25. September 2008 by admin.

I, like probably anyone who might happen on to this site, am spending a lot of time thinking about the financial “crisis” we (America) find ourselves in. I’m saying this kind of tongue in cheek because many people, including myself, have seen this coming for quite some time. It has not been a matter of if, but only a matter of when. About three weeks ago I listened to one of the so-called republican experts on “trickle down economics” talking on the radio as I was heading to work. He was justifying the huge deficit and saying we could handle a deficit twice the size of the present one and he was saying that John Mccain’s proposal to further reduce taxes and reduce government regulation would “stimulate” the economy. Well, in a sense, I think he was correct - only he was thinking it would stimulate things in a positive direction.

Well, now we are in a situation where the entire banking system could fail - I’ve read that even money market accounts that people invested in as “safe” investments are in danger of failing. The thing that is most amazing to me is that there are people still supporting Mccain - mainly, at least the ones around me, because of Sarah Palin. In my mind her lack of experience and knowledge (and possibly intelligence) is a bigger drawback today than when people first started to question whether or not she was “ready” to be president. Mccain, for his part has clearly demonstrated that he’s not ready. Every day I look for the newest flip-flop but lately it has gotten even worse than that.

Mccain has shown off his quick temper and his penchant for making rash decisions in many of his comments and choices of late. For two days he ranted against the head of the SEC saying “I would fire him” first, until he found out the president can’t fire him, and changed that the next day to “I would ask for his resignation.” His claim that the chairman works at the pleasure of the president was not accurate and Mccain just gave another example that in the 26 years he’s been in Washington he’s been a slow learner. Today he said he was “suspending” his campaign and going back to Washington to “fix” the problem - as if the people in Washington who’ve been working on this for the last 5 days or so won’t be able to get anything done unless Mccain is there. I believe we’ll hear a few choice comments from other lawmakers who’ve actually been in Washington this year about the presumptiveness of that statement from someone who hasn’t even submitted a vote for over 6 months. Additionally, it will be interesting if Mccain fails to show for the first debate because he’s “fixing” the problem.

Additionally, while Mccain is trying to blame the “mess” on Senator Obama because Obama supposedly received campaign contributions from Fannie Mae - one of the large mortgage companies rescued by the Fed, Mccain’s own campaign manager has been receiving 15,000 dollars per month for the last three years from Freddie Mac - the other large mortgage company bailed out by the Fed, money that presumably was for nothing, although it totals over half a million dollars which is a lot to pay for nothing. And when you find out that Rick Davis, Mccain’s campaign manager, was paid almost two million dollars in the preceding few years as a lobbyist for Freddie Mac, money that was intended to get them access to Mccain, well, if that doesn’t get you thinking about the meaning of the word hypocrit, I don’t know what will. Supposedly, Mccain - the man who claims that he is the champion of the fight against special interests, despite the fact that the top seven “advisors” on his staff are major Washington lobbyists and Phil Gramm, his financial advisor, led the fight to end the depression era regulation of the banks in this country - a move widely considered to be the catalyst to the present crisis - was going to “fire” anyone on his campaign who was actively lobbying but now is forgiving of Davis because he is on leave from his firm - so supposedly the money is just going into a trust for him to spend after the conclusion of the election.

This is all beyond incredible to me. I live in an area that is dominated by republicans, and they seem to be doing the same thing that President Bush is doing - turning off the TV and pretending that nothing is happening. They refuse to repent and admit that they made a terrible mistake in supporting Bush. It’s almost like if our country becomes another Mexico that it’s just God’s will, or this is the end times. I say no matter what “times” it is, we have an obligation to our children and grandchildren to be good stewards of what we have been blessed with in this nation. The idea that it’s OK to look the other way while people are stealing, killing, torturing, and undermining the very fabric of this great nation - our constitution - is unthinkable to me. As a coworker of mine and I agreed today it is “We the people” and we (her and I) feel guilty by the decisions of these criminal leaders because they represent us. It is very difficult to sit here and watch people destroy our standing in the world, our economy, our military, our moral authority, right before our eyes and not feel a sense of national unity in “throwing the bums out.”

Please understand that I’m not a big fan of the democrats. They clearly should have had the guts to impeach Bush and Cheney long ago - if for nothing more than to make a clear statement that their actions are completely unacceptable. I don’t have a large amount of confidence that they will instill a sense of moral authority after the coming election should they prevail (and they certainly should) - but the best message would be a united vote against the republicans and then a clear message to the democrats (and any republicans left) that things are going to be different. Lying is not OK. Stealing is not OK. Accepting huge amounts of money from lobbyists or corporations is not OK. They should have to collect their money in small amounts from individual people. The budget will be balanced, even if I have to pay more for that. The thought that our best young men and women have been giving their lives and/or limbs for their nation in Iraq and Afganistan and the entire cost has been borrowed is unacceptable. We should all be asked to sacrifice to solve this problem. Business as usual should no longer be an option.

The people need to take back control of this country and the corporations that don’t want to participate with honor should go with Cheney’s company, Halliburton, which chose to move to Dubai instead of face regulatory overstight regarding the huge amounts of money they pilfered from our economy on the no-bid contracts in Iraq for services that, in many cases, were never performed. We will find replacements for the companies that don’t want to put their employees and their honor ahead of their shareholders. This obsession with the bottom line at the expense of the very people that make this country great should be a thing of the past. The only way that will happen, in my view considering the present state of things, is if the republicans get voted into history and democrats get the message that they’ll be next if they can’t perform as the people intend for them to perform. We definitely need two parties, it’s just that I’ve listened to “I’m going to cut taxes and balance the budget” for thirty years - it didn’t make sense when I first heard it - it doesn’t make sense now - and now we are “paying the piper.”

I have respect for Senator Obama, I’ve read his book, I’ve read many of his speeches, I’ve admired that he is apparently a genuine husband and father, I respect that he is extemely intelligent, and I really respect that he chose a lifetime of service when the other option was getting rich quick as a Wall Street lawyer. However, he has to know that he has my vote, but I will be just as vocal an opponent if he gets into the White House and demonstrates that his words are nothing but hot air. I believe he has the right ideas for tackling the huge problems the next president will inherit (Mccain has no ideas as far as I can see other than firing someone he couldn’t fire if he was in the office) and he has also shown me a level of energy during this long grueling campaign that will be a requirement if he is to have any chance of success. The next president will not be able to spend close to fifty percent of his time on vacation. The next term of the office of the president will have a profound effect on this country, one way or the other, for the next several decades. There you have it, a quick thought on the economic crisis! :o)

Oh yes, one more thing, for what it’s worth - to me the bailout of Wall Street is like asking the fox to rebuild the chicken house and expect there to still be chickens when he’s done. I prefer to tough it out and No bailout!!! unless the money goes to the homeowners who are facing foreclosure.

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25. September 2008 by admin.

Last night I posted an email that I received from Dennis Kucinich that I thought would be useful to anyone who might read this blog. Tonight I received another and I admire his integrity and intelligence so I’m posting his “Main Street Recovery Plan” for anyone who might not be connected to him. He’s definitely, in my view, a friend of “Main Street.”

Kucinich’s Main Street Recovery Plan

1. Health Care for All: Insurance companies make money not providing health care. As the co-author of HR 676, a universal, single-payer, not-for-profit health care system, Medicare for All, I understand millions of Americans want health care that is accessible and affordable.

Medicare for All will help businesses large and small, create jobs as well as save the jobs of thousands of people including those of doctors, nurses and other healthcare workers who are currently leaving medicine because it is run by the insurance companies. $1 in every 3 dollars of the $2.4 trillion spent annually in America for health care goes to the insurance companies. If we take that money ($800 billion in unproductive wasteful spending) and put it directly into care, we will have enough money to cover everyone. We are already paying for Medicare for all, but not receiving it. HR 676 changes that!

2. Prescription Drug Benefit for Seniors: HR 6800 is the MEDS Act, which provides a fully paid prescription drug benefit, under Medicare, for all seniors. I wrote this bill to help alleviate the economic pressure that comes from the high cost of prescription drugs. We can pay for it by letting the government negotiate drug prices with the pharmaceutical companies as well as by permitting re-importation.

3. Stop the Oil Companies’ Price Gouging: As you know, I was the first one to step up to challenge of the corrupt price gouging and market speculation of the oil companies by proposing a windfall profits tax, on oil and natural gas companies, with revenues put into tax credits for the purchase of fuel-efficient American-made cars. However, it may be that nationalization is the only way to put an end to the oil companies’ sharp practices.

4. Protecting the American Homestead: As Chairman of the Domestic Policy Oversight Subcommittee, I am working to protect your basic right to have a roof over your head, whether as an owner or renter. I have investigated and helped to expose the manipulation of mortgage markets, and I am crafting a new federal policy so that neighborhoods with the highest number of foreclosures get the most help.

5. Jobs for All: Congressman LaTourette and I have co-authored the bi-partisan New Deal-type jobs program, HR 3400, “Rebuilding America’s Infrastructure.” It will create millions of good-paying new jobs rebuilding our roads, bridges, water systems and sewer systems.

6. American Manufacturing Policy: I am drafting the American Manufacturing Policy Act, which for the first time, will state that the maintenance of U.S. steel, automotive, and aerospace industries are vital to our national economic security and must be maintained through integrated public-private cooperation, new trade policies, and investment.

7. Works Green Administration: I am also drafting plans for a green New Deal jobs program, in which the government creates millions of jobs by incentivizing the design, engineering, manufacturing, distribution and maintenance of millions of wind and solar micro-technologies for millions of homes and businesses, dramatically lowering energy costs and reducing our dependence on oil.

8. Fair Trade: The U.S. has lost millions of good-paying jobs, and more jobs have been out-sourced. As you know, I have helped to lead the way in opposition to trade giveaways. I strongly urge repeal of NAFTA. We must include workers’ rights, human rights and environmental quality principles in all trade pacts. We must also protect the Great Lakes’ water resources from the reach of multi-national corporations.

9. Education for All: I know families need help with the rising cost of day care. That is why I introduced HR 4060, a universal pre-kindergarten program to ensure that all children ages 3-5 have access to full-day, quality day care.

10. Protecting Pensions: I am working to change bankruptcy laws so pensioners’ claims will be first, ahead of banks, and that corporate executives who misuse workers’ pension funds are subject to criminal penalties. I want to fully fund the Pension Benefit Guarantee Board.

11. Social Security: From my first moments in Congress, I have exposed Wall Street’s efforts to privatize Social Security and attacked it in the Democratic Caucus when it was being proposed. Can you imagine where seniors would be today if Social Security had been turned over to the stock market? Social Security is solid through 2032 without any changes.

12. Protect Bank Deposits: I will work to make sure the Federal Deposit Insurance Corporation (FDIC) has sufficient funds to provide for insurance of deposits up to $200,000 at all banks and savings and loans. This is an urgent matter since so many banks are said to be vulnerable.

13. Protect Investors: Bring back strong regulation to Wall Street. As Chairman of the Domestic Policy Subcommittee, I challenged the Wall Street hedge fund speculators as a threat to small investors. I intend to keep active watch over the machinations on Wall Street.

14. Strength through Peace: You’ll remember when I led the effort against the ill-conceived Iraq war, which has now cost more than 4,100 US soldiers’ lives, cost U.S. taxpayers between $3 trillion and $5 trillion, and resulted in the deaths of more than a million Iraqis. We must bring our troops home and end the war. We must engage in diplomacy. We must reduce the military budget, and we must stop outrageous cost overruns by the likes of Halliburton.

15. Safety in America: I am proud of my work for peace. In July 2001, I introduced a bill, which today is HR 808, that for the first time creates a comprehensive plan to deal with the issues of violence in American society, particularly domestic violence, spousal abuse, child abuse, gang violence, gun violence, racial violence, and violence against gays by establishing a Cabinet-level Department of Peace and Restorative Justice. This proposal has sparked a national movement and when implemented will save tax payers millions of dollars.

16. Monetary Policy: It is long past the time that we looked at the implications of our debt based monetary system, the privatization of money created by the 1913 Federal Reserve Act, the banks fractional reserve system and our debt-based economic system. Unless we have dramatic reform of monetary policy, the entire economic system will continue to accelerate wealth upwards. I am currently working on drafting legislation for an ‘American Monetary Act’ to address these and other issues in order to protect the economic wellbeing of America.

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