Icarus’ Daily Keen Insight Into The Obvious: It Is (Past) Time For Bush To Go

December 12, 2008 12:55 pm

by Icarus · 84 comments

note:  No, this has nothing to do with Georgia Politics, but I’ve held it in as long as I can, and I had to let this out somewhere…

 

I have never voted for a Democrat for the Office of President.

I have never voted for a Democrat for the US House, either, though I did vote for Sam Nunn once.

But as of now, I am anxiously looking forward to the swearing in of Senator Barack Obama if for no other reason than I no longer have to defend the intellectual bankruptcy that is the Presidency of George W. Bush.

While I can still defend most of the actions of his first term (I won’t, it will just get Indy Injun all lathered up again about the “fraudsters”), the post-2004 Bush Presidency has seemed to have one singular goal:  To forget the mistakes of the past, and press on to the greater mistakes of the future.

This is a President that boldly stated after his re-election “I have earned some political capital, and I’m going to spend it.”  And what did he choose to spend it on?  A nebulous plan to privatize social security that he seemed to think out loud about for 18 months, leaving his Republican majority Congress twisting in the wind in an effort to try and support something that was ill-defined, unpopular, and never produced in writing so that it could be voted up or down.   When he finally bailed on it just before the 2006 mid-terms, he found that “Stay the Course” was neither a tactic nor a strategy, and that the public had grown tired of a failed war plan, failed action on securing social security, his “heck-of-a-job” on New Orleans, and that most Republican principles had been sold by Jack Abramoff to anyone who had good Redskins tickets.

So, Republicans in Congress took it up the shorts in 2006.   Congressional leadership is certainly not blameless, but the buck stops with the Pres, and he is the one that set the massive failure of an unpopular agenda that the Congress blindly supported.  So what does an unpopular president do to show his thanks to this Congress when they lost big?  He fired Rumsfeld days after the election.   Not before, when it probably would have helped them.  After is better, when it’s not “political”.  (Note to Pres:  Firing someone who failed to execute what should have been a very basic contingency plan for victory is going to be political whenever it happens.  Doing it at a time for the maximum disadvantage doesn’t make it non-political.  It just makes you an ass.)

Undeterred, Bush has seemed to make it a personal mission to make us forget his failures at Social Security reform, Katrina Relief, or the first 4,000 lives and $700 Billion of the Iraq war.  (There’s something biblical about the number 7.  There’s something Bush about putting 8 zero’s behind it.).   I really enjoy watching the tapes of Hank Paulson telling congress that he needed $700 Billion for a TARP program (note, I think there are people in New Orleans that would still appreciate a $7 blue tarp to put on a roof…), and that the money must be appropriated immediately or the financial system would collapse.   When asked how he came up with that number, he said something to the effect of “I pulled it out of Ben Bernake’s butt”.  I guess that sounded better than it was Biblical Bush math.  Paulson was also asked if the money just shouldn’t be loaned to banks to shore up their capital bases.  He insisted that there was no way it would work.  But the language in the original Bill stated that he, and he alone, would choose how to spend the $700 Billion.  And that no court, agency, or other body of review could challenge his decision.   WTF?

Weeks later, then money was appropriated, and amazingly, was spent in the manner that Paulson had testified had no chance of working.  For their loyalty (stupidity?) for trusting the Bush White House once again, seven more Republican Senators lost their seats. 

So we come to last evening.  The bitter sting of being vanquished still fresh on their minds, the Republicans in the Senate are passed yet another steaming fresh pile of dung from the Bush team.  Told they must pass it or the world will end tomorrow, they finally pushed back a bit.   Lead by Bob Corker from Tennessee, one of the few states with both domestic and foreign owned auto plants, the Republicans insisted that stockholders, bondholders, and unions take dramatic haircuts to 1) force the domestic companies to form a competitive cost structure, and 2) provide a reasonable framework for which the taxpayers would be paid back.

The companies agreed on behalf of the stockholders and bondholders.  The unions balked.  They knew that Bush and Pelosi wouldn’t leave them hanging.   And they were right.

Today, we have this quote from the Bush Team:

“Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” Treasury spokeswoman Brookly McLaughlin said.

Congress didn’t “fail to act”.   They deliberated, and reached an appropriate action plan that didn’t unnecessarily put taxpayer funds at risk.  They didn’t vote to preserve above market wages at the expense of those who work under market based conditions.  They refused to vote to preserve institutionalized incompetence at all levels of the industry.

But instead of backing those who have thrown themselves on the sword for him, time after time, issue after issue, Bush has decided to do (AGAIN) what Paulsen just weeks ago said was inappropriate.  He’s going to fund a blank check to the auto companies out of TARP funds.

Mr. President, it is time for you to go.  It has been a long time since you have made any attempt to govern according to the conservative principals you represent.  The damage you have done to the conservative movement is severe, deep, and possibly permanent.   You now appear to be ready and eager to do the bidding of the Democrats in Congress.  Why not just go ahead, call Senator Obama, and ask him to come by and pick up the keys to 1600 Pennsylvania Ave?  At least then, the country would be 5 weeks ahead of the recovery plan that will be the one that matters.  You are clearly biding time, and the country needs direction and leadership.   You appear both unable and unwilling to provide that.

I am ready for our new President.  And I will support him until he does something worthy of losing that support.  I’ve learned not to say “it can’t be worse”, because often it can.  However, America is a country of optimism, and I choose to be an optimist. 

And it will be much easier to be an optimist when I can quit trying to defend or explain away the actions of George W. Bush.

odinseye2k December 12, 2008 at 1:06 pm

The 18 Senators who were willing to go along with their Republican President when it was $700B on the line for bankers, but got all stingy when working people were involved:

Bob Bennett, R-UT
Richard Burr, R-NC
Saxby Chambliss, R-GA
Tom Coburn, R-OK
Norm Coleman, R-MN
Bob Corker, R-TN
John Ensign, R-NV
Chuck Grassley, R-IA
Judd Gregg, R-NH
Orrin Hatch, R-UT
Kay Bailey Hutchison, R-TX
Johnny Isakson, R-GA
John Kyl, R-AZ
Mel Martinez, R-FL
John McCain, R-AZ
Mitch McConnell, R-KY
Lisa Murkowski, R-AK
John Thune, R-SD

Icarus December 12, 2008 at 1:10 pm

I love the “working people” moniker that Dems love to use, especially when it applies to the thousands of people sitting on their butts in a “jobs bank” earning $70/hour.

Those people that will be working on the Kia assembly line for $40ish/hour will really love knowing that their tax dollars are going to make sure those poor “working people” in the jobs bank don’t have to let the real world bump into their cozy existance.

odinseye2k December 12, 2008 at 1:24 pm

Hey, the Kia people are very welcome to unionize up just as well. Their $40ish / hour could just as well be $25-30ish / hour without the industry standard being lifted by the union.

Also, $70 / hour is a very distorted number to use. It’s more like $30 / hour in take-home pay and $26 / hour in benefits. Which are comparable numbers to the foreign-owned plants. The main difference is $3 / hour in pension costs to the foreigns versus $16 / hour in pension costs to the domestics. And the transition from defined benefit to defined contribution and VEBA was handling that.

http://www.nytimes.com/imagepages/2008/12/10/business/20081210_LEONHARDT_GRAPHIC.html

As for the jobs bank, I personally think it is an excellent idea in a cyclic industry. That way, you don’t have to continuously fire and re-hire (or hire complete newbies as those who have been through one or two cycles just say “screw it” and wander on to better prospects). The caveat there is that there does have to be some reduction in wages or giving up of some overtime in compensation. In other words, lop off the peaks in order to fill the troughs.

Icarus December 12, 2008 at 1:29 pm

“the Kia people are very welcome to unionize up just as well. Their $40ish / hour could just as well be $25-30ish / hour without the industry standard being lifted by the union.”

Or, the Kia’s could end up being built in Korea if the workers decide to unionize up, as well.

“As for the jobs bank, I personally think it is an excellent idea in a cyclic industry. ”

Yep. I especially enjoyed watching the interview of the UAW worker who spent the last 7 years in the jobs bank. How long is this cycle, anyway?

As for the hourly difference, if it’s only $3, why wouldn’t the union go along with it and get this settled via congressional action last night?

odinseye2k December 12, 2008 at 1:35 pm

“Or, the Kia’s could end up being built in Korea if the workers decide to unionize up, as well.”

Do you honestly think Koreans are better paid than Southerners? My very limited attempts to search suggested an annual salary for Kia workers there is about $20k.

Icarus December 12, 2008 at 1:39 pm

Which is why it would be advantageous for Kia to move the production back to a country with cheaper labor.

Unions pushing up wages beyond market levels don’t make us MORE competitive with other countries, OD.

HollyJ December 12, 2008 at 1:39 pm

Icarus: Do you think that fellow Republicans feel the same way?

Icarus December 12, 2008 at 1:46 pm

Holly,

I guess it would depend on what you mean by fellow Republicans.

Some, like Farris for example, have been beyond fed-up for quite some time.

Others look at things as a team sport, and as long as someone has an “R” next to their name, these folks will support no matter how stupid or unprincipled their ideas/actions.

I personally think we would all be better served by looking past the stupid letters and trying to figure out what someone actually stands for, and how their actions are going to generate more or less government control over our lives.

I’m sure Obama will, in many ways, push for more government control. I’m just not sure he’ll have the ability to expand goverment as much as the “small government” Republicans have over the last 8 years.

jsm December 12, 2008 at 1:49 pm

Well… here’s a good explanation of what we have to look forward to:

The night we waved goodbye to America… our last best hope on Earth
“The swooning frenzy over the choice of Barack Obama as President of the United States must be one of the most absurd waves of self-deception and swirling fantasy ever to sweep through an advanced civilisation. At least Mandela-worship – its nearest equivalent – is focused on a man who actually did something.

“I really don’t see how the Obama devotees can ever in future mock the Moonies, the Scientologists or people who claim to have been abducted in flying saucers. This is a cult like the one which grew up around Princess Diana, bereft of reason and hostile to facts. ”
http://www.dailymail.co.uk/news/article-1084111/PETER-HITCHENS-The-night-waved-goodbye-America–best-hope-Earth.html

How sobering.

odinseye2k December 12, 2008 at 2:00 pm

“Unions pushing up wages beyond market levels don’t make us MORE competitive with other countries, OD.”

No, but I’m pointing out that there are often many different reasons for placing a plant in a given location. Everything does not merely boil down to how much you can extract from your labor force while providing little in return.

Not shipping your construction and replacement parts all over the planet is one major benefit to putting your assembly in the same place you sell your vehicles.

Icarus December 12, 2008 at 2:06 pm

“while providing little in return.”

Ask the Mercedes, Hyundai, or Honda workers in Alabama, the BMW workers in South Carolina, Toyota workers in Kentucky, Mississippi, or Texas, or the Nissan workers in Tennessee if they get little in return for showing up at work. In fact, when you talk to them, you’ll probably find out that they have better working condiditions than their UAW counterparts.

Furthermore, you’ll probably find that at least Toyota and Honda’s workers have been reassigned to non-production jobs within their plants during their recent capacity cutbacks. Preserving 100% of their base pay and still actually working for their wage. Something a UAW contract wouldn’t allow.

The employees at these plants are content and productive. And they don’t have a union skimming off the top of their accomplishments. At least, until now, when they pay their federal taxes. Now they will know that part of their wages are going to pay for people to sit in a jobs bank to keep them from building Chryslers.

John Konop December 12, 2008 at 2:12 pm

I wrote thos on my blog today

Deflation,Jobs and Credit

As I pointed out in the past a major factor in deflation is demand. That is why I recommended people to stay heavy in cash years ago. For the next three to 5 years this will be a buyers market in my opinion.

It could be a softer landing if we focus on the credit market via jobs.The biggest problem we face is unemployment. With the credit markets dry it will kill job creation and force lay-offs. This is tough spiral until the credit markets make a come back.

The key for any stimulus package is that it should focus on providing capital to credit worthy consumers and businesses (one who could afford the payment) being squeezed out via lack of trust in valuations.

Next week I will start posting my recommendations on what a stimulus package should look like. The key is it will focus on SBA style loans and consumer lending as long as they have a steady job, down payment above 10% and debt ratio that supports the payment.

Icarus December 12, 2008 at 2:17 pm

I agree John.

The key to an economic recovery isn’t shoving money in the top of banks or car companies and hope that it gets to the consumers. It’s going to rely on getting credit to the consumers once again.

Much like the mortgage re-cast program I suggested instead of TARP, I think we’re going to be at a point soon where the government will end up having to guarantee various forms of purchase fiancing, including SBA loans, auto purchases, etc, to grease the wheels of the economy and get things moving again.

My fear is, however, that every industry under the sun is already in line for their “rescue package”, and we’ll spend a few trillion more before we direct our resources to actually shoring up the consumer/taxpayer.

odinseye2k December 12, 2008 at 2:37 pm

“The key to an economic recovery isn’t shoving money in the top of banks or car companies and hope that it gets to the consumers. It’s going to rely on getting credit to the consumers once again.”

The difference I’ll make between the banks and the auto companies is that the auto companies actually build something and that we will get them fixed up relatively cheaply. There is a lot of leverage there in keeping a very large number of people employed. It isn’t that the auto companies have completely tanked – they are running more or less like a bankrupt airline with negative earnings but still producing and selling a very large number of cars. Also, the government isn’t really all that good at making cars.

As for the banking side – government is actually fairly good at pushing money around. If all you are after is liquidity, and you don’t mind tossing out $700B, there wasn’t much reason to turn that over to private hands rather than just developing a lending facility to keep things going.

odinseye2k December 12, 2008 at 2:39 pm

“The employees at these plants are content and productive. And they don’t have a union skimming off the top of their accomplishments.”

Yup, that money goes directly to the company bottom line, as of course it should. Once the threat of UAW goes away, I’m sure a lot more of that cash will be going to its rightful place.

Goldwater Conservative December 12, 2008 at 2:46 pm

What is with all the hate for labor unions?

This country was founded on liberties for people…not companies. The unions do a great job at keeping their members healthy, educated and well paid. That is what matters…not corporate profits.

Corporate profits just make a few wealthy people more wealthy. We have seen the conservative right un-tax corporations out of the dillusion that trickle-down economics might one day work. All this failed pseudo-philosophy has done is create more incentive for companies to not invest in their own infrastructure.

Fact is, economies of scale are not being created…life is not being made easier for the “demand-side” of the equation.

Unions are a good thing. If management did its job…there would not be a need for the unions anymore.

Icarus December 12, 2008 at 2:49 pm

The “banking” solution is what I proposed in lieu of the tarp, where the government would guarantee refinanced mortgages of anyone who was at 105% LTV or less on their existing mortgage, at a below market rate. There would be no “toxic” portfolios left, as virtually all mortgage portfolios’ would have been clensed via refinance.

While the capital outlay on behalf of the governement would have been north of $5 Trillion, we have lost more than that in asset values since then. The true “cost” to the government would have been negligible, and when you factor in lost taxes based on the declines in income/employment/cap gains over the last 90 days alone, I would suggest my plan would have been a net positive.

We also agree that the government isn’t good at making cars. Yet the committee chairman believe that American companies can pay above market wages to produce small, fuel efficient cars at competitive prices, and that consumers will buy them. It won’t happen, and throwing $100 Billion at Detroit won’t make it happen.

What would help detroit would be to make credit available to the sub-700 credit score crowd that would have easily been financed by GMAC or FordMotorCredit just 6 months ago. Sub-Prime lending may have been a disaster for the mortgage market, where homes became an investment commodity for those who had no idea what they were doing, but it is a necessity in the auto market place. And frankly, it worked for decades.

The government could make credit available much more easily and cheaply to get sales volumes back to the 12-14 Million annual units than attempting to manage production in Detroit from D.C.

Icarus December 12, 2008 at 2:57 pm

I’m sorry, I haven’t been reading my Upton Sinclair memos lately, and I forgot all factories are just like meat-packing plants in the late 1800s.

I forgot that since then, we’ve developed OSHA, The Equal Employment Opportunity Commission, and Class Action Lawsuits.

Yep, it’s the union that creates all value. Not entrepreneurs. Not workers. Not management. Unions are all about the workers paradise, where efficiency and productivitiy are celebrated, and union dominated companies are leaders in every industry on the world stage.

Sorry, I’ve got to go now. I’m late for my Eastern Airlines flight…

Doug Deal December 12, 2008 at 2:58 pm

I was ready for him to go 9 years ago, when he was selected by the Republican establishment to be the nominee before the campaign had even really begun.

Hopefully this will put an end to the influence of the Bush family and friends, who have derailed the GOP for most of the past 20 years.

John Konop December 12, 2008 at 2:59 pm

odinseye2k

The liquidity for borrowing at the consumer or small business level is dry. The key is priming the pump with a business or consumer likely to pay you back. That is why a cash flow analysis with a real down payment would work well when credit scores are in the tank.

If the government moved the money in that manner banks could pick up the program once the private market trust the system again with strong historic credit trends. This process would take about 18 to 36 months to demonstrate strong payment performance.

This would be better use of the bailout money because it would create rational consumption. The other part is you could drive long term health of the economy by only giving the low interest loan guarantee if the consumer buys a car with a MPG rating above 30. Or on the business side target industries that save on energy consumption ie public transportation, solar…… We could also focus on industries that actually produce U.S. products and hire American workers.

Energy prices are a major driver for inflation as well as deflation. A major driver is when the Bush administration and Congress gave huge tax breaks for SUV consumers. This was an example of poor long term financial planning.

John Konop December 12, 2008 at 3:02 pm

Icarus

You are right this is the key. But we must do it in a rational way avoiding defaults.

“What would help detroit would be to make credit available to the sub-700 credit score crowd that would have easily been financed by GMAC or FordMotorCredit just 6 months ago. Sub-Prime lending may have been a disaster for the mortgage market, where homes became an investment commodity for those who had no idea what they were doing, but it is a necessity in the auto market place. And frankly, it worked for decades.

The government could make credit available much more easily and” cheaply to get sales volumes back to the 12-14 Million annual units than attempting to manage production in Detroit from D.C.

Icarus December 12, 2008 at 3:08 pm

“But we must do it in a rational way avoiding defaults.”

Absolutely. Some defaults are expected. The industry standard used to be about 1.5%. Less and you weren’t being aggressive enough. More, and you were being careless, greedy, or both.

Income and employement verification are key. Credit scores are worthless to lenders for the next 24-60 months. And I’ve always thought the one lesson we learned from the depression (that we forgot about 5 years ago) was “skin in the game”. Down payments of hard money (not credit card advances, no gifts, no “down payment assistance from selling parties) should be required for any government backed financing.

odinseye2k December 12, 2008 at 3:09 pm

“Yep, it’s the union that creates all value. Not entrepreneurs. Not workers. Not management.”

Every single one in the group creates value. However, entrepreneurs are often alone or partners with just a few employees. No need to unionize there as everyone is roughly at parity power-wise.

Management of a major company is by definition (hopefully) well organized. The major opposition to their interests and those of the shareholders, who also often come in large organized blocks (either as super-wealthy individuals with financial advisors or mutual funds) is organized labor, or unions. The point is that the unions fight for the workers’ fair share and against cramdowns like Corker’s just as tenaciously as any other institutional player. Yet, instead of treating this as the natural reaction to a major power imbalance of individuals versus large institutions, it’s somehow treated as a disease.

Bill Simon December 12, 2008 at 4:14 pm

Careful, Icarus. YOU could be accused of being behind the Political Vine with that kind of -in-your-face smack on El Presidento Bush.

Icarus December 12, 2008 at 4:19 pm

I’ve been accused of many autrocious things, (and guilty of quite a few :) ), but never anything as bad as being behind the Political Vine.

IndyInjun December 12, 2008 at 4:41 pm

No Icarus is at the end of his rope….

Hey, “everybody” knows that corporations are just pass-through entities and only PEOPLE pay taxes, right……So say the Fairtax crowd. So since the corporations are pass-throughs, isn’t bailing them out the right thing to do, since the bailout funds will end up in the hands of PEOPLE.

And HEY don’t bash me.

I TOLD YOU SO…..about it all.

Hahahahaha…yesterday we had the spectacle of a former HEAD of NASDAQ admitting a $50 BILLION FRAUD, which is just more reinforcement to the masses that Wall Street has stolen the futures of everyone in this country.

Today it was reported that the AIG CEO recently went over to Asia to assure investors THERE that the $60 billion restitution to the US taxpayer that AIG is obligated to do WON’T happen…..And while you GOP suckers are at it, he wants ANOTHER $10 billion on top of the $150 billion Bush gave them. I suppose that is to pay even more bonuses. Meanwhile other insurors note that AIG is selling low-ball rates to churn cash flow, when the losses will end up with the state insurance pools.

These people don’t need a bailout. Their heads need to be toppled into a basket, a la Antionette.

Seriously.

Red Phillips December 12, 2008 at 4:41 pm

I was an anti-Bush conservative before being an anti-Bush conservative was cool. I refused to vote for him in 2000. I guess I was prescient.

The problem is that most anti-Bush conservative that are now griping refuse to admit that it was the War and his interventionist foreign policy that caused much of the problem, especially in 2006. “Conservatives” who attack big government but support foreign policy interventionism will never get the small government they pretend to seek.

I don’t support any bailouts because they are unconstitutional (as is 80-90% of what the Fed Gov does), but I do think it is telling that they were so quick to bailout fat cats but not the Big Three. Once they voted for the bank bailout they lost any credibility to invoke socialism or the proper role or government or whatever. The GOP is an elitist party trying to seek votes from populist middle class folks and then they scratch their heads why it doesn’t work.

kspencer December 12, 2008 at 5:02 pm

I would like to point out, in regard to the union refusing to go along, that this isn’t quite accurate. They had actually agreed to the cuts. In fact, they (along with the executives and the bondholders) agreed to both the first set of cuts and the second set as well, that came when Crocker took the first agreement back for Republican decision.

No, where the unions balked was when Crocker came back a THIRD time with just one more thing, this one only for the unions, and that being that ALL the agreed upon adjustments had to be done by the end of 2009 instead of early 2011. Note again, just the unions – everyone else got their couple of years.

Me, I learned back when that when you’ve got someone agreeing to most of your offers, and then you refuse because of one they didn’t accept, it had better be a darned important offer worth all the ones you’re going to lose. The president (allegedly) told the Republicans in the arm-twisting the other day that if they didn’t come to agreement he might be forced to TARP, so it’s not exactly a surprise. All that combined means this failure is wholly on the Republicans, not the auto companies or the president or the unions. Some story about a dog with a bone crossing a river comes to mind…

Icarus December 12, 2008 at 5:36 pm

Kspenser,

I think someone’s fed you a line of bull, and you appear to be ready to stand in line for seconds. I’ve been looking online for the past 10 minutes trying to find one of the earlier stories where Gettelfinger said in his own words he didn’t even want to sit down with Corker, while Corker wanted him at the table.

The giveaway in your text is this line:

“Note again, just the unions – everyone else got their couple of years.”

The stockholders get their cram down immediately, with the issue of warrants that dilutes their common stock value. The bond holders and other creditors get their cram down by 31 March 2009, the date that their debt must be reduced to 25 cents on the dollar.

kspencer December 12, 2008 at 6:01 pm

1) I apologize for misspelling Corker’s name.

2) Bondholders – not a cram down, an equity swap. There’s a bit of difference. That said, you’re right on the date while missing the main point. There had been a large number of agreements from many people to include the unions. In fact the unions had agreed to the cuts effective the end of their current contract. The Republicans had a large number of what they’d requested, and balked because they couldn’t get everything for which they’d asked. I stand by the core of my premise that in wanting it all they got nothing. If they had been surprised by the president undercutting their stand by offering TARP funds I might have been impressed by the stand on principle. As it is, I think they were stupid. We ended up with the automakers getting pretty much everything THEY wanted, and none of what the Republicans wanted.

IndyInjun December 12, 2008 at 6:13 pm

Kspenser –

You forget the Washington GAME, whereby the plan was always that the lame duck GOP POTUS would present the Christmas present, while his cronies get to point out that it is not THEY sticking us with the bill.

These con artists are slick like that.

They play the people against each other with party BS, then pick their pockets, with the Dems and GOPers alternating between the pick-pocket and the ruse.

This is just cover for the likes of Saxby to LOOK like they are anti-bailout, when the real bailout was the $700 billion whopper they voted for, not the paltry auto bailout.

The system is rotten to its very core.

Chris December 12, 2008 at 10:01 pm

Hopefully this will put an end to the influence of the Bush family and friends, who have derailed the GOP for most of the past 20 years.

Did you see the craptastic job Bush’s friends did for John McCain? If I didn’t know better I’d say they were instructed by W to throw the race to Obama so there could be a 24 year run of liberals in the White House.

USA1 December 12, 2008 at 11:16 pm

a 24 year run of liberals in the White House

More like an 89 year run.

Rick Day December 13, 2008 at 12:41 am

this.

It looks as if my work here is almost done.

Game Fan December 13, 2008 at 6:57 am

At least now the Republican yes men will get out of the way of Patrick Fitzgerald and let him do his job. At least a good portion will. And all this co-operation at the top with the insiders makes me want to puke. I’m not sure why so many conservatives would want to work with Obama. Then again, not sure where all these Republicans came from in the first place.

Icarus December 13, 2008 at 9:01 am

“It looks as if my work here is almost done.”

No. No. No. Don’t think of it as work. The whole point is just to enjoy yourself. — Otter

Icarus December 13, 2008 at 9:03 am

“Hopefully this will put an end to the influence of the Bush family and friends, who have derailed the GOP for most of the past 20 years.”

And did you see that Jeb has formed an exploritory committee for US Senate from Florida? Why can’t Arnold be a real terminator who can fight these menaces who keep reinventing themselves?

John Konop December 13, 2008 at 9:05 am

Fed Refuses to Disclose Recipients of $2 Trillion

Who does Bush work for?

(Bloomberg) — The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.

Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.

The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests. ….

http://www.bloomberg.com/apps/news?pid=20601109&sid=aGvwttDayiiM&refer=home

Icarus December 13, 2008 at 9:09 am

Who does Bush work for?

Not for me. I just fired him. (see above)

odinseye2k December 13, 2008 at 10:12 am

” a 24 year run of liberals in the White House”

Hey, I don’t suppose you remember those two guys named Al Gore and John Kerry? Those guys were from our team. Bush is one of yours. Every craptastic conservative idea (kill banking regulations, shift the tax burden to future generations and the middle class, ignore environmental standards, degrade labor via destruction of the NRLB as an independent body, deny global warming, let New Orleans pull itself up by its own bootstraps, promote democracy at the point of a gun, dominate the world for the sake of cheap oil and slave labor) save the FairTax was put forward by this guy and/or represented in his Cabinet. And said Cabinet members were allowed to push their own policies rather effectively. See Rumseld, Donald, and Cheney, Richard.

Only in a moment of desperation by Paulson (who as a Goldman Sachs guy probably does feel some small tinge of responsibility for keeping an economy together as well as pay off his friends) does it appear that the ball will survive to roll meagerly into Obama’s court.

But, when the conservative grassroots put ideology above people, pragmatism, and very frankly, reality, this is all what happens. And we liberals will be absolutely sure that everyone knows what colors the team that screwed the pooch quite gratuitously and gleefully were wearing while they did it.

IndyInjun December 13, 2008 at 10:23 am

Rick Day,

No, our work is not almost done. Saxby Chambliss fooled most of these idiots into allowing him to waltz back in with no GOP opposition, with their party leader actively discouraging any antiBush entry.

Now they are hell bent on doing the same for the other impostor, Isakson.

Some folks can truly be fooled all the time.

IndyInjun December 13, 2008 at 11:22 am

Icarus wrote”…… it will just get Indy Injun all lathered up again about the “fraudsters”

Indy is now in good company………read the article and LISTEN TO THE VIDEO.

http://www.cnbc.com/id/28179214

Chris Cox is another one of y’all’s boys!!!!

I was totally right all this time and the ones who didn’t listen have been burned.

Go on believing Pallin is your future..

HAHAHAHAHAHAHA

Game Fan December 13, 2008 at 11:35 am

Odinseye2k
I didn’t know you were a liberal. Of course some of us don’t equate criticism of Bush with being a liberal. We need more information to make that determination.

“let New Orleans pull itself up by its own bootstraps.”

Problem is, FEMA DIDN’T let the volunteers do anything. (stopped bottled water from Wal-Mart, prevented locals in fishing boats from rescuing people, holding people prisoner in the Superdome, taking peoples’ guns, being basically a bunch of bureaucratic incompetent police state JACKASSES, and of course the total incompetence of Michael “you’re doing a helluva job Brownie” Brown.

Game Fan December 13, 2008 at 11:50 am

Of course this isn’t to say that some of the folks in New Orleans didn’t deserve to win the Darwin award, but, that’s been addressed ad nauseam.
But, Michael Brown brings up the subject of total incompetence, lack of experience, and nepotism. Also, at the risk of violating Godwin’s law, the way these insiders rally around each other brings up the concept of fascism and, the possibility of a…
GAY MAFIA!!! (Hats off to Michael Savage for that one)

Game Fan December 13, 2008 at 12:18 pm

Indyinjun
So uh, which side are you on now? It’s no wonder Republicans are suspicious of the criticism. Did you wake up one morning and decide to join the Obamanation?

IndyInjun December 13, 2008 at 12:43 pm

GF

I am on the side of the PEOPLE, you know, the ones who have been conned and swindled by the folks Saxby represents.

I am a Republican BECAUSE… http://www.orgop.org/iamarepublicanbecause.aspx

See I KNOW what I am, but these other yokels seem to be terribly confused, as they have demonstrated by their votes.

If it becomes NECESSARY – IT HAS – to vote for the other party to clean out the fraudsters and con artists, so be it.

The conditions for being a Republican, I accept, all but one and that is the one calling for blind loyalty to a corrupt party.

boyreporter December 13, 2008 at 5:23 pm

All this stuff about the Bush family. Just remember: It’s a family where the smart one is named Jeb.

Game Fan December 13, 2008 at 5:56 pm

Well either boyreporter is on the same team as some of the more dumbed down Republican ass kissing rank and file, or…
It’s more likely he’s trying to use deceptive tactics here folks.

boyreporter December 13, 2008 at 7:21 pm

No, GF, just a little whimsy (see Arkansas, hillbillies, Beverly Hillbillies…Jeb…oh, never mind).

Doug Deal December 13, 2008 at 9:53 pm

Icarus,

I once proposed the Anti-Nobilty amendment. It simply states “No mother, father, brother, sister, daughter, son, first or second cousin, aunt, uncle, nephew, niece, grand-son, grand-daughter, wife or husband of anyone elected to Congress or the Presidency, confirmed to any exectutive department requiring Congressional approval, or who has ever served as a Federal Judge is forbidden from holding any office of trust under the United States.

I am tired of the little Emperor wannabees who’s sons, sons’ sons and sons’ sons’ sons all think they are entitled to office by birthright. Wasn’t that one of the points of the a certain document written sometime around 1776?

Icarus December 13, 2008 at 10:54 pm

Doug,

I missed that in my first read of “Wealth of Nations”, but I’ll look for it on my next pass.

Game Fan December 13, 2008 at 11:43 pm

I just hope people start connecting with some of the REAL sentiment out here: a.k.a. no more Bushes and no more Clintons, please. This concept isn’t difficult to figure out if you’re in tune with the public. Contrary to the talking points, the blogosphere has some real deal sentiment from the real world.

Game Fan December 13, 2008 at 11:48 pm

boyreporter
I figured your compliment toward “Jeb” was a little “tongue in cheek” as was my response.

Doug Deal December 13, 2008 at 11:55 pm

Icarus,

It’s on page 7.

Icarus December 14, 2008 at 8:02 am

That’s probably why I missed it. I don’t spend too much time on remembering reading material until I get to the centerfold.

Tea Party December 14, 2008 at 11:26 am

“And we liberals will be absolutely sure that everyone knows what colors the team that screwed the pooch quite gratuitously and gleefully were wearing while they did it.”

That’s jsut rich, and I do mean rich in a good, not gloppy, way.

Doug Deal December 14, 2008 at 12:36 pm

Icarus,

I think they air brushed Adam Smith a bit in that spread.

Game Fan December 15, 2008 at 2:20 pm

re:
“We Liberals”
Not sure why he embraced that term but as someone who’s old enough to have voted for Reagan once, I’m going with the “small govt.” concept as far as the “liberal vs. conservative” dichotomy goes. And as a “small government conservative” some of us aren’t about to let the neocons hijack the “conservative” banner. That wouldn’t be very “conservative”.

Chris December 15, 2008 at 4:15 pm

But GameFan, 9/11 changed everything!

The force exerted by the gravitational pull of the Earth is no longer 32ft/sec^2. Light no longer travels at 299 792 458 m/s. A year is now 284 not 365.25 days.

How can you deny this! 9/11 changed everything and now Government is the solution to all our problems. Why, I just burnt the chicken I was cooking for dinner, and the doorbell rang and there was Hank Paulson, bald head shining the sun, with a perfectly roasted bird for my family to eat.

Those dusty old theories of supply and demand don’t apply in the post 9/11 world, where at any minute 56 billion Muslims could detonate nukular weapons and wipe out the last vestiges of civilization: the swank restaurants K-Street lobbyists take members of Congress to.

The neo-cons will protect us. There hasn’t been a terrorist attack on the United States1 since we suspended the bill of rights like they told us to do.


1) Excluding acts of terror committed by the US Government on innocent citizens who were at the wrong place at the wrong time, who happened to be one digit off from a wrong address drug raid, or just happened to ask an annoying question of a political figure.

Icarus December 15, 2008 at 4:21 pm

Farris, I am truly shocked.

How can you stop to worry about the 56 Billion Muslims with nukular weapons when there are dudes right here in this country having butt sex?

Focus, man. Focus.

Doug Deal December 15, 2008 at 4:45 pm

Chris,

This will be the Congress that finally repeals the law of supply and demand. I am surprised the Supreme Court hasn’t already declared it unConstitutional and set pi to equal 3.

Icarus December 15, 2008 at 4:57 pm

3 is an “odd” number.

As such, the terminology is in and of itself discrimintory. No one wants an “odd” pi.

We need more pi. (President Obama, in one of his most famous speeches of all time, is pro-pi).

And pi should be even. Even denotes fairness.

And why would you, as a Republican, want to round pi down? Who are you trying to take pi away from? Probably the “working people”.

I say we need more Pi. Pi should be fair, thus even.

Pi = 4.

Now, isn’t everyone better off?

joe December 15, 2008 at 5:27 pm

Pi = 4 — sure makes cicles look odd. Maybe if you left Pi odd and rounded up to 5, the cirles woud be even.

IndyInjun December 15, 2008 at 5:36 pm

Rat, Ic, and Deal…..you guys are breaking me up…..

Doug Deal December 15, 2008 at 6:19 pm

4 means a “square wheel”, which rhymes with “square deal”, which proves it is fair for everyone.

Plus, since some area calculations use pi, a larger value means that there is more land for everyone. Like the minimum wage, pi has not kept up with inflation and hasn’t been changed in years. What a wonderfully progressive idea Icarus.

IndyInjun December 15, 2008 at 6:56 pm

How’s Sam Deal with his mug being on Peachpundit?

He should have pi(eed) on your shirt for this indignity.

Now he might end up in the clutches of the TMC.

Icarus December 15, 2008 at 6:59 pm

“Now he might end up in the clutches of the TMC.”

In the clutches? Take a look around. Who do you think is running this place?

Everything you see here is the product of a 1-year-old’s mind.

IndyInjun December 15, 2008 at 7:39 pm

Ah, the Sun of Sam has vast powers then.

Maybe he can compell his “Uncles” Icarus and Indy to send precious gifts, kind if like Ben Bernanke and Paulson.

Wow, Sun of Sam is GREAT.

All hail Sun of Sam, potentate of the TMC. Maybe he can do something about Aunt “Peachy.”

Icarus December 15, 2008 at 8:02 pm

“Maybe he can do something about Aunt ‘Peachy.’ ”

This is the south, where the proper thing to do is leave her on the front porch for all to see, but to pay her no mind.

Chris December 15, 2008 at 8:15 pm

Well, we shant talk about the Muslims having nukular butt-sex. They are undermining traditional arranged marriages.

Bill Simon December 15, 2008 at 8:25 pm

I think the number “4” is quite significant, especially in the world of Everything That Is Important To Icarus:

45 – 42

IndyInjun December 15, 2008 at 8:48 pm

Just as long as it doesn’t become “4 more years”…..of…well…anything.

Especially not Yellow Jackets atop the scoreboard.

That hurt, Simon. It really did.

Doug Deal December 16, 2008 at 9:50 am

Sam decided to chime in on the TMC, he typed “erjnoeqsarddddddddddddddddd”.

I am not sure what that means.

Anyway, why are we discussing such trifles when the world is lying in want of a preview for this coming weekends showdown in the finals of the fantasy football league?

Icarus December 16, 2008 at 10:11 am

We generally post these things on Tuesdays, when Icarus has the time.

Right now, he has a conference call to prepare for. Maybe after that, we’ll get up a post about the dangers of the insufferable Doug Deal potentially winning the Fantasy league.

Doug Deal December 16, 2008 at 10:26 am

Icarus,

You can try to beat back the tied, but you will fail.

Taft Republican December 17, 2008 at 8:19 am

Icarus and others – the excellent comments by Indy Injun aside, I absolutely DARE you to take 10 minutes of your obviously valuable time to get slapped around by THIS video.

I’m glad to see some Republicans actually starting to come around. Let’s hope it’s not too late to return the GOP to its roots.

Icarus December 17, 2008 at 8:43 am

“your obviously valuable time”

I’m just on my first coffee of the day, but I think I’m detecting a bit of sarcasm this morning.

I’ll see if I can work you in to my schedule for 10 minutes, however.

Icarus December 17, 2008 at 9:06 am

OK Taft, you got 10 minutes and 1 second of my valuable time.

Perhaps you’ve also had this experience:

You’re invited over to a friends house for “dinner” to meet a few of his friends, but when you get there, dinner is really cheese and crackers, and his other friends are the next people higher up in his AmWay pyramid. Not wanting to be rude, you spend the next three hours listening to people who you can tell are on the edge of sanity, but a lot of the things they are saying to justify your conclusion you know to be true.

Yet the facts that would get you from their analysis of the present (you can’t rely on social security for retirement, you can’t rely on a corporate job to last forever, you must take matters in your own hands by owing your own business) to the future (be independently wealthy, secure, fit, and healthy) don’t seem to add up, or are missing altogether.

That’s what I feel like with the followers of he who shall not be named. I don’t name him not out of disrespect for him, but I swear to God you guys have some sort of search engine that calls all followers to post whenever the crawler alerts to his wisdom from on high being challenged.

So, OK, I’ll give credit to him for calling out some potential problems that we’re experiencing. I still liken his solutions to putting a shotgun to the face and pulling the trigger to cure a headache.

Later today, I’ll be posting an actual solution to the problem I’ve been working on via e-mail with John Konop. He, like RP, also has been calling for a return to fiscal sanity since long before it was cool.

Unlike RP, John appears to live in the real world, (if you can consider Woodstock the real world). His solutions are practical, relatively easy to implement, and restore some common sense to our financial system without discarding both the federal reserve, worthless paper money, and most of the federal government (though we can leave the option open to work on some of the last part later).

Bill Simon December 17, 2008 at 9:13 am

I saw an Amway commercial last night promoting their online sites. SOMEONE must still be making money at that…

Is their detergent still the best because you only need a little bit? Their vitamins? What is my potential market for getting re-sellers below me?

Taft Republican December 17, 2008 at 2:54 pm

Icarus, eloquence aside, you’re a goof. RP *does* live in the “real world” — which is why his calls of what was coming down the road were “on the money” (pun intended), and why people who live in this fantasy (read: unconstitutional and anti-free market) world continue to think that if we somehow just stick to the same old crappy system we’ve been using for the last umpteen years (which got us into this mess in the first place), instead of returning to free markets and constitutional enumerated powers, we can “fix” everything with these mythical “actual solutions” that rely on the same miserable failed paradigms and presuppositions that brought us to this disaster, which grows worse by the day.

In fact, that’s not just called a “fantasy world” — that’s the definition of insanity, as I’m sure you know.

I love the fact that all I’m hearing all over the place nowadays — from talking-head pundits on financial news networks, to wish-they-were-famous bloggers on local-yokel WordPress websites — is, “OK, I’ll give credit to him for calling out some potential problems that we’re experiencing, but yada yada yada.” You can lead a horse to water, but you can’t make him think.

Bill Simon December 17, 2008 at 4:02 pm

Hey, Icarus! You should start a blog called TheDailyKeen.com

Icarus December 17, 2008 at 4:51 pm

Too close to Jerry.

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