–Retransmitting, Fixing Headline Typo
–Senate Minority Leader: Obama’s First Stimulus Plan Was Failure
–Expects ‘More of The Same’ From Obama’s New Plan
–Obama Developed Plan ‘Without Consulting Congress’
–Senate To Vote To Disapprove Debt Ceiling Hike
By John Shaw
WASHINGTON (MNI) – Senate Minority Leader Mitch McConnell Thursday
repeated his withering assaults on President Obama’s economic policies,
adding that he expects the president to offer the same basic policies in
his nighttime speech.
Obama will address a Joint Session of Congress tonight at 7 p.m.
ET to unveil a new jobs package that is expected to cost about $300
billion and include tax cuts, infrastructure spending and assistance to
state governments.
But McConnell made it clear that he does not need to hear the
details of Obama’s plan before rendering his verdict.
In remarks on the Senate floor, McConnell blasted Obama for
advancing an economic agenda that is heavy on government spending and
regulation. He said he expects to hear more of “the same failed
approach” when the president addresses Congress.
McConnell said Obama’s new plan is just “another stimulus” package
that was developed “without consulting Congress.”
“It’s not a jobs plan. It’s a re-election plan,” McConnell said.
McConnell said it is based on the same approach as the president’s
$787 billion fiscal stimulus plan in early 2009.
“We can’t afford to make the same mistake twice,” McConnell said.
McConnell said an “entirely new approach” is needed that includes a
smaller federal government and reduced government regulations. It’s
critical, he said, to curtail “regulatory overreach” by the
administration.
On another matter, McConnell said he expects the Senate to vote on
a motion to disapprove of releasing the second tranche of the debt
ceiling increase.
Such a motion of disapproval would have to pass both branches of
Congress which is unlikely. Then, Obama could veto the measure.
** Market News International Washington Bureau: (202) 371-2121 **
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