The ongoing firing, resignations or force outs of the people Trump hires continue to take place while the country and its people are living in a pandemic time. The latest casualty, the President's press secretary, Stephanie Grisham who Trump appointed to the job last June. She had not held one formal press briefing since her appointment because the Trump administration does not like to brief the White House reporters and then take questions from them. Grisham was Trump's third press secretary in just over 3 years.
Acting Navy Secretary Thomas Modly resigned Tuesday after making unflattering remarks toward Navy Capt. Brett Crozier, skipper of the U.S.S. Roosevelt who disclosed that many navy personnel aboard his ship had tested positive for the coronavirus and that those crew members needed to leave the ship for treatment. Modly fired and removed Crozier of his command and called him stupid, laced with profanity. When Capt. Crozier left his ship, the men under his command gave him a tremendous sound off of approval. The acting Navy Secretary's actions represents another of so many examples how Trump's people act so much like himself with personal attacks against others.
In the 39 months Trump has been in office, his administration is a swinging door. His appointments have come and gone with the wind, and when they leave he has to find fault with their performance even though they were ditto heads. This is a very sad White House that grows worse with time. What a shame.
This commentary written by Joe Lorio
Thursday, April 9, 2020
Sunday, April 5, 2020
The Jobs Report For March and The Unemployment Numbers.
The U.S. Labor Department reported the economy lost 701,000 jobs in March and the unemployment rate came in at 4.4%, up from the 3.5% in February. The report also stated that the job losses were actually more as the survey took place two weeks before the month ended. There were also 6.6 million who applied for unemployment assistance during the month. The job losses were the worst since the great economic recession that took place on President George W. Bush's watch.
The 701,000 loss of jobs in March wiped out all the job gains the previous three months and some in November 2019. So the Trump administration falls farther and farther behind the Obama's record of job creation. And those who follow the facts surely knew the Trump-GOP tax cuts would be a larger drain on the U.S. economy if a crisis ever came because tax cuts are not economic policy. And because of Trump and the GOP's lack of an economic policy, we now have a $2.2 trillion stimulus package whose cost is approximately $800 billion more than the TARP program and the stimulus package passed to address the economic recession of 2008.
The positive job growth that began in 2009 and the record economic expansion of 10 years now comes to an end on the watch of another republican administration. And the increase in deficit spending increased on Trump's watch before the word coronavirus was ever spoken and Trump's own budget director predicted last year that this fiscal years deficit will exceed $1 trillion. It will actually be much greater with the added spending because of the virus.
So the reckless and unnecessary Trump-GOP tax cuts, coupled with Trump's trade wars, the global economic slowdown, the glut of oil on the world market, an overpriced stock market, a lack of an economic policy, the collapse of oil prices and now the coronavirus will take another toll on our country's fiscal house and national debt problem. And once again, for those who follow the facts, it is not just a coincident it is taking place on the watch of a republican administration.
The 701,000 loss of jobs in March wiped out all the job gains the previous three months and some in November 2019. So the Trump administration falls farther and farther behind the Obama's record of job creation. And those who follow the facts surely knew the Trump-GOP tax cuts would be a larger drain on the U.S. economy if a crisis ever came because tax cuts are not economic policy. And because of Trump and the GOP's lack of an economic policy, we now have a $2.2 trillion stimulus package whose cost is approximately $800 billion more than the TARP program and the stimulus package passed to address the economic recession of 2008.
The positive job growth that began in 2009 and the record economic expansion of 10 years now comes to an end on the watch of another republican administration. And the increase in deficit spending increased on Trump's watch before the word coronavirus was ever spoken and Trump's own budget director predicted last year that this fiscal years deficit will exceed $1 trillion. It will actually be much greater with the added spending because of the virus.
So the reckless and unnecessary Trump-GOP tax cuts, coupled with Trump's trade wars, the global economic slowdown, the glut of oil on the world market, an overpriced stock market, a lack of an economic policy, the collapse of oil prices and now the coronavirus will take another toll on our country's fiscal house and national debt problem. And once again, for those who follow the facts, it is not just a coincident it is taking place on the watch of a republican administration.
Friday, April 3, 2020
The Trumpet Man Wants To Be Appreciated.
The impeached President says the nation's governors should appreciate what he gives them in the fight against the coronavirus. It is another tell tale sign that the President is mentally unfit for office and that every thing is about Donald Trump. And he and Vice President Pence are still blaming others for their own mistakes and lack of governing during a pandemic. President Roosevelt guided our country during WWII to produce the materials and goods needed to fight a war against multiple opponents and displayed his courage in governing.
The governors and mayors of our states and cities still lack the critical material and supplies to fight the virus and its effects on the people. And the President still lacks a system to produce and coordinate the distribution of those materials and supplies on a timely basis to cover present needs. Yet, he still attacks state and local leaders when they speak out about those shortages and needs. The President's lack of respect for others during a time of a health crisis is notable, revealing and it is a common practice of this President.
Kellyann Conway, the President's lawyer said on the Fox News Network, Trump's ditto heat network, democratic Presidential candidate Joe Biden should stop criticizing the President's actions and instead offer solutions. But days before her statement, President Trump in answer to a reporters question said he did not seek the advise of any past administration on what they would do because he thought they had no solutions on the coronavirus. But the fact is Joe Biden did offer solutions. He noted the President had the authority to order manufacturing to produce the needed items on short supply to fight the virus. Biden also offered a central distribution point to be more efficient in distributing the needed supplies.
Past Presidents acted in the best interest of the country and its people in good times, in bad times and in a crisis. They did not act seeking appreciation when duty called. They represented leadership with courage, character and a willingness to serve. Donald Trump represents his own self interest and corrupt persona.
This commentary written by Joe Lorio
The governors and mayors of our states and cities still lack the critical material and supplies to fight the virus and its effects on the people. And the President still lacks a system to produce and coordinate the distribution of those materials and supplies on a timely basis to cover present needs. Yet, he still attacks state and local leaders when they speak out about those shortages and needs. The President's lack of respect for others during a time of a health crisis is notable, revealing and it is a common practice of this President.
Kellyann Conway, the President's lawyer said on the Fox News Network, Trump's ditto heat network, democratic Presidential candidate Joe Biden should stop criticizing the President's actions and instead offer solutions. But days before her statement, President Trump in answer to a reporters question said he did not seek the advise of any past administration on what they would do because he thought they had no solutions on the coronavirus. But the fact is Joe Biden did offer solutions. He noted the President had the authority to order manufacturing to produce the needed items on short supply to fight the virus. Biden also offered a central distribution point to be more efficient in distributing the needed supplies.
Past Presidents acted in the best interest of the country and its people in good times, in bad times and in a crisis. They did not act seeking appreciation when duty called. They represented leadership with courage, character and a willingness to serve. Donald Trump represents his own self interest and corrupt persona.
This commentary written by Joe Lorio
Tuesday, March 31, 2020
Louisiana Governor John B. Edwards Does a Better Job Updating The People On The Coronavirus Than President Donald Trump.
Governor Edwards's press briefings concerning the virus in Louisiana has been impressive in bringing the citizens up to date on what is taking place concerning the state and locally. He not only has knowledge on the subject matter he is a calm voice that is prepared, needed and one who understands the government's responsibility in the matter. His has respect for the news media questions and has no problem in answering them. He also asked the news media to pass on facts to the public concerning the ongoing problems.
On the other hand, President Trump's press briefings are disjointed, incoherent at times and factually incorrect on many occasions. And he likes to make it known, every one but he is to blame for any reported problems that surface in fighting the virus. One notable part of his briefings is his reading from notes on most every thing he reports like he is not up to date or familiar with what he is reporting on.
The President's team that joins him at the briefings have the look of people who would much rather be some where else. And they sure do not follow the social distance rule that Trump belatedly accepted from the experts. Trump also hates to take questions from the news media and continues to insult and personally attack them.
The people of Louisiana are better off by tuning in Governor Edward's briefings if they wish to be more factually informed.
This commentary written by Joe Lorio
On the other hand, President Trump's press briefings are disjointed, incoherent at times and factually incorrect on many occasions. And he likes to make it known, every one but he is to blame for any reported problems that surface in fighting the virus. One notable part of his briefings is his reading from notes on most every thing he reports like he is not up to date or familiar with what he is reporting on.
The President's team that joins him at the briefings have the look of people who would much rather be some where else. And they sure do not follow the social distance rule that Trump belatedly accepted from the experts. Trump also hates to take questions from the news media and continues to insult and personally attack them.
The people of Louisiana are better off by tuning in Governor Edward's briefings if they wish to be more factually informed.
This commentary written by Joe Lorio
Monday, March 30, 2020
Republican Opinion Writers : A Failure To Journalze.
The people were told Ronald Reagan's eleventh commandment was that a republican should never talk ill about another republican. Donald Trump did not listen during the 2016 republican primaries or debates and delighted in attacking all his republican opponents, especially in their debates. This writer made commentary about that in PolitiDose at the time it took place and noted that Trump was doing to the republicans what republicans had been doing to democrats for years. At the time republican opinion writers failed to be journalists in their commentary about the matter. So lets examine the republican opinion writers failure to journalize and especially now with the impeached President in the White House.
After 38 months in office one would think that republican opinion writers, radio or TV host would be talking or writing about Trump's accomplishments. But most reports, especially those on Fox News, the Rush Limbaugh show are constantly attacking democrats while Trump and his party are running the show. Their targets are the usual, former President Obama, Nancy Pelosi and Hillary Clinton. Those who follow politics understand why they are not talking about Trump and his party. They can not articulate any immigration reform legislation that he or his party has introduced to congress which Trump said was his number two priority during the 2016 campaign.
They can not articulate any infrastructure legislation that Trump or his party introduced to congress to debate and vote on. That also was a Trump priority. They can not articulate that Trump and the GOP's tax cuts was a job creator like Trump said because job creation under Trump has fallen behind job creation under the Obama administration. And they can not articulate corporate America moving jobs back to America like the tax cuts were supposed to accomplish. And they dare not articulate that infrastructure legislation would have benefited the economy much more than the Trump-GOP tax cuts.
And after 16 years of republicans talking about a health care plan, those republican writers and hosts still can not articulate to the public a republican health care plan that has merit. And what the republicans have always tried to sell the nation that they were the best for foreign policy, they can not articulate what is Trump's foreign policy toward our allies or opponents. The list goes on and on.
The bottom line tell us republican opinion writers and hosts have failed to journalize with input on what really matters and makes a difference. So look for the continued attacks on democrats even though Trump and his party are running the country. At the present time they are up against an entity they can't even see, the coronavirus and its revealing the true story of a mentally unfit President that was impeached for good reason.
This commentary written by Joe Lorio
This commentary written by Joe Lorio
After 38 months in office one would think that republican opinion writers, radio or TV host would be talking or writing about Trump's accomplishments. But most reports, especially those on Fox News, the Rush Limbaugh show are constantly attacking democrats while Trump and his party are running the show. Their targets are the usual, former President Obama, Nancy Pelosi and Hillary Clinton. Those who follow politics understand why they are not talking about Trump and his party. They can not articulate any immigration reform legislation that he or his party has introduced to congress which Trump said was his number two priority during the 2016 campaign.
They can not articulate any infrastructure legislation that Trump or his party introduced to congress to debate and vote on. That also was a Trump priority. They can not articulate that Trump and the GOP's tax cuts was a job creator like Trump said because job creation under Trump has fallen behind job creation under the Obama administration. And they can not articulate corporate America moving jobs back to America like the tax cuts were supposed to accomplish. And they dare not articulate that infrastructure legislation would have benefited the economy much more than the Trump-GOP tax cuts.
And after 16 years of republicans talking about a health care plan, those republican writers and hosts still can not articulate to the public a republican health care plan that has merit. And what the republicans have always tried to sell the nation that they were the best for foreign policy, they can not articulate what is Trump's foreign policy toward our allies or opponents. The list goes on and on.
The bottom line tell us republican opinion writers and hosts have failed to journalize with input on what really matters and makes a difference. So look for the continued attacks on democrats even though Trump and his party are running the country. At the present time they are up against an entity they can't even see, the coronavirus and its revealing the true story of a mentally unfit President that was impeached for good reason.
This commentary written by Joe Lorio
This commentary written by Joe Lorio
Wednesday, March 25, 2020
Understanding the Stock Market and Why The Wealthy Continue To Grow Their Wealth
The stock market sell off of the past two weeks saw the DJIA plunge from the 29,000 range in February to the 18,000 range just this week. And all three averages including the S&P 500 and the NASDAQ fell approximately 25%. But one has to understand what is taking place. Because every sell off has a buyer. With out a buyer, there would be no sell off. So who is buying stocks during a sell off and why if things look so gloomy?
Well the answer happens to be the same people who are doing the selling are doing the buying of other stocks who have lost 20-30% of their value. Those who have a lot of resources are doing the buying also. The Bush recession of 2008 and the resulting stock market crash that lost 40% of its value was a treasure to the wealthy who had the resources to gobble up those stocks at bargain prices and those stocks went up in value all during the Obama administration and continued into the Trump administration until two weeks ago. Millions and millions were made during that period of time and most of those profits have already been cashed out before the present crash. So now the cycle will start all over again,
To really identify the sellers and buyers it is the most wealthy 5% that own 90% of all stocks and bonds. They are the ones who have the resources to do so and to them, the so called crashes are an opportunity to buy stocks at a much reduced value. With their resources they are also able to sell and make millions before the market crashes. They also have the power to manipulate the per share price of stocks. And its no coincident that the last three stock market crashes took place on the republican watch that gave the greatest tax cuts to those who needed them the least and put more money in the pockets of the wealthy. It was an extra bonus for that greedy group.
The Reagan, Bush 43 and Trump administration stock market crashes followed their huge tax cuts that fueled deficit spending. It also kick started the huge gap between the average worker compensation and business. So lets recap what was published in PolitiDose commentary dated 8/17/2018. For the 40 year period 1978-2018 according to the Economic Policy Institute, CEO compensation surged 940% while the average worker saw a meager 12% pay hike over the same period. It took place even though productivity increased dramatically but the reward did not flow to the average worker who made that productivity possible. And to top it off, the majority of the 12% pay hike for the average worker took place during the Clinton administration that did now lower taxes for the wealthy or corporate America.
The 940% increase for CEOs took place during stock market crashes and huge tax cuts for them. It is no coincident and now with the present stock market crash the U.S. Chamber of Commerce, the nations largest business organization in a letter to President Trump asked him to cancel for three months taxes business pay for social security, medicare and unemployment insurance. Three safety net programs they and the republicans hate. They are also asking for other bailouts for business. Just think how better off today the U.S. would be fiscally to handle a disaster like the coronavirus if the Reagan, Bush 43 and Trump tax cuts never took place.
So now with the Trump administration considering a federal bail out for business once again the federal deficit will be even greater. That 5% will continue to gobble up those good stocks that have lost value and make another killing and in the mean time deny sick pay and layoff pay to their own employees. No, it is not just a coincident that tax cuts for those who need them the least, stock market crashes, bank failures, depressions, recessions, deficit spending, a short lived economy with less job creation takes place on the republican watch.
It is also no coincident that during the same 40 year period, the most stable economic and fiscal times took place on the democratic watch of President's Clinton and Obama. And both understood there was not a need to offer large tax reductions for those who needed them the least. It was a real economic policy and plan that was needed.
This commentary written by Joe Lorio
Well the answer happens to be the same people who are doing the selling are doing the buying of other stocks who have lost 20-30% of their value. Those who have a lot of resources are doing the buying also. The Bush recession of 2008 and the resulting stock market crash that lost 40% of its value was a treasure to the wealthy who had the resources to gobble up those stocks at bargain prices and those stocks went up in value all during the Obama administration and continued into the Trump administration until two weeks ago. Millions and millions were made during that period of time and most of those profits have already been cashed out before the present crash. So now the cycle will start all over again,
To really identify the sellers and buyers it is the most wealthy 5% that own 90% of all stocks and bonds. They are the ones who have the resources to do so and to them, the so called crashes are an opportunity to buy stocks at a much reduced value. With their resources they are also able to sell and make millions before the market crashes. They also have the power to manipulate the per share price of stocks. And its no coincident that the last three stock market crashes took place on the republican watch that gave the greatest tax cuts to those who needed them the least and put more money in the pockets of the wealthy. It was an extra bonus for that greedy group.
The Reagan, Bush 43 and Trump administration stock market crashes followed their huge tax cuts that fueled deficit spending. It also kick started the huge gap between the average worker compensation and business. So lets recap what was published in PolitiDose commentary dated 8/17/2018. For the 40 year period 1978-2018 according to the Economic Policy Institute, CEO compensation surged 940% while the average worker saw a meager 12% pay hike over the same period. It took place even though productivity increased dramatically but the reward did not flow to the average worker who made that productivity possible. And to top it off, the majority of the 12% pay hike for the average worker took place during the Clinton administration that did now lower taxes for the wealthy or corporate America.
The 940% increase for CEOs took place during stock market crashes and huge tax cuts for them. It is no coincident and now with the present stock market crash the U.S. Chamber of Commerce, the nations largest business organization in a letter to President Trump asked him to cancel for three months taxes business pay for social security, medicare and unemployment insurance. Three safety net programs they and the republicans hate. They are also asking for other bailouts for business. Just think how better off today the U.S. would be fiscally to handle a disaster like the coronavirus if the Reagan, Bush 43 and Trump tax cuts never took place.
So now with the Trump administration considering a federal bail out for business once again the federal deficit will be even greater. That 5% will continue to gobble up those good stocks that have lost value and make another killing and in the mean time deny sick pay and layoff pay to their own employees. No, it is not just a coincident that tax cuts for those who need them the least, stock market crashes, bank failures, depressions, recessions, deficit spending, a short lived economy with less job creation takes place on the republican watch.
It is also no coincident that during the same 40 year period, the most stable economic and fiscal times took place on the democratic watch of President's Clinton and Obama. And both understood there was not a need to offer large tax reductions for those who needed them the least. It was a real economic policy and plan that was needed.
This commentary written by Joe Lorio
Saturday, March 21, 2020
The Pundits can not get over it and are now asking the question: How could the Sanders Campaign collapse so quickly?
Yes, the pundits are at it again and searching for answers to the question. This writer believes the answers were in PolitiDose commentary when Sanders ran in 2016 and commentary made during the present campaign. But the pundits in the news media are not interested in a true evaluation of political campaigns because their reports are aimed at moving public opinion that sells and not what matters.
As noted in 2016 and the present by this writer, Sanders is not a democrat and does not represent the democratic party or democratic policy, nor does he speak for the democratic party. And in two presidential campaigns, Sanders is a three issue candidate. Health Care, specie interest and campaign finance reform. That is a little tiresome, especially since Sanders has served in congress for over 20 years and has failed to turn the rhetoric into legislation.
Sanders, a registered independent, lost votes by not running as an independent, and as soon as the Nevada, Iowa and New Hampshire primaries (flea primaries) were over, the voters flocked to the democratic candidate Joe Biden in large numbers. Sanders had his back to the wall because he was doomed both ways. He could not win the democratic nomination, nor could he run and win as a third party independent. The pundits never had a clue.
The blue wave that gave Hillary Clinton 48% of the popular vote (which she won) in the 2016 Presidential election, the blue wave that returned the democratic party to control of the U.S. House and the blue wave that defeated two republican governors in Kentucky and Virginia and elected two democratic governors are still rolling in the 2020 Presidential primaries. And Senator Sanders is floating away. The pundits never saw it coming.
This commentary written by Joe Lorio
As noted in 2016 and the present by this writer, Sanders is not a democrat and does not represent the democratic party or democratic policy, nor does he speak for the democratic party. And in two presidential campaigns, Sanders is a three issue candidate. Health Care, specie interest and campaign finance reform. That is a little tiresome, especially since Sanders has served in congress for over 20 years and has failed to turn the rhetoric into legislation.
Sanders, a registered independent, lost votes by not running as an independent, and as soon as the Nevada, Iowa and New Hampshire primaries (flea primaries) were over, the voters flocked to the democratic candidate Joe Biden in large numbers. Sanders had his back to the wall because he was doomed both ways. He could not win the democratic nomination, nor could he run and win as a third party independent. The pundits never had a clue.
The blue wave that gave Hillary Clinton 48% of the popular vote (which she won) in the 2016 Presidential election, the blue wave that returned the democratic party to control of the U.S. House and the blue wave that defeated two republican governors in Kentucky and Virginia and elected two democratic governors are still rolling in the 2020 Presidential primaries. And Senator Sanders is floating away. The pundits never saw it coming.
This commentary written by Joe Lorio
Friday, March 20, 2020
The Greatest Virus Threat To The U.S. Economy: The Trump-GOP Tax Cut of 2017 and Corporate Greed
The Trump-GOP tax cuts of 2017 that reduced the Corporate tax rate 14%, yes, you read that right 14%, was unnecessary for the U.S. economy that was in its 8th straight year of economic expansion and job creation was steady averaging 225,000 a month for the last 36 months of the Obama administration. What was best for the economy at that time was Hillary Clinton's priority promise to rebuild and repair the nations infrastructure that would have added new job growth immediately, increased the GDP and those new jobs would have been at a pay scale higher than the average workers pay. Infrastructure was and still is a very needy project of an old system in need of repair and rebuilding.
The 14% tax reduction turned out to be a stimulus for the stock market as corporate America used those savings to buy back and enhance their own stock which ran up the price per share and over priced the market They also increased the salaries and bonus of their CEO's and executives at the expense of their average worker. Those savings could have been used to provide family and sick leave for their employees and for a rainy day that would support employees laid off because of work stoppages caused by nature such as the coronavirus. But now, corporate America is again asking the federal government to bail them out and pay sick leave and other expenses of those laid off workers because of the virus.
What is taking place today, took place in the past with the Bush 43 tax cuts and the following deep recession. The U.S. economy received more benefits from President Obama's stimulus than it did from both the Bush and Trump tax cuts because the stimulus was targeted and over a period of years. It also cost the federal government, therefore the people much less than the Bush and Trump tax cuts. The Obama stimulus cost $787 billion while the Bush and Trump tax cuts cost $3.6 Trillion and $1,5 trillion respectfully. The federal deficit decreased on President Obama's watch from what it was at the end of George W. Bush's last fiscal year. The federal deficit increased on George W. Bush's watch and so far it has increased on Trump's watch. And more jobs were created on Obama's watch in 8 years than were created on Bush's (8) and Trump's (3) watch in the 11 years they have served.
And needless to say, we know Bill Clinton's administration created more jobs in 8 years than were created during the Reagan, Bush 41 and Bush 43 administration in the 20 years they served. Clinton's performance on the economy and job creation shamed those three President even though Reagan and Bush 43 gave corporate America and the wealthy huge decreases in taxes to accomplish what Clinton did without cutting taxes. Plus Clinton reduced deficit spending every year in his first 4 years in office and then balanced the budget all 4 years of his second term with record surpluses. But Reagan, Bush 41 and Bush 43 never balanced one federal budget in the 20 years they ran the country. And Trump is following in their footsteps.
Now we are in the present and in the middle of a virus shutdown, a slowdown in the world economy and dropping oil prices that actually began before the virus started. The over priced stock market's DJIA closed Wednesday at 19,898. It closed at 19,827 the day President Obama left office. It reached a high of 29,000 just last month in February. The Trump-GOP $1.5 trillion tax cut was financed by deficit spending and was no real stimulus or economic plan to create more jobs and put more money in the economy. (Note: In Trumps 36 months in office the economy created an average monthly job number of 183,333 per month. While the average monthly job creation number during the Obama's last 36 months in office was 225,000 average jobs a month created) The tax cuts were pay back by Trump and the republican party for their relationship with special interest. Then the usual cure follows. The federal government bail out of the business community and financial help for their employees who have been harmed because tax breaks were used to feed the greed of corporate America instead of taking care of their employees.
So what does Louisiana's two do nothing U.S. Senators say about the present situation? According to a New Orleans Advocate article John Kennedy said he'd support spending what ever it takes for the federal government to prop up the economy. Bill Cassidy said the federal government should consider a massive infrastructure package. (It was Hillary Clinton's plan remember?) Democratic speaker of the House Nancy Pelosi set up a meeting with Trump to talk about infrastructure after the democratic party took control of the House in 2019. That meeting was set but before it even started Trump threw a little boy fit and walked out the meeting before it ever began.
The Reagan and Bush 43 administrations suffered an economic recession and now Trump says a recession is on the horizon on his watch. And what all three have in common is a tax cut virus for those that need lower taxes the least. The people should also remember that the highest level of sustained unemployment in the last 60 years took place on the watch of Ronald Reagan despite his tax cuts. It stood at over 10% for 10 straight months from September 1982 thru June 1983.
The last 40 years of history tells us the democratic administrations of Bill Clinton and Barrack Obama had the better economy, more job creation, balanced more budgets, cut deficit spending, lower decrease in unemployment, a smaller percentage increase in the national debt, larger increase in middle class income, smaller percentage increase in total federal spending, zero economic recession that began on their watch, no bank failures, better economic policy and plans, the ACA and etc., etc. And the one thing both Clinton and Obama had in common was the WISDOM to understand a tax cut that favors the wealthy and corporate America is the greatest VIRUS threat to the economy and economic conditions.
And the readers of PolitiDose discovered that long ago here in commentary.
The 14% tax reduction turned out to be a stimulus for the stock market as corporate America used those savings to buy back and enhance their own stock which ran up the price per share and over priced the market They also increased the salaries and bonus of their CEO's and executives at the expense of their average worker. Those savings could have been used to provide family and sick leave for their employees and for a rainy day that would support employees laid off because of work stoppages caused by nature such as the coronavirus. But now, corporate America is again asking the federal government to bail them out and pay sick leave and other expenses of those laid off workers because of the virus.
What is taking place today, took place in the past with the Bush 43 tax cuts and the following deep recession. The U.S. economy received more benefits from President Obama's stimulus than it did from both the Bush and Trump tax cuts because the stimulus was targeted and over a period of years. It also cost the federal government, therefore the people much less than the Bush and Trump tax cuts. The Obama stimulus cost $787 billion while the Bush and Trump tax cuts cost $3.6 Trillion and $1,5 trillion respectfully. The federal deficit decreased on President Obama's watch from what it was at the end of George W. Bush's last fiscal year. The federal deficit increased on George W. Bush's watch and so far it has increased on Trump's watch. And more jobs were created on Obama's watch in 8 years than were created on Bush's (8) and Trump's (3) watch in the 11 years they have served.
And needless to say, we know Bill Clinton's administration created more jobs in 8 years than were created during the Reagan, Bush 41 and Bush 43 administration in the 20 years they served. Clinton's performance on the economy and job creation shamed those three President even though Reagan and Bush 43 gave corporate America and the wealthy huge decreases in taxes to accomplish what Clinton did without cutting taxes. Plus Clinton reduced deficit spending every year in his first 4 years in office and then balanced the budget all 4 years of his second term with record surpluses. But Reagan, Bush 41 and Bush 43 never balanced one federal budget in the 20 years they ran the country. And Trump is following in their footsteps.
Now we are in the present and in the middle of a virus shutdown, a slowdown in the world economy and dropping oil prices that actually began before the virus started. The over priced stock market's DJIA closed Wednesday at 19,898. It closed at 19,827 the day President Obama left office. It reached a high of 29,000 just last month in February. The Trump-GOP $1.5 trillion tax cut was financed by deficit spending and was no real stimulus or economic plan to create more jobs and put more money in the economy. (Note: In Trumps 36 months in office the economy created an average monthly job number of 183,333 per month. While the average monthly job creation number during the Obama's last 36 months in office was 225,000 average jobs a month created) The tax cuts were pay back by Trump and the republican party for their relationship with special interest. Then the usual cure follows. The federal government bail out of the business community and financial help for their employees who have been harmed because tax breaks were used to feed the greed of corporate America instead of taking care of their employees.
So what does Louisiana's two do nothing U.S. Senators say about the present situation? According to a New Orleans Advocate article John Kennedy said he'd support spending what ever it takes for the federal government to prop up the economy. Bill Cassidy said the federal government should consider a massive infrastructure package. (It was Hillary Clinton's plan remember?) Democratic speaker of the House Nancy Pelosi set up a meeting with Trump to talk about infrastructure after the democratic party took control of the House in 2019. That meeting was set but before it even started Trump threw a little boy fit and walked out the meeting before it ever began.
The Reagan and Bush 43 administrations suffered an economic recession and now Trump says a recession is on the horizon on his watch. And what all three have in common is a tax cut virus for those that need lower taxes the least. The people should also remember that the highest level of sustained unemployment in the last 60 years took place on the watch of Ronald Reagan despite his tax cuts. It stood at over 10% for 10 straight months from September 1982 thru June 1983.
The last 40 years of history tells us the democratic administrations of Bill Clinton and Barrack Obama had the better economy, more job creation, balanced more budgets, cut deficit spending, lower decrease in unemployment, a smaller percentage increase in the national debt, larger increase in middle class income, smaller percentage increase in total federal spending, zero economic recession that began on their watch, no bank failures, better economic policy and plans, the ACA and etc., etc. And the one thing both Clinton and Obama had in common was the WISDOM to understand a tax cut that favors the wealthy and corporate America is the greatest VIRUS threat to the economy and economic conditions.
And the readers of PolitiDose discovered that long ago here in commentary.
Thursday, March 19, 2020
Joe Biden Wins Florida, Illinois and Arizona's Democratic Primaries
Tuesday's continue to be presidential candidate Joe Biden's day of celebration as he swept the three primaries and defeated U.S. Senator Bernie Sanders. His margin of victory in Florida was 61-22%, in Illinois 59-36% and in Arizona 43-31% with most of the vote counted. And Biden's support continues to be broad based and overwhelming in favor of his candidacy.
This writer believes it is time for Sanders to withdraw and allow Joe Biden the opportunity to prepare for the general election in November. The coronavirus is a hard ship on the campaign and the chance that several future primaries maybe cancelled changes the dynamics and is not the normal presidential campaign environment.
The American people have already spoken as to who they would like to see oppose Trump in the general election in this writers opinion and a continuation of the primaries would not favor Sanders chances. Stepping aside now would allow Biden more time to devote to the general election, putting his team together and develop the message of what he plans to do if elected President.
This commentary written by Joe Lorio
This writer believes it is time for Sanders to withdraw and allow Joe Biden the opportunity to prepare for the general election in November. The coronavirus is a hard ship on the campaign and the chance that several future primaries maybe cancelled changes the dynamics and is not the normal presidential campaign environment.
The American people have already spoken as to who they would like to see oppose Trump in the general election in this writers opinion and a continuation of the primaries would not favor Sanders chances. Stepping aside now would allow Biden more time to devote to the general election, putting his team together and develop the message of what he plans to do if elected President.
This commentary written by Joe Lorio
Monday, March 16, 2020
Part II: Comprehensive Immigration Reform: Election 2020: What You Will Not Hear From The News Media, PolitiDose Will Articulate In It Commentary
The impeached President Trump will try and make immigration reform an issue this year and his theme will be democrats want open borders, the usual fake news that lacks factual support It will be the same Trump and GOP who made immigration reform priority during the 2016 campaign and then did nothing once in office and power. To understand the republican and democratic position on immigration reform we have to examine the past record of both parties.
Trump took office and had the good fortune of the GOP controlling both houses of congress the first two years. That bonus gave Trump and the GOP control of what legislation would be introduced, debated and voted on. Yet Trump nor his GOP ditto heads in congress introduced one piece of immigration reform legislation to debate or vote on. In fact all they had was their rhetoric and Trump's executive orders (many of which were overturned by the courts) one that divided children from their parents is still being enforced. And now after 36 months in office, Trump and his party still have no immigration reform legislation before congress to consider. President George W. Bush wanted immigration reform legislation but the GOP refused to consider such legislation even though they controlled both houses of congress for 4 years during Bush's term in office.
President Obama wanted immigration reform legislation and actually proposed his plan to congress. The republican party rejected his proposals and that is one reason DACA was created to address one of the problems. Then in 2013 the democratic controlled U.S. Senate passed comprehensive immigration reform by a vote of 68-32. Fourteen republicans voted with the democratic majority to pass the bill. It was a good bill that provided funding to beef up border security, advanced surveillance, 700 miles of wall and doubled the border patrol agents. The CBO said the legislation would increase the GDP and the George W. Bush institute said the legislation is bullish on the U.S. economy.
However, the republican controlled U.S. House failed to take up the bill even for debate and let the legislation die in the House. That prompted President Obama to try to deal with the immigration issue by executive order. The House's excuse for not taking up the bill was they wanted a piece meal immigration reform legislation and not comprehensive. That excuse has proven to be false many times over because they had the opportunity to introduce piece meal immigration reform during the George W. Bush administration and the Trump administration and failed to do so.
The immigration issues facing the country are so broad comprehensive reform is the only answer and every one knows it. Comprehensive means every one knows the over all game plan that covers the many issues of immigration because they are all interlocked. The past tells us the democratic party does have policy and plans for immigration reform legislation and that all the republican party has is their rhetoric.
NOTE: Trump will brag this election year of keeping his promise to build the WALL. However, it is a campaign promise he will never keep because he said Mexico would pay for his WALL. America is paying for his WALL and Trump is taking needed revenue out of the Pentagon's budget to do so. And his campaign promise of 2016 to pass immigration reform legislation has yet to take place.
This commentary written by Joe Lorio
Trump took office and had the good fortune of the GOP controlling both houses of congress the first two years. That bonus gave Trump and the GOP control of what legislation would be introduced, debated and voted on. Yet Trump nor his GOP ditto heads in congress introduced one piece of immigration reform legislation to debate or vote on. In fact all they had was their rhetoric and Trump's executive orders (many of which were overturned by the courts) one that divided children from their parents is still being enforced. And now after 36 months in office, Trump and his party still have no immigration reform legislation before congress to consider. President George W. Bush wanted immigration reform legislation but the GOP refused to consider such legislation even though they controlled both houses of congress for 4 years during Bush's term in office.
President Obama wanted immigration reform legislation and actually proposed his plan to congress. The republican party rejected his proposals and that is one reason DACA was created to address one of the problems. Then in 2013 the democratic controlled U.S. Senate passed comprehensive immigration reform by a vote of 68-32. Fourteen republicans voted with the democratic majority to pass the bill. It was a good bill that provided funding to beef up border security, advanced surveillance, 700 miles of wall and doubled the border patrol agents. The CBO said the legislation would increase the GDP and the George W. Bush institute said the legislation is bullish on the U.S. economy.
However, the republican controlled U.S. House failed to take up the bill even for debate and let the legislation die in the House. That prompted President Obama to try to deal with the immigration issue by executive order. The House's excuse for not taking up the bill was they wanted a piece meal immigration reform legislation and not comprehensive. That excuse has proven to be false many times over because they had the opportunity to introduce piece meal immigration reform during the George W. Bush administration and the Trump administration and failed to do so.
The immigration issues facing the country are so broad comprehensive reform is the only answer and every one knows it. Comprehensive means every one knows the over all game plan that covers the many issues of immigration because they are all interlocked. The past tells us the democratic party does have policy and plans for immigration reform legislation and that all the republican party has is their rhetoric.
NOTE: Trump will brag this election year of keeping his promise to build the WALL. However, it is a campaign promise he will never keep because he said Mexico would pay for his WALL. America is paying for his WALL and Trump is taking needed revenue out of the Pentagon's budget to do so. And his campaign promise of 2016 to pass immigration reform legislation has yet to take place.
This commentary written by Joe Lorio
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