Monday, August 29, 2011

Five Charts Every American Voter Should See Before 2012 -History repeats itself-

President Obama Is Repeating The Same Pattern That Led President Clinton To 5 Balanced Budgets (that's 5 more balanced budgets than the last 5 Republican presidents -combined-)
see also:

President Obama Is Repeating The Same Fiscal Responsibility Of His Democratic Predecessors see also:

Prior to President Obama's stimulus, we were losing private sector jobs through 2008 at a rapidly accelerating pace.

During 2009, starting immediately after the stimulus passed in Feb 2009, the loss trend reverses.

We then begin to GAIN private sector jobs.

And here are two more detailed graphs on the dynamic between private and public sector job creation:

States and localities have eliminated 671,000 jobs since employment peaked in August 2008" "Public" sector job creation remains the biggest drag on the overall employment issue.

President Obama Is Repeating The 80 Year Record Of Democratic Success In Job Creation

see also:

Hope and Accomplishment

Saturday, August 27, 2011


By Steve Benen

Remember a few years ago, when the American auto industry was on the verge of collapse? When Republicans said the Obama administration’s risky strategy would fail and Mitt Romney said we should “let Detroit go bankrupt” and we could “kiss the American automotive industry goodbye” if Obama’s policy moved forward?

We can all be very glad right now that Republicans were wrong. The auto industry is one of the economy’s few bright spots.

Taxpayers bailed out much of the U.S. auto industry. Now the carmakers might be what saves the nation’s economy from falling back into recession.

After a massive restructuring and several high-profile bankruptcies, a leaner, more aggressive auto industry is making a comeback, hiring workers and ramping up manufacturing plants. From a trough two years ago, Ford Motor Co., General Motors Co., Chrysler Group and other auto companies have added almost 90,000 manufacturing jobs, a 14% increase, according to federal employment data.

Kevin Drum flagged a chart from the L.A. Times piece, but added a helpful blue line to show the before-and-after difference for the industry once the Obama administration’s policy was enacted.

I continue to think of this as one of the Obama White House’s best success stories, even if it’s largely overlooked by the political world. Two years ago, NBC News established a tough benchmark: “As the GM bailout goes, so goes the Obama presidency.”

Well, the rescue policy worked.

Thursday, August 11, 2011

23 polls, ALL overwhelmingly favor eliminating the Bush tax give-a-ways to the rich


Overview of polls:
The lowest number is 56% from the Republican leaning Rassmussan to 76% from April's Gallup poll. Average of the 23 polls is 65% in favor of ending the Bush tax breaks for the rich only 30% in favor of spending cuts alone to reduce the national debt.

It is striking that CNN's recent poll noted that only 31% of the American people approve of the Tea Party and only 33% approve of the Republican Party. When you look at the CNN poll it is apparant who the 30% are in the aggregate of the above mentioned 23 polls, they are the base of the Republican party. And they are far out of step with the American People.

Wednesday, August 3, 2011


The amount bond rating agencies agree needs to be cut from the annual deficits over ten years to get our fiscal house in order

The amount the original Republican debt reduction plan proposed.

The amount President Obama countered the original Republican proposal with.
This would have consisted of a 4/1 ratio of spending cuts to tax increases on the rich.

The amount of debt reduction finally arrived at after the Republicans nearly drove America into default. Speaker Boehner used the Congressional Budget Office numbers as a baseline for the plan. The CBO’s numbers include the end of the George W. Bush tax give-a-ways to the rich which expire in 2012. Elimination of the Bush tax policies will cut the Federal Debt by $3.7 trillion over a decade.
In effect this works out to approximately a 1/2 ratio of spending cuts to tax increases on the rich.
Only 1% of the spending cuts come into play in 2012, the other 99% coming in the out years. Under the enforcement mechanism of the bill, Social Security, Medicare beneficiaries, food stamps and other low income programs are immune from cuts.

Is what John Boehner is saying he got in this bill. If getting schooled by President Obama, and positioning the Republican Party in 2012 as the goon squad for millionaires and billionaires is what John Boehner wanted I think he actually got 100% of what he wanted.

Postscript: Within days of approval of the debt deal compromise the S&P rating agency downgraded the United States credit rating to AA from AAA. Had the Republican leadership accepted President Obama's original plan of a $4.2 trillion reduction in the federal debt over the next decade this downgrade would have been averted.
The strangle-hold the Tea Party has over the Republican Party has in this case exposed the American taxpayer to billions of dollars in increased interest payments due to this easily predictable lowering of our credit rating.
No sane American would deliberatly poisen their personel credit rating, but the Tea Party and the lack courage and failure of leadership in the Republican Party has poisened our nation's credit and credibility, and yet again handed the bill to the next generation.