Shelby: Saving the American economy requires GOP, Dems to work together

<p>TUSCALOOSA | U.S. Sen. Richard Shelby, R-Ala., said he believes that, going forward, the Republicans and Democrats in Washington are going to have to try a new approach in order to advance the country for the American people.</p><p>Bipartisan cooperation is the only way to avoid the economic calamities looming before the country, he said. </p><p>“We've got to work together if we want to accomplish something and move forward in a positive way,” Shelby said.</p><p>His remarks came after Monday's groundbreaking ceremony for The Lofts at City Center, a $100 million mixed-used development under construction at the site of the former Wood Square Shopping Center.</p><p>Shelby, a Tuscaloosa resident, acknowledged that he had hoped to work with a different president during the next four years. But Republican Mitt Romney's defeat earlier this month eliminated that possibility.</p><p>Shelby said he hopes to see a genuine attempt at compromise by President Barack Obama and the House and Senate Republicans to avoid the “fiscal cliff” crisis that could push the U.S. into another recession.</p><p>Shelby, like the rest of Congress, is home for the Thanksgiving holiday.</p><p>But Congress returns to work next week, with negotiations on handling the “fiscal cliff” at the top of the agenda.</p><p>The “fiscal cliff” is the term given to the expected tax increases and governmental program cuts that would occur on Jan. 1 unless Congress and the White House act to prevent them.</p><p>The tax increases would occur with the expiration of tax rates enacted during President George W. Bush's term.</p><p>Obama said he wants to keep the tax rates in place for the poor and middle class, but raise them for the wealthy.</p><p>Republicans, however, have said they believe the cuts should remain for all.</p><p>“I hope we (avoid the fiscal cliff),” Shelby said. “I think the president can do something about it if he wants to, and the Republicans can, too.</p><p>“I just hope we can find somewhere to meet in the middle.”</p><p>The senator said such action is crucial for the American economy.</p><p>Also, it will help ensure the U.S. doesn't follow the 17-country Eurozone into a double-dip recession.</p><p>“Europe is on fire — in a negative way — just about everywhere except Germany ...,” Shelby said, referring to the lone economic pillar within the region. “The problem is, we don't have a Germany to bail us out. We have to do it ourselves.”</p><p>Reach Jason Morton at jason.morton@tuscaloosanews.com or 205-722-0200.</p>