By MANIFESTO JOE
As the countdown to Bush as ex-"president" begins, it might be good to put into context why some Americans, even some U.S. historians, regard Il Doofus as the worst "president" of modern times.
The federal deficit for the current fiscal year is being projected at $1.2 trillion. That's more than the entire national debt was at the time Jimmy Carter left office in January 1981.
The Congressional Budget Office report lays much of the blame for this spike on lower tax revenues due to the recession, and on $400 billion spent to bail out Fannie Mae, Freddie Mac and various financial institutions amid the mortgage crisis. Bush policies did a great deal to contribute to all of the above, but that's another post. For now, let's stick to the budget.
The deficit for fiscal 2007-08 was about $455 billion, consistent in real dollars with what was being run annually during the Reagan and Bush I presidencies. It's not too shocking, until you consider that Bush II inherited what had been the largest surplus the federal government has ever run, some $230 billion in fiscal 1999-2000, from departing President Bill Clinton's administration.
The surplus decreased to $158 billion during fiscal 2000-01, which Bush presided over some of. Bush apologists have tried to make an end run out of this, saying that declining revenues due to a briefly sour economy were responsible. They've also pointed out that the Clinton surpluses occurred even though federal tax cuts were passed in 1997, an apparent argument for supply-side policies.
That's fair enough, up to a point. But by 2001-02, the federal government was in the red again, and that continued year after year until the aforementioned $455 billion deficit was reached. How did this happen?
Bush spent the first months of his presidency pushing tax bonanzas, mainly for his rich friends, through the Congress, along with scraps from the rich man's table for the rest of us, amounting to $300 per person. His economic plan basically rolled back the relatively modest Clinton tax increases on the wealthy, passed by the narrowest of margins in 1993.
Students of fiscal policy know that it's anything but simple, but a few policy effects during this administration seem clear. It didn't take long to turn surpluses into deficits, and arguments that this isn't related to tax policy are, at the very least, unconvincing.
Then, after 9-11, Bush the "decider" decided to take the country to war(s). The first one, in Afghanistan, seemed and still seems like a defensible action, despite the toll on the Afghan people. The second, the March 2003 invasion of Iraq, was in hindsight clearly elective. Aside from being an act of aggression, it turned out to be one of the most expensive mistakes a U.S. administration has ever made.
According to a July 2008 update, military operations alone in Iraq and Afghanistan have cost $872.6 billion. Some $661.1 billion of that was for ops in Iraq. Source: Congressional Research Service data.
Even conservatives need to put this into perspective. Would Winston Churchill have held fast to big tax cuts for the wealthy during an expensive war, and even have audaciously pushed for more such cuts?
George W. Bush did. And in so doing, the U.S. was set up, and knocked down like bowling pins, for the $1.2 trillion annual deficit we now face. Now tell me that, as a "president," this buffoon didn't suck great big green ones, with warts on them. His decisions were consistently the worst that could have been made, and yet he stubbornly continues to defend them. I don't think future generations will find his defense convincing.
Manifesto Joe is an underground writer living in Texas. Check out his blog at Manifesto Joe's Texas Blues.
Saturday, January 10, 2009
Friday, December 19, 2008
Rick Warren's Hero, W.A. Criswell, Was Fierce Foe of Desegregation in the 1950s
By MARC McDONALD
Rick Warren is a big fan of the late Southern Baptist pastor, W.A. Criswell (1909–2002). Warren once wrote, "In fact, I believe W.A. Criswell was the greatest American pastor of the 20th Century."
And just who is this pastor, who Warren believes is worth of such praise?
Criswell, like Warren, was a pastor and author. He was a president of the Southern Baptist Convention. And he was regarded by many as a major figure behind the right-wing fundamentalist takeover of the Southern Baptist Convention, beginning in the 1960s.
Oh, and early in his career, Criswell was a racist bigot. In fact, like Warren, Criswell used his twisted interpretation of the Bible to try to defend his bigotry.
In 1956, Criswell railed against the Supreme Court's landmark Brown v. Board of Education ruling. Integration, Criswell argued, was "foolishness" and "idiocy."
Criswell saved some of his harshest words for the NAAACP. In one crude remark, he made a clumsy attempt at humor that wouldn't have been out of place at a KKK rally:
"Why the NAACP has got those East Texans on the run so much," he said, "that they dare not pronounce the word 'chigger' any longer. It has to be 'cheegro.'(sic)"
All white Southerners wanted, Criswell argued, was to be simply left alone:
"Don't force me by law, by statute, by Supreme Court decision ... to cross over in those intimate things where I don't want to go. Let me build my life. Let me have my church. Let me have my school. Let me have my friends. Let me have my home. Let me have my family"
Indeed, reading quotes like this makes it clear that Criswell believed that Southern whites were the victims and that they were the ones whose rights were somehow being infringed.
It's language like this that eerily echoes Warren's own twisted logic that the suppression of bigotry somehow leads to persecution of Christians.
An example of this is when Warren recently claimed he supported Proposition 8 because of free-speech, of all things. He claimed that "any pastor could be considered doing hate speech ... if he shared his views that homosexuality wasn't the most natural way for relationships."
Criswell later distanced himself from his 1950s statements on race and desegregation. But the fact is, in the 1950s, he was most definitely fiercely opposed to integration and used twisted interpretations of Bible to defend his racist bigotry.
It's clear that Warren is following in Criswell's footsteps when he uses Scripture to try to justify his own bigoted views.
Rick Warren is a big fan of the late Southern Baptist pastor, W.A. Criswell (1909–2002). Warren once wrote, "In fact, I believe W.A. Criswell was the greatest American pastor of the 20th Century."
And just who is this pastor, who Warren believes is worth of such praise?
Criswell, like Warren, was a pastor and author. He was a president of the Southern Baptist Convention. And he was regarded by many as a major figure behind the right-wing fundamentalist takeover of the Southern Baptist Convention, beginning in the 1960s.
Oh, and early in his career, Criswell was a racist bigot. In fact, like Warren, Criswell used his twisted interpretation of the Bible to try to defend his bigotry.
In 1956, Criswell railed against the Supreme Court's landmark Brown v. Board of Education ruling. Integration, Criswell argued, was "foolishness" and "idiocy."
Criswell saved some of his harshest words for the NAAACP. In one crude remark, he made a clumsy attempt at humor that wouldn't have been out of place at a KKK rally:
"Why the NAACP has got those East Texans on the run so much," he said, "that they dare not pronounce the word 'chigger' any longer. It has to be 'cheegro.'(sic)"
All white Southerners wanted, Criswell argued, was to be simply left alone:
"Don't force me by law, by statute, by Supreme Court decision ... to cross over in those intimate things where I don't want to go. Let me build my life. Let me have my church. Let me have my school. Let me have my friends. Let me have my home. Let me have my family"
Indeed, reading quotes like this makes it clear that Criswell believed that Southern whites were the victims and that they were the ones whose rights were somehow being infringed.
It's language like this that eerily echoes Warren's own twisted logic that the suppression of bigotry somehow leads to persecution of Christians.
An example of this is when Warren recently claimed he supported Proposition 8 because of free-speech, of all things. He claimed that "any pastor could be considered doing hate speech ... if he shared his views that homosexuality wasn't the most natural way for relationships."
Criswell later distanced himself from his 1950s statements on race and desegregation. But the fact is, in the 1950s, he was most definitely fiercely opposed to integration and used twisted interpretations of Bible to defend his racist bigotry.
It's clear that Warren is following in Criswell's footsteps when he uses Scripture to try to justify his own bigoted views.
Sunday, December 14, 2008
Iraqi Shoe-Throwing Journalist Speaks For A Lot Of Us
By MARC McDONALD
I'm not sure what the specific grievance was that motivated an Iraqi journalist to throw two shoes at George W. Bush during a news conference in Baghdad. Throwing shoes at someone is a considered a supreme insult in the Middle East.
But I do know this: if I could speak to that Iraqi journalist, I'd tell him that I share his contempt for Bush.
Indeed, I wish those shoes had hit Bush squarely in the middle of his smirking face.
After all, Bush now has only a few weeks left in office. Bush will leave the White House without ever having faced any consequences whatsoever for his reckless, illegal, immoral invasion of Iraq.
Throughout history, other world leaders have faced serious consequences for comparable crimes. They've faced international court tribunals. They've been tried in The Hague. They've gone to jail. In some cases, they've even faced the firing squad.
But thanks to the spineless, wimpy Democrats, Bush will apparently never face any consequences for the Iraq War, a $3 trillion fiasco that has resulted in the deaths of over 1 million men, women and children.
No, Bush will any face any consequences for the Iraq horror that he unleashed. He'll never be arrested. He'll never be tried. He'll never face justice.
Indeed (like all ex-presidents) Bush can look forward to a nice, cushy, lucrative career after the White House. Presidents generally land multi-million-dollar book deals (and thanks to ghost writers, they don't even have to bother to write their books).
And ex-presidents can generally command enormous multi-million-dollar fees on the lecture circuit. (Note that although most of America despises Bush, there are still plenty of Kool-Aid-drinking Bush cultists who will glad shell out money to hear him speak).
So like Jack the Ripper, Bush is a monster with blood on his hands who is going to get off scot-free and never face any repercussions for his crimes.
Like I said, the shoe-throwing Iraqi journalist speaks for a lot of us in his contempt for Bush.
I'm not sure what the specific grievance was that motivated an Iraqi journalist to throw two shoes at George W. Bush during a news conference in Baghdad. Throwing shoes at someone is a considered a supreme insult in the Middle East.
But I do know this: if I could speak to that Iraqi journalist, I'd tell him that I share his contempt for Bush.
Indeed, I wish those shoes had hit Bush squarely in the middle of his smirking face.
After all, Bush now has only a few weeks left in office. Bush will leave the White House without ever having faced any consequences whatsoever for his reckless, illegal, immoral invasion of Iraq.
Throughout history, other world leaders have faced serious consequences for comparable crimes. They've faced international court tribunals. They've been tried in The Hague. They've gone to jail. In some cases, they've even faced the firing squad.
But thanks to the spineless, wimpy Democrats, Bush will apparently never face any consequences for the Iraq War, a $3 trillion fiasco that has resulted in the deaths of over 1 million men, women and children.
No, Bush will any face any consequences for the Iraq horror that he unleashed. He'll never be arrested. He'll never be tried. He'll never face justice.
Indeed (like all ex-presidents) Bush can look forward to a nice, cushy, lucrative career after the White House. Presidents generally land multi-million-dollar book deals (and thanks to ghost writers, they don't even have to bother to write their books).
And ex-presidents can generally command enormous multi-million-dollar fees on the lecture circuit. (Note that although most of America despises Bush, there are still plenty of Kool-Aid-drinking Bush cultists who will glad shell out money to hear him speak).
So like Jack the Ripper, Bush is a monster with blood on his hands who is going to get off scot-free and never face any repercussions for his crimes.
Like I said, the shoe-throwing Iraqi journalist speaks for a lot of us in his contempt for Bush.
Monday, December 08, 2008
Chicago Factory Sit-In: The Dawn of a New Era For Unions in America?
By MANIFESTO JOE
This is an example of why a bailout, any bailout, is fundamentally a no-win situation for the taxpayer.
You may have heard news that workers at the Republic Windows and Doors factory in Chicago occupied the building and began a sit-in after the factory shut down Friday on three days' notice. Last time I checked, they're still there.
The workers say the factory was closed in violation of a law that requires a 60-day notice for a shutdown. They say they won't leave without assurances that they'll get severance and vacation pay.
What you may not have heard is the reason for the abrupt shutdown. The company's creditor, Bank of America, canceled Republic's line of credit. Republic's sales have tumbled in the sour economy, and with no line of credit, CEO Rich Gillman said the company had "no choice but to shut our doors," The Associated Press reported.
This is the same Bank of America that got $25 billion of the federal government's $700 billion financial bailout. That's over 3.5% of the total package. And they can't afford to extend a line of credit so that 250 mostly Hispanic wage earners in Chicago can keep their jobs?
SOCIALISM FOR THE RICH, "FREE" MARKET BUGGERY OF THE POOR
The Associated Press also reported that Bank of America, in a statement Saturday, said that it isn't responsible for Republic's financial obligations to its employees.
Exactly for whom, and to whom, is Bank of America, sucking at the federal tit to the tune of $25 billion, responsible and accountable?
It's in the public interest that people can get and hold jobs. These people can't pay taxes when they're in the unemployment line. Since this largess is coming from the taxpayers, we've got a perverse situation of collectivist capitalism for the bankers, and the icy sidewalk for the faceless mass of suckers who put up money for the bailout.
WHITHER THE BAILOUTS?
Along with many other people, I held my nose and voiced support for the bailout as a necessary evil. But this case illustrates why taxpayer-funded bailouts end up being no-win situations. It's a sort of blackmail -- the national economy would fall into a downward spiral of Depression proportions if financial institutions the size of Bank of America were allowed to go under. They seem to know this, and their behavior is commensurately unaccountable.
Chicago will easily survive a loss of 250 jobs at Republic. But multiply that scenario across the country, with many hundreds of struggling companies and overextended creditors, and you get a mental picture of what the U.S. economy is facing.
This is an example of why bailouts need to have many strings attached to them, and very sturdy ones. In exchange for that $25 billion, the federal government ought to have pretty much leverage over what Bank of America uses it for. Republic operates at the level of a few million dollars per month, not in the billions like BOA. This is a microcosm of the kind of abuse that the many have endured, at the hands of the few, for decades.
A UNION SUNRISE?
A bright spot is that this incident may become a rallying point for the revival of a union movement in America. Here's more from the AP report:
"Across cultures, religions, union and nonunion, we all say this bailout was a shame," said Richard Berg, president of Teamsters Local 743. "If this bailout should go to anything, it should go to the workers of this country."
Outside the plant, protesters wore stickers and carried signs that said, "You got bailed out, we got sold out."
Leah Fried, an organizer with United Electrical Workers, obliquely compared the sit-in to the landmark 1936-37 General Motors sit-down strike in Flint, Mich., which helped unionize the auto industry. (Yeah, I know, there's the automakers bailout. That's another post.)
"We're doing something we haven't done since the 1930s, so we're trying to make it work," AP quoted Fried as saying. She pointed out that the occupying workers have been shoveling snow and cleaning the building during the sit-in.
Realistically, the financial bailout is a bitter concoction we're going to have to gulp down. But that doesn't mean we have to like it. And, for a dramatic change from '80s and '90s stupor, a lot of Americans seem to be waking up from virtual date-rape drugs and realizing who's been carrying out the assault on working people for many years.
I hope the 53-46% mandate for Barack Obama was only the beginning. Republic should trigger a reborn union movement in this country. Against the kinds of monolithic entities we now face, like Bank of America, lots of people getting together again is the only chance we have.
Manifesto Joe is an underground writer living in Texas. Check out his blog at Manifesto Joe's Texas Blues.
This is an example of why a bailout, any bailout, is fundamentally a no-win situation for the taxpayer.
You may have heard news that workers at the Republic Windows and Doors factory in Chicago occupied the building and began a sit-in after the factory shut down Friday on three days' notice. Last time I checked, they're still there.
The workers say the factory was closed in violation of a law that requires a 60-day notice for a shutdown. They say they won't leave without assurances that they'll get severance and vacation pay.
What you may not have heard is the reason for the abrupt shutdown. The company's creditor, Bank of America, canceled Republic's line of credit. Republic's sales have tumbled in the sour economy, and with no line of credit, CEO Rich Gillman said the company had "no choice but to shut our doors," The Associated Press reported.
This is the same Bank of America that got $25 billion of the federal government's $700 billion financial bailout. That's over 3.5% of the total package. And they can't afford to extend a line of credit so that 250 mostly Hispanic wage earners in Chicago can keep their jobs?
SOCIALISM FOR THE RICH, "FREE" MARKET BUGGERY OF THE POOR
The Associated Press also reported that Bank of America, in a statement Saturday, said that it isn't responsible for Republic's financial obligations to its employees.
Exactly for whom, and to whom, is Bank of America, sucking at the federal tit to the tune of $25 billion, responsible and accountable?
It's in the public interest that people can get and hold jobs. These people can't pay taxes when they're in the unemployment line. Since this largess is coming from the taxpayers, we've got a perverse situation of collectivist capitalism for the bankers, and the icy sidewalk for the faceless mass of suckers who put up money for the bailout.
WHITHER THE BAILOUTS?
Along with many other people, I held my nose and voiced support for the bailout as a necessary evil. But this case illustrates why taxpayer-funded bailouts end up being no-win situations. It's a sort of blackmail -- the national economy would fall into a downward spiral of Depression proportions if financial institutions the size of Bank of America were allowed to go under. They seem to know this, and their behavior is commensurately unaccountable.
Chicago will easily survive a loss of 250 jobs at Republic. But multiply that scenario across the country, with many hundreds of struggling companies and overextended creditors, and you get a mental picture of what the U.S. economy is facing.
This is an example of why bailouts need to have many strings attached to them, and very sturdy ones. In exchange for that $25 billion, the federal government ought to have pretty much leverage over what Bank of America uses it for. Republic operates at the level of a few million dollars per month, not in the billions like BOA. This is a microcosm of the kind of abuse that the many have endured, at the hands of the few, for decades.
A UNION SUNRISE?
A bright spot is that this incident may become a rallying point for the revival of a union movement in America. Here's more from the AP report:
"Across cultures, religions, union and nonunion, we all say this bailout was a shame," said Richard Berg, president of Teamsters Local 743. "If this bailout should go to anything, it should go to the workers of this country."
Outside the plant, protesters wore stickers and carried signs that said, "You got bailed out, we got sold out."
Leah Fried, an organizer with United Electrical Workers, obliquely compared the sit-in to the landmark 1936-37 General Motors sit-down strike in Flint, Mich., which helped unionize the auto industry. (Yeah, I know, there's the automakers bailout. That's another post.)
"We're doing something we haven't done since the 1930s, so we're trying to make it work," AP quoted Fried as saying. She pointed out that the occupying workers have been shoveling snow and cleaning the building during the sit-in.
Realistically, the financial bailout is a bitter concoction we're going to have to gulp down. But that doesn't mean we have to like it. And, for a dramatic change from '80s and '90s stupor, a lot of Americans seem to be waking up from virtual date-rape drugs and realizing who's been carrying out the assault on working people for many years.
I hope the 53-46% mandate for Barack Obama was only the beginning. Republic should trigger a reborn union movement in this country. Against the kinds of monolithic entities we now face, like Bank of America, lots of people getting together again is the only chance we have.
Manifesto Joe is an underground writer living in Texas. Check out his blog at Manifesto Joe's Texas Blues.
Monday, November 10, 2008
Poll: Bush Less Popular Than Nixon In Final Days
From Politico:
With 71 days left in office, President Bush is less popular than President Nixon was at the time of his resignation, according to data released Monday by CNN and Opinion Research Corporation.
The new poll, taken Thursday through Sunday, showed an approval rating of 24 percent and a disapproval rating of 76 percent.
CNN released a chart showing presidential "disapproval" ratings in CNN or Gallup polls for each president dating back to Harry Truman. This list shows the percentage of Americans who disapproved of the way each president was handling his job.
More here.
With 71 days left in office, President Bush is less popular than President Nixon was at the time of his resignation, according to data released Monday by CNN and Opinion Research Corporation.
The new poll, taken Thursday through Sunday, showed an approval rating of 24 percent and a disapproval rating of 76 percent.
CNN released a chart showing presidential "disapproval" ratings in CNN or Gallup polls for each president dating back to Harry Truman. This list shows the percentage of Americans who disapproved of the way each president was handling his job.
More here.
Friday, November 07, 2008
Despite GM's Staggering Losses, CEO Still Rakes In Millions
By MARC McDONALD
It's difficult to imagine a more poorly run corporation than General Motors these days. The company reported a $2.5 billion loss in the third quarter and warned that it could run out of cash in 2009. GM's share price is down 78 percent this year.
A lot of people at GM are feeling a lot of pain these days. GM has been shedding jobs left and right and announced it will lay off 3,600 workers beginning early next year.
One person who is not feeling the pain, though, is GM Chief Executive Rick Wagoner.
This year, Wagoner will pull down a salary of $2.2 million, in addition to other CEO perks. And last year, Wagoner's total compensation was $14.4 million. That works out to $39,452.05 per day, including weekends. (Note that in 2007, GM lost a staggering $38.7 billion).
And now, Wagoner has the gall to push for a government bailout for his company. In other words, Wagoner is a firm believer in the "capitalist" system when it comes to defending his obscene pay. But he apparently has no qualms about asking for billions of our tax dollars to help fix his sinking company.
Perhaps the most troubling aspect of all this is that GM's woes are entirely self-inflicted and the result of poor management over the years. While Toyota was perfecting hybrid technology for its now wildly popular Prius, GM was betting the farm on clunky gas-guzzling SUVs. Now that the latter are out of favor, thanks to sky-high gas prices, GM is on the ropes, because it was too short-sighted and stupid to have a "Plan B."
Actually, I guess GM does have a Plan B---stick out its hand and beg for the government to give it billions of our tax dollars.
So in the end, all of us will wind up paying for this fiasco. GM's workers, who're being laid off by the thousands will suffer the brunt of the pain. We taxpayers will also likely suffer. In fact, just about everyone is going to suffer, in the end. That is, except for the people directly responsible for GM's mess: the over-paid GM executives like Wagoner whose short-sightedness and poor decisions led to the fiasco at GM in the first place.
What's even more astonishing about this story is that Wagoner's fat paychecks dwarf the pay of Toyota's executives (who have traditionally earned only a small fraction of what their Detroit CEO counterparts earn).
Although Japanese CEO pay is not publicly disclosed, it is estimated to be only a fraction of what U.S. automaker CEOs make. For example, the estimated pay of Toyota's CEO in 2005 was under $1 million.
In fact, in recent years, U.S. CEOs have made vastly more than what their counterparts make in other nations. For example, in 2005, a typical Japanese executive made 11 times what a typical Japanese worker earned. In the U.S., the average CEO pulled down a staggering 475 times what the typical American worker earned.
It's difficult to imagine a more poorly run corporation than General Motors these days. The company reported a $2.5 billion loss in the third quarter and warned that it could run out of cash in 2009. GM's share price is down 78 percent this year.
A lot of people at GM are feeling a lot of pain these days. GM has been shedding jobs left and right and announced it will lay off 3,600 workers beginning early next year.
One person who is not feeling the pain, though, is GM Chief Executive Rick Wagoner.
This year, Wagoner will pull down a salary of $2.2 million, in addition to other CEO perks. And last year, Wagoner's total compensation was $14.4 million. That works out to $39,452.05 per day, including weekends. (Note that in 2007, GM lost a staggering $38.7 billion).
And now, Wagoner has the gall to push for a government bailout for his company. In other words, Wagoner is a firm believer in the "capitalist" system when it comes to defending his obscene pay. But he apparently has no qualms about asking for billions of our tax dollars to help fix his sinking company.
Perhaps the most troubling aspect of all this is that GM's woes are entirely self-inflicted and the result of poor management over the years. While Toyota was perfecting hybrid technology for its now wildly popular Prius, GM was betting the farm on clunky gas-guzzling SUVs. Now that the latter are out of favor, thanks to sky-high gas prices, GM is on the ropes, because it was too short-sighted and stupid to have a "Plan B."
Actually, I guess GM does have a Plan B---stick out its hand and beg for the government to give it billions of our tax dollars.
So in the end, all of us will wind up paying for this fiasco. GM's workers, who're being laid off by the thousands will suffer the brunt of the pain. We taxpayers will also likely suffer. In fact, just about everyone is going to suffer, in the end. That is, except for the people directly responsible for GM's mess: the over-paid GM executives like Wagoner whose short-sightedness and poor decisions led to the fiasco at GM in the first place.
What's even more astonishing about this story is that Wagoner's fat paychecks dwarf the pay of Toyota's executives (who have traditionally earned only a small fraction of what their Detroit CEO counterparts earn).
Although Japanese CEO pay is not publicly disclosed, it is estimated to be only a fraction of what U.S. automaker CEOs make. For example, the estimated pay of Toyota's CEO in 2005 was under $1 million.
In fact, in recent years, U.S. CEOs have made vastly more than what their counterparts make in other nations. For example, in 2005, a typical Japanese executive made 11 times what a typical Japanese worker earned. In the U.S., the average CEO pulled down a staggering 475 times what the typical American worker earned.
Wednesday, November 05, 2008
Al Franken's Bid For Senate Still Alive
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From the Associated Press:
WASHINGTON — The Associated Press is uncalling the Minnesota Senate race.
Republican Sen. Norm Coleman finished ahead of Democrat Al Franken early Wednesday in the final vote count, but his 571-vote margin falls within the state's mandatory recount law. That law requires a recount any time the margin between the top two candidates is less than one-half of one percent.
The AP called the race prematurely.
Minnesota Secretary of State Mark Ritchie said the recount won’t begin until mid-November at the earliest and will probably stretch into December. It will involve local election officials from around the state.
In this video, Franken makes a strong case for his campaign, as well as what the Democratic Party stands for. Franken's arguments are so compelling that I really have to wonder: who the f*ck ARE these morons who vote GOP these days?
.
From the Associated Press:
WASHINGTON — The Associated Press is uncalling the Minnesota Senate race.
Republican Sen. Norm Coleman finished ahead of Democrat Al Franken early Wednesday in the final vote count, but his 571-vote margin falls within the state's mandatory recount law. That law requires a recount any time the margin between the top two candidates is less than one-half of one percent.
The AP called the race prematurely.
Minnesota Secretary of State Mark Ritchie said the recount won’t begin until mid-November at the earliest and will probably stretch into December. It will involve local election officials from around the state.
In this video, Franken makes a strong case for his campaign, as well as what the Democratic Party stands for. Franken's arguments are so compelling that I really have to wonder: who the f*ck ARE these morons who vote GOP these days?
.
Tuesday, November 04, 2008
Election 2008 Voting Information From MoveOn.org
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Today's the big day. This is from MoveOn.org; it includes a lot of useful info for voters:
Election 2008 Voting Information
Today, November 4th, is Election Day! Remember to vote---not just for Barack Obama, but for Congressional, state, and local candidates as well.
Where and when do I vote?
Find your polling place, voting times, and other important information by checking out these sites and the hotline below. These resources are good, but not perfect. To be doubly sure, you can also contact your local elections office.
What should I do before I go?
What if something goes wrong?
Want to do more?
Now, everybody go vote!!!
Today's the big day. This is from MoveOn.org; it includes a lot of useful info for voters:
Election 2008 Voting Information
Today, November 4th, is Election Day! Remember to vote---not just for Barack Obama, but for Congressional, state, and local candidates as well.
Where and when do I vote?
Find your polling place, voting times, and other important information by checking out these sites and the hotline below. These resources are good, but not perfect. To be doubly sure, you can also contact your local elections office.
- Obama's VoteForChange site: voteforchange.com
- League of Women Voters' site: vote411.org/pollfinder.php
- Obama's voter hotline: 877-US4-OBAMA (877-874-6226)
What should I do before I go?
- After you've entered your address on either Vote For Change or Vote411, read the voting instructions and special rules for your state.
- Voting ID laws vary from state to state, but if you have ID, bring it.
- Check out all the voting myths and misinformation to look out for: Vote411
What if something goes wrong?
- Not on the voter list? Make sure you're at the right polling place, then demand a provisional ballot.
- If you're voting on an electronic machine with a paper record, verify that the record is accurate.
- Need legal help? Call 1-866-OUR-VOTE.
- If you encounter a problem, try to videotape the situation and submit it to VideoTheVote.org
Want to do more?
- Text all of your friends: "Vote Obama today! Pass it on!"
- Make calls from home for Obama.
Now, everybody go vote!!!
Sunday, November 02, 2008
Republicans Who Call Obama A Socialist Are Showing Either Ignorance Or Desperation
By MANIFESTO JOE
In the demented spirit of a godfather of American fascism, Joe McCarthy, plenty of Republicans, led by McCain attack dog Sarah Palin, are hurling the dreaded "S" word at Barack Obama. It's right-wing regurgitation.
The dreaded word in McCarthy's time was "communist." Now it is "socialist," and the far right bases this on Obama's clearly stated intention to enact very limited income redistribution for the benefit of working-class and middle-income Americans.
This misnomer reveals the stupidity of those who use it with any sincerity, and the desperation of those who actually took political science and economics in college and surely know better.
Socialism defined
Here's a basic dictionary definition of "socialism," from Webster's New World College Dictionary:
1. any of various theories or systems of the ownership and operation of the means of production and distribution by society or the community rather than by private individuals, with all members of the society or the community sharing in the work and the products.
Please note that the crucial part of the definition has to the with "the means of production and distribution." I am unaware that Obama has ever advocated nationalization of industries, Israeli-style kibbutzes or anything else that characterizes bona fide socialism. He is clearly, like almost all other American progressives, a welfare capitalist. He favors a system of private ownership, but with restraints, checks and balances, and limited intervention in the public interest.
Many conservatives, being ignorant, disingenuous, or both, have greatly expanded the definition of "socialism" to include any and all kinds of income redistribution that works for the benefit of those roughly at or below median income. To broadly paraphrase one of their heroes, Adam Smith, the richer people among them say nothing of their own gains; they complain only of those of other people.
Any time any public entity, whether a local hospital district or the federal government, makes any decision about taxation and/or appropriates money for anything, income is redistributed. It's a question of to whom.
What Americans have seen for about 35 years, more rapidly at times but always steadily, has been socialism for the rich, certainly by the "broader" definition of the right. A federal tax structure that was once progressive, and remains so on paper in some senses with the retention of brackets, has been gradually rendered impotent by the fine scalpel of legislators and tax lawyers. Most corporations now pay little if any income tax, and the very wealthy have myriad shelters with which they happily dodge responsibility for upkeep of the infrastructure, or even for bankrolling the latest war meant to increase their profits.
Socialism for the rich
As for socialism for the rich, I won't even go into corporate welfare, intrinsic advantages of the rich in the legal system, the system of legal bribery we call campaign finance, etc. I'm just sticking with their definition -- redistribution of income. The distribution of wealth is more unequal than it has been since 1929. (Remember what happened that year?) And this hasn't happened by accident. The '80s supply-side economists led by Arthur Laffer and David Stockman were quite above board in their intention to favor corporations and the rich in taxation, in the apparent belief that such policy would spur investment, create jobs, actually increase tax revenue, and result in "trickle-down."
For the most part, with some interruptions during the Clinton administration, the program of socialism for the rich was put over, and with accompanying indoctrination against anything faintly liberal or progressive. The New Deal was ancient history; and in the minds of many, the opportunistic right succeeded in perversely melding it with the failure of Soviet socialism, or with anything that strayed in the very least from a laissez-faire, supply-side party line.
I stopped being a fan of Ralph Nader after he ensured the presidency for an apocalyptic buffoon like George W. Bush. But Nader said something on a debate show that has stuck with me since: "They (the big corporations) want to socialize their losses and privatize their profits." Never was anything truer said.
Obama, though merely bringing a rather mild bourgeois liberalism back to the table, faces the wrath of fools conned by this right-wing economic nonsense, and the venom of those who would use ignorant "fellow travelers" of the far right to stay in control of the wheel.
But, with two days left until the deciding moment, history appears to be tilting toward Obama. Americans have had 28 years to endure "upscale" socialism. Many who don't listen to frothing-at-the-mouth rhetoric know firsthand what such policies have done to them. Indications are that a large turnout of such folks will hugely favor Obama.
Here's a link that shines more light on the subject. There aren't many real socialists left in America, but here's what their presidential candidate thinks about Obama. And, here's one more from the MSM, its own nasty self.
Manifesto Joe is an underground writer living in Texas. Check out his blog at Manifesto Joe's Texas Blues.
In the demented spirit of a godfather of American fascism, Joe McCarthy, plenty of Republicans, led by McCain attack dog Sarah Palin, are hurling the dreaded "S" word at Barack Obama. It's right-wing regurgitation.
The dreaded word in McCarthy's time was "communist." Now it is "socialist," and the far right bases this on Obama's clearly stated intention to enact very limited income redistribution for the benefit of working-class and middle-income Americans.
This misnomer reveals the stupidity of those who use it with any sincerity, and the desperation of those who actually took political science and economics in college and surely know better.
Socialism defined
Here's a basic dictionary definition of "socialism," from Webster's New World College Dictionary:
1. any of various theories or systems of the ownership and operation of the means of production and distribution by society or the community rather than by private individuals, with all members of the society or the community sharing in the work and the products.
Please note that the crucial part of the definition has to the with "the means of production and distribution." I am unaware that Obama has ever advocated nationalization of industries, Israeli-style kibbutzes or anything else that characterizes bona fide socialism. He is clearly, like almost all other American progressives, a welfare capitalist. He favors a system of private ownership, but with restraints, checks and balances, and limited intervention in the public interest.
Many conservatives, being ignorant, disingenuous, or both, have greatly expanded the definition of "socialism" to include any and all kinds of income redistribution that works for the benefit of those roughly at or below median income. To broadly paraphrase one of their heroes, Adam Smith, the richer people among them say nothing of their own gains; they complain only of those of other people.
Any time any public entity, whether a local hospital district or the federal government, makes any decision about taxation and/or appropriates money for anything, income is redistributed. It's a question of to whom.
What Americans have seen for about 35 years, more rapidly at times but always steadily, has been socialism for the rich, certainly by the "broader" definition of the right. A federal tax structure that was once progressive, and remains so on paper in some senses with the retention of brackets, has been gradually rendered impotent by the fine scalpel of legislators and tax lawyers. Most corporations now pay little if any income tax, and the very wealthy have myriad shelters with which they happily dodge responsibility for upkeep of the infrastructure, or even for bankrolling the latest war meant to increase their profits.
Socialism for the rich
As for socialism for the rich, I won't even go into corporate welfare, intrinsic advantages of the rich in the legal system, the system of legal bribery we call campaign finance, etc. I'm just sticking with their definition -- redistribution of income. The distribution of wealth is more unequal than it has been since 1929. (Remember what happened that year?) And this hasn't happened by accident. The '80s supply-side economists led by Arthur Laffer and David Stockman were quite above board in their intention to favor corporations and the rich in taxation, in the apparent belief that such policy would spur investment, create jobs, actually increase tax revenue, and result in "trickle-down."
For the most part, with some interruptions during the Clinton administration, the program of socialism for the rich was put over, and with accompanying indoctrination against anything faintly liberal or progressive. The New Deal was ancient history; and in the minds of many, the opportunistic right succeeded in perversely melding it with the failure of Soviet socialism, or with anything that strayed in the very least from a laissez-faire, supply-side party line.
I stopped being a fan of Ralph Nader after he ensured the presidency for an apocalyptic buffoon like George W. Bush. But Nader said something on a debate show that has stuck with me since: "They (the big corporations) want to socialize their losses and privatize their profits." Never was anything truer said.
Obama, though merely bringing a rather mild bourgeois liberalism back to the table, faces the wrath of fools conned by this right-wing economic nonsense, and the venom of those who would use ignorant "fellow travelers" of the far right to stay in control of the wheel.
But, with two days left until the deciding moment, history appears to be tilting toward Obama. Americans have had 28 years to endure "upscale" socialism. Many who don't listen to frothing-at-the-mouth rhetoric know firsthand what such policies have done to them. Indications are that a large turnout of such folks will hugely favor Obama.
Here's a link that shines more light on the subject. There aren't many real socialists left in America, but here's what their presidential candidate thinks about Obama. And, here's one more from the MSM, its own nasty self.
Manifesto Joe is an underground writer living in Texas. Check out his blog at Manifesto Joe's Texas Blues.
Saturday, October 11, 2008
Obama Hatred At McCain-Palin Rally: "Kill Him!"
.
By MARC McDONALD
Right-wing nutcases are displaying their foaming-at-the-mouth hatred of Barack Obama at McCain-Palin rallies lately. In this video, you can hear one nutjob scream, "Kill Him!"
But should we really be surprised at such unhinged hatred by Republicans?
After all, we've seen violent rhetoric like this before from wingnuts, aimed at Bill and Hillary Clinton. Examples:
In 2003, right-wing nutcase Michael Graham said of Hillary Clinton: "I wanted to bludgeon her with a tire iron."
Such inflammatory language is nothing new for the right-wing. Recall how Ann Coulter once wrote that the debate over Bill Clinton should be about "whether to impeach or assassinate."
Recall also the comment by Jesse Helms in 1994: "Mr. Clinton better watch out if he comes down here. He'd better have a bodyguard."
Or McCain pal G. Gordon Liddy's comment in 1995, when discussing how he'd used stick figures of the Clintons for target practice. "Thought it might improve my aim," he said.
By MARC McDONALD
Right-wing nutcases are displaying their foaming-at-the-mouth hatred of Barack Obama at McCain-Palin rallies lately. In this video, you can hear one nutjob scream, "Kill Him!"
But should we really be surprised at such unhinged hatred by Republicans?
After all, we've seen violent rhetoric like this before from wingnuts, aimed at Bill and Hillary Clinton. Examples:
In 2003, right-wing nutcase Michael Graham said of Hillary Clinton: "I wanted to bludgeon her with a tire iron."
Such inflammatory language is nothing new for the right-wing. Recall how Ann Coulter once wrote that the debate over Bill Clinton should be about "whether to impeach or assassinate."
Recall also the comment by Jesse Helms in 1994: "Mr. Clinton better watch out if he comes down here. He'd better have a bodyguard."
Or McCain pal G. Gordon Liddy's comment in 1995, when discussing how he'd used stick figures of the Clintons for target practice. "Thought it might improve my aim," he said.
Friday, October 10, 2008
Fearmongering Finally Blows Up in GOP's Face
By MARC McDONALD
At one time, fearmongering was the best thing that ever happened to George W. Bush and the NeoCons, as they cynically exploited 9/11 to advance their agenda. But now it's backfiring, as panic and fear fuel the economic meltdown.
For the past seven years, the GOP repeatedly did its best to scare the living bejesus out of the American people.
It's a strategy that worked, time and time again, and even played a key role in returning Bush to the White House in 2004.
The American people have been kept in a state of fear ever since 9/11, thanks to Bush's fearmongering. But it's a strategy that's now backfiring for Bush and the GOP.
Fear, after all, is what fuels stock market crashes and panic selling. And fear is clearly playing a big role in the current economic debacle. Although the underlying economic reasons for the crisis are real enough, it's clear that panic and fear among investors and consumers is making the crisis even worse.
The American people are increasingly afraid of doing anything with their money, outside of stuffing it into a mattress. They don't trust mutual funds. They don't trust banks. They don't trust Wall Street. And they don't trust the Fed. Increasingly, they're embracing the mindset that Americans shared during the 1930s Great Depression.
For seven long years, Bush cynically used the fear of terrorism to manipulate the American people. As a result, Bush even got the American people to initially support his disastrous invasion of Iraq.
Between color-coded terror alerts and the constant scare words and language of fear and confusion, Bush got the American people so scared that they were ready to accept anything he wanted. As a result, Bush got whatever he sought, from shredding the Constitutions to embracing torture as official state policy.
But now it's backfiring. A terrified and fearful American people are simply going to stop spending money. They're going to sell their stocks. They're going to bail out of their mutual funds. And the U.S. is going to enter a lengthy and brutal second Great Depression. By the time this nightmare is over, the U.S. could easily become a Third World-like nation. It will almost certainly lose its status as the world's only economic superpower, as the world's balance of power shifts to East Asia.
And now, along with the Project for the New American Century, the Republican brand is now severely tarnished, perhaps forever.
At one time, fearmongering was the best thing that ever happened to George W. Bush and the NeoCons, as they cynically exploited 9/11 to advance their agenda. But now it's backfiring, as panic and fear fuel the economic meltdown.
For the past seven years, the GOP repeatedly did its best to scare the living bejesus out of the American people.
It's a strategy that worked, time and time again, and even played a key role in returning Bush to the White House in 2004.
The American people have been kept in a state of fear ever since 9/11, thanks to Bush's fearmongering. But it's a strategy that's now backfiring for Bush and the GOP.
Fear, after all, is what fuels stock market crashes and panic selling. And fear is clearly playing a big role in the current economic debacle. Although the underlying economic reasons for the crisis are real enough, it's clear that panic and fear among investors and consumers is making the crisis even worse.
The American people are increasingly afraid of doing anything with their money, outside of stuffing it into a mattress. They don't trust mutual funds. They don't trust banks. They don't trust Wall Street. And they don't trust the Fed. Increasingly, they're embracing the mindset that Americans shared during the 1930s Great Depression.
For seven long years, Bush cynically used the fear of terrorism to manipulate the American people. As a result, Bush even got the American people to initially support his disastrous invasion of Iraq.
Between color-coded terror alerts and the constant scare words and language of fear and confusion, Bush got the American people so scared that they were ready to accept anything he wanted. As a result, Bush got whatever he sought, from shredding the Constitutions to embracing torture as official state policy.
But now it's backfiring. A terrified and fearful American people are simply going to stop spending money. They're going to sell their stocks. They're going to bail out of their mutual funds. And the U.S. is going to enter a lengthy and brutal second Great Depression. By the time this nightmare is over, the U.S. could easily become a Third World-like nation. It will almost certainly lose its status as the world's only economic superpower, as the world's balance of power shifts to East Asia.
And now, along with the Project for the New American Century, the Republican brand is now severely tarnished, perhaps forever.
Tuesday, September 30, 2008
How the American Economy Became a Sleazy Carnival Freak Show
By MARC McDONALD
Whatever happened to the once-mighty American economy?
The United States once had the mightiest economic juggernaut of any nation in history. Our "Arsenal of Democracy" played a big role in winning World War II. During that conflict, we overwhelmed our enemies with a tidal wave of efficient industrial production of everything from bombers to jeeps to battleships.
During the 1950s, America's industrial might was at its peak. We were the richest, most prosperous nation in history. U.S. workers earned the highest wages in the world. We enjoyed the most generous benefits and vacation time of any First World nation. American products, from planes to cars to televisions, were second to none in quality and were in demand worldwide. The Great American Middle Class was a prosperous and growing club that saw its fortunes improve, year after year.
Today, all of this seems like a distant memory. America's economy today is a joke. "Made in the U.S.A." is no longer a symbol of quality. In fact, our nation doesn't make much of anything these days. Our trade deficits are at nightmarish levels. And in three short decades, we've gone from being the world's biggest creditor nation to its biggest debtor nation.
Since we don't manufacture anything these days, all we Americans do these days is buy stuff made in other nations. And we really don't even have the money to do that, so we borrow trillions of dollars from prosperous nations in East Asia.
In fact, the U.S. economy today resembles a sleazy carnival midway. Rather than producing useful goods and services, our Carnival Freak Show Economy these days spends more and more time running scams and swindling people (think Wall Street). We've exported most of the good-paying jobs that sustained our once-mighty middle class. And the gulf between the haves and have-nots has grown to its widest since the infamous Gilded Age of the late 19th century.
A half-century ago, General Motors was the nation's biggest employer. Today it's Wal-Mart, a company that offers such paltry wages and benefits that many of its workers have to file for public assistance just to make ends meet.
And that's just one of the ways that Wal-Mart, and other Fortune 500 companies, pocket corporate welfare. In fact, corporate welfare plays a big role in today's Carnival Freak Show Economy.
Not only have the good middle-class jobs disappeared from the U.S. economy, but ordinary workers who do still have jobs have seen their wages stagnate for the past 30 years. Meanwhile, the richest 1 percent now garner the largest share of the national income since 1929.
One might ask: if the once-great American economy no longer produces anything useful, what exactly does it do these days?
Good question.
Decades ago, America's great corporations were widely admired. Most Americans back then felt they were a positive force in American society. Back then, corporations created good jobs and produced things of value. They also paid taxes (back in the 1950s, for example, corporations paid half of all taxes---today, it's less than 10 percent).
Contrast that to today. Today's biggest corporations, from ExxonMobil to Wal-Mart, are increasingly feared and hated. Many Americans regard them as greedy money-grubbing entities that can't be trusted.
The same could be said of today's CEOs in general. As recently as 1982, the average CEO made around 42 times what the average worker earned. By 2005, CEOs made around 431 times what the average worker earned.
And what, exactly, have CEOs done to earn this phenomenal increase in pay? It's hard to say. In fact, in recent years, there has been an increasingly disconnect between soaring CEO pay and the performance of U.S. corporations.
Take Peter Cartwright of Calpine, a maker of gas-fired power plants, for example. In 2005, Forbes reported that Calpine's average annual return to shareholders over the past six years had been minus 7 percent. During the same period, Cartwright pocketed an average annual $13 million. So much for the wisdom of the "free market."
In fact, the "free market" has nothing to do with it. It's a rigged game---just like the crooked games one encounters at a sleazy carnival midway.
When you go to a carnival midway, it's wise to keep an eye on your wallet. And America's Carnival Freak Show economy is no different these days.
The Military-Industrial Complex: A Profiteering Monster
As an example, take a look at America's military-industrial complex, a major pillar of the modern U.S. economy.
Today's military-industrial complex has turned into the very threat to democracy that Dwight D. Eisenhower warned us about in 1961.
It's a bloated, inefficient, tax dollar-devouring, profiteering monster that is out of control. And for all the trillions of dollars it consumes, it's difficult to really see how the nation benefits from it. After all, for all the ocean of dollars our nation has sunk into the Pentagon, it wasn't able to prevent 19 young men armed with nothing more than box cutters from inflicting on our nation the worst terrorist attack in history.
Curiously, for such a major, and costly, part of our economy, the military-industrial complex gets little scrutiny from our politicians these days. They're happy to continue feeding the monster, with little oversight, as long as the big defense contractors are generous with their campaign contributions.
And although Halliburton has garnered the most headlines as the biggest piglet at the trough, it's hardly the only defense contractor reaping fat, no-bid, "cost-plus" contracts, year after year.
In fact, the Center for Public Integrity revealed in 2005 that some $900 billion in defense contracts since 1998 had been awarded without competitive bidding or effective oversight. It's crony "capitalism" at its finest. And the suckers on the carnival midway are We The People: the taxpayers who fund the whole racket.
Wall Street: Crony Capitalism
Continuing our tour of America's Freak Show economy, lets take a look at a second major pillar of the modern U.S. economy: Wall Street.
While never universally loved, Wall Street has captured the American imagination over the decades as a symbol of U.S. economic might. But these days, most Americans fear and detest Wall Street---and for good reason.
Wall Street once played an indispensable role in the U.S. economy. But it's increasingly difficult to determine what, exactly, Wall Street does that is useful these days. Wall Street's idea of "innovation" these days is to create ever-increasingly complex financial instruments that no one can figure out. It's all a scam that is becoming unglued as investors become increasingly wary of what they're putting their money into.
And like the military-industrial complex, it seems Wall Street can only function these days with a hefty dose of billions of U.S. taxpayer dollars. (Take, for example, the Fed's recent bailout of investment bank, Bear Stearns). Although U.S. Treasury Secretary, Henry Paulson defended the bailout as necessary, ordinary American saw it as yet another example of rigged crony, "capitalism."
The Great American Prison Industry
Continuing our tour of America's Carnival Freak Show Economy, let's not leave out what has emerged in recent decades as the fastest-growing sector of our economy: the Great American Prison Industry.
America, the "land of the free," now has the world's biggest prison population, with a staggering 2.3 million people behind bars. Not surprisingly, the prison industry has become one of America's leading employers. And towns with bleak economic prospects now court new prisons the way they once courted new factories. Increasingly, Americans are either in prison, or working for a prison (a strange trend for a nation likes to think of itself as a beacon of freedom).
In past decades, Americans used industry and manufacturing to build our nation into the greatest superpower the world had ever seen. Today, we've "outsourced" our manufacturing and made shopping (with borrowed dollars) the main pillar of our nation's Carnival Freak Show economy.
Of course, it's all a big Ponzi scheme that is unsustainable. The nations that hold our increasingly worthless currency are likely to eventually get spooked and start off-loading their dollars. When that day comes, Americans will finally realize that whatever "prosperity" our economy has seen over the past three decades has been nothing more than a credit-fueled mirage.
When that day comes, we Americans will finally realize that we've been swindled like suckers at a sleazy carnival midway. P.T. Barnum would be proud.
Whatever happened to the once-mighty American economy?
The United States once had the mightiest economic juggernaut of any nation in history. Our "Arsenal of Democracy" played a big role in winning World War II. During that conflict, we overwhelmed our enemies with a tidal wave of efficient industrial production of everything from bombers to jeeps to battleships.
During the 1950s, America's industrial might was at its peak. We were the richest, most prosperous nation in history. U.S. workers earned the highest wages in the world. We enjoyed the most generous benefits and vacation time of any First World nation. American products, from planes to cars to televisions, were second to none in quality and were in demand worldwide. The Great American Middle Class was a prosperous and growing club that saw its fortunes improve, year after year.
Today, all of this seems like a distant memory. America's economy today is a joke. "Made in the U.S.A." is no longer a symbol of quality. In fact, our nation doesn't make much of anything these days. Our trade deficits are at nightmarish levels. And in three short decades, we've gone from being the world's biggest creditor nation to its biggest debtor nation.
Since we don't manufacture anything these days, all we Americans do these days is buy stuff made in other nations. And we really don't even have the money to do that, so we borrow trillions of dollars from prosperous nations in East Asia.
In fact, the U.S. economy today resembles a sleazy carnival midway. Rather than producing useful goods and services, our Carnival Freak Show Economy these days spends more and more time running scams and swindling people (think Wall Street). We've exported most of the good-paying jobs that sustained our once-mighty middle class. And the gulf between the haves and have-nots has grown to its widest since the infamous Gilded Age of the late 19th century.
A half-century ago, General Motors was the nation's biggest employer. Today it's Wal-Mart, a company that offers such paltry wages and benefits that many of its workers have to file for public assistance just to make ends meet.
And that's just one of the ways that Wal-Mart, and other Fortune 500 companies, pocket corporate welfare. In fact, corporate welfare plays a big role in today's Carnival Freak Show Economy.
Not only have the good middle-class jobs disappeared from the U.S. economy, but ordinary workers who do still have jobs have seen their wages stagnate for the past 30 years. Meanwhile, the richest 1 percent now garner the largest share of the national income since 1929.
One might ask: if the once-great American economy no longer produces anything useful, what exactly does it do these days?
Good question.
Decades ago, America's great corporations were widely admired. Most Americans back then felt they were a positive force in American society. Back then, corporations created good jobs and produced things of value. They also paid taxes (back in the 1950s, for example, corporations paid half of all taxes---today, it's less than 10 percent).
Contrast that to today. Today's biggest corporations, from ExxonMobil to Wal-Mart, are increasingly feared and hated. Many Americans regard them as greedy money-grubbing entities that can't be trusted.
The same could be said of today's CEOs in general. As recently as 1982, the average CEO made around 42 times what the average worker earned. By 2005, CEOs made around 431 times what the average worker earned.
And what, exactly, have CEOs done to earn this phenomenal increase in pay? It's hard to say. In fact, in recent years, there has been an increasingly disconnect between soaring CEO pay and the performance of U.S. corporations.
Take Peter Cartwright of Calpine, a maker of gas-fired power plants, for example. In 2005, Forbes reported that Calpine's average annual return to shareholders over the past six years had been minus 7 percent. During the same period, Cartwright pocketed an average annual $13 million. So much for the wisdom of the "free market."
In fact, the "free market" has nothing to do with it. It's a rigged game---just like the crooked games one encounters at a sleazy carnival midway.
When you go to a carnival midway, it's wise to keep an eye on your wallet. And America's Carnival Freak Show economy is no different these days.
The Military-Industrial Complex: A Profiteering Monster
As an example, take a look at America's military-industrial complex, a major pillar of the modern U.S. economy.
Today's military-industrial complex has turned into the very threat to democracy that Dwight D. Eisenhower warned us about in 1961.
It's a bloated, inefficient, tax dollar-devouring, profiteering monster that is out of control. And for all the trillions of dollars it consumes, it's difficult to really see how the nation benefits from it. After all, for all the ocean of dollars our nation has sunk into the Pentagon, it wasn't able to prevent 19 young men armed with nothing more than box cutters from inflicting on our nation the worst terrorist attack in history.
Curiously, for such a major, and costly, part of our economy, the military-industrial complex gets little scrutiny from our politicians these days. They're happy to continue feeding the monster, with little oversight, as long as the big defense contractors are generous with their campaign contributions.
And although Halliburton has garnered the most headlines as the biggest piglet at the trough, it's hardly the only defense contractor reaping fat, no-bid, "cost-plus" contracts, year after year.
In fact, the Center for Public Integrity revealed in 2005 that some $900 billion in defense contracts since 1998 had been awarded without competitive bidding or effective oversight. It's crony "capitalism" at its finest. And the suckers on the carnival midway are We The People: the taxpayers who fund the whole racket.
Wall Street: Crony Capitalism
Continuing our tour of America's Freak Show economy, lets take a look at a second major pillar of the modern U.S. economy: Wall Street.
While never universally loved, Wall Street has captured the American imagination over the decades as a symbol of U.S. economic might. But these days, most Americans fear and detest Wall Street---and for good reason.
Wall Street once played an indispensable role in the U.S. economy. But it's increasingly difficult to determine what, exactly, Wall Street does that is useful these days. Wall Street's idea of "innovation" these days is to create ever-increasingly complex financial instruments that no one can figure out. It's all a scam that is becoming unglued as investors become increasingly wary of what they're putting their money into.
And like the military-industrial complex, it seems Wall Street can only function these days with a hefty dose of billions of U.S. taxpayer dollars. (Take, for example, the Fed's recent bailout of investment bank, Bear Stearns). Although U.S. Treasury Secretary, Henry Paulson defended the bailout as necessary, ordinary American saw it as yet another example of rigged crony, "capitalism."
The Great American Prison Industry
Continuing our tour of America's Carnival Freak Show Economy, let's not leave out what has emerged in recent decades as the fastest-growing sector of our economy: the Great American Prison Industry.
America, the "land of the free," now has the world's biggest prison population, with a staggering 2.3 million people behind bars. Not surprisingly, the prison industry has become one of America's leading employers. And towns with bleak economic prospects now court new prisons the way they once courted new factories. Increasingly, Americans are either in prison, or working for a prison (a strange trend for a nation likes to think of itself as a beacon of freedom).
In past decades, Americans used industry and manufacturing to build our nation into the greatest superpower the world had ever seen. Today, we've "outsourced" our manufacturing and made shopping (with borrowed dollars) the main pillar of our nation's Carnival Freak Show economy.
Of course, it's all a big Ponzi scheme that is unsustainable. The nations that hold our increasingly worthless currency are likely to eventually get spooked and start off-loading their dollars. When that day comes, Americans will finally realize that whatever "prosperity" our economy has seen over the past three decades has been nothing more than a credit-fueled mirage.
When that day comes, we Americans will finally realize that we've been swindled like suckers at a sleazy carnival midway. P.T. Barnum would be proud.
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