Rep. Hoyer on Tax Cuts: 'Compromise was Inevitable'

Rep. Hoyer on Tax Cuts: 'Compromise was Inevitable'

Washington : DC : USA | Dec 13, 2010 at 10:44 AM PST
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December 13, 2010 --- Washington, D.C.

The National Press Club invited departing House Majority Leader and perennial statesman Steny Hoyer ( D-MD) to speak today and to outline the Democrats puzzling, as of late, strategy.

Rep. Hoyer pulled few punches, saying that the Obama Administration's acceptance of a continuation of Bush era Tax cuts had left many in the party questioning the logic of the concession.

While the largely unpopular tax cuts will do little to impact job creation and long-term prosperity,Rep. Hoyer said they were 'proven steps to economic recovery'. The compromise was necessary, Hoyer said, because of the political dance around the extension of jobless benefits.

Interesting summation, as I was under the impression that job creation and long-term prosperity were fairly necessary to a recovery, too. Oh well,what do I know?

To achieve Rep. Hoyer and the Dems plan of economic growth, several metrics were listed, among them:

(1.) 'Growth not founded on debt' ( Obviously, the age of sub-prime is over, goodbye easy credit!)

(2.) 'Quality and Quantity of Education' ( Bravo, more on this momentarily)

(3.) 'Quality, not Quantity of existing regulation and their subsequent enforcement' ( A growing sentiment amongst some Americans)

Hoyer reiterated the fact that the Dems and Obama had not caused the economic crisis with bailout legislation, but nor did the Bush Administration. Hoyer remarked that America is in the midst of a '4 decade course of decline' in terms of education and economy.

The facts are these:

(1.) Middle class incomes have remained stagnant since 1980, while the wealthiest 1% of Americans have accumulated 25% of total domestic income.

(2.) The United states is second to Japan in patent applications and poised to fall behind China within the next decade

(3.) On standardized tests, The United States consistently scores lower than China: 20% lower in math and 15% lower in science.

While espousing hopes of more bipartisanship and compromise in the upcoming congress, Hoyer did say Dems will not compromise on health and environmental issues ( Healthcare bill and green energy tax credits) and consumer rights.

Hoyer also remarked on the need to place more emphasis on American manufacturing, saying

"Manufacturing must be a factor. It is a primary source of well-paying middle class jobs,'

This in light of the fact that part of the Dems current strategem is to portray themselves as the 'Party of the People'.

Benjamin Burton Jr. 12/13/2010

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Steny Hoyer
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Benjamin Burton Jr. is based in Atlanta, Georgia, United States of America, and is an Anchor on Allvoices.
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