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January 29th, 2009

U.S. stimulus to cost more than Iraq, Afghan war so far

Posted by: Susan Cornwell

US/WASHINGTON - Republican critics of the Democratic-backed landmark stimulus package are pointing out that its 800-billion-dollar-plus price tag would — “in one fell swoop,” as Republican Representative Todd Akin put it — consume more resources than have been laid out for two wars, so far.

The Pentagon says the United States has committed $524.6 billion to the nearly six-year-old conflict in Iraq and $120.9 billion to the fighting in Afghanistan since 2001.

“I almost have to pinch myself, gentlemen, to think that just standing here a couple of hours ago, we just voted to spend $800 billion, more than the cost of the war in Iraq and Afghanistan,” the Republican Akin declared Wednesday after the House of Representatives passed the stimulus without a single Republican vote in favor.

“Can our economy handle that?” he asked.

For years, Democratic opponents of the war in Iraq have questioned its cost and the fact that the 2003 invasion under the Republican Bush administration and the occupation that followed were done on borrowed money, adding to U.S. debt that ultimately must be paid by taxpayers.

Now Republicans, who largely supported the Iraq war, are trying to turn the tables on their Democratic critics and ask whether it is wise to borrow as much cash again all at once, taking on even more interest costs. “I know the Bush administration was savaged for the money that’s spent on the war in Iraq,” Sen. Jeff Sessions, an Alabama Republican, said this week.

Senate Majority Leader Harry Reid, a Nevada Democrat, dismissed Republican criticism that the package was too big, saying he had also consulted with Republicans who said “the package was too small” to get the economy moving again.

But Sessions said: “We’re talking about the largest spending bill in the history of the republic.” He cited Congressional Budget Office estimates that the  stimulus could cost $347 billion in interest on the national debt over the next decade, if none of its costs are offset.

Photo credit: Reuters/Larry Downing(House Majority Leader Steny Hoyer speaks next to House Speaker Nancy Pelosi about the economic stimulus package on Capitol Hill in Washington on January 28.

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January 6th, 2009

The First Draft: Tuesday, Jan. 6

Posted by: Deborah Zabarenko

MALAYSIA

On a dark and drippy Washington morning, President-elect Barack Obama meets with his economic advisers to discuss the 2010 budget.

At the White House, President George W. Bush will create the biggest protected marine area on the planet, a trio of national monuments in the Pacific.

The new U.S. Congress convenes today, with clouds hanging over two Democrats: Roland Burris of Illinois and Al Franken of Minnesota.

Burris arrived in the Washington area Monday, vowing to take Obama’s vacant Senate seat. But because he was appointed by Illinois Gov. Rod Blagojevich, Senate Democrats have said they plan to keep Burris out, at least for now — though a compromise is possible. Blagojevich has been charged with having earlier tried to sell Obama’s seat.

USA-POLITICS/FRANKEN

Franken, a former stand-up comic and comedy writer, was declared the winner in a Senate contest against Republican Norm Coleman after a recount showed Franken with a 225-vote majority. Coleman has promised a court challenge of those results.

Morning TV news shows also focus on the humanitarian crisis in Gaza and lousy weather in Washington and across the eastern half of the United States: rain, sleet and ice expected from Texas to New England. Washington being Washington — with the world’s worst reputation for weather wimpiness — some area schools are closed or opening late in anticipation.

Outside the Beltway, morning chat includes Oprah’s plans to reverse her 40-pound weight gain, further talk about the death of John Travolta’s son Jett in the Bahamas, and Patrick Swayze’s cancer struggle, complete with film clips of his starring role in the 1987 flick “Dirty Dancing.”

REUTERS/David Loh (Undersea scene in South China Sea)
REUTERS/Eric Miller (Minnesota Senate candidate Al Franken)

April 30th, 2008

McCain meets human face of “earmark” spending

Posted by: John Whitesides

ALLENTOWN, Pa. - Republican presidential candidate John McCain frequently rails against “earmarks,” the special spending projects that members of Congress procure for thmccainthis.jpgeir home districts, often with little or no oversight. 

But Wednesday he admitted he sometimes admired the results. 

On a visit to an Allentown hospital during a week-long campaign swing featuring health care issues, the Arizona senator met a woman with ovarian cancer who was treated in a $80 million clinical trial program funded by an earmark. 

McCain praised the woman’s treatment and later said some earmarks were clearly worthy. 

“It’s the process I object to,” McCain told reporters. “We need to start over from scratch.” 

McCain told reporters that wasteful spending projects had drained away money that could have been used for infrastructure improvements that would prevent tragedies like last year’s deadly bridge collapse in Minnesota. 

He has promised to eliminate earmarks and make spending projects compete for funding in congressional budget deliberations. 

“When you earmark in the middle of the night you have no budgetary constraints,” he said.

Click here for more Reuters 2008 campaign coverage.

Photo credit: Reuters/Carlos Barria. (McCain listens speaks during a news conference at Miami’s Children Hospital in Florida April 28, 2008.