Democrats Already Laying Out Their Post-Election Tax And Spend Agenda
Rep. Barney Frank (D - Fannie Mae) is promising big new spending from the Democrat-controlled house, and he’s saying that if Republicans don’t like it the Democrats would be more than happy to wait until after they get their super majority.
If Republicans continue to resist, said Rep. Barney Frank, D-Mass., Democrats are likely to rejoin the issue in January, when they expect party standard bearer Barack Obama to take the oath of office as president.
“There’s no question the House will pass … a much bigger (stimulus plan) than we passed before,” Frank said of a postelection lame duck session. “If enough Republicans in the Senate decide to filibuster it … then we’ll just wait until January.”
So how will Democrats pay for all this new spending? Well there’s Obama’s proposed tax hikes, but Frank is also talking about a 25% reduction in defense spending.
Yes, 1/4 of all defense spending. During war time.
