All you do is sit down at a typewriter and open a vein."
-- Walter Wellesley
Thursday, July 7, 2011
Quote Of The Day
July 7th, 2011
"There's nothing to writing.
All you do is sit down at a typewriter and open a vein."
-- Walter Wellesley
All you do is sit down at a typewriter and open a vein."
-- Walter Wellesley
Wednesday, July 6, 2011
Quote Of The Day - Here and Now Edition
July 6th, 2011
"This country now possesses the strongest credit in the world. The full consequence of a default–or even the serious prospect of default–by the United States are impossible to predict and awesome to contemplate."
--Ronald Reagan
--Ronald Reagan
A "Sweet, Sweet, Humble Man"
July, 6th, 2011
In case you missed it, here is Jon Stewart's reportage of the Glenn Beck final episode. It is close to pure art.
In case you missed it, here is Jon Stewart's reportage of the Glenn Beck final episode. It is close to pure art.
Misdirected Outrage Follows Dubious Obsession
July 6th, 2011
by F. Grey Parker
In the wake of yesterday's verdict in the Casey Anthony trial, I have been stunned at some of the reactions and the wild pronouncements from America's armchair-jurists. I have heard blanket condemnations of our justice system. I've seen the jurors referred to as "gullible," "naive" and even as "stupid." All this in spite of the prosecution having seated a relatively well educated, pro-capital punishment jury.
by F. Grey Parker
Ezra Klein On Obama's Debt Ceiling Pronouncements
July 6th, 2011
Klein writes:
"President Obama's debt-ceiling remarks were interesting for two reasons: what he said, and what he didn't say.
What he said is that we're not doing a short-term deal. "I’ve heard reports that there may be some in Congress who want to do just enough to make sure that America avoids defaulting on our debt in the short term, but then wants to kick the can down the road when it comes to solving the larger problem of our deficit," the president. "I don’t share that view."
If you take the president at his word, that's something of a scary comment. Washington's working definition for "solving the larger problem of our deficit" is $4 trillion in deficit reduction over the next 10-12 years, including substantial taxes and changes to Medicare and Medicaid. There's no way Republicans and Democrats are going to agree on a package like that by late-July. Nor is one needed by late-July. What's needed by late-July is an increase in the debt ceiling. We need, in Austan Goolsbee's piquant terms, to avoid "the first default in history caused purely by insanity."
Indeed. Avoiding a permanent and devastating (not to mention potentially world wide) economic disaster does not qualify as "kicking the can."
Klein writes:
"President Obama's debt-ceiling remarks were interesting for two reasons: what he said, and what he didn't say.
What he said is that we're not doing a short-term deal. "I’ve heard reports that there may be some in Congress who want to do just enough to make sure that America avoids defaulting on our debt in the short term, but then wants to kick the can down the road when it comes to solving the larger problem of our deficit," the president. "I don’t share that view."
If you take the president at his word, that's something of a scary comment. Washington's working definition for "solving the larger problem of our deficit" is $4 trillion in deficit reduction over the next 10-12 years, including substantial taxes and changes to Medicare and Medicaid. There's no way Republicans and Democrats are going to agree on a package like that by late-July. Nor is one needed by late-July. What's needed by late-July is an increase in the debt ceiling. We need, in Austan Goolsbee's piquant terms, to avoid "the first default in history caused purely by insanity."
Indeed. Avoiding a permanent and devastating (not to mention potentially world wide) economic disaster does not qualify as "kicking the can."
Reich On Where We've Been... And Where We're Going
July 6th, 2011
Indeed. Whatever did happen to the concept of "joint prosperity?"
Indeed. Whatever did happen to the concept of "joint prosperity?"
What's The Worst That Could Happen? ctd...
July 6th, 2011
As the Republicans continue to hold our nation's creditworthiness hostage to their ageneda, an increasing number of observers are advocating the "14th Amendment solution." Among them, Katrina Vanden Heuvel who wrote for WaPo:
"President Obama may find that there is only one course left to avoid a global economic calamity: Invoke Section 4 of the 14th Amendment, which says that “the validity of the public debt of the United States … shall not be questioned.” This constitutional option is one that the president alone may exercise.
"President Obama may find that there is only one course left to avoid a global economic calamity: Invoke Section 4 of the 14th Amendment, which says that “the validity of the public debt of the United States … shall not be questioned.” This constitutional option is one that the president alone may exercise.
Quote Of The Day
July 6th, 2011
"Better that ten guilty persons escape than that one innocent suffer."
-- William Blackstone
-- William Blackstone
Tuesday, July 5, 2011
The So-Called Financial Repatriation Holiday
July 5th, 2011
The latest scheme to keep American corporations from paying a reasonable tax on profits made abroad is not a new idea. The Republicans can dress it up as a way to "create jobs" all they want but that hasn't happened in the past. As Krugman notes, the last time we tried this the results were of no discernible benefit to anyone other than stockholders:
"A similar tax holiday was offered in 2004, with a similar sales pitch. And it was a total failure. Companies did indeed take advantage of the amnesty to move a lot of money back to the United States. But they used that money to pay dividends, pay down debt, buy up other companies, buy back their own stock — pretty much everything except increasing investment and creating jobs. Indeed, there’s no evidence that the 2004 tax holiday did anything at all to stimulate the economy.
What the tax holiday did do, however, was give big corporations a chance to avoid paying taxes, because they would eventually have repatriated, and paid taxes on, much of the money they brought in under the amnesty. And it also gave these companies an incentive to move even more jobs overseas, since they now know that there’s a good chance that they’ll be able to bring overseas profits home nearly tax-free under future amnesties.
Yet as I said, there’s a push for a repeat of this disastrous performance. And this time around the circumstances are even worse. Think about it: How can anyone imagine that lack of corporate cash is what’s holding back recovery in America right now? After all, it’s widely understood that corporations are already sitting on large amounts of cash that they aren’t investing in their own businesses.
In fact, that idle cash has become a major conservative talking point, with right-wingers claiming that businesses are failing to invest because of political uncertainty. That’s almost surely false: the evidence strongly says that the real reason businesses are sitting on cash is lack of consumer demand. In any case, if corporations already have plenty of cash they’re not using, why would giving them a tax break that adds to this pile of cash do anything to accelerate recovery?"
The latest scheme to keep American corporations from paying a reasonable tax on profits made abroad is not a new idea. The Republicans can dress it up as a way to "create jobs" all they want but that hasn't happened in the past. As Krugman notes, the last time we tried this the results were of no discernible benefit to anyone other than stockholders:
"A similar tax holiday was offered in 2004, with a similar sales pitch. And it was a total failure. Companies did indeed take advantage of the amnesty to move a lot of money back to the United States. But they used that money to pay dividends, pay down debt, buy up other companies, buy back their own stock — pretty much everything except increasing investment and creating jobs. Indeed, there’s no evidence that the 2004 tax holiday did anything at all to stimulate the economy.
What the tax holiday did do, however, was give big corporations a chance to avoid paying taxes, because they would eventually have repatriated, and paid taxes on, much of the money they brought in under the amnesty. And it also gave these companies an incentive to move even more jobs overseas, since they now know that there’s a good chance that they’ll be able to bring overseas profits home nearly tax-free under future amnesties.
Yet as I said, there’s a push for a repeat of this disastrous performance. And this time around the circumstances are even worse. Think about it: How can anyone imagine that lack of corporate cash is what’s holding back recovery in America right now? After all, it’s widely understood that corporations are already sitting on large amounts of cash that they aren’t investing in their own businesses.
In fact, that idle cash has become a major conservative talking point, with right-wingers claiming that businesses are failing to invest because of political uncertainty. That’s almost surely false: the evidence strongly says that the real reason businesses are sitting on cash is lack of consumer demand. In any case, if corporations already have plenty of cash they’re not using, why would giving them a tax break that adds to this pile of cash do anything to accelerate recovery?"
Varney Smears Higher Fuel Efficiency Standards
July 5th, 2011
Yup. Higher fuel standards are bad because they get in way of consumer "choice." Via Media Matters:
Yup. Higher fuel standards are bad because they get in way of consumer "choice." Via Media Matters:
Bachmann Zealotry Watch
July 5th, 2011
Rep Michelle Bachmann (R-MN) continued the long and dubious tradition of right wing Presidential hopefuls appealing to the evangelical base in an appearance before two groups of Iowa churchgoers this Sunday:
"We too are at a crucial time today. And I think it is for us to remember, that if we do as Chronicles tells us, if we humble ourselves, and pray and confess our sins, and turn away from our wicked ways, and ask an almighty God to come and protect us and fight the battle for us, we know from his word, his promise is sure. He will come. He will heal our land. And we will have a new day."
In the interests of disclosure, I find her words most appalling due to my being a practicing Christian. First of all, faith is not policy. We are endowed with the will to act and through that alone we will better our country. Second, her history of venomous and divisive statements coupled with policy proposals that are decidedly un-Christian makes her pandering repulsive.
We can expect to see more of this, I am sure.
Rep Michelle Bachmann (R-MN) continued the long and dubious tradition of right wing Presidential hopefuls appealing to the evangelical base in an appearance before two groups of Iowa churchgoers this Sunday:
"We too are at a crucial time today. And I think it is for us to remember, that if we do as Chronicles tells us, if we humble ourselves, and pray and confess our sins, and turn away from our wicked ways, and ask an almighty God to come and protect us and fight the battle for us, we know from his word, his promise is sure. He will come. He will heal our land. And we will have a new day."
In the interests of disclosure, I find her words most appalling due to my being a practicing Christian. First of all, faith is not policy. We are endowed with the will to act and through that alone we will better our country. Second, her history of venomous and divisive statements coupled with policy proposals that are decidedly un-Christian makes her pandering repulsive.
We can expect to see more of this, I am sure.
What's The Worst That Could Happen? ctd...
July 5th, 2011
Although I generally regard the NY Times' David Brooks to be a hack and an apologist for the Republican Party, there are some signs that reason is creeping into his analyses. He wrote earlier today about the games being played by the far-right in the debt limit debate:
"The members of this movement have no sense of moral decency. A nation makes a sacred pledge to pay the money back when it borrows money. But the members of this movement talk blandly of default and are willing to stain their nation’s honor."
I am in complete agreement with Mr. Brooks on this one.
Although I generally regard the NY Times' David Brooks to be a hack and an apologist for the Republican Party, there are some signs that reason is creeping into his analyses. He wrote earlier today about the games being played by the far-right in the debt limit debate:
"The members of this movement have no sense of moral decency. A nation makes a sacred pledge to pay the money back when it borrows money. But the members of this movement talk blandly of default and are willing to stain their nation’s honor."
I am in complete agreement with Mr. Brooks on this one.
Bursting Another Republican Bubble
July 5th, 2011
Finally, a little factual push-back against the Republican bogeyman that is "non-defense discretionary spending."
From TPM:
"Although non-defense discretionary spending in nominal dollars has increased, when taking inflation and population growth into account the amount contained in the [2011 budget] represents no increase over what we spent in 2001, a year in which we generated a surplus of $128 billion," said chairman Daniel Inouye (D-HI) in a prepared statement. "So the right question to ask is: Are we really spending too much on non-defense programs? The answer is clearly no."
Committee staff put together the below table to emphasize the point.
In the wake of the Bush tax cuts, and the Great Recession, tax revenue has fallen through the floor to near-historic lows. As a percentage of GDP, it's fallen 24 percent since 2001, and if you correct for inflation, the government is collecting nearly 20 percent less per person than it was a decade ago. At the same time, the population-adjusted costs of mandatory spending programs -- driven by Medicare, including its new prescription drug benefit, and Medicaid -- have increased by over 30 percent. And, of course, defense spending has skyrocketed. But if you isolate domestic discretionary programs, a decade later we're spending no more on a per-person basis than we were back then."
Finally, a little factual push-back against the Republican bogeyman that is "non-defense discretionary spending."
From TPM:
"Although non-defense discretionary spending in nominal dollars has increased, when taking inflation and population growth into account the amount contained in the [2011 budget] represents no increase over what we spent in 2001, a year in which we generated a surplus of $128 billion," said chairman Daniel Inouye (D-HI) in a prepared statement. "So the right question to ask is: Are we really spending too much on non-defense programs? The answer is clearly no."
Committee staff put together the below table to emphasize the point.
In the wake of the Bush tax cuts, and the Great Recession, tax revenue has fallen through the floor to near-historic lows. As a percentage of GDP, it's fallen 24 percent since 2001, and if you correct for inflation, the government is collecting nearly 20 percent less per person than it was a decade ago. At the same time, the population-adjusted costs of mandatory spending programs -- driven by Medicare, including its new prescription drug benefit, and Medicaid -- have increased by over 30 percent. And, of course, defense spending has skyrocketed. But if you isolate domestic discretionary programs, a decade later we're spending no more on a per-person basis than we were back then."
Quote Of The Day
July 5th, 2011
"It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime."
-- Thomas Paine
-- Thomas Paine
Monday, July 4, 2011
The First Of Its Kind
July 4th, 2011
What follows this introduction is the first inaugural address given in these United States. As we celebrate this day as as that of our nation's birth, marking the same day in July of 1776, I find it notable that the first swearing in of a President did not come until a little less than fifteen years later. Great things don't come cheap. They don't come easily. And, most importantly, they don't happen overnight.
It took a long time to get from the day of declared independence to April 30th, 1789. But get there we did.
Quote Of The Day - Independence Day Edition
July 4th, 2011
To all those who would say we should roll back progress to the time of our Founders, I would suggest that they need to read substantially more Thomas Jefferson. Happy Birthday, America. We are still creating our future.
"Half a loaf is better than no bread. If we cannot secure all our rights, let us secure what we can."
-- Thomas Jefferson
... And let's keep working on the rest.
"Half a loaf is better than no bread. If we cannot secure all our rights, let us secure what we can."
-- Thomas Jefferson
... And let's keep working on the rest.
Sunday, July 3, 2011
Exasperation Within
July 3rd, 2011
Milt Shook recently wrote a "101" lesson plan for progressives who are as much under siege from their own fringe as they are from the conservative movement:
"...a large number of far-left “progressives” were actually crowing at the “silver lining” in the 2010 election results; that about half of all “Blue Dog” Democrats lost. Yes, that’s right; they were HAPPY. Nancy Pelosi was replaced by an orange Boner, the committee chairs all went from being progressive Democrats to being right wing Republicans. We went from having a House of Representatives that passed hundreds of relatively progressive bills to one that has repeatedly tried to kill Medicare and damage Social Security.
And do you know WHY this happened? In part, it’s because about 25 “Blue Dogs,” almost all of whom voted with Democrats at least 80% of the time, were replaced by right wing Republicans and teabaggers.
Does that sound like ":progress" to you? Really? If you do, then you must be one of those geniuses who thinks both major parties are the same."
Indeed, many of those Shook refers to as "far-left" bear the responsibility for last November's poor turnout. The fear that was stoked by the Drudge/FOX/Red State types on the right was matched and, in some ways, surpassed by the cynicism spawned within liberal ranks by our own self-declared purists.
Milt Shook recently wrote a "101" lesson plan for progressives who are as much under siege from their own fringe as they are from the conservative movement:
"...a large number of far-left “progressives” were actually crowing at the “silver lining” in the 2010 election results; that about half of all “Blue Dog” Democrats lost. Yes, that’s right; they were HAPPY. Nancy Pelosi was replaced by an orange Boner, the committee chairs all went from being progressive Democrats to being right wing Republicans. We went from having a House of Representatives that passed hundreds of relatively progressive bills to one that has repeatedly tried to kill Medicare and damage Social Security.
And do you know WHY this happened? In part, it’s because about 25 “Blue Dogs,” almost all of whom voted with Democrats at least 80% of the time, were replaced by right wing Republicans and teabaggers.
Does that sound like ":progress" to you? Really? If you do, then you must be one of those geniuses who thinks both major parties are the same."
Indeed, many of those Shook refers to as "far-left" bear the responsibility for last November's poor turnout. The fear that was stoked by the Drudge/FOX/Red State types on the right was matched and, in some ways, surpassed by the cynicism spawned within liberal ranks by our own self-declared purists.
Quote Of The Day
July 3rd, 2011
"When a religion is good, I conceive it will support itself; and when it does not support itself, and God does not care to support it, so that its professors are obliged to call for the help of the civil power, 'tis a sign, I apprehend, of its being a bad one."
-- Benjamin Franklin
-- Benjamin Franklin
Saturday, July 2, 2011
Quote Of The Day
July 2nd, 2011
"This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in. "
-- Theodore Roosevelt
-- Theodore Roosevelt
Friday, July 1, 2011
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