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Tim Johnson on Budget & Economy

Democratic Sr Senator (SD)


Called for banking oversight, but opposed by Bush & GOP

Dykstra said Johnson was part of a federal system that seemed to be “asleep at the wheel” as the nation’s mortgage industry was racing toward a crash. Dykstra questioned whether Johnson’s seat on the Senate Banking Committee had proven useful at all in the months and years leading up to the financial meltdown. “In this whole banking crisis, Sen. Johnson sits on that committee. Either there was something he should have done or there was nothing he could do,” Dykstra said. “Either way, that’s not a stron recommendation.“

Johnson’s campaign said the senator was busy working on the proposed $700 billion bailout of the financial industry, with an agreement expected Monday night or today. Johnson said he had called for more oversight of Fannie Mae and Freddie Mac, the troubled government-supported mortgage entities hard hit by the subprime mortgage crisis. But that call for oversight was opposed by President Bush and Republican supporters in Congress, Johnson’s campaign said.

Source: 2008 S.D. Senate debate reported in Rapid City Journal , Sep 22, 2008

Voted YES on $192B additional anti-recession stimulus spending.

Proponent's argument to vote Yes:Rep. LEWIS (D, GA-5): This bipartisan bill will provide the necessary funds to keep important transportation projects operating in States around the country. The Highway Trust Fund will run out of funding by September. We must act, and we must act now.

Opponent's argument to vote No:Rep. CAMP (R, MI-4): [This interim spending is] needed because the Democrats' economic policy has resulted in record job loss, record deficits, and none of the job creation they promised. Democrats predicted unemployment would top out at 8% if the stimulus passed; instead, it's 9.5% and rising. In Michigan, it's above 15%. The Nation's public debt and unemployment, combined, has risen by a shocking 40% [because of] literally trillions of dollars in additional spending under the Democrats' stimulus, energy, and health plans.

We had a choice when it came to the stimulus last February. We could have chosen a better policy of stimulating private-sector growth creating twice the jobs at half the price. That was the Republican plan. Instead, Democrats insisted on their government focus plan, which has produced no jobs and a mountain of debt.

Reference: Omnibus Appropriations Act Amendment; Bill H.R. 3357 ; vote number 2009-S254 on Jul 30, 2009

Voted YES on additional $825 billion for economic recovery package.

Congressional Summary:Supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for fiscal year ending Sept. 30, 2009.

Proponent's argument to vote Yes:Rep. DAVID OBEY (D, WI-7): This country is facing what most economists consider to be the most serious and the most dangerous economic situation in our lifetimes. This package today is an $825 billion package that does a variety of things to try to reinflate the economy:

  1. creating or saving at least 4 million jobs
  2. rebuilding our basic infrastructure
  3. providing for job retraining for those workers who need to learn new skills
  4. moving toward energy independence
  5. improving our healthcare system so all Americans can have access to quality treatment
  6. providing tax cuts to lessen the impact of this crisis on America's working families.

Opponent's argument to vote No:

Rep. JERRY LEWIS (R, CA-51): Most of us would agree that the recent $700 billion Troubled Asset Relief Program (TARP) is an illustration of how good intentions don't always deliver desired results. When Congress spends too much too quickly, it doesn't think through the details and oversight becomes more difficult. The lesson learned from TARP was this: we cannot manage what we do not measure. We cannot afford to make the same mistake again.

Sen. THAD COCHRAN (R, MS): We are giving the executive branch immense latitude in the disbursement of the spending this bill contains. We are doing so without any documentation of how this spending will stimulate the economy. Normally, this kind of information would be contained in an administration budget. For items that have a short-term stimulative effect, most of us will feel comfortable debating their merits as an emergency measure. But there is a great deal of spending that is not immediately stimulative.

Reference: American Recovery and Reinvestment Act; Bill H.R.1 ; vote number 2009-S061 on Feb 10, 2009

Voted YES on $60B stimulus package for jobs, infrastructure, & energy.

Congressional Summary:
    Supplemental appropriations for:
  1. Infrastructure Investments: Transportation: DOT, FAA, AMTRAK, and FTA
  2. Clean Water (EPA)
  3. Flood Control and Water Resources (ACE)
  4. 21st Century Green High-Performing Public School Facilities (ED)
  5. Energy Development (DOE)
  6. Extension of Unemployment Compensation and Job Training
  7. Temporary Increase in Medicaid Matching Rate
  8. Temporary Increase in Food Assistance

Proponent's argument to vote Yes:Rep. DAVID OBEY (D, WI-7): Congress has tried to do a number of things that would alleviate the squeeze on the middle class. Meanwhile, this economy is sagging. Jobs, income, sales, and industrial production have all gone down. We have lost 600,000 jobs. We are trying to provide a major increase in investments to modernize our infrastructure and to provide well-paying construction jobs at the same time.

Opponent's argument to vote No:Rep. JERRY LEWIS (R, CA-41): Just 2 days ago we were debating an $800 billion continuing resolution. Now in addition to being asked to pay for a bailout for Wall Street, taxpayers are being asked to swallow an additional $60 billion on a laundry list of items I saw for the first time just a few hours ago. The Democratic majority is describing this legislation as a "stimulus package" to help our national economy. But let's not fool ourselves. This is a political document pure and simple. If these priorities are so important, why hasn't this bill gone through the normal legislative process? We should have debated each of the items included in this package.

It doesn't take an economist to tell you that the economy needs our help. But what does this Congress do? It proposes to spend billions more without any offsets in spending. The failure to adhere to PAYGO means that this new spending will be financed through additional borrowing, which will prove a further drag on our struggling economy.

Reference: Job Creation and Unemployment Relief Act; Bill S.3604&HR7110 ; vote number 2008-S206 on Sep 26, 2008

Voted NO on $40B in reduced federal overall spending.

Vote to pass a bill that reduces federal spending by $40 billion over five years by decreasing the amount of funds spent on Medicaid, Medicare, agriculture, employee pensions, conservation, and student loans. The bill also provides a down-payment toward hurricane recovery and reconstruction costs.
Reference: Work, Marriage, and Family Promotion Reconciliation Act; Bill S. 1932 ; vote number 2005-363 on Dec 21, 2005

Voted NO on prioritizing national debt reduction below tax cuts.

Vote to table [kill] an amendment that would increase the amount of the budget that would be used to reduce the national debt by $75 billion over 5 year. The debt reduction would be offset by reducing the tax cut in the budget framework from $150 billion
Reference: Bill S Con Res 101 ; vote number 2000-55 on Apr 5, 2000

Voted YES on 1998 GOP budget.

Approval of the 1998 GOP Budget which would cut spending and taxes.
Status: CR Agreed to Y)78; N)22
Reference: H. Con. Res. 84 as amended; Bill H. Con. Res. 84 ; vote number 1997-92 on May 23, 1997

Voted NO on Balanced-budget constitutional amendment.

Approval of the balanced-budget constitutional amendment.
Status: Joint Resolution Defeated Y)66; N)34
Reference: S. J. Res. 1; Bill S. J. Res. 1 ; vote number 1997-24 on Mar 4, 1997

Balance debt reduction, tax relief, & policy investment.

Johnson signed the Senate New Democrat Coalition letter to Pres.-Elect Bush:

Dear President-Elect Bush,

Members of the Senate New Democrat Coalition and the House New Democrat Coalition are interested in working with you to develop a responsible fiscal policy. We are proud of our records of fiscal discipline that have helped to produce the unprecedented surpluses for our country. We believe that continuing to use part of the surplus to pay down our national debt is a moral obligation that we owe to future generations. As New Democrats, we believe that a delicate balance can be struck between maintaining fiscal discipline, paying down our national debt, responding to the public’s understandable desire for common-sense tax relief and making important investments in our future. We are convinced that your stated goal of providing an excessive tax cut will lead to less debt reduction. This in turn would lead to higher interest rates resulting in lower capital investment and productivity growth and ultimately a lower standard of living for all Americans. We are ready, however, to work with you on a smaller package of tax cuts designed specifically to stimulate our slowing economy in the short run while protecting Social Security and Medicare. In the longer term we are eager to work with you on a policy that encourages individual savings and investment, invests in college education tax credits, promotes research and development and bridges the technology gap that exists in our country today.

Source: Senate New Democrat Coalition letter to Pres.-Elect Bush 01-SNDC2 on Jan 11, 2001

Maintain & enforce existing spending caps in the future.

Johnson adopted the Republican Main Street Partnership issue stance:

What we offer today are not the precise spending decisions of a given year's budget; rather, we call upon the Congress and the nation to adopt the following guidelines for our fiscal policy over the next decade. This long-term blueprint is essential for maintaining both the immediate public-sector goal of balancing the budget and the private-sector goal of a healthy economy. This can be achieved through the following steps:

Source: Republican Main St. Partnership Issue Paper: Fiscal Policy 98-RMSP5 on Sep 9, 1998

Other candidates on Budget & Economy: Tim Johnson on other issues:
SD Gubernatorial:
Dennis Daugaard
SD Senatorial:
John Thune
Larry Pressler
Mike Rounds
Rick Weiland

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SD Archives

Retiring in 2014 election:
GA:Chambliss(R)
IA:Harkin(D)
MI:Levin(D)
MT:Baucus(D)
NE:Johanns(R)
SD:Johnson(D)
WV:Rockefeller(D)

Retired as of Jan. 2013:
AZ:Kyl(R)
CT:Lieberman(D)
HI:Akaka(D)
ME:Snowe(R)
ND:Conrad(D)
NE:Nelson(D)
NM:Bingaman(D)
TX:Hutchison(R)
VA:Webb(D)
WI:Kohl(D)
Senate Vacancies 2013:
HI:Inouye(D,Deceased)
HI:Schatz(D,Appointed)
MA:Kerry(D,Resigned)
MA:Cowan(D,Appointed)
MA:Markey(D,elected)
MA:Gomez(R,lost special election)
NJ:Lautenberg(D,Deceased)
NJ:Chiesa(R,Appointed)
NJ:Booker(D,running)
NJ:Lonegan(R,running)
SC:DeMint(R,Resigned)
SC:Scott(R,Appointed)

Senate races Nov. 2014:
AK:Begich(D) vs.Miller(R) vs.Treadwell(R) vs.Sullivan(R)
AL:Sessions(R) vs.Bright(D)
AR:Pryor(D) vs.Cotton(R)
CO:Udall(D) vs.Buck(R) vs.Hill(R) vs.Baumgardner(R) vs.Stephens(R)
DE:Coons(D) vs.O`Donnell(R)
GA:Gingrey(R) vs.Nunn(D) vs.Perdue(R) vs.Handel(R) vs.Broun(R) vs.Kingston(R)
HI:Schatz(D) vs.Hanabusa(D) vs.Cavasso(R)
IA:Braley(D) vs.Whitaker(R) vs.Ernst(R) vs.Clovis(R)
ID:Risch(R) vs.LaRocco(D)
IL:Durbin(D) vs.Truax(R) vs.Oberweis(R) vs.Hansen(L)
KS:Roberts(R) vs.Tiahrt(R)
KY:McConnell(R) vs.Bevin(R) vs.Grimes(D)
LA:Landrieu(D) vs.Cassidy(R) vs.Maness(R)
ME:Collins(R) vs.D`Amboise(R) vs.Bellows(D)
MI:Land(R) vs.Peters(D) vs.Wiedenhoeft(R)
MN:Franken(D) vs.Abeler(R)
MS:Cochran(R) vs.McDaniel(R) vs.Childers(D)
MT:Edmunds(R) vs.Daines(R) vs.Bohlinger(D) vs.Walsh(D)
NC:Hagan(D) vs.Tillis(R)
NE:Sasse(R) vs.Osborn(R) vs.Stenberg(R)
NH:Shaheen(D) vs.Martin(R) vs.Brown(R) vs.Smith(R) vs.Rubens(R) vs.Testerman(R)
NM:Udall(D) vs.Sanchez(R)
OK:Inhofe(R) vs.Silverstein(D)
OR:Merkley(D) vs.Conger(R)
RI:Reed(D) vs.Carcieri(R)
SC-2:Scott(R) vs.Wade(D)
SC-6:Graham(R) vs.Stamper(D) vs.Mace(R) vs.Bright(R)
SD:Rounds(R) vs.Weiland(D) vs.Pressler(I)
TN:Alexander(R) vs.Carr(R)
TX:Cornyn(R) vs.Stockman(R) vs.Roland(L)
VA:Warner(D) vs.McDonnell(R) vs.Radtke(R)
WV:Capito(R) vs.Raese(R) vs.Tennant(D) vs.McGeehan(R)
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Page last updated: Dec 27, 2013