I promise, there are numbers here, but lets have some fun first and write a screen play to set up the point. It is long, but…
I was watching C span Washington Journal this morning. Rep Marsha Blackburn was the guest. I got to listen to her explanation of how the Social Security funds flow and just had to post the clip. Copied from the transcript of the clip:
THEIRS MONEY THAT GOES TO MEDICARE AND SOCIAL SECURITY AND I THINK IT IS JUST IS SO INAPPROPRIATE THAT THE FEDERAL GOVERNMENT DOES NOT USE THAT AS A TRUST FUND BUT THEY MOVE IMMEDIATELY TO THE GENERAL FUND AND STACK UP IOU’S THAT ARE SITTING IN A CABINET IN WEST VIRGINIA.
What she says should not be allowed to stand and if C-span were half of what it used to be, she would not have had the following go uncorrected. Thus I leave it to the Angry Bears to correct her here and thus document her ignorance of the subject.
I have not watched this lady before. I could not help but think she is just a more polished version of Sarah Palin. She is totally capable of pulling off what we used to call a “snow job” when writing their essay.
I have just learned of a new book that I believe every AB reader could relate to.
by: ANAT SHENKER-OSORIO
An excerpt from the book summary:
This concise, entertaining book shows us how wrong-headed metaphors and deceptive language have muddled our economic thinking, and how better word choice alone can win the debate.Today the term “dismal science” seems almost too kind: too many of today’s economic arguments deserve the mantle of mysticism.
Mainline thinking about the U.S. economy is starting to resemble Scientology: beyond a coterie of high-profile, high-income believers, the more those of us outside the fold learn about the teachings, the wackier the whole enterprise sounds.Members who attempt to leave either orthodoxy—in one case a church and in the other a market-worship orientation—are shunned and ostracized.In a nutshell, the overriding message is twofold: it’s your fault that the Economy sucks, but there’s not much you can do to improve it. This storyline must sound achingly familiar to Christians. The blame for damnation to hell lies with you and you alone. Yet though prayer and piety are good ideas, only God determines who merits redemption. Economic salvation is out of your hands, but that’s no excuse to quit your night job or start spending on luxury items like college.
In most domains, policies must be advertised as serving our national interests, but when GDP talk rolls around, this is no longer the case. We’re here to please the economy, not the other way around.
QUESTION: The outsourcing of American jobs overseas has taken a toll on our economy. What plans do you have to put back and keep jobs here in the United States?Romney:…which will allow me as president to be able to put in place, if necessary, tariffs where I believe that they are taking unfair advantage of our manufacturers.
Last month one hundred and fourteen thousand unemployed moochers…suddenly yank the government teat out of their mouths, get off the couch for forty hours a week? Why?I say follow the money; cause I found out, that right around the time those people got those jobs…they started getting paid!And just where does that money come from? Right out of the pockets of the job creators. How’s that for your socialist redistribution of wealth? Folks, it’s called class warfare.
If President Obama is re-elected and raises taxes, Westgate Resort’s David Siegel says he will have to lay off workers and downsize his company — or even shut it down.
40% of all small business owners nationwide rate the economy and jobs as the most important factor in choosing a president. Ethics, honesty, and corruption in government is the second-most important factor for small businesses.
Digby wrote a few days ago about the“grown-up” people coming to town to save America from the deficit. She listed a few of those people and their annual income.
Update: spelling corrected in title.
I heard and then went to look see that Caterpillar is working hard to control it’s costs.
“Despite earning a record $4.9 billion profit last year and projecting even better results for 2012, the company is insisting on a six-year wage freeze and a pension freeze for most of the 780 production workers at its factory here. Caterpillar says it needs to keep its labor costs down to ensure its future competitiveness.”
It has purchased 17 other business since 2008, 9 were non US companies. Two companies were purchased in 2011. Here’s the thing, a 6 year freeze? I guess there will be no inflation? I mean like zero. Though economist are saying inflation is needed as part of the solution to our slow economy. Of course, Obama having frozen government wages, I guess Caterpillar is just being patriotic. Nothing like We the People blazing the trail for how we want the private sector to treat We the People.