The Bush administration urged Congress in 2008 to bail out the Wall Street Financial Industry to the tune of $700 billion. Congress did so with legislation. The Financial Industry was the major cause of the economic collapse which has been described as the worst since the great depression. Subprime mortgage loans has been described as the main reason and cause. Many Wall Street Financial giants participated in the subprime mortgage market.
The words, "Too Big To Fail" were used to justify the bail outs but little attention has been paid to accurately indentify what those words truly indicate and how they relate to what took place and why. If indeed a business is "Too Big To Fail" it indicates that business is a monopoly and a threat to the free market system, to competition, to the economic well being of the country and a threat to other business establishments. The U.S. has anti trust laws to prevent business monopolies and are supposed to prevent and break up such threats to America's well being.
Now after the fact and the damage has already been done some Democrats are calling for the break up of those large Financial Institutions. That action should be expedited by Congress, monopolies should be broken up and from this day forward the regulatory authorities should scrutinize all future company mergers and take overs to make sure another monopoly is not created.
Monopolies are anti American and anti business in nature because they represent power and wealth. Those two combinations in the hands of ruthless people are deadly for the people and country. Power and wealth gives monopolies the feeling of being invincible and above the law and thereby do as they please. All the while their CEO's continue to acquire more power and wealth and are continuing to do so as of this writing, while the people and the country are still paying the price for their monopolistic failures.
Just yesterday the Security and Exchange Commission accused Goldman Sachs and Co., of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was collapsing. This concerns subprime mortgage securities sold to other investors. (Taken from report in Times Picayune of 4/17/10) Power and wealth was at the center of what Goldman Sachs were involved in. Don't any one be surprised if the SEC implicates other Wall Street financial firms.
Corporate America has proven over and over, again and again they can not and will not regulate themselves or their behavior. It really falls to the federal regulators to do the job and be vigilant. The same Corporate America rails against regulation and big government but they are the reason why we have both. For over two years, politidose has been commenting how power and wealth in the wrong hands has been a deadly combination for the country and its people. It has now come full circle.
Monopoly is the correct word to describe, "Too Big To Fail" and the Obama administration and Congress should pass legislation to not only break them up but also make sure there are regulations in place where it will prevent monopolies to take hold again.
Saturday, April 17, 2010
Wednesday, April 14, 2010
Offshore Oil and Gas Drilling
By now the American people know President Obama recently opened up and expanded offshore area's for drilling along the southern Atlantic Coastline, the Eastern Gulf of Mexico and part of Alaska. The news had a more positive response than negative, especially among state's that have had offshore drilling and share in that federal revenue. The news prompted the usual false information from those who are always saying "drill baby drill" and those who want to see wide open drilling with no regulations.
Those pro drilling anywhere people said the action would help America achieve energy independence and not have to rely on foreign oil. That is a blatant untruth and they know it. The oil and gas industry has had over 50 years to make the U.S. less dependent on foreign oil and they have failed despite the billions of dollars of government incentives during those years. The most recent by the Bush administration only a few years ago to the tune of billions of dollars.
The price of oil hit $150/barrel and gasoline $3.50/gallon during the Bush term in office. That was incentive enough to drill baby drill, however Gulf of Mexico drilling activity decreased 76% between 2000 and 2009. See note l. Eight of those years were under Bush and the activity decreased every year on his watch with the exception of 2008 where 3 more rigs were active than the previous year.
During the above period the oil and gas companies had much gulf acreage that was idle. For the U.S. to become independent from foreign oil the industry would have to start drilling and producing from all their lease acreage that has been idle and stockpile the oil and gas. They are not about to do that because large inventories reduces the price and they like to manipulate their inventory and reduce production for their own self interest. The oil and gas industry is also in bed with foreign producers and they are not going to change that no matter what.
The only way for the U.S. to become independent of foreign oil is alternate energy and fuel with a drastic decrease of oil and gas usage. Is it any real wonder why at the end of 2008 the U.S. was importing 70% of its oil needs. Oil billionaire T. Boone Pickens cried about that in his T.V. ads every day back then when he was pushing the use of natural gas for automobiles. He has since abandoned those ads when the price of natural gas started to fall in line with demand.
I wrote a post titled, "Innovation: Lost in America dated July 23, 2008 and published in politidose. The oil companies like to talk about their technology gains of drilling deeper, finding more oil and gas and etc. But they have lost the hunger to innovate any plan to really make the U.S. self reliant when it comes to oil and gas. Creating power and wealth uses up all their energy. That says it all.
Note 1: Source: Baker Hughes report as published in Times Picayune of 1/17/10.
Those pro drilling anywhere people said the action would help America achieve energy independence and not have to rely on foreign oil. That is a blatant untruth and they know it. The oil and gas industry has had over 50 years to make the U.S. less dependent on foreign oil and they have failed despite the billions of dollars of government incentives during those years. The most recent by the Bush administration only a few years ago to the tune of billions of dollars.
The price of oil hit $150/barrel and gasoline $3.50/gallon during the Bush term in office. That was incentive enough to drill baby drill, however Gulf of Mexico drilling activity decreased 76% between 2000 and 2009. See note l. Eight of those years were under Bush and the activity decreased every year on his watch with the exception of 2008 where 3 more rigs were active than the previous year.
During the above period the oil and gas companies had much gulf acreage that was idle. For the U.S. to become independent from foreign oil the industry would have to start drilling and producing from all their lease acreage that has been idle and stockpile the oil and gas. They are not about to do that because large inventories reduces the price and they like to manipulate their inventory and reduce production for their own self interest. The oil and gas industry is also in bed with foreign producers and they are not going to change that no matter what.
The only way for the U.S. to become independent of foreign oil is alternate energy and fuel with a drastic decrease of oil and gas usage. Is it any real wonder why at the end of 2008 the U.S. was importing 70% of its oil needs. Oil billionaire T. Boone Pickens cried about that in his T.V. ads every day back then when he was pushing the use of natural gas for automobiles. He has since abandoned those ads when the price of natural gas started to fall in line with demand.
I wrote a post titled, "Innovation: Lost in America dated July 23, 2008 and published in politidose. The oil companies like to talk about their technology gains of drilling deeper, finding more oil and gas and etc. But they have lost the hunger to innovate any plan to really make the U.S. self reliant when it comes to oil and gas. Creating power and wealth uses up all their energy. That says it all.
Note 1: Source: Baker Hughes report as published in Times Picayune of 1/17/10.
Monday, April 12, 2010
Cal Thomas: Another Confused Conservative Journalist
In an editorial that appeared in the Times Picayune of April 7, Thomas once again proved conservative ditto head ideology and the fact that they stand for nothing. His editorial about having the new health care legislation overturned on constitutional grounds and then asked, what then? He then answers his own question by saying opponents have to have a plan ready to take its place. The last paragraph of his editorial end in these words.
This is the republican challenge. If Obamacare is struck down, republicans should have a substitute proposal ready that embodies their principles, gets passed by a republican congress and signed by a republican President in 2013. In other words after a year of debate on health care, its passage and signed into law the republicans still don't have a plan they can present to the people. What Thomas last paragraph also says is he thinks a republican health care plan should be republican all the way. Thomas still thinks conservatives are the elite, above anyone else.
The sour grapes by conservative journalists and those inside and outside of congress who oppose health care see a President who delivered on a campaign promise, see a President whose economic policy is taking hold and sees an economy that is starting to create jobs, they are scared as hell. They dare not talk about the Bush administration because they have nothing positive to say about that administration. They will continue to oppose everything coming out of the Obama administration because they have no record of accomplishment themselves so its personal attacks against democrats.
The problem with the conservatives who lead the republican party today and those journalists like Cal Thomas, Bill O'Rielly, Sean Hannity, Glenn Beck and Rush Limbaugh is that they preach a conservative ideology that is unAmerican and out side the norm of civility. They prefer the method of personal attacks because they can not compete on the issues. They are a pathetic lot and what really bothers them is that most of the democrats they always attack wore the uniform of their country while they themselves stayed home.
The democrats is congress don't always think alike but they are not the phony party who sits across the aisle. Cal Thomas should have told his party to have a health care plan available when the debate started over a year ago instead of putting a plan together now. Its safe to say, once a phony, always a phony.
This is the republican challenge. If Obamacare is struck down, republicans should have a substitute proposal ready that embodies their principles, gets passed by a republican congress and signed by a republican President in 2013. In other words after a year of debate on health care, its passage and signed into law the republicans still don't have a plan they can present to the people. What Thomas last paragraph also says is he thinks a republican health care plan should be republican all the way. Thomas still thinks conservatives are the elite, above anyone else.
The sour grapes by conservative journalists and those inside and outside of congress who oppose health care see a President who delivered on a campaign promise, see a President whose economic policy is taking hold and sees an economy that is starting to create jobs, they are scared as hell. They dare not talk about the Bush administration because they have nothing positive to say about that administration. They will continue to oppose everything coming out of the Obama administration because they have no record of accomplishment themselves so its personal attacks against democrats.
The problem with the conservatives who lead the republican party today and those journalists like Cal Thomas, Bill O'Rielly, Sean Hannity, Glenn Beck and Rush Limbaugh is that they preach a conservative ideology that is unAmerican and out side the norm of civility. They prefer the method of personal attacks because they can not compete on the issues. They are a pathetic lot and what really bothers them is that most of the democrats they always attack wore the uniform of their country while they themselves stayed home.
The democrats is congress don't always think alike but they are not the phony party who sits across the aisle. Cal Thomas should have told his party to have a health care plan available when the debate started over a year ago instead of putting a plan together now. Its safe to say, once a phony, always a phony.
Wednesday, April 7, 2010
A Good Jobs Report For March
The latest numbers from the U.S. Labor Department for March showed the business community added 162,000 jobs to payroll. That included approximately 40,000 part time workers hired for the ongoing census that is taking place. Both are positive numbers for the country and its people. Unemployment remained at 9.7%. The massive job losses under the previous administration has been reversed on a steady basis during Obama's administration and now the job picture is in positive territory. The 162,000 added jobs is only a bump in the jobless picture but will get better.
The people are spending money again and manufacturing has been up and steady, a great improvement from the past. Average workers salary is still stagnant and the better the economic picture becomes the sooner average workers take home pay will increase. Another positive sign is that job openings rose in several sectors of the economy in February, including retail, manufacturing, transportation, restaurants and hotels the Labor Department reported also. The Obama's economic policies are starting to produce a turnaround and a demanding economy is on the horizon.
The 9.7% unemployment rate is unacceptable to the President and also by the people. Most economist are predicting high unemployment thru 2011 but I do not buy into that. The kicker will be state governors who's states are running in red ink also and who are laying off workers in an effort to cut the budget. So far governors have shown they have little smarts when it comes to innovation.
The NYSE has gained almost 5000 points since Obama took office. That is mainly because 1% of the people own 50% of stocks. Those are the ones who had the money to buy stocks when they were beaten down the last two years and then ran up the prices. Lets look at the latest report from Absolute Return + Alpha magazine as reported by AP Business writer Daniel Wagner on April 4. The 25 highest paid hedge fund managers earned a total of more than
$25 billion in 2009. That is over $1 billion each. They earned $22.3 billion in 2007 before the economy went south and $11.6 billion in 2008. It is obvious those billions of dollars did not trickle down and create jobs or boost the economy. It was part of the problem of transferring wealth from the average American to the wealthy.
President Obama's policies are on the right course for America, the people and the economy. There will be better days ahead and also some set backs but the positives will prevail for America and its people. The President will be engaged and active in the pursuit of economic prosperity for America.
The people are spending money again and manufacturing has been up and steady, a great improvement from the past. Average workers salary is still stagnant and the better the economic picture becomes the sooner average workers take home pay will increase. Another positive sign is that job openings rose in several sectors of the economy in February, including retail, manufacturing, transportation, restaurants and hotels the Labor Department reported also. The Obama's economic policies are starting to produce a turnaround and a demanding economy is on the horizon.
The 9.7% unemployment rate is unacceptable to the President and also by the people. Most economist are predicting high unemployment thru 2011 but I do not buy into that. The kicker will be state governors who's states are running in red ink also and who are laying off workers in an effort to cut the budget. So far governors have shown they have little smarts when it comes to innovation.
The NYSE has gained almost 5000 points since Obama took office. That is mainly because 1% of the people own 50% of stocks. Those are the ones who had the money to buy stocks when they were beaten down the last two years and then ran up the prices. Lets look at the latest report from Absolute Return + Alpha magazine as reported by AP Business writer Daniel Wagner on April 4. The 25 highest paid hedge fund managers earned a total of more than
$25 billion in 2009. That is over $1 billion each. They earned $22.3 billion in 2007 before the economy went south and $11.6 billion in 2008. It is obvious those billions of dollars did not trickle down and create jobs or boost the economy. It was part of the problem of transferring wealth from the average American to the wealthy.
President Obama's policies are on the right course for America, the people and the economy. There will be better days ahead and also some set backs but the positives will prevail for America and its people. The President will be engaged and active in the pursuit of economic prosperity for America.
Wednesday, March 31, 2010
Cities That Lose Their Natural Competitive Advantage
The City of New Orleans and its business partners sit on one of the leading Ports in the United States for import and export traffic that moves through the Port of New Orleans. Because of this location, manufacturing companies enjoy a lower transportation cost to move their raw and finished products due to water, rail and truck transportation available at their fingertips. That is a huge advantage over inland manufacturing plants that have no access to cheap water transportation and must pay higher rates for rail and truck service.
Yet, some companies that are here and want to expand and other who might express interest in locating here look for handouts from the government in the form of tax rebates, financing and other incentives. The latest is Folger's Coffee Company who announced they will expand production and capacity at its New Orleans manufacturing plants and distribution located on old Gentilly road and Chef Menteur highway. In an article by Jaquetta White, business writer in the Times Picayune of March 25 reported as follows.
The company will receive almost $6 million in incentives from the state as part of its plan, that includes a $2.1 million refundable state tax credit for capital investment. The performance based incentives would require that the company retain both its 450 current jobs and the 120 additional jobs it is projecting and increase its payroll from $26.1 million in 2011 to $31.2 million in 2020. Folgers must also make its capital improvements by December 31, 2012.
The parent company of Folgers, the J.M. Smuker Company said the move to expand in New Orleans was part of a plan to cut cost and improve long term efficiency nationwide. Plant closures would take place in Sherman, Texas and Kansas City, Mo. Maribeth Badertscher, Smucker spokeswoman said, the Missouri plant is located in multistoried downtown Kansas City, a landlocked area, while the Texas location just does not have the desired supply chain benefits.
Badertscher also said, because New Orleans is where the coffee beans come in there's significant supply chain savings in having our manufacturing factory there instead of transporting beans for manufacturing. New Orleans also has our largest facilities that can accommodate future growth. There are expansion opportunities.
So here we have a spokeswoman for the parent company of Folgers talking about the natural advantage their plant at New Orleans has over their other facilities and that New Orleans is the place to be. Expansion is no problem at the facility here and there is significant supply chain savings in having their plant here. Yet, they will receive from the state $6 million in incentives. All at a time when the governor is cutting health care, higher education and other area's because of a short fall in state revenues. Another give away to business at a time of state budget deficits, loss revenue, increases in college tuition and other fees. And $6 million of tax payers money for a company who is logistically and economically situated in an area where they should be.
The give away makes no sense concerning this particular expansion. Our political leaders and Folgers leaders should be ashamed of themselves. Is there any wonder why the $1 billion surplus left by the previous administration has vanished.
Yet, some companies that are here and want to expand and other who might express interest in locating here look for handouts from the government in the form of tax rebates, financing and other incentives. The latest is Folger's Coffee Company who announced they will expand production and capacity at its New Orleans manufacturing plants and distribution located on old Gentilly road and Chef Menteur highway. In an article by Jaquetta White, business writer in the Times Picayune of March 25 reported as follows.
The company will receive almost $6 million in incentives from the state as part of its plan, that includes a $2.1 million refundable state tax credit for capital investment. The performance based incentives would require that the company retain both its 450 current jobs and the 120 additional jobs it is projecting and increase its payroll from $26.1 million in 2011 to $31.2 million in 2020. Folgers must also make its capital improvements by December 31, 2012.
The parent company of Folgers, the J.M. Smuker Company said the move to expand in New Orleans was part of a plan to cut cost and improve long term efficiency nationwide. Plant closures would take place in Sherman, Texas and Kansas City, Mo. Maribeth Badertscher, Smucker spokeswoman said, the Missouri plant is located in multistoried downtown Kansas City, a landlocked area, while the Texas location just does not have the desired supply chain benefits.
Badertscher also said, because New Orleans is where the coffee beans come in there's significant supply chain savings in having our manufacturing factory there instead of transporting beans for manufacturing. New Orleans also has our largest facilities that can accommodate future growth. There are expansion opportunities.
So here we have a spokeswoman for the parent company of Folgers talking about the natural advantage their plant at New Orleans has over their other facilities and that New Orleans is the place to be. Expansion is no problem at the facility here and there is significant supply chain savings in having their plant here. Yet, they will receive from the state $6 million in incentives. All at a time when the governor is cutting health care, higher education and other area's because of a short fall in state revenues. Another give away to business at a time of state budget deficits, loss revenue, increases in college tuition and other fees. And $6 million of tax payers money for a company who is logistically and economically situated in an area where they should be.
The give away makes no sense concerning this particular expansion. Our political leaders and Folgers leaders should be ashamed of themselves. Is there any wonder why the $1 billion surplus left by the previous administration has vanished.
Sunday, March 28, 2010
The Health Care Conversation The News Media Failed To Have
The democratic health care legislation that was introduced and passed by congress was debated for over a year. It was debated in congress, in town hall meetings, at tea party's, on T.V., Radio, the printed news media and every which way you can think of. The republicans said they read every page.
Yet with all the debates and questions, the news media failed to ask the most important questions to those who oppose the legislation, especially the republicans in congress and the nations governors. The governors who opposed the legislation based on states rights were never asked what they were doing to insure the uninsured in their state. For instance, Louisiana Governor Jindal who opposed the plan was never asked what he was doing for his state to insure those uninsured. Per Families U.S.A. Louisiana had 823,000 uninsured in the 2007-2008 year and it was estimated at the time, the U.S. Senate passed bill would insure 554,000 of the uninsured in Louisiana. As a native of Louisiana I know of no Jindal plan to insure those uninsured but those questions were never asked.
Those republicans in congress who opposed were also not asked the question when they invoked states rights. The truth of the matter is if the governors themselves would take care of the problem of their own states uninsured they would have to raise taxes and or fees to do so but do not have the character or courage to bite the bullet. They want some one else to do that and then they are in opposition. There is good reason why the federal government is so large, state governors have failed to take care of their own states problems.
Now after health care has passed congress the republicans are urging state governors to go to court to oppose health care and repeal same. So far 13 governors said they would do so because states rights are involved. It is ironic that it is republicans who always want to curtail lawsuits but are the first ones to go that route. When you are a hypocrite, you are a hypocrite through and through.
Perhaps we are at a time in history when a President needs to tell governors to put up or shut up. Let the governors lead their state and introduce and pass legislation that the states should be involved with. I don't look for any governors to volunteer any time soon.
Yet with all the debates and questions, the news media failed to ask the most important questions to those who oppose the legislation, especially the republicans in congress and the nations governors. The governors who opposed the legislation based on states rights were never asked what they were doing to insure the uninsured in their state. For instance, Louisiana Governor Jindal who opposed the plan was never asked what he was doing for his state to insure those uninsured. Per Families U.S.A. Louisiana had 823,000 uninsured in the 2007-2008 year and it was estimated at the time, the U.S. Senate passed bill would insure 554,000 of the uninsured in Louisiana. As a native of Louisiana I know of no Jindal plan to insure those uninsured but those questions were never asked.
Those republicans in congress who opposed were also not asked the question when they invoked states rights. The truth of the matter is if the governors themselves would take care of the problem of their own states uninsured they would have to raise taxes and or fees to do so but do not have the character or courage to bite the bullet. They want some one else to do that and then they are in opposition. There is good reason why the federal government is so large, state governors have failed to take care of their own states problems.
Now after health care has passed congress the republicans are urging state governors to go to court to oppose health care and repeal same. So far 13 governors said they would do so because states rights are involved. It is ironic that it is republicans who always want to curtail lawsuits but are the first ones to go that route. When you are a hypocrite, you are a hypocrite through and through.
Perhaps we are at a time in history when a President needs to tell governors to put up or shut up. Let the governors lead their state and introduce and pass legislation that the states should be involved with. I don't look for any governors to volunteer any time soon.
Saturday, March 27, 2010
Conservatism: The UnAmerican Ideology Continues
The leaders of the republican party in the U.S. Senate and U.S. House have once again showed the conservatism UnAmerican ideology they preach and it has vibrated through their ranks. This time over health care legislation and their rhetoric has been vile, threatening and incendiary. That was all those who fit the description of cowards in the "tea party" needed to hurl insults and other vile language at democrats while they were on their way to the Capitol to vote. Some even were exposed to property damage.
History is repeating the conservative mindset of being elite and their attitude that they can do what they please to interrupt the civility that is so important to democracy and a debate of the issues. It is a result of their phony ideology that has crippled their ability to accomplish any thing meaningful for the country and its people. They have no record of accomplishment to run on so they want to destroy any chance of democratic success, even though it is the people who pay the price for their phony ideology and action.
To make things worse for the country and its people, the same conservative UnAmerican ideology is being preached by some cable outlets like Fox News and other journalists who have no problem of wanting to see America fail. Lies become their method of operation and the great majority of their guests are conservatives who have failed their country long ago.
Presidents Eisenhower, Nixon and Ford, all conservatives but they did not govern by ideology. They were able to move the country forward and the republicans in congress during those administrations were not ditto heads. In fact they stood tall when Nixon got in trouble and came down on the side of what was right during a painful time in our history.
Senator John McCain stood on the U.S. Senate floor this week and said he would not work with the Obama administration the rest of the year. (Like what's new?) In other words he would pick up his marbles like a little kid and fail to do the job he was elected to do. This was another example how conservatives can not compete and debate in an open society in a civil way. The health care issue has really defined how conservatism that is preached today by the republican party is truly UnAmerican.
President Obama and the democratic party should continue to lead the way since that is the hand they have been dealt and continue to do those things that really matter and make a difference for the American people and the country. If every piece of legislation has to be passed by reconciliation because of the ditto head republicans, so be it. The President needs to continue to frame the debate.
History is repeating the conservative mindset of being elite and their attitude that they can do what they please to interrupt the civility that is so important to democracy and a debate of the issues. It is a result of their phony ideology that has crippled their ability to accomplish any thing meaningful for the country and its people. They have no record of accomplishment to run on so they want to destroy any chance of democratic success, even though it is the people who pay the price for their phony ideology and action.
To make things worse for the country and its people, the same conservative UnAmerican ideology is being preached by some cable outlets like Fox News and other journalists who have no problem of wanting to see America fail. Lies become their method of operation and the great majority of their guests are conservatives who have failed their country long ago.
Presidents Eisenhower, Nixon and Ford, all conservatives but they did not govern by ideology. They were able to move the country forward and the republicans in congress during those administrations were not ditto heads. In fact they stood tall when Nixon got in trouble and came down on the side of what was right during a painful time in our history.
Senator John McCain stood on the U.S. Senate floor this week and said he would not work with the Obama administration the rest of the year. (Like what's new?) In other words he would pick up his marbles like a little kid and fail to do the job he was elected to do. This was another example how conservatives can not compete and debate in an open society in a civil way. The health care issue has really defined how conservatism that is preached today by the republican party is truly UnAmerican.
President Obama and the democratic party should continue to lead the way since that is the hand they have been dealt and continue to do those things that really matter and make a difference for the American people and the country. If every piece of legislation has to be passed by reconciliation because of the ditto head republicans, so be it. The President needs to continue to frame the debate.
Thursday, March 25, 2010
The Democratic Congress: A Real Voice For America
Thirty four Democracts in the U.S. House voted against their own party's health care plan Sunday night. Unlike the ditto head republicans who all opposed and voted no against the plan and used the same old sad talking points, the democratic party once again proved their members can think for themselves and do not have to toe the party line.
In the future some democratic sponsored legislation could be defeated by their own members and the news media and republicans will say the democratic party does not know how to govern. That is what politics has become, but it will not wash. I hope the democratic party continues to think for itself and that each individual democrat introduces his own ideas in debate on all the issues facing the country and its people. I would prefer to have that kind of democracy than the ditto head republican ideology of talking points for their members to act like robots and all vote the same way because of that unAmerican ideology.
President Truman, that great democrat who was noted for giving the republicans hell once said:
when you have an efficient government, you have a dictatorship. That is the type of government the republicans want and what is behind their ideology of being ditto head voters.
Our democratic system in congress is not perfect, but the democratic party represents the American people and their interest much better in debating the real issues than the republican party. The final 3 years of the Obama administration will be met with continued ditto head opposition on all fronts and their personal attacks will become even more bitter. This sad story will continue because they have no record to compete and stand on.
Hang in there Mr. President. You have the party that will do right for the people and the country. The democratic party may disagree some times but they will end up doing what is best for America.
In the future some democratic sponsored legislation could be defeated by their own members and the news media and republicans will say the democratic party does not know how to govern. That is what politics has become, but it will not wash. I hope the democratic party continues to think for itself and that each individual democrat introduces his own ideas in debate on all the issues facing the country and its people. I would prefer to have that kind of democracy than the ditto head republican ideology of talking points for their members to act like robots and all vote the same way because of that unAmerican ideology.
President Truman, that great democrat who was noted for giving the republicans hell once said:
when you have an efficient government, you have a dictatorship. That is the type of government the republicans want and what is behind their ideology of being ditto head voters.
Our democratic system in congress is not perfect, but the democratic party represents the American people and their interest much better in debating the real issues than the republican party. The final 3 years of the Obama administration will be met with continued ditto head opposition on all fronts and their personal attacks will become even more bitter. This sad story will continue because they have no record to compete and stand on.
Hang in there Mr. President. You have the party that will do right for the people and the country. The democratic party may disagree some times but they will end up doing what is best for America.
Tuesday, March 23, 2010
Health Care Legislation: Lets Do Some Comparison
The U.S. House on 3/19 passed and adopted the Senate's health care plan that chamber passed not so long ago. The vote was 219-212 in favor. All republicans voted no and 34 democrats voted no. The measure went to President Obama for his signature. The legislation is said to cover approximately 32 million Americans who are now uninsured.
The republican response was the same after passage. They intend to take it to court and try to get the state governments to do the same. They will continue to do all in their power to kill the bill. They will continue to work to defeat the democrats in the November elections and make sure the public knows how they voted. The cost is to great and will increase the federal deficit. Plus the other usual so called conservative mumbo jumbo.
Lets do some comparison: The republican controlled congress under President Bush passed a prescription drug benefit program that the Congressional Budget Office (CBO) says was financed by deficit spending by the Bush administration at a cost of $1.2 trillion over a 10 year period. That deficit spending is still being paid by the Obama administration and the American people. That benefit also gave the people the donut hole.
The Iraq war on the 7th anniversary this month cost the taxpayers $747 billion and was financed by deficit spending by the Bush administration and the Obama administration and the people are still saddled with and paying for. The cost will hit a trillion dollars if the U.S. stays till the end of 2011 as planned. That unnecessary war over WMD that did not exist took over 4400 American lives, over 30,000 wounded and no one really knows how many innocent men, women and Iraqi children have been killed who only wanted to raise a family.
The bailout of the financial industry by the Bush administration to the tune of $700 billion was financed by deficit spending and now the Obama administration and the people are paying for it until the financial industry pays it all back. When it comes to deficit spending the so called conservative republicans are the biggest hypocrites alive. They have no shame with their ditto head lies to the American people.
The health care plan that just passed the U.S. House will cost approximately $950 Billion over 10 years and reduce the federal deficit over $100 billion says the CBO. The CBO also says during the next 10 years the deficit will be reduced over $1 trillion. The plan is paid for by taxes and other means. The plan will also eliminate the donut hole in the prescription drug plan.
There is one way to measure the cost of the health care plan. That is, will the cost be reasonable compared to the status quo of increased premiums, less coverage, more uninsured, more canceled policies, more businesses going out of business and etc. If the cost is reasonable in relation to the status quo, and does accomplish what it is intended to do and does indeed reduce the federal deficit like the CBO says, then it is good legislation.
The health care issue was proper to be addressed by the Obama administration and as long as they are in power they also have the responsibility to make it come out right for the country and its people and not add to the federal deficit. Democrats should remember one of President Truman's famous statements when he said: You can always amend a big plan, but you can never expand a little one. I don't believe in little plans. I believe in plans big enough to meet a situation which we can't possible foresee now.
The democrats should act accordingly and make any adjustments necessary to insure the legislation does what it was intended to do.
The republican response was the same after passage. They intend to take it to court and try to get the state governments to do the same. They will continue to do all in their power to kill the bill. They will continue to work to defeat the democrats in the November elections and make sure the public knows how they voted. The cost is to great and will increase the federal deficit. Plus the other usual so called conservative mumbo jumbo.
Lets do some comparison: The republican controlled congress under President Bush passed a prescription drug benefit program that the Congressional Budget Office (CBO) says was financed by deficit spending by the Bush administration at a cost of $1.2 trillion over a 10 year period. That deficit spending is still being paid by the Obama administration and the American people. That benefit also gave the people the donut hole.
The Iraq war on the 7th anniversary this month cost the taxpayers $747 billion and was financed by deficit spending by the Bush administration and the Obama administration and the people are still saddled with and paying for. The cost will hit a trillion dollars if the U.S. stays till the end of 2011 as planned. That unnecessary war over WMD that did not exist took over 4400 American lives, over 30,000 wounded and no one really knows how many innocent men, women and Iraqi children have been killed who only wanted to raise a family.
The bailout of the financial industry by the Bush administration to the tune of $700 billion was financed by deficit spending and now the Obama administration and the people are paying for it until the financial industry pays it all back. When it comes to deficit spending the so called conservative republicans are the biggest hypocrites alive. They have no shame with their ditto head lies to the American people.
The health care plan that just passed the U.S. House will cost approximately $950 Billion over 10 years and reduce the federal deficit over $100 billion says the CBO. The CBO also says during the next 10 years the deficit will be reduced over $1 trillion. The plan is paid for by taxes and other means. The plan will also eliminate the donut hole in the prescription drug plan.
There is one way to measure the cost of the health care plan. That is, will the cost be reasonable compared to the status quo of increased premiums, less coverage, more uninsured, more canceled policies, more businesses going out of business and etc. If the cost is reasonable in relation to the status quo, and does accomplish what it is intended to do and does indeed reduce the federal deficit like the CBO says, then it is good legislation.
The health care issue was proper to be addressed by the Obama administration and as long as they are in power they also have the responsibility to make it come out right for the country and its people and not add to the federal deficit. Democrats should remember one of President Truman's famous statements when he said: You can always amend a big plan, but you can never expand a little one. I don't believe in little plans. I believe in plans big enough to meet a situation which we can't possible foresee now.
The democrats should act accordingly and make any adjustments necessary to insure the legislation does what it was intended to do.
Monday, March 22, 2010
Louisiana's Budget Problem Continues To Escalate
The present Louisiana budget that ends June 30 has already been cut by millions of dollars and now Commissioner of Administration Angele Davis said the budget could still be short between 250 and 400 million dollars for the current fiscal year. That would depend on a review of revenue at the end of March which is down from previous projections.
The Jindal administration inherited a billion dollar surplus from the previous administration and has quickly vanished. Jindal and his people have a conservative ideology toward the budget so they have no original thought. There mantra is cut the budget, give tax breaks and incentive's to business and reduce taxes by eliminating the Stelly plan even though they knew of the short fall in revenue. What has happened is college tuition increases with more to come that hits the middle class the hardest, a 70% increase in driving license fee and now a new announcement there will be no merit pay raise for thousand of civil service workers, the first time that has happened in 20 years.
Conservatives have mastered how to keep the business community from paying their fair share and sticking it to the average tax payers in so many different ways. Make no mistake, college tuition will continue to rise for the average citizen and more fees will increase on various services. Conservatives do not like to use the word taxes.
Jindal likes to have it both ways, he says Louisiana has done better with the economy than most states, however, unemployment is going up on Jindal's watch. January unemployment rate was 7.4% compared to 5.7% in January 2009. Greg Albrecht, an economist with the Legislative Fiscal Office said Louisiana is not hiring. Albrecht also said as of February, revenue from sales taxes and income taxes were indicating a 20% decrease for the year instead of the 15% and 13% decrease earlier forecast.
If it were not for Federal Stimulus dollars Jindal would be a basket case. The governor has proven over and over his lack of courage in leading the state to solve its own problems. He is just waiting for the national economy to revive Louisiana's economy so he can run for a higher office. The fast talker is way out in front of himself.
The Jindal administration inherited a billion dollar surplus from the previous administration and has quickly vanished. Jindal and his people have a conservative ideology toward the budget so they have no original thought. There mantra is cut the budget, give tax breaks and incentive's to business and reduce taxes by eliminating the Stelly plan even though they knew of the short fall in revenue. What has happened is college tuition increases with more to come that hits the middle class the hardest, a 70% increase in driving license fee and now a new announcement there will be no merit pay raise for thousand of civil service workers, the first time that has happened in 20 years.
Conservatives have mastered how to keep the business community from paying their fair share and sticking it to the average tax payers in so many different ways. Make no mistake, college tuition will continue to rise for the average citizen and more fees will increase on various services. Conservatives do not like to use the word taxes.
Jindal likes to have it both ways, he says Louisiana has done better with the economy than most states, however, unemployment is going up on Jindal's watch. January unemployment rate was 7.4% compared to 5.7% in January 2009. Greg Albrecht, an economist with the Legislative Fiscal Office said Louisiana is not hiring. Albrecht also said as of February, revenue from sales taxes and income taxes were indicating a 20% decrease for the year instead of the 15% and 13% decrease earlier forecast.
If it were not for Federal Stimulus dollars Jindal would be a basket case. The governor has proven over and over his lack of courage in leading the state to solve its own problems. He is just waiting for the national economy to revive Louisiana's economy so he can run for a higher office. The fast talker is way out in front of himself.
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