Presidential address…and the response?

I don’t think I know anyone who feels good about the immediate future of our country. Dire headlines about the economy appear routinely. I have pretty much stopped listening to televisions’ financial experts as I no longer believe they have a clue of what’s to come. Just remember how they sung the praises of wall street during the expansion of the housing bubble. Frighteningly, their view is as good as mine or yours.  Besides, their opinion’s don’t really matter. [Read more →]

Unemployment rates

Click on image to see a visual guide to see
“The not-so-governmental guide to the unemployment rate”:

unemploymentratemint-crop

Senate Minority Leader spins The New deal

Standing in front of the Senate this week, Senate Minority Leader Mitch McConnell, derided the recovery plan with a historical spin claiming that FDR’s New Deal failed to lift America out of the Great Depression. According to the Minority Leader:

“…one of the good things about reading history is you learn a good deal. And, we know for sure that the big spending programs of the New Deal did not work. In 1940, unemployment was still 15%. And, it’s widely agreed among economists, that what got us out of the doldrums that we were in during the Depression was the beginning of World War II.”

Clearly Senate Minority Leader McConnell is spinning history to support his “tax-cut only” philosophy and that government spending will not work in the recovery plan.  So let’s take a look at historical data: [Read more →]

What is Wasteful Spending?

From the IReport:

97.5% of recovery plan spending deemed effective by GOP

The GOP are going around stamping their feet, refusing to sign onto a desperately needed economic recovery plan. They claim it’s not stimulus  just a spending package. They even issued a list of “wasteful” stimulus spending from the bill. But take a closer look at the list, add up the  spending they cite is wasteful and you’ll find it amounts to approximately 2.5% of the total economy recovery plan. That’s right, according to the GOP, 97.5% of the plan is not wasteful. But true to form, taking the lessons of spin and misinformation they learned from the Bush administration, they go on the news and only focus on 2.5% of the plan.

Now to avoid seeming like obstructionists, the GOP has offered an alternative plan of about $500 billion, two-thirds of which are tax-cuts. Economists agree this falls far short of what’s needed to save the economy and won’t provide any help at all. Also remember, both tax cuts and spending will lead to a deficit (see Stimulus 101: Tax Cuts vs Government Spending). So the GOP offer no new ideas other than to continue the debt-exploding tax cuts from the Bush administration.

Another perspective on the stimulus debate

Excerpt from Time Magazine

“It’s hard to take Republican leaders too seriously when they criticize recovery plans for the economy; it’s sort of like those geese criticizing evacuation plans for US Airways Flight 1549. Their critiques look even goofier when you see their alternatives. They warn that President Barack Obama’s stimulus package will explode the debt — and so they want to make President Bush’s debt-exploding tax cuts permanent. They say Democratic spending plans are full of pork — then they propose an extra $24 billion for the Army Corps of Engineers, the federal equivalent of Oscar Meyer. Let’s just say their idea bank could use a bailout.”

Read complete article

I’m not alone

Last week I wrote that John Boehner, House Minority Leader, needs to come up with new ideas and not just offer more of the same “Tax Cuts” and “Small Government” rhetoric, especially if they are all voting “no” against the Economic Recovery Bill.

Well it seems I’m not alone! John Boehner went on “Meet the Press” and declared that he and the Republicans were going to be more than “the party of no.” He said that they were going to be “the party of better ideas, better solutions.” Naturally David Gregory asked what those ideas were. OK ready for this, John Boehner said, he’ll get back to us “over the coming months.” Get Back to us?

This seems to be the new song Republicans are singing as others such as Virginia congressman Eric Cantor echoes Boehner promising that they are not “the party of no” and someday will offer “solutions and alternatives.”

If the Republicans want a new song to sing, here are a few suggestions and lyrics.

Someday by Nickelback

How the hell did we wind up like this?
Why weren’t we able, to see the signs that we missed
And try turn the tables

I wish you’d unclench your fists, and unpack your suitcase
Lately there’s been too much of this
But don’t think it’s too late

Nothing’s wrong, just as long as
You know that someday I will

Someday, somehow
I’m gonna make it all right but not right now
I know you’re wondering when

Someday by Alan Jackson

And I said someday

I’ll get my life straight
And she said it’s too late
What’s done is done
And I told her someday
She said I can’t wait
‘Cause sometimes someday just never comes

Someday by Barbara Streisand

Someday, somewhere
We’ll find a new way of living
Will find a way of forgiving
Somewhere…
There’s a place for us
Somewhere a place for us
Peace and quiet and open air
Wait for us
Somewhere
There’s a time for us
Someday there’ll time for us
…”

The problem is America can’t afford to wait for “Someday.”

Deficit Spending

I would like to thank John Boehner, the House Republican Leader and the rest of the republicans for standing up against deficit spending. It’s an issue that adds insurmontable debt to the insurmountable debt created over the last 8 years. You remember, the debt created through deficit spending by the Bush administration and approved by the same republicans who now oppose it. Does John Boehner and the republicans think America would forget in justWhere were you over the last 8 years? And what happened to the trillion dollar surplus you inherited in 2000?