Romney puts forward a plan

American families have lost about $11 trillion in net worth as securities and home values have plummeted. This translates into about $400 billion less annual consumer spending, net of government safety-net funding. Exports won’t grow to make this up, as the dollar has strengthened with investors worldwide clamoring for its relative security. Investments won’t make up the gap either, as bank loans and secondary-market financing have shrunk and as fresh equity is virtually non-existent.

So this is surely the time for economic stimulus. But — and this is the crucial point — the government can’t just make itself bigger and more oppressive in the guise of stimulating the economy. That would make matters worse. Nor should we forget that fiscal stimulus is but one part of the solution. As Christina Romer, Barack Obama’s designee as chairperson of the Council of Economic Advisors concluded from her study of the Great Depression, bad monetary policy was its greatest cause and good monetary policy was its most effective cure. The Fed should continue to expand the money supply. And, it should confirm that it will not tolerate deflation — the pain of inflation pales in comparison.

That being said, a stimulus plan is needed without further delay, and there are some things that Republicans should insist on.

Read Mitt Romney’s economic stimulus plan at National Review online by clicking here.

- Former Massachusetts Gov. Mitt Romney to Fortune Magazine, November 7, 2008 

AFF instead believes a Free Market Recovery Package is needed.

AFF commends the below members of Congress for their opposition to the federal bailout bill.

Aderholt
Akin
Altmire
Bachmann
Barrow
Bartlett (MD)
Barton (TX)
Becerra
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blumenauer
Boyda (KS)
Broun (GA)
Brown-Waite, Ginny
Burgess
Burton (IN)
Butterfield
Buyer
Capito
Carney
Carter
Castor
Cazayoux
Chabot
Chandler
Childers
Clay
Conyers
Costello
Courtney
Culberson
Davis (KY)
Davis, David
Davis, Lincoln
Deal (GA)
DeFazio
Delahunt
Diaz-Balart, L.
Diaz-Balart, M.
Doggett
Doolittle
Drake
Duncan
English (PA)
Feeney
Filner
Flake
Forbes
Fortenberry
Foxx
Franks (AZ)
Gallegly
Garrett (NJ)
Gillibrand
Gingrey

Gohmert
Goode
Goodlatte
Graves
Green, Gene
Grijalva
Hall (TX)
Hastings (WA)
Hayes
Heller
Hensarling
Herseth Sandlin
Hill
Hinchey
Hodes
Holden
Hulshof
Hunter
Inslee
Issa
Jefferson
Johnson (GA)
Johnson (IL)
Johnson, Sam
Jones (NC)
Jordan
Kagen
Kaptur
Keller
King (IA)
Kingston
Kucinich
Lamborn
Lampson
Latham
LaTourette
Latta
Linder
Lipinski
LoBiondo
Lucas
Lynch
Mack
Manzullo
Marchant
Matheson
McCarthy (CA)
McCaul (TX)
McCotter
McDermott
McHenry
McIntyre
McMorris Rodgers
Mica
Michaud
Miller (FL)
Miller (MI)

Moran (KS)
Murphy, Tim
Musgrave
Napolitano
Neugebauer
Nunes
Paul
Payne
Pearce
Pence
Peterson (MN)
Petri
Pitts
Platts
Poe
Price (GA)
Rehberg
Reichert
Renzi
Rodriguez
Rogers (MI)
Rohrabacher
Roskam
Rothman
Roybal-Allard
Royce
Salazar
Sali
Sánchez, Linda T.
Sanchez, Loretta
Scalise
Scott (VA)
Sensenbrenner
Serrano
Shea-Porter
Sherman
Shimkus
Shuler
Smith (NE)
Smith (NJ)
Stark
Stearns
Stupak
Taylor
Thompson (MS)
Tiahrt
Turner
Udall (CO)
Udall (NM)
Visclosky
Walberg
Walz (MN)
Westmoreland
Whitfield (KY)
Wittman (VA)
Young (AK)
Young (FL)

Des Moines, IA – Sen. Harry Reid, who weeks ago sent the Senate on a vacation before debating any meaningful energy legislation, today is in the spotlight as he prepares to deliver a major speech on energy to the Democrat National Convention.

American Future Fund (AFF), in conjunction with its “America First Energy Agenda,” launched radio ads in Nevada this week telling Reid to allow a vote on S. 3202, the Gas Price Reduction Act, in the U.S. Senate.

The ad can be heard here: www.youtube.com/americanfuturefund.

“Senator Reid continues to block votes on comprehensive, common-sense energy solutions,” said AFF Communications Director Tim Albrecht. “As if that weren’t bad enough, he sent all 100 senators on a vacation before any action was taken. He will have a cheering section in Denver, but the rest of America will be jeering his inaction on energy security.”

The ad, produced by McCarthy Marcus Hennings, is the latest in a series of energy security advertisements run by the American Future Fund encouraging the Congress to vote on legislation that will address this national challenge.  AFF has also aired television and radio advertisements on this issue in Colorado, Kentucky, New Hampshire, Nevada, and Washington, D.C.  To hear those ads, click here.

The script of the ad is as follows:

ANNCR:

Harry Reid is scheduled to address the upcoming Democratic Convention in Denver — on the issue of energy.

What do you think Reid will say?

He could talk about how he blocked the Senate from voting to drill for oil – even as gas prices skyrocketed.

…And then sent the Senate on a five-week vacation.

He might claim to support the so-called “Gang of Ten” energy plan. But he probably won’t say what’s really in that plan.

The “Gang of Ten” plan doesn’t allow offshore drilling in the greatest oil reserves.

The plan doesn’t open oil shale reserves – which could contain three times the amount of oil as in Saudi Arabia.

And it would raise energy taxes that consumers could end up paying.

Call Harry Reid: 702-388-5020. Tell him “yes” to new energy – “no” to new taxes. Allow a vote on S. 3202

American Future Fund paid for and is responsible for the content of this ad. Not authorized by any candidate or candidate’s committee. AmericanFutureFund.com

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© American Future Fund, 2008

Des Moines, IA – The American Future Fund (AFF) today launched “High”, a 60-second ad that will run on radio stations across Colorado calling on Congressman Mark Udall to support exploration of domestic sources of energy, including allowing for offshore drilling and exploration for oil shale.

H.R. 6108 would allow for the safe exploration of offshore drilling and oil shale production. AFF supports the passage of this legislation and is encouraging Colorado citizens to contact Congressman Udall and encourage him to support the bill.

The radio ad can be heard here: www.youtube.com/americanfuturefund.

“It’s time for congressional leaders to vote on comprehensive, long-term energy solutions,” said AFF Communications Director Tim Albrecht. “At at time when Coloradans are paying over $4 a gallon for gas, Congressman Udall needs to not stand in the way of American energy.  AFF encourages Coloradans to call Congressman Udall and ask him to vote YES on H.R. 6108 – and stop blocking American energy.”

The initial ad buy runs two weeks, statewide in Colorado.                 

The script of the ad is as follows:

ANNCR:

Gas prices are at an all-time high. But Congress — led by Nancy Pelosi and Mark Udall — has blocked real solutions.

Experts estimate that Colorado has at least 800 billion barrels of oil shale.  That’s more reserves than Saudi Arabia — here in western Colorado.    

Coloradans are looking for new ways to get the energy we need.

But Mark Udall has repeatedly voted against exploration – blocking development of our vast energy resources. That’s more of the politics of delay that have driven gas to four bucks a gallon.

In fact, Udall has voted to delay energy exploration at least thirty-four times.

Coloradans need real solutions on gas prices.

Call Mark Udall: 303-650-7820. Tell him to stop delaying energy exploration and support HR 6108 – for real solutions.

American Future Fund is responsible for the content of this ad. Paid for by American Future Fund. Not authorized by any candidate or candidate’s committee. americanfuturefund.com

# # #

© American Future Fund, 2008

Democrats seem to be tripping over themselves to find new adjectives to describe Wall Street’s oil speculators, railing about “unbridled” profiteers driving up the price at the pump.

But while they may have zeroed in on speculation, the rest of the once-aggressive Democratic energy agenda has gone by the wayside.

Under pressure to have at least some modest accomplishment on energy, Democrats have backed off of proposals for a windfall profits tax, price gouging investigations and suing OPEC. They’ve completely avoided any votes on oil drilling, perhaps fearing that many Democrats would cross party lines and back more exploration. 

A crackdown on speculators — being debated on the Senate floor right now — is the only piece left of a more dramatic agenda released in late April.

Senate Majority Leader Harry Reid (D-Nev.) seemed to realize the modesty of the agenda with just two weeks to go before Congress leaves for a month-long recess and the presidential nominating conventions. He said that “speculation is where we’re starting.” Sen. Patty Murray (D-Wash.), also a member of the Senate leadership, added that “we know that speculation is not the silver bullet.”

Reid seemed to lay down the gauntlet for Republicans, saying that they would get a vote on their alternative energy package (which includes drilling) if they would simply stop filibustering the procedural motion to begin debate on the speculators bill. Reid is trying to back Republicans into a corner and force them to allow debate on the oil speculation issue while not promising any specific votes on drilling, which is the GOP mantra on energy policy.

“Drilling is a red herring,” Reid said. “It is a loss leader.”

Reid and Senate Majority Whip Richard J. Durbin (D-Ill.) are also trying to set up a scenario where they reach out to Republicans and say, “Let’s legislate,” while also offering a very limited number of amendments on energy.

This situation could end up where the energy policy has been for months: in stalemate. The key thing to watch in upcoming votes is whether moderate Senate Republicans, along with politically vulnerable GOP senators, decide to cut their losses and go ahead and vote for the crackdown on speculation so they don’t get hammered in campaign ads for being in bed with Big Oil.

Republicans are planning their own response to Reid’s offer later this afternoon, and The Crypt will update with details.

UPDATE: Senate Republicans say they will insist on a series of amendments involving drilling, conservation and are pushing a much more diverse package than Democrats. And they dismissed the effort to go after speculators alone for now.

“Let’s deal with speculators. Let’s deal with the [oil] leases. Let’s go after every single drop of oil that’s available,” said Sen. George Voinovich (R-Ohio).

Sen. Jon Kyl (R-Ariz.) said he wasn’t ready to publicly negotiate where this energy bill is headed. The next vote isn’t until Tuesday, so expect a long weekend of rhetoric with little agreement on substance or process.

» Continue reading Dems have dramatically scaled back energy agenda

AFF President Nicole Schlinger said, “We are disappointed that the FISA legislation remains on the backburner and urge the Senate to delay their recess until it is passed. This bill has been in consideration since February, and to ignore the public’s protection while they argue over bailing out subprime lenders shows misplaced priorities.”

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