Rep. Jim Jordan continues search for clue on economic meltdown

U.S. Rep. Jim Jordan (R – Ohio 4th Congressional District) once again proves that the GOP are slow on the uptake. In a Q & A with Hancock County leaders he just restated talking points while failing to remember that he is in the party that helped lead us to the economic meltdown.

The Republican from Urbana voted against the package Jan. 28, believing that the $819 billion tax and spending bill would only balloon the federal deficit, reportedly headed toward $2 trillion.

Jordan told officials that a “bailout fever” has infected Washington.

“Once you go down this road, everyone gets in line,” he said.

“A much better solution is to reduce the tax burden on small business owners and entrepreneurs” and cut interest rates and capital gains, he said.

Jordan said he and the other 176 House Republicans who voted against the bill did so on principle, not partisanship.

Jordan says Obama plan won’t work

Remember, we tried the tax cuts and those didn’t work either. But at least Jordan didn’t say anything more ridiculous than another Ohio Congressman.

U.S. Rep. Steve Austria (R- Ohio 7th Congressional District) said to the Columbus Dispatch editorial board:

“When (President Franklin) Roosevelt did this, he put our country into a Great Depression,” Austria said. “He tried to borrow and spend, he tried to use the Keynesian approach, and our country ended up in a Great Depression. That’s just history.”

U.S. Rep. Austria blames Depression on Roosevelt

WOW! Steve Austria is a dumbass. The depression started in 1929. Roosevelt took office in 1933. In 1933 Unemployment was 25% and by 1940 it had been lowered to 15%… etc etc etc.

And these guys think they have a better plan?

Rep Jim Jordan still clueless and still hates the Unemployed

I like the old saying attributed to Abraham Lincoln “Better to remain silent and be thought a fool than to speak out and remove all doubt”. Well it seems US Rep Jim Jordan (R-OH 4) seems not to be familiar with that quote because during a conversation with journalists in Findlay this past week, as he was about to start his second term in Congress, he removed all doubt on a number of issues.

In a question and answer format Jordan ran through the various issues facing the country:

Q: Are we not in different circumstances now? Making more credit available, more money available has not worked. The money has been sitting idle. Does not that argue more for government spending, putting people to work on public works projects who are not at work?

A: I would have to say just the opposite. All the government spending has not worked. When you think about the bailout fever that has grabbed Washington, whether it has been the Fed or it has been the Treasury itself (bailing out) Bear Stearns, AIG, Fannie, Freddie, Citigroup, auto bailout… we have tried this. We have been through a year now, spending.

A better approach, I think, is allowing the marketplace, those people who make the marketplace work, to have tax breaks. That will have a better chance of growing the economy versus additional spending. 

and this related answer:

Q: What is the threat to the work ethic?

A: Fifty-three weeks of unemployment insurance… When I was in the (legislature), one of the things we Republicans did for welfare reform was… putting on a time-limits component which said if you are an able-bodied adult after two years of welfare assistance, you are done.

As far as respecting the free market, when you look at all the bailout stuff, that is just anti-free market. 

Jim Jordan: Tax cuts make sense, but spending a concern published in The Findlay Courier 01/10/2008

Did he check his e-mail or read the papers? The free market led to the bail out when selfish profit mongers did stupid things because of a lack of oversight and millions of people got hurt. It would be like cake frosting when the so-called free market would burst into flames, that it would take out the people who caused the flame out in the first place, but they seem to be the ones who get away with it every time.

I wonder if Jordan has ever had no money or so little he had to decide between filling the tank with gas or dinner?

I find in these comments someone who is out of touch with people who are poor and the working poor. Those who have no money and those who make so little that they are one check away from falling into the social safety net.

I don’t know of or have ever known anyone who wanted to be unemployed. Even after losing a job the bills don’t stop. There might be a mortgage to pay, electricity to keep on.

Of course at the end of a long day at the Capitol, Jordan can slip into his warm bed and not have to be concerned about the unemployed, afterall the free market will save the day.

Rep Jim Jordan says “Nay” to the unemployed

On the same day Rep Jim Jordan (R – OH 4th) voted against the Wall Street bailout, he voted against H R 6867. What is H R 6867? The short title is known as Unemployment Compensation Extension Act of 2008. The act extends unemployment benefits for people at least until March 2009.

Yes, Jordan who seemed vote against a bill he felt didn’t provide an American solution to the finance meltdown, didn’t seem to want to help people who are out of work and close to exhausting their unemployment benefits. He was one of 28 Republicans to say “Nay” – the only nays on the bill. It passed the House 368 to 28.

Well at least he is consistent and following in the esteemed steps of Michael Oxley who held the seat before him.

I guess it’s okay for the 6 to 10 percent unemployed across his district. They don’t vote, do they?

Rep Jim Jordan still has no answer to finance crisis but “No”

The US House of Representatives voted 263-171 to pass the Senate version of the so-called “Financial Economic Stabilization Act of 2008” which was meant to bail out Wall Street and get the credit markets moving again. Rep Jim Jordan (R-Urbana) once again voted against the bail out and once again for no apparent reason other than “free market” reasons.

Washington, DC — Today, Congressman Jim Jordan (R-Urbana) issued the following statement on the treasury bailout.

“I understand that there are serious concerns in our financial markets and that it was appropriate for government to attempt to help.

Unfortunately, Washington, as it all too often does, chose a big government “solution,” rather than an “American” solution. Instead of looking to address the concern in a free-market fashion, this tax-and-spend Congress chose to spend $700 billion dollars, the equivalent of one quarter of the federal budget, on a Wall Street bailout.

Washington and Wall Street caused the situation, which is already hurting American families. Now, those same American families are asked to provide the dollars to fix it.

This legislation took our debt limit to $11.3 trillion dollars, proving that this is the wrong approach.

I will continue to protect taxpayers and families from the excessive spending habits of a Congress that is in need of fiscal responsibility.” 

Rep. Jordan Statement on H.R. 1424

No suggestions of what he would do differently, only he didn’t like a big government solution.

In his official statement on why he voted against the first version of the bill he does offer one suggestion:

My support is with an alternative plan that would utilize private capital to solve the problem far better than government bureaucrats. By removing the barriers to risk-taking and investment, and providing a government-backed insurance program as a safety net, we would be laying the groundwork to avoid future problems.

Rep. Jordan Addresses Bailout

The problem with a private capital solution was the time factor and regulations. People who watch the credit markets said that the credit contraction going on on Wall Street would land on Main Street as early as Monday if nothing was done. That means some small businesses would be forced to close because they couldn’t meet their payroll. Some larger companies would come next and then you would see the free fall.

Also those with billions on the side lines would be wary of buying too much which would cause some banking regulations to kick in.

Jordan’s solution might work as a long term solution but the economy might have collapsed before it was set up. The bail out bill at least puts a cork in the free fall allowing for more time to fix the problem.

If Jordan seemed to understand that he might not have voted against the bill. It also seems he might not have read the bill since it includes an insurance program – to be funded with risk-based premiums paid by the industry as printed in Section 102 of the final bill.

Rep. Jim Jordan clueless on Bailout issue

Jim Jordan cracks me up.

“It was a little bit surprising that we were able to prevail,” Jim Jordan (R-Urbana) said after the vote. He represents Ohio’s 4th District and was in Washington for the vote. Jordan, a Republican voted against the plan, which he said would have provided a government solution to a problem that would be best served by the free market. “I think members by the vote tally said loud and clear they want a different solution,” he said. “They want to do it the way America has always done it: with a free market, free enterprise solution.”

Jordan votes against rescue plan

I guess he isn’t aware how Wall Street got hold of those toxic assets. The Free Market!

Yes back in the 1990’s when the GOP was in charge they got rid of those nasty rules and regulations dating from the 1930’s. It was like giving booze and car keys to a teen and asking them to be safe….. and Jordan thinks the free market will help?

I feel bad for average people who will be really hurt if we just let the market collaspe. No credit, no money for growth, no money for new city projects, no money for school buildings etc….. if something isn’t done to bail out the frat boys on Wall Street.

I feel bad that Jordan and the GOP put themselves ahead of the country.