Posts tagged ‘Financial Sector’

01/29/2012

Republican Debate: Florida (1-26-12)

ROMNEY’S TAXES: Gingrich said Romney owns shares of Goldman Sachs and lives in a world of Swiss and Cayman Island bank accounts. He said he did not “know of any American president who had had a Swiss bank account.” Romney, who all along has said he is a great money manager, said “my investments are not made by me.” They have “for the last 10 years have been in a blind trust, managed by a trustee.” His trustee invests in mutual funds and bonds, he said, and not in stocks. When Gingrich said Romney made a million dollars off of stock in Fannie Mae and Freddie Mac, Romney denied it. He said his trustee loaned money to Freddie and Fannie and received interest, like from U.S. savings bonds. His trustee diversified investments and reported the money held in Swiss accounts to the U.S. and he paid U.S. taxes on it. Romney repeated he did not inherit money and claimed to have earned it. He said his taxes and charitable contributions took about 40% of his income.

ROMNEY’S PARTY: Gingrich claims Romney voted for Democrat Paul Tsongas in 1992, and when he ran against Kennedy in 1994, he said he was an “independent” who did not want to go back to the Reagan-Bush era. Romney said he never voted for a Democrat when there was a Republican on the ballot.

FOREIGN POLICY: Paul rejects a foreign policy that says we must be the policeman of the world. He opposes nation-building.

PUERTO RICO: Santorum was asked whether Puerto Rico should become a state. He said he believes in “self-determinism” and Puerto Ricans should decide for themselves.

CUBA: Paul said the sanctions against Cuba backfired and caused the Cuban people to rally behind Castro. The Cold War is over, and they are not going to invade us, he said. Romney said he will help the people of Cuba enjoy freedom when Fidel Castro is dead. He thinks Obama has ignored Cuba and Venezuela, and wants more trade with Colombia and Panama. Santorum opposes liberalizing trade or travel with Cuba.

LATIN AMERICA: Paul opposes dictating to Latin Americans what governments they should have. He said Santorum’s definition of standing up for Latin America means supporting dictators and undermining governments through the use of money. Santorum thinks Iran and the jihadists want to set up training camps in Cuba, Nicaragua, and Venezuela. He opposes Latin American leaders Chavez, Noreiga, and Morales. He accused Obama of hanging our friends out to dry for 3 years in Colombia, and of standing with Chavez and Castro, instead of the people of Honduras. He denied wanting to use force in Latin America.

PALESTINE: All of the Republicans pandered to the Jewish vote in Florida. There is no peace between Israel and Palestine, Romney said, because he believes all Hamas wants to do is eliminate Israel and teach people to kill Jews. He incorrectly believes Palestinians do not want a two-state solution. He found fault with Obama for rightfully castigating Israel for illegally building settlements in Palestine in violation of international law. He showed ignorance on this subject by faulting Obama for suggesting a return to the 1967 borders. In an incredible statement, he said thought it was Obama who “disrespected” Netanyahu, when in fact it was Netanyahu who ungratefully and inappropriately lectured our U.S. President. Gingrich continued to defend his prior ignorant statement that Palestinians are an “invented people,” as he stated a belief that they are Syrian, Lebanese, Egyptian or Jordanian, but not Palestinian. He thinks Obama undermined Israel. He would provoke greater tensions by moving the U.S. Embassy from Tel-Aviv to Jerusalem.

MILITARY: Gingrich promised to make Jacksonville, Florida the home of a nuclear aircraft carrier battle group.

SPACE: Gingrich wants six or seven space launches a day. He reminded us when Kennedy said in May 1961: “We will go to the moon in this decade,” no American had even orbited the earth, and the technology didn’t even exist. He wants to give out prizes like the $25,000 Lindbergh received for flying to Paris. He asked: Does the Washington NASA office just sit around and think about space? 90% of those employed under his space plan would come from the private sector. He would get NASA out of the rocket business. Santorum wants young people involved in math and science, but said promising new space programs, when we are borrowing 40 cents on the dollar, is not responsible. Romney accused Gingrich of pandering, by telling NASA workers what they want to hear. He believes in a vibrant and strong space program, but described Gingrich’s plan to put a permanent colony on the moon, as an “enormous expense.” He would fire someone who wanted to spend a few billion dollars on it. He wants a space program related to commercial products. Paul would vote for only that part of the space program that supports national defense. The only things he would send to the moon are “some politicians.”

TRADE: Paul supports free trade in Latin America, including Cuba. Gingrich said the Jacksonville seaport has to be expanded, because the Panama Canal is being widened.

IMMIGRATION: Santorum wants to enforce the immigration laws we have. We need legal immigration he said, to keep our population growing. The first act of responsible immigrants is to obey our laws, and then continue respecting them. He would use the employer E-verify system to enforce immigration. He speculated illegals steal Social Security numbers (who says they are not paid cash under the table, and use no SS number at all). Gingrich pledged to control the border by Jan. 1, 2014. He would fix the visa system to make it easier to come and go. He wants to make deportation easier. He doubts grandmothers would self-deport and would not enter church sanctuaries to deport those who sought shelter. He said Miami has 94 languages, and wants English as the official one, adding everyone should learn it to get jobs. He denied calling Spanish a ghetto language. Romney said the problem with illegals is they take jobs legal residents would like, put their kids in school districts that can’t afford them, and get free health care, because emergency rooms must provide it. He favors work permits and identification cards, an E-verify system, and severe sanctions against employers who hire illegals, so those unable to find work will self-deport. He would not round up people or deport the 11 million illegally in this country. He said his father was born in Mexico. (Since the Constitution limits the Presidency to “natural born” citizens, how was his father able to run for President in 1967?) Romney wants English as the official language and schools to provide English immersion classes. Paul said resentment towards illegals goes up when the economy is down. Businesses are now looking for workers, but can’t find them. We worry about the Afghan and Pakistan borders too much, Paul said, and not enough about our own.

JOBS: Romney said there is 9.9% unemployment in Florida, but it is really 18%. Lowering corporate taxes would get people back to work, he said.

FINANCE: Paul said the Middle Class is losing their jobs and houses, but Wall Street got bailouts. He wants to bring back the gold standard, since it is mentioned in the Constitution.

HOUSING: Paul said, after the crash, the bad paper should have been auctioned off and sold, and it would have been cleansed by now. The problem was caused by excessive credit and interest rates that were too low for too long. The Community Reinvestment Act is affirmative action, he said, which tells banks to make risky loans. The line of credit from the Fed to Freddie and Fannie should have been cut. Romney said Fannie and Freddie are a big part of the housing crisis. They caused a housing bubble that collapsed, and are still offering mortgages to people who can’t afford them. Santorum wrote a letter in 2006 with 24 Senators warning of a meltdown as they requested reforms of Freddie and Fannie. He said we need to decrease the amount of mortgage that can be financed by Freddie. Gingrich said he told Republicans in July 2008 to deny money to Freddie and Fannie.

ENVIRONMENT: Gingrich said the Everglades Restoration Project must be completed.

HEALTH CARE: Santorum said medical savings accounts would get consumers involved in the cost of health care. He reminded voters that Romney and Gingrich supported the individual mandate, and if they are nominated, the issue will be forfeited to Obama. He claims people in Mass are now opting to be fined, because the cost of health insurance is too high. Paul said health care is a greater priority than going to the moon. Health insurance should be affordable for individuals, he said, so employed or not, they can have it. He claims the cost of medicine went up, because the government distorted that sector of the economy, and pumped money into it. He repeated his unfounded belief that before Medicare and Medicaid, nobody was on the streets without health care. Gingrich said the system that existed in the early 1960s was fundamentally less expensive. Romney said it doesn’t make sense to lose your health insurance if you lose your job. He insisted on personal responsibility in Mass to end free riders. He distinguished his plan from Obama’s, saying the President’s cuts Medicare 500 billion, and raises taxes 500 billion.

BUDGET: After Gingrich repeated his claim he balanced budgets four times in the 1990s, Paul pointed out the National Debt actually went up by a trillion dollars in those years, because money was taken from the Social Security Trust Fund. He said neither Reagan nor Gingrich had balanced budgets, as the National Debt went up. Santorum said we must get our financial house in order.

TAXES: Santorum opposes a 0% capital gains tax, saying guys like Romney wouldn’t pay much at all. He theorized when tax rates increase, the rate of return decreases, leading to investments in non-taxable instruments. He said a 28% top bracket was good enough for Reagan, and is good enough for him. His lower bracket would be 10%. Gingrich was asked why under his tax plan he would let someone like Romney pay nothing, and Gingrich said he wants everyone to pay 15%. Paul favors getting rid of the 16th Amendment, which allows income taxes, and said we also would have to get rid of the warfare and welfare systems.

RELIGION: Romney thinks our nation is based on Judeo-Christian ethics. He would seek the guidance of providence in making critical decisions. When the Founders drafted the Declaration of Independence, he said, they referred to being endowed with certain inalienable rights. Gingrich would seek guidance from God. He thinks there is an aggressive war being fought by secular elites in the news media and in the judiciary, against the Christian religion. Santorum actually believes the Constitution exists “to do one thing: protect God-given rights” and said our rights are “god-given rights and not government-given rights”

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01/27/2012

Republican Debate: Florida (1-23-12)

FOREIGN POLICY: Paul said Gingrich would have to change his foreign policy to gain his support. He believes it is not the role of the federal government to be the policeman of the world.

AFGHAN: Romney thinks the War in Afghanistan can be ended, not by talking to the Taliban, but by beating them.

CUBA: Paul opposes a military overthrow of Cuba. We propped up Castro for 40 years, Paul said, by imposing sanctions, which gave him the ability to blame everything on the U.S. He reminded everyone he was drafted in 1962 at the height of the Cold War, but it’s not 1962 anymore and the Cold War is over. We now talk to Russia, China, and Vietnam and have trade with them, so why not Cuba? Romney thinks it is dangerous to open travel with Cuba now, but if Castro died, he would work with a new Cuban leader to move them in an open direction. Gingrich favors aggressively overthrowing the Cuban regime. He accused Obama of being infatuated with the Arab Spring, but ignoring a Cuban Spring. Santorum tried to distinguish Cuba from China, by saying the Cuban island is only 90 miles away. He would continue sanctions against Cuba. He would wait until the Castro brothers died. He believes jihadists and Iranians are excited to establish a platform 90 miles off our coast in Cuba, Venezuela, or Nicaragua.

IRAN: Paul does not think Iran will close the Straits of Hormuz, because they need them open as much as we do. He said it is our blockade that would make Iran close the Straits. A blockade is the act of war, he said, and closing the Straits would be retaliation. Americans certainly do not want a hot war in Iran right now. He asked, what would we do if someone blockaded the Gulf of Mexico? Romney said we need opens seas and if Iran shut down the Straits of Hormuz, it would be an act of war. Gingrich said America has no appetite for war, but we didn’t have one when Pearl Harbor was bombed or the World Trade Center was destroyed either. He accused Obama of cancelling a military exercise with Israel, so as not to be provocative. Santorum said Obama does not see the threat Iran poses, not just to Israel, but the entire world. He argued they held hostages, attacked our ships and embassies, and made improvised explosive devices (IEDs) to harm our troops.

MILITARY: Romney believes we are shrinking our Navy. He again repeated the ridiculous assertion that it is now smaller than at any time since 1917. He wants to increase shipbuilding from 9 ships a year to 15. He wants a carrier in the Gulf. We need to be so strong, he said, so they could never defeat us.

SPACE: Romney thinks space exploration should be a priority for science and military development. Gingrich wants a series of space stations built. He wants to offer prizes for going into orbit.

ENGLISH LANGUAGE: Gingrich was asked: Why is it alright to court votes using Spanish TV ads, but not ok for government to serve people using it? Gingrich said there are 86 languages in Miami-Dade County, and 200 in Chicago. We need a central language to unify the country. Romney said Mass allowed teachers to teach in their native languages, and students ended up not speaking English very well. He pushed English language emersion. People must learn English, he said, to be successful in the U.S. Paul said for national business, we need one language, but states should be allowed to accommodate local needs.

IMMIGRATION: Gingrich favors allowing aliens to earn citizenship through military service. Romney favors self-deportation, which is what he thinks they will do if they do not have proper employment documents. Santorum said people are returning home now, because there are no jobs. He speculates they steal Social Security numbers to get work. Someone who came here illegally, he said, is continually breaking our laws. If you want to come to America, respect our laws, Santorum said.

JOBS: Romney again claimed to help create thousands of jobs at Staples, Bright Horizons, the Sports Authority, and Steel Dynamics. Gingrich was asked why the Bush tax cuts have not created jobs. He speculated things would have been worse.

OLYMPICS: Someone please tell Romney to stop mentioning his work on the Olympics, as if it was some great achievement. Who cares if he was in charge of the Olympics? It’s not important.

VULTURE CAPITALISM: Santorum said there is constructive capitalism and destructive capitalism.

FINANCE: Santorum asked Romney and Gingrich why they supported the Wall Street bailout if they believe in capitalism. Why not let destructive capitalism work, he asked? He said financial institutions should have been allowed to go bankrupt. Why prop them up through government? Romney said the derivatives market was not being regulated. Gingrich said Dodd-Frank allowed the biggest banks to get even bigger. He said regulators are walking into banks and telling them not to lend money.

FED: To placate Ron Paul, Gingrich discussed the formation of a commission to bring back the gold standard.

AGRICULTURAL SUBSIDIES: Gingrich was asked if he would do away with subsidies for the sugar industry, and get rid of import quotas that protect them. He said the industry was real good at protecting themselves. Romney would eliminate subsidies and let the markets work properly.

ENERGY: Santorum was asked if off-shore oil drilling was worth it. He believes it is essential to build the Keystone Pipeline and gain oil from domestic sources. Pipelines are safer than off-shore.

ENVIRONMENT: Paul would continue federal financing to protect the Everglades. Santorum said Romney believed in global warming enough to sign a cap on CO2 emissions in Mass.

HOUSING: Paul said interest rates were kept too low for too long. He said he introduced legislation 10 years before the bubble burst to end the line of credit to Freddie and Fannie. The Community Reinvestment Act forced banks to make even more risky loans. Our policy has been to try to keep home prices up, but they should be allowed to fall. We have to liquidate the debt, Paul said. They should have gone bankrupt, and the bad debt would have been wiped off the books. As long as we keep the debt on the books, we are not going to grow. Gingrich told Republicans in July 2008 to deny Freddie Mac any money, because they needed reform. Romney accused Gingrich of failing to speak out against what Freddie Mac was doing. Santorum was asked about the 40% of homeowners in Florida whose homes are underwater and the 53% whose homes are worth less today than before the crisis. He was asked if it was too easy to own a home. He said the Democrats fought a reform of Freddie Mac and Fannie Mae. He said we have to let capitalism work and allow banks to realize their losses. He would allow homeowners a tax deduction for their losses. Romney thinks Dodd-Frank makes it harder for banks to renegotiate mortgages and is killing the residential home market.

LOBBYING: Romney said Gingrich was paid 1.6 million by the chief lobbyist of Freddie Mac to influence Congress. He received $25,000 per month, or $300,000 a year, for services for Freddie Mac. Gingrich said he was paid for consulting, not lobbying. Romney reminded Gingrich he first said he was paid to be a historian. Gingrich said his share for three offices was $35,000. Romney said Gingrich spent 15 years on K Street influence peddling. Romney reminded viewers 84 ethics charges were filed against Gingrich and 88% of the Republicans in the House voted to reprimand him, causing him to resign in disgrace in 1998.

HEALTH CARE: Gingrich said he always favored a stronger Medicare program and favored Medicare Part D. The government would not pay for insulin, but they would cover kidney dialysis. They would not pay for Lipitor, but would cover open heart surgery. It was a terrible way to run Medicare, he said. Santorum said Romney’s health care plan in Mass was the basis for Obamacare, and Gingrich supported the individual mandate for 20 years. Romney said his health care plan, chosen by the people in Mass, is the one the Constitution allows us to have. He then said he opposes a federal mandate.

BUDGET: Gingrich thinks he balanced four federal budgets in the 1990s. He apparently forgot that they came about because Bill Clinton was President, and a democratically controlled Senate voted, without any Republican support, to make it happen.

TAXES: Romney said he paid a lot of taxes and not a penny more than required. He wants to eliminate taxes on interest, dividends and capital gains for those earning less than $200,000. He wants the highest corporate income tax lowered to 25%.  Gingrich called his 15% flat tax proposal a “Romney Tax.” He wants everyone to pay the level paid by Romney. In an inconsistent way, he said he would lower capital gains taxes to zero. Romney responded saying his tax liability would have been zero in that case. Romney refused to follow his father’s example of releasing 12 years of tax returns.

LIFE SUPPORT/DEATH: Santorum was asked if government should get involved in disputes like the 2005 case between the spouse of Terri Shaivo and her parents over removing feeding tubes. Non-lawyer Santorum admitted he asked a “federal” judge to get involved, when such situations are almost always ruled upon in state courts. Non-lawyer Gingrich also argued in favor of federal court intervention, where it clearly does not belong.  Paul correctly said the decision should be made at the state level.

01/25/2012

Obama: 2012 State of Union Speech

IRAQ: For the first time in 9 years, President Obama said, no Americans are fighting in Iraq. He welcomed home the last troops in Dec. 2011, but made the highly questionable comment they made the U.S. safer and more respected around the world.

BIN LADEN: Obama noted Osama bin Laden is dead, and no longer a threat to the U.S. He said most al Qaeda’s top lieutenants are defeated, and those who remain are scrambling.

QADDAFI: Obama reminded us that Libya’s Col. Qaddafi, a long-time dictator, who had U.S. blood on his hands, is also dead.

AFGHANISTAN: Obama said the Taliban’s momentum has been broken. We are winding down the War in Afghanistan, as 10,000 troops already came home, and 23,000 will return this summer.

IRAN: Obama said a world that was once divided on how to deal with Iran’s nuclear program is now united as one, through diplomacy. Iran now faces crippling sanctions and the pressure will not relent. We are determined to prevent Iran from getting a nuclear weapon. He said he took “no options off the table to achieve that goal.” A peaceful solution is still possible, he noted.

ISRAEL: Obama said we have an ironclad commitment to Israel’s security–the closest military cooperation in our history.

VETERANS: Obama said he increased annual VA spending every year as President.

TRADE: Obama said it is now getting more expensive to do business in China. Master Lock’s unionized plant in Milwaukee is now running at full capacity and they brought jobs home. He signed trade agreements that gave U.S. firms new customers in Panama, Colombia and South Korea. He filed twice as many trade lawsuits against China, as Bush did. He said it is unfair when subsidies are given to foreign manufacturers, and created a Trade Enforcement Unit to investigate unfair trade by China.

IMMIGRATION: Obama said we have more boots on the ground than ever before and fewer illegal crossings. We should take on illegal immigration, he said, but believes we need comprehensive immigration reform. We should not expel young illegal aliens, he said, who staff our labs, start new businesses, and defend this country. We should give them a chance to earn citizenship.

JOBS: Obama reminded us 4 million lost their jobs in 2008, in the six months before he took office, and another 4 million were laid off before his policies took effect. Businesses have created more than 3 million jobs in the last 22 months and 600,000 will come from the natural gas industry, by the end of the decade.

MANUFACTURING: Obama wants a new generation of high-tech manufacturing. Long before this recession, he said, jobs started leaving our shores. Manufacturing is now creating jobs for the first time since the late 1990s. Our blueprint for jobs includes manufacturing and we should not return to outsourcing.

AUTO: The auto industry, Obama inherited, was on the verge of bankruptcy, but he refused to let it die. Now, GM is once again the world’s number one automaker, Chrysler has grown, and Ford is investing billions in U.S. plants. The industry has now added 160,000 jobs, and we will soon be selling U.S. cars in Korea.

TRANSPORTATION: Obama noted we have crumbling roads and bridges. He noted we built the Golden Gate Bridge during the Great Depression and the Interstate highway system after WWII.

ENERGY: Obama wants us to control our own energy, so we need not depend on the world. During the past 3 years, he said, millions of new acres, including 75% of offshore oil and gas reserves, have opened for oil and gas exploration. Obama noted the development of natural gas from shale rock. Our oil production, he said, is now at its highest production level in 8 years, and we now rely less on foreign oil than at any time in the past 16 years. He said we cannot cede wind, solar, or battery industries to China or Germany. We are poised to become a leading manufacturer of high-tech batteries. Our century-long subsidization and taxpayer giveaway to oil should be ended. He instead wants clean energy tax credits. We should also help manufacturers eliminate energy waste by upgrading buildings.

FINANCE: Obama said he imposed new rules to hold Wall Street accountable, and will not return to the days when they governed themselves. He announced financial institutions are not going to be bailed out ever again. He told mortgage lenders, payday lenders, and credit card companies, the days of deceptive practices are over, and he asked Congress for greater penalties for fraud.

HOUSING: Obama reminded us the housing market collapsed in 2008, because regulators looked the other way, as mortgages were sold to people who could not afford them, by lenders who knew it. This is why we need regulations to prevent financial fraud. We should not wait for the housing market to bottom out before providing relief, but homeowners should be allowed to save on their mortgages now, through refinancing at lower rates.

HEALTH: Obama will not return to the days when health insurance companies could deny coverage or cancel policies. He reminded Republicans that his new health care law relies on the private insurance market, not a government program.

EDUCATION: Obama wants to lead the world in education. Although states have already raised standards for teaching and learning, he asked them to require students remain in high school until they graduate, or turn 18. We should reward the best teachers and should stop teaching to a test. To help 2 million Americans who need new job skills, businesses should work with community colleges to design courses. He said every family should be able to afford college, and universities have to keep their costs under control. He warned them: “If you can’t stop tuition from going up, the funding you get from taxpayers will go down.” Obama wants to stop interest rates on student loans from doubling in July. He would extend tuition tax credits, and double the number of work-study jobs. He asked Congress not to gut federally financed university labs, researching cancer and computer chips.

DEFICIT: Obama said together we cut 2 trillion from the deficit.

TAXES: Obama wants everyone to pay their fair share of taxes. The tax code must be changed so wealthy persons like Congressional members pay their fair share in taxes. 98% of all Americans make under $250,000 per year. 25% of all millionaires pay taxes at a lower rate than millions of middle class households. Warren Buffett pays a lower rate than his secretary. If a person makes more than 1 million a year, you should pay no less than 30%. Folks at the top, he said, have seen their incomes rise like never before, but for most workers, paychecks have not been growing, and their debts are piling up. He asked Congress to extend the payroll tax cut for working Americans.

CORPORATE TAXES: Every multinational corporation should pay a basic minimum tax. Companies should not get tax breaks for moving jobs overseas or be allowed a “moving expense” for outsourcing. We need to change a tax law that hits U.S. corporations with one of the highest tax rates in the world. Manufacturers in America should receive a tax cut. He noted we now provide tax credits to companies that hire veterans, and suggested tax relief for small businesses that raise wages and create good jobs. We need incentives so they relocate in communities that have been hit hard by factories that left town.

WOMEN: Although there is already a federal law that requires equal pay for equal work, Obama said “women should earn equal pay for equal work.”

CAMPAIGN FINANCE: Obama would do something about the corrosive influence of money in politics and called for an end to perpetual campaigns of mutual destruction.

APPOINTMENTS: Obama wants up or down votes on judicial and public service nominations held within 90 days.

AGENCIES: Obama ordered every federal agency to eliminate rules that make no sense.

01/19/2012

Republican Debate: S. Carolina (1-16-12)

DEFENSE SPENDING: When Ron Paul was asked if his policies would eliminate military jobs in South Carolina, he said he wants to cut spending overseas. Spending 1 billion on an embassy in Iraq, he said, is not defense, it is waste. He would follow Eisenhower’s admonition about the military-industrial complex, as he said, we don’t need 900 bases in 130 countries. Romney wants a military so strong no one would test it. He apparently believes our navy is now smaller than it was in 1917, and our air force is smaller than it was in 1947. (Does he really think this?)

FOREIGN POLICY: We should declare war before getting into one, Paul lectured. We no longer declare war. We now use the doctrine of “pre-emptive war” to start them. We don’ t even have enemies. We bomb countries and then wonder why they get upset with us. Paul was booed as he said we wouldn’t like it if other countries did to us, what we do to them. Paul was also booed when he said we should follow the Golden Rule in foreign policy.

AFGHAN: Paul wants to bring our troops home. His support is from military personnel, sick and tired of war. We are not leaving Afghanistan, even though 80% of America wants out. When Paul was in the Air Force (1962-68), he served in the Afghan-Pakistan region, and remembers the Taliban were our allies, when we opposed the Russian intervention. He warned us not to mix the Taliban, who oppose foreign intervention, with al Qaeda, who seek to kill us. Romney would not negotiate with the Taliban, because he thinks they declared war on us. He said Obama’s announcement of a withdrawal, weakened our ability to negotiate.

IRAQ: Paul said we are still in Iraq. Romney believes incorrectly we “had to” go to war “in the case of Iraq.”

IRAN: Paul said regarding Iran, they are building up for another war we don’t need.

PAKISTAN: Paul believes we have a flawed Pakistan policy.

SYRIA: Santorum said Syria is a threat to Israel. He wants to bring about the removal of Assad, but opposes U.S. intervention.

TURKEY: Perry, who lived in Turkey while in the Air Force in the 1970s, made the ridiculous and stupid argument they have been taken over by Islamic terrorists. He said their membership in NATO should be re-evaluated, and their foreign aid should go to zero. He lumped Turkey in the same category with Iran and Syria, even though these countries are vastly different.

RULE OF LAW: Paul denied he opposed the operation that killed Osama bin Laden. He in fact voted for the authority to go after him, following 911. He asked: What is so bad about capturing people? We captured Saddam Hussein, tried him, and hung him. Adolf Eichmann was also captured, given a trial, and executed. Why didn’t we try to get information from bin Laden? Gingrich said we need to just kill America’s enemies, not capture them. Romney also said the right thing for Osama bin Laden was a bullet in the head. He said we have a right to detain al Qaeda in prison, as enemy combatants, and deny them due process of law. Paul said the Patriot Act eliminated the 4th Amendment. The Defense Appropriation Act allows us to take citizens under suspicion, and hold them indefinitely, without a lawyer, or the right of habeas corpus. 260 al Qaeda have been tried and convicted Paul said, and we don’t need to give up on the judicial system. Perry said terrorists who cut off heads and hang contractors from bridges, commit despicable acts, not the Marines who urinated on corpses.

IMMIGRATION: Romney opposes favoritism or special routes to citizenship. We have to stop the flood of illegal immigration, he said. Perry would secure the borders.

JOBS: Gingrich claims he and Reagan created 16 million jobs and he and Bill Clinton added another 11 million. He wants to find ways to help the poor learn how to get a job and someday own it.

UNEMPLOYMENT: Santorum thinks it’s wrong for the federal government to uproot state unemployment programs by extending benefits. Gingrich would connect UC to job training.

LABOR: Santorum admitted voting against a right-to-work law, saying he is from a non-right-to-work state. Perry claimed the NLRB is telling South Carolina, a right to work state, what to do.

FINANCE: Perry advocates repealing the Dodd-Frank financial regulations. Romney vowed if Europe has a financial crisis, he won’t give a blank check or go over there to save their banks.

VULTURE CAPITALISM: Gingrich asked Romney to respond to questions about taking money out of companies, walking off with profits, and letting them go bankrupt. Bain invested in over 100 companies, Romney said. Four created 120,000 jobs, while others lost jobs. He said Staples, Bright Horizons, the Sports Authority and a steel company in Indiana added 120,000 jobs. He was asked about American Pad and Paper, which after being purchased for 5 million, borrowed money, took 100 million in profit, and then went bankrupt. Romney said people who lost jobs were offered new ones in other plants. Perry accused Romney of picking a company apart in Georgetown, SC and causing people to lose jobs. Romney said the SC steel mill closed down, because of dumping from abroad.

ENERGY: Romney would take advantage of our natural resources and would use oil, coal, gas, and nuclear.

HOUSING: Perry thinks the federal government via Freddie and Fannie should get out of the housing market.

SOCIAL SECURITY: Romney would make no changes for those 55 or older, but he would add a year or two to the retirement age. Gingrich said Chile has a system that yields 2 to 3 times the government payment. He would make all Americans investors.

HEALTH: Romney wants a premium support program for Medicare. He would send Medicaid back to the states. He would repeal Obamacare.

BUDGET: Romney claimed to have balanced the Mass. budget every year. Perry wants a Balanced Budget Amendment.

TAXES: Romney claimed to have reduced taxes 19 times in Mass. He said tax rates are too high. He would reduce the top rate from 35% to 25% and eliminate taxes on interest, dividends and capital gains. When asked if he would release his tax returns, he said he had not planned on it, but maybe in April, if he becomes the nominee. Perry said the highest federal income tax rate should be 7%. He would have a flat tax of 20%, but would allow home mortgage, local taxes, and charitable deductions. He would get rid of capital gains taxes. Santorum wants just a 10% and a 28% rate. He would cut corporate taxes from 35% to 17.5%. Manufacturing would be treated differently, because they are in competition with the rest of the world. Gingrich wants a flat tax rate of 15%. Paul would reduce income taxes to zero.

DISCRIMINATION IN LEGAL SYSTEM: Paul said blacks are imprisoned at a rate four times greater than whites for victimless drug-related offenses.

VOTING RIGHTS: Santorum asked Romney if X-felons who have done their time should be allowed to vote. When Romney said he didn’t think former felons should be allowed to vote, Santorum reminded him that Mass allowed even those who still on probation or parole to vote, and asked Romeny why he did not try to change that law. Perry said South Carolina is at war with the federal government over their voter ID law.

CAMPAIGN ADS: Romney hoped super-PACs would run accurate ads. He favors getting rid of campaign finance laws. He wants campaigns to run their own ads, and take responsibility for them. He said he could not talk to Super-PACs running his ads.

EDUCATION: Gingrich said No Child Left Behind is a failure, as teachers teach to the test. He would eliminate Dept. of Education

ENTITLEMENTS: Romney thinks Obama is making the U.S. an entitlement society, another European social welfare state.

POVERTY/FOOD STAMPS: Santorum believes three things are need to avoid poverty: a job, high school diploma, and marriage before having children. He claims Obama no longer promotes marriage as a way of avoiding poverty. Gingrich claims 185 different federal bureaucracies deal with low income Americans. He thinks Obama wants to maximize dependency. He called him “the best food stamp president in American history.” When he was asked if it was insulting to suggest black kids should work as school janitors, and blacks should demand jobs, not food stamps, he said no, to wild applause from a white audience of prejudiced South Carolina Republicans. He believes NY pays their janitors an absurd amount of money. The crowd booed Juan Williams as he asked Gingrich if he was belittling racial minorities about a lack of a work ethic, and by saying Obama was a food stamp president. Gingrich said more people than ever went on food stamps during the past three years of the Obama administration.

RELIGION: Perry thinks Obama is at war against organized religion. He claimed the Catholic Church cannot receive federal funds, because of their position on abortion.

GAYS: Romney said he supports equal rights regardless of sexual orientation, but he has always opposed gay marriage.

GUNS: Gingrich accused Romney of signing a ban on assault weapons and of increasing fees on gun owners by 400%.  Romney said the Mass law was supported by both sides. Santorum said his support for trigger locks and background checks was backed by the NRA. He banned lawsuits against gun manufacturers, where injuries were sustained despite proper use of a firearm. Paul said we should not have national tort law, since these issues should be dealt with by the states. Santorum said lawsuits would have gone forward in liberal states, if there was not a national ban.

ABORTION: Gingrich opposes abortion and China’s one-child policy.

01/16/2012

Republican Debate: New Hamp (1-7-12)

QUALIFICATIONS: Huntsman repeated he lived overseas four times and managed two American embassies, one in China. Santorum mentioned his eight years on the Armed Services Committee, as qualification for Commander-in-Chief.

TERROR: Santorum said Obama is trying to make the war on terror politically correct by removing the words “radical Islam” from every defense document.

DEFENSE: Santorum argued government has a role to play in defense. Romney accused Obama of wanting to shrink the military, and Perry said he is cutting 1 billion in defense spending.

MILITARY SERVICE: Paul, who was drafted and served when he was young, noted 40,000 were seriously injured in our recent wars, while 8,500 died, and those who received 3, 4 or 5 deferments and did not serve, have no right to send our kids off to war. Gingrich said during the Vietnam War, he was married and never requested a deferment. He claimed he was somehow ineligible for the draft. Paul said when he was drafted, he went despite being married with two children. Romney, who received several deferments during Vietnam, finds it extraordinary that only a few families are paying the price for freedom.

AFGHAN: Huntsman said we drove the Taliban from power in Afghanistan, ran al Qaeda out into sanctuaries, held free elections, and eliminated bin Laden. It is time to come home and stop nation-building. He thinks a civil war is around the corner. He would leave behind only Special Forces and 10,000 troops for intelligence gathering. Romney would listen to the generals on the ground, and without reason, said he would wait until 2014 to withdraw. Huntsman said we deferred to the generals in 1967 and did not get good results.

IRAN: Paul said he does not want Iran to get a nuclear weapon, but putting sanctions against Iran will only lead to the unintended consequence of pushing them into the hands of China. Romney accused Obama of not imposing crippling sanctions against Iran. Santorum wants to help the revolutionaries in Iran as he called the situation the most pressing issue of the day. Gingrich worries more about the closing of the Straits of Hormuz, since one of six barrels of oil flows through it every day.

IRAQ: Perry wants to send troops back into Iraq now. He worries Iran will enter Iraq. Romney would not now send troops to Iraq.

TRADE: Romney said China and European states opened 44 different trade relationships with various nations around the world. We have to do the same for American goods, claiming Obama not. He also said China manipulates their currency and if you artificially hold down its value, you make your products lower-priced and kill American jobs. Huntsman said its nonsense to think you can slap a tariff on China your first day in office as Romney would do. He said Romney would take us into a trade war where we would get tariffs in return that will hurt our exports. Romney said China does not want a trade war, because they sell more to us than we sell to them. He would hold China to free and fair trade rules. Gingrich said we cannot compete with China with an inferior infrastructure.

VULTURE CAPITALISM: Gingrich accused Romney of making spectacular profits by stripping American businesses of assets, selling everything to the highest bidder, and killing jobs for big financial rewards. He opposed leveraged buyouts, where money is taken out and workers are left behind. He said Bain bankrupted companies and laid off employees. Romney said companies must downsize before turning around and making a success. Bain invested in over 100 businesses, he said, and on balance claimed 100,000 jobs were added. Steel Dynamics in Indiana added thousands, Bright Horizons 15,000, Sports Authority 15,000, and Staples 90,000. Romney said sometimes they were not successful.

MANUFACTURING: Huntsman thinks we can win back investment and have a manufacturing renaissance.

FINANCE: Paul thinks we are in a 40-year financial bubble which is bursting and we must liquidate the debt. Romney opposed the Dodd-Frank bill.

CLASS WAR: Santorum said there are no classes in America; there are middle income people

JOBS: Romney hopes the economy is turning around, because there are 25 million unemployed or who stopped looking. Obama’s policies have made the recession deeper, he argues. Perry wants New Hampshire to pass a right-to-work law, and Paul said Santorum voted against right-to-work laws.

REGULATIONS: Perry thinks Americans want less regulation.

ENERGY: Romney said our policies keep us from using our own energy. Perry wants to open up federal lands and waters to more domestic energy drilling, so we are not hostage to countries hostile to us. Gingrich wants an energy plan free of Saudi Arabia, Iran and Venezuela. Santorum served on a coal company board.

TRANSPORTATION: Gingrich said we must make investments, because we cannot complete with China with an inferior infrastructure. Romney advocated improving our infrastructure by rebuilding bridges, roads, rail beds, and air transport systems.

HEALTH: Romney opposed Obamacare. Huntsman said he reformed health care in Utah, without an individual mandate. Paul said Santorum voted for the Prescription drug program.

EDUCATION: Paul said Santorum voted to double the Dept of Education.

SOCIAL SECURITY: Santorum said he voted for SS reform.

BUDGET/DEBT: Paul said Santorum is a big government person who voted to raise the debt ceiling five times. For the past 26 years, Paul voted against appropriations bills. Perry wants to get rid of what he called corrupt spending. Santorum said increases in the debt ceiling have happened for 200 years.

TAXES: Huntsman would eliminate 1 billion of loopholes in the tax code. He implemented a flat tax in Utah, and said the Wall St Journal endorsed his tax plan. Santorum would keep only the deductions for health care, housing, pensions, children, and charity.  He would cut corporate income tax in half, down to 17.5%. He claims the 35% rate is the highest in the world. Romney said we must have some taxes to pay for our military, but noted government has grown from 27% in JFK’s day to 37% now. He repeated a pledge to eliminate taxes on interest, dividends and capital gains. Perry thinks Americans want less taxation.  Gingrich would reduce capital gains to zero, corporate income tax to 12.5% and he would abolish the death tax. He would allow 100% expensing for all new equipment.

TERM LIMITS: Huntsman wants Congressional terms limits.

DISCRIMINATION IN LEGAL SYSTEM: Paul said the legal system discriminates, as it arrests and imprisons blacks for drug offenses far more than whites. They get the death penalty more often, he added.

CONTRACEPTION: Santorum believes there is no constitutional right to privacy, and states have a 10th Amendment right to ban contraception. After being directed to Griswold v Conn (1965), in which a state law banning contraception was challenged, Romney doesn’t think any state today wants to ban contraception.

ABORTION: Romney said Roe v Wade (1973) was not decided correctly because he thinks the issue should have been left to the states. He wants the ruling overturned.

PRIVACY: Paul correctly informed everyone the 4th Amendment contains privacy protections. Santorum agreed there is a right to privacy in the 4th Amendment.

GAYS: Huntsman, married 28 years with 7 children, thinks civil unions are fair. Santorum said gay marriage is not a federal issue, but marriage itself is because we need one law on the topic. We cannot have someone married in one state, and not in another. He wants a federal law that bans adoption for gay couples. Romney would amend the constitution as to gay marriage. Gingrich said gays ought to be able to designate friends in their last will or who can make hospital visits, but not through marriage, which should be reserved to one man and one woman. Perry favors a constitutional amendment defining marriage as between one man and one woman.

COLLEGE FOOTBALL: Gingrich, Santorum, Romney all got it wrong when they said in succession if they were not debating they would be watching the championship college football game. The game was actually not on until a few evenings later.

07/19/2011

Jobs: Most Work Can’t Be Outsourced

There is a limit to the loss of American jobs to foreign workers, and no matter what happens overseas, most U.S. employment will remain local, because it cannot be outsourced.

PUBLIC SECTOR: Towns, villages, cities, and counties will always provide local jobs. Mayors, aldermen, board members and administrators will remain. Judges, lawyers, policemen, and court reporters are not going anywhere. Someone will continue picking up the garbage. Although UPS, Fed Ex, and the Internet have cut into postal work, mail carriers keep on walking. Airports will always be local. Highway maintenance crews have no end to work, including winter snow removal. Building inspectors are needed. Libraries will survive, despite online research. Schools will stay open, as learning is essential. School buses will run. Universities will grow. Those fit for the military will find work.

UTILITIES: U.S. energy and utility companies will continue to employ people. The gas co., electric co., and water and sewer facilities will all remain. The telephone co. will survive.

COMMUNICATIONS: Cable TV and Internet lines will be laid. Satellite TV services and equipment will be sold. Cell phones will erect local towers. Internet services will grow. Computers will be sold here. Businesses will need printing, copy and FAX machines. Newspapers will publish. Radio is not going anywhere. Billboard will be posted, as local advertisers write ads for local businesses.

NATURAL RESOURCES: Forests will be harvested, logs will be sent to sawmills, and lumber will be cut. Metals will be removed from the ground, as coal mining continues. Sand and gravel will be dug. Oil and gas will be pumped to be sent to refineries.

AGRICULTURE: If farm subsidies continue, the U.S. will keep an agricultural sector. Dairy equipment, tractors, and farm supplies will be sold. Seed and fertilizers will be needed. Irrigation equipment will be used. Grain elevators will be built. Orchards will bear fruit. Animals will be fed, and inseminated, as veterinarians will be consulted. Livestock markets will stay open. Food processers will continue shipping products to groceries.

FINANCE: Banks and savings and loans will lend money. Real estate agents will sell land, giving appraisers, surveyors, and title companies things to do. Credit Unions will remain. Credit reporting agencies will continue their work. Financial services and investment advisors will have customers. There will always be work for bookkeepers, accountants, and auditors. Tax returns will be prepared. Businesses will bill accounts receivable, and prepare payrolls. Pension and profit sharing work will be done. Collection agents will never be outsourced. Credit counselors and debt adjusters will be needed. Wealthy people will use estate planning, stock brokers, and trust companies. Actuaries will work in the insurance industry, which will continue selling all sorts of protection against risk. Insurance adjusters will remain busy.

CONSTRUCTION: The construction of apartments, condos, storage units, buildings, and homes will never be exported. Developers and building contractors will have work. Architects and engineers will be on-site. Environmental consulting will be local. Sewer contractors will lay pipe, as road builders put down asphalt. Excavators with bulldozers will clear land. Warehouses will be needed for building materials. Well-drillers will dig wells. Scaffolds will be erected. Cement trucks will be used. Carpenters, bricklayers, and roofers will work on-site. Insulation, rain-gutters, and siding will be installed. Subcontracting for heat, electric and plumbing will always be local. Painters will be hired. Windows, doors and elevators will be installed. Someone will put up wallpaper. Carpet layers will be called. Cabinet makers will sell cabinets and counter tops. Garage doors, fences, decks and swimming pools will be installed, along with furnaces, air-conditioning units, water heaters and fireplaces. Blinds, draperies and curtains will be hung. Office cleaners will have work.

HOUSEHOLD GOODS: Furniture and beds will be sold. Antique dealers will have customers. Appliance dealers will stock refrigerators, microwaves, dishwashers, vacuum cleaners, washing machines, and dryers. Hardware stores will carry lawn mowers and tools. Electronics outlets will sell TVs and radios.

TRANSPORTATION: Air cargo will move freight. Aircraft maintenance will be essential. Freight trains, trucks, and trailers will haul goods from the coasts to the interior. Autos, motorcycles and bikes will be sold. Vehicle dealers and leasing offices will be needed, as well as towing and repair shops. Brakes, mufflers, transmissions, windshields and tires will be sold. Gas stations and car washes will remain. We will always have auto salvage yards.

TRAVEL: Private planes will be chartered. Commercial airlines will continue their daily schedules. Ground transport, buses, and cabs will be used. Passenger trains will roll. Hotels, motels, and resorts will fill up. Sightseeing tours will be sold.

FOOD & DRINK: Grocery stores will remain. Convenience and drug stores will thrive. Beverages will be bottled. Fast-food restaurants will be visited more than ever. Bakeries will bake. Butchers will cut the meat. Someone will make pizzas. Caterers will have places to go, and wedding receptions will be held in banquet halls. Liquor stores and taverns will sell beer from our breweries and wines from our vineyards.

APPAREL & BEAUTY: Beauty salons will never close down. Cosmetics supplies will be marketed. Barbers will always be needed. Bridal shops and tuxedo rentals will have work. Jewelers will sell diamonds and watches. Shopping centers will carry shoes and clothing for men and women. Tailors and dry cleaners will remain busy. Photographers will take their pictures.

HEALTH CARE: Ambulances will transport the injured. Hospitals and health care clinics will thrive. Physicians and nurses will see patients, along with therapists and rehab providers. Wheelchairs and prosthetic devices will be used. Psychologists and psychotherapists will deliver mental health. Pharmaceuticals will invent drugs, while pharmacies will dispense them. Nutritionists will be needed now more than ever. Audiologists will prescribe hearing aids, as opticians and optometrists market glasses and contacts. Dentists and orthodontists will keep on drilling, as podiatrists remain on their feet. Women will get breast implants, while birth control and abortion providers will provide counseling. Someone will test and treat for alcohol and drugs. Others will deal with gamblers. Someone will take care of Alzheimer’s patients. There will be jobs at assisted living facilities and retirement homes. Someone will sell caskets, cremation services, and cemetery plots. Embalmers and funeral directors will always have work.

ENTERTAINMENT & SPORTS: Casinos will continue winning. Cruises tickets will be sold. Gift and hobby shops will have things to sell. Theatres will survive, despite home-viewing. Massage therapists will find customers. Women will visit tanning salons. Bands and musicians will keep playing. Stereo equipment will be sold. Athletic and sporting goods will be purchased. Boats and marinas will be available for fishing and recreation. Families will drive recreational vehicles to camp grounds. Golf courses and driving ranges will remain. Fitness centers will have members. Hunters will buy their guns. People will join churches, and will seek the clergy. Kennels and pet shops will have customers.

So while manufacturing has left America, and goods are now made in Asia, the U.S. will always have jobs in the public sector, utilities, communications, natural resources, agriculture, finance, construction, household appliances and goods, transportation, travel, food and drink, apparel and beauty, health care, entertainment, and sports. The real question is not whether there will be jobs, but rather: will they pay a living wage?