Some times being Right doesn’t always make you Feel Good
Posted: October 3, 2009 Filed under: Global Financial Crisis, Team Obama, The Bonus Class, The Great Recession, The Media SUCKS, U.S. Economy, Voter Ignorance | Tags: balanced budget amendment, DeLong, Krugman, Obamanomics, Reaganomics, Stiglitz, stimulus plan, unemployment Comments Off on Some times being Right doesn’t always make you Feel Good
You may remember back in January that I was not happy and very outspoken about the size of the Obama Stimulus plan. I was not impressed by the content or with the mix between tax cuts and direct government spending. You may recall that the Blue Dogs interminable resistance to do anything that might wake their sleeping Republican voters and the desire on the part of POTUS to appease the unappeasable remnants of the Republican party led to a very watered down plan. At the time, all that I could hope was that it might be enough to get the ball rolling. However, I felt that the historical multiplier –especially for taxes– was not going to kick in the way it had in the past.
The release of the miserable unemployment data yesterday (not all that unexpected as you’ll recall) as well as an estimate of our output gap now clearly squares with my earlier view as well as the earlier views of Brad deLong, Paul Krugman, Mark Thoma and Joseph Stiglitz among others. The stimulus was clearly not the blue pill the economy needed. (That last link is from me saying this same thing in July.)
The Washington Monthly says the decision to appease centrists and Republicans looks even worse in retrospect. Now, the media gets it. Color me completely unsurprised because I told you so back then that it wasn’t going to be enough. I even mentioned it recently when it appeared the stimulus plans of German, France, and Japan had already lifted those economies from the worst of it last spring. These countries emphasized direct government spending. We mostly shuffled a few funds as stop gaps and the created a bunch of tax cuts that no one really needs right now.
In February, when the debate over the economic stimulus package was at its height, a handful of “centrist” Senate Republicans said they’d block a vote on recovery efforts unless the majority agreed to slash over $100 billion from the bill.
The group, which didn’t have any specific policy goals in mind and simply liked the idea of a small bill, specifically targeted $40 billion in proposed aid to states. Helping rescue states, Sen. Collins & Co. said, does not stimulate the economy, and as such doesn’t belong in the legislation. Democratic leaders reluctantly went along — they weren’t given a choice since Republicans refused to give the bill an up-or-down vote — and the $40 billion in state aid was eliminated.
At the time, it seemed like a very bad idea. That’s because it was a very bad idea.
In the past, government hiring had managed to somewhat offset losses in the private sector, but government jobs declined by 53,000, with the biggest number of cuts on the local and state levels. Even the Postal Service, which is included in the public-sector job statistics, dropped 5,300 jobs.
“The major surprise came from the public sector, where every level of government cut back,” Naroff said. “The budget crises at the state and local levels have caused an awful lot of belt-tightening.”
Bloggers Under the Bus and Over the Rainbow
Posted: September 27, 2009 Filed under: Action Memo, The Media SUCKS, Voter Ignorance | Tags: Blogosphere, The Confluence 3 Comments
Bitter knitter Sino Peruvian lesbian blogger in between hot flashes
I was going to do a nice staid article about the Fed and regulation but frankly it’s a nice sunny, tropical Sunday down here and it just doesn’t seem kind to overwhelm my brain or yours with Barky Frankisms and tales from the crypt of A(ll)yn Greenspan. I scoured my usual sites for inspiration over coffee and landed on Memeorandum. The source didn’t thrill me but the headline was superb.
There it was on The Other McCain screaming ‘You’d be surprised what some of those Morons write on the Internet.’ Then there was The Public Editor over at the NY Times discussing how the Gray Lady handled the Acorn case versus Fox News. What grabbed me on The Other McCain was this bit which sent me off to Andrew Sullivan’s blog. You know, there is certainly a lotta crap out there under the catchall term of political blog.
Just think about Andrew Sullivan sitting there in Pathum, Thailand — I’m not kidding — lecturing Michelle Malkin (!) on conservatism:
By the way, there is nothing conservative about Southern populism.
We talked–after the election–about the direction the Blogosphere might take during 2009. I think we can already see the role of Twitter and the role of live blogging things like the Honduran Revolution or the Iranian protests over the Election. As an ‘institution’, if you will, we forced CNN out of its weekend complacency cocoon to cover real news stories instead of running pablum over and over with a few Youtubes and talking heads thrown in. That is probably the thing that will turn into case studies in Journalism schools around the country. My take is that this is a good thing.
There is also the increased patronage on wonky finance and econ blogs because more than the nation’s PhD students in Financial economics now have an interest in Financial Derivatives and the Federal Reserve Bank. There has been an increasing link between the worlds ‘scholars’ and the blogosphere. As I’ve mentioned before, I’ve been watching the the dissection of the financial crisis and macroeconomics play out in a public forum outside of the peer review process and I find it fascinating. I knew I always had trouble with Lucas, Fama, Cochrane et al when I was studying the efficient markets hypothesis and forced into recreating the results of various ‘seminal’ works but was basically hushed into silence by awed lecturers on the Gods of Finance. It’s been nothing but entertaining for me to see the wonkier macroeconomists point out basic errors in their arguments such as mixing up endogenous and exogenous variables. This is so basic that it would probably cause you to flunk a qualifying exam. I can only imagine that similar things are going on in the wonkier science blogs on issues ranging from climate change to RNA transcription. Again, my take is this is a good thing. It turns every one’s lap top into a lecture hall and specialist meeting. I’m all for this.
However, I front page at The Confluence which specializes in examining everything from the vantage point of politics. This is where I’ve noticed some distinct morphing over the year since the election. The political blogosphere seems to have split into three distinct camps now. Those that just exist to promote whatever firebrand idea of so-called conservatism they burnish who pick up and run on any tidbit that seems to support the ideology; factual or fishy. Those that support the current administration and apologize and rationalize every misstep and pick and run with any tidbit that seems to support their view of the world; factual or fishy. Then there’s a third group that either follow a group of issues or are just trying to figure out how best to get the issues brought into the discussion and action realm on top of all the ideological or partisan screaming. I think I can say as a member of the front page editing team that we really really try to fall into the latter group.
Our Dysfunctional Government
Posted: September 25, 2009 Filed under: Surreality, The Media SUCKS, U.S. Economy, Voter Ignorance | Tags: Corruption as an American Artform 1 Comment
It was the levees stupid!
I used to tell my students down here in New Orleans how smoothly things ran in Minneapolis compared to here until that Interstate Bridge fell into the river. Then I realized we were just the canary in the coal mine.
Still, it’s really hard to describe the degree of dysfunction surrounding all levels of government down here in Louisiana to any one that’s never actually lived here. It easily takes 15 – 20 minutes to get some one to respond to your 911 call. The New Orleans Parish Prison just got cited by the Justice Department has having such basic problems that they routinely violate prisoner’s civil rights. The roads are beyond terrible. What’s worse is the parade of people with government contracts and positions–many connected with ex Congressman Jefferson–who routinely skim money from nonprofits meant to help the city’s tremendous number of poor. Some of the worst scandals have involved the New Orleans Public School District where vendors, school board members, and a long time former school superintendent embezzled millions of dollars meant to educate our most vulnerable citizens. Thankfully, we have a justice department that is intent on cleaning out this hornet’s nest (with apologies to our basketball team). People down here have just gotten used to the situation so much that it makes you want to cry.
So, like I said, since I’d lived in Minneapolis which is a high tax but fairly functional part of the country, imagine my surprise when a portion of the of the interstate just dropped into the river. I thought they had only underfunded and underbuilt the levees down here. It turned out the problem is much bigger than that.
If you haven’t seen this month’s issue of Scientific American, then head to their website and read this piece called “The Failing U.S. Government–The Crisis of Public Management”. It’s a fairly short article but enough of a jaw dropper to make me ask repeatedly: what is wrong with this country? We used to take pride in our nation’s infrastructure. Projects like The Hoover Dam, the Golden Gate Bridge, and the nation’s interstate system were as much sources of pride as our nation’s romp on the Moon. They were symbols of American can-doism. I remember that as a kid, the parents would throw us into a brand new Ford LTD stationwagon that dad would order into the dealership that year especially for that purpose each year. We’d go search down a few national gems each summer until we had a new check marks on a list of every major American accomplishment and National Park. It was something to wave your little flag about then. What has happened to the shining beacon of progress we chased in the 1960s?
Perspective
Posted: September 22, 2009 Filed under: Populism, Surreality, The Media SUCKS, Voter Ignorance | Tags: ACORN, Alan Grayson, ArmorGroup, Blackwater, Defund ACORN Act, GE, hurricane katrina, KBR, POGO, The Project on Government Oversight 3 Comments
One of the first things to go when people get morally outraged is their perspective. Not only do they frequently lose perspective, they also lose sight of bigger issues. A sense of outrage simply overwhelms one’s sense of perspective. The enraged heart overtakes the circumspect mind.
I’ve talked about The Project on Government Oversight (POGO) before when I brought up a defense contract maintained by the Federal Government with a company called ArmorGroup. This is the group that basically used Lord of the Flies-like hazing parties for their private security forces guarding embassies in places like Afghanistan. Whistle blowers, POGO, and government audits turned up a lot of fraud and abuse. There were even congressional hearings and questions, however, the contract was continued. Some press coverage reopened the issue earlier this year but the company basically was paid lots of federal dollars before any one took some real notice of it. Other mercenary-like groups–hired by our Defense Department–have had similar issues. Blackwater, while operating in Iraq, was said to be responsible for the deaths of innocent civilians and has been barred from doing business in the country by the Iraqi government. These are just some of the more egregious examples.
Then, there are the defense contractors building bombs and buildings. Remember the solider in Iraq was killed due to faulty wiring by KBR?
American electricians who worked for KBR, the Houston-based defense contractor that is responsible for maintaining American bases in Iraq and Afghanistan, said they repeatedly warned company managers and military officials about unsafe electrical work, which was often performed by poorly trained Iraqis and Afghans paid just a few dollars a day.
One electrician warned his KBR bosses in his 2005 letter of resignation that unsafe electrical work was “a disaster waiting to happen.” Another said he witnessed an American soldier in Afghanistan receiving a potentially lethal shock. A third provided e-mail messages and other documents showing that he had complained to KBR and the government that logs were created to make it appear that nonexistent electrical safety systems were properly functioning.
KBR itself told the Pentagon in early 2007 about unsafe electrical wiring at a base near the Baghdad airport, but no repairs were made. Less than a year later, a soldier was electrocuted in a shower there.
The process of seeking out contractor abuse is nothing new to this government or any other in this country. You may remember that during FDR’s campaign for the presidency, wife Eleanor rode around in car with a steaming teapot on the roof to remind folks of the Teapot Dome Scandal. Folks taking advantage of federal money go from the small fry to the country’s largest multinationals. Lincoln warned of it. So, did Eisenhower.
I remember during the Hurricane Katrina diaspora, many folks were said to use debit cards given to them as largess of the taxpayer on strippers, alcohol and guns. I can say that the money the U.S. government gave to me went to things like driving to Omaha, food, and pajamas. But people are stupid and then stupid things happen. But who do you focus upon? The one idiot the spent the money in the strip joint or the company of a friend of Jeb Bush that sold faulty pumps to the Corps of Engineers? You know the ones that would be necessary to get water out of the city should anything like Hurricane Katrina happen again? You remember Hurricane Katrina? People died? Incredibly costly damage? That sort of thing? I think there was more outrage over the few thousands of dollars they went to Houston strip joints than to any of the fraud that went on with the levee building, installation of the new pumps, and who knows what else will eventually be uncovered by the time these projects are audited by the GAO?
On Overlooked Battles and Unsung Heroes
Posted: September 20, 2009 Filed under: Human Rights, president teleprompter jesus, The Media SUCKS, Voter Ignorance | Tags: FBI, FISA, Telecom immunity, the patriot act, warrantless wiretapping Comments Off on On Overlooked Battles and Unsung Heroes
In the midst of so much policy disarray, it is easy to overlook many issues that deserve our attention. I’m beginning to think all the chaos may be angle of hat trick magician relying on slight of hand and misdirection. So, just as I continue to hammer at boring things like bank reform, I continue to follow things related to the Patriot Act, FISA, and other potential intrusions that are in conflict with constitutional rights.
Today, the NY Times predicted “A Looming Battle Over the Patriot Act”. Remember, the most sensitive portions and controversial are those that involve surveillance. House and Senate committees are discussing re-authorization of three key sections that are set to expire at the end of this year. In a continuation of the Bush-Cheney encroachment on civil liberties, the Obama-Biden administration seeks re-authorization.
The provisions expanded the power of the F.B.I. to seize records and to eavesdrop on phone calls in the course of a counterterrorism investigation.
Laying down a marker ahead of those hearings, a group of senators who support greater privacy protections filed a bill on Thursday that would impose new safeguards on the Patriot Act while tightening restrictions on other surveillance policies. The measure is co-sponsored by nine Democrats and an independent.
Days before, the Obama administration called on Congress to reauthorize the three expiring Patriot Act provisions in a letter from Ronald Weich, assistant attorney general for legislative affairs. At the same time, he expressed a cautious open mind about imposing new surveillance restrictions as part of the legislative package.
“We are aware that members of Congress may propose modifications to provide additional protection for the privacy of law abiding Americans,” Mr. Weich wrote, adding that “the administration is willing to consider such ideas, provided that they do not undermine the effectiveness of these important authorities.”
At the moment, there appears to be very little evidence that the FBI has abused its current power. Is that the salient point over which to argue for or against re-authorization? Sadly, we liberals have so much on our plate now with pressuring an administration and congress that should be our ally on things like truly universal health care, involvement in Iraq and Afghanistan, and continuation of Bush financial market bailouts, that we could potentially miss this important battle over one of our most basic rights. That right to go missing would be security from government invasion into our person and homes without due process.
The first such provision allows investigators to get “roving wiretap” court orders authorizing them to follow a target who switches phone numbers or phone companies, rather than having to apply for a new warrant each time.
From 2004 to 2009, the Federal Bureau of Investigation applied for such an order about 140 times, Robert S. Mueller, the F.B.I. director, said at a Senate Judiciary Committee hearing last week.
The second such provision allows the F.B.I. to get a court order to seize “any tangible things” deemed relevant to a terrorism investigation — like a business’s customer records, a diary or a computer.
From 2004 to 2009, the bureau used that authority more than 250 times, Mr. Mueller said.
The final provision set to expire is called the “lone wolf” provision. It allows the F.B.I. to get a court order to wiretap a terrorism suspect who is not connected to any foreign terrorist group or foreign government.
Mr. Mueller said this authority had never been used, but the bureau still wanted Congress to extend it.
Several other lawmakers are expected to file their own bills addressing the Patriot Act and related surveillance issues in the next several weeks.
Many of the proposals under discussion involve small wording shifts whose impact can be difficult to understand, in part because the statutes are extremely technical and some govern technology that is classified.
But in general, civil libertarians and some Democrats have called for changes that would require stronger evidence of meaningful links between a terrorism suspect and the person whom investigators are targeting.
In the same way, some are proposing to use any Patriot Act extension bill to tighten when the F.B.I. may use “national security letters” — administrative subpoenas that allow counterterrorism agents to seize business records without obtaining permission from a judge. Agents use the device tens of thousands of times each year.
I know you have a lot of issues and life challenges on your plate right now, but I think it might be worth your time to follow this issue as it makes its way through committee to the President’s desk. Our technological capability to intrude far surpasses our ability to ferret out potential abuse. I think it best we ensure the FBI can do its job, but not at the expense of our our basic civil rights. Just a reminder of who is on what side on one facet of this act. That would be the provision granting immunity from prosecution from telecoms.
As a senator, Mr. Obama voted for that bill, infuriating civil libertarians.
The bill filed Sept. 17 — which is championed in particular by two Democratic senators, Russ Feingold of Wisconsin and Richard J. Durbin of Illinois — would repeal the immunity provision.
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