An Article to Remember

Special Editors Note: First, my personal condolences to the Kennedy family. I also celebrate the life and contributions of Edward "Teddy" Kennedy. We will miss you Teddy.

Second, I would like to encourage all of you to please read the following article (The Debt is a Democratic Wake-up Call), even though it's a long one. I know I should be more succinct, but sometimes it takes time to make a good case and provide enough evidence to support it.

Historical facts are necessary to make the right decisions for our future. If you don't have time to read it now, click on the title to open a separate window, print it and read it at your leisure. I also encourage any publishers/bloggers to reprint it if they wish.

We Americans are at an important crossroads in our political life. It's important for us to know the truth so that we can make the right decisions.


The Debt is a Democratic Wake-up Call

Hello Bloggers! The national debt is a Democratic wake up call, but not the way the Republicans think. I want to answer their criticism about government spending in a more logical way. It all comes down to priorities. Not theirs, but ours.

We all got depressed this week when the White House and the CBO revised debt projections upwards showing that unless things change (more growth and revenues) we could be looking at huge increases in the percentage of the debt compared to the GDP - from 40% today to as high as 68% by 2019.

To put that into perspective, federal debt hit 109% of GDP at the end of World War II, and hit a second peak of 49% at the end of the Reagan-Bush years. Another way to look at it is that most European countries, and the majority of developing countries, have hit substantially higher debt levels without a crisis. So don't get too depressed by the news. We will survive.

On a side note, it's important to point out that most of the damage was done by the Bush Administration and the GOP, but instead of recriminations this article is about priorities.

It's Not ABout the Debt, It's About Our Priorities

It's true, it all comes down to spending priorities. There is enough money to do everything we need to do, if we're brave enough to make the right spending decisions. One good example, we have to decide to tell the Republicans they can't have all the money they want for defense. Other countries need to share some of that burden. We spend more on defense than almost every other major military power combined. It's too high a price considering the debt.

I would also like to point out to our Republican friends - screaming bloody murder at town halls about how we can't afford anything - that health care reform is just as important to us as military spending is to you. I know Republicans don't always seem to understand the principle, but we need to find a compromise. Politics should be give and take, not a win-win for the GOP.

We have a right to care about and spend money on health care. We have a right to talk about spending money on clean energy and better infrastructure. We cannot allow the Republicans to use the debt like a sledge hammer, smashing our desires for a better world. They will tear us apart if we allow them. We must stand up against their intimidation.

We have a right to talk about helping ourselves and our children for a change. We have a right to say NO! to wasteful war and corporate welfare. We Democrats represent more of the electorate, and the only reason that high debt should concern us is that we now have to make some important decisions - like a family - about where to spend our money.

Being fiscally responsible is important, but priorities are even more important. We have to decide what kind of a society we want to live in. We also have to answer now before it's too late. That's what we need to discuss here today.

Exposing the Republican Debt Scam

First of all let's talk turkey before we talk priorities. Let's debunk the popular myth that the Republicans are the "fiscally responsible party." Aside from their passion for personal wealth their actions while in government do not match their words. History proves it. They are the original "smoke and mirrors" party.

In terms of "political economics," after World War II the overwhelming majority (over 90%) of the overall federal debt (all money owed) was created by a Reagan or a Bush. Bush Jr. is also responsible for a large percentage of today's annual deficit (overspending within a fiscal year) that President Obama now shares.

Most important, all the debt spending Obama is forced to do today is a direct result of Bush and/or GOP economic leadership and incompetence.

I don't understand why my Republican friends can't do their homework and figure that out. It's pretty cut and dry. The history of annual spending (and who spent it) is available from multiple sources, but I recommend the easy-to-read gross national debt section on zFact.com.

Gross National Debt Chart

So, do the homework and figure it out! At least look at the chart (source: Government Statistics). It's clear the Democrats do not deserve a bad fiscal reputation. The Democrats under Clinton even reduced the overall federal debt (not just the annual deficit) for the first time since Carter. If you don't believe me, look it all up yourself.

The real irony is that Reagan ran in 1979 on a platform to lower the debt. Incredibly, the debt was less than $800 billion at the time. Reagan, of course, exploded the debt. Sadly, later Republicans like George W. took it much further.

What Party is Better for Our Future?
The Great American Santa

Once again, it's all about priorities. WE THE PEOPLE have to decide what kind of future we want using the ballot box. Democrats historically spend on domestic and "social" programs, while the Republicans are known more for their love of military spending - for the record, that love of military spending doesn't include money for veterans.

Democrats focus on regulating markets and creating jobs, while Republicans push for so-called "free market" wealth creation and quick gains. Unfortunately for the GOP, only one way is the right way.

The consequences wrought by Republicans and their reckless economic experiments are now famous. The entire world has paid a high price for their adventures, especially in 1929 and 2008. Both crashes were disastrous, and sadly could have been avoided.

The way Republicans spend while cutting taxes, coupled with their inability to cut federal "social" programs for their own political reasons (they would lose elections), is why we are in debt today. Simply put, they pass all of today's costs to tomorrow's children.

Republicans are also famous for getting the government to pay large sums (billions or trillions) when large financial banks and corporations go bust. The Democrats are also responsible, since neither party is big on anti-trust, they have to pay up. Unfortunately, the term "too big to fail" is now part of our modern day lexicon.

Other new expressions include "welfare for the wealthy," and "privatizing the profits, socializing the losses." No matter how you spin it, it's government socialism, or give-aways. It's certainly not a free market.

It's clear to most of us now - after the Bush crash - the GOP lacks understanding when it comes to the role of government. They only want it involved if things go wrong. They don't want it anywhere around when they're making money - in their so-called free market.

So, you can now see that Republicans have tried to play the "Great American Santa" leaving us our "social" programs (despite their majorities) while at the same time cutting our taxes. The bill has now been left to future generations to pay. It's now obvious they never really had the courage of their convictions, or their so-called "conservative" principles.

It's Time to Rediscover Our Democratic Roots
It's Time to Believe in Ourselves Again

You see, we Democrats have always been true fiscal conservatives. We were in power for decades after World War II and did a great job of growing the economy while paying down the massive debt left after the war. Don't let the Republicans cast us as the bad guys. History shows us they are the bad guys.

I was a big supporter of Clinton when he lowered the debt and created more jobs than ever before in the history of the nation. That is something we should be proud of. Let's stop allowing the Republicans to question our credentials. Just look hard, we have excellent credentials.

So, let's use our great experience and record of success to make the right decisions again. Let's work on reforming what is broken, and cut back where we think we're spending too much money. Let's do it together like one big American family.

What Should We Do Next?

First of all, it's time to hold a funeral for "Reaganomics." It's time WE THE PEOPLE (Republicans too) admit that growth does not trickle-down to average working Americans, no matter how hard you would like it to.

That means we need to stop talking about lowering taxes on the rich. For one thing the debt is too high; it would be insane. It's true well-heeled members of the GOP supported by most in our corporate media constantly argue for their taxes to be lowered, and I truly believe most of them somehow convince themselves it will help, but unfortunately all credible evidence shows the opposite is true.

If anything, like Obama says taxes must be increased on the rich. The top tax rate in the recent past - until Reagan - was between 60 - 90%. There is plenty of room for increases.

The rich tend to hoard, or create wealth without creating jobs. The stock market and real estate is great, but it's not enough to employ the millions of low-income Americans who are suffering today. Real investment is when people invest to create jobs and recurring wealth. It's not about a fast buck or a get rich quick scam. Lending must be encouraged to create jobs. We need to focus once again on steady growth, and leave the high flying GOP experiments behind us. It's what we're best at.

Second, the Republicans must be held to account. In other words, they can no longer be allowed to play the role of the "Great American Santa." If you the electorate vote them back into power, then you must force them to cut our federal "social" programs or don't bother to vote them back at all. Allowing them to spend while cutting taxes, and not our expensive "social" programs, is both irresponsible and cruel to future generations. It's time the Republicans practice what they preach.

The way I see it, you have a choice between the GOP, low taxes and no social programs, or the Democrats and a more moral, civilized society.

Let me be clear, if the majority of Americans choose to vote away Social Security, Medicare, the Veterans Administration, Medicaid and other federal programs, then I will live with it. I won't like to see Americans die in a world where they don't have to (remember, it's all about spending priorities), but I agree to live with those choices. At least the Republicans will be honest for a change.

I could go on and on, but I won't. Just remember, both parties spend, but ask yourself which party has been more responsible? The answer is clearly the Democrats. Sharing military responsibilities with the world, while spending on programs like health care and social security to help average Americans live with dignity, coupled with reasonable taxation to keeps future generations solvent, is the way to go. Those are good spending priorities for the future.

We cannot continue to spend so much. Republicans want America strong, but at too high a price. We need to change direction, and it requires decisive action at the ballot box.

I wish I could convince my Republican friends of all these truths, but they never seem to listen long enough to hear anything. I only wish they knew the truth. In the end it's everybody's responsibility to learn the truth. Ignorance is not bliss. It could mean bankruptcy, and a bleak American future.

Tuesday/Wednesday/Thursday's Political Rant and Rave - Michael

Michael's Economics 101

Even though it's more complicated, just remember the two main opposition theories. Supply-side or "Reaganomics" (incentives to individuals to produce goods and services without limits basically) and the the more traditional Keynesian or "Obamanomics" (government can help create/regulate markets and spur growth, especially job growth). Those two sum up most of the debate.

Remember, the worst human influence on modern economic theory was Milton Friedman. He influenced every Republican alive today. His free theories about minimal regulation, low taxes and privatization thrilled Ronald Reagan and George Bush and have led to chaos in the marketplace today. Incredibly, Republicans still don't see the era of his ways, despite all the turmoil.

President Obama appreciates the more traditional "Institutional Economics" made famous by great thinkers like John Kenneth Galbraith. It was in vogue during the time of Franklin Roosevelt and the New Deal. Just like Democrats today, they acknowledged the positive role institutions and government can play in shaping economic behavior and success.

Last but not least, it's important to remember that - at least in academic circles - recent Republican-led experiments in supply-side economics by Reagan and Bush were a complete disaster. From what I read, most educators don't even teach the theories as practical applications in the real world anymore. They are completely discredited except in a few radical right-wing circles and institutions.

Just remember, we the voters need to end the Republican "School of Economic Chaos." We all need to reject the next great Republican rip-off.

Republican Lies May Doom Us All

Good Morning - Senate Republicans and "centrists" appear to have been successful at ripping the heart out of the stimulus bill, which will probably render it mostly ineffective. It's been both incredible and depressing to watch!

The Republican rank and file have fallen for their party's ruse about reduced government spending, while the GOP leadership looks out for their shadow interests few understand. The pathetic Senator Reid needs to fix it, or the outcome could be very bad news for America.

After watching recent events unfold it's now clear that I was wrong. I thought the Republicans were just stubbornly clinging to discredited ideas about how to spur economic growth, to create jobs their way, but I've changed my mind. I now believe they don't give a damn about creating good jobs.

After watching the debate on the Senate floor, with Democrats giving amazing speeches supported by leading economists on both sides of the aisle, it's clear nothing will convince GOP leaders. The opposition's floor comments were often outrageous, mostly unhelpful, and without alternatives. They obviously have another agenda. It's still unclear what it is, but I think they're up to no good.

They're deaf about the "change" the American people voted for. They are willing to destroy the ONE PLAN we have to create a solution for their own mysterious, selfish, power-hungry reasons. They seem unconcerned about the American economy, suggesting we wait for better solutions. They are spewing lies, muddying the waters, and playing the WORST POLITICS imaginable with people's lives and livelihoods.

The GOP today is surreal. Their leadership lies to control the message. Their constituents believe them. We know they're lying about the spending, but their true economic and political goals remain unclear. If I had to guess, it probably has something to do with keeping CONTROL of economic power. Government intervention is probably a threat to their interests. That's my best guess. What's yours?

Call me a crazy conspiracy theorist all you want, but the evidence seems clear. I'll bet the GOP shadow government, or oligarchy, cares about the American economy IF it serves their interests. IF it threatens that wealth and power, it must be sacrificed and renewed.

So, the Republicans have succeeded once again at herding their sheep and attracting a few moronic centrists into their fold. The damage this time will be significant. The stimulus bill Reid has negotiated will not be enough. Forget Reid, unless President Obama and Nancy Pelosi can convince the centrists in the Senate - like Olympia Snowe (R-ME) - to accept more stimulus than all is lost.

The watered-down version will not do the job - it will NOT CREATE ENOUGH JOBS to restart the economy. Unless we can stop the Republicans and their centrist allies, than America is doomed. The economy will begin to spiral down further, and as more jobs are lost the housing market will crumble more. The government will lose its ability to borrow from the credit markets, and then the worst will happen.

The final Republican bubble will burst. The treasury will lose its ability to raise money and the American economy will CRASH! The Chinese and the rest of the world holding over $10 trillion in American government paper will have only one course of action: buy America piece by piece.

Unless President Obama and the Democrats can reverse the ship of state on its collision course with disaster, then we - AVERAGE AMERICANS - are doomed to CRASH! Most Americans will suffer, and the middle-class will be destroyed for good. We will be powerless. It will make the first Great Depression look like a trial run. President Obama needs the support FDR fought so well to attract, or we're all in trouble.

The Republicans will be fine. Remember, the rich always get richer. They'll make their money anyway possible - as they always do - while America slowly heals over decades from its deep Republican wound. Once crashed, the Republicans will probably return to power, and do what they've always wanted to do - enact the "Anti-New Deal!"

The Anti-New Deal will be sold to "get us out of debt." It's ironic how the "party of debt" will be the ones selling to get us out of debt. They will do it by destroying everything good about the nation. In the best libertarian traditions they'll destroy everything FDR created. The REPUBLICAN FINAL SOLUTION will finally be enacted.

It's not concentration camps, but it will kill people. Social security, medicare, medicaid, unemployment, and the rest of the 20th century entitlement programs will be eliminated. Government will suffer its final Republican castration, and few government programs will be left to serve average Americans.

The result will be a dog eat dog nation again. Charity will be left to the poverty stricken private sector, and millions of people will die. Only the strongest will survive. They are trying to return us to that very dark and ugly world, and they may succeed if we can't stop them. They got us to this point by spending us into oblivion, and now they're trying to say we can't be allowed to fix it.

I'm sorry to be so negative, but despite our "glass half full" national personality, everything described here is possible. Our only hope is that ordinary Americans who happen to be Republicans figure it out before it's too late, and force their leaders to act in the best interest of the nation and its people.

Monday's Dismal Political Rant #1 - Michael

The Lies and Debt of Republicanism

Good Morning! I've been listening to the Republicans rant for weeks now about how President Obama and the Democrats want to pass a huge "spending bill" filled with pork. They've been out there screaming to everybody and anybody about how they're the party of fiscal responsibility, and how the Democrats are socialists who wish to "tax and spend" America into oblivion.

All I can say is that whoever believes their BS is about as dumb as a box of rocks, because none of it holds up to scrutiny. It's a fat load of Rush Limbaugh generated CRAP!

I read the legislation and determined that aside from a few minor provisions where I disagree with the leadership, the bill is designed to create new markets and good jobs. There is no doubt, IT'S A JOB'S BILL. It is a good bill that is needed to spur the economy.

The ranting is nothing but Republican Party politics designed to distract the American people. I've grown more cynical with time, and now believe most Republicans care less about the middle-class. Most only care about lower taxes. Unfortunately, and they know it based on their own track record, lower taxes do not necessarily create good jobs, and without a doubt lower taxes CREATE MORE DEBT!

So, what about the debt? Let's ask ourselves a critical question: who actually created the bulk of the national debt? WOW, are you aware THE REPUBLICANS CREATED MOST OF THE NATIONAL DEBT! It's true, the party that claims to be fiscally responsible is responsible for the vast majority of the national debt! How else do you think they keep those taxes low? It all started when the Republicans took power under Reagan in the eighties complaining about Carter's poor economic performance (which was unfortunately true) and the national debt.

"For decades we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. You and I, as individuals, can, by borrowing, live beyond our means, but only for a limited period of time. Why, then, should we think that collectively, as a nation, we're not bound by that same limitation? We must act today in order to preserve tomorrow. And let there be no misunderstanding: We are going to begin to act, beginning today." President Reagan's inaugural, January 20, 1981.

WOW! Reagan had it right way back in 1981! No wonder so many people supported him. Unfortunately, he lied like most Republicans. He got into office and proceeded to spend MORE THAN ANY PRESIDENT (except the Bush boys) and the debt mushroomed going from less than a trillion in 1980 to around $2.6 trillion when he left office. It's ironic how the Republicans still praise the Reagan tax cuts and Reagan's embrace of "supply-side" economics. The praise is undeserved. It's also stunning the way they always ignore his debt spending.

Most of the problems we face today are a result of that Republican fantasy known today as the "Reagan revolution." It turns out the American president credited for reigniting American patriotism burned down a lot of things in the process.

The debt continued to skyrocket for 12 years through Bush senior. Clinton reversed it at a peak of 67% (of GDP). Of course, as we all know now, our favorite frat boy moron, Bush junior, crossed that line again on September 22nd and hit 69% on September 30th last year. What a wonderful parting gift he left us. That's the highest it's been since 1955, and that was just after World War II ended and the country was heavy with war bond debt. See the chart below to get a clearer picture.

It is a FACT that all presidents since Truman have reduced the national debt EXCEPT for the Republican Party's favorite fiscal conservatives, President REAGAN and THE BUSH BOYS. They are responsible for $10 TRILLION IN DEBT, adding an additional TRILLION this past year alone to top it off near $11 TRILLION!

Why are Democrats listening to these idiots! THEY HAVE NO CREDIBILITY! Their track record is the WORST IN US HISTORY! The chart below is a good illustration of just how much damage Republicans have done since the end of World War II. If you want to see just how bad it is in clock form, I recommend a visit to the debt clock.


Face it, Republicans love to lie. They like to act as though they're the party of fiscal responsibility, but the facts show that they're the PARTY OF DEBT. The Democrats need to get smarter and start talking about it more. They call us the "tax and spend" party, so let's call them the "party of debt." GET CREATIVE PEOPLE! Democrats need to discredit the Republicans using FACTS so that people stop listening to them.

Yes, the Republicans get me angry. They are disingenuous. They're all smoke and mirrors. They're screaming "socialism" and "communism" (that's Glen Beck's current rant) to rally their troops against the "job's bill," and no Democrat is bothering to point out their hypocrisy. It's a fact that George Bush pushed through tens of BILLIONS on "socialism" spending after we were attacked on 9/11, and the Democratic Party - being the true patriotic party - supported Republican efforts to jump start the economy. Nobody's talking about how that bipartisan legislation helped the economy recover.

The Democrats keep missing good opportunities to make the Republicans look like the narrow-minded screw-ups they are today. The Democrats also supported the banking bailout. It turned into another Bush fiasco, but still the Democrats tried to help the economy. Where's their support of us? It's clear they have two minds, and neither represents the best interest of the nation.

Another example of their deceit was mentioned earlier; Republicans LOVE TAX CUTS. Unfortunately, they don't like to talk about how tax cuts create debt. It's proven, in reality, TAX CUTS ARE DEBT MACHINES! Again, the GOP is FULL OF BS! It's not just me, it's clear that younger people in America are starting to get angry. They voted for Obama en masse because many feel cheated by the older "debt happy" generations. Their future is being mortgaged by so-called conservatives hell bent on low taxes. They're being cheated. It's ironic that "family value" Republicans appear to be some of the worst child abusers in history, at least in economic terms.

Republicans are out-of-touch and out-of-control. Their policies are discredited yet they continue to push for them. The Democrats need to stand up for what is right. The Democrats need to fight back hard and start talking to the Republicans like the ignorant, spoiled brats they seem to be. Let's be the party of adults, and force the party of childish rants to stand in the corner until we fix what they broke.

Thursday's Political Rant #1 - Michael