By Celia Canon- Talk Radio News Service

Despite the uncertainties that Congressional Republican leaders have on the efficacy of the reform of the International Monetary Fund, House Speaker Nancy Pelosi is adamant that “The IMF will have a strong support from the Democrats.”

Pelosi defended the international organization today at her weekly press conference where she also mentioned the success of her recent bipartisan trip to China.

House Minority Leader John Boehner and Senate Minority Whip Eric Cantormay, backed by other House Representatives who fear that Democrats are fusing two very different entities, the IMF and a bill, together, said that “Weighing down this critical legislation with non-defense spending will only drag this process out further and cost it essential Republican support needed for passage.”

Cantor added that “We should not be having this discussion. IMF funding has no business being included in the war supplemental bill,” while adding that the funding may result in helping terror-sponsoring states such as Pakistan.

The debate over funding of the IMF has stemmed from President Barack Obama’s announcement at the April Group of 20 meeting that $100 billion will be granted to the IMF as part of the U.S war-bill which should further the fight against the global economic crisis.

Obama also said that the U.S would support the IMF as it sell 400 tons of gold, whilst Pelosi reminded that “It [the IMF] has been reformed so that it will help the poor. They wanted to sell gold, we said you can, but the proceeds have to go to help the poor.”

Responding to Cantor’s allegations, Pelosi said “I don’t know why anyone would say that the money is going to the hands of terrorists, it’s simply not based on facts and is a scare tactic.”

Pelosi also said “There are two contradictory things: one says that one shouldn’t be on war funding, which is our responsibility to support our troops in the war in Iraq, end the war in Iraq, bring our troops home and fight terrorism where is it a threat to our country, which is in Afghanistan, and we know that we have to do that.” She added that “The IMF, in its reformed state, can be a force for alleviating the despair amongst people in the world. It’s a very important national security initiative.”

“The issue of the IMF, I think, has strong support on the Democrats’ side; not any support we’re hearing on the Republican side,” Pelosi said.

This war-bill, which involves military and diplomacy costs for Iraq and Afghanistan, will skyrocket to over $100 billion.

House Speaker Nancy Pelosi responds to allegations that the recent IMF funding may lead to terrorism. On the contrary, Pelosi reaffirms that the IMF has been created for economic and humanitarian purposes, adding that the war-bill will only serve to reinforcing the international organization’s work. (0:48)

 

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Coffee Brown, University of New Mexico, Talk Radio News

Republican Representatives emerged from a GOP conference with continuing criticism of the Democratic budget.

This Sunday will be National Debt Day, the day on which federal spending surpasses revenue, and it occurs three and a half months earlier this year than last, said John Boehner (R-Ohio). “I attended a taxpayer tea party in Bakersfield, California; people are angry and they’re scared,” he said, “because the kind of spending and borrowing that are going on here are imprisoning their children’s future.”

Eric Cantor (R-Va.) said, “As we come to the end of the first hundred days of this administration, the era of bipartisanship we’d hoped for could be improved. We do want to work together. Washington should be more thoughtful.”

Cathy McMorris Rodgers (R-Wash.) said that constituents are concerned about debt and the future of America and “The fact that we are facing $9 trillion worth of debt, and that’s going to be on the shoulders of our children and our grand-children.” She said that the Democratic budget lacks transparency and oversight. Constituents, she said, have to tighten their belts, while the federal government is “spending like crazy.”

Mary Fallin (R-Okla.) said the oil and gas producers in her fossil-fuel-rich state are very concerned about Obama’s policy of discouraging carbon-emitting energy. She said that jobs and production are already declining in anticipation of policy changes.
Fallin estimated the Cap-and-Trade taxes would hit $30 billion, working out to about $3,000 per year in increased energy costs for an average household, would fall most heavily on the poor and elderly and would cost seven million jobs.

Mike Pence (R-Ind.) said that hearings on Cap-and-Trade begin this week. He said the Democrats are not providing sufficient information about the costs, though Obama has acknowledged in the past that electricity prices would rise. “The reality is the Cap-and-Trade legislation offered by the Democrats amounts to an economic declaration of war on the Mid-West by liberals on Capitol Hill,” he said.

Pence said the $3,000 per household figure came from an M.I.T. study that estimated the total carbon fees and divided them by the total number of households in America. He acknowledged that the administration had promised ways of mitigating the economic impact for those hardest hit, but said that such promises are vague and “illusory.”

Boehner agreed that we must “get serious” about reducing carbon emissions and reducing the need to import oil, but he urged increased nuclear power as the only realistic way to do that.

Coffee Brown, University of New Mexico, Talk Radio News

House Minority Leader John Boehner (R-Ohio), Republican Whip Eric Cantor (R-Va,), Rep. Paul Ryan (R-Wis.), and Rep. Mike Pence (R-Ind.) presented the broad outline of the Republican budget counter-proposal, stating that details would be forthcoming next week.
Boehner said the President’s proposal “spends, taxes, and borrows too much,” adding “I think it’s completely irresponsible. Our plan curbs spending, creates jobs, and cuts taxes, while controlling the debt.”

Pence called it “the most fiscally irresponsible budget in American history,” saying it calls for “more spending, more government, more bailouts.”

He said the “national energy tax” (Cap-and-Trade) would cost every American household more than $3,000 per year. The increase on marginal tax rates would fall most heavily on small business owners, he said. “We believe it is our obligation to offer a better solution if we are in disagreement,” he finished.

Cantor said the Republicans had presented an alternative stimulus plan and housing plan and were preparing an alternative energy plan as well. He accused the President of turning from a centrist campaign to “ambushing” and “strong-arming” Congress toward a “more ideological” agenda.

Ryan promised the details of the plan next Wednesday on the House floor, calling the president’s version “reckless and irresponsible. It’s a budget that doubles the national debt in 5 and 1/2 years, and triples it in ten and 1/2 years. It’s a budget that increases our national debt and our borrowing more than in all prior presidencies.”

The pamphlet accompanying the announcement was 18 pages long and contained no specifics, but outlined broad policies, such as promoting nuclear power, encouraging enrollment in private insurance plans, reducing spending, reducing taxes, liberalizing exploration for oil in areas currently protected for environmental reasons, and ending “bailouts.”

By Suzia van Swol-University of New Mexico-Talk Radio News Service
House Minority Leader John Boehner (R-Ohio) spoke today about the news conference President Obama will hold this evening. A lot of Americans believe that our economy is in a crisis and they are looking to Washington for solutions, said Boehner. “I believe that Republicans are offering better ideas to the president in hopes of building a better budget.”

Republicans plan to release an alternative budget sometime next week and Boehner said that, “Our alternative will create jobs by allowing American families and small businesses to keep more of what they earn.” He went on to explain that it will ensure that the federal budget doesn’t grow faster than the family budget as well as expand access to healthcare while preserving Social Security and Medicare and reform the financial system.

“This isn’t the first time we’ve offered better solutions, and the resident knows that,” stated Boehner. He explained that he and Congressman Eric Cantor (R-Va.) personally delivered the president a stimulus proposal at the White House in January, “and what was the response? The White House pretended they never even saw it,” said Boehner.

Boehner said that the president’s budget spends too much, taxes too much, and borrows too much from our kids and grandkids. In a time when our economy is in serious recession, “I think Americans deserve better,” stated Boehner.

Boehner said that the President’s budget hurts our economy and destroys the very jobs that we are trying to save and create. “It includes irresponsible levels of spending reaching 5.1 trillion (dollars) ten years out,” and it doubles the debt on our kids and grandkids over the next six years said Boehner.

“I just think that this may be the most irresponsible piece of legislation I’ve seen in my legislative career,” and “It is time for a do-over,” concluded Boehner.

Coffee Brown, University of New Mexico, Talk Radio News

House Majority Leader Steny Hoyer expressed the “outrage that all Americans feel” at AIG executives taking large bonuses on taxpayer money. “These people tried to separate risk from responsibility,” he said, but he was unsure whether there was any legal way to reclaim the money. “The right question is, how can they take these bonuses? Have they no shame? No sense of decency?” The right thing, he continued, would be for them to return the bonuses.
“They thought they would never have to pay the piper. The piper is being paid; not by them, but by the taxpayers,” he finished.

Hoyer also criticized a remark by former Vice President Dick Cheney two days ago that,”I don’t think you can blame the Bush administration for the creation of those (economic) circumstances.” Hoyer provided various quotes from Cheney, House Republican Whip Eric Cantor, Republican Leader John Boehner, and former President George Bush to the effect that Republicans were not responsible for the current financial crisis.

“The last administration started with a January growth of 164,000 jobs. The Obama administration took over in a January that lost 351,000 jobs,” he said. Hoyer contrasted the $5.6 trillion surplus that Bush started with against the $4.5 trillion deficit that Obama inherited. “It’s mind-boggling that the former vice president simply said, ‘well, it’s not our fault.’”