This writers past commentaries about how wealth has been transferred from the middle class to the wealthy and the problems it has caused has been well documented. It has also been pointed out how wealth has manipulated the stock market, the price of oil, the economy and our elected officials. Wealth has given us the monopoly of the Wall Street Banks who were responsible for the great financial meltdown of 2008. Wealth has also kept those Wall Street Banks from paying the price for their greed.
Now we find out that Warren Buffett comes to the rescue of Bank of America who's stock price has declined over 50%. Mr. Buffett has bought into Bank of America stock to the tune of $5 billion according to the report out of the Associated Press. Buffett according to the report said he considers the bank a strong, well led company. Mr. Buffett has enough wealth to manipulate a stocks price and in the first day of trade after the purchase the stock was up and Buffett had a paper profit of $357 million. Pretty good return even for Buffett, but his goal is long term so just think of what he will make when he decides to sell. Bank of America is one of the 6 Wall Street Banks mentioned above.
No one should get their nose out of joint because some people are wealthy. But when 1% of the most wealthy own 90% of all stocks and bonds and 6 of the largest Wall Street Banks have assets that equal 60% of the nations GDP, one can easily see how they can manipulate almost anything and they usually do. We are told that corporate America is sitting on $2 trillion of profit made just this year, Bank of America had cash and cash equivalent of $402 billion at the end of the second quarter. To top it off it is the wealthy who demand and receive tax breaks, tax loopholes and tax incentives from our elected officials who receive their campaign cash from wealthy donors and their lobby.
The common good of our nation and its people has been pushed aside by wealth and the greed it creates. The middle class quality of life and opportunity has been eroded by this transfer of wealth and the failure of our political leaders to stand up to the wealthy monopoly. Third world countries have no middle class and no power. Corporate America moves its operations to those third world countries for its cheap labor. Does any one think they pay their executives third world wages. They are really not American companies any more nor do they respect the American worker.
Warren Buffett pointed out in an earlier interview that corporate America pays on average approximately 15% in income taxes while the average family pays between 20 and 25% in income taxes. He said the wealthy should be taxed more, but what is he doing about it. The wealthy who say they despise big government are the ones looking for the handouts from big government. If the wealthy used their wealth to enhance the economy, create jobs, support the middle class, take care of their workers, big government would not be so big.
In fact government does have a role in life for our nation and its people. That is the essence of
Democracy. We see it at work after major disasters when people have no one else to look to. A democratic government has its roots in the common good of its people.
Once upon a time the U.S. had leaders who broke up monopolies in favor of the common good. Once upon a time we also had elected officials who served the public good instead of serving the wealthy and their lobby who are only looking out for their own special interest. It is the wealthy who now hold the upper hand. It can easily been seen by those elected officials who now openly flaunt their bidding.
Wealth has its place, but democracy is about government by the people and for the people. The type of wealth being flaunted today is not the American democracy we knew yesterday, or is it a positive force for making a stronger middle class. And that really says it all.
Sunday, August 28, 2011
Monday, August 22, 2011
America The Beautiful: Polluted By A Right Wing Republican Conservative Ideology
No longer is America The Beautiful as seen thru the eyes of the leaders of today's right wing conservative republican party. It started with the election of Ronald Reagan. Mr. Reagan preached that government was the problem. It was too big and too expensive Reagan said and when he left office he was the biggest spender of them all and the biggest deficit spender at that. The national debt increased 186% on his watch. Reagan's attack on the federal government was an attack on the American people, for without the people there would be no government. The baton was passed down that bread the leaders of the republican party that we know today.
Those leaders of the right wing conservative republican party today think of themselves as the elite and look down on everyone else, especially the middle class and those who are truly in need. They lack character, courage, American ideals and the basis integrity in dealing with those things that really matter and make a difference to our country and its people. They are shallow individuals who are indifferent to America and its people's needs. They prefer the wealthy, corporate America and their lobby. They openly lie to the people on matters of importance and engage in personal attacks because they have no record of accomplishments or progress they can talk about.
They can not compete with the voice of reason, it makes them feel inadequate,they talk tough but have no substance. They have never seen a record republican federal deficit they did not love or a national debt increase that bothered them in the least. The past republican administration is a great example.
Those party leaders of today put their anti American ideology before America, its needs and their candidates running for the republican Presidential nomination are running on an anti American platform. They would rather see the President and the country fail and have no real policy or program to keep America the Beautiful. They like to project themselves as "hawkish" but they are really "chicken" because they are not capable of debating the real issues. They hide behind the wedge issues of abortion, gay marriage, the separation of church and state. They have backed off "family values" since they have proved to be hypocrites on the subject matter.
Serving the general needs of the country and its people are not part of their being a public servant. To them America the Beautiful is no longer acceptable. They have substituted their anti American ideology for everything Beautiful America has always stood for. And that really says it all.
Those leaders of the right wing conservative republican party today think of themselves as the elite and look down on everyone else, especially the middle class and those who are truly in need. They lack character, courage, American ideals and the basis integrity in dealing with those things that really matter and make a difference to our country and its people. They are shallow individuals who are indifferent to America and its people's needs. They prefer the wealthy, corporate America and their lobby. They openly lie to the people on matters of importance and engage in personal attacks because they have no record of accomplishments or progress they can talk about.
They can not compete with the voice of reason, it makes them feel inadequate,they talk tough but have no substance. They have never seen a record republican federal deficit they did not love or a national debt increase that bothered them in the least. The past republican administration is a great example.
Those party leaders of today put their anti American ideology before America, its needs and their candidates running for the republican Presidential nomination are running on an anti American platform. They would rather see the President and the country fail and have no real policy or program to keep America the Beautiful. They like to project themselves as "hawkish" but they are really "chicken" because they are not capable of debating the real issues. They hide behind the wedge issues of abortion, gay marriage, the separation of church and state. They have backed off "family values" since they have proved to be hypocrites on the subject matter.
Serving the general needs of the country and its people are not part of their being a public servant. To them America the Beautiful is no longer acceptable. They have substituted their anti American ideology for everything Beautiful America has always stood for. And that really says it all.
Thursday, August 18, 2011
The Republican Party's Presidential Candidates
Some of the names have changed, but not the anti American ideology they preach. The two debates and their campaign speeches are a sad rerun of their recycled rhetoric. They still offer no plans to the American voters and instead they keep up their personal attacks against President Obama. Their oratory is still abortion, big government, federal spending, who among them is the most conservative, tax cuts for the most wealthy, special interest groups and tax breaks for Corporate America.
Their rhetoric goes back to the Reagan years, but now it is more right wing, hypocritical, actual lies, a disdain for the American voter, a love of the special interest groups and down right anti American. They still evoke Reagan's disdain for big government even though Reagan was the biggest federal spender in history when he left office.
This bunch of republican candidates want to finish the job Reagan started and George W. Bush almost finished, that is bankrupt the federal government. That was obvious when the candidates were silent during their party's desire to shut the government down concerning the debt limit extension.
Their campaign is about the same old failed policies of their party. Lower taxes for corporate America, less regulation and make the middle class pay more. Trickle down economics is still their number one policy agenda that has failed dramatically. What could be more dramatic than the pitiful shape Bush and the republican party left the country in when he left office. Their ignorance on the economy, job creation and balancing the federal budget is played out in their past failures.
It would be a devastating blow if one of those candidates would actually be elected President. Yet, it could happen because President Obama has not shown consistent leadership or called the republicans out for what they are. That is a disappointment to all Americans but Obama is still the best candidate to lead our nation even with his short comings. When the election of 2012 rolls around, hopefully the American voters will have realized that the republican party they put in charge in the U.S. House and the republican party candidates are not fit to lead our country with their anti American ideology.
Their rhetoric goes back to the Reagan years, but now it is more right wing, hypocritical, actual lies, a disdain for the American voter, a love of the special interest groups and down right anti American. They still evoke Reagan's disdain for big government even though Reagan was the biggest federal spender in history when he left office.
This bunch of republican candidates want to finish the job Reagan started and George W. Bush almost finished, that is bankrupt the federal government. That was obvious when the candidates were silent during their party's desire to shut the government down concerning the debt limit extension.
Their campaign is about the same old failed policies of their party. Lower taxes for corporate America, less regulation and make the middle class pay more. Trickle down economics is still their number one policy agenda that has failed dramatically. What could be more dramatic than the pitiful shape Bush and the republican party left the country in when he left office. Their ignorance on the economy, job creation and balancing the federal budget is played out in their past failures.
It would be a devastating blow if one of those candidates would actually be elected President. Yet, it could happen because President Obama has not shown consistent leadership or called the republicans out for what they are. That is a disappointment to all Americans but Obama is still the best candidate to lead our nation even with his short comings. When the election of 2012 rolls around, hopefully the American voters will have realized that the republican party they put in charge in the U.S. House and the republican party candidates are not fit to lead our country with their anti American ideology.
Monday, August 15, 2011
The American Electorate: Out Of The Loop On Facts
The American voters ignored the facts concerning the economy, job creation and balancing the federal budget when they voted the republican party to once again lead the U.S. House that gave the country a split congress. The electorate easily forgot that it was the policies of a republican President and his party that gave the country an economic calamity with record job losses, a financial industry failure and who reversed President Clinton's balanced budgets in the very first fiscal year budget of George W. Bush. A disastrous turn around for the country and its people in such a short time.
Then came the mid term election in November that gave the republican party control of the U.S. House. The party that vowed not to work with the President received the backing of the electorate despite the past horrible performance of the republic party that should have been fresh in the voters mind. To make matters worse they elected the extreme element of the republic party, the tea party. The voters used excuses like, "send them a message" and other hype to justify their actions. And now eight months later the republicans in congress continue their opposition to the President's agenda that would move the country and its people forward.
The Obama administration bailed the economy out of the ditch, arrested the record job losses and once again created new jobs that put the GDP back in positive territory. The voters wanted a miracle however because they thought the recovery and job creation was too slow. They forgot about the past record of the republicans failure, the severity of the recession and the fact that it took almost 10 years for our country to recover from the great depression. The Bush and republican meltdown was more than just the average recession.
So the electorate forgot about the past in their eagerness for a miracle and launched by their vote the republican farce that played out in extending the debt ceiling. The republicans looking to hold on to everything responded by voting against everything that would move the country forward by using the false claim of having a mandate by the electorate. No such mandate actually exist and the country and the voters who wanted change now find the country in worse shape since the November elections.
The tactics being used by the republicans in the U.S. house to keep the economy crippled until the next Presidential election is anti-American. It is nothing new and the voters knew that when they went to the polls to vote. The republican party, especially the tea party are laughing out loud that they fooled the voters once again. The voters are also finding out that the tea party took little time to align themselves with corporate America and their lobby to grab a share of campaign contributions.
It was President Clinton who reversed 12 straight years of record deficit spending by the Reagan -Bush administrations, paid down debt, accumulated surpluses and put our house in fiscal order. The republicans are not about to let Obama do the same thing after the George W. Bush disaster. That is what is behind the republican party's anti-American ideology.
Total federal spending at the end of President Obama's first fiscal year budget was down 1.6% from the previous last fiscal year budget of George W. Bush. The first time total federal spending was down in over 50 years. But what the hell, what voter needed those facts. They would rather listen to the republican hype and out right falsehoods. Those voter can not now claim they did not know what would happen because the past record of the republican party tells the true story and speaks for itself.
Then came the mid term election in November that gave the republican party control of the U.S. House. The party that vowed not to work with the President received the backing of the electorate despite the past horrible performance of the republic party that should have been fresh in the voters mind. To make matters worse they elected the extreme element of the republic party, the tea party. The voters used excuses like, "send them a message" and other hype to justify their actions. And now eight months later the republicans in congress continue their opposition to the President's agenda that would move the country and its people forward.
The Obama administration bailed the economy out of the ditch, arrested the record job losses and once again created new jobs that put the GDP back in positive territory. The voters wanted a miracle however because they thought the recovery and job creation was too slow. They forgot about the past record of the republicans failure, the severity of the recession and the fact that it took almost 10 years for our country to recover from the great depression. The Bush and republican meltdown was more than just the average recession.
So the electorate forgot about the past in their eagerness for a miracle and launched by their vote the republican farce that played out in extending the debt ceiling. The republicans looking to hold on to everything responded by voting against everything that would move the country forward by using the false claim of having a mandate by the electorate. No such mandate actually exist and the country and the voters who wanted change now find the country in worse shape since the November elections.
The tactics being used by the republicans in the U.S. house to keep the economy crippled until the next Presidential election is anti-American. It is nothing new and the voters knew that when they went to the polls to vote. The republican party, especially the tea party are laughing out loud that they fooled the voters once again. The voters are also finding out that the tea party took little time to align themselves with corporate America and their lobby to grab a share of campaign contributions.
It was President Clinton who reversed 12 straight years of record deficit spending by the Reagan -Bush administrations, paid down debt, accumulated surpluses and put our house in fiscal order. The republicans are not about to let Obama do the same thing after the George W. Bush disaster. That is what is behind the republican party's anti-American ideology.
Total federal spending at the end of President Obama's first fiscal year budget was down 1.6% from the previous last fiscal year budget of George W. Bush. The first time total federal spending was down in over 50 years. But what the hell, what voter needed those facts. They would rather listen to the republican hype and out right falsehoods. Those voter can not now claim they did not know what would happen because the past record of the republican party tells the true story and speaks for itself.
Monday, August 8, 2011
The Debt Ceiling Special Committee
The President, the leaders of the U.S. Senate and House and members of congress approved of a special commission of 12 to implement the cut of approximately $1.4 trillion from the budget over the next decade. The committee will be appointed by the leaders of each party. This action once again proves that we have a congress that is void of leadership and a President that has not yet learned to lead.
Then to top it off the House has taken a 5 week vacation while the country still is in economic trouble and job creation has been forgotten. The republican party is again taking the lead in trying to prolong the economic problems they and the Bush administration created to sabotage the re election of President Obama.
Appointing committee's is nothing new for congress. It is a way to dodge their responsibilities and put the spot light on some one else. The special committee will be no different than others and corporate America's lobby will be on them like gravy on rice to protect their interest. It will be business as usual and the can will be kicked down the road once again. The republicans on the committee only responsibility is to make sure Obama, the American economy and job creation fail. They do not want to see another republican sponsored depression and recession turned around again on a democratic President's watch.
The news media is no help to the American people. They relish the fact that the congress is dysfunctional, it gives them a perpetual story to report on. They feed the dysfunction of congress by interviewing the same 12 or 15 members of congress over and over again and the people never hear from the hundred's of other members of congress who have something important to say.
The country was coming out of the economic chaos that was brought about by Bush and the republican's failed policies. And things have been getting worse since the republicans took control of the house. The best hope for America and its people is for Obama to start calling out the republican party for their unAmerican ideology and for the people to return both houses of congress to democratic control in the next election and give the democrats at least 60 votes in the senate to cut off debate so the democrats can enact a democratic agenda.
The proof is before our very eyes how the republican agenda has failed. Do the people need any more proof? It is noticeable that the republican party does not talk about the Bush administration and never mention the Clinton administration. There is a reason why, one was a great success, the other was a failure.
Then to top it off the House has taken a 5 week vacation while the country still is in economic trouble and job creation has been forgotten. The republican party is again taking the lead in trying to prolong the economic problems they and the Bush administration created to sabotage the re election of President Obama.
Appointing committee's is nothing new for congress. It is a way to dodge their responsibilities and put the spot light on some one else. The special committee will be no different than others and corporate America's lobby will be on them like gravy on rice to protect their interest. It will be business as usual and the can will be kicked down the road once again. The republicans on the committee only responsibility is to make sure Obama, the American economy and job creation fail. They do not want to see another republican sponsored depression and recession turned around again on a democratic President's watch.
The news media is no help to the American people. They relish the fact that the congress is dysfunctional, it gives them a perpetual story to report on. They feed the dysfunction of congress by interviewing the same 12 or 15 members of congress over and over again and the people never hear from the hundred's of other members of congress who have something important to say.
The country was coming out of the economic chaos that was brought about by Bush and the republican's failed policies. And things have been getting worse since the republicans took control of the house. The best hope for America and its people is for Obama to start calling out the republican party for their unAmerican ideology and for the people to return both houses of congress to democratic control in the next election and give the democrats at least 60 votes in the senate to cut off debate so the democrats can enact a democratic agenda.
The proof is before our very eyes how the republican agenda has failed. Do the people need any more proof? It is noticeable that the republican party does not talk about the Bush administration and never mention the Clinton administration. There is a reason why, one was a great success, the other was a failure.
Wednesday, August 3, 2011
Buddy Roemer: Republican Presidential Candidate
Former Louisiana Governor Buddy Roemer announced his candidancy to join the republican field for their party's nomination for President. In doing so Roemer made it clear that corporate America and their lobby are running things in Washington because of the wealth they pass around in campaign contributions. He also made it clear that is why the status quo in Washington exists.
In his announcement, Roemer showed how campaign finance reform can easily be done by refusing to accept campaign contributions from corporate America and their lobby. Roemer understands that he will probably not be able to compete with the rest of the field who will be more than willing to sell their soul. But the beauty of his decision is that it is the only true way of reform because there are no laws or court in our land who can force him to take campaign contributions or find it to be unconstitutional.
The other beauty part is that it does not cost the tax payers one cent or tie up time in congress passing empty campaign finance reform laws with all the loop holes elected officials love to do. The news media should give Roemer the same coverage they give to others but they won't because most of today's news media is owned by corporate America who support the status quo.
The country needs more candidates like Roemer who reject the buying of elected officials. If enough candidates would do that over a period of time it would catch on. The voting public should understand that to refuse campaign contributions is the only true and workable campaign finance reform that will work for the benefit of America and the people. Voter should express that in the voting booth.
This writer has written several commentaries concerning the subject matter. Maybe just one touched a cord with Mr. Roemer and started the ball rolling. Hopefully, real campaign finance reform the easy way will take hold and set an example of how this simple change will return government to the people and for the people. We already know the status quo of wealth for votes does not work. Understanding the past is still the key to the future. Are there any other candidates out there that have the character and courage? And that really says it all.
In his announcement, Roemer showed how campaign finance reform can easily be done by refusing to accept campaign contributions from corporate America and their lobby. Roemer understands that he will probably not be able to compete with the rest of the field who will be more than willing to sell their soul. But the beauty of his decision is that it is the only true way of reform because there are no laws or court in our land who can force him to take campaign contributions or find it to be unconstitutional.
The other beauty part is that it does not cost the tax payers one cent or tie up time in congress passing empty campaign finance reform laws with all the loop holes elected officials love to do. The news media should give Roemer the same coverage they give to others but they won't because most of today's news media is owned by corporate America who support the status quo.
The country needs more candidates like Roemer who reject the buying of elected officials. If enough candidates would do that over a period of time it would catch on. The voting public should understand that to refuse campaign contributions is the only true and workable campaign finance reform that will work for the benefit of America and the people. Voter should express that in the voting booth.
This writer has written several commentaries concerning the subject matter. Maybe just one touched a cord with Mr. Roemer and started the ball rolling. Hopefully, real campaign finance reform the easy way will take hold and set an example of how this simple change will return government to the people and for the people. We already know the status quo of wealth for votes does not work. Understanding the past is still the key to the future. Are there any other candidates out there that have the character and courage? And that really says it all.
Tuesday, August 2, 2011
Conservatism: The Ugly and UnAmerican Ideology, Chapter II
I wrote a commentary under the above title Jan 30, 2008. That is over 3 years ago and the republican party in congress and their leaders are showing how truly ugly and UnAmerican their ideology really is in the current debt ceiling debate. The party that is most responsible for the national debt being a problem wants the congress and the American people to follow their advise to finish the job they started to bankrupt the country.
The tea party is showing their hand in all of this with their extreme agenda but make no mistake, there is no difference between the tea party and the republican party. They are one and the same and that is why the republican party supported the tea party candidates with money in the last congressional election.
Voters who supported the republican party are receiving what they asked for. They should not be surprised by the damage being done to the country and have no right to be ignorant concerning the republican party's true ideology. I know many of them are complaining and saying that is not what they voted for but the republicans have a past history and the voters knew how conservatism as practiced by today's republicans is truly an ugly and unAmerican ideology. That says it all.
The tea party is showing their hand in all of this with their extreme agenda but make no mistake, there is no difference between the tea party and the republican party. They are one and the same and that is why the republican party supported the tea party candidates with money in the last congressional election.
Voters who supported the republican party are receiving what they asked for. They should not be surprised by the damage being done to the country and have no right to be ignorant concerning the republican party's true ideology. I know many of them are complaining and saying that is not what they voted for but the republicans have a past history and the voters knew how conservatism as practiced by today's republicans is truly an ugly and unAmerican ideology. That says it all.
Monday, August 1, 2011
A Failure In Leadership: Kicking The Can Farther Down The Road
The President and leadership of both parties in congress just kicked the debt limit can down the road again by an agreement on the debt ceiling that is in stages and does not address the problem. In fact it is an agreement that is open ended with no closure.
The President's lack of leadership and courage in dealing with the republican's anti American ideology is a preview of things to come for our nation and its people. The President caved on all the issues he said he supported, revenue enhancement, long term debt limit until after the election and not in stages, a fair and balanced approach and too many other issues he said he believed in.
President Obama and the leaders of congress showed their cowardice by their decision to appoint a super committee to do the work they themselves were elected to do. One can be sure the committee will fail and I will have a future commentary on that subject. Obama's decision to embrace this so called compromise and caving in to those who are responsible in the first place for the national debt to be a problem illustrates just how weak a leader he is. President's Roosevelt, Truman and Kennedy would have called out the republicans for what they are, a bunch of hypocritical liers and fiscal thieves.
The President and the democratic party were on the right side of the issue when they opposed extending the Bush tax cuts for the wealthy and on the right side of the issue concerning the debt ceiling with a balanced approach that would have increased revenue by canceling the tax loop holes and corporate welfare for Corporate America and could have made both cases if handled properly. The President's weakness, lack of leadership and courage on both issues is a prelude to what the average American is in store for.
President Obama has shed all the positive positions he took during the campaign and does not even have a message anymore that he is able to articulate. He talked about having lines in the sand he would never cross, but he let the republican's hot air move those lines back over and over again.
The President has failed his responsibility to the American people who elected him to lead instead of being led. The excuse that this is the best deal he could get indicates the President has been overwhelmed and does not understand what the Presidency is all about. Congress is beyond hope because they suck up to corporate America and the special interest lobby. The President does not have to put up with that and the constitution gives him the authority to look after the well being of the nation and its people. The President lacks those leadership qualities and the courage to step up to the plate and fulfill his constitutional responsibility and duties.
The President's lack of leadership and courage in dealing with the republican's anti American ideology is a preview of things to come for our nation and its people. The President caved on all the issues he said he supported, revenue enhancement, long term debt limit until after the election and not in stages, a fair and balanced approach and too many other issues he said he believed in.
President Obama and the leaders of congress showed their cowardice by their decision to appoint a super committee to do the work they themselves were elected to do. One can be sure the committee will fail and I will have a future commentary on that subject. Obama's decision to embrace this so called compromise and caving in to those who are responsible in the first place for the national debt to be a problem illustrates just how weak a leader he is. President's Roosevelt, Truman and Kennedy would have called out the republicans for what they are, a bunch of hypocritical liers and fiscal thieves.
The President and the democratic party were on the right side of the issue when they opposed extending the Bush tax cuts for the wealthy and on the right side of the issue concerning the debt ceiling with a balanced approach that would have increased revenue by canceling the tax loop holes and corporate welfare for Corporate America and could have made both cases if handled properly. The President's weakness, lack of leadership and courage on both issues is a prelude to what the average American is in store for.
President Obama has shed all the positive positions he took during the campaign and does not even have a message anymore that he is able to articulate. He talked about having lines in the sand he would never cross, but he let the republican's hot air move those lines back over and over again.
The President has failed his responsibility to the American people who elected him to lead instead of being led. The excuse that this is the best deal he could get indicates the President has been overwhelmed and does not understand what the Presidency is all about. Congress is beyond hope because they suck up to corporate America and the special interest lobby. The President does not have to put up with that and the constitution gives him the authority to look after the well being of the nation and its people. The President lacks those leadership qualities and the courage to step up to the plate and fulfill his constitutional responsibility and duties.
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