Tag Archives: unemployment

Political Rants

Year 10.

Wtf, what a year, eh? At least those of us who made it through… made it through. Just a few closing thoughts before that ludicrously pointless ball of Christmas tree lights falls, signaling the arbitrary beginning to another great year.

Economy. At the end of a tumultuous year, we are still at nearly 10% unemployment as it is currently calculated, meaning that it’s probably closer to 16% in real terms, maybe higher. I can tell you that, of the family members and close friends who have lost a job in the past year to 18 months, 2 out of 3 are still looking for work. This is probably a familiar story across the country. And yet, some seem to be doing quite well. American businesses – and I mean BIG businesses – have amassed huge piles of cash over the past year. The stock market – and therefore, investors – are doing better. And on Wall Street, the bonuses were fatter than a Christmas goose once again. (They’ve got a tax cut on the way, too.) Even with all that, they managed to take a swipe at Obama, who has done little more than wag a finger at them. There’s gratitude for you.  

War. Our glorious victory in Afghanistan was about nine years ago, one of the darkest winters I can recall, and the start of a long, bloody chapter in the history of American empire. Anything like the bloodiest ever? Likely not. It is just as well that we remember how many lives were lost in Korea in the early 1950s, in Vietnam in the 1960s and ’70s, in Central America and southern Africa in the 1980s, and elsewhere. Even individually, they make Iraq and Afghanistan seem like relatively minor catastrophes, though either of our most recent wars would put  us into Milosevic territory (and probably beyond). Still, Afghanistan has the distinction of being our longest war, as well as one we should have known better than to ignite (happy as we were to help strand the Soviets there during the 1980s).

Social Programs. Despite (and partially because of) the new health insurance reform bill, this has not been a good year for the social safety net. Political players are positioning themselves to implement massive cuts in Social Security and Medicare/Medicaid over the coming two years. They’ve ginned up fear of the deficit, sapped the federal budget with Obama’s tax compromise, and set up the hurdles in advance, the first being the continuing budget resolution that will run out in March. Watch – that’s when they will bring out the long knives. We’d best be ready for them.  Read Dean Baker’s excellent blog as well as Ezra Klein’s interview with James Galbraith, and start talking to your friends about this … yesterday.

Here’s to a better year next time around.

luv u,

jp

Political Rants

On capitulation.

Okay, so the president has a bit to apologize for. He’s not alone in that respect – plenty of blame to go around here. Fact is, the administration is certainly wrong to criticize the liberal-left for denouncing the deal he cut with Republicans this week. If the president was painted into a corner, it was not by the left. The Congress members who were dead set against raising the tax issue before this past election were “Blue Dog” conservatives, worried about offending their constituencies – the same voters that would soon send more than half of them packing.

It is now these conservative Democrats that Obama is relying upon during the lame duck session to shepherd this deal through the House. It seems likely that most Republicans will support it, so he hardly needs the entire Democratic caucus. In any case, the capitulation happened a long time ago. At this point, the main thing is making certain that unemployed workers get the help they need. I don’t care how we get there, particularly, so long as they don’t give away the store… and reserve the right to start fighting again fresh on January 1.

There will be a lot to fight about, particularly when you consider how the Republicans have been behaving in the wake of their electoral victory. To wit,

  • Jim DeMint has talked about the possibility of making unemployment insurance more like “a loan” to give unemployed people incentive to go to work. No, really… he’s serious.
  • The main talking point on these upper income marginal tax cuts is that they are “NOT tax cuts”, that to not implement them is, in fact, a tax increase.  I heard Jon Kyl plying this one yesterday. A little wordplay here – perhaps they don’t remember that when they invented these tax cuts nine years ago, they put an end point on them. The tax cut has a time limit; when that passes, it’s over. Extend it, that’s a new cut because it involves additional billions. Got that, Jon? 
  • Tax cuts for the rich don’t add to the deficit. Unemployment benefits do.

You get the picture. One last point… it was mentioned in passing on NPR business news today that American corporations are sitting on $2 trillion in cash. Sitting on it.

Again… do these people really need a tax cut?

luv u,

jp

Political Rants

Win for losing.

Just a few short shots today. Hopefully one of them will approach some acceptable level of accuracy.

Out of work / luck. The House failed to reach the 2/3 majority it needed this week to approve extending unemployment benefits to the millions out of work for an exceedingly long period of time – about 9.6 percent of us, if you count every part-time burger flipper as “employed” (and don’t even count those unemployed but no longer looking for work). Once again, our great lawmakers are playing ducks and drakes with people’s lives, blaming the victim, punishing those who have paid for their bad decisions. Got the number of your congressman/woman? Get on the phone to them and tell them to vote for this sucker, even if it adds to the freaking deficit. This is a question of survival for millions of American families – what’s more important than that?

Gitmo conviction. Justice Department prosecutors have won the case against a Gitmo detainee Ahmed Ghailani, but are losing the propaganda war with respect to civilian trials for terror defendants. I heard ex-governor Pataki on television this week joining the chorus of ersatz conservatives who think evidence obtained under torture is somehow legitimate. Oh, how they value our traditions!

Non-starter. John McCain’s Arizona colleague appears intent on blocking an arms control treaty that any Republican would have been proud of two decades ago. So our agreement with the Russians is dangling by a thread. What sense does this make? Don’t know. What sense does it make to have NATO members sign on enthusiastically to a new “missile defense” regime – i.e., one that the Russians are not intimidated by? I suppose we should follow the money. Missile defense is as close as this or any administration will come to an industrial policy. Military Keynesianism still rocks down in D.C.

That’s all I’ve got, folks.

luv u,

jp