This Memorial Day, I was thinking a lot about where we are as a country. We are a country because people were willing to take up arms to defend this land. The GI Bill (Servicemen's Readjustment Act of 1944) was written to provide educational or vocational training for WWII Servicemen. In addition to money for schooling, the GI Bill offered unemployment compensation for one year, low interest no down payment home loans amd low interest business loans. By 1947, universities like Michigan saw enrollments double or triple. That means the returning Servicemen took advantage of the GI Bill and educated themselves. In the last 60+ years, the education benefit has not kept pace with educational costs.
Senator Jim Webb has authored a bill to update the GI Bill (Webb-Hagel). Webb-Hagel is written to increase the educational benefit by approximately $50,000. The President is against it- say the new incentives will make it harder to retain personnel. The Congressional Budget Office (CBO) estimates that retention of service personnel at the first reenlistment point will drop from 42% to 36%. This is what Bush and McCain have cited as a reason for not supporting the bill. But wait, the CBO also estimates a 16% increase in new high quality recruits.
The bill passed, but Bush will probably veto it, citing other spending attached to the bill. Even worse, you now have republican members of Congress and their media shills saying that the troops don't deserve full benefits because this is a volunteer force! As far as I am concerned, our service personnel deserve full educational benefits, full healthcare from providers of their choice, and guaranteed housing. They deserve the best equipment, best support services, best housing, and the best of everything. That is a lot, but so is what they sacrifice.
Friday, May 30, 2008
Investors' Nightmare??
Investor's Business Daily has an editorial about a possible nightmare scenario of a Democratic-controlled government. The gist is be afraid for the Democrats- they will nationalize the Oil Industry and regulate profits.
The editorial mentions the above examples of potential business-killing / profit-killing measures the Dems would offer up. It also mentions the possibly of Obama bullying American companies, ie- governmental interference in Business.
Regulation seems to be the bane of Business. In 2002, Enron rocked the world in unintended ways. It collapsed in stunning fashion, taking with it accounting firms, part of the Houston Real Estate Market, a California Governor, and about $4-6B dollars in illegal revenues. Enron churned and burned Electricity- selling and reselling power to drive up the price in California. To date, the State of California and its citizens have yet to be properly refunded money stolen. In 2003, some Mutual Funds were busted for allowing certain Hedge Funds and large investors to execute late trades and market timing. The bottom line is the small investor was cheated. Those of us that bought into the hype of regular, long-term investing lost out to short-term investors that , in some cases were allowed to pump money into and out of the fund some fast that they were able to claim some profits without ever really investing their own cash. In 2008, we are seeing the US Housing market crater. Unregulated/poorly regulated financial institutions sold mortgages that people couldn't afford, then bundled loans to hide the risk and sold them off. There are 2.2M potential foreclosures today, and the companies responsible for this mess are still fighting regulation.
The bottom line is business is not particularly good at self-regulation, and everyone pays for the failures.
The editorial mentions the above examples of potential business-killing / profit-killing measures the Dems would offer up. It also mentions the possibly of Obama bullying American companies, ie- governmental interference in Business.
Regulation seems to be the bane of Business. In 2002, Enron rocked the world in unintended ways. It collapsed in stunning fashion, taking with it accounting firms, part of the Houston Real Estate Market, a California Governor, and about $4-6B dollars in illegal revenues. Enron churned and burned Electricity- selling and reselling power to drive up the price in California. To date, the State of California and its citizens have yet to be properly refunded money stolen. In 2003, some Mutual Funds were busted for allowing certain Hedge Funds and large investors to execute late trades and market timing. The bottom line is the small investor was cheated. Those of us that bought into the hype of regular, long-term investing lost out to short-term investors that , in some cases were allowed to pump money into and out of the fund some fast that they were able to claim some profits without ever really investing their own cash. In 2008, we are seeing the US Housing market crater. Unregulated/poorly regulated financial institutions sold mortgages that people couldn't afford, then bundled loans to hide the risk and sold them off. There are 2.2M potential foreclosures today, and the companies responsible for this mess are still fighting regulation.
The bottom line is business is not particularly good at self-regulation, and everyone pays for the failures.
Tanya Acker is my damn hero, pt 2
I wanted to make clear the Reagan connection here. During Reagan's first run for the White House, he met with Farmers in Iowa and other states. This was during the Farm Crisis- family farms were going under left and right, and there seemed to be no help in sight. Not only were the farms going under, but the Agribusinesses associated with them were going under as well. Towns were dying.
Reagan won over Farmers by sympathizing with their plight. He promise to bring relief. Farmers voted for Reagan, helping put him over the top. Within months, the Department of Agriculture issued a statement declaring that Farming was a risky business like any other, then declared it would NOT take major steps to save Farmers. Farmers, like so many groups became Reagan Democrats by voting against their own self-interests. They then voted for him AGAIN in 1984.
This is a critical time in our country. John McCain is promising to continue some of the same policies that have put us in this mess. If Working Class Whites feel more comfortable voting for the traditional candidate (White, Male), then they will be voting against much needed change.
Reagan won over Farmers by sympathizing with their plight. He promise to bring relief. Farmers voted for Reagan, helping put him over the top. Within months, the Department of Agriculture issued a statement declaring that Farming was a risky business like any other, then declared it would NOT take major steps to save Farmers. Farmers, like so many groups became Reagan Democrats by voting against their own self-interests. They then voted for him AGAIN in 1984.
This is a critical time in our country. John McCain is promising to continue some of the same policies that have put us in this mess. If Working Class Whites feel more comfortable voting for the traditional candidate (White, Male), then they will be voting against much needed change.
Wednesday, May 28, 2008
Tanya Acker is my damn hero!!!
Tanya Acker often appears on Verdict with Dan Abrams. After the West Virgina Primary, Dan's panel was blasting Obama left and right over his perceived inability to connect with Working Class White voters. Never mind that Obama has won states like Iowa, Montana, and Vermont - all very White states, the narrative has become he doesn't connect- that feeds into the elitist smear.
I was watching Dan's show and was fuming. Just when I was ready to change the channel and catch a rerun of some random Football game on the NFL Network, Tanya spoke what was at the core of my anger with the discussion. To paraphrase, Tanya wondered how the rejection of Obama by West Virginians was Obama's problem. She went on to say that if West Virginians would be willing to go against their own self interests and vote for McCain, then they would get what they deserved. Tanya's words silenced the rest of the panel, and no one had a word in reply. Tanya's statements reminded me of part of a HBO special by Whoopie Goldberg. Whoopie talked about Reagan's courtship and betrayal of Iowa Farmers in the '80s.
If Obama is an Elitist that does not understand the Working Class, does a guy whose wife is worth $100M understand?
I was watching Dan's show and was fuming. Just when I was ready to change the channel and catch a rerun of some random Football game on the NFL Network, Tanya spoke what was at the core of my anger with the discussion. To paraphrase, Tanya wondered how the rejection of Obama by West Virginians was Obama's problem. She went on to say that if West Virginians would be willing to go against their own self interests and vote for McCain, then they would get what they deserved. Tanya's words silenced the rest of the panel, and no one had a word in reply. Tanya's statements reminded me of part of a HBO special by Whoopie Goldberg. Whoopie talked about Reagan's courtship and betrayal of Iowa Farmers in the '80s.
If Obama is an Elitist that does not understand the Working Class, does a guy whose wife is worth $100M understand?
Indiana VoterID Law
The Supreme Court did what we expected- they narrowly upheld a Republican-driven law that requires all voters to present government-issued IDs before voting. The problem is this law passed in Indiana is based on the possibility of voter fraud. In other words, Republicans have gotten what they have long sought- a law that allows them to turn away voters- Democratic voters.
Here's the deal- this law is supposed to prevent possible fraud- you going in and voting as someone else. It is not in response to actual cases of people pretending to be someone else and voting. The result is an attempt to stop some of the Democratic Parties core constituencies from voting. The remedy is simple, get a state-issued ID. The costs in Indiana seem reasonable and requirements are here. Yes, $13 might not be easy to come by, but the state has provisions in place for issuing the cards for free.
My big problem with the law is getting to the BMV Offices. The offices themselves are open Tuesday through Saturday, and according to the BMV Website, were open the Monday BEFORE the Indiana Primary. People without vehicles might have problems getting to one of the offices. MY IDEA- take your friends to get IDs. As part of the DNC GOTV Program, there should be local sites where people can go to get a ride on BUSES to BMV Offices.
Here's the deal- this law is supposed to prevent possible fraud- you going in and voting as someone else. It is not in response to actual cases of people pretending to be someone else and voting. The result is an attempt to stop some of the Democratic Parties core constituencies from voting. The remedy is simple, get a state-issued ID. The costs in Indiana seem reasonable and requirements are here. Yes, $13 might not be easy to come by, but the state has provisions in place for issuing the cards for free.
My big problem with the law is getting to the BMV Offices. The offices themselves are open Tuesday through Saturday, and according to the BMV Website, were open the Monday BEFORE the Indiana Primary. People without vehicles might have problems getting to one of the offices. MY IDEA- take your friends to get IDs. As part of the DNC GOTV Program, there should be local sites where people can go to get a ride on BUSES to BMV Offices.
Wednesday, May 21, 2008
Indiana and the General Election
There were a couple of issues that popped up during the Indiana Primary that made me think. As I mentioned in my last post, I've been very busy, and had little blogging time.
First off, many people were concerned that Lake County, IN took way too long to report results of the Democratic Primary. My real concern wasn't the amount of time it took to report, but the explanation that there was a huge number of absentee ballots to be counted- more than usual. To me, this is a double-edged sword- registered voters were actively exercising their voting rights, but at the same time, the county elections board did not respond to the large turnout.
This could mean trouble in the general election. Given the high numbers of newly-registered Democrats, Boards of Elections need to be prepared for those new voters to vote, PLUS large turnout from existing voters. Case in point, Porter County, IN ran out of ballots! This is unacceptable- especially given the number of new registrants. Porter County officials have vowed to have enough general election ballots for every registered voter in the county.
My concern/fear is the Provisional Ballot. If there is a question regarding your eligibility, the provisional ballot has been established as a way for you to vote, and have that vote counted if a judge rules in your favor. In 2004, we saw provisional ballots used in several places because the polling places ran out of ballots! I do not want a judge deciding whether my vote gets counted or not.
First off, many people were concerned that Lake County, IN took way too long to report results of the Democratic Primary. My real concern wasn't the amount of time it took to report, but the explanation that there was a huge number of absentee ballots to be counted- more than usual. To me, this is a double-edged sword- registered voters were actively exercising their voting rights, but at the same time, the county elections board did not respond to the large turnout.
This could mean trouble in the general election. Given the high numbers of newly-registered Democrats, Boards of Elections need to be prepared for those new voters to vote, PLUS large turnout from existing voters. Case in point, Porter County, IN ran out of ballots! This is unacceptable- especially given the number of new registrants. Porter County officials have vowed to have enough general election ballots for every registered voter in the county.
My concern/fear is the Provisional Ballot. If there is a question regarding your eligibility, the provisional ballot has been established as a way for you to vote, and have that vote counted if a judge rules in your favor. In 2004, we saw provisional ballots used in several places because the polling places ran out of ballots! I do not want a judge deciding whether my vote gets counted or not.
Catch-up Blogging
I have been crazy lately. End of the semester, grading, and yes INTERVIEWS, have kept me very busy. After a power nap of a few hours, I plan on doing a bit of blogging on issues regarding the Presidential race, race and swagger!
Saturday, May 3, 2008
Being out of touch gives me gas!
The issue du jour is the Gas Tax Holiday. Both Senators McCain and Clinton want to introduce a Gas Tax Holiday to offset the high cost of Gasoline. Hilary is demanding a vote in Congress and challenging her peers to show whether they are for the people or big oil. To be fair, Hilary has included paying for the holiday by imposing a Windfall Tax on Oil Companies.
Experts have panned the idea. Why? Simply put, if the tax is suspended, but the price of gas doesn't change, then the Oil Companies stand to make an additional $10B in profits! Obama points out that not only does the industry benefit, there will be an immediate loss of jobs caused by highway projects not getting funding. I think that may be a little dramatic, but it does reflect the idea that Federal Excise Taxes on gas are used to fund highway projects- projects that should be replacing many aging infrastructure. This link to the American Society of Civil Engineering Infrastructure Report Card has links to stories regarding infrastructure problems, as well as the actual report card. If you want a good understanding of why a tax holiday is a bad idea, just read the report.
Being out of touch is the claim made against Obama by McCain, yet this quote is telling: "I want to give the American consumer a little bit of relief just for the summer. Maybe they'll be able to buy an additional textbook for their children when they go back to school this fall." If Obama's calculations are correct, and since Hilary is not disputing them they just may be true, then each family looking at saving an average of $35 for the summer. John obviously doesn't know what textbooks cost today. One of my students borrowed a book from me, since the book in question is about $115! Read the rest here.
Am I knocking $35? Weighed against the cost of vital infrastructure repairs, yes I am. I am willing to pay that $35 if it means the roads will be safer. Remember the I-35W Bridge in Minneapolis collapsed less than a year ago, and two of the three remaining candidates for President are willing to pay footsie for votes!! Check out Bagnewsnotes.
Experts have panned the idea. Why? Simply put, if the tax is suspended, but the price of gas doesn't change, then the Oil Companies stand to make an additional $10B in profits! Obama points out that not only does the industry benefit, there will be an immediate loss of jobs caused by highway projects not getting funding. I think that may be a little dramatic, but it does reflect the idea that Federal Excise Taxes on gas are used to fund highway projects- projects that should be replacing many aging infrastructure. This link to the American Society of Civil Engineering Infrastructure Report Card has links to stories regarding infrastructure problems, as well as the actual report card. If you want a good understanding of why a tax holiday is a bad idea, just read the report.
Being out of touch is the claim made against Obama by McCain, yet this quote is telling: "I want to give the American consumer a little bit of relief just for the summer. Maybe they'll be able to buy an additional textbook for their children when they go back to school this fall." If Obama's calculations are correct, and since Hilary is not disputing them they just may be true, then each family looking at saving an average of $35 for the summer. John obviously doesn't know what textbooks cost today. One of my students borrowed a book from me, since the book in question is about $115! Read the rest here.
Am I knocking $35? Weighed against the cost of vital infrastructure repairs, yes I am. I am willing to pay that $35 if it means the roads will be safer. Remember the I-35W Bridge in Minneapolis collapsed less than a year ago, and two of the three remaining candidates for President are willing to pay footsie for votes!! Check out Bagnewsnotes.
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