THE CURMUDGEON CHRONICLE ©
AN IRREVERENT VIEW
Time Line: August 31, 2008
Date Line: Flemington New Jersey
Alan Blinder’s article in today’s NY Times points out that income inequality rose over the past 30 years: the gap (increased during Republican and) declined during Democratic administrations. He goes on to point out that while Democratic administrations have yielded greater gains for the lower and middle income citizens, the highest percentile of wealth lost little: their income grew but the rate was fractionally (0.23%) lower than the average growth across all economic sectors.
Nevertheless, blue collar and working class Americans elected Republican administrations in five of the last seven elections since 1980. Why has that result been achieved by Republicans and will the electorate continue to vote against its own best interest in 2008?
The public has been told of (and sold on) so-called “Republican military leadership”. In fact, the US never won a war under Republican leadership in the 20th Century. The First and Second World Wars were won by Democratic administrations; Korea and Viet Nam were lost by Republicans. The Iraq war is the creature of a Republican administration: we are losing lives, resources, alliances, moral values, and our standing through out the world because of ineffective military leadership. We are supposed to be a superpower, but we have become a paper tiger.
We are told that Republicans are fiscally conservative and champions of small government. The fact of enormous increases in government departments and bureaucratic infrastructure, huge deficits, unbalanced budgets, and a runaway national debt belie those statements.
Democratic administrations were responsible for the legislation that kept the greed of big business in partial check. As a result we developed the world’s best banking and securities infrastructure. Republicans removed the restraints: We have seen two trillion dollars sucked out of the economy and loss of banking capacity, the chaos of mortgage abuses, speculation in energy and power distribution that have led to Enron, Sub-Prime Mortgage collapses, and loss of control of our banking institutions to “Sovereign Wealth” funds.
We are looking at Russian dominance of oil and gas supplies in Europe and Russian designs on the Far East. We have belatedly lost the Cold War thanks to the judgment and military leadership of George Bush and the Republican Party.
Now that the speeches are over, it is time to consider the promises of the two Parties. The Republicans have offered nothing new and therefore their campaign promises would likely be kept if elected to run the country again. If you like what we have become and what you are experiencing now, re-elect the GOP.
The Democrats have set a tougher row to hoe. Their Platform includes: healthcare for all; cessation of war in Iraq; capturing or killing Bin Ladin; jobs created by energy programs and tax incentives for new jobs; a tax code amended to benefit the middle class and balance budgets; termination of tax benefits for special interests; reversal of constitutional violations created by the Bush White House;
education and benefits for Veterans; opportunities for youth through education, and policies and programs that will pay for those changes.
What is possible in that menu?
The winding down of war and occupation Iraq and an end to wasteful military contracts can happen: capturing Bin Ladin is another matter. A single payor healthcare system is not likely, but an extension of Medicare in some form is a possible compromise. Energy through wind, solar and hydro powered plants will start because Big Business wants it to happen. Environmental conservation will be a by-product of those programs.
Job growth will increase, with demand swelling toward the end of the next three years as construction and R&D investment come on stream. Housing demand should begin to grow by the end of 2009 and maintain a steady pace consistent with employment levels. Education for veterans and college assistance will happen to a degree measured by and keyed to tax revenues. The caveat is that Big Business has this country firmly in its grasp and any program that does not reinstitute regulation is doomed to failure.
The tax revenue base is the core of our ability to meet debt obligations and pay for development programs. Amending the tax code is crucial to success in budgeting and restoring the value of our currency. Business interests will fight to preserve favored positions embodied in current tax polices, replete with creases and folds to safeguard their interests. That must change and we must stop increasing income inequality.
We can get to the finish line if we have a crash course educating the electorate to vote on the basis major issues, and not decide the country’s future on matters like “Gay Marriage”
If the media would heed the request of Mr.Obama to see the election is fought on major issues and not on nonsense, we would all be a lot better off. I give you as an example the current uproar about the Republican VP nominee. McCain has selected a gun-toting, “good old gal” from Alaska. Once you have said that you have exhausted the topic.
Why is Ms. Palin’s anointment more worthy of coverage than the issue of Veterans’ benefits?
Happy Labor Day
Howard Stamer
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