How the Grinch Stole America

Inspired by Ted Cruz’s reading of “Green Eggs and Ham” on the Senate floor.

Every Who in America

Deserves healthcare,

But a faction of Republicans

Think that isn’t fair.

Boehner/Grinch

That faction hates Obama, his whole administration

They’ll be happy with nothing but psychic castration

of the Democratic party and all that they’ve worked for:

Especially entitlements that are aimed at the poor.

But healthcare, “Oh this comprehensive bill

That is the one thing we really must kill.

Even though it’s been watered down,

Negotiated and shredded,

And made into the law of the land where it’s headed!

No, we must stop it! And right in its tracks!

We’ll come up with a plan that’s light on the facts.

Fervent obstruction – that’s what we do!

Blatant destruction of all that is good.

And when it’s all over,

When the smoke clears,

When the Whos realize we’ve preyed on their fears,

We’ll make something up

And put it on Fox news.

We’ll all get behind Bachman and Cruz.”

It might be that Boehner’s head isn’t screwed on quite right.

Some say that his tan was sprayed on too bright

But I think that the most likely reason of all

May have been that his balls were two sizes too small.

But whatever the reason – his balls or his tan,

Boehner sat on the Hill without a plan.

And in came the Tea Party with crazy beliefs

To cave to the rich and to give no relief

To the people out there who got them elected

Who saw in Obama not Christ resurrected

But a man with dark skin who was their greatest threat

The biggest socialist that they’d ever met.

Whose father was Kenyan and who hid his college papers.

It was enough to give old Southern women the vapors.

But the worst part of all wasn’t the unprovable facts,

But the fact that this left-leaning commie was black.

That’s the one thing they hated – the blacks blacks blacks blacks.

They hated that more than corporate tax.

boehner

His legacy was healthcare, so they vowed to defeat it.

Personal responsibility was their idea! They felt so cheated.

So instead of supporting it as they had in the past

They vowed to kill it and with it, the middle class.

“Repeal it again!” they cried, (forty-two times)

And they took up their time, not preventing crimes,

By legislating the laws that focus on safety

Like restrictions on guns – no that would be crazy.

They took over the House and made it their business

To obstruct and destruct and to ask no forgiveness.

They were deaf to the voices of people who need it

Welfare recipients could all just go beat it.

No matter that the people, like Cindy Lou Who,

A girl without money, just like me and you.

Whose mother is sick and they aren’t insured.

Because if you’re poor in the US there isn’t a cure.

And Cindy Lou has been home all semester

Her Head Start program was lost in sequester.

Her mother can’t work because they can’t afford a sitter.

And the steady decline put her health in the shitter.

She always worked, paid her taxes, did her fair share,

And now, when she needs it, they wanna defund Obamacare?

“You have the right to pursue happiness –

Whatever that means.

But healthcare is not part of the American dream.”

But the law was held up by the highest court in the land,

And Ted Cruz, well he got up to take a stand,

A filibuster to defund it – and he was sober.

But it was all set to start in October.

His idea didn’t work, the wheels were in motion,

But Cruz is playing a long game, he wants his promotion.

They would take the whole government and shut it right down!

Boehner’s like, “This isn’t a game, I’m not fucking around.”

But it’s too little too late, it was out of his hands.

He was backed into a corner and gave into demands.

large

And Obamacare came,

And in all the confusion,

The Whos failed to see it was just a delusion

To keep them from seeing the hostile takeover

By those who wanted to give a makeover

To that old paper that started it all

That said that we should be governed for all

And not a small faction

That represents one percent

(A very small fraction)

And quiets dissent.

But when a small group plots against us

That’s called sedition.

Like a cancer, it’s a preexisting condition.

The tyrannical forces didn’t come from the left.

It was gotten in plain sight, it was a blatant theft.

It came without guns, it came without tanks,

It started when they deregulated the banks.

We opened the door for the Tea Party bigots

And now the current’s too strong to turn off the spigots.

We need is to issue some slips that are pink

To start over in Congress before the ship we’re on sinks.

What we need is what they call a market correction –

We need to remember in the midterm election.

The End

 

 

Tea Partisanship

Entitlement programs don’t imply that people have some childish sense of entitlement as some Republicans would have us all believe; the programs are precisely referred to as such because we are entitled to receive them.

Boehner and ObamaPart IV of The Season of Our Disconnect

Perhaps the best, most succinct commentary I heard regarding the acrimonious debt ceiling debate was during a BBC broadcast this past week. When asked what the sentiment was in Europe regarding the countdown to American debt default that Congress narrowly avoided on Aug. 2, the reporter said there was a sense of bewilderment that the United States would voluntarily default on its obligations when so many countries were struggling against doing so involuntarily. Not only did this highlight how silly the entire debacle really was but there’s something about hearing it delivered in a British accent that makes it sound all the more ridiculous.

The Republican Party, of which I have been affiliated with since coming of voting age, has never behaved so badly. This is a party that touts itself as pro-business and anti-tax, with every member running amok trying to out-Ronald Reagan one another. Yet anyone who runs a business will tell you that cutting costs can only achieve so much and that, at some point, revenue has to increase proportionate to the growth of expenses. Theoretically that means these pro-business Republicans should recognize the need to increase revenue, i.e., taxes, and any increase in revenue should be ascribed to expenditures with no direct, offsetting revenue line.

Since the greatest single unfunded liability in America is defense and military spending, which accounts for 25 percent of the budget, this area seems like the most logical place to cut expenses. Instead, the Republican Party has waged an all-out assault on entitlement programs such as Social Security and Medicare, which Americans have fully supported for decades. They demonize these programs, sullying them as “entitlements,” and deriding them as welfare-like benefits for ungrateful, undeserving idlers living off the government teat.

Entitlement programs don’t imply that people have some childish sense of entitlement as some Republicans would have us all believe; the programs are precisely referred to as such because we are entitled to receive them. Why? Because we have already paid for them. Check out your pay stub – it’s called FICA. Republicans are trying to terrify Americans with the misleading threats of disappearing future Social Security payments and dwindling Medicare coverage because they’re trying to obfuscate the fact that the wars in Iraq and Afghanistan will have cost the nation nearly $3 trillion between the direct cost of the engagements and subsequent social costs such as veteran care. There’s no pre-tax line item or fee for “Wars We Didn’t Ask For” on your paycheck. We have been giving the government the funding necessary to keep these programs alive for generations and they keep blowing money on conflicts we never wanted. Giving the American government Social Security and Medicare funding is like lending cash to your meth-addict uncle who promises he’s on the wagon and just needs a few bucks to get back on his feet. He’ll disappoint you every time.

And then there’s Reagan. True-blue Republicans who like to evoke imagery of the Gipper could use a refresher course and a reminder that when President Reagan cut taxes in the beginning of his administration, the jobless rate jumped above 10 percent (higher than under Obama) and the federal deficit grew to a then-unprecedented level. Desperate to get things under control he raised taxes seven times during his administration and increased federal spending so much that he left office with a tremendous deficit despite myriad tax hikes. Moreover, total tax revenue as a percentage of GDP was more under Reagan after his initial tax cuts than they are today and we just fought two, decade-long wars. Middle-class Republicans should also recall how Reagan nearly doubled the Social Security withdrawal (your money for “safe keeping” remember) but capped it at a certain income level. Or as Matt Taibbi writes in his recent book Griftopia: “That means that a married couple earning $100,000 total will pay roughly the same amount of Social Security taxes that Lloyd Blankfein or Bill Gates will.” This was nothing short of a heist on the middle-class in America, the memory of which is something today’s Republican leaders have entirely backwards.

Throughout the tenure of the Obama administration, Republicans, who are working to please Tea Party activists−the lowest common ideological denominator in the GOP−have continued to distort Reagan’s legacy and persist in blowing up America’s revenue line while adding unfunded liabilities on the expense line. Now they’re smashing our piggy banks to pay for their transgressions while continuing to extend the most favorable corporate tax environment in the history of the country.

Dig this. According to the Congressional Budget Office, corporate income tax accounts for only 1.3 percent of GDP (compared to individual income taxes, which are 6.2 percent of GDP). The last time it was this low was in 1983 when corporate tax was only 1.1 percent of GDP and the federal deficit was so big Reagan increased taxes every year thereafter. According to the Brookings Institute, the last time corporate income tax receipts were so low was in 1940. In the 1950’s, the golden era that Republicans really love to imagine reliving, the average was 4.76 percent of GDP. That’s quadruple what it is today. Shrinking corporate tax receipts is just one of a host of lopsided tax issues that favor corporations and wealthy Americans and force the government to borrow eye-popping sums of money.

The Democratic Party under the feckless and waffling leadership of Barack Obama has likewise capitulated to the right wing lunatic fringe. Because Democrats aren’t putting up a fight and caving to every unreasonable demand made by House Speaker John Boehner and Senate Minority Leader Mitch McConnell, the Tea Party’s whipping boys, a corrosive new partisanship has emerged in America. Ignorant, ill-informed zealots running a government against the people have officially hijacked Abraham Lincoln’s government of the people, by the people and for the people.

 

Capitalism and Regulation Are Not Mutually Exclusive

Deregulation became the mantra of free market capitalists who view all government intervention into the markets as a complete affront to our democratic principles, as though the two are somehow connected. It sounded sexy and even seemed to be working for a while until our speculative chickens came home to roost and laid rotten eggs in all of our coops.

John Boehner NY Economic Club
House Speaker John Boehner speaking in New York

Osama bin Laden’s body has barely come to rest on the ocean floor and the Republicans are back in attack mode against the Obama administration. Speaker of the House John Boehner is taking his spending-cut crusade on parade again in the run-up to the vote to raise the nation’s debt ceiling. In doing so the Ohio Republican is not only acquiescing to the clamorous Tea Party faction of the GOP but to the special interests that define their politics.

The debt ceiling debate is the ultimate diversion from the more genuine debate that should be taking place in Congress. This is not to say it is without merit. But like so many political disputes, our politicians are intent on examining the symptoms of a crisis instead of deconstructing the root causes. The fact is our enormous national debt is a result of fighting two costly, protracted wars abroad and bailing out hooligans on Wall Street who engineered the greatest heist in American history. The problem is the GOP wants to fix everything else they deem to be wrong with the system without addressing these two key components of our indebtedness. 

Boehner and company are continuing the charade begun when Ronald Reagan was king and Alan Greenspan was God. Deregulation became the mantra of free market capitalists who view all government intervention into the markets as a complete affront to our democratic principles, as though the two are somehow connected. It sounded sexy and even seemed to be working for a while until our speculative chickens came home to roost and laid rotten eggs in all of our coops.

In a speech earlier this week to the Economic Club of New York, Boehner returned to the key conservative talking points, excoriating Washington for pandering to banks that are too big to fail without addressing the deregulatory fever in the Beltway that created this situation. He criticizes instead the government’s bailout response, saying that our “debt mostly borrowed from foreign investors caused a further erosion in the economic confidence of America and increased uncertainty for millions of private sector job creators.” If you asked these so-called job creators why they aren’t adding more people to the payroll or taking on more capital projects, I highly doubt the resounding answer would be America’s debt. Under President Reagan our debt skyrocketed but these same job creators doubled-down and invested in America, making the logical question: Why not now? Boehner went on to claim that the “massive borrowing and spending by the Treasury Department crowded out private investment by American business of all sizes.” That’s funny. I could have sworn that by keeping interest rates at practically zero, business owners would have been encouraged to borrow and invest in their companies with alacrity. 

This is where the GOP message gets into funky territory. You would be hard-pressed to find an economist who would deny that pumping bailout funds through the financial sector prevented a total collapse of our economic system. Everyone won in the short run. But because Congress was too cowardly to fix the structural regulatory issues in the banking industry, the big winner overall was Wall Street. The bailout allowed the banks to partake in riskless arbitrage (borrowing money at no cost and investing it in guaranteed government bonds for example) and bypass the private sector and individuals in desperate need of lending support. It’s one of the primary reasons the Dow Jones Industrial Average continues to rise despite a still-flagging economy; the dollars are flowing at the top with very little pulsing through the rest of the economy. But the concept of arbitrage is largely lost on Americans and our politicians are reluctant to talk about it in a meaningful way, instead choosing to focus on the national debt.

What’s worse is that the banks have presumably used a good portion of this money to invest in opaque investments that have artificially created crises in the agriculture and energy sectors. I say “presumably” because no one can really be sure where some of this money is being invested because the regulatory environment is still so broken and corrupt that the funds are impossible to track directly. It’s the pricing and behavior of these markets that gives them away. Energy supply is at an all-time high, demand is still perilously low yet the markets are soaring because unknown companies are pouring billions of dollars through small commodities exchanges and wildly impacting the prices of these investments. This phenomenon translates directly into high gasoline prices and rising food costs, thereby suppressing the recovery and obliterating household savings. Here again Boehner changes the subject, suggesting that the Obama administration is somehow keeping “energy resources under lock and key.” Further, he accuses Democrats in Congress of “creating more uncertainty for those who create American jobs” by raising “the specter of higher taxes.” Another direct attempt to divert the conversation from reality. After all, didn’t we just extend the Bush-era tax cuts? And weren’t these the same tax cuts that were in place prior to and during the economic meltdown?

This year Forbes added 214 new billionaires to its list of the world’s richest people. That’s up from 97 new billionaires last year. In perusing the list of the richest Americans, it’s interesting to note where the wealth of those whom Boehner touts as “job creators” is derived. Hedge funds, investing, oil, pipelines, retail, chemicals and pharmaceuticals are the industries that dominate the roster. Most of these companies employ relatively few people compared to the billionaire industrialists of old. No infrastructure companies, few manufacturing companies, and a handful of high-tech companies appear on this list. And of the ones that do appear, most of them manufacture overseas. I guess in Boehner’s world a job created in Bangalore is equal to one created in Scranton. What many of these industries do have in common is that they represent the vast majority of campaign contributors to people like John Boehner.

So it begs the question: Who is Boehner trying to protect? In his New York address he repeatedly refers to the “arrogance of Washington” even though that’s where he’s been working since 1990. Arrogance is not trying to pay for past transgressions by taxing those who devastated the economy. Arrogance is cutting the government’s primary funding source via an extension of the Bush-era tax cuts and attacking entitlement programs instead of the regulatory issues that brought down America’s entire economic system.

Where the White House fails is by indulging in debates over the debt ceiling and releasing oil reserves while bickering over entitlements. Our economy cannot, will not, improve until our elected officials have the courage to restore sanity to the marketplace by re-implementing the regulations that properly governed debt, equity and commodities trading for decades.

In recent testimony to the Congressional Oversight Panel on the impact of the TARP, Columbia University professor and former Clinton advisor and chief economist of the World Bank Joseph Stiglitz argued that “we have not repaired our banking system, and indeed, with the enhanced moral hazard and concentration in the financial sector, the economy remains very much at risk.”

Joseph Stiglitz

These arguments are nothing new to the Nobel Prize-winning economist, who in 2008 warned of the enduring negative consequences of deregulation. At a hearing held back then by the House Committee on Financial Services, Stiglitz invoked Adam Smith, saying that “even he recognized that unregulated markets will try to restrict competition, and without strong competition markets will not be efficient.” One of Stiglitz’s solutions to this is to restore transparency to investments and the markets themselves by restricting “banks’ dealing with criminals, unregulated and non-transparent hedge funds, and off-shore banks that do not conform to regulatory and accounting standard of our highly regulation financial entities.” For emphasis, he notes that “we have shown that we can do this when we want, when terrorism is the issue.”

He’s right in every aspect. This is economic terrorism that Americans are unwittingly enabling by allowing politicians in Washington to skirt the issue of financial reform and to skip tighter regulations in favor of continuing tax breaks, cutting spending on infrastructure and demonizing programs that provide security for the sick, the aged and the unemployed.

Yet no matter how often people of Stiglitz’s ilk provide testimony, no one on these committees either understands or cares what is being offered. I suppose that just because we call them “hearings” doesn’t mean anyone is necessarily listening.

Republicans Force Tax Breaks (Down Our Throats). Merry X-Mas America.

In this photo rendered from video via C-SPAN, shows the final vote tally on the bill to avoid income tax increases on Jan. 1. Acting with uncommon speed, Congress moved toward final passage Thursday night Dec. 16, 2010 of sweeping, bipartisan legislation to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for victims of the worst recession in 80 years. (AP Photo/C-Span)

When the Republicans took control of Congress during President Bill Clinton’s first term, it took a while before the “Gingrich Republicans” imploded. Newt Gingrich rose to prominence as Speaker of the House by helping to craft and deliver the Republicans’ “Contract with America,” a document outlining their legislative initiatives. One of the young Turks in Gingrich’s inner circle was John Boehner, the man who is about to take over the position once occupied by his former mentor.

Boehner has been getting a good deal of face time and ink lately. Although he has been around the national political scene for two decades, the country is now getting to know the man with the tan and the new plan for America. Borrowing a page from the Gingrich playbook and delivering the Republicans’ “Pledge to America,” Boehner has put himself on the front lines of the war against President Barack Obama alongside Senate Minority Leader Mitch McConnell, the man who stated that his No. 1 objective is to ensure that Obama is a one-term president.

Both men are unapologetic when it comes to defending big business, tax cuts for the wealthiest Americans and political campaign donations. McConnell’s all-night filibuster against the McCain-Feingold bill for campaign finance reform and the infamous incident when Boehner handed out contributions from tobacco companies to his colleagues on the House floor speak volumes about what makes them tick.

And that’s cool. It illustrates who they are and what their intentions are: power and control. But lately the platitudes they’re offering through McConnell’s measured speeches about wanting Obama to change and Boehner’s public blubbering on 60 Minutes sound disingenuous, particularly in light of Republicans strong-arming Congress to push through the Tax Relief Unemployment Extension Bill, extending what are known colloquially as the “Bush Era Tax Cuts.”

Douglas Adams, author of The Hitchhiker’s Guide to the Galaxy, famously wrote, “If it looks like a duck, and quacks like a duck, we have at least to consider the possibility that we have a small aquatic bird of the family Anatidae on our hands.” Perhaps an appropriate update might be: “If it looks like a duck, quacks like a duck, and shits all over your living room carpet while flapping about and knocking over your valuables, we have to consider the possibility it’s actually an elephant in duck’s clothing.” And this is no lame duck we’re talking about here. In fact, this duck is vibrant enough to hobble America with its arrogance.

The bill has Americans quibbling over the fine points, namely the extension of tax breaks to the wealthiest Americans. While this might be deplorable, it’s hardly the most outrageous thing happening at the moment. The bill is essentially a third-round stimulus package that pumps nearly $1 trillion back into the economy over the next two years, requiring the federal government to dig deeper into debt while we attempt to pull out of the Great Recession. It’s a gamble that may actually boost President Obama’s approval ratings in the coming months if consumers begin to feel that things are turning around. Or not.

Either way, the real crime here is the way in which Democrats and Republicans alike have negotiated this bill and the $8 billion of proposed earmarks that come along with it.  What’s remarkable about this number is that it exceeds the entire amount requested in the Zadroga bill to compensate 9/11 responders who are dealing with illnesses related to cleaning up the toxic aftermath of the World Trade Center collapse. (Watch Jon Stewart’s reaction piece to Republican hypocrisy related to 9/11 – you’ll laugh through your tears.)

The wave of anger that swept away so many incumbents and installed an entirely new cadre of jackals in November was powerful and effective. But anger burns faster than Boehner’s two-pack-a-day habit.

President Obama may be taking hits for being cool and aloof, but by the time the next election cycle comes around he may look like the only sane one in the room. As president, maybe he should be calm, cool and collected. What has me flummoxed is how the tri-state congressmen and senators aren’t publicly losing their minds every day like Rep. Anthony Weiner did with Rep. Peter King – and that was an argument over procedure by two guys who favor the Zadroga bill.While Republicans in Congress have been busy masquerading as thinking, feeling human beings, the Democrats are busy feasting on their favorite meal: themselves. Any hope that they would muster some palpable outrage to aid the Zadroga bill quietly drowned in the tidal wave of tax cut rhetoric. Not even Sen. Charles Schumer, one of the most powerful Senators in modern times, could marshal enough votes to bring the bill forward, let alone raise his voice. As he took the Senate floor to urge his colleagues to “step up to the plate” and pass the 9/11 Health Care bill, he calmly yielded the floor four minutes later. At least Boehner cries when he thinks about billionaires having to pay 3 percent more on their taxes.