Economic Policy

David Stockman And Bruce Bartlett, Former Reagan Economic Policy Advisers, Condemn The Romney-Ryan Republican Ticket As Out Of Mainstream!

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The Republican Party loves to invoke Ronald Reagan as their patron saint, even though his record clearly shows he would not be very happy with the trend in the GOP, as even his son Ron Reagan Jr claims.

But beyond Ron Reagan, Jr., two leading economic policy advisers under President Reagan, Bruce Bartlett and David Stockman, have condemned the Republican Party and its candidates and economic policies as out of the mainstream of American politics.

Bartlett says the party has gone insane, dreams of anarchy and the end of government, and has lost all reasonableness.

Stockman has ridiculed the Ryan budget plan, and condemns the idea of Ryan that more defense spending is necessary, and more tax cuts to the wealthy, while the middle class and the poor are victimized. Stockman see the Ryan Plan as not serious, and lacking any common sense!

It is not just Bartlett and Stockman who are critical of the Ryan Plan, and of the turn of events in the Republican Party.

Many past Republican leaders are privately shaking their heads, and see an electoral disaster coming, and we are seeing moderate conservative Republican Senators such as Olympia Snowe of Maine, Kay Bailey Hutchison of Texas, and Richard Lugar of Indiana, all three leaving, with Lugar not by his own choice, bemoaning the turn of events toward unreasonable extremism, and failure to be willing to cross the aisle for support from Democrats.

Former Senate Majority Leader Bill Frist of Tennessee is one of many former Republican leaders who have promoted that states led by GOP Governors stop fighting ObamaCare, and to start exchanges for the uninsured, required under the law by 2014, or else the federal government will do so for those states against their will. Frist, himself a surgeon, says these Republicans leaders are misguided, and that the Obama plan was originally a Republican idea in the mid 1990s., an absolutely true statement!

Former Senator Wyoming Senator Alan Simpson is another Republican who has condemned present Republican attitudes, and many former George H. W. Bush aides quietly have joined the Reagan former advisers in calling for an end to the extremism of the present Republican Party.

But, as in 1964, when we had an ideological election defeat for the GOP with Barry Goldwater, it is clear that there will be a need for a defeat of the ideological environment that Mitt Romney has provoked by selecting ideological Congressman Paul Ryan of Wisconsin as his running mate!

Libertarian Gary Johnson For President: What Effect Might His Candidacy Have In 2012?

Ronald 6 Comments

Former New Mexico Republican Governor Gary Johnson is the candidate of the Libertarian Party for President in 2012.

Johnson has been pretty much ignored, and was only allowed in two GOP Presidential debates during the primary season.

Johnson, however, will be on the ballot in all 50 states, and the question is whether he could be an effective third party candidate, and be a threat to either Barack Obama or Mitt Romney, and even reach the threshold of 15 percent required to be part of the three Presidential debates in September and October, as Ross Perot was able to accomplish in the 1992 Presidential campaign.

Right now, that possibility seems highly unlikely, but who knows what might transpire over the next three months, as disillusioned Americans might start to look at Gary Johnson’s candidacy!

Johnson’s views are a mix which COULD draw support from voters who are unhappy with Obama and Romney.

Among his views are:

Creating a balanced budget by cutting 43 percent of the Medicare and Medicaid budget in one year.
Abolishing the federal income and corporate taxes, and instituting a national sales tax based on consumption, instead.
Opposition to the ObamaCare legislation and the Prescription Drug Plan under George W. Bush.
Desire to withdraw from overseas engagements in Afghanistan and elsewhere, and was opposed to our involvement in Iraq and Libya from the beginning.
Opposition to the Patriot Act, and belief in civil liberties without interference by the American government.
Belief in states rights to deal with issues in their borders.
Opposition to abortion and the death penalty.
Belief in legalizing marijuana use, and the lowering of the drinking age, and believes the war on drugs has failed, and should be abandoned.
Opposition to measures for gun control legislation.
Belief that the Arizona law on illegal immigration was wrong, and would have vetoed it had it passed the legislature in New Mexico.
Support of same sex marriage and gay rights, including in the military.
Opposition to public funding of stem cell research.

This is a mix of issues that has the capacity to draw support , particularly among young people, and disillusioned voters with the major political parties.

So the question remains: Will Gary Johnson have an impact on the election, and if so, in what way?

The guess of the author is that Johnson could actually harm Mitt Romney in certain states, and possibly throw the election in those states to Barack Obama, including the states of Arizona, Idaho, Montana, Utah, Oklahoma, West Virginia, Kentucky, South Carolina, Alabama, Mississippi, and Alaska, all states believed to be RED or Republican!

So Gary Johnson COULD effectively become the Ross Perot of 2012, even without gaining 19 percent of the total national vote, a feat only a wealthy person such as Ross Perot could manage. However, Gary Johnson is said to be worth about $40 million, not a measly amount, to say the least!

The Economy Issue Outweighing Foreign Policy And The Supreme Court: The Ultimate Tragedy For The Nation

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It has often been said that people vote their “pocketbook”, that is, how they are affected economically, including having employment, the inflation rate, the housing situation, and the ability to plan for their children’s college education and their own retirements.

So if the economy is in bad shape, the President or party in office loses the election, and that possibility now rears its “ugly head”, due to the downturn in the stock market this past month, and the slowing of job growth that hints at a stall, if not a reversal, in job growth.

The facts are that all economic conditions are much better than they were when Barack Obama took the oath of office, but since people tend to think of the moment, not of the previous few years, Barack Obama is seen as in danger of being defeated.

The odds are still that he will win re-election, but it is going to be a “nail biter” at best, and that is a true tragedy, considering Obama’s accomplishments in foreign policy, national security, and constitutional issues.

There is no question that, despite Republican propaganda to the contrary, that Barack Obama has accomplished a lot in these areas, but it is being overshadowed by the economic situation, which, no matter who is President, is going to take years to repair after the Great Recession that began under George W. Bush.

If Mitt Romney is elected President, we are not going to see a magical economic recovery! We are, instead, likely going to see austerity that will make things far worse! One can be assured that within six months of taking the oath, Romney’s honeymoon will have ended, and there will be “buyers’s remorse”!

And we will likely see the “necons” take back control of the White House, and decide on a new war with Iran, which will only further damage the deficit and the national debt!

And we will see up to three appointments by President Romney, turning the Supreme Court to the extreme right for a generation, the greatest tragedy of all, as it will set back gays, Hispanics and Latinos, African Americans, women, labor, the environment, and government regulation of Wall Street!

So the economy may be in bad shape, but the country will be in worst shape if Obama loses because of the economy!

“It’s The Economy, Stupid!”: How Obama Is Helped, Despite Economic Slowdown

Ronald 4 Comments

The latest news on the economy is very disconcerting, as we saw the smallest job growth in eleven months, 69,000 jobs, and the unemployment rate inching up to 8.2 percent from 8.1 percent.

According to economists, the Great Recession started in December 2007 and ended in June 2009, and we are now into three years of “economic recovery”. After losing 7 million jobs, we have regained 4.2 million of them in the past three years.

Economic statistics can be used to prove or disprove any point. Obviously, the economy is a big problem, and Republican nominee Mitt Romney banks on that, and keeps on hammering it home, and will do that even more with the new economic figures.

But it is also important to realize that the economic recovery, the slowest since World War II, could also be seen in a different perspective, that the Great Recession has never really ended, and that the Republican opposition, by resisting any jobs legislation in the past year and a half, when they have controlled the House of Representatives, has massively contributed to it.

There is plenty of blame to go around, and Barack Obama and the Democrats must share the blame, but to claim that the GOP has no responsibility is ridiculous, and those who would claim that a President McCain would have had a better economic record must be smoking something that promotes delusions!

And the good aspect of the economic problem is that in seven of the ten “swing states” that the Obama Victory Fund contributes funds from sale of merchandise, the unemployment rate is lower, often substantially lower than in the nation at large.

This includes the following:

Iowa 5.1%
New Hampshire 5.0%
Virginia 5.6%
Wisconsin 6.7%
Ohio 7.4%
Pennsylvania 7.4%
Colorado 7.9%

The unemployment rate is higher in:

Florida 8.7%
North Carolina 9.4%
Nevada 11.7%

It should also be pointed out that in 34 states out of 50, two thirds, the unemployment rate is lower than the national average.

So Mitt Romney using the issue of unemployment in seven of the ten”swing states” is not going to ring as genuine, and if Obama wins those seven states, he can lose Florida, North Carolina, and Nevada, and still win a second term handily!

The Wisdom And Good Sense Of Colin Powell On Gay Marriage And Economic And Foreign Policy

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Former Secretary of State and General Colin Powell is on a book tour, and he has made clear his views on issues that really matter.

For one, he has now endorsed gay marriage, saying he has no problem with it, as he knows gay couples who are bringing up children and creating a stable, loving environment. At the same time, he said he understands how some religious groups disagree, so he makes it clear that if a religious group is against endorsing gay marriage, that is fine, but that gays should be able to marry through civil legal authority.

Regarding foreign policy, Powell said that Mitt Romney is totally wrong in saying that the Russian government is no different than it was under the old Soviet Union during the era of the Cold War. He pointed out that Russia is now about half its size, and is working to provide better economic opportunity to its citizens, and that they have been cooperative over the years on many international issues, while at times disagreeing with American views. But in the course of normal diplomacy among nations, the fact that Russia does not always agree with America is not something to be alarmed over, and that Romney needs to realize the changed times, and be more cautious in making public statements that could undermine future diplomacy if he is President next year.

Powell also expressed the desire for better coordination between President Obama, Congress, and business leaders to help promote economic recovery sooner.

These views on gay marriage, Russian relations, and economic issues demonstrate that Colin Powell remains a very admirable figure, and one could only wish that others who call themselves Republicans would have the sensible views that the former Bush cabinet member has!

Nine Months To Presidential Election, And Obama Is Over 50% Support Against Mitt Romney!

Ronald 1 Comment

With nine months to go to the Presidential Election Of 2012, President Barack Obama has broken a barrier that is very significant.

The President has, for the first time ever in an election poll, the Washington Post–ABC News Poll, hit a majority of registered voters, with 51 percent to 45 for Mitt Romney, his likely GOP opponent. Obama had last been over 50 percent in May in a non election poll, when he was able to accomplish the killing of Osama Bin Laden.

At the same time, among all Americans, Obama has 52 percent to 43 for Romney, and among independents, Obama leads by the razor thin margin of 48 to 47, his first lead.

Obama is ahead of Romney on issues including who would better protect the middle class, handle foreign policy, and fight terrorism.

Romney is seen as out of touch with average Americans, and having not paid his fair share of taxes. But his business experience makes many voters feel that he could handle the economy better, and on job creation, the candidates are seen as equal. Of course, the good jobs report in January helps Obama, and if it continues, could give him a lead over Romney in later polls on economic policy.

The timing looks good for Obama to win the election, unless there is a major economic downturn, or a major foreign policy crisis that he is seen as mishandling.

The Washington Post-Bloomberg GOP Presidential Debate: Romney Still Ahead!

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The Washington Post-Bloomberg GOP Presidential debate tonight in New Hampshire was more of the same: Mitt Romney winning the debate!

Romney continued to look competent, confident, relaxed, smiling, and unruffled. He certainly had a good day, with New Jersey Governor Chris Christie endorsing him, and then sitting in the audience at the Dartmouth College debate in New Hampshire.

Herman Cain was given the seat next to Romney, due to his being second in recent polls, but he was constantly under attack for his 9-9-9 plan, which economists have said will not work, and would particularly harm poor people. It seems as if he probably did not win support based on his responses to the attacks, which seemed lame.

Rick Perry did not improve his standing, which has been in decline, and actually looked confused and uncomfortable when the camera happened to focus on him when he was listening to others speak.

Jon Huntsman, sadly, did not seem to improve his image, despite his great credentials, and it now seems unlikely that he will improve in the polls, unless miraculously he can build up in New Hampshire, the state he is counting on to boost his campaign.

MIchele Bachmann, Ron Paul, Rick Santorum, and Newt Gingrich did nothing spectacular to improve their chances, although Gingrich did gain applause for some of his rhetorical lines!

All of the candidates avoided specifics on the economy, and made many claims that were exaggerated, already being pointed out just a half hour after the debate, which simply focused on that subject. It was easier for them to condemn others and call for firings and blame, and to attack the Federal Reserve Board and Chairman Ben Bernanke.

The candidates made it clear they did not want to raise taxes one cent, and yet did not want to cut defense, something which is impossible in reality if taxes are not raised.

Did any of the candidates give hope that the economy would indeed be better under them than under President Obama? If anyone seriously thinks so, they are delusional!

It will be interesting to see the polls in the next few days, as to who ends up second behind Romney. Will Cain keep his second position, or who will replace him as the “anti Romney”? That is the question that most comes out of this debate, with another one scheduled next week, sponsored by CNN in Nevada, one of the states with the highest rate of unemployment!

America’s Teachers And Education: The Only Way To Long Term Success And Economic Revival!

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As the new school year commences, the state of American education is very depressing!

Budget cuts are forcing the firing of hundreds of thousands of teachers; the growth of very large teacher-student ratios; the elimination of physical education, music, art, theater, sports teams and other so called “electives” which enrich education and mental health and save many young people who might otherwise be totally “lost” from any learning experience; leading to attacks by “Bully Governors” and the Republican state legislatures on the teaching profession; causing growing disrespect by parents and teachers and school boards toward educators; and leading to declining interest in college and university students in entering the profession, because of low pay and poor treatment!

And yet, it is our teachers who have inspired all of us who have succeeded; it is our teachers who have sacrificed some of their own private time and income to provide materials for students; it is our teachers who often replace parents in the sense of giving more attention to students than they receive at home; it is our teachers who remain part of our life experience more than any other professional, including doctors and lawyers and engineers, among others!

Teachers should be treasured, respected, honored, and paid properly so that we can get the “best and the brightest” to make a career in the profession that has a greater impact on us than any other! Remember that not only doctors, lawyers, and engineers are educated and influenced by teachers, but also every other occupation, and also our Presidents, members of Congress, state legislators, Governors, Mayors, and all government employees, and of course, our parents!

Therefore, the proper funding of education and the rebuilding of the infrastructure of schools MUST be a priority for President Obama and Congress to give us hope and economic revival for the future, and help restore America to its greatness!

Death Of Alexander Hamilton On This Day In 1804: What Would He Think Of The Debt Ceiling Crisis?

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On this day, 207 years ago, in 1804, former Secretary of the Treasury Alexander Hamilton was killed in a gun duel with Vice President Aaron Burr!

The tragedy of this bright, intelligent, brilliant man, who made such a dramatic difference in our history, dying at the young age of 47, still reverberates through our nation, as we desperately need a financial genius such as Hamilton to resolve our financial difficulties, where we are on the brink of default of our debt payments by August 2, unless cooler heads prevail and a compromise is reached!

Would Hamilton be proud of the Republican Party refusal to consider any tax adjustments, reforms, or increases, when the tax rate is the lowest it has been since the 1940s, and our greatest prosperity came during the Eisenhower and Kennedy Administrations, when the tax rates were as high as 91 percent under Eisenhower, and were dropped to 70 percent under JFK?

Hamilton, who believed in the power of the federal government, would be appalled at the states rights emphasis reviving today, as if there was no Civil War to resolve that matter!

He would be shocked at the ignorance of Republican leaders and supporters who feel no loyalty to the country, but only to their own selfish, greedy personal desires!

Hamilton revived the American economy 220 years ago when it was in desperate circumstances, making certain that all debts were paid!

It would be ironic if now we saw our nation declare bankruptcy, which will damage the nation and its citizens for generations to come, all over refusal to promote what the definition of politics is, that it is “the art of compromise”!

The Republican Division On Afghanistan Policy: Could It Affect 2012?

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The Republican Party is bitterly divided over foreign policy as the Presidential campaign develops.

Mitt Romney and Jon Huntsman have both called for cutting back US involvement in Afghanistan, and may be, theoretically, to the left of President Obama in this regard.

At the same time, Tim Pawlenty came out today for a hard line view on that war, joining the camp of John McCain and Lindsey Graham in calling such a viewpoint of Romney and Huntsman “isolationist”!

Ron Paul and Michele Bachmann have also sounded “isolationist”, with Paul for sure, and Bachmann speaking in that fashion at the recent Presidential debate in New Hampshire.

Who would have thought that foreign policy would divide the GOP, when many believed it was domestic policy, the budget, taxes, and spending that would dominate?

But, actually, it is the spending for the war in Afghanistan, and the involvement in Libya, which is causing the rift in the party, as House Republicans, led by Speaker John Boehner, are pushing a resolution challenging our involvement in Libya under the War Powers Act, something that McCain and Graham have bitterly denounced, and want modified, which may happen!

So this just complicates the battle for the Republican Presidential nomination, and for the Presidential Election of 2012!