Why do Congressional Republicans hate America?

Well we know from their “leader” and gas bag Rush Limbaugh that he wants President Obama to fail. Now we find out that Congressional Republicans are being jackasses about the proposed stimulus bill. The question is why? It’s because the 2010 elections are coming up and Republicans think they can get elected again if the attempt to save America is defeated or damaged enough not to work. They want President Obama to fail too. I think it is nothing but petty bullshit from a party that has no idea how to help the struggling economy and were in fact responsible for screwing the hooch in the first place.

The Republican playbook is about standing in opposition, knowing full well that the Democratic Congress is going to pass a stimulus package. Their next step is to go home and sell to what’s left of their constituencies the notion that if we had listened to them, things would be far rosier. As a minority, a control group is unlikely to emerge that can disprove false numbers based on false rhetoric. They can go back and campaign in two years whether or not Obama’s plan creates anywhere close to the number he hopes and tell the world, and claim that their plan would have provided double the number.

The minority role in government should be about balancing the need of their constituencies with real ideas that create a stronger way of finding a solution. In the modern era of politics Rush Limbaugh style, it is all about spewing hate and misinformation in the guise of governing for the good of the people. The very people that the Obama plan will help most, are the very same people that are being preached to by the likes of Limbaugh and his puppets in Congress.

Republicans Clearly Are Willing to Let This Country Collapse if They Think it Will Win Them Elections

And the media – also known as the Villagers – come along for the fire sale because…. well because they are so insulated in their little GOP controlled bubbles, they think spewing discredited GOP talking points is being objective.

The networks like to have the same tired debate format with the same hired analysts debating with “sound and fury” that usually “signifies nothing” to most of America. Last week the media chose to have Republicans like John Boehner, who helped create the situation we’re in, dominate the airwaves, which does nothing but muddy up the discussion on our rapidly failing economy. And which leads Villagers like Chuck Todd to proclaim that Republicans have won the spin wars. It’s a “spending bill” now.

Why is it called a “spending bill”? Because the Villagers have decided that the Republicans have won the PR war over the stimulus package. How does that tired argument help this country in a time of crisis? I know the spin wars play a role when messaging is concerned because Americans get a lot of their news through the TV and the elitists get aroused by all this nonsense, but it’s killing us. Please Stop It. C&L has often documented how the media tries to elect our politicians, (They chose Bush over Gore, How did that work out?) but now they are trying to decide how this very important stimulus package will be dealt with.

Please, where’s the meat? Stop playing games with our lives. Put people on who can explain it coherently. Economics is complicated. Sound bites aren’t enough. Obama was elected to bring change to the economy, not to debate the merits of tax cuts all over again. We had that discussion for 18 months and Obama won. Tax cuts lost. Why is the media ignoring that fact? John McCain ran on tax cuts to save us and he lost. Now he’s telling his supporters that he’s going to vote NO on the stimulus plan and wants them to sign a petition. You lost the election badly. Democrats have solid majorities everywhere you look, but not when it comes to the media that is supposed to inform us and not play “spin wars’ with the country.

Why aren’t there hundreds of economists on my TV explaining the stimulus package?

So how does that go again – the media has a liberal bias???? Excuse me while I laugh.

The fact is 1 or 2% of the proposed plan might be considered “pork” – that is not directly related to stimulus spending – yet that tiny portion of an 800 billion plus bill is getting 90% of the focus along with more talk about a worse plan like more tax cuts.

At least there is one Democrat with a spine to tell the truth and get airtime at the same time:

In the past few days, I’ve heard criticisms that this [stimulus] plan is somehow wanting, and these criticisms echo the very same failed economic theories that led us into this crisis in the first place, the notion that tax cuts alone will solve all our problems, that we can ignore fundamental challenges like energy independence and the high cost of health care, that we can somehow deal with this in a piecemeal fashion and still expect our economy and our country to thrive.

I reject those theories. And so did the American people when they went to the polls in November and voted resoundingly for change.

President Obama

I know we will have a stimulus bill passed but I fear it might be watered down too much because the Dems missed the PR boat.

What is the deal with attacking Rush Limbaugh?

In the past couple of weeks or so I have noticed an up tick in attacks on comedian Rush Limbaugh, especially coming from the White House and Democratic associated groups. I just don’t get it.

Rush is the voice of the Republicans? When has he not been? Did Democrats wake up one day, click on their radio, and say “What the fuc*???? Who is this person?”

But then again I don’t care. Democrats need a different plan.

Maybe it’s pay back for the attacks on the group Move On during their ad controversy in 2007. Or maybe the storm caused by the misuse of comments by General Wesley Clark about John McCain. It could even be a counter to the Swift boating of John Kerry in 2004.

It gets a lot of press because the villagers are looking for ways to give more press coverage to the GOP plus they have thousands of hours to fill on their cable channels and talk radio shows and not enough white young women go missing to keep fill that time. Besides Shark Week is in July.

Rush lies. The guy cherry picks his call ins. He is a bigot. He called Obama and Hillary pretty much every name in the book without losing his job. Probably 90% of his listeners are sheep and will never be reasoned with and they agree with all he says. Rush loves the attention and press coverage because he loves to play the victim. There is nothing new about Rush.

Using the power of the White House and the Democrats to attack the windbag is really like shooting fish in a barrel. And it has the same effect like sending another “strongly worded letter” from the Congress that we often saw during the final years of W’s term instead of Congress growing a pair and exerting some legislative power than comes from being in the majority.

The fact remains that the public voted and the GOP has nothing to offer. Rush has nothing to offer but cries of victim hood.

We have some serious issues to take care of and right now Rush and the GOP are irrelevant. They are a waste of time.

Here is an agenda I would like to see:

1. Ignore Rush Limbaugh – turn off the radio or enforce the Fairness Doctrine and a return to owner responsibility to the local community to provide a wide range of voices. Both items are still in the FCC rules.

2. Smack the GOP upside the head – have the Dem leadership explain “we gave them a chance and now we WILL do it our way…” Every time a Dem gets on a Sunday or Cable talk show and asked why they haven’t been “bi-partisan” they have to say “we gave them a chance and they refused to go along. If they want to participate our door is open but we won’t ask them any more because we don’t have to…” They need to say this EVERY FRICKING TIME when a microphone is shoved in their face. That’s how you frame a discussion.

3. If one of those Sunday or cable shows keep giving all the air time to the GOP refuse to accept an invite to one program as an example. Then hold a press conference outside the studio of that program and point out how one sided the talk shows are considering the reality outside the DC beltway.

4. Replace Senator Harry Reid with someone who will act like a majority leader in the Senate of the party with the majority. Maybe Reid just has a lot of lube left over from 2008?

I know it is hard to adapt to a new power structure but we need the Dems to learn fast and get on the stick or they will lose the chance the 2008 elections gave them.

Why do Wall Street Bonuses cause complaints? It is simple math and common sense

Everyone knows about the bail out of the nation financial institutions after they risked too much on junk assets that failed to deliver. Most people also should know that after getting the tax payer funded bail out some of these same banks, investment houses, and insurance agencies used that money to pay billions of dollars in “bonuses” to CEOs and employees. Even though such pay outs look stupid and in this case they are, it isn’t because the workers may not deserve it but it is simple math.

Some business experts have tried to cast bonuses as commissions earned for sales. But again if there are no sales how can you justify a bonus. It is still simple math. If you have red ink on the books then you shouldn’t have any money to pay for bonuses.

The bigger question might be why there will be bonuses at all.

After all, even if bonuses fall 50 percent, that hardly matches the drop in profits and revenues plaguing Wall Street. At Lehman Brothers, the employees still left are expected to receive $3.5 billion in bonuses from the firm’s new owners, Barclays Capital and Nomura.

In a system where huge profits bring huge rewards and huge losses bring, well, smaller rewards, can you blame Wall Streeters for taking big risks in hopes of getting the brass ring?

Take a look at what happened to banks in 2007: Citigroup, for example, reported a profit of $3.6 billion, down 83 percent from the previous year. Many other firms saw similar declines. Yet bonuses across Wall Street declined only 4.7 percent from the year before. The payout was $33.2 billion, according to DiNapoli.

Open season on the Wall Street bonus

That’s why I get upset about Wall Street people like John Thain and others who still pay out bonus out of whack from reality.

I’ve been taught that bonuses are tied to the performance of myself and the company I work for, and all the places I’ve worked have done that it that way.

At my current job, there are certain benchmarks I have to meet in order to qualify for a monthly bonus and the size is set based on how I did, above that initial bar. The current maximum is 12% of my base pay if I hit 100% of all the benchmarks.

Our managers, on the other hand, get a bonus based on how all of us do in reaching certain goals for the company for that month.

At another job I worked, which was a retail company, bonuses were tied to the “Earnings Before Taxes” of the company. The amount you got depended on the percentage your department contributed to the EBT. At that job, I worked long enough to get one bonus and it was $600 after taxes. I still have the TV I bought with it.

The common wisdom is if you have lost money there should be no bonuses paid out. That’s why people are pissed off about Wall Street bonuses.

Shocker! US House Republicans vote against stimulus bill

Just like knowing an episode of the TV show Three’s Company would involve a misunderstanding of some kind, Republicans in the US House voted against the $825 billion stimulus bill put forward by President Obama and the Democrats. This was even after Obama wined and dined them to join the cool kids hoping to save America. Instead they crapped in the leftovers and kicked the dog. Yes, classy.

Of course those of us outside the beltway bubble saw it coming especially after seeing video of House Minority Leader John Boehner giving his views on the plan:

What? Couldn’t understand him? Does it really matter?

The Democrats have the majority and the White House and they tried to bring the GOP along for the ride. They even threw some bones to them but again they crapped in the leftovers and kicked the dog.

Tax Cuts equals “Bad Faith Economics”

Back in my college days, I had a friend who I would debate various topics with on those late night study sessions in the study lounge. He use to drive me crazy because he would always take the opposite position and would never yield, compromise, or even acknowledge any of my points. No matter what evidence I provided he would refuse to accept it. These debates wouldn’t go anywhere because of his stubbornness but he enjoyed them. He would walk around for a few days with a smugness believing he bested me. That’s how it seems Congressional Republicans are acting over the proposed stimulus plan.

The GOP has always been factually challenged but is always a good read when someone points it out in a high profile publication like the New York Times.

Paul Krugman, professor of economics and international affairs at Princeton University and who won the 2008 Nobel Memorial Prize in Economic Sciences, demolishes the current GOP talking points against the proposed stimulus plan. Let me stress. Paul Krugman is an expert in economics. It his job.

In his January 26th column he states:

As the debate over President Obama’s economic stimulus plan gets under way, one thing is certain: many of the plan’s opponents aren’t arguing in good faith. Conservatives really, really don’t want to see a second New Deal, and they certainly don’t want to see government activism vindicated. So they are reaching for any stick they can find with which to beat proposals for increased government spending.

Bad Faith Economics

He then went through the talking points and shreds them:

John Boehner, the House minority leader, calling the plan to “spend hundreds of millions of dollars on contraceptives” is simply a cheap shot and easily dismissed. The fact is the proposal is an expansion in the number of states that can use Medicaid money, with a federal match, to help low-income women prevent unwanted pregnancies, which would save the states $400 million.

The Obama plan will cost $275,000 per job created? Nope. Closer to $100,000 and lower if you take into account the tax income from those new jobs.

It’s always better to cut taxes than to increase government spending because taxpayers should decide how to spend their money? Krugman notes that a large percentage of any tax cut would be saved so spending on things like infrastructure will get more bang for the bucks. Increased tax revenue and increased spending in the private sector by the people with those created jobs will amplify the results. As an aside, the last tax cut Bush gave, when all of us got $600 or more in a check only created an infinitesimal ripple in the economy.

We should favor monetary policy over fiscal policy? Nope. Because interest rates are effectively zero right now. There are no more monetary tricks to pull out.

Krugman closes with a even more true fact facing the GOP. Obama won the election. The public has spoken.

We need better roads, bridges that don’t fall down, and school buildings that don’t make students sick. The LAST thing we need is a tax cut.