Tuesday, January 4, 2011

personal finance programs


On Monday, I linked to this op-ed from Tom Esvlin, Vermont's "stimulus czar," lamenting the way the money got spent. "Although I'd like to think Vermont did better than many states, much of the money ended up continuing bloated programs rather than providing a transition to a sustainable future," he wrote. That same day, Brookings' Gary Burtless e-mailed in a rebuttal that's worth quoting at length, as it's a very clear description of where the stimulus funds actually went, and why such a small percentage was directly devoted to building things. So here it is, with some edits for space:



The main problem with that silly op-ed is that it refers to only a small slice of the actual federal spending on stimulus authorized by the Feb. 2009 legislation. So far, the overwhelming share of that stimulus has been devoted to three items: Tax cuts for households; direct benefits to people adversely affected by the severe recession, mostly the unemployed or poor; and fiscal relief to state and local governments. Vermont did not need any "Czar" to receive or administer funds under these programs. The money for them quickly left the U.S. Treasury without any effort on the part of the Czar who penned this highly misleading op-ed piece. People in Vermont *directly* received benefits from the stimulus as: (1) lower federal tax withholding from their paychecks; (2) extended unemployment benefits; (3) premium subsidies so they could maintain their health insurance after they were laid off from a job in which they received health protection; (4) miscellaneous benefits (e.g., for college costs) under one provision or another; and (5) aid from the Treasury that permitted Vermont and its localities to finance their Medicaid and K-12 education programs without hiking taxes or lowering other public spending. The kinds of infrastructure spending for which the WSJ's "Czar" had some responsibility constituted a small percentage of the stimulus the Congress authorized for 2009 and 2010.



In FY 2009 and 2010, the EXPECTED spending on infrastructure and other items for which the Vermont “Czar” may have had partial responsibility accounted for just 11% of anticipated spending under the stimulus legislation. The other 89% had nothing to do with the programs criticized by Vermont’s supposed Czar. Thus, all of his complaints – even if justified – are essentially irrelevant to the programs mainly supported by the stimulus law … at least so far. Obviously, in the years 2011-2019, that kind of stimulus spending would have accounted for a vastly larger share of outlays. But (and perhaps Vermont’s Czar has not kept up with this because he does not read a daily paper) the Congress just passed and the President just signed ANOTHER stimulus program consisting of more than 90% personal and business tax cuts and less than 10% extensions in unemployment benefits. So far as I know, very little additional spending has been authorized for those hated infrastructure / technology investment projects. Below is the CBO’s year-by-year analysis of the spending authorized under the Feb. 2009 stimulus law:





My own private view is that the country would probably have been better off if *MORE* of the original stimulus had been devoted to infrastructure / technology investment (more of it would have been spent on goods and services produced in the U.S. rather than China, East Asia, and Europe). Setting aside that consideration for a minute, what infuriates me about the piece cited in your blog is that it reinforces the very widespread but totally erroneous impression that Congress and the Administration were unaware of the administrative hurdles to fast spending that the “Czar” points out in his op-ed. Those hurdles were understood from the very beginning, which is precisely the reason that infrastructure/technology investment projects constituted such a small percentage of the total package. It is perfectly legitimate to criticize the pace of spending on these projects, but it is utterly deranged to think that the slow rate of spending on the projects constitutes a serious indictment of the spending authorized under the Feb. 2009 stimulus program. Very little of the expected spending under the stimulus program (at least so far) was supposed to be devoted to those projects.




In a powerful and well-reasoned speech, economist James Galbraith (son of John Kenneth Galbraith, by the way) has strong words for President Obama. He also offers his thoughts on "where progressives go from here" (h/t Digby). It's a strong piece, well worth your careful read (my emphasis throughout).

On Obama, he says "one could say he has betrayed [our] hopes." Please check the paragraphs that lead to that sentence; they don't contain a rant, but a list.

On the future and the Democratic Party, his analysis is excellent:

What happens next? Let's again not kid ourselves, we have lost a great many seats in the House of Representatives and the House of Representatives isn't coming back into a Democratic majority in the near future. Simply because of the balance of exposures -- the larger numbers of Democratic Senators exposed to reelection in the next cycle, the greatest likelihood is that the Senate will also go Republican in two years time. President Obama has set his course. He has surrounded himself with the advisers of his choice and as he moves to replace President Summers we hear from the press that the priority is to "repair the rift with his investors on Wall Street." What does that tell you? It tells me that he does not have President Clinton's fighting and survival instincts. I've not heard one good reason all day to believe that we are going to see from this White House the fight that we want, that he could win in two years, or any reason we should be backing him now.

The Democratic Party has become too associated with Wall Street. This is a fact. It is a structural problem. It seems to me that we as progressives need -- this is my personal position -- we need to draw a line and decide that we would be better off with an under-funded, fighting progressive minority party than a party marked by obvious duplicity and constant losses on every policy front as a result of the reversals in our own leadership.
What should progressives do? He offers a list, including:
it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society -- programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance -- the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud -- the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles– get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future. ... We are not going to get these things, but we should have a clearly defined program so that people know what they are.
Why work to do all this? Because "in the long run we need to recognize that the fate of the entire country is at stake. Its governance can't be entrusted indefinitely to incompetents, hacks, and lobbyists. Large countries can and do fail, they have done so in our own time."

And finally, about hope (a concern I hear constantly):
We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let's remember the dictum of William of Orange that "it is not necessary to hope in order to persevere."

The president should know that, as Lincoln said to the Congress in the dark winter of 1862, he "cannot escape history." And we are heading now into a very dark time, so let's face it with eyes open. And if we must, let's seek leadership that shares our values, fights for our principles, and deserves our trust.
I present this as one well-reasoned contribution to a discussion we must be having, starting now, if we are ever climb our way — together — out of this mess.

I understand that Iowa is 14 months away, give or take. That's not much time. I'm not making a recommendation yet; but I am saying that whatever progressives decide to do, we need to decide it soon. I offer this speech as one voice in that discussion.

Yours in perseverance,

GP



robert shumake detroit

Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista <b>...</b>

Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: ... Posted in: Beauty, News ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL <b>News</b>

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.


robert shumake detroit

Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista <b>...</b>

Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: ... Posted in: Beauty, News ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL <b>News</b>

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.


robert shumake

On Monday, I linked to this op-ed from Tom Esvlin, Vermont's "stimulus czar," lamenting the way the money got spent. "Although I'd like to think Vermont did better than many states, much of the money ended up continuing bloated programs rather than providing a transition to a sustainable future," he wrote. That same day, Brookings' Gary Burtless e-mailed in a rebuttal that's worth quoting at length, as it's a very clear description of where the stimulus funds actually went, and why such a small percentage was directly devoted to building things. So here it is, with some edits for space:



The main problem with that silly op-ed is that it refers to only a small slice of the actual federal spending on stimulus authorized by the Feb. 2009 legislation. So far, the overwhelming share of that stimulus has been devoted to three items: Tax cuts for households; direct benefits to people adversely affected by the severe recession, mostly the unemployed or poor; and fiscal relief to state and local governments. Vermont did not need any "Czar" to receive or administer funds under these programs. The money for them quickly left the U.S. Treasury without any effort on the part of the Czar who penned this highly misleading op-ed piece. People in Vermont *directly* received benefits from the stimulus as: (1) lower federal tax withholding from their paychecks; (2) extended unemployment benefits; (3) premium subsidies so they could maintain their health insurance after they were laid off from a job in which they received health protection; (4) miscellaneous benefits (e.g., for college costs) under one provision or another; and (5) aid from the Treasury that permitted Vermont and its localities to finance their Medicaid and K-12 education programs without hiking taxes or lowering other public spending. The kinds of infrastructure spending for which the WSJ's "Czar" had some responsibility constituted a small percentage of the stimulus the Congress authorized for 2009 and 2010.



In FY 2009 and 2010, the EXPECTED spending on infrastructure and other items for which the Vermont “Czar” may have had partial responsibility accounted for just 11% of anticipated spending under the stimulus legislation. The other 89% had nothing to do with the programs criticized by Vermont’s supposed Czar. Thus, all of his complaints – even if justified – are essentially irrelevant to the programs mainly supported by the stimulus law … at least so far. Obviously, in the years 2011-2019, that kind of stimulus spending would have accounted for a vastly larger share of outlays. But (and perhaps Vermont’s Czar has not kept up with this because he does not read a daily paper) the Congress just passed and the President just signed ANOTHER stimulus program consisting of more than 90% personal and business tax cuts and less than 10% extensions in unemployment benefits. So far as I know, very little additional spending has been authorized for those hated infrastructure / technology investment projects. Below is the CBO’s year-by-year analysis of the spending authorized under the Feb. 2009 stimulus law:





My own private view is that the country would probably have been better off if *MORE* of the original stimulus had been devoted to infrastructure / technology investment (more of it would have been spent on goods and services produced in the U.S. rather than China, East Asia, and Europe). Setting aside that consideration for a minute, what infuriates me about the piece cited in your blog is that it reinforces the very widespread but totally erroneous impression that Congress and the Administration were unaware of the administrative hurdles to fast spending that the “Czar” points out in his op-ed. Those hurdles were understood from the very beginning, which is precisely the reason that infrastructure/technology investment projects constituted such a small percentage of the total package. It is perfectly legitimate to criticize the pace of spending on these projects, but it is utterly deranged to think that the slow rate of spending on the projects constitutes a serious indictment of the spending authorized under the Feb. 2009 stimulus program. Very little of the expected spending under the stimulus program (at least so far) was supposed to be devoted to those projects.




In a powerful and well-reasoned speech, economist James Galbraith (son of John Kenneth Galbraith, by the way) has strong words for President Obama. He also offers his thoughts on "where progressives go from here" (h/t Digby). It's a strong piece, well worth your careful read (my emphasis throughout).

On Obama, he says "one could say he has betrayed [our] hopes." Please check the paragraphs that lead to that sentence; they don't contain a rant, but a list.

On the future and the Democratic Party, his analysis is excellent:

What happens next? Let's again not kid ourselves, we have lost a great many seats in the House of Representatives and the House of Representatives isn't coming back into a Democratic majority in the near future. Simply because of the balance of exposures -- the larger numbers of Democratic Senators exposed to reelection in the next cycle, the greatest likelihood is that the Senate will also go Republican in two years time. President Obama has set his course. He has surrounded himself with the advisers of his choice and as he moves to replace President Summers we hear from the press that the priority is to "repair the rift with his investors on Wall Street." What does that tell you? It tells me that he does not have President Clinton's fighting and survival instincts. I've not heard one good reason all day to believe that we are going to see from this White House the fight that we want, that he could win in two years, or any reason we should be backing him now.

The Democratic Party has become too associated with Wall Street. This is a fact. It is a structural problem. It seems to me that we as progressives need -- this is my personal position -- we need to draw a line and decide that we would be better off with an under-funded, fighting progressive minority party than a party marked by obvious duplicity and constant losses on every policy front as a result of the reversals in our own leadership.
What should progressives do? He offers a list, including:
it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society -- programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance -- the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud -- the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles– get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future. ... We are not going to get these things, but we should have a clearly defined program so that people know what they are.
Why work to do all this? Because "in the long run we need to recognize that the fate of the entire country is at stake. Its governance can't be entrusted indefinitely to incompetents, hacks, and lobbyists. Large countries can and do fail, they have done so in our own time."

And finally, about hope (a concern I hear constantly):
We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let's remember the dictum of William of Orange that "it is not necessary to hope in order to persevere."

The president should know that, as Lincoln said to the Congress in the dark winter of 1862, he "cannot escape history." And we are heading now into a very dark time, so let's face it with eyes open. And if we must, let's seek leadership that shares our values, fights for our principles, and deserves our trust.
I present this as one well-reasoned contribution to a discussion we must be having, starting now, if we are ever climb our way — together — out of this mess.

I understand that Iowa is 14 months away, give or take. That's not much time. I'm not making a recommendation yet; but I am saying that whatever progressives decide to do, we need to decide it soon. I offer this speech as one voice in that discussion.

Yours in perseverance,

GP



robert shumake detroit

Personal Finance Software by Lauren Caulfield BCC


robert shumake

Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista <b>...</b>

Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: ... Posted in: Beauty, News ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL <b>News</b>

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.


robert shumake

Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista <b>...</b>

Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: ... Posted in: Beauty, News ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL <b>News</b>

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.


robert shumake

The personal finance community on the internet has grown exponentially in the last few years. The number of blogs which discuss topics about money has to be in the hundreds, and they are not all the same. There are fundamentally different viewpoints on different blogs. Some blogs offer great advice, some should not be listened to. Some get thousands of visitors a day and some get just a few. There are a lot of dirty little secrets about the personal finance world that not many people talk about, but they're there. Let's take a look at them, some of which I am guilty of myself.

I have practically no formal training in personal finance. I went to college for computer science and mathematics, the closest thing I took to a business class was macroeconomics. I took a few random business courses in high-school, but they didn't amount to much. Much like the vast majority of the personal finance community, I learned everything I know about money outside of the classroom. My knowledge comes from the dozens of finance books I've read, the finance websites and magazines I read, and the finance talk shows I listen to on the radio.

I think some of the other personal finance bloggers are crazy. I have a very conservative viewpoint on money, and think leveraging is just a way to get your self in financial trouble. I could care less what my credit score is and don't worry about little opportunities to make a few pennies here and there through things such as arbitrage and rewards programs. I don't think that's really enough. A lot of people focus on ways to make a few bucks here and there, but in my own financial life, I've realized that the only way to build wealth is to live on a fraction (often as low as 25%) of my income and saving/invest the rest.

I'm obsessed with my site statistics. I currently run two different statistics counters about my website, and am very interested in how many people come to my website on a daily basis. It would be a strange day if I didn't check my SiteMeter statistics at least 5 times a day. Usually I check my Ad Sense revenue at least that much.

Some personal finance bloggers have major conflicts of interest. This is something that I do not do, however some bloggers will talk about a financial product or company and review them. At the end of their review, they will provide a link to the product they just reviewed, but instead of a regular link, it's a referral link. They have some sort of financial incentive for you to go to that site and sign up for the product, so the chances their reviews are unbiased are pretty slim.

I spend way too much time promoting my site. I submit every single article to I write to at least 5 different social book-marking sites, talk articles up amongst my friends, post on other people's blogs and then leave a link to mine at the bottom, submit them to all sorts of different directories and the like. I probably spend half as much time promoting my articles as I do writing them.

I have my own personal hate club on Fat Wallet. I recently wrote an article about why I could care less what my credit score is. I'm never going to borrow money, so I don't really need one. Of course a group of financial sophisticates on Fat Wallet who earn a few thousand each year from playing games with credit cards just couldn't that stand. So there was a 5 page thread that was created telling me I'm full of it. I wonder how many of these guys live on 25% of their income and save/invest the rest.

There are times I don't follow my own advice. I make a lot of illustrations about how cutting back a bit here and there will save big over the long period of time. I also decried drinking pop in a post entitled "Say no to Soda!" Yet I still drink at least 2 cans a day. There are some things in life that I can't bring my self to give up even though I know I should. Personal finance is all about behavior, and even sometimes my frugality does less than smart things.



robert shumake detroit

Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista <b>...</b>

Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: ... Posted in: Beauty, News ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL <b>News</b>

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.


robert shumake detroit

Personal Finance Software by Lauren Caulfield BCC


robert shumake detroit

On Monday, I linked to this op-ed from Tom Esvlin, Vermont's "stimulus czar," lamenting the way the money got spent. "Although I'd like to think Vermont did better than many states, much of the money ended up continuing bloated programs rather than providing a transition to a sustainable future," he wrote. That same day, Brookings' Gary Burtless e-mailed in a rebuttal that's worth quoting at length, as it's a very clear description of where the stimulus funds actually went, and why such a small percentage was directly devoted to building things. So here it is, with some edits for space:



The main problem with that silly op-ed is that it refers to only a small slice of the actual federal spending on stimulus authorized by the Feb. 2009 legislation. So far, the overwhelming share of that stimulus has been devoted to three items: Tax cuts for households; direct benefits to people adversely affected by the severe recession, mostly the unemployed or poor; and fiscal relief to state and local governments. Vermont did not need any "Czar" to receive or administer funds under these programs. The money for them quickly left the U.S. Treasury without any effort on the part of the Czar who penned this highly misleading op-ed piece. People in Vermont *directly* received benefits from the stimulus as: (1) lower federal tax withholding from their paychecks; (2) extended unemployment benefits; (3) premium subsidies so they could maintain their health insurance after they were laid off from a job in which they received health protection; (4) miscellaneous benefits (e.g., for college costs) under one provision or another; and (5) aid from the Treasury that permitted Vermont and its localities to finance their Medicaid and K-12 education programs without hiking taxes or lowering other public spending. The kinds of infrastructure spending for which the WSJ's "Czar" had some responsibility constituted a small percentage of the stimulus the Congress authorized for 2009 and 2010.



In FY 2009 and 2010, the EXPECTED spending on infrastructure and other items for which the Vermont “Czar” may have had partial responsibility accounted for just 11% of anticipated spending under the stimulus legislation. The other 89% had nothing to do with the programs criticized by Vermont’s supposed Czar. Thus, all of his complaints – even if justified – are essentially irrelevant to the programs mainly supported by the stimulus law … at least so far. Obviously, in the years 2011-2019, that kind of stimulus spending would have accounted for a vastly larger share of outlays. But (and perhaps Vermont’s Czar has not kept up with this because he does not read a daily paper) the Congress just passed and the President just signed ANOTHER stimulus program consisting of more than 90% personal and business tax cuts and less than 10% extensions in unemployment benefits. So far as I know, very little additional spending has been authorized for those hated infrastructure / technology investment projects. Below is the CBO’s year-by-year analysis of the spending authorized under the Feb. 2009 stimulus law:





My own private view is that the country would probably have been better off if *MORE* of the original stimulus had been devoted to infrastructure / technology investment (more of it would have been spent on goods and services produced in the U.S. rather than China, East Asia, and Europe). Setting aside that consideration for a minute, what infuriates me about the piece cited in your blog is that it reinforces the very widespread but totally erroneous impression that Congress and the Administration were unaware of the administrative hurdles to fast spending that the “Czar” points out in his op-ed. Those hurdles were understood from the very beginning, which is precisely the reason that infrastructure/technology investment projects constituted such a small percentage of the total package. It is perfectly legitimate to criticize the pace of spending on these projects, but it is utterly deranged to think that the slow rate of spending on the projects constitutes a serious indictment of the spending authorized under the Feb. 2009 stimulus program. Very little of the expected spending under the stimulus program (at least so far) was supposed to be devoted to those projects.




In a powerful and well-reasoned speech, economist James Galbraith (son of John Kenneth Galbraith, by the way) has strong words for President Obama. He also offers his thoughts on "where progressives go from here" (h/t Digby). It's a strong piece, well worth your careful read (my emphasis throughout).

On Obama, he says "one could say he has betrayed [our] hopes." Please check the paragraphs that lead to that sentence; they don't contain a rant, but a list.

On the future and the Democratic Party, his analysis is excellent:

What happens next? Let's again not kid ourselves, we have lost a great many seats in the House of Representatives and the House of Representatives isn't coming back into a Democratic majority in the near future. Simply because of the balance of exposures -- the larger numbers of Democratic Senators exposed to reelection in the next cycle, the greatest likelihood is that the Senate will also go Republican in two years time. President Obama has set his course. He has surrounded himself with the advisers of his choice and as he moves to replace President Summers we hear from the press that the priority is to "repair the rift with his investors on Wall Street." What does that tell you? It tells me that he does not have President Clinton's fighting and survival instincts. I've not heard one good reason all day to believe that we are going to see from this White House the fight that we want, that he could win in two years, or any reason we should be backing him now.

The Democratic Party has become too associated with Wall Street. This is a fact. It is a structural problem. It seems to me that we as progressives need -- this is my personal position -- we need to draw a line and decide that we would be better off with an under-funded, fighting progressive minority party than a party marked by obvious duplicity and constant losses on every policy front as a result of the reversals in our own leadership.
What should progressives do? He offers a list, including:
it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society -- programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance -- the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud -- the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles– get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future. ... We are not going to get these things, but we should have a clearly defined program so that people know what they are.
Why work to do all this? Because "in the long run we need to recognize that the fate of the entire country is at stake. Its governance can't be entrusted indefinitely to incompetents, hacks, and lobbyists. Large countries can and do fail, they have done so in our own time."

And finally, about hope (a concern I hear constantly):
We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let's remember the dictum of William of Orange that "it is not necessary to hope in order to persevere."

The president should know that, as Lincoln said to the Congress in the dark winter of 1862, he "cannot escape history." And we are heading now into a very dark time, so let's face it with eyes open. And if we must, let's seek leadership that shares our values, fights for our principles, and deserves our trust.
I present this as one well-reasoned contribution to a discussion we must be having, starting now, if we are ever climb our way — together — out of this mess.

I understand that Iowa is 14 months away, give or take. That's not much time. I'm not making a recommendation yet; but I am saying that whatever progressives decide to do, we need to decide it soon. I offer this speech as one voice in that discussion.

Yours in perseverance,

GP



robert shumake

Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista <b>...</b>

Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: ... Posted in: Beauty, News ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL <b>News</b>

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.


robert shumake

Personal Finance Software by Lauren Caulfield BCC


robert shumake










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