Time For Change

Another Republican administration will come to an end in two months with the economy in shambles, massive job losses, layoffs, rising unemployment, massive deficit spending, and debt.  If that sounds all too familiar, it's because that is a description of the republican record and you read it first here on politidose in several articles going back to early this year.

 

Of the last three Republican presidents, Ronald Reagan did the best with the economy, but it too went into decline 18 months before he left office.  He then turned the mess over to Bush 41 who never got hold of the economy and ended up losing his reelection bid to Bill Clinton.

 

All three Republican presidents repeated the same mistake.  They never had a broad base economic policy to create a sustained economy or job creation and instead believed in trickle down economics.  Neither Reagan, Bush 41, or Bush 43 balanced the budget in the 20 years they served, and they are responsible for the majority of the massive national debt which is now in excess of $10 trillion.  It was less than one trillion dollars when Reagan took office.

 

The present Mr. Bush's failed policies are responsible for the massive melt down of the economy and the hardships facing our country.  Republican administrations have repeated and will continue to repeat (if given the chance) the trickle down policy that favors the wealthy over the middle class and has resulted in the greatest transfer of wealth in history.  No economy can be sustained if the middle class does not have the means and resources to fuel the economy.  That is the shameful republican legacy.  It was a Democratic administration led by President Clinton which presided over the greatest economy and job creation in the last 50 years and it was the Clinton administration that advanced the middle class.

 

Those three republican presidents had 20 years to achieve a sustained economy and job creation and help the middle class but they failed the test.  It is time for a change.  Vote Democratic on November 4. 

Overlooked In The Debates

In the second Presidential debate, Senator Obama said if elected President his top priority would be to reduce America's dependence on foreign oil and fossil fuels along with other steps to make America "green. " The  news media failed to pick up on this.

 

Making the "greening" of America a priority makes sense, especially at a time of economic crisis.  The greening of America will create new, sustainable jobs quickly.

 

Many times when America has a crisis, we tend to overlook a lot of little things that add to the crisis and as a result never really solve the underlining causes.  The next President will have the opportunity to put our economic house in order.  The worst thing that could happen with falling oil and gas prices is to return to the status quo and have another repeat of higher energy costs down the road.

 

Our new leader has to make the government work for all the people, especially the middle class, who bear the heaviest burden in every economic crisis.  A growing and sustained economy with job creation is fueled by middle class spending, and without that, the economy does not work.  Tax breaks that favor the wealthy at the expense of the middle class do nothing for a sustained economy and job creation; all one has to do is look at the last 8 years and where we are today on the economy.

 

Senator Obama said an Obama administration would set priorities and it should.  One of the things we need to do early on is to get our own fiscal house in order and go back to balancing the federal budget.  That would solve the great majority of our economic problems and let us do those things that really matter and make a difference for our nation and its people.

Tax Facts

The following information was published by Parade Magazine in its October 12 issue.  The below covers income from less that $19,000.00 (the bottom 20% of earners) to $111,600.00.  I think everyone will agree those brackets cover the "middle class" that both candidates talk about.  The readers can judge for themselves just what plan helps the "middle class" the most.

  Obama's Plan:

 

If you make:                                                 Your average tax savings would be:

Less than $19,000.00                                                                            $567.00

$19,000.00 - $37,600.00                                                                         892.00

$37, 600.00 - $66,400.00                                                                       1118.00

$66,400.00 - 111,600.00                                                                        1264.00

 

McCain's Plan:

 

Less than $19,000.00                                                                               $21.00

$19,000.00 - $37,600.00                                                                           118.00

$37,600.00 - $66,400.00                                                                           325.00

$66,400.00 - $111,600.00                                                                         994.00

Obama's Not Muslim, But So What If He Was?

A Must Watch Video: Gen. Colin Powell

Obama's September Fundraising

Another short post, but this is another absolute shocker that's coming out this morning.  In the month of September, in one month, Barack Obama raised $150 million.  This unprecedented fundraising haul came from 632,000 NEW donors plus old donors returning to support Barack.  And to demonstrate the extent to which the Obama campaign is truly a campaign of the people and not one run by the rich and well-connected, the average donation was under $100.  Great job Democrats and other Obama contributors, keep up the tireless work so that come November 5, we have a President-elect who cares about the Middle Class and will bring true change to all of our lives.  

(John McCain, in comparison, has just $84 million to spend from September to November since he took public financing.) 

O M G: Powell Endorses Obama

Today on Meet the Press, Former Secretary of State and Chairman of the Joint Chiefs will endorse Senator Barack Obama for President.  Sure, a Powell endorsement of Obama was always rumored, but I never thought that it would actually come to fruition. Powell, a long time Republican, I though, was sure to either stay neutral or endorse his party's candidate, John McCain.  And while Powell no doubt deserves some blame for the Iraq War, politically, this endorsement is huge for Obama and an even bigger embarrassment for John McCain.  

A Picture is Worth a Thousand Words

Actually, make that 100,000 words....

Republicans May Censure Their Own

In a story carried by the New Orleans Times Picayune, Roger Villere, the state GOP chairman, and the Louisiana Republican Party is considering ways to discipline more than two dozen prominent Republicans publicly backing incumbent Democratic Senator Mary Landrieu over her GOP opponent, Treasurer John Kennedy.

 

Villere was quoted as saying, "When high-profiled elected Republicans endorse Democrats, it sends the message that we are not united and confuses the Republican message."  In other words, party comes first and the country comes second, and if you are a Republican official you should not have a right to endorse the candidate of your choice or that candidate you think is best qualified to serve the people.  As extreme as that sounds, that is the exact message of Villere and the Republican Party.

 

As a Democrat, I don't get particularly concerned when Democrats disagree with their party on certain issues; I would rather have Democrats have their own independent thoughts rather than just follow the party line.  Republicans meet every day, come up with talking points, and repeat the message over and over like robots; Democrats don't have that problem.

 

The most embarrassing episode for the GOP in this intense Senate race is that four major Republican officials from St. Tammany Parish (where Kennedy lives) are supporting Senator Landrieu.  The real story here is that Senator Landrieu is doing her job representing the people she serves, and even Republicans are aware of her bipartisanship and importance as a senior senator.

The Wealth Parade Continues

Because of what is happening on Wall Street and in the financing industry, lets take a look back at the May 5 issue of Forbes Magazine where Forbes ran a story on the top 20 individual earners of hedge and private equity funds.  Those top 20 earned a combined total of $18.7 billion last year, up 43% from 2006.  Part of the headline reads, "crumbling home prices and $100 oil helped wall street's highest earners to pull in $19 billion last year."  If you averaged out what those 20 earners made, their average earnings would be $935 million each in 2007.  

 

T. Boone Pickens was one of the 20, earning $1.2 billion.  His hedge fund, BP Capital Equity, grew 24% while his commodity fund grew 40% due to large positions in Suncor Energy, Exxon-Mobil, and Occidental Petroleum.  This is the same T. Boone Pickens who now wants to replace gasoline with natural gas as the fuel for automobiles.  

 

Those 20 earners are only a drop in the bucket of the wealthy; their power is so great as to be able to manipulate the financial markets for their own personal gain.  When the market loses 700 points, and price shares are dropping, they are the ones with the financial resources to scoop up those shares.  There is nothing wrong with being wealthy, but when 1% of the people own 50% of stocks, that's called a monopoly.

 

To make matters worse for Americans, the following headline appeared in a major newspaper on September 30.  "Three institutions have been gobbling up financial giants as fast as they fall, building unprecedented market power."  The three to which the headline referred were Bank of America, Citigroup, and J.P. Morgan Chase --- just what the average American needs, another powerful monopoly to control money and wealth and to stick it to the average working American. 

 

If ever our country needed people power, middle class people power at that, it is now.  We have the votes to change things this November, and it is our duty to do so.