News on the economy

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Friday, March 06, 2009

I know the solution to our economic troubles!!

I think I know how to at least get the country out of debt and we can do it quickly. Think of the several Obama appointees who had to drop out of contention for not paying their taxes (and the Treasury Secretary had the same problem but he was special I guess and did not have to step down). So, out of that small sample of appointees, there was a surprisingly high percentage with tax issues. That percentage probably applies to society in general. Therefore, we do not have to tax the rich, we need to audit them. Just make the rich pay what they are supposed to pay! Former democratic senator Tom Daschle failed to pay $128,000 in taxes for a 3-year period. That's just one person. Think of all the Daschle's that must be out there.

Saturday, January 31, 2009

Dems vs. Reps: Culture of Corruption?

The democrats railed about the culture of corruption in the Bush administration. Is Obama setting up the same? Hope not but I am disturbed by the following:

Tom Dashle having tax problems and now it is learned that he has recently accepted over $200,000 in speaking fees from the health care industry. Does Obama not see this as a potential conflict of interest in Dashle being nominated to be over helath care for the U.S.?

Pres. Obama has made a rule about not hiring lobbyists but apparently breaks that rule in hiring two former lobbyists, Giethner as Treasury Secretary, and William Lynn as deputy defense secretary.

Tim Geithner as Treasurer who also has tax problems. Can we really trust him to do the right thing?

And, while not the White House:

Senator Dodd getting a sweet deal from Countrywide while being chair of the Senate Banking Committee and refusing to relase information that he said he would. Apparently the Senate Ethics Committee is investigating.

House Ways and Means Committee Chair, Charles Rangel, still has his chairmanship despite serious potential ethics violations and an ethics invesitgation.

I'm sure the Republicans have issues too but I want Obama to walk the talk. If he truly wants an ethical, bipartisan administration then he needs to show some leadership.

Sunday, October 26, 2008

McCain vs. Obama: Your wallet

Click here for a Wall Street Journal article that compares McCain's and Obama's policies that effect your personal finances.

Friday, October 17, 2008

McCain vs. Obama: Why I don't want to vote for either

Not sure what to do with my vote. I'm inclined to not vote for either major candidate and here's why:

McCain:
  • What was he thinking in choosing Palin? McCain's best argument over Obama was experience. Palin has less experience on a national level than Obama. That takes McCain's argument away. I wonder about his judgment and her ability to step in as president if needed.
  • I want an articulate president.
  • Negative ads - purposely distorting the truth.
Obama:
  • I was hoping he was the real deal but I think he is looking like a standard politician. Go to the left to get the party's nomination and then switch to the middle for the general election. Lots of earmarks. Shady real estate deal with a convicted felon. Not being truthful about his relationships with others [Once a little controversy comes up about an associate, he distances himself. For example, I believe he knew Rev. Wright for 20 years. I would have respected Obama if he had just said that he didn't agree with the Reverend's extreme positions but that the Reverend and his church do a lot of good. Instead he throws Wright under the bus and claims he didn't know of Wright's views.]
  • Government is not always the solution. I do not want a stronger federal government but Obama leans that way.
  • Too simplistic perhaps in suggesting taxes won't go up for most because he will tax the rich and the corporations. A tax on corporations just gets passed on to us.
  • Negative ads -purposely distorting the truth.

Saturday, October 11, 2008

Obama vs. McCain on the issues

I am pretty tired of all the political fighting. So, let's just get back to the issues. Here is a list of positions each candidate has taken on their official campaign web sites. I have provided the links on each issue:

Issue

Obama

McCain

Roe v. Wade

yes

no

Nuclear power

yes

yes

Drilling for oil

no

yes

Greenhouse

cap-and-trade

yes

yes

Stem cell research

yes

yes/no

Same sex marriage

??

no

Iraq

responsible withdrawal

succeed and leave

Affordable health care

yes

yes

Voluntary public service

yes

yes

Gun control

no

no

Patriot Act

yes

yes









Saturday, October 04, 2008

McCain vs. Obama: Freddie/Fannie

Open Secrets is a web site of the Center for Responsive Politics. Their mission statement says it "is the nation's premier research group tracking money in U.S. politics and its effect on elections and public policy. Nonpartisan, independent and nonprofit, the organization aims to create a more educated voter, an involved citizenry and a more responsive government." Using data they say is released by the FEC, they listed last month the recipients of campaign contributions from Fannie Mae and Freddie Mac for the last 20 years. Top of the list belongs to Senator Dodd at $165,400 (a little conflict of interest here?). Next is Senator Obama at $126,349. McCain is far down the list at $21,550.

As a side note, Fox News has been running a story on their web site about Barney Frank being guilty of confliuct of interest. His lover/partner, Herb moses, was an assistant director of Fannie Mae from 1991 to 1998 while Frank was on the House Banking committee. CNN.com has yet to pick up this story. From the FoxNews.com article:

Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, the year Moses was hired by Fannie, the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.

Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank. Clinton [former president] now blames such Democrats for planting the seeds of today’s economic crisis.

Thursday, October 02, 2008

who caused the economic crisis?

Again FactCheck.org does a nice, balanced approach. It is an easy read and makes a lot of sense. Here's the link: http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html