Apr 212007
 

An excerpt from Iacocca’s new book – read the entire excerpt:

Am I the only guy in this country who’s fed up with what’s happening? Where the hell is our outrage? We should be screaming bloody murder. We’ve got a gang of clueless bozos steering our ship of state right over a cliff, we’ve got corporate gangsters stealing us blind, and we can’t even clean up after a hurricane much less build a hybrid car. But instead of getting mad, everyone sits around and nods their heads when the politicians say, “Stay the course.”

Stay the course? You’ve got to be kidding. This is America, not the damned Titanic. I’ll give you a sound bite: Throw the bums out!

You might think I’m getting senile, that I’ve gone off my rocker, and maybe I have. But someone has to speak up. I hardly recognize this country anymore. The President of the United States is given a free pass to ignore the Constitution, tap our phones, and lead us to war on a pack of lies. Congress responds to record deficits by passing a huge tax cut for the wealthy (thanks, but I don’t need it). The most famous business leaders are not the innovators but the guys in handcuffs. While we’re fiddling in Iraq, the Middle East is burning and nobody seems to know what to do. And the press is waving pom-poms instead of asking hard questions. That’s not the promise of America my parents and yours traveled across the ocean for. I’ve had enough. How about you?

I’ll go a step further. You can’t call yourself a patriot if you’re not outraged. This is a fight I’m ready and willing to have….

Why are we in this mess? How did we end up with this crowd in Washington? Well, we voted for them-or at least some of us did. But I’ll tell you what we didn’t do. We didn’t agree to suspend the Constitution. We didn’t agree to stop asking questions or demanding answers. Some of us are sick and tired of people who call free speech treason. Where I come from that’s a dictatorship, not a democracy….        Continue reading »

Federal Credit Card Maxed Out

 Congress, Politics, Presidency  Comments Off on Federal Credit Card Maxed Out
Mar 082006
 

Treasury Secretary John Snow notified Congress yesterday that the administration had taken “all prudent and legal actions” to keep from hitting the $8.2 trillion national debt limit. In urging Congress to raise the debt ceiling, Snow said the Treasury had already hit a crisis point because it had exhausted the $15 billion Exchange Stabilization Fund and is now tapping the Civil Service Retirement and Disability Fund which should provide a “few billion” dollars in extra borrowing money. Should Congress ultimately agree to raise the debt ceiling, as it is expected to do, it will be the fourth increase in the last five years. The fact that the administration increasingly depletes its funds and seeks to extend its credit line is a direct result of a host of “imprudent” actions over the past five years, namely overseeing a rapid increase in government spending while also handing out huge tax cuts for the rich. According to the Government Accountability Office, the estimated fiscal exposure — i.e. the increasing government spending liabilities — has more than doubled during the Bush presidency. Meanwhile, Bush has failed to veto a single bill passed by Congress and has instead called for more tax cuts which have played a leading role in fueling the deficit.

Katrina: Republican Excuse to Continue Regressive Agenda

 Congress, Corruption, Politics, Society  Comments Off on Katrina: Republican Excuse to Continue Regressive Agenda
Sep 222005
 
  • A nice little tax cut for your wealthy friends – $327 billion
  • Some corporate welfare for your campaign contributors in the oil business – $8.5 Billion
  • Having a king-sized natural disaster to help you try to cut the programs you don’t like for the old and poor – Priceless
  • For everything else, there’s the queers.

With great fanfare, and recalling the "Gingrich Revolution" of the 1990s, House conservatives yesterday proposed a broad set of spending cuts they said would help offset the costs of the Katrina reconstruction effort. Their plan reduces the budget by $500 billion over 10 years, and does so in large part by dismantling programs that invest in middle- and working-class Americans. Progressives can do better. It’s possible to cut far more unnecessary federal spending, accomplish it in half the time, and do so while upholding the principles of fiscal responsibility and concern for the common good.

The proposal announced yesterday cuts substantial funding from several "long-standing targets of conservative scorn," like the Corporation for Public Broadcasting, the National Endowment for the Arts, and the foreign operations budget. The largest proposed cuts are targeted at Medicaid, "the health care safety net for low-income children, elderly, disabled, pregnant women and parents." The plan cuts $225 billion by converting the federal share of certain Medicaid payments into a block grant, and $8 billion more by increasing Medicaid co-payments. Eliminating subsidized loans to graduate students slices off an additional $8.5 billion. $11 billion more is saved by passing restrictive new rules for federal retiree health care and federal pension programs.

A progressive approach to trimming the budget could result in greater savings over a shorter period of time. For example, rolling back the 2001 and 2003 tax cuts for the wealthiest 1 percent of Americans would save $327 billion over five years. Cracking down on offshore tax shelters would save $65 billion over the same time period. Simply allowing Medicare recipients to purchase drugs through the mail would save $43 billion over five years. Repealing subsidies to the fossil fuel industry contained in the recent energy bill would save $8.5 billion. Shelving costly and unnecessary weapons systems would save $200 billion. Getting rid of counterproductive agricultural export subsidies would save $30 billion over the first five years along. Giving up half of the 6,371 special earmarked projects of the 2005 transportation bill would save an additional $12 billion. A progressive approach to trimming the budget could cut $688 billion in federal spending over just five years.

 Republican Offsets      Progressive Offsets  
 Title III Program Cuts  $307B    Rollback Tax Cuts for the Wealthy  $327B
Other including DoD and DHS  $333B    Eliminate Offshore Tax Shelters  $  65B
 Cut Federal Share of Medicaid  $225B    Repeal Oil Industry Subsidies  $    8.5B
 Increase Medicaid Copayments  $    8B    Allow Medicare Mail Order Drug Purchases  $  43B
 Eliminate Loans To Graduate Students  $    8.5B    Shelve unnecessary Defense Systems  $200B
 Restriction on Federal Retiree Healthcare and Pensions  $   11B    Eliminate Agricultural Export Subsidies  $  30B
 Foreign Operations Budget  $   37B    Eliminate 1/2 of 6,371 Transportation Bill Projects  $  12B

 TOTAL After 10 Years

 $929B  

 TOTAL Savings after only five years

 $685.5B

Let’s take a special look at some of the cuts included in the Republican Plan. I think most agregious is their call to eliminate "Corporate Welfare." This from a Congress that gave the oil companies, already experiencing windfall profits, huge subsidies in the just passed energy bill. Take a look at a partial list and see if you notice any patterns:

  • Eliminate the Applied Research for Renewable Energy Sources Program
  • Eliminate the Clean Coal Technology Program
  • Eliminate the FreedomCAR Program
  • Eliminate the ITA’s Trade Promotion Activates
  • Eliminate the Advanced Technology Program
  • Repeal the Continued Dumping and Subsidy Offset Act
  • Eliminate the Foreign Market Development Program
  • Eliminate the Market Access Program
  • Eliminate the Export Enhancement Program
  • Eliminate the Hydrogen Fuel Initiative

Continue reading »