Easton Democrats Will Rally at Dent's Office
Group will present congressman with petitions asking him to cut a deal with their party on debt ceiling.
For the second time in two weeks, the battle over the debt ceiling will play out in front of U.S. Rep. Charlie Dent's office.
A group of Northampton County Democrats plans to rally in front of the congressman's South Whitehall office Friday afternoon at 3:30.
At the same time, an organization called Easton for Obama, which formed during the 2008 election, will present a petition to Dent, a Republican whose district includes the Lehigh Valley.
Earlier this week, about 18 protesters visited Dent's office to criticize cuts to Medicare, Medicaid and Social Security as ways to deal with the debt-ceiling crisis.
Easton for Obama says it has gotten about 120 people to contact Dent's office to ask the congressman to negotiate on the debt ceiling. The petition -- which makes the same request -- has more than 300 signatures, the group said.
Jonathan Gerard
8:37 am on Friday, July 29, 2011
Charlie Dent has put party discipline above representing his district. We are a swing district in a swing state. He needs to represent all his constituents. Call him and urge him to sit down with Democrats and come up with a bill that is balanced and fair--that addresses the debt ceiling issue without ruining the lives of the middle class Americans, without removing regulation from greedy Wall Streeters, and without abandoning environmental protections it took decades to put in place.
In this last regard, consider one indisputable fact: cancer is caused by pollution. If Congress removes environmental protections it will increase the death rate from cancer. Is that the solution we want to the funding of social security and medicare?
Indy1
9:32 am on Saturday, July 30, 2011
Right on, Jonathan. In today's Easton Express is an article featuring the Republican tandem of Toomey and Dent suggesting deregulating some items in a cement factory because, they claim, regulations could raise more unemployment. It would seem that these guys are on the dole of corporations which give political donations for their re-election and keep their jobs. Meanwhile, let us poor folks tolerate bad environmental consequences of their actions. Government has its role, and that's to keep recalcitrants in line. We know, "When the cat is away, the mice will play". We have seen this during the mighty collapse of the market 2-3 years ago when market deregulation was rampant.
Gerry Haines
9:08 am on Friday, July 29, 2011
I want our spending cut period. The cut, cap and balanced budget would for the first time in Obama's regime, that there would be no more spending, enough is enough, we can not afford to keep on spending money.
Jonathan Gerard
9:21 am on Friday, July 29, 2011
The spending came from the Bush tax cuts--which led to no job growth. And from two unfunded wars.
In a tanking economy you have to spend or the economy will sink. That's the lesson from the Depression. A 1% growth in the economy would do more to lower the deficit than all the cuts to social security and medicare that the Tea Party wants. And stop defending corporate interests. A corporate accountant sees a tax liability and realizes the corporation can either pay the money to the government or to its executives. Which do you think it chooses to do?
Billionaire hedge fund managers pay lower rates than their secretaries--not because it's fair but because they can influence the tax code. Instead of thoughtless cuts to satisfy an angry ideology, consider reforming the tax code to make it fair so government and business can both do their proper job.
Bruce McIlhaney
9:28 am on Friday, July 29, 2011
Republicans like Dent are dismantling half of our Government by following the tea party lead. Responsible Republicans like Evrett Dirksen and Barry Goldwater are rolling over in their graves. During Regan's admin debt cost us much more and the ceiling was raised 18 times!
Salisbury Resident
9:52 am on Friday, July 29, 2011
I love the tea party! No other organized group has been as successful in getting people interested in politics.
Have you had tea yet, or are you still drinking the Obama kool-aid?
Jon Geeting
10:10 am on Friday, July 29, 2011
Actually, what's remarkable about the tea party is how few new voters they have brought into the electorate, for all the talk of a "movement." (http://bit.ly/n8VT6D) It looks like tea partiers are just regular Republican base voters who have traded in their elephant hats for tricorne hats.
Salisbury Resident
1:32 pm on Friday, July 29, 2011
Thank you! Yes, we know the tea party is remarkable as are all Republicans. I have not traded my hat, I added another. :)
Chris Miller
9:25 am on Friday, September 2, 2011
Jon
Where did you think the conservatives were going to come from the Congressional Black Caucus. Jon, have you ever read anything about the Soviets entering Hungary. Do some research and tell all of us what happened there. You might want to pick up Hitler's Mein Kampf after all he was a truly great visionary--tongue in cheek
An interested bystander
10:34 am on Friday, July 29, 2011
I'll be curious how much MoveOn has to pay people to show up at Dent's office for this.
Gerry Haines
11:26 am on Friday, July 29, 2011
Totally agree, thank you for that comment.
how much did Move On pay for these people, always amazed me whenever there is a protest, and people get off a bus to be there, who pays for this, most citizens are too busy working to pay their taxes to have time to protest anything.
Indy1
9:36 am on Saturday, July 30, 2011
Bystander, don't forget about the Kock brothers who bankrolled the Tea Patry all ovder the country. They won, and look where it got us: Impending default crisis!
Rosemary B
7:41 pm on Saturday, July 30, 2011
The impending default crisis would have been there with or without the tea party! They did not bring the 14 trillion dollar debt with them. It was already there. They are just trying to say to both parties ENOUGH ALREADY!
Chris Miller
10:46 am on Friday, July 29, 2011
Jon Geeting
Have you ever been to a tea party meeting? I would wager that you haven't By way of full disclosure, I was a member but left though I still work with some members on issues that are near and dear to me,
sherry
10:56 am on Friday, July 29, 2011
I'm against Dent signing the Boehner (sp?) bill too but for a different reason...because it DOES NOT address our SPENDING problem well enough.
It is giving a trillion dollars right away to increase spending and then the "cuts" in spending will take 10 years (maybe). Keep in mind that the cuts only come if the house members for the next 10 years agree to abide by those cuts. History has shown that the "cuts" routinely get pushed to the side when both parties have compromised before. It is basically the same old thing and I think people have to start voting out ANYONE who deals with the American people in such a manner.
If I vote for you because you say you will be responsible to cut spending in a REAL manner and then you don't...you have just lost my vote. This definitely includes Charlie Dent...he won't be getting my vote next time. He doesn't have enough backbone to stand up against those who would spend our country to death.
FYI as a member of the tea party, I can tell you first hand that we come from all parties who just want the spending to stop. That is our focus.
Rosemary B
7:42 pm on Saturday, July 30, 2011
Well said, Sherry!
Chris Miller
11:20 am on Friday, July 29, 2011
Sherry
You are correct with regard to the Boehner. We really should be talking about baseline cuts so that we get true cuts in spending. We cannot have an immediate 1 trillion in spending.We also need to go to zero based budgeting instead of just adding on 20% on last years budget. This is a common tactic in our school districts. Build this year's budget on last year's proposed budget that was more then was actually spent and now you have a slush fund.
Chris Miller
11:30 am on Friday, July 29, 2011
Gerry
Their union or you and me as taxpayers are probably the folks who see to it that these people get the day off.
Carter Lansing
3:50 pm on Friday, July 29, 2011
I find this entire debate if far removed from reality. Political ideology is impractical. Threats and blackmail are not legislation. Puffery and hyperbole do not help solve problems. Logic, reason, and compromise do.
Jon Geeting
4:37 pm on Friday, July 29, 2011
Chris Miller - no, I have not had the pleasure of attending a tea party meeting. That is because I do not support the low tax, small government agenda that you described above. I think such a weak safety net puts the cost of failure too high for individuals and businesses, reducing social mobility and making our economy less dynamic.
It's not true that we *can't* afford these programs. Maybe you don't think the level of taxation it requires is worth it, and that's not a crazy view. My view is that we should all pay higher taxes to fund more and better public services. I'd like the US to move toward Medicare for all, spending about what other developed countries do on health care. I hope to see full federal funding of education, universal pre-K, and universal childcare in the US sometime before I die.
All this will require a higher level of taxation than we've had historically. I agree with you that everyone needs more skin in the game, and that is why I support a carbon tax or a VAT. These are regressive broad-based taxes, but the distribution of services would be progressive on net.
Carter Lansing
7:44 pm on Friday, July 29, 2011
I think it is funny that those who trumpet American Exceptionalism are terrified of allowing America to grow and adapt in this world. They want us to keep the status quo. They want the same institutions and mechanisms to continue making money for the folks in power. But, mention anything slightly progressive and you are suddenly evil. How is believing that America is capable to providing safety, security, health and happiness to EVERY citizen in the least bit unpatriotic?
Arthur
8:22 am on Saturday, July 30, 2011
You can volunteer to pay more taxes if you wish. Nothing is preventing you from writing a large check to the government, but keep your hands off the money I work hard for!!!!!
Chris Miller
8:54 am on Saturday, July 30, 2011
Jon Geeting
I presume that on April 15th of each year you pony up and additional several thousand dollars in taxes to all levels of government. Do you even realize that we have been going down this road for over a hundred years now and it gets worse with each passing year. What we need to do if we are going to be serious is to go to zero based budgeting at all levels of government. Contrary to your comment we can no longer afford those programs. I would also suggest that you begin to read some books on economics and you can start with Thomas Jefferson who was up to his eyeball in debt due to his position as a planter. He warned the nation, as did Franklin, that debt was an unbelievable burden that should be avoided. Then I would tell you to read books by Milton Freidman and a new one out there entitled The Inflation Deception. To afford these programs we would have to continue printing money that creates double digit inflation numbers. This on and already worthless money system with bills backed by nothing. But then you have an alternative Jon, you can move to Cuba where communism is still somewhat alive or better yet, that workers' paradise known as North Korea.
Salisbury Resident
5:52 pm on Friday, July 29, 2011
Now that's a true socialist agenda!
Indy1
7:11 am on Saturday, July 30, 2011
Believe it or not, we all benefit in many social programs, our entitlements, security, education, and economies. One can always refuse to accept these and be on your own. As we all say, this is a free country.
Rosemary B
8:14 pm on Saturday, July 30, 2011
I will gladly refuse to accept them the day you stop taking the money out of my paycheck for them and return the funds already taken so that I can have the financial freedom to choose to get them on my own or not and choose what I pay for them. That would truly be a free country.
Chris Miller
9:14 am on Saturday, July 30, 2011
Indy
How do we truly benefit from these programs. Are you telling me that the people of this country are unable to buy medical and life insurance on their own and they are too stupid to invest their money in a retirement program given that we spend tens of thousands of dollars per year on public education. People buy homes, cars, investment properties, all large ticke items and they do it daily. Why can't we form coop health care community groups that would include pre-existing conditions? Why can't the folks in the Lehigh Valley or Slate Belt interview health insurance companies and create health insurance options for the group? Why can't we buy insurance across state lines? As to refusing these plans keep in mind that many people were told to include Social Security, a major Ponzi plan, in their retirement investment plan. Now it and the IRA or stocks are in trouble and Social Security, a government slush fund, is on its way out. Don't you think we should be able to take cae of ourselves and do a better job of it.
Jonathan Gerard
10:54 am on Saturday, July 30, 2011
Most working people don't have extra money to save for retirement. That's what social security does. It takes our own money and invests it (or is supposed to!) for our future needs. It's an "entitlement" because we're entitled to it. It's OUR money. But, we live much longer now than we did when social security was founded so raising the age at which we begin to collect this forced retirement savings is reasonable. As for your idea to form insurance collectives--it's a good one. But remember--the great flaw of Marx was that he believed that the masses would organize against the bourgeoisie. The reality, however, is that the HIGHER up you go on the socio-economic ladder the more organized one tends to be. So the poorest among us are the least organized and the least capable of organizing--this in the face of the extraordinary organizing capacity of the insurance models who make sure they make lots of money even when their customers get sick. I like your idea of collaborating for the common good. But that's what we also call "government." Government is what we choose to do together.
Chris Miller
9:19 am on Saturday, July 30, 2011
Carter Lansing
It is really quite simple, when close to 50% of the working population no longer pays Federal Income tax, trying to be mommy and daddy for the nation causes an unsustainable debt. Lots of parents are saying no to their kids and to themselves.We are way beyond sligtly progressive.
Chris Miller
10:31 am on Saturday, July 30, 2011
Indy 1
You ,might want to mention that the EPA regs have cost the industry thousands of jobs to the point there are only"15,000 high-wage jobs" in the industry and 2009 showed a revenue of $6.5 billion. You can bet that both those numbers will go down. Meanwhile we continue to macadam our roads with an oil based product and at a higher price because of the games played by those in the macadam industry. China is also shipping cement to our shores and their priduct will be used right here in the Valley.Of course, China is not affected by the EPA regs.. Let's all go into the backyard and cut off yet another apendage
Jonathan Gerard
10:36 am on Saturday, July 30, 2011
The articles on Patch about the meeting at Rep. Dent's office Friday do not make clear the main reason for this meeting. In just 48 hours Easton Democrats, led by Anne Lauritzten, gathered 434 signatures on a petition urging Charlie Dent to work with mainstream Democrats to come up with a compromise that is fair and balanced--one that our President can sign. The group will present another 500 signatures on Monday--emphasizing a point made emphatically by Carol Halper, Dent's District Director, that constituents overwhelmingly want a compromise worked out. Democrats plan to add an additional 500 signatures to the petition on Monday.
Chris Miller
11:08 am on Saturday, July 30, 2011
Mr. Gerard
A compromise usually involves two participants. Where is Mr. Obama's bill or at least written suggstions. Your man in the White House who now owns the economy, wants more of my money so he can send it all out to his buddies to make sure they vote for him in 2012. He is again going to run a billion dollar campaign. Now tell me what is it that the 934 signers of the petition want in a bill? Cuts in spending, cuts in taxes, or more spending and raised taxes? Those of you who suck at the teats of Big Brother government need to tell us how much you truly need. Where do we go after a trillion? Will we get to a gazillion or somewhere in between or beyond. Is there no end to your infirmities and desires. Cakes and circuses for all. .
Rosemary B
7:52 pm on Saturday, July 30, 2011
The republican house has passed and sent at least 2 (could be 3 by now, I'm losing count!) bills to the Democratically controlled Senate who wont even debate them! How do you compromise with people who don't have a plan of their own and throw all of your plans away ?
Gerry Haines
11:06 am on Saturday, July 30, 2011
Chris, you are right on the money. Thanks for having some common sense, we are not to be the government's children, where is the idea now that you do things on your own. Send more money to the govenment if you think they deserve it, no one stops you, the liberals only want to spend our money, not their own. Love all the celebs who tout more taxes, but they don't pay them, rather spend 25 million on a private plane, if you want sacrifice, then send that money to the government, I don't want to pay any more. We are all free to gain anything we want, but not at the expense of others. That famous experiment was good, in college, kids were asked to share their A grades with someone who had a D, wow, no way, they worked hard for that A, apply that analogy to money.
Chris Miller
11:13 am on Saturday, July 30, 2011
Gerry
Thank you and hang in there. I believe most of the population is still with us.Those evil commentarors of conservative bent have been telling us for a long time that as more and more become enslaved by the nanny state we will be paying more and more. That must stop
Jonathan Gerard
1:43 pm on Saturday, July 30, 2011
I want affordable health care and social security. And I want a safety net for the neediest in our society. I don't want tax deductions for corporate jets. I don't want tax subsidies for wealthy agribusiness or oil companies. Why do you keep blaming Obama for Bush's deficits? I already wrote that I am happy to raise the retirement age. I'm happy to adjust social security to make sure it continues to work. Why do you never address Bush's unfunded wars? Why do you never address the Bush tax cuts that failed to increase jobs but only increased the economic polarization of our society? Look, are you opposed to government funding of roads? Of infrastructure repair? Of environmental regulations? Of energy research? All these things benefit the economy. In fact, the corporations could not function without government built infrastructure. Corporations need good schools and a clean environment to attract workers to their factories. It's a partnership. Why do you keep trashing one of the partners--the middle class worker who just wants a fair deal? She's not sucking on anyone's teats. She's a teacher or a secretary or a dentist who sees corporate CEOs making billions and benefitting from tax loopholes and tax subsidies and tax forgiveness. Stop demonizing and criticizing straw men and work with others to solve the problem. When intelligent people disagree, there's usually some truth on both sides.
Rosemary B
8:07 pm on Saturday, July 30, 2011
Who is trashing the middle class who just wants a fair deal? I am the middle class and I would just like to keep the money I have and choose how I want to spend it. I don't need the government to redistribute the wealth towards me or away from me. I also don't mind the rich staying rich! a poor person never gave me a job and my 401K benefits from the profits of the corporations, as I am sure, your does to. I can then pump that extra money back into the economy, by buying goods and services and hopefully help provide more jobs. I can also contribute to charities to help the neediest among us. And, as far as the Bush Tax Cuts go, I recall a very long period of 4.9% unemployment during the Bush years. I am also a middle class family with 3 teenagers making under $100,000 a yr and we benefit to the tune of $3000 a yr from those tax cuts! It did not just benefit the rich.
Chris Miller
11:39 am on Saturday, July 30, 2011
Mr. Gerard
Do you know why the average working man no longer has investment money? Government taxes and union dues. My dad sent my brother and I to Moravian college back in thhe '60's. He built the house i live in today. He owned Chevrolet cars, and when my grandfather retired my dad built a motel. How did he do that. He brought home 95-97% of every dollar he earned. Inflation, a tax, and funny money were not issues. That is not the case. Alexis de Tocqueville warned us that when we found a way to collect from our government we would cease to exist as a nation.Jefferson and Franklin warned about over whelming debt and that it needed to be paid off by each administration before it left office--truly unique today. But no we are wiser then these great men that is why the nanny state must take care of us. As to the inability to organize I would disagree with you. it doesn't take a lot of effort or money to get a letter writing campaign to your representative or a phone campaign to him organized. How much time and money did you spend on this recent endeavor to the Congressman's office? And as to Marx, well we aren't there yet thank goodness. As for the poorest among us, did you see the picture of the little baby I believe from Somalia, in the Express-Times? Don't recall seeing an American child look like that. Don't get me wrong here but I truly belive that the sooner we get rid of the Nanny state the sooner we will all prosper.
Jonathan Gerard
1:45 pm on Saturday, July 30, 2011
Show you are intelligent and stop attacking Obama. He's a good man. An honest man. He is not seeking to raise taxes to fund a presidential campaign. Where did you ever get that rubbish from? Of course he wants to be reelected. And towards that end he is doing what he thinks will get him reelected--he's trying to get the American economy out of the hands of Wall St. and working again. He's trying to get both parties to work together to build consensus solutions to problems rather than dictate solutions from on high. He's a leader who believes in the sanctity of consensus and that those who want to fight and win battles rather than struggle for more lasting solutions. Look, for example at how Roe v. Wade still tears the country apart. Obama sees this and has learned that imposing a big policy change from on high is not the best way. It would have been better for the nation, through its government representatives, had forged a consensus on women's reproductive rights. And that's the approach he is taking on the big issues that confront him--such as health care, where the "final" bill represented a myriad of compromises to get a super majority vote--which it did, even though Republicans continue to lie that the bill was rammed down the nation's throat. And one major goal of that health care reform bill was to lower the cost of medical care and reduce the deficit. Yet Republicans are outraged by it. Pure politics. Keep feeding this insurance company executives. That's America.
Chris Miller
7:01 pm on Saturday, July 30, 2011
Mr. Gerard
Look at your first sentence, I want, i want, i want. Are you willing to pay and why do I have to pay for your wants. When I want something I go to the store and get it or wait until I have the money. We have way to many people who want. If you indeed want the government to take care of you I am fine with this just so long as I get the same choice women do when the can opt to have or not have an abortion. If I want to be able to take care of me and mine I should be able to make that decision.
I don't blame Obama for Bush's deficits I blame Bush for telling people to go shop after 9/11. I blame him for not stopping the spending Republicans. I blame him for not getting a declaration. I blame Obama for making fools of all of us when he sits there laughing and telling us that "shovel readiy was not as shovel ready as we thougt it would be" Did you not see that. I believe the man is evil. I believe he is living high on the hog om my dime. I believe he is a communist and I can speak ill of him and more importantly his policies due to thhe First Amendment. You can do the same with Bush if you wan to do that. I really don't care. As to the obvious I am not opposed to roads being built but look at what we did there. Eisenhower initiated the interstate highway system and we have the burden of it. Where is public transit across the nation.Are earliest trains were build by private business men.
Jonathan Gerard
7:11 pm on Saturday, July 30, 2011
You are not being serious or thoughtful. The "I wants" were my answer to your question--not my life philosophy. It's obviously a waste of time responding to you.
Chris Miller
7:44 pm on Saturday, July 30, 2011
Mr. Gerard. I am quite serious . I am the holdef of a BA in history from Moravian College 1966. I also have a Masters in Education from the Commenwealth in 1994 attending East Stroudsburg Graduate School 1966-1967 and I had the honor of being in the first Graduate Assistant program at that school I taught fo 32 years in Bethlehem taught Honors at Liberty 1986-1994. I have been a licensed realtor since 1986. I am a seriout and thoughtful man. I read history on a regular basis. I am learning more and more as I watch the decline of our government. I am sorry if you feel I have wasted my time responding to you but I am not going to sit by and let Obama and his ilk destroy my country. This man go down as the destroyer of our nation as he puts more and more on the dole. That is where this communist and his communist czars want us. I believe that you will ultimately find yourself on my side. Allow me to recomend two books, The 5000 Year Leap and The Inflation Deception a book, by way of full disclosure, that was written by a man who sells gold for a living--real money.
Chris Miller
7:17 pm on Saturday, July 30, 2011
Mr. Gerard
You and I are in different places.Obama took TARP money and when he found out that the shovel ready jobs were not ready.he gave the money to the National Education Association and to the governors who funneled it into local teachers' unions. Governers used that money to cover their budget problems. Obama is causing the banks to hold onto their money. They don't know what is going to happen via taxes and Obama care. Meanwhile the Fed is considering a Q3 where they will print more money making your money more worthless since it is backed by nothing.
I want you to do me a favor. Do some research and find out about baseline budgeting found in the government at all levels. They have been discussing this while debating the debt-limit matter. Come back and talk to me and tell me if you approve. This has been going on for a long tme. We need to stop it. And keep in mine that I am critical of government officials at all levels from president own down and I really don't care what party or who they are. I look at their policies and let them know my thoughts on the issues.
Chris Miller
8:04 pm on Saturday, July 30, 2011
Rosemary
Great response to indy1.
Chris Miller
9:53 am on Monday, August 1, 2011
You all might want to take a look at where they intend to make the first cuts on the front page of today's Express-Times. They ae social security, medicare and medicait. No cuts to the baseline thus business as usual. And keep in mind that inflation will go up so you will pay more taxes when you buy things.
Jon Geeting
10:04 am on Monday, August 1, 2011
Where's the inflation going to come from? Wages certainly aren't rising. Capacity utilization is pathetic. Seriously, where's it going to come from?
An interested bystander
11:01 am on Monday, August 1, 2011
If you're asking where inflation is 'going to come from' I can tell you haven't been grocery shopping or bought gas in the past year. It's already here and it's crippling families.
Inflation will continue to come from commodity price increases, food price increases, market reaction to trillions in new US Treasury debt issues still required even after this deal, the fact that when you start adding in costs for unfunded mandates the US Government's fiscal house is still a disaster, etc.
Jon Geeting
11:07 am on Monday, August 1, 2011
I'm talking about core inflation. Food and fuel price increases are the result of supply and demand for oil. They are decidedly not the result of an overheating economy or too-loose monetary policy, which is what we need to watch out for. Your claims about the bond market bear no resemblance to what is actually happening in the bond market. Right now the bond market is screaming for us to issue more debt, accepting negative rates for shorter-term bonds. It's now cheaper for the government to borrow than to spend cash.
Chris Miller
12:58 pm on Monday, August 1, 2011
Jon what is the difference between core inflation and inflation? Reporting on inflation is reporting on the truth. Food and gas are essentials for most Americans unless you don't eat or drive. Then you are probably on welfare. Keep in mind that inflation is hardest on the poor the very people the democrats proport to be helping. That is a joke. They also reported this past week that for the first time the boys in the market did not sell all their stocks for bonds as they are supposedly want to do on the weekend and keep in mind that our debt is the reason the fiancial guys are downgrading us.
An interested bystander
11:32 am on Monday, August 1, 2011
Need to watch out for both, but to say that headline inflation doesn't matter is just wrong. Must be nice to be rich and not have to care about food and fuel prices. The rest of us have to and are getting hammered.
The Bond market is screaming? That's just an inane statement. The smart investors aren't buying bonds at all, the downside risk is huge. When you take out the effects of QE2 and flight to safety, it's a big long term gamble to buy treasuries today.
Jon Geeting
11:36 am on Monday, August 1, 2011
I just don't understand what you would do about headline inflation that's caused by increased demand for oil? Would you have the Fed raise interest rates? Whole lotta good that would do!
Again, the story you want to tell about the bond market does not reflect what is actually happening in the bond market. Tell us, what is safer than American debt?
Chris Miller
12:48 pm on Monday, August 1, 2011
Jon Geeting
Take a look at all the items the Federal Goverenment does not count, gas and food just two items, and you will see that by taking out these heavy duty items there is no inflation. But tell me, you haven't seen food and gas prices go up along with everything elset . I know you are not blind. More importantly is the printing of money that makes the dollar weaker and more worthless.The first thing that Volker did during the Reagan administration was to cut the MS or money supply. That cut inflation. Bernenke actually hinted at a Q3 and then backed off it. That is temporary. I will tell you right now that come 2012 Obama will find inflation so he has an excuse to increase COLA's for the seniors who hopes to have in 2012. Keeo in mind that in 2010 our state legislators found a spot in PA that was a little slice of inflation that was big enough to get them their wages. As to debt, well no dept personal of government is good. Read Franklin and Jefferson on the issue. You might also look at the Constitution and additional restrictions on the government.
Jon Geeting
1:07 pm on Monday, August 1, 2011
So I guess you would have the Fed tighten interest rates because increased demand from the developing world is pushing up oil prices? Come on, that's insane. The reason you look at core inflation is because that tells you whether we're going to see the dread wage-price spiral that happened in the 70's. That is not happening now. Rising commodity prices are not feeding back into wages. And that's because we're still not using all of our capacity. Additional monetary stimulus would soak up all the cyclical unemployment before it created inflation. Ben Bernanke can and should set an NGDP target and print money until we hit it.
And no, it's not our debt levels that would lead to a downgrade, it's the political dysfunction.
Chris Miller
2:13 pm on Monday, August 1, 2011
Jon
You need to keep in mind that wages are being inflated within the ranks of the unions across the nation. Take a look at the teachers unions. Not only are their salaries up this year so are the benefits. They are being paid, as we all are, with funny money that has no backing. It was not that long ago that you could buy gold at $30 for an ounce. Now it takes over 1600 of those worthless dollars to get an ounce. You keep the interest rates down by cutting your spending. There are people all over this nation who paid off credit cards and car loans and not only maintained there credit rating they got their rates lowered because they cut back. This is coming your way. I would like to know what you are talking about concerning our capacity. if you mean people are not being hired you are correct but with 99 days of unemployment why work. if you are already on the dole what changes that. And Ben should not get an NGDP. As to why we are getting a downgrade I have not heard anyone from S&P or Moody's say that it was political dysfunction. What I heard was a report that the cuts were not deep enough and even if a deal was struck the downgrading was going to happen. We will have to make a special badge for Obama.
Jon Geeting
2:23 pm on Monday, August 1, 2011
When I say our capacity utilization rates are low, I mean that we could be producing much more with the inputs we have available -labor, capital, land and infrastructure. Too much of our capacity is idle because there isn't enough money in the system to create the demand that would put mobilize it. http://en.wikipedia.org/wiki/Capacity_utilization
Here's S&P telling Ezra Klein that it's political dysfunction that would cause the downgrade. Moodys says we need to get rid of the debt ceiling because it's become a vehicle for political gamesmanship. http://www.washingtonpost.com/blogs/ezra-klein/post/11-days-until-disaster-three-options-to-prevent-it/2011/07/11/gIQAjRWEUI_blog.html
Chris Miller
5:40 pm on Monday, August 1, 2011
What would you expect from Ezra Klein. He is a liberal and of course believes in fairy tales. There is money in the system the folks who have it are not going to lend it because they still see consumer spending in the toilet, they don't know what Congress and the President are going to do with regard to spending and tax cuts. They don't know what is going to happen when Obama care is unleashed. But right now the guys with the cash are on hold until the end of 2012 and the inaguration of a new president. I will go so far as to say that the legislation they are dealing with now may not pass then what.
Jon Geeting
2:23 pm on Monday, August 1, 2011
Also, I would love to know what you want to do about fiat currency? Should we return to the gold standard?
Chris Miller
5:42 pm on Monday, August 1, 2011
Now your getting the idea. Bring back the gold and don't tell me we can't thrive on that because we can and we will. It is just one thing that will start us down the correct path.
An interested bystander
2:44 pm on Monday, August 1, 2011
Sorry you're wrong on the downgrade issue as well. It's a combination of current debt levels, the likelihood of significant increases in debt levels both for current operations as well as unfunded mandates, as well as political dysfunction.
As to inflation, the last thing we need are huge tax increases that will hit everyone. As you're finally admitting on your blog, there is not enough money out there to just take from the rich to pay for all this, which is why you advocate a carbon tax and VAT, regressive taxes. I assume you'll continue to pay for the poor through government gifts - er, income redistribution. How in the world can an average middle class family, already getting hit hard by rising food an fuel bills, take on those burdens as well? Your plan would hardly impact the rich (they'll still be rich) but crush the middle class into oblivion.
Finally, Washington has been out of touch with reality for decades. Making statements that core inflation doesn't matter only shows how out of touch they are. At least they could fake giving a crap about the middle class.
Jon Geeting
3:05 pm on Monday, August 1, 2011
I disagree with the ratings agencies on the debt levels, and so does the bond market. As for projected increases in the deficit, it's all health care. And there's only one political party who's put forward a plan to control health care cost inflation.
I'm for the redistribution of consumption, not income. You can't redistribute income. I'm for progressive taxes, but I do care more about a progressive *distribution* of services than I do about how the money is raised. The future priorities I listed will be affordable when the ACA brings our health care spending down into line with international averages.
Again, what's supposed to be the policy response to rising oil prices? You and Chris Miller don't seem to want to get caught saying the Fed should raise interest rates, which is understandable since that would obviously choke off job growth.
An interested bystander
3:29 pm on Monday, August 1, 2011
You discuss things on such a cursory, superficial level that it's tough to argue points.
In reaching decisions on acceptable levels of returns, the markets take into account hundreds of variables. In your "analysis" you're excluding the most major impacts - QE and QE2, the flight to safety that has continued due to European markets, and China playing nice - all to assume that because rates are low there is huge appetite for more paper. What you're forgetting is that could change, and change rapidly. What happens when all this debt reprices higher? What happens when Treasury holders (like China) decide to liquidate? What happens when economic growth is choked off by the massive tax increases you propose? What happens when you finish crushing the middle class?
You are correct, there is only one party willing to act on healthcare - and it isn't your party. All the democrats did is create a model that generates trillions in additional revenue to cover the increased costs. There is no cost control in it at all.
There should be a governmental response to rising inflation. Most importantly, a significant expansion of domestic energy exploration because the simple fact is we need oil to bridge us into renewables that are cost effective. This will help by bolstering supplies, but more imoprtantly the shorter term create hundreds of thousands of well-paying jobs. For evidence look at North Dakota and PA (Marcellus Shale has resulted in 140,000 new jobs in PA).
Jon Geeting
4:25 pm on Monday, August 1, 2011
I'm a generalist political blogger, not an expert. And yet it seems pretty straightforward to me that the conditions underlying the flight to safety are going to continue for the foreseeable future because of the chaos in the rest of the world. It's also not clear why anyone would expect China to liquidate its Treasury holdings. (http://www.npr.org/2011/07/28/138754315/china-fears-u-s-debt-default-but-has-few-options)
So under the circumstances, we should take advantage of these bargain-basement borrowing costs to pay for useful projects like repairing decrepit schools and bridges.
So in the short term, we need a bigger deficit and lower taxes. In the medium term, we need a smaller deficit and higher taxes. Over the long term, we need to spend less money on health care.
On health care, the Republican Party's plan is a cruel joke. Their "plan" is to shift health care costs off the government's balance sheet onto individuals. This is cost shifting, not cost control. We need the underlying *prices* for health care services to come down, and the best way to do that is to use Medicare's monopsony powers to set prices.
On oil prices, you are dreaming. There is no option to reduce oil prices through domestic drilling. Oil is sold on a global market. Even if we drilled in all the protected areas, it would only reduce oil prices by a few pennies by 2030. Doubling down on our oil addiction is not an option. Let's see some proof on those Marcellus job numbers.
Chris Miller
5:58 pm on Monday, August 1, 2011
Jon
if you do this the right way, eliminate these spending programs and baseline budgeting, you can begin to get back on track. More importantly we start to make people responsiblle for themselves and their families. Tell me John, given the fact we cannot maintain ourselves who do you believe will replace us and pray tell what is the redistribution of consumption. The Fed is going to raise interest rates whether we default or not. You are out of touch with reality if you believe all of this is because of oil. An interested bystander was correct when he told you that you were not doing the shopping for groceries.
Chris Miller
6:05 pm on Monday, August 1, 2011
China has a real reason to ask for payment--we can't pay it so they take over the country and don't think that isn't their plan. China is the only nation that has never fallen off the history line.
So we need to borrow and spend even more then we have ever done before. This is to be used to build new schools and that will save the nation.
There is absolutely wrong with getting people to find and pay for their own health care. We spend tons and tons of money to educate people and you're telling me that they cannot find a health care policy. No they want someone else to pay for it so they can get stuff. Getting lots of stuff is one of the major reason for the problems we are in now.
Chris Miller
9:28 am on Friday, September 2, 2011
Is this the way you tell us that you don't do any research
optimist
10:50 am on Friday, September 2, 2011
Yes Chris and please be sure to ignore the fact that health care costs are rising at a rate that is out of control. Do something about that problem and more people would be able to afford it on their own.