Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts

Tuesday, March 29, 2011

Crisis in Libya: Al Franken Gets It

Did you watch the President's speech on Monday night? Reviews are mixed, naturally, depending on the agenda of the reviewer. Here's a quick sampling before moving beyond the pundits to talk about Senator Franken's pragmatic action.
@thenation
The Nation

Obama tries, without success, to explain an undeclared war. By John Nichols. http://bit.ly/fxeZq0
From the other end of the spectrum:
@NewsHour
NewsHour


Pres. Obama accomplished three main goals to three distinct audiences at his speech on #Libya http://ow.ly/4oHYO
Even people who felt Gadhafi was presiding over a beastly, cruel, and violent repression of Libyan citizens are rightly concerned about the cost, particularly given how the two major U.S. military operations in the last decade added to the deficit. Senator Al Franken (D-MN) is set to introduce a bill to assure that military operations, such as the undeclared wars in Iraq and Afghanistan, don’t get a free pass to float a check - that military spending won't add to our national debt.

Senator Franken has expressed concerns about the potential cost of military operations in Libya, saying, "You know, so far the administration said we can pay for it in the regular military budget but at a certain point, that may not be the case." Franken continues to be a forceful presence in the Senate, focusing on productive work rather than simply posturing for the press.

The debate will continue about what we should have done about the slaughter of civilians, and what the role of the U.S. government and diplomacy should be outside our borders. With so much of our budget already dedicated to the military I'm glad somebody has the courage to face reality and confront the hard choices we face instead of passing the cost-burden along. Thank you, Senator Franken.
Thomas Hayes is a New Media Advisor, Political Consultant, Journalist, Entrepreneur, and former Congressional Campaign Manager; he believes in "follow the money" when following politics, and continues his 12-step recovery from the years spent as a Programmer/Database Administrator by carrying his camera nearly everywhere and writing on topics ranging from economics and politics to culture and community.
You can follow Tom as @kabiu on twitter.

Wednesday, February 23, 2011

The Truth About WI Teacher's Pay

The data on how much is spent on teacher's pay isn't hard to find, but the truth may bother WI's Governor in his bid to blame unions and collective bargaining for his budget priorities:

The average teacher's salary across all Wisconsin districts is $48,267.  According to the Census Bureau’s Median Household Income by State – Single-Year Estimates the average household income in Wisconsin is $51,237 -- a difference of $2,970/year which would amount to a 6% raise if teachers were just brought up to the average.

Collective bargaining hasn't made Wisconsin teachers rich, it hasn't even brought them level with the rest of their state, but their new Governor wants to impose a new regulation restricting their rights.  If you ask me, that's new government regulations when the GOP has been telling us job creation is their priority.

Actions speak louder than words.


If you want to dig deeper, or verify the data on teacher pay, check the Wisconsin Department of Public Instruction link: "Statistical Information Center - School Staff and Salary Data." It's all there: the low salary, high salary, average salary, average fringe, average local experience, average total experience for staff in each public school district, and more, in spreadsheets you can download.

If Governor Scott Walker hasn't blocked access, that is.
Political Correspondent Thomas Hayes is a former Congressional Campaign Manager; he's a journalist, photo/videographer, entrepreneur, and communications consultant who contributes regularly on topics ranging from economics and politics to culture and community, who incidentally stands in solidarity with the citizens and workers in Wisconsin refusing to let their Governor's self-created budget "crisis" and new spending priorities be re-cast as a reason to undermine contractual obligations and collective bargaining agreements.
You can follow Tom as @kabiu on twitter.

Wednesday, August 04, 2010

Ronald Reagan must be rolling in his grave

Former U.S. Representative David Stockman (R-MI), who served as Ronald Reagan's first director of the Office of Management and Budget, used the forum of the Sunday New York Times to unmask and rebuke Republican members of Congress and their elite messaging strategists who cling to claims to be fiscal conservatives.

"Mr. McConnell’s stand puts the lie to the Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy."
David Stockman
31 July 2010
Describing current and recent GOP tax rhetoric "a mockery of traditional party ideals," Stockman says these policy doctrines have led to four "great deformations" of the U.S. economy over the past four decades, starting when the Nixon administration ignored the 1944 Bretton Woods agreement to balance our accounts with the world while "Republicans have turned a blind eye to each one."

"By fiscal year 2009, the tax-cutters had reduced federal revenues to 15 percent of gross domestic product, lower than they had been since the 1940s. Then, after rarely vetoing a budget bill and engaging in two unfinanced foreign military adventures, George W. Bush surrendered on domestic spending cuts, too — signing into law $420 billion in non-defense appropriations, a 65 percent gain from the $260 billion he had inherited eight years earlier."
David Stockman
31 July 2010
Doubtless this is why so many who lately vote against Republican policies and politicians describe themselves as socially liberal yet fiscally conservative. The GOP has been abusing the trust of their base, successfully waging a PR war on the truth: relying on either the inattention, and/or gullibility of voters who have fallen for their appealing "brand ideology" without realizing this rhetoric is entirely at odds with actual GOP goals and actions for the past 4 decades.

That's the real threat to the Republican Party, which is now gleeful for media coverage of Tea Party events so far to the political right they may fool swing voters into thinking the GOP looks as though they occupy the middle-ground. Stockman's Op-Ed article is a must read for all who take politics seriously enough to vote.



Thomas Hayes
is an entrepreneur, Democratic Campaign Manager, journalist, and photographer who contributes regularly to a host of web sites on topics ranging from economics and politics to culture and community.



Thursday, July 15, 2010

No Senator Left Behind

The GOP claims they're really serious about deficit reduction, but Sentator McConnell (R-KY) says it's the "uniform view in his caucus that tax cuts needn’t be offset by other changes in spending..." Evidently none of them think tax cuts affect the budget.

$678 billion - it's a math thing. Republican Whip Jon Kyl (R-AZ) doesn't even want to talk about it.

There's ample evidence that the tax cuts enacted under the previous administration were, in fact, the largest factor in rapidly turning the Treasury's surplus in 2000 into the deficit under the Bush administration which mostly enjoyed a Republican Congressional majority.


What kind of voodoo budgeting lets you ignore a revenue decrease?  We lost 3 million manufacturing jobs while Bush was President, but the GOP line is that tax cuts will help?  Tax cuts don't put groceries on the table of an unemployed person, but they do add to the deficit - it's not complex math.

We've got to get more rational in discussing the budget and the deficit. The U.S. economy can work - productivity has nearly doubled in this country in the past 30 years, and corporate profits are obviously robust even as CEO salaries and bonuses have sky-rocketed.

Leaders who will safeguard the interests of ordinary citizens are becoming an endangered species in the Congress. In late summer 2008 Congressional leaders and the Bush administration told the country that big business needed behemoth bailouts or our entire economic system would collapse, but that Wall Street bailout did nothing to save blue collar jobs, or reverse the outsourcing trends, and while some say the jury's still out on job creation if the GOP pundits insist the Obama-era stimulus package didn't help then what of the Bush-era bailout? The bailout certainly didn't stimulate lending, though it did give banks enough cash for lavish year-end bonuses.

Can you think of another industry that would award bonuses when they had to get billions of dollars simply to remain in business?  Evidently it's not just GOP Senators who'd benefit from a little remedial math refresher.

And now Senate Republicans want to balance the budget (and stir up fears about deficits) while they claim there's no need to offset tax cuts with other revenue?

Think about that.  Tax cuts may or may not make be your cup of tea; they're a tool in the economist's arsenal. Yet to claim on the one hand deficits are bad and then turn around and advocate revenue reduction -- in this case by providing tax cuts for the wealthiest citizens -- without offsetting it in any way defies the reasoning powers we expect in our elected leaders.



Thomas Hayes
is a Democratic campaign staffer, entrepreneur, journalist, and photographer who contributes regularly to a host of web sites on topics ranging from economics and politics to culture and community.

Tuesday, January 06, 2009

Obama says trillion-dollar deficits may last years

More at SFGate.com: “President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."”