Fool Me Once, Shame on You…Fool Me Twice, Call Me A Racist?
by Bill Simon
There are three kinds of politicians I don’t like:
1) Those who are stupid.
2) Those who think I’m stupid.
3) Those who are stupid and think I’m just as stupid to fall for their bullsh**.
This is the case this country is faced with now from President George W. Bush with this recent issue of the managment of American ports being taken over by a company owned by the United Arab Emirates. I now believe he is not only stupid, but he actually thinks everyone else is just as stupid as he is.
Bush’s reaction to the members of Congress who questioned the deal (“If you pass that legislation to block this deal, I’ll veto it!”) has all the signs of someone more intimately involved in the outcome of this matter than what appears on the surface.
Back during the 1990s when Rush Limbaugh was always holding the Clinton Administration’s feet to the fire, he taught me one very valuable lesson: Follow the money. Well, it’s too bad that Limbaugh has lost that ability since he became a servile sychophant to everything spewed out of the Bush/Cheney White House. I’m still a Republican but I toe no line when it comes to stuff that stinks.
Because, with $6.8 Billion on the line if the sale of the port managment company goes through and is taken over by the United Arab Emirates, something smells mighty fishy coming out of the Bush White House right now with their reaction and amazement that any member of Congress would DARE question the President’s decision. Mighty fishy. To the point where I suspect someone close to the President stands to make a chunk of money off of approving the deal.
According to a FOX News online story, the agreement to sell the ports management company to the UAE had a special clause written in the sale documents. It stated “the [White House Review] committee must agree not to formally investigate the purchase and Bush must not move to block the sale for national security purposes.”
Oh, okay..sure, where do we sign THAT deal to just blindly allow a country that had two of the 9-11 hijackers originate from there control over the managment of our ports?
And, when anyone from Congress has questioned this, the Bush Administration can do nothing else but either threaten a veto or accuse the questioners of being “racists.” Yeah. We’re all just a bunch of racists.
And then, we have Homeland Security Director Michael Chertoff weighing in to support the Bush admin’s decision. Let me tell you something, after the story last week in the Washington Post about two screwballs from a Maryland Homeland Security trying to regulate what someone can search for on a public library computer, I don’t CARE what comes out of Chertoff’s mouth, unless it’s some sewage from New Orleans. That guy is just another Bush sychophant who was not chosen for his abilities, but rather for his ability to act as a shill for the Bush White House.
Finally, there’s White House Spokesman Scott McClelland. In a an excerpt I saw today on the news, McClelland, in yet another moment of defense for Bush’s actions (or, inactions, in this case) said “We’ve had top people in the administration looking at this issue because it’s important to the security of the country. We’ve had experts in Homeland Security examine this deal and we think it’s a good deal…”
Do you (“you” being the blog reader) remember watching the movie Raiders of The Lost Ark? Remember the scene at the very end when Dr. Jones/Harrison Ford is sitting in a room with the two government hacks and he advises them that the Ark is something that has to be examined closely because they don’t know what they have, etc., etc.?
And then the head hack answers Dr. Jones that they have “top scientists already looking into it,” Dr. Jones asks him “Who?” The hack just answers “TOP…..PEOPLE.” And, in the end, nobody is seen looking at the Ark because it is packaged-up in a crate and wheeled off to rest in some big guvment warehouse.
Yeah, that’s what we have running our country right now and looking at deals like this port one. TOP….PEOPLE….you know, like Mike Brown…Mike Chertoff…Harriet Miers….all the top ones Bush has access to are all watching out for our country and our backs…
Technorati Tags: President George W. Bush, United Arab Emirates, Follow the money, Raiders of The Lost Ark
March 1st, 2006 at 5:12 am
PCDavis,
Try posting without the personal attacks. You are very well versed in the liberal spin of personal destruction, though you haven’t gotten it down to an art yet, and of throwing up strawmen to hide behind.
Again, you have not offerred one shread of anything that shows you are correct in any way on any issue.
As for the tax cuts being only for the very rich, you must define very rich as anyone who pays taxes. Those cuts were across the board rate reductions.
As for the economy, it is doing a lot better than what it was back in the forth quarter of 2000 and the first quarter of 2001. That is the six month period that had the negative growth that was used as signalling the start of the recession. Keep in mind, that was Clinton’s final budget, occurred before Bush’s tax cuts and the majority of that time was before he became President.
Gee, those nasty facts keep getting in the way of a good spin line. By the way, I think I could probably do that with the majority of your arguments against Bush. Just be honest and say that you don’t like this administration because they are psuedo-right wing and not from the left.
March 1st, 2006 at 5:19 am
Mr. Konop,
I liked that article. The problem with the trends that are mentioned is that they go back a lot farther than just five years ago. That type of problem has been going on for over forty years that I know of. I live in a mill town that has watched the mills disappear as the jobs went overseas.
I just find it interesting that the dates didn’t go back to show that the problems mentioned existed for the previous eight years too. In fact, they could follow that all the way back to the 1960’s. That would touch both parties equally. Eventhough the Republicans have held the White House for the majority of those years, Congress was controlled by the Democrats for more of those years. I think that balances it out.
March 1st, 2006 at 5:32 am
Mr. Konop,
I forgot to point out something that I said on 2/14 at 4:19pm on this site.
“As far as Mr. Bush and company, I think one of the biggest failings is their record on government spending. They have expanded spending more than any other administration, to include FDR, in our history.”
Again, that is a good article. However, I still think it fails to point out that these problems go back a long time!
May be it is time to vote Libertarian?
March 1st, 2006 at 9:25 am
david, You said up the way that bush and co. had done a lot of good things. I have thought and thought and can’t think of any. Fill us in on some of the good things bush has done for all the people of this country, verifible things, not dreams, not myths. We already know the great things he has accomplished in Iraq.
Tax cuts have never helped the economy yet the conservatives keep promoting the old myth and bush proved it again. Gotta hand it to ye, ye stay right on the talking points and stray very little. We pore dumb liburls just don’t understand the genius of bush and everything is the fault of the democrats and Clinton.
Ye gotta remember david, not everyone is as dumb and easily fooled as you are.
March 1st, 2006 at 9:35 am
Actually, in this case, I thnk PC may be right.
Our economy appears to be humming along due, not to taxcuts, but to increased government spending. And, the increases are quite substantial, as seen by each year’s deficit, along with the growing debt.
Cutting taxes while increasing the size of government by spending more is NOT a “conservative value.” It’s a smokescreen.
March 1st, 2006 at 4:04 pm
Yet, it seems that every time that higher taxes are implemented, the economy stalls and slips in to recession. With the Clinton tax increases, the greatest raise in taxes took effect in 1999. By October 2000, the economy had stalled and was in negative growth.
Another strange thing occurs when taxes are lowered. The economy grows. This happened in the early 1960’s under John Kennedy, in the 80’s under Reagan, and again under Bush.
With high taxes, you remove money from the economy and thereby slow the economy. With lower taxes, that money is in the hands of the people who spend it and thereby grow the economy.
That isn’t talking points. That is economics 101.
PC Davis, you should really look at history. Lower tax rates have always increased Federal Revenues by expanding the tax base and grown the economy. Higher tax rates have caused the economy to slow and leads to lower Federal Revenues as the tax base shrinks due to cost cutting measures of corporations.
As for the higher government spending not being a conservative value, I will agree with that and is one of the things I have against this administration. If you will scroll up to my comments of 2/24/2006 at 4:19pm, you will see that I said, “As far as Mr. Bush and company, I think one of the biggest failings is their record on government spending. They have expanded spending more than any other administration, to include FDR, in our history.” So, as you can see Mr. Simon, I agree with that whole heartedly!!!
Again, as I have said several times before, there are enough things against this administration without having to manufacture anything.
As for Mr.PC Davis, the problem we have with the deficits is not due to the tax cuts, it is due to the increase in Federal Spending!!! The Bush Administration has increased spending by $1.50 for every increased of $1.00 in Federal Revenues. That leads to deficits.
March 1st, 2006 at 4:08 pm
Judicial response to political grandstanding by NJ Gov Corzine…At least the judge has a clue unlike the xenophobes out there…
Federal judge nixes New Jersey lawsuit against ports deal
By JANET FRANKSTON
Associated Press Writer
March 1, 2006, 2:19 PM EST
NEWARK, N.J. — A federal judge on Wednesday ruled against a request by New Jersey to order an investigation into a United Arab Emirates company’s takeover of some U.S. port operations.
U.S. District Judge Jose Linares also said the state will not be privy to documents the company gave to a federal committee reviewing the deal. Linares said the state “needs to show an immediate need for those documents.”
The $6.8 billion acquisition would allow Dubai-based DP World to buy major commercial operations at ports in New York, New Jersey, Baltimore, Miami, New Orleans and Philadelphia. Critics of the deal say it could compromise national security.
The Bush administration agreed Sunday to the state-owned company’s request for a 45-day investigation of the deal’s potential security risks, and Linares said that review should be sufficient.
“The very action now is taking place,” said Linares, who added that if the review does not take place, the state could reargue its case.
New Jersey Attorney General Zulima Farber said despite the judge’s decision, she was satisfied because she believes the state’s lawsuit prompted the company to agree to the 45-day review.
“I expect the investigation to be above board and real,” Farber said after the ruling.
In court, a lawyer for the Justice Department said the administration had not received a letter from the company formalizing the 45-day review.
Farber said if the letter doesn’t come, the state will go back to court.
The state had argued that the company’s promises of a 45-day review was not enough of an assurance it would occur.
Ori Lev, a Justice Department attorney, had argued the company already has committed publicly to the review and the court action is not needed.
“It simply ignores reality to claim that is not likely to happen,” he said.
Lev said the request for the documents was a “frivolous claim” and said New Jersey has not identified any legal basis for its contention that Gov. Jon Corzine is entitled to the documents.
Linares said there is no reason for the state to review the documents until a deal is approved. If that happens, the court could appoint a person with appropriate security clearance to review the material and then decide whether to release it to New Jersey officials, the judge said.
Farber said New Jersey needs to see the documents viewed by the federal committee to weigh how Garden State officials would respond to potential risks.
“The people of New Jersey and the governor of the state of New Jersey are in the best position to assess risks,” she said.
Farber said that neither she nor New Jersey’s domestic security chief had the highest level of national security clearance. Applications for those clearances are pending, she said.
The federal government argued in a filing Monday that documents sought by the state are confidential, and urged the court to reject the demand.
In briefs filed Tuesday, lawyers for the state responded that the company’s control at Port Newark could adversely affect national security and safety could be compromised if the state is denied access to documents and information, which would be reviewed by the state’s Office of Counter-Terrorism.
March 1st, 2006 at 6:46 pm
david, Pure nonsense, tax cuts have never stimulated the economy nor increased government revenue. Quite to the contrary after the 1993 targeted tax increase by Clinton, the economy enjoyed the greatest expansion in our history. The economy recieved no benefits from the bush tax cuts and have not responsed to them. This is an ole conservative myth proven wrong again and again.
By the way, every time the conservatives are in power government and spending always grows, look at reagan and now bush. Another conservative myth—smaller government. When conservatives say “smaller government” they mean take the money from the programs that help people in need and give it to the wealthy who don’t need it.
Wondering where that list of the good things bush has done for all the people of this country is? You didn’t forget it now did you?
March 1st, 2006 at 8:40 pm
PC Davis,
You need to check your facts on the effects of tax rate reductions. Oh, and by the way, I am far from “very rich”, but I got a tax cut from Mr. Bush.
Using Mr. Reagan’s tax cuts as an example (since that information is complete), you will find that Federal Revenues increased by over 26% during his Presidency. That was with three separate tax cuts! Also, we had quite a run in the 1980’s of the economy expanding and growing. Actually, it continued until Bush 41 increased taxes. Interesting, isn’t it?
Oh, and don’t forget that Mr. Clinton’s tax increase of 1993 was to be phased in over a seven year period with the highest increases to take effect during the last two years of the plan, which would explain the economy going south during his last year in office.
Now, as to what good Mr. Bush’s policies have done, what source do you consider credible?
The Bureau of Labor tells us that nearly 4.8 Million Jobs Have Been Created Over 29 Straight Months Of Growth. Is that good?
How about Market Watch: “For The Fifth Year In A Row, Existing Home Sales Hit An Annual Record, Increasing 4.2% In 2005.”
Or the Census Bureau Reports On Residential Vacancies And Homeownership: “The Homeownership Rate Increased From 68.8% In The 3rd Quarter To 69% In The 4th Quarter Of 2005” and “The Hispanic Homeownership Rate Increased From 49.1% To 50%.” This is an historical high!!!
The Associated Press reported: “Sales Of New Homes Jumped 6.6% In 2005, Hitting Another All-Time High And The Fifth Straight Annual Record.” And, “Construction Spending Increased 8.9% In 2005, Setting A New Record.” And, “Orders For Large Manufactured Goods Increased 8.2% To A Record High In 2005.” And, “The Stock Market Had A Strong Month In January: The Dow Rose Nearly 1.4%, The S&P Climbed Nearly 2.6% While The NASDAQ Gained Nearly 4.6%.”
Then there is the Wall Street Journal, who said, “The Manufacturing Sector Expanded In January For The 32nd Month In Row” on February 2, 2006.
Gee, all of this good stuff that is coming about due to some of Mr. Bush’s policies and all of it effects the people of this country. Imagine that! I could go on, but this post is already long enough and I have proven the point.
March 1st, 2006 at 8:49 pm
PC,
I almost forgot. Who were those “targeted tax increases” of Mr. Clinton targeted towards? Was it the middle class who absorbed over half of the increases through either higher prices, less service, and higher rates for their bracket? Or, perhaps it was the people on Social Security, which saw their tax rates increase by a substantial margin?
Just wondering. Incidentally, before you go shooting your self in the foot, you may want to research those increases. All of the above is accurate. So much for taxing only the “very rich”.
March 1st, 2006 at 11:18 pm
Bush “good things”:
– Avoided significant recession despite 9/11, .com bomb, Alan Greenspan, etc. by implementing tax decrease, taxpayer rebates.
– Liberated Afghanistan
– In process of liberating Iraq
– Appointed many minorities to critical high level cabinet positions
– Appointed conservatives to Supreme Court
– Unlike previous presidents, helpend maintain his party’s majority in congress
– Hasn’t been caught getting a Monica in the Oval Office from an intern younger than his daughters
– Millions of jobs created, economy growing, manufacturing base expanding, prosperity for all who desire to pursue it
– Bravely took on the 3rd rail of politics, Social Security…not a win yet, but at least he stepped up and promoted privatization. If some of GOPers in congress had an ounce of courage, it would be law now….same goes for Fair Tax.
– Famous Bush statement: “Axis of Evil”, famous Clinton statement: “depends on what the definition of ‘is’ is.”
– Bush Doctrine; spread freedom and liberty…Clinton Doctrine; spread yourself out on the bed…what blood, put a little ice on it.”
20 years from now history will judge this presidency. If freedom spreads throughout the Middle East replacing century old hostilities, he will go down as one of the greatest. If on the other hand it blows up in his face, then he at least tried unlike most of his predecessors.
March 1st, 2006 at 11:29 pm
David,
You are right about the trend on the economy. This is not a party issue it is an economic policy from both sides
that is a race to the bottom. Thanks jk
March 1st, 2006 at 11:51 pm
Pete Peterson former Republican Treasury Secretary wrote in his book Running On Empty ,a tax cut is not a tax cut unless you cut spending at the same rate. All you are doing is deferring debt with interest.That is why when Congress lifted Pay As You Go things got out of control.Thanks jk
March 1st, 2006 at 11:53 pm
bb—That was good, haven’t laughed that much in a while. You conservatives are more fun than a barrel of monkeys, the only problem is the monkeys are a lot smarter.
No kidding, I was serious when I asked for “all the good things that bush has done for all the people of this country”, I didn’t ask for a rehash of your wildest dreams. Arn’t you a little afraid that things have blown up in his face already?
Your little list is pure nonsense from a little man given to proclaiming nonsense. Why not try a little reality for a change.
March 2nd, 2006 at 12:35 am
david—-You got a big tax cut huh? How do you like your tax cut on dividends ad all that good stuff?
Of course revenues increased during reagan’s tax cutting spree, he raised taxes on the middle and lower middle class working man. There was no run up in the economy during reagans second term, the economy was in the doldrums most of the time. When bush 1 raised taxes things picked up some but also fell back untill Clinton raised taxes and the economy took off and in spite of greenspan raising interest rates to keep from “overheating” that toward the end of Clintons term things had slowed down. When bush took over greenspan dropped interest rates 15 times in the bush early years to try to offset the effects of the tax cuts but ran out of room at the bottom.
29 months of job growth, how about the 31 months of job loss, still haven’t caught up with jobs loss yet.
There is no way to connect the bush policies to the other growth you listed. Have you ever heard the word “cyclical”? That growth might better be described as in spite of bush policies. You conservatives are so desperate for something to defend bush with I expect any day for you to say “the sun came up this morning and was bound to have been bush’s tax that made that possible”. Read bb’s list, it is a good one if ye like comedy.
The country is not back to where it was when bush took over, unemployment is higher, the stock market has treaded water for 5 years, most of the new jobs are low paying service jobs, not as many jobs were created as were lost, we are trapped in a quagmire in Iraq, and on and on.
Clintons tax increase was on the top 3% of the country. It worked great-longest and greatest economic expansion in our history.
Again there is no way to tie any of the things you mentioned to the bush policies so I’m still waiting for some verifible things bush has done for the good of all the people of this country.
March 2nd, 2006 at 5:46 am
PC Davis,
You live in a fantasy world. Perhaps you can explain somethings for me. Here is just a short list of questions.
1. If the Bush tax cuts is what caused the economy to sour, how did they effect the economy in early 2000 when the stock market started to decline and growth started to slide?
2. Since Ronald Reagan’s tax cuts were across the board, meaning that if you paid taxes you got a tax cut, how did that raise taxes on the middle class?
3. When Bush 41 raised taxes, a recession, which cost him re-election and gave Clinton the line that it was the worse economy in 50 years, started barely one year later. How is that the economy taking off?
4. If the Bush years have been part of a cyclic occurance, couldn’t the same be said of the Clinton years?
5. If the county is not back to where it was when Bush “took over”, then please explain the 4.7% uneployment rate, the stock market being over 11,000 (or close to it), increases in housing starts (a leading barometer of economic health), etc?
6. If it is impossible to tie any of what I mentioned to Bush policies, why is it that some of the top economists in this country have already done that?
7. Why would those independant news sources from which I quoted rehash my wildest dreams? Don’t say it is because they are conservative, they are anything but that.
8. Clinton had an economic boom with growth of barely 2%, Reagan’s second term saw the economy in the doldrums most of the time with growth over 4%. How is that an accurate representation of the facts?
9. The stock market has returned to the record highs that it was experiencing before the Clinton recession started it sliding and before the attacks of 9/11. The number of jobs created total more than 3.5 million, where as there were just over 2 million reported as lost by the Democrats. If Iraq is a quagmire, how did it get there so fast (isn’t that what you liberals have been claiming since day one (that Iraq was a quagmire)?
Now the final question attached to that last number, with these facts, how can you honestly say “The country is not back to where it was when bush took over”?
The fact is that you are the most partisan person on this site. You refuse to accept history and facts in light of your bias. You have proven yourself to be pathetically lost in social aspects of you life.
I have defended, with facts from several independant sources, every claim you have made against conservatives. You have yet to offer anything other than opinion in defense of what you have claimed. Where are your cooberating facts? The truth is, there are none!
Please, PC, do us all a favor, stop your blind loyalty to the Democrats. I have critisized this administration in this thread a few times, but the principles I stand for have not waivered. You, on the other hand, have shown only a blind, mind numbed existence and adherance to a leftist philosophy that has failed everywhere it has been tried.
March 2nd, 2006 at 7:24 am
Key factors to consider is since the passing of NAFTA in the early 90’s the saving rate of American family went from 11% to negative 1. Wages have going backwards for the majority of Americans while healthcare is rising 4 times faster than pay.Also one third of consumer spending is people refinancing their homes and using the money to pay off debt . The truth is this is a trend that has been happening since we started cutting bad trade deals and got into a race to the bottom with countries like communist China.
This real issue as Warren Buffet says is you can be a country that buys more than it sells ie trade deficits. As a Republican , I do think President Bush and Congress made things worse with out of control spending on pork deals. Yet for Democrats to stand up and not realize that trade deals like NAFTA,CAFTA,China WTO…. was a bi-partisan deal that is killing the middle class is not being objective.
You can not fix a problem until you are honest about the issue.We need Smart trade , fiscal responsibility and immigration reform.Thanks jk
March 2nd, 2006 at 9:23 am
Perpetual Cynic, what on the list I posted is fantasy? You are a perfect representation of why the left is out of power — no ideas, no vision, no concept of reality. Enjoy second place, it will be yours to occupy for quite some time.
Bart
March 2nd, 2006 at 9:43 am
Bart,
No one denies wages are going backwards , while healthcare,childcare,energy cost and college is all growing faster Than wages. Bart, I will make it clear , I have been a Republican for a long time. Being a Republican does not come close to my faith, family,country and neighbors. Bart you have the right to hold the party interest ahead of your country, but that is the difference between us. That is why Bart, people on all sides are supporting me over Tom Price.Thanks jk
March 2nd, 2006 at 9:44 am
David,
What top economists are tying this ‘rebound’ to Bush economic policies?
The unemployment rate is not an accurate gauge of the economy. Most of those laid off have opted for the self-employment route with many still not up to their previous income status. Most of the jobs created are in lower-paying sectors and are in government. That says a lot for a conservative President when most of the jobs he creates are in government. Many of the other jobs are in weaker sectors. Take a look at manufacturing jobs. All tanking. The door has been opened by NAFTA, CAFTA, and other assorted ‘door wide open’ policies that have allowed companies to flood to other nations leaving thousands without jobs. Go to any rural town that thrived on small town manufacturing and you’ll see them all dying now. It is that way all over GA. What is left are the low wage jobs filled by migrant workers.
Bush’s economic policy has caused the loss of the middle class jobs while filling the economy back with fluff jobs working in weaker, lower paying sectors. The government size has increased to record numbers and many of the ‘jobs created’ are done so within government.
How can you honestly look at this economy and the stats and say that things are wonderful or better than they’ve ever been?
How can you say that tax cuts while bloating the government and borrowing heavily from foreign sources to record levels is a good thing? A few positive numbers in your mind doesn’t cut it when it comes down to not only a record setting heavy debt, but a debt based on foreign borrowing. We owe the world in record money. If anything major happened in the world, we’d go under. We’re tied to world events. Bush has this country hanging on by a string. Even Greenspan cautioned Bush on his borrowing and record debt and deficit. Is this wreckless behavior in a world where war is on the brink in nmerous locations a sound fiscal policy?
March 2nd, 2006 at 9:53 am
Craig,
What do you think of the article I posted from Paul Roberts(Feb 28th 2006 10.15AM)? Do you not think after reading this that Democrats hand are dirty as well ? Please comment thanks jk.
March 2nd, 2006 at 9:53 am
Konop,
“race to the bottom” — tired cliche.
You are absolutely suffering from a severe case of economic hypochondria. Do you just skip over good news when reported so you can maintain your Chicken Little campaign?
Sorry to rain on your ‘race to second place’ in the 6th district, but here is a quick synopsis of good economic news:
Economic Growth Continues
Unemployment Rate Falls to 4.7 Percent
On February 3, 2006, The Unemployment Rate Fell For The Second Straight Month. The unemployment rate fell to 4.7 percent – the lowest monthly rate since July 2001 and lower than the average of the 1970s, 1980s, and 1990s. In January, the economy created 193,000 jobs and has created over 2 million jobs over the past 12 months, and more than 4.7 million since August 2003.
The Economy Is Strong And Continues To Grow
Consumers Are Confident. The Conference Board index of consumer confidence surpassed expectations and rose to 106.3 in January – the highest level in over three years. According to the Conference Board, the number of consumers saying that jobs are “plentiful” rose to its highest level in over four years. Additionally, the University of Michigan consumer sentiment index reflected strong consumer confidence.
Incomes Increase. Real disposable incomes rose 0.4 percent in December and were up 1.4 percent for 2005. Since January 2001, real after-tax income per person has risen 7.9 percent. Real household net worth is at $51.1 trillion – an all-time high.
Retail Sales Rise. Nominal retail sales rose 0.7 percent in December and are up 6.4 percent from 2004. In December, real consumer spending posted a solid 0.9 percent gain and increased 3.4 percent over the past year.
Manufacturing Continues To Expand. The Institute for Supply Management (ISM), a private research group, reports manufacturing activity grew for the 32nd consecutive month in January. The ISM’s manufacturing index reading of 54.8 indicates continued sector expansion. According to the Federal Reserve, total industrial production increased a solid 0.6 percent in December and manufacturing industrial production is up 3.8 percent over the past 12 months.
Durable Goods Orders Rise In December. New orders for durable goods surpassed expectations and increased 1.3 percent in December. New orders for machinery rose 6.5 percent – attaining the highest level since the series began in 1992. Over the past 12 months, new orders have increased 12.7 percent
Productivity Growth Is Strong. During the past four quarters, productivity has increased 2.3 percent. Productivity has grown at a 3.2 percent annual rate since the end of 2000.
Construction Spending Is At An All-Time High. Construction spending rose 1.0 percent in December. For 2005, spending reached a record $1.120 trillion – an increase of 8.9 percent over the previous record set in 2004. Housing starts in 2005 totaled 2.065 million units – 5.6% above 2004 and the highest level in over 30 years. Total sales of existing homes hit an all-time high of 7.072 million units in 2005 – up 4.2 percent from 2004. More Americans now own their homes than at any time in the Nation’s history, and minority home ownership is at a record high.
Inflation Remains In Check. The Consumer Price Index (CPI) fell 0.1 percent in December reflecting a fall in energy prices. Core CPI has increased a moderate 2.2 percent over the past year, indicating core inflation remains contained.
The President’s Agenda To Strengthen A Vibrant Economy
President Bush’s Agenda Will Ensure Continued Opportunity For America’s Workers And Entrepreneurs. In his State of the Union Address, the President laid out an agenda to maintain the economy’s momentum and ensure that America remains the leader of the global economy. The President called upon Congress to make tax relief permanent and to continue working with him to limit the growth of government through fiscal discipline and remain on track to cut the deficit in half by 2009. We have reduced the growth of non-security discretionary spending every year since 2001, and last year this spending was cut. The President is advancing pro-growth policies to make the health care system affordable and accessible; reduce America’s dependence on foreign oil through the Advanced Energy Initiative; continue to open markets to American goods and services; reform the immigration system and ensure secure and orderly borders; and encourage innovation through the American Competitiveness Initiative, which will double the Federal commitment to the most critical research programs emphasizing the physical sciences, modernize and make permanent the research and development tax credit, reform the job training system, and strengthen math and science education.
Bart
March 2nd, 2006 at 10:14 am
From Larry Kudlow:
“The naysayers are always quick to pounce on low-growth glitches in the economy, such as the Hurricane Katrina-induced GDP report for the fourth quarter. But a glitch is just a glitch. The greater reality is that the economy is growing nicely, jobs are being created, wages are rising, profits are strong, and productivity trends are excellent.”
For the full story, click here: http://www.townhall.com/opinion/columns/larrykudlow/2006/02/03/185247.html
March 2nd, 2006 at 11:56 am
John,
I think both parties are in deep. I consider myself an American first conservative second. I have a huge problem with the path the GOP has taken lately. WHile pretending to be the party of the grassroots and the American people, they have proven with such scandals such as Reed, Abramoff, Cunningham, DeLay, Ney, etc. that it takes grassroots to get elected but it takes money and special interests to keep them going. I guarantee you if major corporations had problems with the border issue or this ports deal, they’d have sunk some money into the politicians’ pockets and the politicians would be quick to sink some deals. But if the voters have a problem, a few opportunists would stand in front of the camera and decry the issue to look good and win some votes only to return to the status quo. Politics is money. Look at the ones in office. Once they are in office, they are told to start leadership PAC’s to stock up on money. Look at the House Speaker here in GA with that hush-hush little PAC he has. They have no problem whipping up the grassroots come election time but in between, it’s all about the money and special interest groups. I love the bumper sticker that says “Invest in America – Buy a Politician”. That speaks volumes to where we are.
Another issue I have is when Republicans have their feet to the fire in a scandal, they run back and prop up a picture of Bill Clinton. Or they run off to say Hillary this, Michael Moore that. Who’s in charge here? Anyone here of responsibility? Anyone think acting like a five year old and blaming everyone else when you did wrong is a strong character trait? I want responsibility. I want to hear, “Hey I made a mistake” rather than Clinton said or did the same thing or Dems do it all the time or it’s the liberal media’s fault or them just being biased. Sack up and act like a responsible adult.
March 2nd, 2006 at 12:35 pm
Craig,
You and Dave both think as I, the problem is with both parties. I think if we focus on the buy for policy situation we have with Congress ,than we all can fix the problem. The reason I am running is , I find most of us realize this is heading in the wrong direction. Also when you look at core views and values most of us agree.
The solution is , we most put aside our difference and work together take back our Congress.Both parties want us to debate who is more unethical , while they are picking our pockets. That is why I am speaking out, no matter what party they are in. We need new leadership , away from the party machine to be in Congress. You and Dave should be challenging your own Congressman. The thoughtfulness of your debate and response to my question , demonstrates that both of you would be great spokesman for change. You need to get evolved for your family,country and friends future.! Thanks jk
March 2nd, 2006 at 12:46 pm
PC Davis would like your views on Paul Roberts article if you have a chance.Thanks jk
March 2nd, 2006 at 9:50 pm
John, Excellent article. I had posted it over on a New York Times forum. Roberts is a very good writer and sticks to the real facts without being partisen.
John, I don’t live in Georgia now, lived in Roswell for 10 years in the late 80’s and 90’s. I live in west Texas not too far from the holy city of Midland, the claimed hometown of gw bush himself. I have been a subscriber of Bill’s newsletter for several years. We have had some pretty good arguments. What office are you running for and who is your opponent? I am not up on the races there.
The problem is, at this time, NOT both parties. The problem NOW is the party in power. The demos are a powerless disjointed (as always) group of people with no unity. They are excluded from the process at all levels and are no more than a little aggravation the the publicans. So many of the conservatives are happy to stand inside and point thru the window at helpless demos in the street and ignore the bull in the china shop with them. I do not know of any top republican that cares one whit about this country, do you?
March 2nd, 2006 at 10:04 pm
Craig, well done, I see you have a nice relationship with reality unlike a couple of true believers on this forum, a true believer is one that will believe anything as long as it isn’t true.
The truth will set ye free.
March 2nd, 2006 at 10:10 pm
bart—–To you and kudlow, horse manure. kudlow has no credibility, he reports things as he wishes they were.
March 2nd, 2006 at 10:42 pm
PCDavis,
One of the best Congressman in the country is near you in the 14th district Republican Ron Paul.You are right ,much of the leadership of both parties is bought and paid for by lobbyist. That is why I am running in the 6th district in Georgia , which includes Roswell against Tom Price.We need people like you to stand up and help take our country back. I would respect and appreciate your input on our Website and press releases if you have time.The Website is controlcongress.com. Thanks jk
http://www.house.gov/paul/
March 2nd, 2006 at 11:58 pm
david—-Here’s a little something for you to chew on.
Bruce Bartlett, author of Reaganomics and member of the Reagan and George H. W. Bush administrations, has a new book out.
Impostor: How George W. Bush Bankrupted America and Betrayed the American Legacy
Maybe this will wake up a few Republicans…
Bartlett’s attack boils down to one key premise: Bush is a shallow opportunist who has cast aside the principles of the “Reagan Revolution” for short-term political gains that may wind up hurting the American economy as badly as, if not worse than, Nixon’s did. As part of a simple, point-by-point critique of Bush’s “finger-in-the-wind” approach to economic leadership, Bartlett singles out the Medicare prescription drug bill of 2003- “the worst piece of legislation ever enacted”-as a particularly egregious example of the increases in government spending that will, he says, make tax hikes inevitable. Bush has further weakened the Republican Party by failing to establish a successor who can run in the next election, Bartlett says. If the Reaganites want to restore the party’s tradition of fiscal conservatism and small government, he worries, let alone keep the Democrats out of the White House, they will have their work cut out for them.
March 3rd, 2006 at 9:18 am
PCDavis,
I saw him on C- Span and he made it clear it was K Street lobbyist were writing bills that are bankrupting our country.The part I am most concerned about is how so many former conservative appointees of Republican administration are speaking out( Pete Peterson,Paul Roberts , Paul O’ Neal and Alan Greenspan). And many Republicans are tying to kill the messenger rather than listen to the problem.
I did 4 successful start up companies or turn around in a row in my industry. I have been ask what is my golden touch, one big factor is not believing your own hype. You can not fix a problem unless you are honest about the issue. Thanks jk
March 3rd, 2006 at 10:07 am
John, Ron Paul is an interesting guy but much to narrow for my taste. He is a libertarion more than a publican but had to run as a publican in order to get elected.
Texas has it’s share of loonies and tom delay. I think of delay as one of the 4 faces of evil-cheney, scalia, frist and delay.
There are some good voices from all parties willing to tell the truth, then there are those that are still afraid of the bush thugs.
March 3rd, 2006 at 10:34 am
PCDavis,
You are right it is not about party any more , but integrity. I have said many times in public the problem with the Republican party is not Democrats it is Republicans within the party. I do not want to pick on Bart, but both parties have to many willing to blindly follow the leadership. People like that think we are in a football game between parties , and they are more concerned about getting 50 yard line seats than our country.
March 3rd, 2006 at 12:36 pm
PC Davis,
Interesting that you would mention a book that praises Reaganomics and points out that the reason that Bush is ruining the economy is because he has abandoned those principles.
I agree.
His orgy of spending has far outpaced the new revenues that were created by the tax cuts. He is now in danger of crossing a line whereby he would cut taxes to the degree that they will negatively impact Federal Revenues.
The percentage of taxes being collected is a balancing act. If they are to high, Federal Revenues will drop as the tax base shrinks due to companies laying off to protect their bottom line. To small and you don’t have the population that is needed to take any new jobs to expand the tax base, thereby causing adverse effects to corporations who must now create artificial supply shortages to keep demand up enough for their products to produce high enough prices to protect their bottom lines. In short, you create inflation.
If you scroll up, you will see where I have complained about Bush’s spending spree several times.
At last!!! Something we can agree on!!!
March 3rd, 2006 at 1:28 pm
Craig,
To answer your question as to which economists are tying Bush’s economic policies to the current rebound are those at MarketWatch, the Brookings Institute, Heritage Foundation, as well as J. Edward Carter, Robert Krol, Cesar Konda, Larry Kudlow, and Edwin J. Feulner Ph.D. to name a few.
Keep in mind that I didn’t mention the economists on the board at the Wall Street Journal in that list.
March 3rd, 2006 at 1:29 pm
I would also suggest the book Running on empty by Pete Peterson. All of you would find this as a great book about about what we need to do to fix our economy.Thanksjk
March 3rd, 2006 at 2:11 pm
The problem is GDP is not a good indicator of health of the economy. GDP is gross not net. An example if I lower my pizza price by a third but increase sales at a lose this is not a good business model. We are told we can make this up in volume.look at our economy as GDP grew the saving rate in America went from 11% to negative 1%. Just because EXXON GDP grows how does that mean the average American is doing better?
March 3rd, 2006 at 3:06 pm
Merrill Lynch’s Rosenberg: Five Macro Misperceptions
Merril Lynch economist David Rosenberg discusses (pdf): Reassessing Hard Landing Risks
… I’d just like to go through briefly what I took away from a week-long marketing swing through Europe last week, because everywhere I went, I was greeted with these five macro beliefs, or what I call major macro misperceptions:
(i) that the U.S. economy is booming;
(ii) the consumer is going to remain underpinned by record wealth even as the Fed raises rates and the housing market slows;
(iii) that high-end retailing stocks will be safe because the ‘well off’ homeowner did not play a role in the housing boom;
(iv) interest rates are still far too low to generate any weakness in the economy;
(v) the tight labor market is on the precipice of triggering wage inflation, and therefore the Fed has much more to do.
See the link for Rosenberg’s discussion and many interesting graphs. Here are his comments on the US consumer:
Misperception #2 – “don’t worry about the consumer; the level of household net worth is at a record high.”
We heard that all the time, household net worth is over $50 trillion, and the level of bank deposits and money market fund holdings, are at record highs and somehow this accumulated savings will keep the consumer afloat even if the Fed tightens further. Well, we went back into the history books and found that U.S. household net worth hit a RECORD level in the quarter before every recession in the post-war era. Not only that, but in every recession outside of the 2001 episode when the equity market melted, household net worth rose throughout the entire period of negative GDP growth. So basically, net worth goes up before, during and after recessions, and it would make sense that with personal income setting new records practically every quarter, that the level of savings would too. In other words, the level of net worth is a pretty useless leading economic indicator, and the notion that households will draw down their level of savings – savings hopefully intended to fund retirement – to satisfy current consumption instead sounds pretty spurious to me.
March 3rd, 2006 at 4:05 pm
Is it just me or did this thread really stray off topic? Just an observation.
Don’t get me wrong, I think the two are related, but very slightly so. It is just funny that it has strayed from the DPI purchase of the company that runs several U.S. ports to the economy.
March 3rd, 2006 at 4:34 pm
Let’s get back on topic. Let me post a quote from Torrie Clarke, a former Pentagon mouthpiece.
“You know, I can forgive the American people because they’re busy. They’ve got things to do in their lives. It’s not their responsibility to learn the facts. It is their elected representative’s responsibility, and they’re shirking it.”
This is a huge problem with this Administration. There is an attitude in arrogance that the people don’t know what is going on and don’t know any better on the issues. This Northeastern elitist mentality that seems to recur in each Bush generation is causing a huge problem in policy and debate. The Bush Administration treats the people like unschooled children needing to be herded and guided as if we were cattle. Much of the speeches given by various Administration people are condescending in tone that seems to inject what we should believe and what we should do. We’re spoonfed sound bites and talking points to regurgitate out to others, especially the doubters. I find it humorous that we the conservatives who pride ourselves on individual thought and liberties have become the collective of one voice and one thought. Now with immigration and this ports deal, we see a rift in this whole groupthink mentality.
March 4th, 2006 at 10:07 am
Bart,
“The Cherokee County Republican Party stands for fiscal responsibility, lower taxes, local control of schools, property rights protection, traditional family values and decreasing the size of government. It is not expected that every member will agree 100% with all issues. But by joining the CCRP, member understands they have joined a party whose members overwhelmingly support the above principles. Member also agrees with the premise that less government is better than more government and local government is more accountable than the federal government.”
The problem is not what the party stands for , it is Republicans like yourself and Tom Price who have lost your way. If you can explain how Tom Price support or vote for Highway bill, Energy Bill,No child left behind and Drug prescription bill does not violate the mission statement I am all ears. Also Tom Price voting for CAFTA and WTO which gives Central America and Communist China a pass on following the local and national laws in our country is in line with the mission statement I am curious.
I will say it again the problem with the Republican party is not Democrats it is Republicans inside the party.The party will pay the price if it does not get back to the roots.
March 4th, 2006 at 10:30 am
Craig,
There is a huge problem with this administration. Likewise, there is a huge problem with Congress. If you were to take your post and replace the word Congress with the phrase of “this administration”, it would still ring true.
With the ports deal, we are seeing the populace not buy in to what the politicians say. That is a good thing as far as I am concerned.
However, we have politicians claiming that they are interested in our security when they are actually concerned about keeping the union vote, or some other special interest group happy.
To break the cycle of what you mentioned, as well as the problem the I just mentioned, it isn’t taking the money out of the campaigns as much as lobbying reform.
Of course, to trust the foxes (not the network news, PC :-)) with watching the hen house isn’t working very well either.
March 5th, 2006 at 12:19 am
News Archive
Bush loyalist comes out against port deal
March 3, 2006
BY LIZ SIDOTI Advertisement
WASHINGTON — One of the most prominent House Republicans on military issues said Thursday he would try to scuttle a Dubai-owned company’s effort to manage U.S. ports as lawmakers’ complaints about the Bush administration’s handling of the issue continued to spread.
”Dubai cannot be trusted,” said Rep. Duncan Hunter (R-Calif.), chairman of the House Armed Services Committee and normally one of the administration’s most trusted allies.
He called Dubai, part of the United Arab Emirates, ”a bazaar for terrorist nations” and asserted that the United States should not permit DP World to take over significant operations at six ports.
”I intend to do everything I can to kill the deal,” Hunter said.
2nd Arab company probed
Across Capitol Hill, lawmakers criticized the Bush administration anew following disclosures that the United States had launched a fresh investigation Tuesday into a proposed business deal by a second UAE-owned company.
The government initially approved DP World’s $6.8 billion purchase of London-based Peninsular and Oriental Steam Navigation Co.
But on Sunday, the administration agreed to a 45-day investigation of potential security risks to quell a political backlash.
”Too little, too late,” Hunter said.
AP
March 5th, 2006 at 10:04 am
Well then Hunter can get on the stick and find another mid east country willing to harbor American war ships, house American war planes and station American troops. What a joke.
March 5th, 2006 at 9:41 pm
Twilight’s Last Gleaming
By John Cory
t r u t h o u t | Perspective
Sunday 05 March 2006
Who are these people? These people who line their pockets with the lives of our loved ones? These gray men who lurk in shadows and kill the sunshine of democracy? These people who wear morality like a cheap suit pilfered from the collection plate of decency? Who are these people who have turned America into their own personal ATM machine? These are the people of the lie – Republicans.
Who are these people? These people who sit in spineless silence unable to speak in defense of America? These people who mime the words of our founders, afraid to act with independence? Who utter the words “We concede,” instead of “We the People?” These are the people who lie down – Democrats.
Newspapers no longer serve the public, only their corporate masters. They have wedged themselves firmly between the cheeks of power, a tissue to sanitize the bullshit. The media has finally achieved the ultimate self-delusion; broadcasting sitcom politics, and talking points of the throne, it has become the court jester with tinkling bells and curly pointed shoes: useless, untrustworthy, and fused in falsehoods and facades.
This is twilight’s last gleaming. Attention must be paid. Democracy is dying.
Bush and Company wants us to be afraid. Republicans sell us fear as they sell out America.
Democrats wait in the wings, picking up their pieces of silver to keep mum. Both political parties capitalize on all the fear.
Democrats think we will become so fearful of Republicans that we will have no other choice but to elect them. That is their incentive. Low profile, quiet acquiescence, and they think their silence will be rewarded.
This is not the time for silence. According to recent polls from Zogby, Fox News, Gallup and CNN, 72% of our troops believe the war in Iraq is a failure and we should withdraw. 64% of the public disapproves of Bush’s handling of Iraq. 69% of Americans are against the Dubai Port deal. 52% do not find Bush “honest and trustworthy.”
And yet Democrats can find no voice, no fight, no issue to unify them to protect “we the people.” Major print and media outlets can find no reason to investigate Republican scandals, bribery and lies, no reason to question an administration that started a war with a lie and failed its own citizens when Katrina hit, by lying about what they did or did not know. Katrina, like 9/11, left the boy king wide-eyed and unprepared. Leader of the free world? Most Americans think not.
When it comes time for voting, here is what I will remember: the silence.
If there is a voice for America, let them speak now. Let them speak for the poor women who not only will find abortion illegal, but will not be allowed birth control and contraceptives. Let them speak for the old and infirm who will not be able to have healthcare and cost-effective drug prescriptions. Let them speak for true family values of providing for our veterans and protecting our troops with proper body armor and ending a false war so no more loved ones have to die for a lie.
But most of all, let them now speak up for the one precious gift that is America – Freedom. Freedom of speech – Freedom to dissent – Freedom from illegal domestic spying. Freedom, sweet freedom for which our fathers, brothers, and sisters have fought and died for over the past 230 years!
Hunter S. Thompson warned, “Big dark coming soon.” Big dark is here.
Our Constitution hangs by a thread. Make no mistake, this is twilight’s last gleaming. It’s time to defend America, not sell it down the river of corporate greed. It is time to stand up, not slink away to fight another day, because there are no more days. The monarchs of mendacity under George Bush are dismantling democracy at every opportunity.
Democrats, you want my vote? Earn it! Get up off your ass and take a stand! Take back America. Stop whimpering. Throw out your Republican-lite Bush lickspittles and suit up for battle. We the people will support you if you speak up for the America we live in and want to preserve. You cannot claim victory simply because you kept the GOP from burying the Constitution while you let them drive it underground.
This is twilight’s last gleaming. Who will speak up for America?
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John Cory is a Vietnam veteran. He received the Purple Heart and Bronze Star with V device, 1969 – 1970.