Kagen, Asleep In Shawano Again

Steve Kagen was sleep talking at the Shawano Leader. Will someone wake him up!

"Kagen says stimulus bill will help, but recovery will take years
By Kent Tempus, Leader editor

The $787 billion stimulus bill signed by President Obama this week contains numerous provisions to help taxpayers and businesses in an effort to get the nation’s economy moving, said U.S. Rep. Steve Kagen.

But he emphasized that it may take years to fully recover from the recession, which started with the collapse of housing and mortgage markets and spread into nearly every other sector of the economy.

“It took at least eight years to slide into this economy and it may take us that long to get out,” Kagen said.

And while the American Recovery and Reinvestment Act is gigantic, Kagen said, the nation would end up in worse shape if nothing was done.

“Some say we can’t afford it. We can’t afford not to,” he said.

“The need is now,” he added. “Many people in the district are deciding whether to skip a pill or their next meal.”

If the need is now, how come it's not helping people now? Mr. Kagen, you voted for , congress passed and our president signed the stimulus bill. How long will people keep skipping their pills and miss a meal before your pork bill helps them. When will it start?

Kagen said 181,000 households in the 8th District will receive a tax credit of $400 for single persons or $800 for married couples, while another 61,500 households will be eligible for an additional earned income tax credit of 45 percent on the first $12,570 of income.

My God, we have to wait till 2010 to get our tax credits? Is anyone asking Kagen about this?
Update: I have to correct myself, Kagen is correct, you will get $7.69 a week, but when will that start? Still no specific answer from your 's, not my congressman.

Also, Kagen noted, new car buyers will be able to deduct sales and excise taxes, while another 26,000 households were given a reprieve through a patch of the alternative minimum tax.

Who can buy a car, no one has money! What is he talking about?

“There’s immediate tax cuts for 93 percent of the people in the middle class,” Kagen said.

“This is more money to put in taxpayers’ pockets to help stimulate the economy and help get us through this dry patch,” he added during a stop at the Leader’s office on Wednesday.

He said immediate, show us the money! When will we get it? Is Kent Tempus from the Leader a tody for Kagen or is he really incompetent? ? Why didn't he ask the hard questions? "Mr. Kagen, what do you mean by immediate, what date?" Ask him Kent! "What does immediate mean? Mr. Kagen, when will people get some money?" I had a lot of respect for the Shawano Leader but Kent must of been asleep also!

For small businesses, which Kagen said provide most of the jobs and are responsble for half the nation’s gross domestic product, several provisions should help them grow.

Among them are very-low interest guaranteed loans through the Small Business Administration, a five-year carry back of net operating losses, extension of depreciation, and tax credits for hiring veterans and young people.

"Depreciation, and tax credits", small business won't get that till spring of 2010. What help will they get now to hire and or keep their employee's today?

Those incentives, along with the investment in road construction, school construction and other infrastructure projects, will help small companies increase employment.

"Road construction, school construction and other infrastructure projects", That could be two to four years away, Is Steve Kagen on another planet?

Kagen said the package also includes other important provisions to help people and spur the economy, including an $8,000 tax credit for first-time homebuyers, a $1,500 tax credit for weatherization or energy efficiency improvements, and an extension of benefits for the unemployed to 33 weeks. Other provisions are aimed at helping college students and seniors.

There he goes again, a tax credit for 2010! "A $1,500 tax credit for weatherization or energy efficiency improvements", if people have no money, how can they buy energy improvements to get a tax credit in 2010?

“The hope is it will stimulate the economy so we can work through this recession,” Kagen said. “There’s no country on earth in better position to do that.”

Credit is not flowing, so government action is necessary, he added.

“There is no doubt the government has to be the lender of last resort — when banks are not lending and (interest) rates are crushed to zero, the government .... must step in to begin to stimulate our economy,” Kagen said.

At least here is someone who knows what they are talking about.

Rep. Paul Ryan, who represents southeast Wisconsin, was among Republicans who criticized the legislation. He said only a small portion of the spending in the bill will take place this year and by Fiscal Year 2011 roughly half of the money will be unspent.

Steve Kagen, did you hear that! "A small portion of the spending in the bill will take place this year!"

Ryan also contends there’s a “wish list” of wasteful spending — including $300 million for “green” cars and golf carts for federal bureaucrats, $5.5 billion to improve federal buildings, $1 billion for the 2010 census, $650 million for digital TV coupons, $50 million for the National Endowment of the Arts, and $8 billion high speed Los Angeles-Las Vegas rail line.

“These are a few examples of dubious projects aimed at satisfying interest groups, not economic recovery and job creation,” Ryan said in a statement after the bill was passed.

Worse yet, Ryan notes the Congressional Budget Office says the budgetary impact of the bill would be $1.7 trillion, not including additional costs of interest on the debt.

Kagen, however, said once the new programs begin to improve the economy, Congress would need to show fiscal restraint and cut them back. He also said that he’s urged Gov. Doyle’s task force on the $2.1 billion in federal money coming to Wisconsin make sure it’s spent with transparency and oversight.

Kagen acknowledged there’s more to the solution of improving the economy, including the housing market investment being proposed today though the second half of the $700 billion financial industry rescue plane. Also, Congress must continue to address trade imbalances, he added.

“We need to renegotiate trade decisions and get balanced trade, so that if China sends a ship with $50 billion in goods here, it goes back with $50 billion in American goods,” Kagen said. “Until we have balanced trade, we’ll be having some economic difficulty.”" Shawano Leader

Steve Kagen has no idea what he voted for and is making promises to the people of the 8th district that he cannot keep! Those that voted for Steve Kagen will be the first to be hurt by this pork filled stimulus bill he is bragging about.

You will get what you didn't ask for!