Under The Weather

Much like our nation’s economy, the Last Person Left has been suffering from ill health as of late and will be out of commission for the foreseeable future. To my friends and readers, I apologize. I will be back up as soon as my body allows me to.

 

Stay well and continue to Read-Learn-Think-Act!

 

LPL

 

Republicans to President Obama: “You’re Doing Too Much”

President Barack Obama has maintained a hectic pace during his first 100 days in the oval office. He has promised health care and education reform, while attempting to manage the economic meltdown. Not all of his nominations have panned out. The executive bonus fiasco has been a major distraction. Yet, the President appears to be very competent in the art of multi tasking. Having few substantive issues to hang on to, the Republicans have come up with one of the silliest criticisms towards the President. Their new hollow critique is that he is “doing too much”.

 

I suppose that the Republicans would prefer a President that does too little than one that does too much. And why shouldn’t they want a part-time President? The last Republican President, George W. Bush, spent 977 days either at Camp David or at his ranch in Crawford Texas. In other words, Bush the Younger spent 33.4% of his presidency on vacation. That is more than 2½ years of his 8 year tenure! Another inconvenient fact is that President Bush had been on a month-long vacation barely 6 months into his presidency in 2001. Shortly upon his return, terrorists attacked. In a vacation sequel, the President was also on vacation when Hurricane Katrina struck in 2005.

 

George H.W. Bush spent 543 of his 1460 days as President on vacation (36.5%). The Great Communicator, Ronald Reagan was a pretty good vacationer in his own right, spending 335 days on vacation (11.4%). Contrast this with Presidents Bill Clinton (5.2%) and Jimmy Carter (5.4%).

 

No wonder Republicans think that government is broken.

When those who are supposed to run it… are on vacation.

 

 Want to talk about this? Leave a comment!

Timothy Geithner Must Go! Progressive Economist Wanted.

Let’s get this straight. Senator Christopher Dodd (D-CT) did not  make it possible for AIG executives to collect these outrageous bonuses. He, in fact, had added an amendment to the American Recovery and Reinvestment Act of 2009 prohibiting this hideous act. It was the Treasury Department that lobbied Congress to remove this clause, thus allowing AIG and others to legally collect these bonuses. Although I am a liberal partisan, I will call out the Obama administration for dropping the ball on this one. Officials from the Obama administration made these payouts possible. But where did the pressure stem from? The Treasury Department! Led by whom? Timothy Geithner, a Bush appointee to the New York Fed.

 

It is time to let this guy go. Period… End.

 

I understand the President’s desire to have an all-encompassing bi-partisan administration. It was a noble gesture. I believe that my President believes that humans are by nature good hearted people. But, he screwed this one up. Geithner, is simply, one of them so to speak. He must have had knowledge of the Dodd amendment and had his people kill the effort to restrict bonuses. He was, in effect, helping his people.

 

President Obama. Cut your losses. It’s time to change course! Mr. Geithner is a liability and it’s time to bring on a Secretary of the Treasury who will advance the progressive agenda. Mr. Geithner is not the guy.

 

I have two names for you:

 

Robert Reich

Paul Krugman

Want to talk about this? Make a comment or drop me an email.

 

 

 

Republicans are Lying Again! Fake Republican Populism: AIG and the Bonus Faux Outrage

As the bonus payment flap continues, AIG is crying that they are contractually bound to pay their executives bonuses in spite of their economic standing. The question that begs to be asked is what was the performance incentive required to qualify for these bonuses? There is nothing inherently wrong with dabbling in uncertain financial instruments. But AIG is an INSURANCE company. Their job was to practice prudent actuarial science. It was AIG who was insuring the reckless banking industry. AIG may not have invented the problem but by insuring those who indulged in this foolishness they were complicit. Readers, the real outrage is not that they are paying out the bonuses but that the law allows this miscarriage.

 

Who in the Congress allowed these bonuses to become legal? Remember, that as part of the bailout, AIG was obligated to restructure previous commitments, much like the automakers were forced to do.  And even though the Republicans are now pointing the finger at Senator Christopher Dodd (D-CT), it is clear that someone other than Sen. Dodd inserted the language allowing for these bonuses to be legal when the bill passed into law in mid-February. This is the troubling nugget mysteriously inserted into the American Recovery and Reinvestment Act of 2009.

 

The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.

 

Now the Republicans have become the people’s hero. They are crying foul! The Democrats are to blame for allowing AIG execs to fleece the American taxpayer.  Any one who swallows this spin is out of their mind. I am sure that Limbaugh’s audience is salivating. Folks, not too long ago it was the Republicans who excoriated Democrats for having the gall to suggest that the government regulate executive pay and bonuses.

 

In September of 2008, Republican Senator Richard Shelby (SC) made it very clear that government had no business regulating private corporations. He said,  

“It should be up to the board of directors of a private corporation to set the compensation of an executive… it shouldn’t be Congress’s role.”

In early February, Republican Senator Mitch McConnell (KY) had this to say about regulating executive pay, “I really don’t want the government to take over these businesses and start telling them everything about what they can do.”

 

But today they sing a different tune! This is nothing more than elitist conservatives trying to pass over as populists. (yes it’s the Republicans who are elitist!) They are for the working person (not). They are fighting for the American taxpayer (not). They are liars! The Republicans created this freaking mess! They rejoice in their deceit! Their past success has been based solely on their ability to spin, deceive and trick the American electorate. They have no shame. Call it what it is. The Republican Party of today is a party of self interest and personal gain. They pledge allegiance only to themselves and to their ideology regardless of the consequences to the nation and its citizens while shamelessly wrapping themselves in the flag and criticizing Americans who want to see America succeed.

 

The 2008 elections demonstrated that Americans are no longer that gullible. With an educated and savvy electorate, the 2010 mid term elections will prove that Americans will no longer fall for this Republican bullshit!

 

 Disclaimer: I do not believe that conservatism and the Republican Party are one and the same. The party of deceit has hijacked conservative ideology in order to advance their hideous agenda. Though I am an advocate of liberalism, I do respect conservative ideology as an alternative economic, political and socio-cultural view point however much I may disagree with it.

Idiot Watch: Senator Charles Grassley (R-Iowa)

Republican Iowa Senator Charles Grassley is taking some heat for his comment regarding AIG executives stating that they should resign or commit suicide. Granted, it is a pretty stupid comment, but coming from a Republican lawmaker, it should surprise no one. Here is the quote:

 

“I suggest, you know, obviously, maybe they ought to be removed but I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, I’m sorry, and then either do one of two things: resign or go commit suicide.

 

Yet there is a tangential point to be made here. The act of seppuku, or Japanese ritual suicide, was performed in feudal Japan to avoid capture by an enemy, as act of protest, or as a remedy to atone for a shameful act. To imply that AIG executives have shame in their portfolios is foolish.

 

Though paying out bonuses while receiving bailout money is reprehensible, the true shame lies on those responsible for allowing this to happen. The greed seen on Wall Street is a direct result of the Republican led Congress of the George W. Bush era. That Congress, scaled back regulations, changed existing laws (see bankruptcy law) and overtly looked the other way in the name of laissez-faire capitalism. Republicans were duplicitous in this and for them to a point finger now is simply hypocritical and disingenuous. (In other words… truly Republican)

 

Republican Senator Charles Grassley of Iowa… You are an IDIOT!

History Repeats Itself As Republicans Spin Employee Free Choice Act

One of the more amusing things of the economic quagmire left by the Republicans in 2008 is that they did the same thing to our country in the late 20’s and early 30’s. The asinine revisionist history that the Republicans spew today regarding FDR and the New Deal just exemplifies the insanity of conservative ideology. It’s a crying shame that so many Americans simply do NOT know (or care to know) our nation’s history and readily accept the conservative spin as outright truth.

 

A recent piece by a fellow blogger and friend at The Modern Left titled “Employee Free Choice Act = Radical Islam?”, exposes the lies and fear mongering that big corporations have been disseminating in order to defeat this vital piece of legislation. So here we are facing an economic catastrophe and the present administration is supporting measures to ensure workers’ rights while big business fights rabidly against it and as usual all we have to do is read a bit of history and we will see that this has happened before, under similar circumstances and the nation as a whole benefited greatly from enhanced workers’ rights.

 

Rewind to 1933

 

The nation was in the midst of the First Republican Great Depression. Unemployment was rampant. Franklin Delano Roosevelt had assumed the presidency in March of 1933, inheriting the worse economic catastrophe in our history to date. Corporations and banks were clamoring for government assistance, which the government provided. Big business was more than happy to get relief but they balked at a few caveats that the administration included. Under the guidance of Labor Secretary Francis Perkins, (our first ever female Cabinet member) the administration enacted provisions that prohibited child labor. It enacted a minimum wage requirement and a maximum hour work week. The legislation dramatically improved workplace conditions and created unemployment compensation. These provisions that we now take for granted were vehemently opposed by business interests and the Republican Party. Now imagine what this country would be like without these safeguards today! It is not surprising that the same arguments that are being made today in 2009 are exactly the same nonsense that was made in 1933. And in much the same way, I am sure that the progressive agenda will succeed under President Obama as it did under FDR, no matter how the conservatives want to spin it.

 

History has a funny way of repeating itself.

 

 

Idiot Watch: South Carolina Republican Governor Mark Sanford

Another southern state.

Another southern politician.

Another stupid comment.

 

Gov. Sanford with former President Bush

 

South Carolina Republican Governor, Mark Sanford, in his infinite non-existent wisdom, is warning that President Obama’s stimulus plan will drive the United States towards a Zimbabwe-like recession. Ludicrous to say the least!

 

Okay let’s assume Governor Sanford knows a little bit more about global economics and geography than Sarah Palin. (The jury is still out) The governor has requested a waiver from the administration to be able to use stimulus money to pay down South Carolina’s debt. This obviously is not the intent of the stimulus and will not be allowed. The governor who has previously crusaded against extending much needed unemployment benefits to state residents. In his waiver request, he informed the President that he will not use stimulus money for unemployment benefits.

 

While the governor is making ridiculous comparisons, he fails to realize that it is South Carolina that is looking more and more like Zimbabwe; both neglecting its poor and disenfranchised.

Besides the second highest unemployment rate in the nation, South Carolina ranks 4^th in the nation in infant mortality; behind the great Republican-run states of Louisiana, Mississippi and Tennessee. In 2008, South Carolina ranked #1 in violent crimes per capita. In 2007, the state ranked 47^th in personal income. Not to mention that the state receives approximately 35% more in federal funds that it contributes to federal coffers. South Carolina also ranks 49^th in high school graduation rates, 8^th in occupational fatalities, and is ranked the 3^rd least healthy state in the union according to the United Health Foundation.

Governor Sanford leads a state that is failing its residents.

  

I am sure that he cannot see the misery of its citizens from his mansion in Harare… I mean Columbia.

 

Republican Governor Mark Sanford of South Carolina… You are an IDIOT!

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Idiot Watch: Senator John Ensign (R) Nevada

Though the District of Columbia was initially envisioned by the founding fathers as simply a dormitory for employees of the federal government, it has grown into a vibrant, mainly Democratic enclave of over 600,000 residents. These residents pay federal income tax yet they do not have a vote in the House. That’s called taxation without representation. After years of wrangling, the District of Columbia is on the verge of finally acquiring their representative.

 

Republican (Dirty) Politics as Usual

 

Republicans are crying foul over the constitutionality of granting D.C. a sure Democratic seat in the House of Representatives. Congress has plans to allocate an additional seat to Utah, a Republican stronghold, thus negating the political argument. Constitutionally, there are valid legal arguments on both sides.

 

Yet, leave it to a Republican to throw his idiotic two cents into this issue. As the District of Columbia continues its battle for fair and equal representation in the House of Representatives, Senator John Ensign, a Republican from Nevada has made use of the legislative powers of Congress over D.C. to introduce an amendment that would repeal the District’s strict gun control laws. The senator from gun-loving Nevada has willfully poisoned this important piece of legislation with a strictly partisan and obtrusive amendment. This smacks of pure issue driven politics. While Republicans champion “states’ rights” they find no problem in injecting their politics into what is simply a local issue.

 

Hypocritical Senator John Ensign of Nevada… You are an IDIOT!

 

The Change We Really Need

Now that the Obama’s Administration agenda is just about ready to hit a Republican wall, it is time to for the President to go through with his much promised “change for America”.

The nation is on the precipice of an economic and social catastrophe. The stock market continues to sink. The financial sector remains on life support, barely gasping for breath. The planet’s economic health rests almost exclusively with our nation’s financial stability. Social upheaval as a result of tough economic times is a real possibility in this country.

And while all this is happening, the Republicans and other obstructionists continue to play partisan political games. These shenanigans continue to leave this nation vulnerable. The Republicans simply do not care if the economy goes into the crapper. They are more concerned with the mid-term elections in 2010 than the immediate crisis. In addition, the Republicans are so ideological that they would be willing to see the administration fail than to credit it if it succeeds. That is a fact!

 

What the President needs to do is to alter his political course in fighting this crisis. Unfortunately, bipartisanship is only reserved for times of justified war. President Obama needs to get this picture and get it quickly. Bipartisanship is not the answer to this crisis. The President needs to act decisively and expeditiously and if the Republicans refuse to come along, then so be it. Mr. Obama needs to alert the nation that this is not simply another bubble bursting but a calamity with national security implications.

It may be early in the administration, but Mr. Obama needs to go “all in” on this issue. Should the President continue the current course of action and the economy fails (as predicted) he will be judged harshly. It is time to act boldly. After all, we did vote for change!