Ratings agencies are threatening to downgrade U.S. debt, putting us on red alert that the kind of economic crisis we’re seeing in parts of Europe could very quickly happen here. We know that failing to do something significant about our fiscal problems would be a serious drag on jobs and our economy.Despite this reality, it appears Democrats remain fixated on their years-old playbook of more spending and higher taxes.

Appearing on CBS’ Face the Nation on Sunday, Sen. Chuck Schumer (D-NY), a member of Senate Democrat leadership, called for even more spending, saying, “[E]conomists will tell you that when you build infrastructure, it creates new jobs. And we should be doing something like that. Our roads, our highways, our water and sewer, that’s the old type of infrastructure. And we should be doing some more of that. We should also be doing some new types of infrastructure a– like a national power grid, making sure every home gets broadband.”

Host Bob Schieffer certainly recognized the meaning behind what Schumer was saying, asking him, “You’re really talking about some very grandiose plans there . . . . I guess the question—first question has to be how you’re going to pay for any of this?”

Earlier this month, The Hill had a clearer picture of how Democrats might go about implementing Schumer’s idea, reporting, “Senior Senate Democrats are growing frustrated by what they see as President Obama’s passivity on the economy, and are beginning to discuss a large infrastructure package funded by tax increases. Some Democrats, such as Iowa Sen. Tom Harkin, who serves as chairman of the Health, Education, Labor and Pensions Committee, think such a package could lower the unemployment rate by as much as two percentage points. . . . ‘The last election was about jobs and the economy, and now we’re in a position where we really do need some economic pump-priming by the federal government,’ he said. Sen. Jay Rockefeller (D-W.Va.), chairman of the Senate Commerce Committee, endorsed Harkin’s argument for more infrastructure spending, and said it is gaining support in the broader caucus. ‘There’s very broad support,’ Rockefeller said. ‘There’s no other way to get at this problem.’”

Senate Republican Whip Jon Kyl told Roll Call, “One sure way not to create more jobs is to kill the economy with tax increases. . . . What are the Democrats asking us to do? Raise taxes.” If this country is going to tackle its debt crisis and start creating jobs again, Democrats will need to face the reality that their shopworn prescriptions of ever more government spending and tax hikes will only make things worse.

Related:

Rasmussen Reports:

 45% now say their home is worth more than what they currently owe on their mortgage

Generic Congressional Ballot: Republicans 43%, Democrats 37%

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