Archive for category 2012 Elections

Obama Draws Line In Sand

On Tuesday, President Obama delivered his most powerful speech since taking office. The central theme was  that America succeeds when everyone “gets a fair share and pays their fair share.”  President Obama eloquently presented a passionate statement about the 2012 race for the White House and the malaise that Republicans have caused in the nation’s most ineffective Congress in history.

Barack Hussein Obama Vector Portrait
Creative Commons License photo credit: Vectorportal
The President described the rights of the middle class and the impoverished as the defining issue of his campaign to serve a second term.  The tone of the speech was forceful and served to differentiate the political philosophies of the Republican, Tea Party and Democratic principles.

The President drew upon the policy statements that have surfaced in the Republican debates. Obama vowed to continue with the regulatory initiatives that have cracked down on predatory lenders, Wall Street and other consumer credit markets.  Obama’s new truth in lending policies now calls for transparency and full disclosure, two principles that were compromised in the housing boom. The President was on the attack against programs that have helped create more financial disparity in American Society.

The President repeated his belief that most millionaires and billionaires were receptive to paying their fair share of taxes.  In a recent poll, 67 percent of Americans favor higher taxes on the wealthy.  President Obama continues to press the Republicans and especially the Tea Party on tax increases for the wealthy.  The Republicans have been slow to extend two important pieces of legislation.  Without extensions,  the long-term unemployment benefits and the current  payroll tax cut will soon expire. These bills have helped encourage jobs and have helped millions of unemployed workers survive.

Last time around, the Republicans used the fate of the unemployed to leverage a major concession from the White House.  7 million people would have had their benefits halted if the President did not agree to extend the Bush Tax Cuts.  Republicans hold these tax cuts as the means to increase jobs.  However, the tax cuts have now been in play for nearly ten years.  During that time, there is little evidence that the “job creators”or the benefactors of the Bush cuts have risen to meet the unemployment challenge.

Traditional Republicans and Tea Party Republicans advocate for the extension of Bush’s cuts.  In reality, the Bush Tax Cuts have served the wealthy well.  At the same time, the middle class struggles to stay above water.  One of the President’s major  concerns is the shape of our society.  With more than 40 million families and 21 million children living in poverty, American society has taken on the appearance of a caste system.

In seeking remedies to pay for their failed policies and two wars, the poor and the middle class are being asked to cut back on education, health and social services. The Republicans have not offered one jobs plan.  Republicans  are content to oppose every plan from the Democratic side. When the country most needs these programs, Republicans ask the middle class to sacrifice so that the wealthy can be more prosperous.

The gap from the real-time reality on Main Street and the prosperity on Wall Street is characterized by Republican presidential candidate Newt Gingrich’s response to the President’s speech. After agreeing to participate in a debate hosted by Donald Trump, Gingrich was asked by CNBC his opinion of Obama’s speech.  His response was that President Obama “is the finest food stamp president in American history.”  You really have to wonder on what planet Gingrich lives.

President Obama does not complain about where 8 years of GW Bush’s Republican policies took America.  Rather than admit their policies failed, they are attempting to destroy the messenger.  By ignoring the economic and employment crisis that Republicans initiated and enabled, the GOP Presidential candidates try to distance themselves.  The rest of us will be paying for the Republican’s  lavish spending for years to come.  Where were Republican politicians then? How nice it must be to have a short memory and be able to overlook the moral hazards of GW Bush.  Republicans launched two wars, one against a country that did not have weapons of mass destruction, and offered the public the Bush Tax cuts.  At that time, Republicans were not questioning how the wars and the tax cuts would be funded.

Adding insult to injury, the Republican defense of unregulated financial institutions caused the recession and tore through 401k’s and money market saving that impacted the middle class more than any other income level.  On Tuesday, the President passionately confirmed his commitment to further his new regulation policies.  Yet, by Wednesday morning, Republicans vowed that they would oppose every proposed leader for the leadership of Obama’s new consumer protection bureau would.

The President’s vision highlights the need for a stronger educational system. The US needs scientists and educated entrepreneurs. The opportunity to succeed ceases when the country’s educational facilities are understaffed and when academic excellence is compromised by funding cuts.

The President offers a solution the gridlock that has constipated Washington. To get out from under, voters must re-elect the president and try to overturn the majority in the House and add seats to their narrow majority in the Senate.  This is the formula that will unchain the middle class and the poor.  This is the formula that will clarify the country’s priorities.

President Obama called upon his base to get out the vote. The consequences of a lack of support will dramatically change the landscape of the country.  The 41 million middle class families that are trending toward poverty will have a hard landing.

The Republicans can paint the scene time and time again, but the end result is always the same. Most Republican congressional members have put their Grover Noquist pledge ahead of the best interests of their constituents.   Republicans will follow a path that is filled with self-interest.  If Republicans take the White House and gain control of the Senate and the House, the poor and the middle class will receive less help and drastic cuts to education and social programs.

The President has a vision for the future.  The President is committed to higher education.  The President is committed to an aggressive jobs bill.  He believes in the common good.  Reverse all these statements and you have the Republican candidate for President.

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Elizabeth Warren Building Her Base

Consumer and middle-class advocate Elizabeth Warren and incumbent Republican Scott Brown will square off for Senator Edward Kennedy’s senate seat in Washington. This race shapes up to be one of the most expensive battles on next year’s docket.

In the 2010 race to fill Kennedy’s seat, Democrats were stunned with Brown’s victory over Massachusetts Attorney General Martha Coakley. Brown played the role of the easy-going friend next door to the hilt. Coupling this role with strong support from the Tea Party, Brown breezed by Coakley whose campaign was lackluster at best. The 2012 race will be high-profile and will reflect the deep divide between Republicans and Democrats.

Brown and Grover Norquist

Brown was sworn to office in February 2010. Appreciative of the support of the Tea Party, Brown wasted no time signing the Norquist pledge. During his tenure, the Senator crossed the Norquist line by supporting the existing ethanol policy, a $6 billion subsidy.

Brown drew the ire of Norquist’s American Tax Reform for going against the grain of the Taxpayer Protection Pledge. The Tea Party has toned down the pro-Brown rhetoric.

Since taking office, Brown has not been Tea Party compliant. He appears to have one eye on the Tea Party and another eye on his re-election. For the most part, Brown has complied with most Tea Party initiatives to impose deep spending cuts to programs upon which the fate of the middle class, the poor and the unemployed rests.

Warren And The Consumer Financial Protection Bureau

Elizabeth Warren gained acclaim for her work to develop President Obama’s Consumer Financial Protection Bureau. As a passionate advocate for consumer protection, Warren went against the grain. She was infuriated with the reckless and self-serving credit standards used by too-large-to-fail financial institutions. Her every move was resisted by Republicans.

Unabashed, Warren persevered. The Harvard professor and graduate of Rutgers Law School staked her claim by creating an effective platform to rewrite uniform lending policies that were transparent and accompanied by full disclosure. The new Truth in Lending Act has Warren’s footprint imbedded in credit and mortgage lenders.

Warren’s policies have reshaped the relationship between lenders and borrowers

The creation of the Consumer Financial Protection Bureau cast Warren favorably in her role based on her personal commitment to protect consumers. Regarding Warren as controversial, President Obama did not hire Warren to head the Consumer Protection Bureau. The Democratic National Committee immediately pursued Warren.

Her tight grip on consumer’s rights became a source of agitation for the large banks and credit card providers whose credit policies resulted in millions of foreclosures, millions of short sales, billions of dollars of credit card overcharges. These lax, unregulated practices nearly collapsed the global markets. Warren was charged with building a regulatory agency that could prevent a recurrence.

Elizabeth Warren has been the target of derisive rhetoric from the right-wing establishment and big financials. In a city where government is mired in gridlock, Warren has been one of the few consistent voices.

In what is sure to be one of the country’s most high-profile races, Warren will continue her tenacious pursuit of serving the people. In Massachusetts, Brown’s endorsement of the Norquist pledge caught much of the Commonwealth constituency by surprise. There will be no surprises with Elizabeth Warren who has been successful in overcoming political roadblocks. She is one of the few people who has succeeded with her assignment.

A Big Money Race

Warren was successful with her September fundraising. She received more than $3 million to launch her run. In the same time frame, Brown raised $1.5 million raising the incumbent’s war chest to $10 million.

This election is important for a number of reasons. Democrats cannot afford any more losses in the Senate. They hope to increase their majority to 60 votes. Meanwhile, Republicans want to gain the advantage so they control both the House and the Senate. Every Democratic victory is a step in unraveling the gridlock caused by insider Republican politics and back room deals that usurp the people’s wishes.

Since deciding to run, Warren has taken a very personal and hands-on approach to her candidacy. She is attending town hall meetings and taken her message on an unusual door-to-door introduction. Considering her passion for defending not only her constituents but also voters across the nation, this should not be surprising.

The acclaimed professor takes this opportunity and responsibility personally. Coakley lacked enthusiasm for the fight against Brown. Warren brings first-hand experience and unlimited passion to the 2012 race. She is a credible source about the workings of Washington and Brown.

More importantly, this race characterizes the rift between the Republican elitist establishment and Warren’s fight for the people. There is a deep chasm between the principals and policies these two candidates support.

Warren advocates policies that will help the 46 million Americans living in poverty, the 21 million children living in poverty and the 51 million Americans trending toward the poverty level. Brown is not on solid ground if the race boils down to addressing these issues.

Warren’s “can do” mindset will pit her squarely against Brown and the Republican quagmire. If elected, she will ruffle feathers. Warren is not intimidated by Washington. She is well-known by incumbent senators and house members. As for ruffling feathers, that is nothing new to Elizabeth Warren.

With Elizabeth Warren, residents of the Commonwealth will be represented the way they should have been represented since Brown tried to fill Ted Kennedy’s seat. Her constituents can look forward to her vigorous, a-political representation.

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