Politics The undeniable logic of Manchin's 'strategic pause'
Joe Manchin, captain of the Senate
The secret to the success of West Virginia's last Democrat standing.“Washington Democrats are making it more difficult for me to be a West Virginia Democrat.
Since the onset of the COVID-19 pandemic, the federal government has more than $5 trillion to combat it and to support American families and businesses. But now, with the economy in recovery, the risks of significant additional federal spending are becoming too obvious to ignore. American families ultimately will pay the price if Washington does not heed these risks.
That's why we support the view of Sen. Joe Manchin (D-W.Va.), who in a recent Wall Street Journal opinion column: "Instead of rushing to spend trillions on new government programs and additional stimulus funding, Congress should hit a strategic pause on the budget-reconciliation legislation."
Manchin lays out long list of demands as key Senate chairs move to win his vote
In the Senate, all roads lead to Joe Manchin. © Drew Angerer/Getty Images Sen. Joe Manchin (D-WV) leaves a lunch with Senate Democrats at the U.S. Capitol on June 22, 2021 in Washington, DC. T The West Virginia Democrat and his staff have been engaged for weeks in intensive negotiations with the chairs of key Senate committees ahead of his party's release of a sprawling bill to expand the social safety net, laying down his demands on a wide-range of issues: health care, education, child care and taxes, according to multiple sources familiar with the talks.
We vigorously support the $1.2 trillion infrastructure package passed by the Senate, because it addresses critical and longstanding national problems and it will spur economic growth and create jobs. It should be paid for and isn't likely to spur inflation, since much of the spending is being disbursed gradually over many years.
The proposed budget reconciliation package is a very different story, however. Many of the goals the package aims to advance - such as improving access to child care and elder care, or combating climate change - are indeed important. They warrant significant debate and potential action from Washington. But rushing headlong into passage of the budget reconciliation package would be irresponsible at this time, and it would run the risk of causing significant long-term damage to the U.S. economy and to America's middle class.
Manchin, Sanders set for clash over Biden spending package
Sens. Joe Manchin (D-W.Va.) and Bernie Sanders (I-Vt.) are hurtling toward a showdown over President Biden's $3.5 trillion spending plan, as they draw red lines around their legislative priorities.The two veteran lawmakers are at opposite ends of the Senate Democratic caucus, with no close working relationship and some high-profile public splits in their past.But the White House and Democratic leaders will need to figure out a way to bring them together, and satisfy their contradictory demands, or suffer a massive defeat of the party's top goals."They really do mirror each other in terms of representing different ends of the Democratic coalition. ...
Video: NEC's Deese on CPI, Labor Market, House Tax Plan (Bloomberg)
There is an ongoing debate about whether the recent spike in inflation is or the beginning of a dangerous long-term economic trend. But there is no debate that if inflation does take hold, it will hurt low- and middle-income Americans the most. As prices rise for fuel, food, housing and other essentials, families simply can't keep up. In fact, this is already happening: Although nominal wages increased over the last seven months, real wages have actually declined, since the dollar's purchasing power has been eaten away by higher inflation.
The U.S. also faces the growing specter of a future debt crisis, as the federal debt as a share of GDP is now higher than at any time and still rising. In addition, according to the federal government's audited financial as of Sept. 30, 2020, we already have more than $100 trillion in liabilities and unfunded promises for programs like Social Security and Medicare, and this number is growing faster than the economy. As a result, simply paying for any new federal spending is not an appropriate goal.
Joe Manchin says AOC is not entitled to her 'own facts' after she said he's beholden to big energy companies
Manchin, a centrist Democrat, is urging his party to slow down the passage of a $3.5 trillion social spending bill. See more stories on Insider's business page. Democratic Sen. Joe Manchin said he "absolutely" does not have weekly meetings with Exxon and slammed Democratic Rep. Alexandria Ocasio-Cortez after she said he was beholden to big energy companies. Last week, Ocasio-Cortez criticized Manchin for urging Democrats to slow down the passage of a $3.
Unlike with the passage of the emergency COVID-19 relief bills, there is no pressing economic need for Congress to immediately spend trillions more. In fact, doing so will likely make it harder for the country's working families, which this $3.5 trillion spending package purports to help.
The responsible course ahead is clear: Pass the bipartisan infrastructure bill that is supported by the president, by 69 senators, and by a significant majority of the American people, and put a strategic pause on the $3.5 trillion additional spending package.
David M. Walker was most recently the Admiral William Crowe Chair Distinguished Visiting Professor at the U.S. Naval Academy, where he taught the Economics of National Security. He was the comptroller general of the United States and director of the U.S. Government Accountability Office from 1998 to 2008. He is a national cofounder of No Labels, a nonprofit organization that promotes bipartisan governance. He has authored four books, the latest is entitled ".
Douglas Holtz-Eakin is the president of the American Action Forum. He was the director of the Congressional Budget Office, 2003-2005, and was chief economist of the President's Council of Economic Advisers, 2001-2002. Follow him on Twitter @djheakin.
Manchin responds to Ocasio-Cortez tweet: 'Continue to divide, divide, divide' .
Sen. Joe Manchin (D-W.Va.) on Sunday responded to criticism from Rep. Alexandria Ocasio-Cortez (D-N.Y.), who claimed in a tweet that Manchin has huddled "weekly" with personnel from Exxon, contending that such attacks "continue to divide, divide, divide."During an appearance on CNN's "State of the Union," Manchin denied having any such meetings with Exxon or other fossil fuel lobbyists."Absolutely not. Absolutely not," Manchin told host DanaDuring an appearance on CNN's "State of the Union," Manchin denied having any such meetings with Exxon or other fossil fuel lobbyists.