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Shhh, don’t tell the GOP

One of the great lines that the GOP has been feeding us over the last three years is that we have too much debt. According to the GOP, we need to do everything that we can, including killing Social Security and Medicare, to decrease our debt. If we, as the GOP claims, really had too much debt, then no one would want to buy our debt, right? Had we too much, investors would be increasing their risk if they were to buy our debt and should, therefore, want to stay away from US debt. Right? Then why are investors buying up US debt at record numbers? Maybe, just maybe, the GOP is 100% on this.

From Bloomberg:

The U.S. government received record demand for its bonds in 2011, pushing longer-maturity Treasuries to their best performance since 1995 in a sign that President Barack Obama may have little difficulty financing a fourth consecutive year of $1 trillion budget deficits.

The Treasury Department attracted $3.04 for each dollar of the $2.135 trillion in notes and bonds sold, the most since the government began releasing the data in 1992 during the George H. W. Bush administration. The U.S. drew an all-time high bid-to- cover ratio of 9.07 for $30 billion of four-week bills it auctioned on Dec. 20 even though they pay zero percent interest.

While Standard & Poor’s stripped the U.S. of its AAA credit rating on Aug. 5, Treasuries due in 10 years or more returned 25.6 percent this year. The spreading sovereign debt crisis in Europe and slower global growth are driving investors to the safety of U.S. assets, helping to contain borrowing costs and making it cheaper as a percentage of gross domestic product to finance deficits than when the nation last had budget surpluses.

“If the last two weeks are any indication of how next year will start, there’s near-insatiable demand,” Ira Jersey, an interest-rate strategist at Credit Suisse Group AG in New York, one of 21 primary dealers that are required to bid at the auctions, said in a Dec. 21 telephone interview. “We have a significantly shrinking supply of risk-free assets in the world and U.S. Treasuries are one of the few left.”

By |2011-12-27T09:24:04-04:00December 27th, 2011|Economy|Comments Off on Shhh, don’t tell the GOP

Dems thumbed their nose at public opinion?

I loved this comment –

Corporations that are members of the Chamber of Commerce have had foreign partnerships for years.

Why , after all these years, are Democrats suddenly making these unsubstantiated accusations about campaign contributions of foreign money?

Because Democrats are desperate, that’s why. They’ve thumbed their nose at the American public and they know their jobs are on the line.

There is a lot to love in this comment. Unsubstantiated. Maybe I don’t know the definition of unsubstantiated. Maybe that’s the problem. According to Merriam-Webster – Etymology: 1un- + substantiated, past participle of substantiate: not substantiated; especially : not supported or borne out by fact. Nope, that’s exactly what I thought the word meant. So maybe an exact quote from their website is unsubstantiated.

From TP:

Below is a chart detailing the annual dues foreign corporations have indicated that they give directly to the Chamber (using information that is publicly available from the Business Council applications and the Chamber’s own websites):

Company Location Money/Level
4G Identity Solutions Hyderabad, India $7,500
A2Z Maintenance & Eng. Gurgaon, India $7,500
Amarchand Mangaldas Mumbai, India $15,000
Apollo Hospitals Chennai, India $7,500
Arshiya International Mumbai, India $15,000
Astonfield Management Mumbai, India $7,500
AXA Group Paris, France $7,500
Avantha Group India $7,500
Avasarala Technologies Bangalore, India $7,500
AZB & Partners Mumbai, India $15,000
Azure Power New Delhi, India $7,500
Bharat Forge Pune, India $15,000
Blake, Cassels & Graydon LLP Toronto, Canada $7,500
Brookfield Asset Management Toronto, Canada $7,500
Cameco Corporation Saskatoon, Canada $7,500
Credit Suisse Zürich, Switzerland $15,000
Devas Multimedia Bangalore, India $15,000
DSK Legal Bombay, India $7,500
Dua Associates Hyderabad, India $15,000
Educomp Solutions Ltd Delhi, India $7,500
Essar Group Mumbai, India $7,500
Fox Mandal Little India $7,500
GMR Bangalore, India $15,000
Hindalco Group, The Mumbai, India $15,000
Hinduja Group, The London, UK $15,000
Hindustan Construction Company Mumbai, India $15,000
HSBC London, UK $15,000
ICICI Bank Mumbia, India $7,500
Infosys Bangalore, India $15,000
Infotech Enterprises Hyderabad, India $7,500
International SOS Assistance Singapore $7,500
Ireo Management Gurgoan, India $15,000
ITC Group Kolkata, India $15,000
J. Sagar Associates Mumbai, India $15,000
J.B.Boda Insurance Mumbai, India $7,500
J.M. Baxi & Co. Mumbai, India $15,000
Jagran Prakashan Kanpur, India $7,500
Jindal Power New Delhi, India $15,000
Jubilant Organosys Noida, India $7,500
Kimaya Energy New Delhi, India $15,000
Kotak Mahindra Mumbai, India $7,500
KPIT Cummins Pune, India $7,500
KPMG Amstelveen, Netherlands $15,000
Lahmeyer International Frankfurt, Germany $7,500
Larsen & Toubro Mumbai, India $15,000
Leela Hotels Bengaluru, India $7,500
Linklaters LLP London, UK $7,500
Luthra & Luthra New Delhi, India $15,000
Macquarie Capital Sydney, Australia $15,000
Majmudar & Company Mumbai, India $7,500
NIIT Technologies Delhi, India $15,000
Nishith Desai Associates Mumbai, India $15,000
Novartis Basel, Switzerland $15,000
Oberoi Group Dehli,India $7,500
Patni Americas Mumbai, India $15,000
Punj Lloyd Gurgaon, India $15,000
QuEST Global Singapore $7,500
Ranbaxy, Inc. Gurgaon, India $7,500
Reliance Industries Mumbai, India $15,000
Reliance Communications Navi Mumbai, India $7,500
Rolta Mumbai, India $7,500
Sanofi-Aventis Paris, France $7,500
SKP Crossborder Consulting Mumbai, India $7,500
SNC Lavalin Montreal, Canada $7,500
State Bank of India Mumbai, India $15,000
Sun Life Financial Toronto, Canada $7,500
Tata Group Mumbai, India $15,000
Tatva Legal India $15,000
Urenco Investments Slough, UK $7,500
Trilegal India $7,500
Walchandnagar Industries Mumbai, India $7,500
Welspun Mumbai, India $7,500
Wipro Bangalore, India $15,000
TAIB Bank* Dubai $20,000
Aluminum Bahrain B.S.C Kingdom of Bahrain $10,000
Bahrain Financial Harbour Holding Company Kingdom of Bahrain $10,000
Gulf Air Kingdom of Bahrain $10,000
Midal Cables Kingdom of Bahrain $10,000
The Nass Group Kingdom of Bahrain $10,000
Bahrain Maritime & Mercantile International Kingdom of Bahrain $5,000
The Bahrain Petroleum Company Kingdom of Bahrain $5,000
First Leasing Bank Kingdom of Bahrain $5,000
Gulf Petrochemical Industries Company Kingdom of Bahrain $5,000
TOTAL $885,000

So, unless the United States Chamber of Commerce is intentionally lying on their website, this appears to be substantiated. Maybe, just maybe, Americans are worried about the amount of money that is flooding into this election. This is more money than is flooded into any previous midterm election. This is crazy kind of money. The fact that over $140 million has been spent in the California gubernatorial election alone, by one candidate, is insane. I have talked about the crazy amounts of money being spent this election season before.

Are Dems worried about their jobs, of course, they are and they should be. That doesn’t mean that Citizens United which is at the core of these corporate donations doesn’t need to be discussed.

I found a very interesting graph off of the Gallup website looking at healthcare.

So, this graph really makes it clear that Americans over a ten-year period wanted the federal government to make sure that all Americans had health-care coverage. Only after lies and repeated distortions by Republicans did we see the graph change. So, is it correct to say that Democrats thumb their nose at the will of the American people? This graph is really pretty remarkable. By more than a two to one margin, before the media blitz by pharmaceutical companies, Americans wanted the government to make sure that all Americans have health care coverage. I think it is clear that deceptive advertising can help but, as we look towards the future, I think we’ll find that Americans still want exactly what they wanted before, health-care coverage for all. Back to the question, did the Democrats thumb their nose at the will of the American people? It really doesn’t look like it. If they started healthcare legislation in 2008 the people wanted government intervention. Should the Dems have thrown up their hands once the polls changed? If they did conservatives would have stated that they didn’t know what they were doing? The Dems are wishy-washy. The Democrats are flip-flopping. You can hear the litany of derogatory comments that the conservatives would be hurling at the Democrats. The Democrats did exactly what they should’ve done. Complete the legislation. Unfortunately, they needed to do a better job at selling the legislation.

By |2010-10-28T17:06:11-04:00October 28th, 2010|Business, Elections, Healthcare, Party Politics|Comments Off on Dems thumbed their nose at public opinion?
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