Nancy Pelosi wrote last week in the USA Today that “we” (meaning the Congress, of course–she certainly doesn’t mean “We the People”) need to do more.  Another stimulus package.  And it appears that Bernanke is going to support it, even though the Bush Administration has been “cool” to the idea (meaning they will eventually support it, but only after trying to sound like Fiscal Conservatives).

FOR THE LOVE OF GOD STOP!!!

There is NO evidence that the economy will even be slightly “stimulated” by more action by the Fed or Congress.  Their meddling has INCREASED uncertainty, not decreased it, and everything looks obviously like it’s been thrown against the wall to see what’ll stick.

The dirty little secret here, and the thing that noone is willing to say out loud:

“Middle Class” stimulus does not “stimulate” the economy.  The “trickle up” theory has WAY less evidence behind it than the “trickle down” theory.  Tax cuts on the top 1% increase revenues to the government and create jobs.  Tax hikes on the top 1% do the opposite.  Tax cuts to the Middle Class decrease revenues to the Government and have little effect on jobs.

Maybe it’s not “fair” but it’s the facts.

Bernanke’s support of a fiscal stimulus package further proves that he has no confidence that a monetary stimulus package will have any effect at all.  And of course it won’t.  One commentar on MarketWatch called a Bernanke speech, “The ULTIMATE sell signal.”  He’s not far from the truth.

Great quote from Nancy Pelosi:

“If freedom loving people throughout the world do not speak out against China’s oppression and China and Tibet, we have lost all moral authority to speak on behalf of human rights anywhere in the world,” said Mrs. Pelosi, a Democrat.

I must give the good speaker credit when due.  I wouldn’t expect Denny Hastert to be visiting the Dalai Lama.  George W Bush, who has talked a good game about spreading democracy, has been much more ambivalent on his approach to China, and the upcoming olympic games.  For shame, Mr. President.  It is sad to see that on an issue of such importance he is outflanked on the right by Nancy Pelosi, of all people.

This is an interesting way to try to prevent Pelosi from continuing to travel to Iran, Syria, etc. pretending that she is the foreign policy Queen of the United States.

House Republican wants to restrict Pelosi’s travel
House Speaker Nancy Pelosi (D-Calif.) will not be permitted to use State Department funds to travel to nations that are known to have sponsored terrorism if a Republican amendment to appropriations legislation passes the House on Thursday.
The amendment to the $34 billion State and Foreign Operations bill, offered by Rep. Steve King (R-Iowa), prohibits funds to be used to travel to Cuba, Iran, North Korea, Sudan or Syria.
…

http://thehill.com/leading-the-news/house-republican-wants-to-restrict-pelosis-travel-2007-06-21.html

Yeah, can’t say I expected anything miraculous from HRH in the Middle East, but I must say I expected a little more professionalism and tact than this.

This whole fiasco comes on the heels of Nancy’s instructions to President Bush to “take a deep breath” and to respect Congress’ constitutional role, which apparently now includes establishing dipolomatic foreign policy.

washingtonpost.com