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Rep. Barney Frank calls for 25% cut in military spending...

Frank envisions post-election stimulus from Democrats
October 24, 2008 6:00 AM

NEW BEDFORD — After the November election, Democrats will push for a second economic stimulus package that includes money for the states' stalled infrastructure projects, along with help paying for healthcare expenses, food stamps and extended unemployment benefits, U.S. Rep. Barney Frank said Thursday.

In a meeting with the editorial board of The Standard-Times, Rep. Frank, D-Mass., also called for a 25 percent cut in military spending, saying the Pentagon has to start choosing from its many weapons programs, and that upper-income taxpayers are going to see an increase in what they are asked to pay.

The military cuts also mean getting out of Iraq sooner, he said.

"The people of Iraq want us out, and we want to stay over their objection," he said. "It's extraordinary." The Maliki government in Iraq "can't sell (the withdrawal deal with the U.S.) because it sounds like we're going to stay too long."

"I was teasing (U.S. Rep.) Jack Murtha (a key supporter of military budgets) and I said to him, 'For the first time, somebody else has got a bill that's almost as big as yours.' We don't need all these fancy new weapons. I think there needs to be additional review."

Rep. Frank called on President Bush to appoint a senior official to guide the economic stimulus packages through the transition to the Barack Obama or John McCain administration when it takes office in January.

And he said that if the Democrats can't find an adequate agreement on a stimulus package in the lame-duck Congress, they would rather wait until the new Congress takes over — likely with many more Democrats, if polling results bear fruit in the November voting.

The new package, he said, will be aimed at easing fears about lending and investing. "The psychological problem is even worse than the real problem," he said.

"There is money to lend and projects worth borrowing money to do. But people are afraid to lend. That's what we're trying to unfreeze."

States have many infrastructure projects — bridges, highways, etc. — that have been shut down because of a cash-flow problems, he said. So it is not the case that a stimulus will take months or years to wait for design and approval, since projects are already in progress or ready to go.

Also, he said, "we'll increase the federal share of medical care so states won't have to lay off people." Unemployment insurance benefits won't increase, he said, but the period of collecting them will, and eligibility requirements might be relaxed.

And, ultimately, there will be tax increases on the upper brackets. "We'll have to raise taxes ultimately. Not now, but eventually," he said.

Contact Steve Urbon at surbon@s-t.com


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Added: Oct-24-2008 
By: miamisam
In:
Iraq, News
Tags: Barney Frank, Democrats, liberal
Views: 10136 | Comments: 34 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
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  • I call for a 100% cut of liberals on American soil.

    Posted Oct-24-2008 By 

    (5) | Report

    • I call for cutting your bag and your bun buddy Bawney Fwanks too

      Posted Oct-24-2008 By 

      (0) | Report

    • you're just another american advocate of fascism on liveleak

      unimpressed

      Posted Oct-24-2008 By 

      (-11) | Report

    • Sounds good to me!

      Posted Oct-24-2008 By 

      (1) | Report

    • You can have Bawney Fwanks

      Posted Oct-24-2008 By 

      (1) | Report

    • Fascism
      Main Entry:
      fascism Listen to the pronunciation of fascism
      Pronunciation:
      %u02C8fa-%u02CCshi-z%u0259m also %u02C8fa-%u02CCsi-
      Function:
      noun
      Etymology:
      Italian fascismo, from fascio bundle, fasces, group, from Latin fascis bundle & fasces fasces
      Date:
      1921

      1often capitalized : a political philosophy, movement, or regime (as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government heade More..

      Posted Oct-24-2008 By 

      (1) | Report

  • any1 know of any gays high up in defense? quick, hook them up w/ bawney so he wont cut the budget...just like what happened w/ his last deal

    Posted Oct-24-2008 By 

    (1) | Report

  • Comment of user 'spinner223' has been deleted by author (after account deletion)!
  • Comment of user 'StormUSA' has been deleted by author (after account deletion)!
  • Barney Frank is dangerous to the free world.

    Barney Frank is one of the people that caused the world wide financial crisis that you are in now...

    http://www.liveleak.com/view?i=cb4_1222537477

    http://www.youtube.com/watch?v=3QBRIsCkGQ0

    Posted Oct-24-2008 By 

    (0) | Report

  • LIBERALS GTFU

    Posted Oct-25-2008 By 

    (0) | Report

  • we need to cut 25% of bArNeY fRaNkS personal spending

    Posted Oct-25-2008 By 

    (0) | Report

  • Well, over the last year, I've been predicting a %30 haircut over the next 2 years but the 25% is a significant 1 year starting position. Will be interesting to see the final figure. It will be more than 10% or at least the next 2 yrs, per my assessment (regardless of WHO is president).

    It's the fact, Jack. Sorry. Nothing more.

    A few examples of cuts:

    Homeland defense imo should take a major portion of that cut being about $30-40 billion. It could be creatively studied how to make it More..

    Posted Oct-25-2008 By 

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  • God lets hope this is true!

    Posted Oct-25-2008 By 

    (0) | Report

  • http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20081024/NEWS/810240332/-1/NEWS10

    Posted Oct-24-2008 By 

    (-1) | Report

  • Barney Franks should be declared legally retarded and put on a disability pension payable to the mental institution of which he is a resident.

    Posted Oct-25-2008 By 

    (-1) | Report