Monday, January 30, 2006
Fiscal Conservative?
The Red Ink just keeps flowing.CNN.com/AP reports,
The Red Ink just keeps flowing.CNN.com/AP reports,
The government expects to borrow a record $188 billion in the January-March quarter, even more than it anticipated three months ago, the Treasury Department announced Monday.Get out the check books, unless of course you're a CEO, the relative of a CEO, or a trust fund baby 'cause we'll be paying for Georgie's bender for quite a while. The sad thing is, that like all benders we'll have nothing to show for it when we sober up. No fancy new school buildings, no world class universities, no gleaming transporation systems, no museums full of art, no new music venues, no new medical facilities, nothing, just a bunch of paper with IOU written all over it and George Bush and his cronies no where in sight.
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I Wonder
if Georgie Bush will mention Exxon's "record quarterly profit" of "$10.71 billion in the fourth quarter" in his SOTUS? I mean what other good economic news does he have? GM laying off hundreds of thousands? Ford doing the same? IMB cutting benefits? Alcoa doing the same? GDP growth slowing in the fourth quarter of 2005? Stagnant stock market? Gasoline prices soaring? Crude oil poised to hit $70/barrel again this week? Trade deficit growing quarter by quarter? Budget deficits as far as the eye can see?
if Georgie Bush will mention Exxon's "record quarterly profit" of "$10.71 billion in the fourth quarter" in his SOTUS? I mean what other good economic news does he have? GM laying off hundreds of thousands? Ford doing the same? IMB cutting benefits? Alcoa doing the same? GDP growth slowing in the fourth quarter of 2005? Stagnant stock market? Gasoline prices soaring? Crude oil poised to hit $70/barrel again this week? Trade deficit growing quarter by quarter? Budget deficits as far as the eye can see?
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Sunday, January 29, 2006
The New York Times
grows a backbone and calls Bush & Co. out on the illegality of the NSA spying operation. Only problem is the Editorial forgets to call for Bush's impeachment. Of course, the House would have to be in session for that to actually happen, which despite all of the "People's Work" that is in dire need of being done the Republican Leadership of the House has decided to spend January in undisclosed locations.
grows a backbone and calls Bush & Co. out on the illegality of the NSA spying operation. Only problem is the Editorial forgets to call for Bush's impeachment. Of course, the House would have to be in session for that to actually happen, which despite all of the "People's Work" that is in dire need of being done the Republican Leadership of the House has decided to spend January in undisclosed locations.
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Tuesday, January 24, 2006
Secrecy and Authoritarian Governments
Authoritarian governments nearly always combine incompetence, excessive intrusion into private lives, and secrecy. Secrecy or the control of information combined with incompetence has deadly consequence. Secrecy both creates and abets incompetence. As the United States of America slides into an Authoritarian regime it should come as no surprise that the Bush White Houses is doing its best to restrict access to information about its incompetent response to Hurricane Katrina. According to the Boston Globe, “staff at the White House and other federal agencies” are refusing “to be interviewed by congressional investigators,” hand over documents, or even answer basic questions about when phone calls were made and to whom. One hallmark of authoritarian governments is their unwillingness to release information regarding their performance.
Apparently, the same White House staff members are even refusing to acknowledge that Hurricane Katrina happened or that the city of New Orleans was flooded. Rather they are claiming that the destruction of New Orleans and the Gulf Coast is yet another example of the liberal media making things up and of a vast liberal conspiracy to pull down George Bush and the Republican Party. The President and his staff are working hard doing the People’s work.*
*Some restrictions apply. The term People is subject to re-definition by the President or his designated proxy at any point via Top Secret Executive Order. All inquires about the President’s work habits must be submitted in writing and in triplicate on the first Thursday of every other month ending in a vowel. Requests for such information must be approved by the President’s designated proxy prior to being submitted. All requests must also be accompanied by a loyalty pledge to the President, proof of membership in the Pioneers or Rangers organization, a notarized birth certificate, and a note from the President’s mother. All documents are subject to verification. All persons submitting a request for approval to submit a request for information are subject to background checks by an agency whose existence cannot be acknowledged or denied. All persons submitting a request for approval to sumbit a request for information are subject to arrest and/or deportation. All decisions are final; they may not be appealed. Persons not a member of the Republican Party may not make requests of any kind unless they are represented by an approved lobbyist. Lists of approved lobbyists are not available.
Authoritarian governments nearly always combine incompetence, excessive intrusion into private lives, and secrecy. Secrecy or the control of information combined with incompetence has deadly consequence. Secrecy both creates and abets incompetence. As the United States of America slides into an Authoritarian regime it should come as no surprise that the Bush White Houses is doing its best to restrict access to information about its incompetent response to Hurricane Katrina. According to the Boston Globe, “staff at the White House and other federal agencies” are refusing “to be interviewed by congressional investigators,” hand over documents, or even answer basic questions about when phone calls were made and to whom. One hallmark of authoritarian governments is their unwillingness to release information regarding their performance.
Apparently, the same White House staff members are even refusing to acknowledge that Hurricane Katrina happened or that the city of New Orleans was flooded. Rather they are claiming that the destruction of New Orleans and the Gulf Coast is yet another example of the liberal media making things up and of a vast liberal conspiracy to pull down George Bush and the Republican Party. The President and his staff are working hard doing the People’s work.*
*Some restrictions apply. The term People is subject to re-definition by the President or his designated proxy at any point via Top Secret Executive Order. All inquires about the President’s work habits must be submitted in writing and in triplicate on the first Thursday of every other month ending in a vowel. Requests for such information must be approved by the President’s designated proxy prior to being submitted. All requests must also be accompanied by a loyalty pledge to the President, proof of membership in the Pioneers or Rangers organization, a notarized birth certificate, and a note from the President’s mother. All documents are subject to verification. All persons submitting a request for approval to submit a request for information are subject to background checks by an agency whose existence cannot be acknowledged or denied. All persons submitting a request for approval to sumbit a request for information are subject to arrest and/or deportation. All decisions are final; they may not be appealed. Persons not a member of the Republican Party may not make requests of any kind unless they are represented by an approved lobbyist. Lists of approved lobbyists are not available.
Monday, January 23, 2006
Ohh..that Bush Economy
It seems the Bush recovery is just spinning along according to plan. Those tax cuts for the filthy rich are doing their job of stoking the U.S. economic engine. Reuters.com reports that Ford Motor Company will eliminate "30,000 jobs and shed more than a quarter of its production capacity." And it's just not Ford and GM and other "old" industries that are struggling. Today, Sprint Nextel Corp. announced that the will be doing away with its defined-benefits retirement plan and offering employees a 401(k) plan to which the company will contribute 5%. Sprint Nextel joins IBM and Aloca in nixing defined-benefits plans for employees. Boeing Machinists are on strike trying to prevent Boeing from doing the same thing for new hires.
So while Bush and his merry band of PR hacks run around telling us that the economy is doing just fine, remember that Corporate America is slashing jobs, benefits, and wages. Meanwhile CEO pay continues to climb. And if you're thinking that you'll be fine because you're part of the "ownership" society, just remember that the Dow Jones Industrial Average is lower today than it was before Bush took the oath of office.
It seems the Bush recovery is just spinning along according to plan. Those tax cuts for the filthy rich are doing their job of stoking the U.S. economic engine. Reuters.com reports that Ford Motor Company will eliminate "30,000 jobs and shed more than a quarter of its production capacity." And it's just not Ford and GM and other "old" industries that are struggling. Today, Sprint Nextel Corp. announced that the will be doing away with its defined-benefits retirement plan and offering employees a 401(k) plan to which the company will contribute 5%. Sprint Nextel joins IBM and Aloca in nixing defined-benefits plans for employees. Boeing Machinists are on strike trying to prevent Boeing from doing the same thing for new hires.
So while Bush and his merry band of PR hacks run around telling us that the economy is doing just fine, remember that Corporate America is slashing jobs, benefits, and wages. Meanwhile CEO pay continues to climb. And if you're thinking that you'll be fine because you're part of the "ownership" society, just remember that the Dow Jones Industrial Average is lower today than it was before Bush took the oath of office.
Because You Can Always Trust Corporations...
While BushCo is upping the scrutiny on the working poor, it turns a blind eye to corporate America. Companies that pump natural gas from federal lands are supposed to pay the government royalties based on the value of the gas they extract. The New York Times reports some funny business going on.
While BushCo is upping the scrutiny on the working poor, it turns a blind eye to corporate America. Companies that pump natural gas from federal lands are supposed to pay the government royalties based on the value of the gas they extract. The New York Times reports some funny business going on.
The Interior Department, using the numbers given by companies paying royalties, said the average sale price of natural gas on federal leases was $5.62 per thousand cubic feet in fiscal 2005, which ended Sept. 30.Johnnie M. Burton, director of the Interior Department's Minerals Management Service, explained the lack of audits this way,
By contrast, Exxon told shareholders that it received about $6.88 per thousand cubic feet in the nine months that ended Sept. 30. Chevron said its average price in that period was $6.49. Kerr-McGee, which suffered huge losses from hedging against a drop in prices, nonetheless said it still received an average price of $6.59.
"I can't answer because I don't know," she said in an interview. "We don't look at S.E.C. filings. We don't have enough staff to do all of that. If we were to do that, then we would have to have more staff and more budget. You know, there is such a thing as budget constraint, and it's been real tough, let me tell you."That is unless you're the IRS auditing the working poor. We're borrowing billions of dollars from foreign investors, yet BushCo is letting millions, if not billions of dollars slip away while oil and gas companies laugh all the way to the bank.
Friday, January 20, 2006
That Bush Economy
On January 20, 2001 George W. Bush became the 43rd President of the United States. On Friday, January 19, 2001 the Dow Jones Industrial Average was 10678.28, having gained 93.94 points, mostly due to IBM's 75 plus point rise. For the year the market was down 1% after losing 6% in 2000. Analysts predicted a stellar year for the markets and by implication the economy as a whole. Andy Brooks, head of the stock trading unit at T. Rowe Price said,
Light, Sweet Crude ended the day trading at $68.48/barrel. Five years ago the same barrel traded at $30.45. That's a lot of inflation.
Now, weren't those tax cuts for the billionaires supposed to do wonders for the economy? Weren't those tax cuts supposed to fuel an economic recovery? Hmmm. Five years of tax cuts and the Dow Jones Industrial Average is almost ten points lower? Sure sounds like a robust economy to me. I hate to break it to old Andy Brooks, but it looks like the train never left the station.
On January 20, 2001 George W. Bush became the 43rd President of the United States. On Friday, January 19, 2001 the Dow Jones Industrial Average was 10678.28, having gained 93.94 points, mostly due to IBM's 75 plus point rise. For the year the market was down 1% after losing 6% in 2000. Analysts predicted a stellar year for the markets and by implication the economy as a whole. Andy Brooks, head of the stock trading unit at T. Rowe Price said,
We are starting to get some good earnings numbers coming through, and there is a feeling in this marketplace that you had better get on the train or you are going to be left behind. (Wall Street Journal. (Eastern edition). New York, N.Y.: Jan 19, 2001. pg. C.1)Today, five years later, the New York Times reports the Dow Jones Industrial Average standing at 10,667.39 after dropping 213.32 (a mere 2%), canceling out all of the gains for the year.
Light, Sweet Crude ended the day trading at $68.48/barrel. Five years ago the same barrel traded at $30.45. That's a lot of inflation.
Now, weren't those tax cuts for the billionaires supposed to do wonders for the economy? Weren't those tax cuts supposed to fuel an economic recovery? Hmmm. Five years of tax cuts and the Dow Jones Industrial Average is almost ten points lower? Sure sounds like a robust economy to me. I hate to break it to old Andy Brooks, but it looks like the train never left the station.
Thursday, January 19, 2006
You're in the Army Now...
If you're having trouble fighting the battle of the bulge or sticking to those New Year's resolutions to drop a few pounds and get in shape there is good news. Faced with growing recruitment shortfalls the New York Times reports that the Army will "raise the top age for recruits to 42 from 35." Just what every guy or gal facing a slowing metabolism needs, a few weeks in basic training followed by a tour of duty in Iraq or maybe even Iran to help shed the pounds and get them in fighting trim. The new recruitment push comes with a bonus of up to $40,000 to help pay off those holiday bills and/or student loans.
I can see the ad campaign now . . . "struggling with those holiday bills?. . .falling behind on your credit card payments?. . .student loan payments looming?. . .Are you over 30 and overweight?. . ."
If you're having trouble fighting the battle of the bulge or sticking to those New Year's resolutions to drop a few pounds and get in shape there is good news. Faced with growing recruitment shortfalls the New York Times reports that the Army will "raise the top age for recruits to 42 from 35." Just what every guy or gal facing a slowing metabolism needs, a few weeks in basic training followed by a tour of duty in Iraq or maybe even Iran to help shed the pounds and get them in fighting trim. The new recruitment push comes with a bonus of up to $40,000 to help pay off those holiday bills and/or student loans.
I can see the ad campaign now . . . "struggling with those holiday bills?. . .falling behind on your credit card payments?. . .student loan payments looming?. . .Are you over 30 and overweight?. . ."
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