Archive for July 24th, 2011

24
Jul
11

‘where things stand’

Steve Benen: …. as Sunday winds down, there’s no end in sight to the Republican-generated crisis ….Senate Majority Leader Harry Reid is stepping up, preparing his own creative plan:

Mr. Reid … was trying Sunday to cobble together a plan to raise the government’s debt limit by $2.4 trillion through the 2012 election, with spending cuts of about $2.5 trillion. He would seek to avoid cuts to entitlement programs, but it was unclear how those savings would be achieved … Notably, the plan does not currently contain any new or increased taxes, an approach that many in his caucus would probably balk at.

At first blush, it may sound crazy that Reid would present a “compromise” with $2.5 trillion in cuts with no additional revenue – in effect, a plan that could have been crafted by Republicans weeks ago – but in Reid’s defense, it’s worth emphasizing that the Majority Leader probably counts half of those savings (at least) from ending the wars in Iraq and Afghanistan.

In general, Republicans don’t consider cuts to be cuts unless working people are suffering in some direct way, so his approach isn’t likely to go over well, but if GOP officials want a $2.5 trillion plan with no revenues, Reid is prepared to give them one. Add it to the list of possible ways out.

….. in the meantime, Wall Street is gearing up for a very busy morning:

U.S. stock futures fell, indicating the Standard & Poor’s 500 Index will slump after rallying within 1.4 percent of a three-year high, as President Barack Obama and Congress failed to reach an agreement on raising the federal debt limit, intensifying concern of a default…..

I’d note for context that the Dow Jones Industrial Average and the S&P 500 both closed at roughly at three-year highs on Friday. Republicans will likely wipe out those gains very quickly.

Full post here

24
Jul
11

latest…

Thanks Bob

24
Jul
11

50

Full interview at NPR

Thanks COS

24
Jul
11

‘we the people are with you, mr president’

Dear Mr President,

As you well know, President Lincoln had these words for the US Congress in 1865:

The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies, all who question its methods or throw light upon its crimes…. corporations have been enthroned and an era of corruption in high
places will follow, and the money powers of the country will endeavor to prolong it’s reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed.”

What irony that the Republic’s first black President is the person called upon to defend everything that our Founder’s crafted and that 235 years of patriots have strived to achieve.

What irony that the Republic’s first black President now confronts the ‘party of Lincoln’ as it unabashedly strives to do what Jefferson Davis and his treasonous bandits failed to accomplish during their attempt to not just preserve enslavement but render the Republic a defunct democracy and, thereby, comprehensively deny the inalienable rights of each person irrespective of the color of their skin, their personal faith, their economic status.

Yes, President Obama, it comes to this moment that a non-white American citizen, a multi-cultural, empathetic, brilliant human being, a community organizer and eloquent statesman, a scholar and an internationally recognized champion of all that is the essence of the human spirit – it comes to you to lead America from the brink of the most concerted, vastly funded onslaught of all that our Declaration of Independence and our Constitution represent.

You have millions of your fellow citizens standing with you. No poll. No analysis. No pundit. No one can obscure for you the fact that WE THE PEOPLE are with you, Mr. President.

If we now face the 21st Century equivalent of January 1861, if we now face the 21st Century equivalent of April 12, 1861, Mr President, millions of Americans stand with you to preserve the Republic from the totally obvious threat by the very, very few ultra-wealthy, and ironically yet again, the under-educated, fear-driven, pitiful bigoted few whom enabled the destruction of the ‘party of Lincoln’ and replaced it with a pack of treasonous barbarians too inept to realize that in serving their ultra-wealthy, skillfully manipulative masters they are witless slaves – at least the slaves Lincoln and the Republic were trying to free knew they were slave. Oh, the irony.

Yes.We.Can. … DO.More.Together!

Bob

****

Sent by Bob to President Obama via the White House online form




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