On the recordFebruary 8, 2012
The major reason why this motion to instruct is timely is the answer to this question. What will we know after February 17 that we don't know now? There is going to be no new information. So what would justify the delay? What we know now, number one, is that Republican economists and Democratic economists say that this is a very fragile recovery, that we're all happy that the unemployment rate is going down, but we're all concerned that it's unacceptably too high. And when you have Republican and Democratic-aligned economists saying unanimously to take this money out of the economy at this time would stall the recovery, we all agree that we can't do that. So that's not going to change between now and February 17. Secondly, we know that on the pay-for, we have clear lines of division on this. If you have a pay-for that basically takes with one hand what was given in the other, in other words you cut spending on things that help middle class families in order to pay for a 2 percent reduction in their payroll tax, that zeroes out the stimulative effect. So from a macroeconomic point of view, it does no good for the economy, when all of us assert that our goal is to help the economy. The second question is political tactics, and the political tactic of this Congress has been brinksmanship. On December 10, when we just about turned the lights out on government, it was a last-minute agreement that finally kept them on.…





