Wednesday, September 17, 2008

gop just don't add up

- can't escape arithmetic -
for me it's gop numbers never add up, which with most americans struggling to balance overwork and life much less a checkbook or saving (it officially hovers around 0% after all), it probably doesn't matter until it does, then we overreact sideways.

we've already a 1 trillion hole right now arising from the 2 huge tax cuts and/during 2 all-out wars, borrowed with interest from china. mccain wants to double-down on the tax cuts so we've another 3.3 trillion piled on. and for all his talk of cutting Washington pork to pay for the wars and a tax cut double-down, so far he and palin have managed to come up with 17 billion of earmarks to cut. 4.3 trillion – 17 billion. it'd be funny if it wasn't so serious.

it's not possible to escape the basic arithmetic. folks can dogmatically assert that tax cuts solve all economic problems big or small but the evidence say otherwise. despite blazing worker productivity and resulting corporate and market growth, during the past 7 years, wages have fallen drastically behind year-over-year net inflation. Aka empty growth, as benefits accrued to investors. no pay raise for 7 years has never happened before. growth supported not by healthy wage-based growth, rather through the not-so-filling credit and financial bubble kind that is now surreally collapsing right before us.

lop-sided tax cuts for rich spurred an overflow of investments that were shunted to capital markets, much of it overseas, for the best returns as rich don't spend (thus rich). and now we've a gluttony of financial and credit assets going through a firesale w/ prices tanking. and consumer demand, 2/3 of economic activity, has dried up w/ no wage growth or bubble credit left. main street's neglect is now the curse of wall street and the wealthy.

the world is not black and white. if it was, the past 8 years have been utterly pointless, never-ending excuses and right-wing trolling notwithstanding. we deserve so much better.

- past and present -
first time ever in history we go at it with 2(!) full-scale wars simultaneously. and borrowing with interest [for our children] to fund it all. with the bulk of those monies from a hostile power that's outcompeting, out educating, and outsmarting us. and we're now borrowing even more to bail out freddie to fannie to aig. and folks wonder why the u.s. dollar has become monopoly money, worth as much as it was 8 years ago. since w, it has dropped 30%. now with the recent financial crisis, it's worth half. we are the new peso.

and it was mccain's "it's a mental recession you nation of whiners" econ advisor then sen. phil graham who chaired, wrote, and rammed financial deregulation through with an all-gop congress that tied the hands of all financial regulators. and now, it's supposedly the government's fault despite the gop neutering the depression-era forged glass-stegall rules to begin with. yet they are at it again smearing and doing a wholly false rewrite of history, while the fed and treasury are now picking up after their original sin of negligence, rescuing the American economy from an imminent meltdown.

this year alone with 8 straight months of rising unemployment now @ 6.1%, a total of 605,000 net jobs lost (it takes 110,000 jobs a month just to keep up with population growth, which we've not had for god knows how long), and for the first time since sept 2002 unemployment has infected all economic sectors and education levels, beyond just financial and construction, for both college and high school graduates (in fact, fresh college graduates have another record high 15% unemployment rate).

not to mention the lowly fact that there's been almost $3,000 a year average loss of families' incomes under w, in contrast to the $7,000 a year bump under clinton.

- here we go again -
ignorance is often bliss. republicans won't own up to 8 years of failure. they know to win is to double-down with more excuses, distractions, and blame. always about toughness, smarts be damned. so not surprisingly, back in the real world, it's been all talk with zero delivery (measurable ones anyway).

right wingers keep making up a storyline a day to distract and demagogue their way to another 4 years, hoping to run down the clock, keeping palin in seclusion, away from scrutiny as if she should on faith be slotted automatically into the 2nd most powerful job on earth. after less then 1 week of mccain's go-with-his-gut vetting, and a few years of shux i'm like you a small 5,000 folk town mayor and 1.5 years as governor of alaska that osmotically provided russian expertise. move over condi & her elitist stanford russian creds; here's one ready out of the box who's been soaking it up naturally.

on the big issues that matter, republicans offer the same ol'. tax cuts for all economic problems big and small. bleed the government and allow markets to be free for all at beckon whim of the rich, while allowing middle-class wages to anchor drop 7 straight years in a row.

Eod, republicans are repackaging the same ol' dogma they've been proffering for 3 decades. and it always takes wonky democrats to come in and fix the wholesale havoc that the republican fraternity bring about every time they bluster their way into power with empty rhetoric and one-lining agendas.