Daily Archives: July 23, 2011


Debt Political Theater Diverts Attention While Americans’ Wealth is Stolen


In the video above, Dennis Kucinich lays it on the line. It is harder and harder to ignore the truth of what he is saying. The Republicans and their wealthy friends are doing their darnedest to make it clear to everyone who is paying attention. I have faith that the message will finally break through, I just don’t know when or what catastrophe has to happen for enough voters to wake up.


Obama and the “Gang of Six”


Form the RawStory article Obama and the “Gang of Six” from which I got the above video:

James K. Galbraith: “Gang of Six” Plan is all about cuts not increased taxes; Obama represents Wall Street faction of Democratic Party

When I first heard that the Gang Of 6 proposal would lower the top marginal income tax rate rather than raise it, I felt that this would unlikely raise enough revenue. Galbraith comes right out and says what I wanted to try to not to believe, the proposal to raise taxes will in fact be a tax cut for the wealthy. In the usual lingo of politics, words have the opposite meaning to politicians as from what they mean to ordinary people in every day usage.

Even George H. W. Bush called this kind of thinking by politicians Voodoo economics.


Barney Frank: ‘There are worse things than default’


Quoting for the RawStory transcript of the above video in the article Barney Frank: ‘There are worse things than default’

“What do you say to the president?” Mitchell asked. “Is it better to default? You know, you’re the ranking member of Financial Services. You know what’s at risk here with the ratings services and everybody else that have now gotten into this situation… Is he going to lose the Democratic caucus?”

“Yes,” Frank predicted. “I’ve already voted to raise the debt limit. I voted to raise it earlier this year straight forward. And by the way, it’s not my debt limit. I voted against the war in Iraq and I voted against the Bush tax cuts. On my debt limit, I got a couple trillion left to go. I was very generous. I voted to raise the other people’s debt.”

“I don’t think the president should allow the irresponsibility of the right wing to say, ‘We’re going to shoot you if you don’t do this.’ No, I don’t want there to be a default but there are worse things than default. And worse things than default are wrenching the American government out of shape, losing the principle of majority rule that’s been such and important gift from America to the rest of the world, inflicting pain on the most vulnerable people in our society, continuing to spend hundreds of billions of dollars to subsidize military budgets all over the world and cut back on people here.”