Category Archives: The Economy

The Rage Won’t End on Election Day – NYTimes.com

Another great column by Frank Rich in the NY Times:

That wave of anger began with the parallel 2008 cataclysms of the economy’s collapse and Barack Obama’s ascension. The mood has not subsided since. But in the final stretch of 2010, the radical right’s anger is becoming less focused, more free-floating — more likely to be aimed at “government” in general, whatever the location or officials in charge. The anger is also more likely to claim minorities like gays, Latinos and Muslims as collateral damage. This is a significant and understandable shift, if hardly a salutary one. The mad-as-hell crowd in America, still not seeing any solid economic recovery on the horizon, will lash out at any convenient scapegoat.

The rage was easier to parse at the Tea Party’s birth, when, a month after Obama’s inauguration, its founding father, CNBC’s Rick Santelli, directed his rant at the ordinary American “losers” (as he called them) defaulting on their mortgages, and at those in Washington who proposed bailing the losers out. (Funny how the Bush-initiated bank bailouts went unmentioned.) Soon enough, the anger tilted toward Washington in general and the new president in particular. And it kept getting hotter. In June 2009, still just six months into the Obama presidency, the Fox News anchor Shepard Smith broke with his own network’s party line to lament a rise in “amped up” Americans “taking the extra step and getting the gun out.” He viewed the killing of a guard by a neo-Nazi Obama hater at the United States Holocaust Memorial Museum in Washington as the apotheosis of the “more and more frightening” post-election e-mail surging into Fox.

The moment passed. Glenn Beck, also on Fox, spoke for most on the right when he dismissed the shooter as a “lone gunman nutjob.” Those who showed up with assault rifles at presidential health care rallies that summer were similarly minimized as either solitary oddballs or overzealous Second Amendment patriots. Few cared when The Boston Globe reported last fall that the Secret Service was overwhelmed by death threats against the president as well as a rise in racist hate groups and antigovernment fervor. It’s no better now. In a cover article last month, Barton Gellman wrote in Time that the magazine’s six-month investigation found that “the threat level against the president and other government targets” is at its highest since the antigovernment frenzy that preceded Timothy McVeigh’s bombing of a federal building in Oklahoma City in 1995.

AND

 

Don’t expect the extremism and violence in our politics to subside magically after Election Day — no matter what the results. If Tea Party candidates triumph, they’ll be emboldened. If they lose, the anger and bitterness will grow. The only development that can change this equation is a decisive rescue from our prolonged economic crisis. Not for the first time in history — and not just American history — fear itself is at the root of a rabid outbreak of populist rage against government, minorities and conspiratorial “elites.”

So far neither party has offered a comprehensive antidote to our economic pain. The Democrats have fallen short, and the cynics leading the G.O.P. haven’t so much as tried. We shouldn’t be surprised that this year even a state as seemingly well-mannered as Connecticut has produced a senatorial candidate best known for marching into a wrestling ring to gratuitously kick a man in the groin.

 

 

MORE:   Op-Ed Columnist – The Rage Won’t End on Election Day – NYTimes.com.

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Glenn Beck: Drawing On 1950s Extremism? : NPR

Great article on NPR.  I encourage you to click the link and read the entire interview

In the Oct. 18 issue of The New Yorker, historian Sean Wilentz examines “how extremist ideas held at bay for decades inside the Republican Party have exploded anew — and why, this time, party leaders have done virtually nothing to challenge those ideas, and a great deal to abet them.”

Wilentz, who teaches at Princeton University, argues that the rhetoric expressed by both conservative broadcaster Glenn Beck and the Tea Party is nothing new — and is rooted in an extremist ideology that has been around since the Cold War, a view that the Republican Party is now embracing.

“I think what’s happening is the Republican Party is willing to chase after whatever it can to get the party back — to get power back,” he tells Fresh Air’s Terry Gross. “This is what’s happening in the Republican Party, so instead of drawing lines, they’re jumping over fences to look like they’re in the good graces of these Tea Party types.”

Wilentz says Beck, who has emerged as a unifying figure and intellectual guide for the Tea Party movement, finds fodder for his Fox News Channel and syndicated radio shows in the ideas espoused by the John Birch Society, an ultraconservative political group founded in 1958 that, Wilentz writes, “became synonymous with right-wing extremism.”

via Glenn Beck: Drawing On 1950s Extremism? : NPR.

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Black voters may be just as engaged as they were in 2008, polls show

This is good news!  Now if only the young voters turn out,too….

Hat tip to Americablog where I first saw this…

Will black voters turn out in November?

Historically, black turnout for midterm elections has lagged behind the national average, but two new reports offer a bullish outlook for this year.

A major survey conducted by The Washington Post, the Henry J. Kaiser Family Foundation and Harvard University found that 80 percent of black Democrats are as interested or more interested in the midterms than they were in the 2008 presidential election, when their enthusiasm helped propel Barack Obama into office.

This year, 62 percent of all black Democrats say they’re likely to encourage others to support certain candidates, according to the survey, compared with 47 percent of white Democrats and 57 percent of all Republicans.

And the Joint Center for Political and Economic Studies, which researched the black electorate, said in a report Thursday that African American participation in November may be higher than in many past midterm elections.

via Black voters may be just as engaged as they were in 2008, polls show.

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White America Has Lost Its Mind – Village Voice

This Village Voice Article is close to priceless….

About 12:01 on the afternoon of January 20, 2009, the white American mind began to unravel.

It had been a pretty good run up to that point. The brains of white folks had been humming along cogently for near on 400 years on this continent, with little sign that any serious trouble was brewing. White people, after all, had managed to invent a spiffy new form of self-government so that all white men (and, eventually, women) could have a say in how white people were taxed and governed. White minds had also nearly universally occupied just about every branch of that government and, for more than two centuries, had kept sole possession of the leadership of its executive branch (whose parsonage, after all, is called the White House).

But when that streak was broken—and, for the first time, a non-white president accepted the oath of office—white America rapidly began to lose its grip.

As with other forms of dementia, the signs weren’t obvious at first. After the 2008 election, when former House majority leader Tom DeLay suggested that instead of a formal inauguration, Barack Obama should “have a nice little chicken dinner, and we’ll save the $125 million,” black folks didn’t miss the implication. References to chicken, particularly of the fried variety, have long served as a kind of code when white folks referred to black people and their gustatory preferences—and weren’t many of us already accustomed to older white politicians making such gaffes? But who among us sensed that it was a harbinger that an entire nation was plunging into madness?

MORE:   White America Has Lost Its Mind – Page 1 – News – New York – Village Voice.

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U.S. Economy Is 11.5 Million Jobs Short, EPI Says (CHART)

Depressing….

Even though the unemployment rate remained flat at 9.6 percent in September, the labor market would now need to add a total of about 11.5 million jobs to restore the pre-recession rate, according to analysis from Heidi Shierholz, an economist with the Economic Policy Institute.

The economy lost about 95,000 jobs last month, including temporary Census workers. Not including Census positions, roughly 18,000 jobs were lost, as the private sector addition of 64,000 jobs couldn’t offset the 83,000 jobs cut by state and local governments, whose unusually severe deficits have lead analyst Meredith Whitney to predict that the next major financial crisis will come from municipal debt defaults. The state and local cuts included 58,000 teaching jobs.

MORE:  U.S. Economy Is 11.5 Million Jobs Short, EPI Says (CHART).

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Hey, Small Spender – NYTimes.com

As usual, Paul Krugman sets the record straight:

Here’s the narrative you hear everywhere: President Obama has presided over a huge expansion of government, but unemployment has remained high. And this proves that government spending can’t create jobs.

Here’s what you need to know: The whole story is a myth. There never was a big expansion of government spending. In fact, that has been the key problem with economic policy in the Obama years: we never had the kind of fiscal expansion that might have created the millions of jobs we need.

Ask yourself: What major new federal programs have started up since Mr. Obama took office? Health care reform, for the most part, hasn’t kicked in yet, so that can’t be it. So are there giant infrastructure projects under way? No. Are there huge new benefits for low-income workers or the poor? No. Where’s all that spending we keep hearing about? It never happened.

To be fair, spending on safety-net programs, mainly unemployment insurance and Medicaid, has risen — because, in case you haven’t noticed, there has been a surge in the number of Americans without jobs and badly in need of help. And there were also substantial outlays to rescue troubled financial institutions, although it appears that the government will get most of its money back. But when people denounce big government, they usually have in mind the creation of big bureaucracies and major new programs. And that just hasn’t taken place.

Consider, in particular, one fact that might surprise you: The total number of government workers in America has been falling, not rising, under Mr. Obama. A small increase in federal employment was swamped by sharp declines at the state and local level — most notably, by layoffs of schoolteachers. Total government payrolls have fallen by more than 350,000 since January 2009.

MORE:  Op-Ed Columnist – Hey, Small Spender – NYTimes.com.

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Jon Stewart: The Most Trusted Name In Fake News : NPR

Great article and interview with Jon Stewart on NPR.

Here is an excerpt from the story and if you click the link, you can read the entire interview:

On Oct. 30, comedians Jon Stewart and Stephen Colbert will host dueling rallies on the National Mall. Called “The Rally to Restore Sanity” and the “March to Keep Fear Alive,” respectively, the two rallies closely mimic Glenn Beck’s recent “Restoring Honor Rally,” also held in Washington, D.C.

Stewart sat down with Terry Gross on Sept. 29 in front of a live audience at New York City’s 92nd Street Y to discuss his time on The Daily Show, his role in the media, and the upcoming rally — which is being billed as “Woodstock, but with the nudity and drugs replaced by respectful disagreement.”

“Like everything that we do, the march is merely a construct,” he says. “It’s merely a format, in the way the book is a format, a show is a format … to be filled with the type of material that Stephen and I do and the point of view [that we have]. People have said, ‘It’s a rally to counter Glenn Beck.’ It’s not. What it is was, we saw that and thought, ‘What a beautiful outline. What a beautiful structure to fill with what we want to express in live form, festival form.”

For the past 11 years, Stewart has been expressing his opinions nightly on The Daily Show, which consistently ranks among the top programs viewed by the 18-34 age demographic. His quick wit and biting satire have taken the once-obscure fake-news show and made it an influential voice in American humor and politics.

via Jon Stewart: The Most Trusted Name In Fake News : NPR.

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The End of the Tunnel – NYTimes.com

Another brilliant article from Paul Krugman.  I encourage you to click the link at the bottom and read the entire column.

The Erie Canal. Hoover Dam. The Interstate Highway System. Visionary public projects are part of the American tradition, and have been a major driver of our economic development.

And right now, by any rational calculation, would be an especially good time to improve the nation’s infrastructure. We have the need: our roads, our rail lines, our water and sewer systems are antiquated and increasingly inadequate. We have the resources: a million-and-a-half construction workers are sitting idle, and putting them to work would help the economy as a whole recover from its slump. And the price is right: with interest rates on federal debt at near-record lows, there has never been a better time to borrow for long-term investment.

AND

When people ask why the Obama stimulus didn’t accomplish more, one good response is to ask, what stimulus? Leaving aside the cost of financial rescues and safety-net programs like unemployment insurance, federal spending has risen only modestly — and this rise has been largely offset by cutbacks at the state and local level. Many of these cuts were forced by Congress, which has refused to approve adequate aid to the states. But as Mr. Christie is demonstrating, local politicians are also doing their part.

And the ideology that has led Mr. Christie to undermine his state’s future is, of course, the same ideology that has led almost all Republicans and some Democrats to stand in the way of any meaningful action to revive the nation’s economy. Worse yet, next month’s election seems likely to reward Republicans for their obstructionism.

So here’s how you should think about the decision to kill the tunnel: It’s a terrible thing in itself, but, beyond that, it’s a perfect symbol of how America has lost its way. By refusing to pay for essential investment, politicians are both perpetuating unemployment and sacrificing long-run growth. And why not? After all, this seems to be a winning electoral strategy. All vision of a better future seems to have been lost, replaced with a refusal to look beyond the narrowest, most shortsighted notion of self-interest.

I wish I could say something optimistic at this point. But at least for now, I don’t see any light at the end of this tunnel.

via Op-Ed Columnist – The End of the Tunnel – NYTimes.com.

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Think Progress » Beck On Family’s Home Burning Down As Firefighters Watched: ‘We Are Going To Have To Have These Things’

Unbelievable…

As ThinkProgress reported yesterday, last week South Fulton Fire Department firefighters from Obion, Tennessee, stood by and watched as the Cranick family’s home burned down — which also led to the death of the family’s three dogs and a cat — because their fire-fighting services were available by subscription only, and the family had not paid the $75 fee. Immediately, right-wing writers at the conservative movement’s bulkhead magazine, The National Review, defended the county and argued that firefighting should not be a public service available to all, regardless of ability to pay.

Now, yet another major conservative has joined the defense. On his radio show this afternoon, leading right-wing talker Glenn Beck and his producer Pat Gray openly mocked the Cranick family. After playing a news clip explaining the situation, Gray adopted a southern drawl and began to mock Gene Cranick’s explanation of how the county’s firefighters refused to help his family.

Beck then went on to complain that “those who are just on raw feeling are not going to understand” that the county’s actions in refusing to assist the Cranicks were justified. He explained that America will be having the “argument” about the case of the Cranicks and that it will go “nowhere if you go onto ‘compassion, compassion, compassion, compassion’ or well, ‘they should’ve put it out, what is the fire department for?’” Beck then went on to say that the Cranicks would be “spongeing off their neighbors” if the fire department had helped them put out their fire. The radio host concluded his rant by saying “this is the kind of stuff that’s going to have to happen, we are going to have to have these kinds of things”:

via Think Progress » Beck On Family’s Home Burning Down As Firefighters Watched: ‘We Are Going To Have To Have These Things’.

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Op-Ed Columnist – Third Party Rising – NYTimes.com

Great column from Thomas Friedman in the Times this morning…

The comparison to the Roman Empire is one that has crossed my mind many times…

A friend in the U.S. military sent me an e-mail last week with a quote from the historian Lewis Mumford’s book, “The Condition of Man,” about the development of civilization. Mumford was describing Rome’s decline: “Everyone aimed at security: no one accepted responsibility. What was plainly lacking, long before the barbarian invasions had done their work, long before economic dislocations became serious, was an inner go. Rome’s life was now an imitation of life: a mere holding on. Security was the watchword — as if life knew any other stability than through constant change, or any form of security except through a constant willingness to take risks.”

It was one of those history passages that echo so loudly in the present that it sends a shiver down my spine — way, way too close for comfort.

and

“We basically have two bankrupt parties bankrupting the country,” said the Stanford University political scientist Larry Diamond. Indeed, our two-party system is ossified; it lacks integrity and creativity and any sense of courage or high-aspiration in confronting our problems. We simply will not be able to do the things we need to do as a country to move forward “with all the vested interests that have accrued around these two parties,” added Diamond. “They cannot think about the overall public good and the longer term anymore because both parties are trapped in short-term, zero-sum calculations,” where each one’s gains are seen as the other’s losses.

We have to rip open this two-party duopoly and have it challenged by a serious third party that will talk about education reform, without worrying about offending unions; financial reform, without worrying about losing donations from Wall Street; corporate tax reductions to stimulate jobs, without worrying about offending the far left; energy and climate reform, without worrying about offending the far right and coal-state Democrats; and proper health care reform, without worrying about offending insurers and drug companies.

“If competition is good for our economy,” asks Diamond, “why isn’t it good for our politics?”

We need a third party on the stage of the next presidential debate to look Americans in the eye and say: “These two parties are lying to you. They can’t tell you the truth because they are each trapped in decades of special interests. I am not going to tell you what you want to hear. I am going to tell you what you need to hear if we want to be the world’s leaders, not the new Romans.”

Click here for the full column:  via Op-Ed Columnist – Third Party Rising – NYTimes.com.

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