One Million Strong - GOP

Pay the Bill and Keep the CHANGE

wizinit — Sat, 31 Jan 2009 16:13:41 GMT

Let’s be honest. We didn’t really expect Congress to come up with a "bold" stimulus plan, did we? But do we agree that NO action will only aggravate our current crisis?

The GOP surprised us when it failed to respond more constructively to the bipartisan overture from Barack Obama. I personally witnessed the precedent-setting bipartisan dinner for his defeated opponent (my photo of the President-elect at the dinner honoring McCain, January 19) and noted the subsequent meetings with Congressional Republicans. And what did we get in the way of proposals from the loyal opposition? More of the dogma-driven, supply-side ideology that contributed to our current mess: tax cuts!

On the other hand, GOP critics have a point: the bill that passed the House and was embraced by Obama essentially is an accumulation of favorite Democratic spending proposals.

What is missing is CHANGE. The CHANGE Obama advocated in his campaign for the Presidency. The CHANGE that won him a resounding mandate to govern for four years. The CHANGE from policies that have worked to benefit few and imperil many. Where are the first steps toward affordable health care, a sustainable green economy and alternative energy? And why are we not moving boldly to address the systemic failures that underlie the current crisis in credit markets?

Obama asked for ideas. And Paul Krugman and Robert Reich, among others, obliged. But what these brilliant men offer is predictable: rationales for orthodox Keynesian solutions and concern about labor market distortions, respectively. More is needed, not just in additional spending, but in fresh ideas that advance the President's policy agenda. So, if suggestions are still welcomed, here is my two-cents worth. And please do keep the CHANGE.

Health Care

Obama has promised the nation affordable health care similar to his own Federal Employees Health Benefits Program (FEHBP), to be available to all by the end of his first term. There is no need to back off this goal. Health care is one of the largest drags on our economy and the stimulus bill provides a real opportunity to begin managing its cost. In addition to the bill’s provisions to help state governments fund Medicare and work projects, I suggest that the federal government reimburse all state and local governments for their employer's share of health care for the rest of this year. In exchange, recipients may not fire government workers and must commit to integrating their health care plans with the existing FEHBP starting in 2010. That provides additional and immediate financial assistance to state and local governments, while paving the way for the establishment of a Public Employees Health Benefits Program. By January 2010, the federal government’s negotiated health care program would expand its base and economies of scale. The next step will be to apply the system to businesses, and subsequently to capture the un- and under-insured.

Energy Independence

Most honest leaders recognize that in due course government will have to produce the substantial additional revenue to pay for the stimulus. But good luck finding a politician willing to propose increasing taxes of any kind. So let me suggest instead a hefty tariff on imported oil to fund the “green economy.” A tariff of 50 percent or more on the landed cost of all imported energy (probably with some form of accommodation for our NAFTA partners) can be justified because of national security as well as the external costs to our environment inherent in the use of fossil fuels. And such a levy would promote conservation, subsidize domestic production, and help to fund and protect our investments in alternative energy. This is a measure that should be welcomed by Republicans who advocate "drill, baby, drill” as well as environmentalists interested in promoting clean energy. The windfall earned by American producers could be invested domestically or taxed as profits. And while there may be a marginal increase of fuel cost at the pump, it will pale in comparison with the amounts we forked over to foreign potentates rather than our own Treasury these past few years, when oil was effectively 200% greater than its current price.

Reestablish a ‘Risk-Free’ Investment Benchmark

Explanations for our current credit crisis and financial market meltdown abound, including the Washington Post's excellent series. But absent from all the expert analyses is any mention of the Treasury Department's October 2001 decision to discontinue issuing 30-year Bonds. That decision, on the heels of 9/11 and the cusp of Bush's costly war on terror, both lowered mortgage yields and prompted increased sales of bundled mortgages marketed as alternative 'risk-free' instruments, which in turn fueled the housing bubble and distorted both government and corporate credit point spreads. Treasury Bond auctions have resumed, but a clear provision to finance America’s recovery through borrowing would repair yield spreads – both between short and long term sovereign debt and in relation to all other debt instruments. Transparent budget financing will help re-establish more realistic risk pricing and global confidence in the US economy. But the 30-year Bond will not regain its position as a benchmark for 'risk-free' long-term investment if Fed meddling in the market, as it proposes to do with its planned purchase of Treasuries from troubled banks. In fact, this central-bankers-gone-wild approach will only create a greater Treasury bubble that will seriously aggravate our problems. Once markets are allowed to properly price the cost and risk of our recovery without Fed manipulation, global confidence in the US economy has a chance to be recover.

So Pay the Bill, and Keep the CHANGE

Barack Obama attended his last inaugural event, the Staff Ball, at the DC Armory on January 21. But he arrived after a performance by the opening act, Arcade Fire. So here are some insightful lysircs from their “Intervention”:

You say it's money that we need
As if we're only mouths to feed
I know no matter what you say
There are some debts you'll never pay

The message is relevant to the stimulus bill now before Congress. We can act responsibly and cautiously if we:

Pay the Bill and Keep the CHANGE.

McCain Co-Sponsors Down Syndrome Senate Bill GOP Killed in July

wizinit — Wed, 10 Sep 2008 15:03:16 GMT

So far unnoticed by the mainstream media obsessed with lipstick on pigs and pit bulls is the latest bit of John McCain hypocrisy.

McCain and Senator Ted Stevens (R-AK) decided on September 9 to co-sponsor Senate Bill 1810: "A bill to amend the Public Health Service Act to increase the provision of scientifically sound information and support services to patients receiving a positive test diagnosis for Down syndrome or other prenatally and postnatally diagnosed conditions."

That is the same bill that Republicans blocked in a procedural vote on July 28, of this year. The bill, originally co-sponsored by Senators Sam Brownback (R-KS) and Edward Kennedy (D-MA), was part of a package of health care legislation that Republicans voting along strict party lines blocked from floor action. Despite the 52-40 vote for consideration, supporters fell short of the required 60 vote majority to move the package forward.

Photo: McCain's Vice Presidential running mate Sarah Palin gave birth to Trig Paxson Van Palin, a Down Syndrome baby, on April 18.

GOP Hopes Beijing Olympics Tactics Will Do the Trick for McCain's Election Challenges

wizinit — Thu, 14 Aug 2008 18:28:37 GMT

Inspired by his observation of the Chinese Government’s efficient management of the Olympics, George Bush has evidently returned to Washington full of exciting ideas he hopes will ensure John McCain’s victory in November. And there is some evidence suggesting that some of the Chinese tactics have already found their way into John McCain’s 2008 Presidential election campaign.

Last June, the St. Paul Police Department arrested a 50-year-old man peacefully handing out leaflets promoting a Sept. 1 march on the Republican National Convention. It is not clear if US law enforcement will be as clever as Chinese authorities, who prevented large-scale protests by arresting those who are naive enough to apply for a permit to demonstrate legally. But authorities expect to arrest up 800 demonstrators in Minneapolis, so even the most docile protester attempting to approach the Excel Center may be fair game for a round-up.

Like those intimidating Chinese drummers in the opening ceremonies who were instructed to smile, John McCain has been smiling a lot in his own public performances. But his handlers, worried about invidious comparison with Barack Obama, are not taking chances. Like the sweet little girl who was also in the opening ceremony, they will train McCain to lip-sync his acceptance speech while the words are spoken by one of his movie star supporters. But it is not yet clear however which of McCain’s prominent thespian endorsers' characters will provide the voice. So far, the three nominees in the category of Nominating Acceptance Speech are: Clint "Dirty Harry" Eastwood, Sylvester "Rocky" Stallone and Arnold "Terminator" Schwarzenegger.

But none of the Chinese measures has excited Republicans as much as the “passport solution”. The GOP is taking its cue from China’s women’s gymnastics team, which was able to demonstrate that its athletes met the International Olympic Committee’s 16-year old age requirement by presenting Chinese passports. So they are applying for a new passport that McCain can present as his government issued photo ID. It will address concerns of some voters who believe McCain is too old by showing that he is only 35. That will both meet the Constitution’s minimum age requirement and should reassure voters that he could easily serve two full terms as President. As an added bonus for those constitutional scholars who question if McCain meets the Consitution’s “natural-born” requirement because of his birth in Panama, the passport will list his place of birth (POB) as Panama City, Florida. Problem solved.

wizinit is the nom de guerre of a veteran diplomat and fan of the late columnist Art Buchwald who writes serious analysis and political satire. If you would like to be notified whenever wizinit posts a new article click on the logo to join Food Tasters For Obama.