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Dennis Kucinich on Budget & EconomyDemocratic Representative (OH-10) |
Because of this, under Kucinich's tenure as mayor, Cleveland became the first American city to go into financial default since the Great Depression.
Due in large part to his temperament while in office, he placed seventh on an authoritative list of the ten worst big-city mayors since 1820. When reelection time came around in 1979, he was solidly defeated.
A: I want the people to know what the real story was. I took a stand on behalf of the people of Cleveland to save a municipal electric system. The banks and the utilities in Cleveland, the private utilities, were trying to force me to sell that system. And so on December 15th, 1978, I told the head of the biggest bank, when he told me I had to sell the system in order to get the city's credit renewed, that I wasn't going to do it. The people in Cleveland in 1994 asked me to come back to public life because at that point they expanded a municipal electric system that the banks demanded that I sell, and I showed the ability to stand up for the people.
A: The answer is no. The Fed is actually looking at bailing out the creditors. And what we're looking at is a continuation of the problem and a postponement of the day of reckoning. We need to have a government take strong action where we'll loan money to those who are in trouble. But we need to do that in exchange for having the power, the money-lending power that the banks have right now, come back to the government; government spends money into circulation; and then government can maintain control over the economy. Unless we take this action, we're looking at a situation of the collapse of our economy, and we're looking at a situation where these hedge funds will try to get a bail-out while millions of Americans lose their homes. Save the American homeowners.
A: There's three questions involved here: What are we taxed? Who is paying? And how are our tax dollars spent? Right now we know that those who are in the highest brackets are not paying a fair share. We understand that. And we also understand that a lot of these corporations are taking their business offshore so they can offshore their profits and escape paying tens of billions of dollars in taxation. And we also know that our tax dollars right now are being spent overwhelmingly on war and military buildup. I want to see a new direction. I want to see the wealthy pay their fair share. I want to make sure that these corporations, if they have an American name, have to pay taxes here, and I want to see the end of war as an instrument of policy.
Not really. In 2006 (the last year for which final numbers are available), defense accounted for 23.6% of total spending. That is a significant percentage of our spending, but it pales in comparison to the 46.3% we are spending on various entitlement programs.
DEAN: The first priority is balancing the budget. What we will do is lay out a plan to balance the budget and include some sort of plan to increase corporate taxes, just as Lieberman has suggested, because corporate taxes are now at the lowest level since 1934, which means the rest of us are paying the rest of the tax burden and that's not fair.
KUCINICH: Dean takes the position that he's going to balance the budget, but he said repeatedly that he won't touch Pentagon spending. Half the discretionary budget of the US goes for the Pentagon. The solution is get out of Iraq, cut the bloated Pentagon budget by 15%, and stop the tax cuts that are going to the wealthy.
DEAN: There are an enormous number of needs in defense that aren't getting met: special operations, an anti-terrorist task force, human intelligence; cyber intelligence; soldiers aren't paid properly. What I will do is leave the Pentagon budget alone.
A: The truth of the matter is that we should have a full-employment economy. With the government, the employer of last resort, there ought to be jobs, enough jobs for all who want to work. And as president, I will create a full-employment economy by sponsoring a WPA-type program, which will rebuild America's cities and rural communities, new bridges, water systems, sewer systems, new energy systems, put millions of people back to work.
KUCINICH: When you consider that a steelworker who's making $40,000 a year has virtually the same tax burden as someone who's making $400,000 a year, you see that there are inequities. This administration has used the tax code to accelerate wealth to the top. Most of the tax breaks have gone to people in the top bracket.
And what does that mean? That means that we have a diminishing capacity to take care of needs here at home. Look what's happened with this budget the administration has just submitted. They're cutting funds for job programs, for veterans, for health care, for education, for all the real social needs. So the wealth continues to be redistributed upward. We need a tax code that's fair. But we need to cancel the Bush tax cuts that go to people in the top bracket.
KUCINICH: The following steps need to be taken in order to begin to help the American economy recover. First of all, when you consider that we've lost 2.7 million manufacturing jobs since July of 2000, it's shocking but the US does not have a manufacturing policy, an economic policy which states that the maintenance of steel, automotive, aerospace and shipping is vital to our national economy and our national security. We will have a policy when I'm president.
A: The only way to meet pressing social needs and be fiscally responsible is to cut the runaway Pentagon budget, which now almost equals the military spending of all other countries in the world combined. My Administration would eliminate the Star Wars National Missile Defense system, the profligate F-22 and Joint Strike Fighter and other expensive, unworkable and unnecessary weapons systems. Plus, I would ban weapons in space.
SUPPORTER'S ARGUMENT FOR VOTING YES:Rep. WATERS: This bill preserves public housing. The administration eliminated the one-for-one replacement requirement in 1996, effectively triggering a national sloughing off of our Nation's public housing inventory. Housing authorities have consistently built back fewer units than they have torn down and, as a result, over 30,000 units have been lost. I urge you to support our Nation's low-income families and to preserve our housing stock.
OPPONENT'S ARGUMENT FOR VOTING NO:Rep. HENSARLING: President Reagan once said that the nearest thing to eternal life on Earth is a Federal program, and I don't think there is any better case study than perhaps the HOPE VI program. If there was ever a program that cried out for termination, it's this one.
This program began in 1992 with a very noble purpose of taking 86,000 units of severely distressed public housing and replacing them, demolishing them. Well, it achieved its mission. But somewhere along the line we had this thing in Washington known as mission creep.
We already have 80-plus Federal housing programs, and the budget for Federal housing programs has almost doubled in the last 10 years, from $15.4 billion to more than $30 billion now. So it's very hard to argue that somehow Federal housing programs have been shortchanged.
LEGISLATIVE OUTCOME:Bill passed House, 271-130
