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April 21, 2014

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Letter to the editor:

National deficit takes time to solve

A recent letter to the editor, “Blame Obama for slow recovery,” needs a close look at the facts.

Near the end of 2008, the administration that had been in power for eight years was ending with a $10 trillion deficit. When it took over, it had been handed a surplus. For the $10 trillion we got two wars, an unfunded senior prescription drug program and were losing about 700,000 jobs a month. I can remember being at the bank along with several other people asking if the savings we had were safe or whether we should take them out. They would only say, “Call the federal government and ask them!”

For the $5 trillion to $6 trillion added to the deficit since then, we have overcome the horrendous downward spiral of job loss and have had 27 months of positive job growth. And, nationally, more than 90 percent of the people who want jobs are working. Not enough, but positive.

The letter writer notes the loss of home values, but that is more connected to greedy mortgage companies, banks and financial firms who broke the housing market than to the deficit. Not one of those responsible has been charged.

When spending is cut, people are laid off, and that means less tax revenue and more government outlays for unemployment insurance and other assistance.

People need to get behind and help President Barack Obama and our country instead of complaining that he is not solving all their problems fast enough.

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  1. Well written and good points.

    There are things that each President can be criticized for, but the state of the economy and efforts to salvage a loosing situation are not one in this instance.

    It is more difficult to solve when you don't have support for your proposals because of partisan dysfunction.

    GW Bush may have led us further in to deep debt after have inherited a surplus from Clinton. However, Clinton set the wheels in motion for what eventually led to the global economic crisis.

    Our banking and financial sectors also created a global economy crisis that came back to effect us even more. In just these last 3 Presidents, all have utilized the very people in their Administrations who were part of the institutions that caused the problem.

    Solutions are not the property of one political party or President. It takes much more.

    We need to come together and think not only of the financial markets, but of the people of our country, who are consumers if they have the money to spend.

    We cannot sacrifice people for a speedy recovery of the markets, and to pay down the debt of paper. There are no easy and fast solutions that won't end up through people on the bonfires.

    All the politicians should find ways to work out a process of recovery over an extended period, and do so without game playing or seeking personal political gain. It is in the interest of all the People of this nation, and that is the most important thing...all the People!

    If Romney is elected, what part will he play in continuing the the misery for so many people? Will he simply 'slash and burn', forming bigger bonfires on which to lay the bodies?

    If that happens, he will add his name as the 4th President to continue the crisis in some form. Two from each party.

    Will he be free of criticism? Of course not. That is just how our broken system is, and the powerless who follow the leaders.

  2. Well done Charles. It's refreshing to see historical events depicted accurately for a change.

  3. Nothing will be solved as long as the 2-party system continues its useless, wasteful bickering, and political gridlock. Our borders and illegal immigration needs strong enforcement, and American companies operating and producing in the USA should be given preferential treatment in taxation and permitting.

    It does take time to build trust and credibility, all of which the USA government has seen a decline in ALL of its ratings. So yes, it will "take time to solve" the many and now massive problems our country now has!

    Blessings and Peace,
    Star

  4. Letter writer's economics is wrong as are the President's and his economic team. They follow the dinosaur thinking and theories of John Maynard Keynes. They have been proved wrong time and time again. Most recently with the failings of Obama and the USA and the European governments. Governments can't spend their way out of recessions by running up huge deficits and debts that will take generations of their children and grand children to pay off. It's feel good economics that only prolongs the economic agony and does not solve it.

    CarmineD

  5. Long live Keynes- the Reactionary trickle downers are the reason we're in this depression. Reagan and Hoover are the dinosaurs.

  6. Like the the republicans have a history of cutting deficits.................Conservatives have problems with the truth ,just offer propaganda, and need to lose big time in Nopvember !!!!!

  7. Enjoyed the letter, Mr. Parrish. It's the truth. Which is something that Tea/Republicans don't want you to know.

    I read a blog by someone who reduced this down to simple terms so everyone can understand.

    Say for example you give someone a sledgehammer, tell him to go into that house and destroy as much as you can. He is told to have at it, but is only given eight minutes to do as much damage as he can.

    After the devastation, you get someone else, don't give him any cleaning nor construction materials, tell him you have three and a half minutes to fix what the last guy did that trashed the house.

    You simply can't do it. Especially when you have no help. And the devastation is so extensive. It takes time.

    This is what President Obama and his administration are facing right now. And getting absolutely no help at all from the other side of the aisle to rectify ANY damn thing. All forward progress is due to President Obama; not the Tea/Republicans. Because they are praying and hoping for utter failure.

    So, people can say, oh, it's both sides this, it's both sides can't sit down at a table and decide anything, oh, it's you, not me, blah blah blah.

    Every indication DEFINITIVELY shows the Tea/Republican Party is obstructing everything. Their sole goal is to get into power.

    Don't let them snow you. They, and they alone, are the reason for this current debacle the entire nation is in. All because they are acting like spoilt children who want to be in power, but do nothing to show they can act responsible and resolve anything.

    Again, like I've said before, my vote is going to get ugly and angry. I'm voting straight Democratic Party on November 6, 2012. To vote any other way is completely and utterly stupid. Because Tea/Republicans have no clue what to do to run this country before, now nor even in the near future. To hand over the reigns of power to them is pretty much like asking Jerry Sandusky to work night shift in a halfway house for wayward boys.

  8. Colin From Las Vegas,
    "Enjoyed the letter,Mr.Parrish.It's the truth.Which is something Tea/Republicans don't want you to know." Every one knows especially the Tea/Republicans. They just don't want to address it.

  9. ...the letter writer and the subsequent comments are more proof that we have no way out of this...

  10. Republicans ought to change their name to the deficitic party ; They're all about keeping them going even in good times.

  11. Great letter Mr. Parrish. You must forgive or ignore the radicals who don't understand just how bad this deep recession was, a step away from another Great Depression. Fox News has their heads spinning so many of them are dealing with a surreal world and out of touch with reality. Right wing policies will bite them in the arse and they will blame the Dems. Ignorance must be blissful after all.

  12. It is very dissappointing to read most of the comments here.

    One side tells us that a 16 trillion dollar debt and deficit spending of over 1 trillion dollars a year can be resolved by taxing the rich and business more, leaving SS and Medicare as they are, continuing to spend much more than tax revenue brings in and borrowing more than 1 trillion dollars more for a 2nd stimulus.

    How can any of you believe such a plan is even reasonable, much less has any chance to be successful?

    The other side calls for a re-written income tax code, no increase in taxes but instead tax decreases across the board, says we need to cut spending but doesn't say how except to target SS and Medicare, and wants to increase military and foreign aide spending.

    How can any of you believe such a plan is even reasonable, much less has any chance to be successful?

    This is like a baseball game where both teams are playing horrible. You would expect loyal fans of each team to continue supporting the team of their choice, but you'd also expect the fans of each team to boo their teams performance and demand better.

    Where is the booing from the D and R supporters that write letters?

    I challenge each of you, not to change the party you support, but to acknowledge that what your side has proposed amounts to 85 % unrealistic pandering and 15 % actual positive steps.

    Can any one of you find it within yourselves to honestly critique the side you support?

    If more of us don't start doing this soon, we are all going to be very sorry, no matter who wins the next election. Pandering for votes while not proposing the tough and painful actions required is not going to get the job done.

    Michael

  13. I've got no problem critiquing both sides. Changing the tax code, taxing the rich, as well as other idiotic ideas won't even come close to closing the gap.

    Dramatically reducing healthcare expenditures is the only way to get fiscal sanity. $250 billion a month and well over $150 trillion over the next 40 years is going to suck the blood out of the entire economy. Hand a Medicare card everyone. Pay for it with a national sales tax. Dramatically cut the amount of money going to hospitals and drug companies. That would reduce future expenditures by at least $50 trillion and close most of the unfunded liability gap plus dramatically increase disposable income among working people.

  14. http://www.rand.org/pubs/research_briefs...
    The above report reflects how healthcare costs have affected families. It doesn't get into the fiscal situation.

    On the fiscal side Medicaid alone is responsible for the vast majority of the unfunded liabilities going forward.

    The only other way to bring the federal government in balance is through a substantial national sales tax. There will be $700 trillion worth of GDP in the United States in the next 40 years. The majority of it consumption. Taxing that consumption is the only way to close the budget gap.

  15. Mark... The dependent class of voters that you discuss consists of half the nation. It's hard to eliminate a program that studies the sex habits of cockroaches. You're going to try to eliminate programs that provide medical care, housing assistance and supplemental income for half the country?? Good luck!

  16. currently 95% of financial assets stocks bonds CDs money markets are in the hands of 5% of the population. Translated that means 95% of the people in this country have almost no money. The demand for entitlements is going to continue to explode. Record numbers of our military personnel are applying for disability benefits. It's altogether likely that 60 to 70% of the people in this country are going to be getting some type of assistance in the next few years. Nothing you can do about it other than trying to get costs under control.

  17. WRT Herbert Hoover's Depression and Franklin Delano Roosevelt's recovery here's an excerpt that can be found in any school book and history account of the times. It should give pause to ponder. FDR succeeded Hoover in '33.

    "When the Wall Street Crash of 1929 struck less than eight months after he took office, Hoover tried to combat the ensuing Great Depression with volunteer efforts, public works projects such as the Hoover Dam, tariffs such as the Smoot-Hawley Tariff, an increase in the top tax bracket from 25% to 63%, and increases in corporate taxes. These initiatives did not produce economic recovery during his term, but served as the groundwork for various policies laid out in Franklin D. Roosevelt's New Deal."

    CarmineD

  18. Carmine... World War II brought unemployment levels down to record lows all over the world. World War II was the biggest government spending program in history.I believe the all time record low for US unemployment was in 1944. I think it dipped below 2%.

    The Great Depression began in 1929 and a full recovery was achieved in 1954. A substantial part of that recovery occured during the war years.

    Americans have lost 20 years worth of wealth accumulation. It will take many years to get that back. In addition the Philly Fed recently put out a report that reflected if we could get back to normal rates of growth it would take 11 1/2 years to get unemployment back down the 5%. Much longer at current growth rates. Economic crisis that is brought about by some type of financial calamity like the one were going through now is the most difficult to correct, and takes the longest.

  19. Mark,

    I understand your frustrations but here is what I don't understand. Like it or not, the D's have approximately 1/2 of the country siding with them. Same for the R's. That is not going to radically change one way of the other in the future.... as far as I can see.

    You say it is a war and it is but it's war where both sides have about the same number of troops and are equally armed. Those kind of wars last for a looooong time.

    I also understand that conservatives have accepted promises by progressives in exchange for doing what progressives want, only to see the promises not kept.

    All that said, the solution is not to refuse to compromise and take a my way or the highway approach. It is instead to learn to drive a harder bargain. Insist that whatever is bargained happens at the same time, not one before the other. R's have been lousy at that and D's have eaten their lunch.

    If R's just dig a foxhole and throw grenades from it, D's will do the same, which is what we have today. Our country is dying with this appraoch and it is the wrong approach.

    Michael

  20. Just how many thousands of times do we have to go around this mulberry bush?

    1. We do not have accurate governmental accounting. Many items are entirely off budget. Budgets show "surplus" even when we are adding to debt. Capital items are lumped in with expenses, increasing "deficits" even if we are acquiring useful and valuable capital assets. There is no accurate accounting for Assets. Obligations and commitments tend to be unrecorded. (Unfunded pension liabilities are a prime example of "off-budget unrecorded items.)

    2. We need to decide what is most important to spend money on. Unfortunately we have a governmental structure which is subject to corruption because it takes big bucks to get elected -- so many bucks that the only full-time job of an elected official is raising money to get re-elected. Government spending is determined by campaign contributors, and not by the citizens. We need to change the structure of government to restore the practice of representative democracy so that government of the People, by the People, for the People does not perish from this earth.

    But it is now Silly Season, and we must spend our time in partisan wrangling over partial quotes out of context and the important "issue" of who did or did not strap the dog house to the roof of the car on a vacation. Or whether Republicans or Democrats will create "jobs" on "Day 1" by vague "policies" in an environment in which businesses are operating at well below capacity and facing declining demand everywhere except the U.S. (The world's largest market -- Europe -=- is in recession, which has caused the world's 3rd largest market -- China -- to slow [and perhaps get close to recession]. That leaves the world's 2nd largest economy growing very slowly, and slowing because our exports and our governmental expenditures are under pressure. Neither candidate has unveiled a reality-based business plan for how he will make things better. And we go round and round the partisan mulberry bush......

  21. By bite,Your post sounds like you are leaning towards a prejudice view.

  22. Here, Here, Leric!!! May commonsense and cooler heads prevail! Especially enjoyed #2-"2. We need to decide what is most important to spend money on. Unfortunately we have a governmental structure which is subject to corruption because it takes big bucks to get elected -- so many bucks that the only full-time job of an elected official is raising money to get re-elected.

    Government spending is determined by campaign contributors, and not by the citizens. We need to change the structure of government to restore the practice of representative democracy so that government of the People, by the People, for the People does not perish from this earth."

    Thanks for that shot in the arm logic!

    Blessings and Peace,
    Star

  23. LastThrows,

    The article you reference pins the reason for the fall in oil prices on the US financial position, the financial problems in Europe and the EU and the unrest in Syria and the larger Middle East... and you want to give credit to President Obama for all that?

    What?

    I thought you liked and supported President Obama.

    Michael

  24. "Carmine... World War II brought unemployment levels down to record lows all over the world. World War II was the biggest government spending program in history.I believe the all time record low for US unemployment was in 1944. I think it dipped below 2%."

    Mr. Hageman:

    Exactly. Why? On December 6, 1941, with a peace time military of less than half million men, there were 10 Million Americans out of work. On December 8, 1941, the day after the day that went down in infamy, December 7, all the unemployed men joined the military services to serve/fight in WW2.

    CarmineD

  25. A PS to my post: Many served in civilian capacities for the war effort. You know that there was rationing of rubber and metal so the materials could be used exclusively in the war effort. New cars and appliances were not made and sold to save the metal for the war effort. Even new American made vacuums ceased during the war effort and/or were constructed with non-metal materials and/or manufacturers like Hoover and Electrolux rebuilt their pre-war models and sold as refurbished with new warranties. In '45, after the war ended, many of these wartime civilians serving exclusively for the war effort were out of work and lost their gov't jobs. In fact during the early 50's, Dwight Eisenhower years, despite the Korean Conflict, now a war, there was a mild recession in the USA.

    CarmineD

  26. Spinning on the dime is not desired. Start stepping in the right direction, taking baby steps if need be. As we start to free up the markets and allow a "free" economy to function, things will start to happen. And changes will be definite but gradual so people can change careers and adjust their life styles--just as government must. As we start bringing hundreds of thousands of our troops home from Europe, get them a gig on our southern border--say up to 3 years per soldier at minimal pay--and the soldier can quit at any time s/he finds other work or wants to move on. The money we don't spend defending Europe can be half used for the border costs and half not spent. We can eliminate Medicaid since no one is entitled to a hand out--leave it there for a while for the non-able bodied, aged, infirm, handicapped but mothers with kids are on their own. Maybe allow some preventive care for a couple of years, but any and all elective treatment and recurring treatments must be copaid by the recipients--and those copays get higher each year--as we reform health care, NOT by paying more insurance premiums but by consumer-driven cost-effective decisions about what each consumer can afford. RAISE INTEREST RATES so an economy can function. Zero interest means zero activity. Let's start with 1%, then in a year of so 2%... Bernanke studied the Depression and how we failed to take dramatic enough action for long enough--so he has over done it without due consideration of the unintended consequences. Move fed policy on back to allow an economy to function. Did you see the news that home mortgage rates have hit a new low? But you can't get those rates 'cause no one will lend you a dime. So how does 0 federal reserve rates work? They don't. Raise interest rates gradually. No sudden moves, but let's START MOVING.

  27. @lericgoodman - Thank you so much for the excellent comment. Your words exemplify a true American spirit.
    ~~~~~~~~~~~~

    I have so many thoughts on how things could change, but this is not the place to express those ideas. They are serious, and not for divisive armchair partisan politics.

    Our current system is seriously broken and changes are better made outside of two-party politics.

    It will happen one day, the birth of something new. A growing number of people who seek serious change will discover they can create the change together, and purge all that is not serving the common good any longer.

    I would like to say something about "dependencies". They are not limited to social dependencies. Our system has created others, like what Eisenhower called the military-industrial complex. There are economic dependencies in the global markets. Don't forget the dependency of business on consumers and stakeholders. There are all kinds of dependencies beyond social dependencies, which are often caused by the non-social dependencies.

    Almost everything is out of balance and counterproductive for the people. I see no way out as long as our current system continues to be dysfunctional.

    The people need to reclaim their government, and purge it of all that is currently moving us rapidly toward destruction or indentured servitude to the current real owners of our government, those our politicians owe their power to.

    Don't think I am calling for some extremist control, I am not. That is part of the problem.

    Balance, good functioning order, with the priority being for the common good of all areas of society, working together like a properly functioning engine. Balance!

    Another way of seeing the importance of this is to look at the human body. It has many parts, but they are interdependent in keeping others functioning well. Disease causes malfunction.

    Today, our politics is suffering from disease, a malignancy. It may need excision of malignant cells followed by chemotherapy to destroy any remaining diseased cells; it may need a transplant. We have to get rid of the cancer or decline and perish.

    We need to begin thinking outside the 2 party box. We can do it! We must!

  28. "carmen; FDR was a great president and hoover is at the bottom with bush. live with it." Dip

    I have yet to see/read a presidential rating system that is worth having and living with. None places the truly greats with the truly worse in a fair ranking system. If you use "terms" as the basis, then the 4 terms that FDR had and the one Truman had, his VP, for a total of 5 terms places FDR at the all time top. Is that worth living with? FDR got 4 terms only because the two term limit was not yet law, but became so after his death. Congress saw to that. Truman was good on foreign issues, BUT terrible in domestic affairs. Truman left office with a 20 percent approval rate, one of the worse in history for presidents. So don't tell me live with it. You live it. I can't and won't.

    CarmineD

  29. "The Great Depression began in 1929 and a full recovery was achieved in 1954. A substantial part of that recovery occured during the war years."

    Mr. Hageman:

    True for the stock market recovery. But most Americans didn't play in the stock market during these decades even gamblers. Not like they did and still do during the 70's and after.

    CarmineD

  30. bite - "He was the first African to be President and he will be the last African to get elected."

    Obama delusion syndrome, birther, or both?

  31. El Lobo:

    My excerpt about the Hoover Depression and FDR recovery is straight from conventional American history and text. It is not my opinion. It is historical fact.

    CarmineD

  32. "Yep, the 100 degree heat & the wild fires in the west are taking their toll on Carmine.."

    El Lobo:

    Sun finds me, I'm Italian. I love the heat and the hot sun. My ancestors were farmers from Sicily and I spend as much time outdoors as possible and have all my life long.

    CarmineD

  33. BTW, my father was a Civilian Conservation Corp supervisor with the FDR WPA. One of his jobs was putting out forest fires. It's in my genes.

    CarmineD

  34. So Carmine, can we get the CCC going for fit Veterans? Maybe other folks? No hand outs if you can work for it--we'll provide room, board, basic medical care, future references. AND we get some of those public works going--you know, the infrastructure that supports our economies. Maybe build a railroad line from Vegas to Carson City?

  35. Roslenda:

    You're too late. Already happened under the first Clinton Administration. Here's the link:

    http://www.americorps.gov/about/programs...

    The first Director of the NCCC, National Civilian Community Corp, was a former Army General, Don Scott. He is a career civil servant. And a man of honor. He ran the agency like the military. Still in existence BUT since its inception in 1994, there have always been concerns about funding and zeroing out its budegt. The critics see the agency as a taxpayers' funded cash cow to reward the political party in the White House and its supporters and fund raisers.

    CarmineD

  36. "Hey Carmine....

    How about a link to your post concerning Hoover, FDR & the Great Depression?

    Would love to read it & much more...." El Lobo

    Here tis:

    http://en.wikipedia.org/wiki/Herbert_Hoo...

    CarmineD

  37. El Lobo:

    If you can't find the exact excerpt verbatim from wiki as I posted 2X here, let me know. I'll be happy to point you right to it.

    CarmineD

  38. "maybe its senility." Dip

    On your part.

    CarmineD

  39. @ Carmine - "True for the stock market recovery. But most Americans didn't play in the stock market during these decades even gamblers. Not like they did and still do during the 70's and after."

    There is a lesson there, with the addition of a few more facts.

    The reason Americans didn't play in the stock market during those decades was because before the Great Depression it was not uncommon for Americans of all income levels to invest. Result: They lost their shirts! Most were not willing to do that again.

    I guess it took until the 70's, with 401K amendments, to forget history and cycles, if people understood either.

    The 80's might have been a small reminder, but evidently not enough of one.

    We will see what the current recession/depression brings to the future.

  40. A general note about Wiki...

    The information is not always reliable, since it can be edited by almost anyone.

    There are plenty of so called "facts" that are all wrong. It is best to get some substantiation of the information and not rely on Wiki alone.

  41. Excellent point peacelily. Thank you.

    CarmineD

  42. Teamster:

    The city of Stockton California is planning to vote on declaring bankruptcy. Why? 68 percent of its general fund revenue goes to paying slaries and benefits for current and former city employees. 68 percent. It probably will go bankrupt and so will many other cities, counties, and even states. Whose heartless fault is that?

    CarmineD

  43. "Obama is way ahead in the polls, that's why
    Carmine and other republicans don't dare talk
    about Romney." Teamster

    Here's a history lesson for you. Reagan, a virtual political unknown, was tied in the polls with Carter one week before the presidential election. And then they debated. Reagan gained 10 points in the polls after the debates and the rest is history.

    The only poll that counts is the one on Nov 6, 2012.

    CarmineD

  44. Teamster:

    What no democrats are talking about should concern you! The Health Care Law. Not one. You don't here a peep about the President and the dem's signature piece of legislation. Why? The individual mandate will be struck down today by the Supremes.

    Can't wait to hear the spin President Obama puts on the Supreme's ruling.

    CarmineD

  45. Peacelily:

    If you have time and are so inlcined read the wiki text on the Bonus Army march in DC. Note the personalities. Gen MacArthur and Hoover in particular. It is a blemish on US history and the military. Hoover didn't want MacArthur to fire on the veterans, killing and wounding them. Hoover never blamed Mac instead taking the blame himself. Note what FDR said about Hoover. Also note that Truman was a WW1 veteran. An officer in the cavalry. Fast forward to the war of personalities between Truman and Gen Mac. And the friendship between Hoover and Truman during the Truman presidential years and after. Again just reading wiki about Hoover and Truman. Think the Bonus Army had something to do with all of it? Truman's disdain for Mac. And Truman and Hoover's personal and political friendship despite their opposing parties and views?

    Strictly opinion.

    CarmineD

  46. TEA and company, Mr. O may have lost the election by his childish reaction to the Arizona 1070 law. He is required by law, constitution, and reason to UPHOLD the laws, not have temper tantrums when he doesn't get everything his way. 3/4 of Americans want the illegals out of here--some differ on how to get them out of here but clearly we must SECURE the border and enforce that before we are convinced that any form of "reform" would work. We've had immigration reform before and they just keep coming here. That alone is bankrupting the nation and causing massive increases to the national deficit.

  47. El Lobo:

    Reagan was a B film actor and president of the Film Actors' Guild of Hollywood. That's why California elected him as Governor. Carter was the President of the US for 4 years. Reagan beat Carter handily in the 1980 election, thanks in l;arge part to the televised debates. RRR served 2 terms as president and handed the GOP presidential reigns for another term to his VP, Bush1.

    These are the historical facts.

    CarmineD

  48. Just for the record, in case you didn't and don't know, Gov Arnold Schwarzenegger never ran/was elected president of the US. And never debated an incumbent president on TV. He is, was and likely will be for all intents and purposes a virtual politcal unknown.

    CarmineD

  49. In case it still doesn't sink in, Gov Bill Clinton from Arkansas, was a virtual political unknown when he ran against an incumbent president Bush1 in 1993. Clinton won in large part due to a political slogan coined by one of his election team: James Carvill. "It's the economy stupid." Recall this was said in conjunction with Bush1 shopping at a Wal*Mart and asking one of his secret service agents to front him the money for his store purchases. He bought a few necessities and was shocked by the tab and said so. He lost the reelection. The debates were not factor. Clinton won because Bush1 lost the reelection long before the voting started.

    CarmineD

  50. My prediction El Lobo et al is that the Supremes just gave the GOP the winning battle cry for a Mitt Romney election this year and defeat of Dems in the House, Senate and WH: Repeal Obamacare and vote for candidates who will. It will unify the republican party and GOP voters.

    CarmineD

  51. El Lobo:

    The joke is on you. Obama and the dems won the battle [Obamacare] at the expense of the war [presidential election of 2012]. Within 4 hours of the Supremes decision, the Romney campaign fund took in $ one million. No comment from the Obama campaign on their fund raising.

    CarmineD

  52. El Lobo:

    My post about the Bonus Army and the friendship between Truman and Hoover vice the animosity between Truman and MacArthur was not addressed to you. Unless you are called peacelily and I wouldn't want to insult her that way.

    CarmineD

  53. "It's a great day to be an American!!..."

    I wouldn't call the day the House voted to hold AG Eric Holder in contempt of Congress civilly and criminally a great day in American history. Just the opposite. The highest prosecutorial official in the land held in contempt of Congress. A first in US history. On Obama's watch. Obama should have accepted his resignation.

    If one of those documents has any coverup evidence in them, it will be a scandal for the Obama Administration.

    CarmineD

  54. BTW El Lobo, if you read my conclusion, I said strictly opinion. Do you know the difference between historical facts and opinion. It's a rhetorical question. I know the answer.

    CarmineD

  55. Man, oh man...

    But the Propagandists are BUSY BEAVERS today!!!

    Then again, defending the indefensible is a FULL-TIME GIG for a bevy of our fellow posters!

    TeaTown residents are BUSHED...

  56. @Carmine - I know about MacArthur, et al.

    You wrote: "Here's a history lesson for you. Reagan, a virtual political unknown, was tied in the polls with Carter one week before the presidential election."

    That is incorrect, Carmine. Reagan was well know from his role in the movie industry during the McCarthy era of anti-Communist terrorism. As the president of SAG he gave the McCarthy committee the names of actors, directors, writers and others who were "Communists" and ruined their careers.

    You need to know that "Communists" at the time were nothing like the Soviets. It was a different thing then.

    There was a great deal of political knowledge coming during his years as Governor of California. At the time, what happened in California got noticed alot more than now.

    He was also known for his active support of Barry Goldwater's Presidential campaign. He gave many speeches on Goldwater's behalf.

    Reagan was very well groomed in the Republican establishment, especially since he was a converted Democrat.

    While the politician Ronald Reagan was very well known at the time, he was also known as an actor and host on TV. His program, Death Valley Days, was very popular at the time, and many were sorry to see him leave his host role to campaign for Governor.

    Ronald Reagan was all over the place before he ran for President.

    Jimmie Carter was no match Reagan's shrewdness, prowess in public speaking, and acting.

    Plus, Carter had to make some very unpopular decisions in trying to control runaway inflation and increase in oil prices.

    Then came the Iran hostage affair, which Reagan and Iran both used to their political advantages.
    ~~~~~~~~

    By the way, you know all those rebates we see today on so many products, they came about as a maneuver during the Carter administration.

    Because of the runaway inflation and increases in oil prices, Carter instituted some price controls. You can imagine the reaction from business. If they lowered a price to a sale price in order to get customers, it would be stuck there.

    So, rebates came into being. Businesses could maintain their price, but offer a rebate for the portion they would like to give to the customer. Businesses liked that so much that they have remained.

    I may not be wording that correctly, but it is essentially what happened.

    Rebates were considered a deceptive practice, but now everyone gives them no thought. Funny how time and new generations think of things that raised alot of complaints as now normal.

  57. @teamster -

    "Wiki states that if anybody finds incorrect facts
    and can prove them, thay will correct them.

    Did you do that?"

    Answer: No, I don't correct them. Nor do a good many experts, of which I am not one.

    I only write of what I have experienced or what I know from experience and reading.

    For me Wiki is not a reliable source, but interesting reading.

    For any important information, I go elsewhere to validate information and sources, or learn new facts, to the best of my ability.

    I didn't offer that information about Wiki with malice, just information.

  58. We have many more people in the upper tax bracket than in the past, even if some are dropping off the millionaire list due to the economic crisis.

    I would like to share the history of the upper tax bracket percentage. This is not to say that those in this class could pay off the debt short of eliminating safety nets for people who have been severely effect from another Recession/Depression.

    It is just interesting to see how the upper bracket tax rate was very high at the end of the Great Depression forward through 3 wars.

    All the complaining now seems strange when nobody is suggesting anywhere near the rates that were in place during previous wars.

    Now, we have had 2 wars and much more, and there is no real sense of paying for them from any side.

    The upper tax bracket %.

    1940 Roosevelt..80% Great Depression
    1944 Roosevelt..95% WWII
    1948 Truman.....80%
    1952 Truman.....92% Korean War
    1956 Eisenhower.91%
    1960 Kennedy....91% Viet Nam War
    1964 Johnson....70%
    1968 Nixon......78%
    1972 Ford.......70%

    1980-1990 US Savings & Loan Banking Crisis

    1981-1982 Classic US Recession

    1988 Reagan.....25%
    1992 GWH Bush...40%

    1999 Clinton repealed the Glass-Stegall Act which was to keep another Depression from occurring again. Guess what?

    2000 Clinton....38%
    2001 GW Bush....35% Afghanistan

    2003 Invasion of Iraq

    2007 Global economic crisis, ongoing Depression or Recession depending on location, resulting from banking and Wall Street gambling, again.

    The upper tax bracket % remains at 35% due to extension of Bush tax cuts, which are due to end in 2013.

    Romney has proposed to reduce them to 28%

    Obama wants to let them revert to 40%

  59. Peacelily:

    You left out one tidbit about Reagan: Borax.

    CarmineD

  60. Carmine, that was the sponsor of Death Valley Days. I remember the 20 mule team hauling borax in the desert. I always thought about how darn hot it was for those poor mules.

    I just didn't feel it necessary to give a commercial plug. lol

  61. After all these years and still around. You have to make an exception.

    CarmineD