Tenn. senators want more focus on housing crisis By BILL THEOBALD

by

corker

Mon. 06 , Nov. 2006 Photo by Matthew Craig . Senator John McCain speaks to a crowd of supporters gathered in Knoxville Monday morning to show their support for republican senate candidate Bob Corker. In addition to McCain, Corker was joined by senator Lamar Alexander, Bill Frist and Corker’s wife Elizabeth for Monday’s swing across the state.

Beyond the stimulus debate, Corker also warned that despite federal efforts to rescue the credit market, more bank seizures and huge losses are coming — possibly totaling up to $1 trillion.

“It’s going to wreak havoc,” Corker predicted and would require further federal spending.

http://www.theleafchronicle.com/article/20090203/NEWS01/902030322

EXCERPT

WASHINGTON — As the Senate takes up economic stimulus legislation this week, Tennessee’s Republican Sens. Lamar Alexander and Bob Corker are calling for paring back the massive proposal and focusing on the housing market.

The two are proposing the federal government offer 4 to 4.5 percent, 30-year mortgages for current or new homeowners.

Alexander estimates the lower interest rate would reduce the average homeowner’s monthly payment by more than $400. Large loans would not qualify, and the program would be capped at $300 billion, he said.

Alexander and Corker also are calling for a $15,000 tax credit for the purchase of homes during 2009.

The credit is usually reserved for first-time homebuyers, but this would apply to anyone and would cost $20 billion in lost tax revenue, according to Republican estimates.

Both senators were critical of the $819 billion plan approved by the House last week and the similar version offered by Senate Democrats.

Alexander called it “tremendously oversized” and Corker called it “a potpourri of spending that is not thoughtful.”

The House bill calls for $50 billion for highway and school construction, while the Senate proposal would allot $43.4 billion.

Differences in the House and Senate stimulus bills:
— Increasing Pell Grants for tuition. House: $15.6 billion; Senate: $13.9 billion.
— Military construction and renovation. House: $8.4 billion; Senate: $5.6 billion.
— Highway programs. House: $30 billion; Senate: $27.1 billion.
— Law enforcement grants. House: $4 billion; Senate: $2.5 billion.
Source: U.S. Conference of Mayors

From senatorcorker

Senator Corker is interviewed about the economic stimulus package by Peter Cook on Bloomberg’s “Money & Politics”.

57 Responses to “Tenn. senators want more focus on housing crisis By BILL THEOBALD”

  1. rosettasister Says:

    Senate begins sparring over President Barack Obama’s $885 billion economic stimulus plan

    Republicans prepare amendments to strip out spending, hint that president is open to compromise

    http://www.chicagotribune.com/news/nationworld/chi-stimulus03feb03,0,5288020.story

    Republicans also plan to propose additional income tax cuts for middle-class workers, McConnell said. That may be hard to pass in the Democratic-controlled Senate, but the GOP may garner more support for efforts to strip out spending that they believe is not effective at quickly generating jobs.

    Nebraska Democrat Nelson is a fiscal conservative who is collaborating with Republican Sen. Susan Collins of Maine and others to identify spending proposals that could be removed—such as the smoking cessation funding or $400 million for testing and prevention of sexually transmitted diseases.

    “I’d have a great deal of difficulty voting for the bill as written,” he said. “but I am looking for a way to say yes.”

  2. rosettasister Says:

    Can the Senate GOP Unite In Opposition?

    http://www.humanevents.com/article.php?id=30530

    In response to a question about support for the bill from both sides of the aisle, McConnell said, “There is considerable unrest — and we’re hearing it — considerable Democratic senatorial unrest with this package. Considerable. I think that there is a bi-partisan feeling that this is not the way to get the economy moving.”

  3. rosettasister Says:

    McCain: Republicans must be part of stimulus talks

    http://www.google.com/hostednews/afp/article/ALeqM5g486uRAXWw964F8VUZbQCeltg3cA

    A key Republican demand is to refocus the stimulus package away from a spending spree on infrastructure and social safety nets, and towards attacking the root cause of the financial crisis: the US property market slump.

    “Look, this crisis started with housing,” McCain said. “It’s going to end when we stabilize housing — home prices.”

  4. ddlew2 Says:

    Nancy Pelosi and those bastards in the house are so out of touch with the middle class in America. I’m predicting MAJOR CHANGES in the next election cycle.

  5. rosettasister Says:

    OUR VIEW: Cantor takes tough stance on closure of Guantanamo

    http://www.starexponent.com/cse/news/opinion/op_ed/article/our_view_cantor_takes_tough_stance_on_closure_of_guantanamo/29076/

    Cantor’s best argument might be that there should be more debate on the issue before anything is done.

    “Actively moving terrorists inside our borders weakens our security, raises far more questions than it answers and is the wrong track for our nation,” Cantor said. “We need to have a serious, careful and realistic national discussion about the ramifications of closing Guantanamo Bay.”

  6. ddlew2 Says:

    McCain needs to stfu. Let the market repair itself.

    If they feel the need to throw money at the problem, throw it to those that will spend it and revitalize the economy….THE TAX PAYERS!

  7. rosettasister Says:

    Some Republicans Oppose Giving Schools Slice of Stimulus Pie

    http://diverseeducation.com/artman/publish/article_12246.shtml

    Sen. Mike Enzi, R-Wyo., senior Republican on the Senate education committee, echoed this view.

    “If Congress and our new president are truly concerned about keeping jobs and creating new ones, let’s not pay lip service with this trumped-up ‘stimulus’ bill,” he said.

    And House Republican leader John Boehner, R-Ohio, said $140 billion for education “is not going to do anything, anything to stimulate the economy.”

  8. ddlew2 Says:

    Amen Boehner! It will do ABSOLUTELY NOTHING to stimulate the economy. It’s the state’s responsibility to fund education NOT the federal government!

  9. Troy Says:

    Here is a funny joke that someone sent to me.
    ********************************************

    FIRST TIME SEX

    A girl asks her boyfriend to come over Friday night to meet and have dinner with her parents.

    Since this is such a big event, the girl announces to her boyfriend that after dinner, she would like to go out and make love for the first time. The boy is ecstatic, but he has never had sex before, so he takes a trip to the pharmacist to get some condoms. He tells the pharmacist it’s his first time and the pharmacist helps the boy for about an hour. He tells the boy everyth ing there is to know about condoms and sex… At
    the register, the pharmacist asks the boy how many condoms he’d like to buy, a 3-pack, 10-pack, or family pack.

    The boy insists on the family pack because he thinks he will be rather busy, it being his first time and all.

    That night, the boy shows up at the girl’s parents house and meets his girlfriend at the door. ‘Oh, I’m so excited for you to meet my parents, come on in!’

    The boy goes inside and is taken to the dinner table where the girl’s parents are seated. The boy quickly offers to say grace and bows his head. A minute passes & the boy is still deep in prayer, with his head down.

    10 minutes pass and still no movement from the boy.
    Finally, after 20 minutes with his head down, the girlfriend leans over and whispers to the boyfriend, ‘I had no idea you were this religious.’

    The boy turns and whispers back, ‘I had no idea your father was a pharmacist.’

  10. rosettasister Says:

    Even the Italians get it!

    USA/ Obama stumbles: too many expensive mistakes in his financial stimulus package

    http://www.ilsussidiario.net/articolo.aspx?articolo=11888

    While the Democratically-controlled House passed the bill, not a single Republican was persuaded to vote for it.

    The stimulus package next goes the Senate where it is already set to meet opposition from Republicans and Democrats, including Senator John McCain.

    Senator Ben Nelson, known for forming bipartisan coalitions (the “Gang of 14”), is seeking to improve the plan by replacing billions in non-growth spending with infrastructure projects that would directly create jobs.

    http://www.patriotpost.us/opinion/peggy-noonan/2009/01/30/look-at-the-time.html

    In her Wall Street Journal column this week, Peggy Noonan wrote of a missed opportunity.

    “That’s what the stimulus bill was about—not knowing what time it is, not knowing the old pork-barrel, group-greasing ways are over, done, embarrassing…. That’s how the Democratic establishment in the House looks, not like people who are responding to a crisis, or even like people who are ignoring a crisis, but people who are using a crisis.

    Our hopeful, compelling new president shouldn’t have gone with this bill. He made news this week by going to the House to meet with Republicans. He could have made history by listening to them.”

  11. rosettasister Says:

    DUmmie FUnnies 02-02-09 (“VERO PORKULUS: DUmmies are ‘Drooling for Dollars'”)

    http://www.freerepublic.com/focus/f-bloggers/2177078/posts

    That kind of sucks but we’re used to getting the shaft. . . .
    [Is that you, benburch?]

    CALL CONGRESS RIGHT F*CKING NOW !!!111!!!
    [Dialing for Dollars. That number once again, 1-800-GET-PORK. Operators are standing by.]

    I really really really hope President Obama pays for those 2 dog parks.
    [“Yes We Canine!” and “Bark Obowwow” Porkulus Parks.]

    154 projects in Nebraska and every single last one of them in Lincoln and Omaha. Surprise, surprise, surprise. b*st*rds.
    [IMPEACH OBAMA NOW!]

    Woohoo! We’re getting fire hydrants!
    [Sorry, they’re going to the dog parks.]

    DU Thread Dummie Funnies got their material from:

    http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389×4961734

  12. rosettasister Says:

    If President Obama Blows The Stimulus….

    http://hughhewitt.townhall.com/blog/g/7e10a3d3-4ceb-4e09-9fc2-66a3ac2ac869

    … there is a high degree of expectation about the bill’s impact, and a high degree of awareness about its imperfections –a situation of political peril for the new president.

    President Obama has been given an opportunity to spend a trillion dollars, and if he does and the economy stays flat or in even negative growth because he chose a partisan path at the opening of his allegedly bipartisan adminstration, that story line will never get rewritten.

    Senators McConnell, Kyl and Alexander represent the GOP. The new president ought to be working with them to make sure the bill works, and not just for Acorn and various special interests.

  13. rosettasister Says:

    From FoxNewsElectionHQ

    Some Democrats (Ben Nelson) join Republicans in hopes of changing aim of stimulus bill

  14. rosettasister Says:

    But I have to watch my Larry Kudlow! He’s so … cuddly!

    “Boycott CNBC Day on Tuesday February 3”

    http://blog.stocktwits.com/post/75051422/boycott-cnbc-day-on-tuesday-february-3

    bbl

  15. budgy Says:

    Fox News is reporting that Daschle has withdrawn his name from nomination.

  16. justanamericancindy4 Says:

    Hal Turner talks about what New Hampshire is doing

    http://www.halturnershow.blogspot.com/2009/02/new-hampshire-talks-civil-war-against.html

  17. budgy Says:

    http://www.jpost.com/servlet/Satellite?cid=1233304671028&pagename=JPost%2FJPArticle%2FShowFull

    Netanyahu promises to overthrow Hamas…link above is from Drudge.

  18. LadyTexan Says:

    JAC.

    I read that blog you posted. Who is Hal Turner?

    His readers surely are racist!

  19. budgy Says:

    This is way off topic but it was 50 years ago today that Buddy Holly’s plane crashed.

    http://wesawthat.blogspot.com/2009/02/buddy-holly-and-day-music-died-50-years.html

  20. LadyTexan Says:

    budgy

    That’s great new about Daschle. I hope he’s red-faced embarrased.

  21. LadyTexan Says:

    Another one bited the dust:

    Obama pick, Nancy Killefer, withdraws as tax problems take their toll on nominees

  22. budgy Says:

    Dr. Orly’s site has been hacked? She or someone says to go to Defend our Freedoms….?

    http://feedproxy.google.com/~r/blogspot/cXKe/~3/KVbF-pOmsTk/somebody-has-sabotaged-this-site-please.html

  23. budgy Says:

    LadyTexan…Daschle should be embarrassed! What a scum.

  24. sliderblaze Says:

    IT’S A CIRCUS: DASCHLE OUT

    Drudge headline……fitting

  25. justanamericancindy4 Says:

    LadyTexan

    sorry didn’t read the comments…..

    I read the actual bill last night that is being sent to congress……. I came across this by link..and it covered the highlights

  26. LadyTexan Says:

    Yeah, Orly has moved her site.

    Only bad thing about it, is it’s harder to read.

  27. LadyTexan Says:

    JAC,

    No nee to be sorry. I just had never heard of him. Then I read the comments. It took me by surprise.

  28. justanamericancindy4 Says:

    The actual Bill for New Hampshire

    http://www.gencourt.state.nh.us/legislation/2009/HCR0006.html

    Heard 25 other states are in the beginnings of doing the same thing..but that hasn’t been confirmed….except for Oklahoma and Texas

  29. susie hudson Says:

    In the year of our lord two thousand and nine…New Hampshire, Live Free or Die” this has got to be embarassing obama slightly…makes me laugh.
    Lately Ive been picking on NH, because weve had a huge influx of greasy massachuesettes Kennedy loving Liberals move into NH and completely change what this state stands for.
    In the last 20 years mass-holes have taken over this naturally born conservative state and practically ruined it, but I see theres still enough of us die hard republicans to put up a fight….they raised the crap out of taxes in taxachuesettes and the rest of new england{ mostly Maine and NH} are paying for it by the transients…..they voted in all the liberal A-holes..kerry, kennedy, Duvall obama patrick…then they run to another state after they made a mess to frig up new states by electing liberal scum up here too

  30. susie hudson Says:

    If Nh succeeds {LOL} Id love to ship all the mass-holes back to kennedy country and secure our boarders, except Maine…Cut out mass and the new vermont. wow, Im being so unpc right now…but I love it. Get obama, Fema, the feds out of our lives, what could be better. plus Ive always disliked being the first state to vote, especially now that the stinkin liberals invaded our rightous state….obama was the first vote cast in america in nov., and it came from a place that never had won a vote for a democrat…..
    NH has taken notice and gone on the alert….OBAMA YOUR FIRED!!

  31. budgy Says:

    Is North Korea serious or trying to get Obama’s attention?

    http://www.breitbart.com/article.php?id=D96493480&show_article=1

  32. susie hudson Says:

    Plus I cant t think of two better states to be connected with in this fight…TEXAS AND OKLAHOMA!! truely two of my most respected states

  33. budgy Says:

    “The United States will use “all elements of our national power” to deal with Iran, White House spokesman Robert Gibbs said Tuesday after Tehran said it had launched a satellite into orbit. “

  34. rosettasister Says:

    In an effort to try and make sense of this whole printing money and issuing debt thing, I found the following.

    But I am just at the beginning of my search. Just wanted to share these links. Don’t know if they are valuable or not.

    Public Choice III
    By Dennis C. Mueller, C. W. Bowie

    http://books.google.com/books?id=CdIOKZWc3oMC

    “The only truly effective constraints on government in the long run are contained in constitutional rules limiting government’s power to tax, issue debt, and print money.”

    This may be one blog to follow:

    brad setser: follow the money

    http://blogs.cfr.org/setser/

    Two recent posts:

    us-trade-deficit-and-external-debt

    Should the US worry about the drop in foreign demand for US long-term assets?

    http://blogs.cfr.org/setser/2009/01/21/should-the-us-worry-about-the-drop-in-foreign-demand-for-us-long-term-assets/

    central-bank-reserves

    Secrets of SAFE: A trillion of Treasuries here, a trillion there and pretty soon you are talking about real money …

    http://blogs.cfr.org/setser/2009/01/30/secrets-of-safe-a-trillion-or-close-of-treasuries-here-a-trillion-there-and-pretty-soon-you-are-talking-about-real-money/

    It should be a surprise that China’s government now has close to a trillion in Treasuries. OK, not quite a trillion. But darn close. $860 billion or so at the end of November and – if current trends continue — over $900 billion at the end of December.

    China also has $550 billion or so of Agencies, which are effectively now backstopped by the Treasury. That works out to an enormous bet by China’s government on US government bonds.

    Bbl

  35. justanamericancindy4 Says:

    susie hudson

    The States doing this is just a warning shot to the Federal Government… that they will not allow them to infringe on the Constitutional rights of their citizens or thier state rights under the Constitution.

    It’s a step in the right direction.. What is most important right now is damage control…If Bammy and his thugs can’t pass those maxis laws then they lose much of their power to damage us as a nation..
    ALL states need to do this…

  36. justanamericancindy4 Says:

    Obama Replacing ‘Hail to the Chief’ With Sting’s ‘Desert Rose’?

    http://newsbusters.org/blogs/tim-graham/2009/02/02/informality-excess-obama-replacing-hail-chief-stings-desert-rose

  37. budgy Says:

    JAC…Obama Replacing ‘Hail to the Chief’ With Sting’s ‘Desert Rose’?
    ===============================

    Bloody incredible. The unpatriotic #@$%&*

  38. rosettasister Says:

    In case you’re interested in what some on the left are saying about the stimulus, this is a good site for podcasts:

    http://feeds.wnyc.org/wnyc_bl

    For example, this is from yesterday:

    Senator Robert Menendez (D-NJ) discusses the economic recovery package in the U.S. Senate.

    http://www.wnyc.org/shows/bl/episodes/2009/02/02/segments/122658

    Going outside, see you later!

  39. justanamericancindy4 Says:

    budgy

    he IS a pompas a$$

  40. budgy Says:

    Did you all see this? Tucson’s coverage of the superbowl on Comcast was interrupted for about 10 seconds when porn was broadcast.

    http://www.foxnews.com/story/0,2933,487066,00.html

  41. budgy Says:

    Breaking news!…Bailed-out Wells Fargo plans Vegas casino junkets.
    Fox News reporting now.

  42. justanamericancindy4 Says:

    budgy

    when I was a realtor, I hated dealing with Wells Fargo …. most of the agents I had to deal with were idiots….. I had to hold the hands of their clients and pester WF for loan information….many closings were delayed because of their errors in paperwork

  43. budgy Says:

    JAC..have a question for you. I was just reading that Al Franken owes $70,000.00 in back taxes. If he ends up winning the recount against Colman, what can be done? Will he or can he be asked to step down also since he was elected and not appointed. WTH is going on with all these Democrats not paying their taxes?

  44. budgy Says:

    oops…forgot the link about Franken’s taxes.

    http://townhall.com/blog/g/853c3fff-af1e-4b45-8569-b594129fd5d3

  45. justanamericancindy4 Says:

    budgy

    If he is made Senator, then it would up to the state he represents to recall his seat…His state has standing to do this……

    I haven’t looked it up.. but that would be my guess

  46. justanamericancindy4 Says:

    I’m not Dem bashing…. but since so many extreme liberals have moved into the democratic party…..they seem to have a consciences of being above the law..

  47. budgy Says:

    Thanks JAC….let’s hope and prayer that Coleman finally wins that recount.

  48. budgy Says:

    *pray not prayer. jeesh! typo problems today. I sure need an edit post button. lol

  49. ddlew2 Says:

    Hey guys, lets not forget that Wells Fargo didn’t want the bailout money. They were and are doing great as a bank. Paulson FORCED Wells Fargo into accepting 25 billion in bailout money. Heck, Fargo had just purchased Wachovia Bank two weeks earlier for 18 billion in CASH!

    Don’t blame Fargo. This crap your reading in the liberal media just PROVES that the bailout wasn’t about helping banks but rather as a method to CONTROL banks.

    This is all about the socialist movement. Don’t be fooled!!

  50. Tenacity Says:

    budgy Says:
    February 3, 2009 at 8:55 pm

    JAC..have a question for you. I was just reading that Al Franken owes $70,000.00 in back taxes. If he ends up winning the recount against Colman, what can be done? Will he or can he be asked to step down also since he was elected and not appointed. WTH is going on with all these Democrats not paying their taxes?
    *******************
    Well, I can give you 3 theories:
    1) They are thieves and see themselves as above the law.
    2) They know that the National debt is going to get wiped out when the dollar crashes & the treasury goes bankrupt. They figure if they wait long enough, it won’t matter. Besides, why should they pay the interest on paper issued by a private cartel? That is where over 86% of income tax goes don’t you know. The gubernment operates off of other taxes. Almost all of our 1040 taxes ends up in the pockets of the owners of the Federal Reserve, World bank and Tri-lateral Commission and all those that they pay-off to support their dirty little secret.
    3) They are aware that most federal income tax is unconstitutional because it is a direct unapportioned tax on labor. Which means they are not above the law, they are just not as big a sucker as the rest of the citizenry. In other words, they are smarter than everybody else.

  51. Tenacity Says:

    dd,
    You are correct…as usual…but what Cindy was saying is absolutely true about WF. They are a pathetic banking organization. It’s just that being poor at marketing and having a bureaucratic style of business saved them because they were not over extended with loans vs. reserves. This is one case where being a bunch of thick headed pencil pushers turned out to be beneficial.

  52. LadyTexan Says:

    http://patriotroom.com/article/pelosi-the-stupidest-thing-any-politician-has-ever-said

    Pelosi: The Stupidest thing Any Politician has Ever Said
    by: Scott Martin posted: 2009-02-03 16:10:00

    Speaker of the House Nancy Pelosi wins, while setting the bar sky high for anyone trying to top it. 500 million Americans will lose their jobs if the stimulus plan doesn’t pass?

    Imagine if George W. Bush had ever said anything this stupid. The MSM would’ve run it nonstop for years. I wonder what the follow-up question was.

    *********************

    Things that make you go hmmmmmm…..

  53. Tenacity Says:

    Pelosi = Post Turtle. You just can’t help but to want to help her down.

  54. budgy Says:

    Citizen Wells has a new post regarding Rezko being moved to a different facility. Is he talking? hmmm. Interesting comment from a Chicago whistleblower–he gives details about what’s going on in Chicago.

  55. susie hudson Says:

    rezco will be singing like a canary soon, and so will our beloved ex gov…chicago holds many secrets and theirs is just the character to let it all out. those politicians in the windy city are not the faithful ethical type. obama has a lot of hushing up to do because the tell all book is on its way….whos going to disappear first

  56. Tenacity Says:

    Devvy Kidd is on Plains Radio now. http://plainsradio.com/chat1.html

  57. rosettasister Says:

    Have a wonderful and safe evening and night, good people!

    New Thread:

    https://rosettasister.wordpress.com/2009/02/04/you-have-loved-enough/

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