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Tag Archives: recession

Time for a Leader, Not a Politician

07 Wednesday Jul 2010

Posted by Craig in budget, Congress, economy, Obama, Politics

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1937, anti-deficit, anti-spending, clean energy jobs, David Axelrod, Debt Commission, depression, fearmongering, Gulf oil spill, long-term unemployed, mid-term elections, middle-class, President Obama, Rahm Emanuel, recession, right-wing noise machine, Ross Perot, Social Security privatizers, Tim Ryan, unemployment

“The easiest thing in the world for a politician to do is tell you exactly what you want to hear.”—Senator Barack Obama during the 2008 presidential campaign when the other candidates were calling for a gasoline tax holiday in the face of soaring oil prices.

It’s time for President Obama to take some advice from Senator Obama and not from his political advisers in the White House, like David Axelrod and Rahm Emanuel, who are telling him that the public mood is anti-spending and anti-deficit, and that it will be politically advantageous in the upcoming mid-term elections for him and the Democrats to play to the fear of a deficit boogeyman being ginned up by the right-wing noise machine and the president’s political opponents. Opponents who, let’s face it, don’t want to see unemployment go down or the economy improve between now and November. If the Republicans can get the president to focus on the deficit and cutting spending while unemployment hovers around 10%, they’ll be happy as pigs in slop, so to speak.

President Obama doesn’t help to counteract  the fearmongering when he does things like proposing spending freezes and initiating a debt commission stacked with deficit hawks and Social Security privatizers. In my opinion, this is a golden opportunity for a teaching moment.

If I were advising the president I would suggest a series of television appearances like Ross Perot did during his short-lived presidential campaign in 1992, (before he went all black helicopters, that is) complete with charts and graphs to illustrate his points. The American people, for the most part, aren’t stupid. We get a lot more than politicians and their political advisers give us credit for.

The president could start with a history lesson from 1937. About how FDR gave in to the deficit hawks of his day and started cutting spending before the country was out of the Great Depression which led to a “recession within the Depression” and delayed the recovery.

He could explain the stimulative effects of unemployment benefits. How that every dollar which goes out comes back as $1.64. How that almost half of the unemployed have been out of work for 6 months, something that hasn’t happened since the Labor Dept. started keeping that statistic in 1948. How the unemployed aren’t lazy bums looking for a handout—another popular meme of the noise machine—but that there are 6 applicants for every job opening, and that those over 50 who are disproportionately affected are Americans who have worked for the better part of their lives and have been caught up in an economic situation beyond their control. In their time of need they need our compassion, not our condemnation.

He could use the Gulf oil spill as a springboard to re-invigorate American manufacturing jobs in the field of clean energy, which leads to more people paying taxes and reduced deficits. We could be a country that makes things again, and in the process breathe new life into the rapidly disappearing American middle-class. As Rep. Tim Ryan (D-OH) said recently:

“We know what happens when the economy depends only on financial services and the creation of wealth through bookkeeping. Manufacturing jobs are good paying jobs that support families and communities, create spin-off jobs, and leads to innovation…We’ve spent the last 30 years pandering to those who have taken manufacturing off shore and in turn we lost the heart and soul of our country. We need to see ‘Made in the USA’ again.”

With signs of a slowing economy and the prospects of a double-dip recession looming, this is not the time for a politician with his finger in the wind gauging public opinion or re-acting to the misinformation and disinformation being put out by his opponents. This calls for someone to lead, educate to populace, and shape public opinion, not react to it.

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Would the GOP Deliberately Sabotage the Economy? Is There Any Doubt?

24 Thursday Jun 2010

Posted by Craig in Congress, Conservatives, economy, financial reform, financial regulation, Politics, Republicans

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Ben Nelson, depression, Dick Cheney, economy. deficit, Happy Days Are Here Again, Huffington Post, Medicare Part D, Michael Steele, power, recession, Republicans, sabotage, Senate, tax extenders, unemployment, wars. tax cuts, Washington Monthly

Commenting on a Huffington Post piece about how Republicans, and Ben Nelson (excuse my redundancy), appear poised to kill the tax-extenders bill in the Senate, Steve Benen at Washington Monthly writes:

“In the real world, this means millions of jobless Americans will lose their already-modest benefits, and hundreds of thousands of workers will be laid off over the next year, including teachers, police officers, and firefighters. All of this will happen because Republicans are more concerned about the deficit — a deficit they created under Bush/Cheney — than the economy.

It’s unpleasant to think about, and I really hope it’s not true, but it may be time for a discussion about whether GOP lawmakers are trying to deliberately sabotage the economy to help their midterm election strategy.”

What’s to discuss? It’s true. Of course Republicans are trying to deliberately sabotage the economy to help their mid-term election strategy, as well as their 2012 presidential election strategy. Republicans in Congress don’t care about deficits (see Dick Cheney) or the debt, except when they’re out of power. When they were in control of everything in D.C. from 2001-2007 what happened? Were there even any cursory attempts to rein in the deficit and pay down the debt?

Quite the contrary. With 2 wars and tax cuts and Medicare Part D, all on the credit card, the debt exploded.

You bet your ass the GOP wants the economy in the tank, as far in as possible. If unemployment is double what it is now and we go into a double-dip recession, or in their wettest dreams a depression, the champagne corks will be popping and ‘Happy Days Are Here Again’ will be blaring from the speakers in Michael Steele’s office. Do you think they care about the pain and suffering it would cause the American people? They care about one thing and one thing only—power. That’s it. If the “small people” have to bear the brunt of that quest, so be it.

Of course once they get it, their faux concern about the deficit and excessive spending will go out the door as they come in. Just like it did before.

Paulson and Greenspan on Meet the Press

08 Monday Feb 2010

Posted by Craig in economy, Financial Crisis, Politics, Uncategorized

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Alan Greenspan, Hank Paulson, housing prices, Meet The Press, recession, unemployment

Remember when Tim Russert was the host and Meet the Press was a serious news show? Those days are no more. Now the host is David Gregory and the best Meet the Press can do is look to two of the architects of the financial meltdown for their opinion on how the recovery is going.

As Crooks and Liars put it:

“Oh yes, who better to bring in than Hank Paulson and Alan Greenspan to ask how we get the economy and the job market turned around in the United States? I know I always want to hear from the people who helped take a wrecking ball to something for advice on how to put it back together.”

Three things I did learn from Jeff Daniels and Jim Carrey Paulson and Greenspan yesterday:

1. The worst of the recession is yet to come.
2. Housing prices are headed lower.
3. Unemployment is going up.

How do I know this? Paulson and Greenspan predicted the opposite. Holding true to form, both also predicted the Colts would win the Super Bowl.

Sneak preview: Next Sunday on Meet the Press, the captain of the Titanic discusses how to avoid icebergs, and Tiger Woods gives advice on marital fidelity.

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