Happy Birthday, Molly Ivins (you were right)

In 1998, the late, brilliant Molly Ivins warned against passage of the Financial Services Modernization Act, predicting that massive financial institutions (like AIG) might take on excessive risk and require taxpayer bailouts:

"Watch the House pass a bad bill. Watch the Senate make it worse. Watch the banking industry dig its own grave. Watch supposedly smart people set up a financial disaster. Can we see President Clinton veto this mess? Veto, Clinton, veto.

"Not since Congress passed the Garn-St. Germain bill in 1981 – the one that deregulated the S&Ls and unleashed a half-a-trillion-dollar disaster, which the taxpayers of this country wound up paying for – has there been a move to match this for pure folly.

"In May, the House passed (by one vote) a bill to eliminate barriers between banks, brokerage firms and insurance companies. This sets up financial holding companies that can offer all three types of services simultaneously. The most obvious risk is that a blunder in the insurance or brokerage end of the business could bring down a bank, putting insured deposits at risk. The taxpayers, of course, then wind up with the tab, as we did with the savings-and-loan mess."

Rick Perry's $487 million corporate slush fund doesn't need your stinkin' audit

The Texas governor doesn't agree that his corporate-handout fund needs an audit—because he and two other GOP pols already monitor it.

Dana Liebelson | Mother Jones
20 March 2013

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 Perry maintains that the fund gives Texas a competitive edge and has brought more than 56,000 new jobs to the state and generated more than $14.7 billion in capital investment. But the watchdog group Texans for Public Justice found that by the end of 2010, companies getting cash from the fund were only creating about 37 percent of the number of jobs promised. The administration has lowered standards in the past so that companies could create fewer jobs than they had promised, and it has canceled contracts after criticism over companies such as Bank of America's Countrywide, which continued to be an Enterprise grantee as it collapsed and laid off thousands of workers nationwide.


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"Perry's office is basically accommodating a process by which taxpayer money is transferred to corporations, not invested in state infrastructure," says Matt Angle, the director of the Lone Star Project, a political action committee devoted to strategic communications and research for Democrats. He would like to see Enterprise funds start going to education, family planning, and roads. (In 2011, Perry cut $5.4 billion in state funding from public schools, and he is turning down $100 billion to expand Medicaid while also shuttering 53 family planning clinics.)"

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Anti-union, pro-fossil fuel forces are the real reason the Post Office is struggling

February 14, 2013

Best-selling author and progressive radio talk show host Thom Hartmann tells Current TV’s John Fugelsang that the U.S. Postal Service is struggling to survive not because of the rise of email and the Internet, but because of a concerted right-wing effort to destroy the USPS.

“As the second -largest employer in the United States, behind Wal-Mart, which is not unionized, they’re the largest union employer in the United States. And ever since 1981, when Ronald Reagan declared war on union workers, the Republican war against unions has been relentless,” Hartmann says.

SOURCE:

Rick Perry shows his love for corporate welfare queens

 Libby Shaw | Texas Kaos
11 Feb 2013

Now that we know the Governor's political appointees have turned the state's taxpayer funded cancer prevention institute (CPRIT) into a cash cow for themselves and their cronies in the medical and pharmaceutical fields, state legislators want to take a hard look at two of Rick Perry's pet projects. This is especially necessary now that CPRIT is under criminal investigation.
 
These funds would be none other than the Texas Enterprise Fund and the Emerging Technology Fund.  These funds were created as a means by which to attract businesses to the state as well as to advance various technologies here.

But both have been shrouded in secrecy with little oversight or accountability. Since the Governor controls these funds and knowing what we know about CPRIT, one has to wonder if their prime motive is to merely serve as corporate welfare programs or as slush funds from which Rick Perry can reward his campaign donors.  

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GOP has to rig elections to win

"Republicans in Virginia snuck an election rigging plan through the state Senate while everyone was focused on the inauguration. I'll tell you what they did - and more importantly why they did it - and how it speaks to the fundamental difference between Conservatives and Liberals." It's because republicans know they can't win, not on a national level. Republicans poll around 26% as a party, the Tea Party is at its lowest levels ever, and Americans continue to reject the ant-science, anti-education, anti-woman, anti-minority, anti-gay, anti-environment, pro-pollution, pro-plutocrat, racist platform. When the country does not agree with you on any major issue, all you have left is to cheat. Even top officials in the party have hinted that they fear they may not be able to win another national election for a long time.

Isolation of the American South

George Packer
21 Jan 2013

Every President elected between 1976 and 2004 was, by birth or by choice, a Southerner, except Ronald Reagan, who enjoyed a sort of honorary status. (When he began the 1980 campaign in Philadelphia, Mississippi, scene of the murder, in 1964, of three civil-rights workers, many Southerners heard it as a dog whistle.) A Southern accent, once thought quaint or even backward, became an emblem of American authenticity, a political trump card. It was a truism that no Democrat could win the White House unless he spoke with a drawl.

Now the South is becoming isolated again. Every demographic and political trend that helped to reelect Barack Obama runs counter to the region’s self-definition: the emergence of a younger, more diverse, more secular electorate, with a libertarian bias on social issues and immigration; the decline of the exurban life style, following the housing bust; the class politics, anathema to pro-business Southerners, that rose with the recession; the end of America’s protracted wars, with cuts in military spending bound to come. The Solid South speaks less and less for America and more and more for itself alone.

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Republican 'deficit hawk' hypocrites

U.S. Senator Bernie Sanders lays out a brief history of Republic hypocrisy concerning the deficit.

Who Stole the American Dream?

The promise of a prosperous middle-class life with decent work, rising living standards, and the potential for a better future has long been the foundation of the American dream. But as America continues to struggle to recover from the Great Recession, it has become clear that the middle class is in jeopardy – and many of the policies of the last 40 years are to blame.



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How the GOP became the party of the rich

The staggering economic inequality that has led Americans across the country to take to the streets in protest is no accident. It has been fueled to a large extent by the GOP's all-out war on behalf of the rich. Since Republicans rededicated themselves to slashing taxes for the wealthy in 1997, the average annual income of the 400 richest Americans has more than tripled, to $345 million – while their share of the tax burden has plunged by 40 percent

Tim Dickinson | rollingstone.com
9 Nov 2011

The nation is still recovering from a crushing recession that sent unemployment hovering above nine percent for two straight years. The president, mindful of soaring deficits, is pushing bold action to shore up the nation's balance sheet. Cloaking himself in the language of class warfare, he calls on a hostile Congress to end wasteful tax breaks for the rich. "We're going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share," he thunders to a crowd in Georgia. Such tax loopholes, he adds, "sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary – and that's crazy."

Preacherlike, the president draws the crowd into a call-and-response. "Do you think the millionaire ought to pay more in taxes than the bus driver," he demands, "or less?"

The crowd, sounding every bit like the protesters from Occupy Wall Street, roars back: "MORE!"

The year was 1985. The president was Ronald Wilson Reagan.

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The Last Word - Sen. Webb rewrites Mitt Romney

Sarah Muller | msnbc.com
28 Sept 2012

We've heard from his own mouth that Mitt Romney thinks of "47 percent" of Americans as takers dependent on government.

Before introducing President Obama at a campaign rally in Virginia on Thursday, Virginia Senator Jim Webb, a former Marine who served in Vietnam, called out the Republican presidential candidate over those harsh comments and reminded him of what the so-called "47 percent" has done for the country, which includes members of the military:

Visit NBCNews.com for breaking news, world news, and news about the economy

Why Romney’s theory of the 'taker class' matters

Ezra Klein | washingtonpost.com
17 Sept 2012

Part of the reason so many Americans don’t pay federal income taxes is that Republicans have passed a series of very large tax cuts that wiped out the income-tax liability for many Americans. That’s why, when you look at graphs of the percent of Americans who don’t pay income taxes, you see huge jumps after Ronald Reagan’s 1986 tax reform and George W. Bush’s 2001 and 2003 tax cuts. So whenever you hear that half of Americans don’t pay federal income taxes, remember: Ronald Reagan and George W. Bush helped build that.

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So notice what happened here: Republicans have become outraged over the predictable effect of tax cuts they passed and are using that outrage as the justification for an agenda that further cuts taxes on the rich and pays for it by cutting social services for the non-rich.

Ezra Klein:

Lawrence O'Donnell: Franklin Graham's true agenda

Surprise! Rev. Franklin Graham's true agenda is to elect Republicans. It's not about serving with humility as a Christian. It's not about giving up everything to follow Jesus Christ. It's about getting on TV to promote his politics for the people who pay his salary: Republicans.

“How is Mitt Romney kicking all of your asses?”

WATCH: Video from Comedy Central, which was broadcast on Jan. 9, 2012

The Daily Show
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Rick Perry's incoherent foreign policy ramble

Janeane Garofalo on the double standard of Republican rhetoric

Matt Taibbi's take on Rick Perry's struggling campaign | Countdown with Keith Olbermann

Rick Perry ready to bail on stupid debates

New Balance struggles as last major athletic shoe brand still manufacturing in U.S.

By Peter Whoriskey | Washington Post
28 July 2011

NORRIDGEWOCK, Maine — At the factory here owned by New Balance, the last major athletic shoe brand to manufacture footwear in the United States, even workers on the shop floor recognize that in purely economic terms, the operation doesn’t make sense.

The company could make far more money if, like Nike and Adidas, it shifted virtually all of these jobs to low-wage countries.

Negotiations between the United States, Vietnam and other countries for a free trade agreement, which would lower the price of imported shoes by removing the existing tariff, have workers at the New Balance factory in Maine worried for the security of their jobs.

Negotiations between the United States, Vietnam and other countries for a free trade agreement, which would lower the price of imported shoes by removing the existing tariff, have workers at the New Balance factory in Maine worried for the security of their jobs.

So employees try working each shift to make it up. Conversations on the shop floor are sparse at best, and the tasks at each work station have been stripped of waste and precisely timed. Workers cut leather for a pair of shoes in 88 seconds, handle precise stitching in 37 seconds and glue soles to uppers even faster.

“The company already could make more money by going overseas, and they know it,” said Scott Boulette, 35, a burly team leader who has his son’s name tattooed in Gothic letters down his left forearm. “So we hustle.”

Now, however, comes what may be an insurmountable challenge. The Obama administration is negotiating a free-trade agreement with Vietnam and seven other countries, and it is unclear whether the plant can stand up to a flood of shoes from that country, already one of the leading exporters of footwear to the United States.

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China Wants To Construct A 50 Square Mile Self-Sustaining City South Of Boise, Idaho

"One of these "special economic zones" would be just south of Boise, Idaho and the Idaho government is eager to give it to them. China National Machinery Industry Corporation (Sinomach for short) plans to construct a "technology zone" south of Boise Airport which would ultimately be up to 50 square miles in size. The Chinese Communist Party is the majority owner of Sinomach, so the 10,000 to 30,000 acre "self-sustaining city" that is being planned would essentially belong to the Chinese government. The planned "self-sustaining city" in Idaho would include manufacturing facilities, warehouses, retail centers and large numbers of homes for Chinese workers. Basically it would be a slice of communist China dropped right into the middle of the United States."

Contact Idaho Sen. Michael Crapo (R)
239 Dirksen Senate Office Building
(202) 224-6142; 228-1375
Boise: (208) 334-1776
Tell him you are against a communist Chinese cheap labor camp of imported Chinese workers that takes away jobs from Americans. Most Americans can unite behind this, as China is still our ideological enemy. Call or write today!


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