American Economy

17 Democratic Senators Have Learned Nothing From Great Recession, And Are To Be Condemned For Joining Republicans To Cut Back Banking Reforms

In 2008-2009, we saw the collapse of the American economy, with the biggest banks and Wall Street firms guilty of causing it.

None of those banks or Wall Street firms paid a price for their illegal, unethical activities, which destroyed the economy in a manner unseen since the Great Depression of the 1930s.

Under Barack Obama, the Dodd-Frank Law was passed to insure accountability of banks and Wall Street, so that what happened a decade ago would never happen again.

But now, under a Republican Congress, the action to destroy the Dodd_Frank Law is occurring, and has been assisted by 17 Democratic Senators, and only with at least 10 of them, could such action to eliminate Dodd-Frank have moved forward.

It is shocking to see 17 of the 49 Democrats and Independents in the Senate become turncoats who effectively joined in this evil act, and all 17 need to be called out and denounced.

The problem is too many politicians gain campaign contributions from the big banks and Wall Street, so it compromises their ability to represent their states in a proper manner.

The problem is that if these Democrats are repudiated, it would only aid Republicans in possibly gaining their seats, so the issue is that it is preferable to have Democrats who will support the party on many issues, even if not on this issue.

Liberals and progressives will argue that they should be “primaried”, but the reality is that would only help promote more Republican senators, so we are in an area that could be described as “between the devil and the deep blue sea”!

But we must at least list these 17 Senators, so we are all aware of their “treason”:

Michael Bennet of Colorado
Tom Carper of Delaware
Chris Coons of Delaware
Joe Donnelly of Indiana
Maggie Hassan of New Hampshire
Heidi Heitkamp of North Dakota
Doug Jones of Alabama
Tim Kaine of Virginia
Angus King of Maine (Independent)
Joe Manchin of West Virginia
Claire McCaskill of Missouri
Bill Nelson of Florida
Gary Peters of Michigan
Jeanne Shaheen of New Hampshire
Debbie Stabenow of Michigan
Jon Tester of Montana
Mark Warner of Virginia

Ten of these 17 Senators face an election in 2018—Carper, Donnelly, Heitkamp, Kaine, King, Manchin, McCaskill, Nelson, Stabenow, and Tester.

Of these 10, only Carper, Kaine and King are in states that went to the Democrats. The other seven were Republican states, and makes the task of keeping their seats ever more difficult.

Of the 17 Senators, only 8 of them, those from Colorado, Delaware (2), New Hampshire (2), Virginia (2), and Maine came from states carried by Hillary Clinton in 2016.

So, sadly, we do not have the privilege and ability to call for the defeat of the ten who are running this year, but even true of the seven who are not running, as they are still better than Republicans to hold the seats.

Otherwise, the Democrats will lose all chance of ever gaining a majority, if they stick to an extreme progressive view of who is acceptable as a Democratic member of the US Senate.

However, one point should be made clear, that none of this list above should ever be considered seriously for President, with the reality that only the two Virginia Senators, Tim Kaine and Mark Warner, are even talked about at all as potential nominees.

Tim Kaine may have run for Vice President with Hillary Clinton in 2016, but his support of repeal of the Dodd Frank Law should disqualify him and Warner for future Presidential consideration.

Right Wing Conspiratorial Hysteria Over Barack Obama Has Been Proved Totally Wrong!

We are now entering the eighth and last year of the Barack Obama Presidency, with a new President to be inaugurated on January 20, 2017.

It is in many ways amazing how Obama has survived unprecedented verbal attacks for seven years, and the most threats to his life of any President since Abraham Lincoln.

His Republican opposition has been unrelenting in the promotion of right wing conspiratorial hysteria for the past seven years, and has had no shame in wishing upon him all of the most terrible tragedies and failures, rather than willingness to unite for the public good!

And right wing radio and Fox News Channel has been totally despicable in encouraging right wing lunatics, and inciting them to create a constant stress and threat on the 44th President of the United States.  They would not be happy until he was either forced from office or dead from an assassin, and there is still clear concern that our President faces endless threats at a time when the Secret Service has been found wanting, and in need of drastic updating, reform, and new leadership!

For any American to have believed the conspiracy theories and gloom and doom loaded on Barack Obama, it is instructive to look back at some of what has been predicted and has NOT happened!

  1. Barack Obama will cancel the elections of 2016 and rule by martial law, and put his enemies into FEMA camps.  This is totally laughable!
  2. Barack Obama will take everyone’s guns away.  Yeh, sure, instead we have more guns and gun ownership than ever before, and more deaths from guns than automobile accidents!
  3. Barack Obama will destroy the American economy, with the highest gas prices ever, dramatic increase in unemployment and inflation, the collapse of the stock market, and the promotion of the end of the capitalist system. Instead we have 5 percent unemployment, doubling of the stock market, low inflation, and capitalism is alive and well, thank you!
  4. Barack Obama is a Muslim who will advance the cause of the Muslim jihadists, and allow the downfall of Christianity in America. Yeh, sure, instead we have more Muslims killed by Obama’s drone usage than under George W. Bush, and Osama bin Laden was killed!
  5. Barack Obama will destroy the oil and coal industries in his  mad quest to promote the “phony” issue of climate change. Yeh, sure, the energy industries are making record profits!
  6. Barack Obama will destroy heterosexual America by his promotion of gay rights, same sex marriage, and transgender rights.  Laughable, but heterosexual marriage divorces are up, and more Americans have broken marriages than the total number of same sex marriages!
  7. Barack Obama will take away the civil liberties and civil rights of Americans through government snooping on the private lives of Americans. Yeh, sure, as the NSA is limited in its ability to fight terrorism by government restrictions put upon them!
  8. Barack Obama will undermine law and order in this country through promotion of the agenda of extremist African Americans demands.  Yeh, sure, the idea that Obama is a black radical because he speaks up about growing number of police killings of unarmed black men is laughable!
  9. Barack Obama will destroy the nation through open borders immigration of people from Mexico and Central America.  Yeh, sure, as Obama has had more deportations of illegal immigrants than under George W. Bush!
  10. Barack Obama will undermine the nation of Israel and refuse to support the security of that nation.  Yeh, sure, as Obama provided the IRON DOME system and has given Israel more foreign aid than any President of the United States before him!
  11. Barack Obama will promote the expansion and aggression of the Russians under Vladimir Putin.  Yeh, sure that is why Putin embraces Donald Trump, and has actually cooperated with the American government on Middle East issues, and knows NATO is working to protect Ukraine, due to the tough stand of Obama!
  12. Barack Obama will promote a one world government led by the United Nations.  This is totally ridiculous, not even worth commenting on, as totally delusional!

It is time for the ill informed and uneducated population of America to stop their ignorance, learn the truth, and start to show appreciation of the historic nature of Barack Obama in the Presidency, and to wish him well in his final year in the White House.  His ranking in history for his accomplishments, his dignity, his class, his compassion, his common sense, and his courage in the face of adversity will make him appreciated in the future in a way appropriate for his performance in office!

Barack Obama After Six Years In The Presidency: On Way To Top Ten Of Our 43 Presidents!

As 2014 ends, Barack Obama is finishing his sixth year in the Presidency, and will officially mark that milestone on January 20, when he delivers the State of the Union Address to a joint session of Congress, controlled by the Republican Party, which has stood in his way, has been a constant barrier to anything Obama proposes, and hates the ground he walks on. Conservative talk radio and Fox News Channel, and conservative think tanks, would not be happy no matter what Barack Obama does or says. And there is a strong level of venal hate, very dangerous, that puts the President in the cross hairs of a potential threat to his life on a daily basis.

But despite all that, President Barack Obama has a record in office to be proud of, not perfect in any sense, but still outstanding enough to have a chance to end up in the top ten of our Presidents, if not immediately after leaving the White House, over a generation or more as time passes, and passions calm down, and particularly after Obama has passed away, an opportune time to reconsider the legacy of any President, particularly one so much maligned in his time!

The list of Obama accomplishments is endless, but key points include:

The adoption of ObamaCare, which will be seen as transformative over time, as much as Social Security and Medicare.

The successful tracking down and elimination of Osama Bin Laden, the perpetrator of September 11, 2001.

The ending of US military engagement in both Iraq and Afghanistan, two wars that were unwise to conduct in the first place.

The revival of the American economy, with 11 million jobs created; the unemployment rate below six percent; the greatest economic expansion since the Bill Clinton Presidency; the smallest increase in the deficit for the past decade; the 150 percent increase in the stock market; the lowest gas prices in five years; and the revival of the domestic auto industry.

The appointment of two Supreme Court Justices–Sonia Sotomayor and Elena Kagan, and some exceptional cabinet appointments, plus the best Vice President in American history, Joe Biden.

The promotion of gay rights and gay marriage, insuring the end of discrimination based upon sexual orientation.

The advancement of environmental concerns, including dealing with global warming and climate change.

The promotion of a tolerant attitude toward immigration reform.

The establishment of a new relationship with Cuba after 50 years of a failed policy.

The promotion of labor rights in a time when labor has been under attack.

The protection of women’s rights against right wing attempts to undermine the advancement of women in all spheres of American life.

The avoidance of engagement in new wars, which the right wing is always itching for.

The courage of Obama to go after terrorists in a way that limits US military involvement, but effectively has killed more terrorists than George W. Bush.

President Barack Obama was the the right person for his time, and will be seen as that in history. He has met racist attacks by refusing to show anger, but instead class and dignity! He has admitted failure, but also has confidence in the morality of his cause. Considering the extreme opposition he has faced, what he has accomplished is miraculous beyond belief.

Despite having presided over the rapid decline of Democratic majorities in both houses of Congress by vicious attacks and massive spending by right wing billionaires, he has made it clear that he will use executive orders to do what he feels must be done in the last two years of his Presidency. The right wing Supreme Court, with its Citizens United Case in 2010, and the lackadaisical attitude on voting of many Democratic constituent groups, has contributed to this decline in Democratic Party strength, but Obama has reacted by making clear that it will not deter his plans to make the nation a place better for the middle class and the poor.

President Barack Obama will NOT allow the prevention of further improvement of the New Deal and Great Society, and he is much to be admired, as a credit to the office he holds!

The Tea Party Movement At Five Years: What Has It Accomplished?

The Tea Party Movement reached five years of age in the last few days, and the question is what has been accomplished?

The Tea Party Movement has led to the following:

Complete stalemate and gridlock in both houses of Congress.

The weakening of the power of the Speaker of the House John Boehner to the level it was in 1910 after the “House Revolution” against Speaker Joseph Cannon.

The loss of a potential Senate majority for the Republican Party twice, when it seemed possible.

The undermining of the American economy and America’s image in the world.

The promotion of racism, misogyny, nativism, and hate and confrontation.

The undermining of national government in favor of sectionalism and secession.

The growing inability of President Obama to gain any kind of cooperation from the opposition party, unseen since the time of Andrew Johnson.

The loss of any reasonable civility between the leaders of the Republican Party and the President of the opposition party.

The growing split between the two major political parties in a manner unseen since the Civil War-Reconstruction Era 150 years ago.

The growing personal threats of assassination against President Obama, unseen at this level since the time of Abraham Lincoln.

But there are signs that the American people have had it with the Tea Party Movement in the Congress and in the state governments.

This is a clear cut warning for those promoting this divisiveness and anarchy, that the time for return to civility has arrived, and that if those in government now refuse to see the handwriting on the wall, then they will be repudiated in 2014 and 2016!

The Economy Improving Greatly, But Obama Gets Little Credit For It!

The American economy is rapidly growing and improving, and the future is bright, except for the problem of unemployment. The auto industry is booming, as Obama saved the industry by giving them assistance in 2009-2010, and the expansion of the economy has also been benefited by three to four percent growth in the past two economic quarters. But one would get the impression that Barack Obama deserves no credit, when he deserves most of the credit for the improvements!

There is still the issue of refusal of the GOP House of Representatives to promote infrastructure spending, to raise the minimum wage to the level of inflation over the years, to continue the assistance to long term unemployed to avoid starvation and homelessness, and the need to push for education, as the future for the young, with proof that the more educated one is, the much lower the unemployment rate really is, and will continue to be. Also, lowering the debt for college students and graduates, as much as there are subsidies for corporations, would be a massive move in the right direction.

That is why it is essential for an end to the deadlock in the nation’s capital, and for action to be taken, but if not, the urgency of a Democratic Congress majority in both houses in November’s midterm elections is apparent!

Barack Obama Becoming Another Bill Clinton On The Economy: Higher Taxes On Wealthy, Better Economy!

Barack Obama has fought for higher taxes on the wealthy, and brought them about in 2013, as Bill Clinton did in 1993.

Under Bill Clinton, we had the greatest period of economic prosperity in American history, the rich paid more, and the country did not tank!

Now under Barack Obama, the deficit in government spending is rapidly declining, and the stock market is at an all time high, both occurring as we see higher taxes on the wealthy once again!

The Republicans complain bitterly once again, and again, they are wrong, and economic expansion is occurring, even with the GOP attempts to block it, and instead, draw attention to what they call “scandals”, which, by comparison with scandals and controversies under George W. Bush and Ronald Reagan, pale by comparison!

The result of the GOP political “dirty tricks” is that they will NOT harm Barack Obama’s historical accomplishments, or Hillary Clinton’s chances for the White House, which depend only on her desire to run. If she runs, she is the 45th President of the United States on January 20, 2017!

The Barack Obama Economic Record: Worth Defending!

Republicans love to attack Barack Obama as a dissater on economic matters, claiming he is a total failure, and conveniently forgetting the horrible record of George W. Bush, and what Barack Obama inherited, the worse economic conditions for a new President entering office since Franklin D. Roosevelt in 1933!

But just as the FDR economic record is seen as positive by most historians and other scholars, someday the Obama record in his first term will be praised.

Of course, there are still naysayers for FDR’s economic record, and they seem to be multiplying, as part of the conservative and Republican assault on Barack Obama, but the truth is otherwise from what the propagandists state!

Is there room for improvement? Of course, but considering where we started in January 2009, the economy has come a long way.

What has been accomplished?

The creation of 4.1 million jobs.
25 straight months of economic growth.
The lowering of the unemployment rate from a high of 9.7% to 8.2%.
An increase of 63 percent in the stock market.
The revival and success of the auto industry.

This is a record Obama can be proud of, and we must remind ourselves that, as Obama has stated, the mess we were left in by the Bush Administration cannot be reversed completely in four years, and maybe not even eight years.

It will be a long haul, but the point is progress is being made, and Mitt Romney refuses to recognize that, and thinks his business experience will be the way to get us out of our economic mess more quickly.

A final thought: The last businessman President was Herbert Hoover! That is correct, Herbert Hoover! Enough said!

What Can Mitt Romney Win In November?

Mitt Romney may have won Ohio by the small margin of one percent and about 12,000 votes over Rick Santorum, but the question remains: Where can he win a combination of states to equal a majority of 270 electoral votes?

Can he win New England, even his home state of Massachusetts? Unlikely, with maybe the exception of New Hampshire.

Can he win the Middle Atlantic states? Unlikely, with the best chance in Pennsylvania, but unlikely.

Can he win the South? Unlikely, despite being the GOP nominee, because of his Mormon faith. Sure, he will win some of the states but unlikely to win Florida, North Carolina or Virginia, the swing states, and a chance to lose Georgia to Barack Obama as well, with the growing Hispanic and Latino vote in the Peach State.

Can he win the Midwest? Well, maybe a few states, but he has lost all of the Midwest and Great Plains states that have had primaries and caucuses so far, except for his birth state of Michigan and a narrow win in Ohio. Rick Santorum has real support in this area of the country.

Can he win the Mountain States? Yes, for those which have large numbers of Mormons, including Arizona, Utah, and Idaho, and probably Montana and Wyoming as well, but not likely to win New Mexico, Colorado and Nevada.

Can he win the Pacific Coast states? Is that a serious question? NO, except for Alaska.

If the economy continues to get better, Mitt Romney has lost his biggest issue.

If the anti woman vendetta of Rush Limbaugh and social conservatives in Congress and the states continues, as with the failed Blunt Amendment and the Virginia vaginal probe law, Romney will lose.

If the anti immigrant (Hispanic and Latino) mentality of Arizona, Alabama, Georgia and other states continues, the only Hispanic vote Romney might win is the Cuban vote in Florida and elsewhere, but not the Mexican, Puerto Rican, Colombian, and other Latin nations’ immigrants, meaning only those who are legal and can vote.

If the extremism of the GOP continues down its destructive path, Independents will leave them in droves.

Of course, Barack Obama and the Democrats must work and plan as if they could lose the election, because they could, but the obstacles facing Mitt Romney are massive, and this could have a deleterious effect on the Republican Party in many state races and in both houses of Congress.

Stock Market Revival Under Barack Obama: Wonderful, But Not Time To Declare Victory!

Three years into the Obama Presidency, and the great news is that the stock market has seen a tremendous revival under his watch.

Yesterday, the stock market reached a level unseen since before the economic collapse of 2008 and the Great Recession, as the Dow Jones reached its highest level in four years, and the Nasdaq reached its highest level in eleven years.

With a 5,000 point gain since the Obama inauguration, there is a temptation to think that the economic decline is over, but that would be unwise to believe. There is still too much unemployment, and too many people who are underemployed, so it is not a time to declare victory in any shape or fashion. 8.3 percent unemployment is the lowest in three years, but not good enough to rest on one’s laurels.

However, if Obama can bring about or have the fortune that at least 150,000 jobs are created every month from now on, with last month bringing 250,000 growth in jobs, then the unemployment rate will go below 8 percent, and the odds of Obama winning a second term will be greatly enhanced.

The point is that Mitt Romney and other Republicans will have less of an issue to use against Obama if that growth occurs, and already, one can see that Romney is having problems being coherent in his reaction to the job and stock market gains.

The long range issues of foreign policy and defense and national security, and the significance of the federal courts and the Supreme Court, will, hopefully, start to come to the forefront, as in the long run, these are the more important issues for the future of the nation.

Barack Obama’s State Of The Union Address: Powerful, Inspirational, Visionary!

President Barack Obama reminded us tonight of how he inspired us when he ran for President in 2008.

His speech was powerful, inspirational, and visionary, and he made it clear that he was willing to fight for what he believed in, if the Congress continued to stand in the way of progress and change. He would take action in areas where there is stalemate, by use of his Presidential powers.

He pointed out how the economy is improving; how we are more respected around the world; how we have greatly lessened the danger of terrorism; and the work that must be done, regarding education, infrastructure spending, and other initiatives to continue the expansion of the American economy.

He gave tribute to Americans who have sacrificed for our country, particularly in the military, and called for “fairness” when it comes to tax rates and to share in the responsibilities of being American citizens. And he called for opportunities for young immigrant children who only want the chance to prove their commitment to the only country they remember, by getting a university education or serving in the military,and thereby gaining the chance for citizenship.

He called for a sense of renewed commitment, and a shared one, in the future of our nation, which he said can never be regarded as having passed its peak, but still has greatness in its future if we all do our part in advancing America.

The speech made one proud that Barack Obama has been our President for the past three years, and it marks the inception, more formally than before, of the Presidential Election campaign of 2012!