher education," Pelosi said.
http://www.theday.com/re.aspx?re=d22b7a8f-6512-4f13-aad9-1791a926ea62

House approves lower Stafford loan rates

Legislation would cut college debt costs for low- and middle-income students who take out subsidized federal loans.
By Jeanne Sahadi
January 17 2007: 5:42 PM EST

NEW YORK (CNNMoney.com) -- The House of Representatives on Wednesday voted in favor of legislation that would cut in half the fixed interest rates on need-based Stafford loans for undergraduates over five years.

The bill was introduced last week by George Miller (D-Calif.), chairman of the House Education and Labor Committee.

The College Student Relief Act of 2007 could save the average borrower an estimated $4,400 over the life of the loan, according to the Education and Labor Committee. The average student borrower with need-based loans has an average of $13,800 in debt, according to the Congressional Research Service.
http://money.cnn.com/2007/01/17/pf/college/student_loan_rates_bill_vote/?postversion=2007011717

[rocktivity]

1. This is just a sop to the educational extremists who have taken over the Dem party!

:evilgrin:
rocknation

[Jeffersons Ghost]

4. oh, really... I guess you missed my companion article earlier...

a bit more than a "sop," isn't it?

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=3140366&mesg_id=3140366

[porphyrian]

2. I'll kick that. - n/t

[BayCityProgressive]

3. SOCIAL ENGINEERING!!!

SOCIALISTS ALL SOCIALISTS!

[porphyrian]

9. As if denying the majority of citizens access to decent education ISN'T social engineering...

;)

[klook]

5. How are they going to pay for this?

By increasing taxes on those po iddle billionaires? :headbang:

[aquart]

6. You promise?

[Jeffersons Ghost]

7. YEP! YEP! YEP! hehehe, back to paying taxes for billionaire social parasites...

did you know that the average house-hold income went up over 80% for the top 5,000 wealthiest families in America from unneeded, unrequested, tax-cuts alone, last year?

[The Rock2111]

17. This will be appreciated.

This is an excellent explanation on how our tax system works.

The TAX system Explained IN SIMPLE TERMS!

Sometimes politicians, journalists and others exclaim; "It's just a tax cut for the rich!" and it is just accepted to be fact.

But what does that really mean?

Just in case you are not completely clear on this issue, I hope the following will help. Please read it carefully.

Let's put tax cuts in terms everyone can understand.

Suppose that every day, ten men go out for dinner and the bill for all ten comes to $100.

If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.

The fifth would pay $1.

The sixth would pay $3.

The seventh would pay $7.

The eighth would pay $12.

The ninth would pay $18.

The tenth man (the richest) would pay $59.

So, that's what they decided to do.

The ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.

"Since you are all such good customers," he said, "I'm going to reduce the cost of your daily meal by $20." Dinner for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still eat for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?'

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to eat their meal.

So, the restaurant owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).

The sixth now paid $2 instead of $3 (33% savings).

The seventh now paid $5 instead of $7 (28% savings).

The eighth now paid $9 instead of $12 (25% savings)

The ninth now paid $14 instead of $18 (22% savings).

The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to eat for free. But once outside the restaurant, the men began to compare their savings.

"I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man," but he got $10!"

"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than me!"

"That's true!!" shouted the seventh man. "Why should he g! et $10 back when I got only two? The wealthy get all the breaks!"

"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!"

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start eating overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D
Professor of Economics
University of Georgia

[RaleighNCDUer]

19. Bullshit.

And if it wasn't way past my bedtime I'd rip this bullshit parable to shreds.

This simplistic nonsense must have been made up by a republican.

[ProfessorGAC]

21. David Should Have His Ph.D. Revoked

This is an old, silly, and sophomoric Austrian school explanation that can't differentiate microeconomic from macroeconomic theory. It is apropos of nothing. The example has ZERO to do with the overall macroeconomy and fiscal policy. It doesn't even remotely adhere to fiscal theory.

It's not original, it doesn't even make sense, and has been constructed as a "thought" experiment (if your brain is trapped in two dimensions) to reinforce a pre-existing conclusion.

It's intellectually lazy and has no place in any serious discussion of taxation policy.
The Professor

[klook]

22. Dr. Kamerschen is NOT the author of "Tax Cuts: A Simple Lesson in Economics."

References:
http://davidk.myweb.uga.edu/
http://www.snopes.com/business/taxes/howtaxes.asp

How long did it take me to find this out? About 20 seconds. Why were you too lazy to confirm your source before posting this?

[msongs]

11. there is no "paying for it" required. banks just make less on interest is all.

they still make money, they just don't make so much.

nothing to pay for

Msongs
www.msongs.com

[lonestarnot]

8. Hip hip hooray! Wooodamnwhoo! yessssssssssssssss!

:applause: :bounce: :party: :loveya: dems! :kick:

[Jeffersons Ghost]

12. here's OTHER OBJECTIVES ALREADY MET BY OUR FINE HOUSE LEADERSHIP...

Senate Panel Adds Tax Cuts, Deferred-Pay Rule to Minimum Wage
Jan. 17 (Bloomberg) -- The Senate Finance Committee voted to add $8.3 billion in tax breaks for small businesses to legislation that would increase the minimum wage... by $2.10, to $7.25, over two years, the first such increase in a decade.

Other tax cuts include an increase to $112,000 the amount of equipment businesses can expect on their tax returns in a single year rather than depreciate over time... allowing restaurants and retailers to deduct improvements to buildings over 15 years, rather than the 39-year schedule under current law.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajRb10Gky.IM&refer=home

House passes 9/11 security bill
January 10, 2007

WASHINGTON (CNN) -- The first item on the House Democrats' "100 hours" legislative agenda, a measure to implement some of the recommendations of the 9/11 commission, passed on Tuesday evening.

The vote was 299-128.

Nearly 70 Republicans crossed party lines to vote for the package. It mandates full inspection of air and sea cargo entering the United States and shifts more homeland security funding to communities with high-risk terror targets.
http://www.cnn.com/2007/POLITICS/01/09/house.agenda/index.html

House passes MORE ethics reform, budget rule

By Richard Cowan
Fri Jan 5, 2007

WASHINGTON (Reuters) - The new Democrat-led House of Representatives on Friday passed a second batch of ethics reforms in as many days and resurrected controls they said would help end deficit spending.

One day after taking over the House after Republicans' 12-year rule, Democrats won rules changes they claimed would restore civility to the badly tarnished chamber and curb "earmarks" -- special-interest money and tax breaks often secretly inserted into legislation.

The move won applause from some of the most conservative House Republicans, including Rep. Jeff Flake (news, bio, voting record) of Arizona, who said Democrats "had more guts than we did to tackle earmark reform in a meaningful way. I compliment them for that."
http://news.yahoo.com/s/nm/20070105/pl_nm/usa_congress_dc

[lonestarnot]

13. Hell yeah! Thanks so much for making my night a happy one Jefferson's Ghost!

A tip of the hat to you for posting these.

[lonestarnot]

20. kicking again.

:kick:

[Harper_is_Bush]

10. very nice, she looks good with that gavel n/t

[Jeffersons Ghost]

14. oops, I forgot one... A BIG ONE... here's another MUST-READ post...

washingtonpost.com

House Passes Medicare Drug Bill

Measure Would Require Government to Seek Lower Prices

By Christopher Lee
Washington Post Staff Writer
Saturday, January 13, 2007;

The House voted yesterday to require the government to negotiate lower prescription drug prices for Medicare beneficiaries. But the measure faces an uncertain future in the Senate, a veto threat from President Bush, and considerable doubts from experts about whether it would save elderly and disabled Americans much money.

The vote was 255 to 170, with 24 Republicans joining 231 Democrats in approving the legislation.

The bill overturns a provision of the 2003 law pushed through by a Republican-controlled Congress that left drug-price negotiations under the new Medicare drug benefit to the private insurers that offer government-subsidized drug plans for seniors in each state.
http://www.washingtonpost.com/wp-dyn/content/article/2007/01/12/AR2007011201399.html

[lonestarnot]

15. A damn kickeroo!

:kick:

[muntrv]

16. The nerve of this Democratic Congress!! Doing actual work!!

What do they think? That they represent the American people?

[calimary]

18. Kicking!

Way to go!

Serving all but the war profiteers, liars, and Constitutional criminals.

[AbbyR]

23. And exactly who didn't have a plan?

I just can't believe it - actual work being done in Congress. What a concept!