Friday Mashup (9/20/13)

  • Stop the presses! It looks like the Repugs FINALLY have their “alternative” to the Affordable Care Act (here)…

    Conservatives representing nearly three-quarters of the House Republican conference unveiled their proposed replacement for President Obama’s healthcare law Wednesday, delivering on a long-delayed GOP promise.

    The bill from the Republican Study Committee would fully repeal the 2010 law and replace it with an expansion of health savings accounts, medical liability reform and the elimination of restrictions on purchasing insurance across state lines.

    Ummm – well, in response, I give you mcjoan here

    To be fair, they include all the other non-reform reforms they’ve been rehashing for years—tort reform, buying insurance across state lines, high-risk pools—all the things that don’t actually don’t do anything to address the real problem in our health care system: the increasing, systemic cost of health care. But they don’t include any provision for lower-income people to purchase affordable insurance. They don’t include any of the popular Obamacare provisions, like young adults being able to stay on their parents’ plan or an end to lifetime limits on what insurance will pay.

    So what they’ve really got is tax cuts, as usual. But at least this time they’ll be for the middle class, too. So, progress?

    Because, when it comes to tax cuts (noted by Joan), never forget the following (and here is more wingnut mythology on this subject).

  • Next, did you know that Mikey the Beloved favored reinstituting a 21st-century version of Glass-Steagall (the Depression-era legislation insuring federal bank deposits and separating commercial and investment banking) in 2011 (here)?

    Of course, since we’re now in 2013…

    More than two-and-a-half years later, Fitzpatrick, vice chairman of the Oversight Subcommittee of the House Financial Services Committee, won’t commit to putting Glass-Steagall back in place.

    The Depression-era act was part of President Franklin Roosevelt’s New Deal, which set up the Federal Deposit Insurance Corporation to insure bank deposits while Glass-Steagall put up a firewall between commercial and investment banks.

    “I support building a wall to protect taxpayers and protect banking customers, I absolutely support that,” Fitzpatrick said.

    But first he wants the administration to implement The Dodd Frank Wall Street Reform Act, which includes the Volcker Rule, proposed by former U.S. Federal Reserve Chairman Paul Volcker, to prohibit banks from risking institutional money in certain speculative investments.

    More Mikey flim-flam BS (and of course, I’m sure Mikey’s newfound ambivalence has not one thing to do with the fact that this legislation was first championed by Dem U.S. Senator Elizabeth Warren of Massachusetts)…

    As noted here and here, Mikey’s fellow Repug U.S. House brethren want to do away with both Dodd-Frank and the Volcker Rule. But of course, President Hopey Changey is supposed to ride to the rescue and save this country from Mikey and his same-party playmates in the House, right?

    And I’m sure Mikey would be cheering President Obama on every step of the way.

    Sure he would (and as a point of reference, this tells us who was right and who was wrong about repealing Glass-Steagall in 1999…it was a bipartisan failure – opposing it may have been Byron Dorgan’s finest moment).

    And in other financial news related to Congress, it looks like “Man Tan” Boehner and his caucus in the House wants to play chicken with our economy again over the debt ceiling here, even though, as noted here, he said on five different occasions that he wouldn’t do that.

    Oh, and did you know that Number 44 was responsible for this country’s decline in median income, among other downward numbers, according to something called CNS News here?

    Meanwhile, in the world of reality, it should be noted that median income in this country (for the rest of the 99 percent “rabble,” most definitely including your humble narrator) has been declining for at least the last 10 years (here – more on this is here).

  • Continuing, we have Repug U.S. Senator John Thune propagandizing as follows here

    South Dakota Republican Sen. John Thune is calling for the Senate to end the Obama administration’s controversial green vehicle loan program in the wake of news that the Department of Energy is selling off the $168 million loan it gave to financially troubled Fisker Automotive.

    “The Obama administration has gotten into the business of picking winners and losers at a significant cost to taxpayers,” said Thune in a statement. “From Fisker and Vehicle Production Group, to the Chinese-owned A123, this administration should not be making questionable investments with the American people’s hard-earned money.”

    I wonder how many people know that the Fisker loan, as well as the loan program itself, stems from the ruinous reign of Obama’s predecessor (here)? And as noted here, Obama supposedly knew that Fisker was missing milestones in 2010, though neither of the docs mentioned in the AP story cited by Media Matters (and probably released to the AP by the Repugs) confirmed that.

    This is a bit of a rehash, I’ll admit; I already pointed out here, in a response to a WaPo column by that dim bulb Charles Lane, that it’s wrong to blame the Obama Administration for the Fisker loan (and besides, when you’re talking about federal loans to startups, some will pay off and some will go bust; what matters is the percentage of the former as opposed to the latter).

    And on the subject of “questionable” money decisions, this tells us that Thune, being a good little Repug from the Karl Rove/Grover Norquist template, sought to repeal the “death tax,” even though it mostly affected 0.1 percent of the households in this country. Also, Thune argued for more defense spending here, which, given how much we outspend the rest of the world, is beyond laughable.

  • Finally, this tells us the following…

    College freshmen that haven’t decided on a major may want to consider a degree in sales and marketing, medicine, health-care research and renewable energy to increase their odds of getting hired upon graduation.

    According to newly-released data from global outplacement firm Challenger, Gray & Christmas, jobs in these fields will be in high demand come 2018. What’s more, the firm finds that students who concentrate on math, science, engineering and technology will have the largest array of job options post-graduation.

    Concentrating on math, science and technology positions will help college grads secure work because these skills cover a vast array of positions in our jobs economy, says John Challenger, president of Challenger, Gray and Christmas.

    “When you get into fields that run across every type of company, it gives you such flexibility in your career,” Challenger says. “So many jobs today require people to have so much communication, through companies’ programs and policies, so that is very important as well.”

    I have no factual information to argue with this claims, but I would say that some context is missing here.

    Let’s start with this item, telling us that employers, five years after the collapse of Lehman Brothers that ushered in this era of economic calamity, are STILL pushing to increase H-1B visas for foreign, temporary workers. That’s one prong of the pitchfork, if you will, stabbing U.S. workers (both new and experienced) in the metaphorical “gut.”

    The other is offshoring, which really hasn’t been reined in much by Number 44 (here), partly because he has supported trade deals that make the problem worse (here), including the Trans-Pacific Partnership, as noted here (an update is here).

    I know this isn’t an original observation, but it needs to be shouted from the mountaintops; we have a jobs crisis in this country!


    And with all due respect to our young men and women entering college (who, along with their parents, may benefit from reading this), whether or not you choose to major in a STEM-related curriculum or not won’t mean a damn thing until we start investing in this country once more and do everything we possibly can to resolve it.

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