From the office of Congressman Andy Harris:
Today’s mediocre jobs report for July indicates a stalled economy – the report states that the share of the eligible population holding a job has declined to 58.1%, the lowest since July 1983. With the national unemployment rate at 9.1%, and only 117,000 jobs added last month, it is clear that a new fiscal policy course must be charted.
“It is apparent that America’s job creators remain concerned, resulting in a continuation of the worst unemployment streak since the Great Depression. We cannot continue down the President’s path of higher taxes, increased regulation, and more wasteful government spending” said Rep. Andy Harris. “We need accountability. We need to send a strong signal to the rest of the world, and especially to America’s job creators, that Washington has a permanent solution to its reckless spending. It’s time we pass a Balanced Budget Amendment to the Constitution to restore global confidence in the American economy and bring back jobs.”
Since the passage of President Obama’s cornerstone economic policy, the trillion-dollar Stimulus package of 2009, 1.8 million American jobs have been shed, the unemployment rate has risen, and the federal debt has increased to $14.5 trillion. According to the Bureau of Labor Statistics, at least 150,000 new jobs need to be created each month just to keep up with population growth. The economy is not growing fast enough to employ the nearly 14 million Americans looking for jobs.
concerned Republican says
Can the honorable member of congress talk about something other then a balance budget amendment. We may need to increase taxes to help with the money problems. I have no problem paying higher taxes, if it goes to the right reason. What do you think the Tydings Bridge and Hatem Bridge increases are? TAXES! Just under another “word”. It is time for congress to stop talking and work to find the solution. I may not agree with President Obama on a lot of issues, bu the still needs to work with each side to make our economy stronger. I just saw that our rating went from AAA to AA. Guess all the fighting, in congress, really helped the USA with higher interest rates and THAT IS ALSO A TAX.
wherespatton says
Even if you increased the top 1% taxes to 50%, hell, even 100%, you would not collect an additional 1 trillion in tax revenue.
You cannot tax your way out of 14+ trillion in debt. You MUST stop cutting “the baseline” (or the 7% annual increase in the budget over prior years) and start cutting the actual outlays yesterday.
A balanced budget amendment is the only thing that keeps the baby boomers and the seasoned citizens from stealing from the unborn generations. This is precisely the trap that founder Jefferson warned us about, in that stealing wealth from future generations would cause a governmental crisis that would only continue and eventually implode upon itself.
The 100+ trillion dollar in promises bill is coming due, and our rear ends can’t cash the check.
anonymous says
Rep Harris – You just caused our debt to be downgraded and were the root cause of all economic uncertainty that is stagnating Jobs. You are a cowardly weasel looking to cut your personal taxes at the expense of the greatness of our nation. You are a terrorists looking to ruin the rest of us. I look forward to you and the rest of the Tea Party obstructionists and racist Klan for Liberty allies being escorted out of office after your loss in the next election.
MacG says
Congratulations Representative Harris, you and your ilk (Tea Party) types have held the U.S. Government hostage and have shown the world that we are incompetent and for the first time in history our debt rating has been reduced. you have assured yourself of not receiving my vote. I think you have over estimated your constituents and are destined to be a one term representative like your predecessor.
B says
Mac, Anon and CR are right. Balanced budgets, responsible spending of tax dollars, and living within our means are crazy and irresponsible ideas. We should blame those tea partiers who say our debt is too high, and we spend too much, for our rating being lowered.
MacG says
@B, you do not understand what the recent battle over the debt ceiling is about. It is about honoring our obligations for money already spent, not about spending in the future. The debt ceiling debates are based on false premises. Reagan battled the Democrats, Clinton battled the Republicans, Obama battles the Republicans; the debt ceiling is an arbitrary numbered established by ideologues. I do not suspect you will hear this kind of reasoning from your mentors Limbaugh, Hannity, and Beck. By stating your arguments for supporting Representative Harris you have proven that you are subject to propaganda by demagogues and ideologues and you are incapable of conducting your own thinking and producing sound reasoning. I will do my part in the next election to unseat Representative Harris and vote in a real American, a patriot, and a non-seditious Congressperson.
B says
Actually it was about having the leverage to force big government liberals like you, who have buried the country in debt to reign in the sending. Maybe you missed the 2010 election when a majority of the country said we have had enough of the overspending in washington. The events of this past week show that your ways and beliefs are wrong. The “debate” has been and continues to be over our government spending more then it takes in.
40 percent of every dollar we spend is borrowed. Maybe that doesn’t bother you, but I am angry that my daughters will pay to fulfill your need for a security blanket.
Ryan Burbey says
Thank you Mr. Harris for highjacking our political structure and taking part in a ridiculous moment of brinksmanship which has resulted in the USA being downgraded by S&P.
Alex R says
Stand by, Ryan. You haven’t seen anything yet. It is going to happen more and more and more until the spending gets under control. Any and all means that are legal will be used. Spending will be controlled and reduced one way or another. Don’t like it? That’s fine because this is America and you have that right to not like it. They are doing what they promised and we who voted for them are pleased with that and will do everything we can to support them and to elect more of them.
Can’t we all just get along? No, we can’t.
Pissed with the Government says
Really people, why do I need to pay higher taxes for government waste. What we need is flat rate taxes in which every man, woman, corporation, and small business pays the same tax percentage of 10 to 15%.
Obama’s buddy’s at GE paid no corporate taxes last year, kind of a problem don’t you think.
decoydude says
Read the S&P report. Common sense, pragmatic leadership and solutions are vital before we get downgraded again. The country and the majority are more important than politics and the minority. Interest rate hikes are a “tax” on the consumer.
Porter says
@Decoydude – Taxes are taxes on taxpayers. Obama’s excessive spending will ultimately result in inflation which will fall heavily on all citizens.
We were downgraded because our government has spent and borrowed too much and continues to do so.
Porter
Ryan Burbey says
“In our view, the difficulty in framing a consensus on fiscal policy weakens the government’s ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging.”
ALEX R says
MACG, ANON, CR, RYAN ET AL,
Please remove your heads from you know where and then please read the report. Not the liberal media’s headline of the report but the actual report. The debt rating was reduced for one single reason – because the US does not appear willing to bring spending under control.
Let me repeat that because you all don’t seem to get it – DO NOT HAVE OUR SPENDING UNDER CONTROL. Rep. Harris and “his ilk” have been trying to get SPENDING under control. Obama, Reid, Pelosi, Milkulski and “their ilk” have no desire to get spending under control. That’s the money they use to buy re-election.
Getting spending under control is what S&P wants the USA to do and what we refuse to do. So, the rating goes down and the US ultimately pays more in interest because AA debt costs more than AAA rated debt. Maryland’s AAA rating did not go down. Why? Because Maryland must have a balanced budget so O’Malley and “his ilk” just raise taxes more and more and more. Soemtimes they call it a tax, sometimes a user fee, sometimes a toll. Ooops! I made reference to that crazy idea of a balanced budget.
Keesha Jackson says
Sorry, Alex. You are casting pearls before swine. MACG, ANON, RYAN BURBEY, CR et al can’t actually read so don’ expect them to read the report. You tell them to remove their head from wherever. I am actually surprised that without a flashlight and a mirror they can actually find it.
It’s the spending, stupid.
Ryan Burbey says
“…The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed.”
I read it. Despite rumors to the contrary, I can and do read. In fact, I teach reading.
Check this out too…
“Our revised scenarios also take into account the significant negative revisions to historical GDP data that the Bureau of Economic Analysis announced on July 29. From our perspective, the effect of these revisions underscores two related points when evaluating the likely debt trajectory of the U.S. government. First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S. to sovereigns with ‘AAA’ long-term ratings that we view as relevant peers–Canada, France, Germany, and the U.K.–we also observe, based on our base case scenarios for each, that the trajectory of the U.S.’s net public debt is diverging from the others. Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%. However, in contrast with the U.S., we project that the net public debt burdens of these other sovereigns will begin to decline, either before or by 2015.”
Notice that both France and Great Britain have higher debt ratios but maintain AAA rating. HMMM>>>
concerned Republican says
Now why would I have to remove my head from somewhere it isn’t? Why do we talk about a balanced budget amendment to the constitution? That is nearly impossible to achieve. Also, why haven’t you heard anything on the FAA shut down. That is government at it’s worst. 70,000 people were out of work and not a word from our congressman. I thought the congress was elected from the people of a certain distict. How is a one term congressman going to tell the speaker that he is wrong. NOT GONNA HAPPEN. I think we need to get the priorities straight!
Ryan Burbey says
Why not follow Clinton’s model and just pass a tax code and budget that are balanced. You don know the only president in recent history with a balanced budget was Bill Clinton, a Democrat.
Patrick says
@Ryan
A Republican congress under Gingrich forced Clinton to the center-right.
Patrick
Another Political Critic says
“You don know the only president in recent history with a balanced budget was Bill Clinton, a Democrat.”
Who recieved that budget from a GOP congress… Liberals are the first ones to shoot down a balenced budget amendment and the first ones to point out that the last time we had a balanced budget was under a Democrat. Hypocrisy much?
Really, we should be happy that it is only S&P that is downgrading us right now. Not only have we seen that Washington doesn’t work, but we have seen BOTH parties go to their extremes and we are the ones losing. Anyone who thinks we can continue spending at this rate, leave Medicare/SS/Medicaid un-reformed, and not reform the tax code so corporations like GE pay, is only fooling themselves.
MacG says
@ ANOTHER POLITICAL CRITIC – you make your own argument against a balanced budget amendment, there was one in recent history and a balanced budget amendment still does not exist.
Ryan Burbey says
Why not follow Clinton’s model and just pass a tax code and budget that are balanced. You don know the only president in recent history with a balanced budget was Bill Clinton, a Democrat.
Ryan Burbey says
Funny you should say that because I read the report. It says,”The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics.
• More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.
• Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government’s debt dynamics any time soon.
• The outlook on the long-term rating is negative. We could lower the long-term rating to ‘AA’ within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.
…The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.
Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a ‘AAA’ rating and with ‘AAA’ rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions,” June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in framing a consensus on fiscal policy weakens the government’s ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging (ibid).”
Sounds to me like the TeaParty’s strategy of holding the govt. hostage had more to due with the rating then overall spending or debt. Here’s where you can find the entire report:
http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8
B says
So you are saying that the democrats are at fault for not agreeing to more cuts like the Republicans wanted. Aren’t you proving your own point of view wrong?
decoydude says
Thank you Ryan for actually reading the report. I may not agree with you politically, but I applaud your effort to be informed with the real information and not just talking points from the left or right.
Why not look at the upside and downside scenarios from S&P?
The upside scenario which maintains the AA+ assumes a balanced approach of spending cuts and revenue increases(letting the “Bush Tax Cuts” expire).
The downside scenario which downgrades us to AA assumes zero revenue increase and failure to cut spending significantly along with the economic difficulties now present compounded by inaction and market reaction.
Make an effort to at least read the report before being critical. We need real pragmatic solutions not left and right wing political theater at the expense of most working Americans.
Beth says
repost from FB-
Rep Harris is absurd. EVERY good businessperson knows that IF you want your business to stay solid you find ways to cut your expenses AND you must find way to move your products & services to INCREASE YOUR REVENUE. When in the business of managing a government, that is increasing revenues/taxes. Business 101. From the government’s side, if you want cash to MOVE thru the economy and not stay hoarded in mattresses, you have to make it available to the poor and middle class- the folks who actual BUY products that move off shelves quickly.
Rep Harris going to need to look past the TEA party & Norquist-style thinking. Tax money in the coffers will create the ability to create AND COMPLETE jobs, the kind of WPA, TVA, etc jobs that have helped us out of these type situations. These expenditures funnel… The worker on the Hatem Bridge will stop in the restaurant on rt 40 for lunch, which will keep the servers in business, which will allow them to stop at the Weis on the way home and get gas from the station down the street which will allow that guy to… and the cycle goes on in every town and local area where these projects, this GOVERNMENT spending, happens. Why do we think the people of Ft Monmouth, NJ are pissed as hell that the govt job are coming here to APG??
Government spending keeps local economies, LIKE OURS, moving and surviving. We, especially the people of Harford County, survive because of Government. Who are our top CIVILIAN employers? The government. APG (#1, 12000+ jobs), Harford Community College (#3, 1200+jobs), the list goes on… How much of Upper Chesapeake’s (#2, @ 2700+ jobs) patient base is there thru government spending? Medicare, Medicaid, APG employees? How many of our other businesses are here BECAUSE of government? SAIC(#6, 700+ jobs)? How many small businesses survive BECAUSE of their proximity to APG and these other employers?
Government Money, TAX MONEY, cycles thru every fiber of the Harford County community. Even in Cockeysville, Harris should know better. Baltimore County has Social Security Administration (#1, 14000+ jobs) and Towson University (#3, 3300+ jobs). By the way, without Government money, what would the tuition be at Towson or Harford Community? Can any of us realisticallly afford private university tuition? Would some have been able to get these jobs? That’s where we’d be without PUBLIC colleges.
I’m not sure Harris actually THINKS before he jumps on these bandwagons. Where would Harford County be WITHOUT government spending?
Keesha Jackson says
“Where would Harford County be WITHOUT government spending?” You actually wrote that? I don’t have a clue where to start with you if you believe that. Govenment spending allows us to survive? Why, thank you, big government, for allowing me to survive. What can I do for you in return? Do you need some extra money? Here, please, take more of mine. I’m not really surviving as well as I would like to, so could you please spend more?
Patrick says
@Beth
You are absurd. You assume raising tax rates will generate more actual tax revenue. You also assume all businesses benefit from government largess and therefore the businesses and their owners should be happy to pay more taxes.
The Federal government receives 18% of Gross Domestic Product (GDP) in tax revenue and the government spends 25%. We can’t burden the economy/businesses with additional taxes if you want to increase tax revenue you must increase GDP.
Finally, while Harford County and the State of Maryland benefits from government spending no one benefits from wasteful and unsustainable spending. You are either just financially and economically illiterate or a deaf, dumb and blind liberal/progressive ideologue.
Patrick
Turk says
I have eaxtlcy what info I want. Check, please. Wait, it’s free? Awesome!
Cathy says
We are dealing with two different schools of thought in Washington. The Democrats want to tax and spend and give the money to those who don’t work or pay taxes, and they believe government should be in control of everything. The Republicans want lower taxes, less regulation, smaller government, and to give the entrepreneurs the opportunity to succeed. Now, the S&P has cut our credit rating, so which path should we follow if America is going to be the land of opportunity.
We have 51 percent of our citizens who pay no income taxes, so the remaining citizens pay for the rest, and this cannot continue. It has been proven that raising taxes on the higher-income producers, i.e., wealthy, that the revenue derived is not nearly as much as projected. I think Maryland saw that with the millionaire tax. People have ways of lowering their income or moving to another state or country. Everyone should look to Greece to see what we will become if we don’t change our spending habits. The people in Greece have become so accustomed to their handouts that they are now rioting in the streets demanding that they not be cut even it means their country could go bankrupt. The citizens of this country should watch this very closely as they may see themselves.
noble says
Ryan said:
“You don know the only president in recent history with a balanced budget was Bill Clinton, a Democrat.”
Another Political Critic said:
“Who recieved that budget from a GOP congress… Liberals are the first ones to shoot down a balenced budget amendment and the first ones to point out that the last time we had a balanced budget was under a Democrat. Hypocrisy much?”
APC, you and “Monster” should have a chat about the budget process.
http://www.daggerpress.com/2011/08/01/rep-harris-votes-against-the-debt-ceiling-deal-today%e2%80%99s-debt-ceiling-deal-just-doesn%e2%80%99t-go-far-enough/#comments