The Average Joe

As the GOP pushes ahead with their tax plan, clearing both Houses in Congress, we seem to be going down a familiar, yet dangerous path. There are two economic ideas that have come to dominate Republican economic policy. They are that tax cuts pay for themselves and that the theory of “starve the beast” actually works. The “starve the beast” theory states that by lowering taxes, this forcefully reduces spending, as there is less revenue coming in. If anyone follows Bruce Bartlett, former economic advisor to Presidents Ronald Reagan and George H.W. Bush, it is easy to see how starving the beast does not work and leads to higher spending. The truth of the matter is that neither one of these ideas have worked. In fact, a recent study done by the Congressional Research Service (CRS), has found that lowering tax rates on the top 2 percent does not spur any kind of economic growth. To add to that point, just looking back on history will also demonstrate that tax cuts do not pay for thems...

Over the last week we have been hearing that Larry Summers might be President Obama’s pick for the next chair of the Federal Reserve after Ben Bernanke retires.  Just from looking at his history, as well as the economic history of the United States over the last 15 years, he is the wrong man for the job. President Obama has demonstrated that he is loyal to those that have supported and aided him, but picking Larry Summers would be a terrible mistake, as we are still recovering from the worst financial crisis since the Great Depression.  It is best to put somebody at the Federal Reserve that will respond quickly and effectively.  In looking back to the late 1990’s, it is clear to see that Larry Summers is not that guy. Back in the late 1990’s, Brooksley Born, the former head of the Commodity Futures Trading Commission (CFTC), vigorously pushed to regulate the risky over-the-counter derivatives market, which are off-balance sheet agreements whose prices are dependent up...

Over the last decade, we have seen the ongoing erosion of our civil liberties and attacks on the middle class here in the United States.   Through war under false pretenses, illegal wiretapping , warrantless search and seizures , as well as prison without a fair trial…or any trial for that matter; we as a people remained silent.   There had been no indication that anyone seemed to notice.   The United States is not living up to its democratic principles. In the past, we as a people would protest against actions like these.   However, even if we wanted to freely protest at a presidential rally or appearance, we have lost that right as well.   The Secret Service can setup free speech zones to contain and control these protests.   In fact, here in the New York City, if a group wanted to protest, they must do so by obtaining a parade permit , which Mayor Bloomberg has failed to grant.   What idiot signed this into law and how did the American people a...

Occupy Wall Street…It’s About Time Over the last few weeks, I have had the opportunity to pass through the Occupy Wall Street protests on my way home. Since its inception, it has grown to thousands of people here in NYC and other major cities around the United States. All I can say is that it is about time, but they need a unified voice and leadership.  Although this protest has many demands, such as raising taxes on the rich and corporations, ending corporate welfare, lowering the cost of higher education, protecting Medicare and Social Security in their traditional forms; the common theme is corruption within the American government and the influence of corporations on U.S. laws and policymakers. However, this protest is still segmented.      It is the duty of every American to protest when injustices like these occur. Yet, it is also imperative for there to be leadership and unity amongst the protesters. Although the protesters appear to be...

On August 10, 2011, the first Chinese Aircraft carrier embarked on its maiden voyage.  This signals a boost in international prestige for China, as well as a big step in modernizing their military.  However, I cannot help but read article after article as to how this can be a threat to the United States and its interests.  I have read headlines that range from “the end of American naval dominance” to “their aircraft carrier can complete with the United States’”.      Lets take a further look at this from a different angle than that of the mainstream media.  China’s first and only aircraft carrier, so far, is not a brand new construction.  Formerly known as the Varyag, this is a Soviet era aircraft carrier that was purchased by China from the Ukraine, a former Soviet Bloc nation.  In comparison to the aircraft carriers deployed by the United States, this is extremely limited in capabilities.  The Varyag will only be able to ...

It appears that the United States defaulting on its loans has been averted after a deal has been made between Congress and the White house in regards to a debt ceiling increase.   However, there are still very important questions regarding America’s stability and growth as we move passed the debt deal.   To be direct, the path we are on as a nation is unsustainable! The United States has a national debt of over $14 trillion and for every dollar it spends, forty cents of that is borrowed.    On the right side of the debt negotiations, Tea Party Republicans and Conservatives were outright opposed to tax increases and closing tax loopholes that allow those to avoid paying taxes at their tax rate; while Democrats were deeply opposed to spending cuts that would impact Social Security, Medicare and Medicaid. If one thing has been demonstrated, it is that this government can be highly dysfunctional when it comes time to do something that will help the United State...