As the reality of the recession sinks in, consumer confidence has reached frightening lows. People all across the income spectrum here in North Carolina are hunkering down – and worse. With job losses reaching record levels, the global economy has become a literal death spiral. People in my neighborhood are foregoing medical treatment to pay for food and shelter. People in other countries are simply starving.
As President Obama said last night, this precipitous decline has come on the heels of the greatest transfer of wealth – from the middle class to the super rich – in modern history. It is time for the wealthy to do their part. And not just by paying higher taxes.
I am not a fan of the Huffington Post. I rarely can find my way around and I'm not that concerned with what celebrities think - even if they are very bright. Today her headline caught my eye. It is one of those that reaches out and grabs you.
The Economic Stimulus Plan does not concern me, Democrats concern me. I have come to the conclusion that Democrats are so eagerly and meekly courting conservative consent for the Stimulus not because they want true bipartisan support or because they value their ideals, but because they honestly do not think it can work. They want someone with which to share the blame, because they have absolutely no way of knowing if any of this capital injection, infrastructure spending and, yes, tax cuts will do anything but put us in a bigger fiscal debt and without thousands of new jobs for working families.
Erik Sorenson fears a class war that the rich won’t win. Even though he does frown on a $37,000 toilet, he’s frightened that $100,000 in salary just isn’t enough. I wonder what the janitors at MSNBC made when he led the company.
Two major N.C. incentives programs sent large portions of funding for increased corporate expansion and job creation to areas of the state that basically needed it the least, according to a study by the Durham office of the Corporation for Enterprise Development, a Washington, D.C.-based advocate for federal and state economic policies.
Submitted by Fecund Stench on Tue, 12/16/2008 - 7:04pm
I'm safely returned from a whirlwind trip to Asheboro and Stenchville. In the former I learned that the Goodyear plant bid their employees adieu until next year. In the latter I spoke with a father of two little ones who has been on half-time since June and was laid off today until the new year. He's getting by cleaning cars and doing odd jobs.
Being on the clock with no children to feed, I had no complaint.
David Walker is not a politician. He was hired by Bill Clinton during his presidency to head the GAO. His official title was: Comptroller General of the United States and head of the GAO. He was not an elected official and was hired for 15 years regardless of which president or political party was in office.
Walker has been preaching of impending fiscal doom for some time now, unless there is immediate action. It is his premise that there is not enough money to pay future retirees their full Social Security and Medicare benifits and in fact, unless something is done immediately, our country may not survive.
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