Common Sense Should Reign in Economic Stimulus Plan (Editorial)

Congress finally got back to business recently — well, sort of. After all, politics must be dealt with, and this is an election year.

Meanwhile, the still weakened economy, which both parties say they want to propel out of the recession, is showing signs of a steady recovery without any stimulus package from Congress.

Sort of makes us wonder if we couldn’t do about as well without all that government up there. Certainly not an original thought.

Last week, however, Senate Majority Leader Tom Daschle, D-S.D., gave some indication that the two sides possibly could get past their own partisan causes long enough to pass an economic stimulus bill that actually might put the welfare of the country first.

In a letter to President Bush, Daschle said it was time for “a non-partisan, common sense approach” on the economic stimulus package. Amen to that.

“Let’s immediately pass what we agree on, and keep working to find common ground in the areas where we still disagree,” Daschle wrote. Now that is a novel idea by Beltway standards.

The reason for the partisan shenanigans is obvious: mid-term elections. The GOP would love to recapture control of the Senate. The Democrats would like to gain control of both houses of Congress. Either way, it could greatly affect Bush’s reelection chances.

Republicans say the best way to boost the economy is to accelerate tax cuts passed into law last year and cut corporate minimum taxes. This would create a better environment for employers to hire workers, Bush said.

Democrats want to expand unemployment benefits for part-time and temporary workers who are currently not eligible. They see the GOP plan as handouts to big corporations and the rich.

Regardless, any economic stimulus package will take months to take effect, and the most important thing is not to over-stimulate the economy and give rise to inflation.

While Congress plays during the recession, business and the American people are showing signs of coming back without its assistance.

We wonder if Congress will learn any lessons from all this.