http://www.cbsnews.com/8301-503544_162-20017335-503544.htmlSo, the Republicans have a new "Contract with America." They call it the "Pledge to America."
The good (IMO):
- Will require that every bill have a citation of constitutional authority
- Give members at least 3 days to read bills before a vote
- Require congressional approval for any new federal regulation that would add to the deficit
Big +1's for citing authority and for doing ANYTHING to stymy Congress from steamrolling anything through in a haphazard manner with no civic comment or accountability for Congress to read bills. Stopping bureaucrats from having fun at their own discretion is always good, too.
The bad (IMO):
- Repeal small business mandates in the new health care law.
- Repeal and Replace health care
This reeks of double-talk. Selective repeal with regards to small business, and talk of "replace." Repeal. Repeal. Repeal. That's all. Repeal.
The ugly (IMO):
- Allow small businesses to take a tax deduction equal to 20 percent of their income
- Roll back non-discretionary spending to 2008 levels before TARP and stimulus (will save $100 billion in first year alone)
- Establish strict budget caps to limit federal spending going forward
- Cancel all future TARP payments and reform Fannie Mae and Freddie Mac
The small business schtick is pure pandering. The two budget items sound good at first, but I don't believe they will get implemented. And if they do, they'll still be too large. We need the WILL to CUT spending, not a LAW to CAP spending. There's a difference, and they don't get it. And canceling TARP payments, as much as I loathe the program, strikes me as a breach of contract and a further incontinuity of the marketplace. Consider it a failure and never authorize it again, but if a payment is scheduled then it should be honored, since changing that schedule has downstream effects that people aren't thinking about yet.