Political Nutz

Observations on the pathetic state of American politics

Monthly Archives: July 2011

The Un-American Mr. McConnell

In an interview today Senate minority leader Mitch McConnell discussed his view of the effect of the debt ceiling negotiations on the Republican Party:

(Democrats) want to blame the economy on us and the reason default is no better an idea today than when Newt Gingrich tried it in 1995 is that it destroys your brand. It would give the president an opportunity to blame Republicans for a bad economy. Look, he owns the economy. He’s been in office almost three years now, and we refuse to let him entice us into co-ownership of a bad economy.

Congress, especially the House, does own the economy and every Senator and Representative should feel personally responsible for finding solutions to the nation’s economic woes.  Mr. McConnell has previously stated that his primary objective is to make Mr. Obama a one-term President. Thus he now makes it clear that he is willing to damage the U.S. economy still further and prolong the misery of millions of unemployed Americans in order to achieve that goal.

“To hell with the working class folks as long as the Republicans gain the White House in 2012,” he’s saying.

$700 Billion for Nuclear Weapons

While the GOP continues its campaign to reduce the federal deficit by taking dollars from retirees, kids, and students, it refuses to even look at Pentagon spending.  One area that should be addressed is the budget plan to spend over $700 billion on nuclear weapons over the next decade.  Essentially, Pentagon planners intend to double the nation’s nuclear capabilities over the next tens years.  The U.S. already has enough fire power to eradicate every human on the face of the earth.  Given the current state of our economy this is an insane use of the nation’s scarce revenues.

JP Morgan Chase–US’s Sleaziest Bank (and CEO)

It's YOUR Fault

Last week brought still another fine for JP Morgan Chase for duping investors prior to the financial meltdown of 2007-08.  In the past four months, the company has coughed up over $6 billion in fines for lying to and cheating investors and partners.  This is the same company that received $25 billion in taxpayer-supplied bailout dollars and then refused to use the funds to make loans.  But the mega bank did manage to eek out over $11 billion in profits and pay out $9 billion in bonuses.  This at the same time they are paying 0.01% on individual savings accounts and charging $240/year for a checking account.

By the way, those big fines are tax deductible! This kind of chicanery won’t stop until unethical, greedy CEOs like Jamie Dimon lose their own personal fortunes and spend a few years in a federal prison.

Exxon Misled Montanans about Oil Spill

Surprise, surprise?  These guys should be booted out of the U.S.

The GOP Unemployment Strategy

Well, the Republicans are getting the smaller government they been wanting with the accompanying growth in the ranks of the unemployed.  Local governments have lost almost 500,000 jobs since September 2008.  The federal government cut 14,000 jobs in June alone.

Amazingly, Rep. John Boehner issued statements this morning asking “where are the jobs?”  But in spite of their big wins in the 2010 elections, the GOP has failed to put forth a single jobs program.

So the Republicans are perfectly executing their strategy.  Make government smaller, continue huge give-aways to corporate contributors, blame Obama for continued unemployment, win back the White House in 2012.  But who will they blame for unemployment then?

The GOP conveniently ignores that during the Bush years the private sector shed 673,000 jobs while the federal government grew by 50,000.  The abysmal Republican record on job creation is well documented.  As early as 2004 the first Bush term was recognized as the worst period of job creation in sixty years.  Why does anyone think these guys have any idea about how to generate job growth.  The GOP doesn’t care about working class people and thus has no idea about how to grow jobs.

Exxon Oil Spill…. Again!

Is Exxon just totally incompetent or is there some kind of perverse corporate strategy to spill oil into fragile ecosystems at regular intervals?  Just fourteen months after the beginning of BP’s Deepwater Horizon disaster in the Gulf of Mexico Exxon has now had a mishap sending thousands of barrels of oil into the Yellowstone River.  These companies have to be put on some kind of probation and fined billions every time one of these incidents occurs on U.S. soil.  Maybe at some point,Exxon should be banned from operating at all in the United States.

Michele Bachmann: Another Republican Prevaricator

In addition to her many misrepresentations of American history, Michele Bachmann claims that the she and her husband never received a penny in federal subsidies from the family farm in which they are part owners.  This in spite of the fact that Department of Agriculture records show that Mr. Bachmann was paid some $260,000 in corn and dairy subsidies between 1995 and 2007.  Thus Ms. Bachmann continues the Republican tact of just ignoring the facts.

And no surprise, I guess, that the Republicons voted to continue federal funding for farm subsidies.