Shortcuts

Connect with us on Facebook!
Subscribe.
[Feeds & Readers]
Follow us on Twitter!

Make us your home page!
Authors, sign in!

« Our Grief in Buckets | Main | Two Videos and Young Women »


Who Will Fight for the Middle Class?

By Lucy Belnora
January 17, 2008

Unfortunately, some of the presidential candidates seem satisfied with the current state of the economy. For example, Mitt Romney says that he doesn't see that there are "two Americas" and he sees that things are favorable for everyone. What? What planet is Romney from?

John McCain spent last week in Michigan (the state with the highest unemployment rate in the U.S.) telling Michiganders that the jobs that they have lost will not come back. He wanted points and accolades. He seemed to think that by delivering this dismal news that he would be seen as a trustworthy straight shooter. When asked what he could do to help Michigan with its economic problems, McCain recommended that the unemployed people go to community colleges and study science and math. What?

McCain wants 40-somethings and 50-somethings to go study math and science? I ask you, are there jobs in Michigan in math and science for people with a couple years of community college who previously had a successful careers in the auto business, a manufacturing business or other fields? Does he think that we're happy that all the good jobs have moved to China and India under his watch in the Senate? Which solar system is McCain living in?

Since this is an election year, the debate over how to stimulate the economy is inevitably tied up with politics. And here’s a modest suggestion for political reporters. Instead of trying to divine the candidates’ characters by scrutinizing their tone of voice and facial expressions, why not pay attention to what they say about economic policy? (Paul Krugman, Responding to Recession)

Stock markets got off to their worst-ever start this year, which is contributing to the darkening economic mood among voters, reaching an ever growing group of middle class citizens. Americans are more pessimistic about the housing market, the cost of gasoline and even the cost of food.

With plummeting home sales, oil near $100 a barrel, and slowing employment, the current economic environment is perilous for a growing number of Americans.

The unemployment rate jumped from 4.7 percent in November to 5 percent in December, the highest since November 2005 after the Gulf Coast hurricanes dealt the country a mighty blow. Payrolls — both private employers and government — grew by just 18,000 last month, the worst showing since August 2003, when the economy suffered job losses as it struggled to recover from the 2001 recession.

The December employment picture was much weaker than economists were expecting. They were forecasting the unemployment rate to bump up to 4.8 percent and for employers to add around 70,000 jobs to their payrolls. (Jobless Rate Hits 5 Percent, 2-Year High)

ABC/Facebook polls showed that "the economy" is foremost on voters' minds.

A new Washington Post-ABC News Poll this week shows that voters are the most concerned about the economy.

Nearly eight in 10 now think the country is "pretty seriously" off track. Two-thirds feel "strongly" that the next president should take the country in a different direction, and negative views of the Bush administration and the economy threaten to transform the presidential race.

In the new national poll, the economy-and-jobs issue ranks first for voters in each party, and majorities in each are pessimistic about the direction of the country, although there is a significant partisan divide. More than nine in 10 Democrats and eight in 10 independents see the country as on the wrong track; 51 percent of Republicans agree.

Now, 53 percent of Republicans want the next president to chart a new path; nearly three-quarters of independents feel "strongly" about it. Among Republicans who see the economy as a major voting issue, nearly two-thirds want a new direction.

When asked about their biggest financial concerns, 24 percent highlighted health-care costs, 23 percent mentioned inflation or rising prices generally, 16 percent specified gasoline prices, and 12 percent cited high taxes.

A surge in mortgage defaults is expanding the inventory of unsold homes and contributing to the decline in housing demand. The number of new foreclosures rose to a record in the third quarter and the number of Americans who fell behind on their mortgage payments rose to a 20-year high, MBA said last month. (Home sales seen bottoming)

The very newest Reuters/Zogby poll released just yesterday showed that barely more than one in five gave President George W. Bush's administration high marks for economic policy, and many voters thought they would be better off financially with a Democrat in the White House.

Some 47.5 percent of those surveyed think a recession is likely in the next year, up from 43.4 percent in the previous month's survey.

For the first time since the recession question was added to the monthly poll in September, more people said a recession was likely than unlikely.

Many economists think the U.S. economy is in or near a recession as the housing market downturn, tightening credit conditions, and steep food and energy costs drag down consumer and corporate spending. (Economic worries grow among voters)

My suggestion?

Vote for a candidate, like John Edwards (my personal favorite), who is not living on Pluto, who studies the economy and has made fixing the economy his number one goal.

John Edwards stands out in the crowd. He has always emphasized the importance of the middle class which is one of the many reasons why labor unions have given him so much support and endorsement. For example, he recently unveiled a stimulus plan grounded in detail and common sense.

A good stimulus plan should adhere to four principles:

  • stem the decline of home values,
  • ensure the stimulus contains immediate impact,
  • target the benefit to those recipients most likely to spend it, and
  • strengthen the economy in short-term ways that inure to America's long-term economic benefit.

By contrast, Republican candidates Mitt Romney, John McCain, and Rudy Giuliani seem to want the "free market" to continue to self-manage itself. What? Again, what planets are they from?

Sen. John McCain acknowledges, "The issue of economics is not something I've understood as well as I should. I’ve got Greenspan’s book.”

On the Democratic side, John Edwards, although never the front-runner, has been driving his party’s policy agenda. He’s done it again on economic stimulus: last month, before the economic consensus turned as negative as it now has, he proposed a stimulus package including aid to unemployed workers, aid to cash-strapped state and local governments, public investment in alternative energy, and other measures...

The Obama campaign’s initial response to the latest wave of bad economic news was, I’m sorry to say, disreputable: Mr. Obama’s top economic adviser claimed that the long-term tax-cut plan the candidate announced months ago is just what we need to keep the slump from “morphing into a drastic decline in consumer spending.” Hmm: claiming that the candidate is all-seeing, and that a tax cut originally proposed for other reasons is also a recession-fighting measure — doesn’t that sound familiar?

Anyway, on Sunday Mr. Obama came out with a real stimulus plan. As was the case with his health care plan, which fell short of universal coverage, his stimulus proposal is similar to those of the other Democratic candidates, but tilted to the right.

For example, the Obama plan appears to contain none of the alternative energy initiatives that are in both the Edwards and Clinton proposals, and emphasizes across-the-board tax cuts over both aid to the hardest-hit families and help for state and local governments. I know that Mr. Obama’s supporters hate to hear this, but he really is less progressive than his rivals on matters of domestic policy.

In short, the stimulus debate offers a pretty good portrait of the men and woman who would be president. And I haven’t said a word about their hairstyles. (Paul Krugman, Responding to Recession)

No matter who you vote for, please do not vote for any candidate from Pluto, like McCain or Romney. Those guys are in deep denial.

Vote for senators, representatives and presidential candidates that know the middle class is hurting - and, ones who intend to make it their highest priority to address the problem quickly. Ask them for specifics and expect them to speak in detail.

Now is not the time for broad brush "feel good" generalities.

Now is the time for concrete action-oriented leadership by people who have demonstrated their commitment to the middle class.


Comments (1)

d'blank Author Profile Page:

President Bush wants to put a $150 billion economic stimulation package into effect to ward off a recession. The money will likely be distributed in the form of small tax rebates (under $1000) to families with incomes below a certain level. The big debate is whether most of this money will get spent, which will stimulate the economy, or be saved (as was with the last such rebate) which will do little but add to the national debt.

We have our own plan, based on the following beliefs: 1) the nation’s physical infrastructure is in disrepair, and 2) every new job created will produce significant spending – well beyond the small handouts envisioned in the Bush plan.

Here is how it would work. First of all, ours is a two year plan that uses the same $150B budget. Half the money would be set aside for equipment and materials. The remaining funds, $37.5B per year for two years, would be used to create new jobs for people who would inspect and repair bridges, highways, parks, federal and state housing developments, and other public properties.

These funds would create nearly one million new jobs paying $17 per hour plus good health care benefits. That works out to about $34,000 a year – about average for an individual U.S. income and a heck of a lot better than stocking shelves at Wal-Mart.

And it’s nearly a million new jobs – that is an average of over 18,000 jobs per state. If they are prorated by population it will mean over 100,000 jobs in California, nearly 60,000 in New York, and nearly 35,000 in Ohio. An average sized state like Tennessee would get 18,500, but even smaller states like Nebraska and Mississippi would still get enough jobs (5,300 and 8,700 respectively) to make a difference. And for two years.

Instead of a hand-out, people get jobs. Instead of nothing but debt, the country gets much needed improvements. Instead of a momentary, low-rent shopping spree we get a million jobs and a boost to universal healthcare.

Which plan would you prefer – or perhaps you have one of your own?

Post your own comment

(To create links here or for style, you may wish to use HTML tags in your comments)


Our sponsors help us stay online to serve you. Thank you for doing your part! By using the specific links below to start any of your online shopping, you are making a tremendous difference. By using the links below, you are directly helping to support this community website:

Want to browse more blogs? Try our table of contents to find articles under specific topics or headings. Or you might find interesting entries by looking through the complete archives too. Stay around awhile. We're glad you're here.


Browse the Blogs!

You are here!

This page contains only one entry posted to Everyday Citizen on January 17, 2008 10:19 AM.

The blog post previous to it is titled "Our Grief in Buckets"

The post that follows this one is titled "Two Videos and Young Women"

Want to explore this site more?

Many more blog posts can be found on our Front Page or within our complete Archives.

Does a particular subject interest you?

You can easily search for blog posts under a specific topic by using our List of Categories.

Visit our friends!

Books You Might Like!

Notices & Policies

All of the Everyday Citizen authors are delighted you are here. We all hope that you come back often, leave us comments, and become an active part of our community. Welcome!

All of our contributing authors are credentialed by invitation only from the editor/publisher of EverydayCitizen.com. If you are visiting and are interested in writing here, please feel free to let us know.

For complete site policies, including privacy, see our Frequently Asked Questions. This site is designed, maintained, and owned by its publisher, Everyday Citizen Media. EverydayCitizen.com, The Everyday Citizen, everydaycitizens.com, and Everyday Citizen are trademarked names.

Each of the authors here retain their own copyrights for their original written works, original photographs and art works. Our authors also welcome and encourage readers to copy, reference or quote from the content of their blog postings, provided that the content reprints include obvious author or website attribution and/or links to their original postings, in accordance with this website's Creative Commons License.

Copyright, 2007-2011, All rights reserved, unless otherwise specified, first by each the respective authors of each of their own individual blogs and works, and then by the editor and publisher for any otherwise unreserved and all other content. Our editor primarily reviews blogs for spelling, grammar, punctuation and formatting and is not liable or responsible for the opinions expressed by individual authors. The opinions and accuracy of information in the individual blog posts on this site are the sole responsibility of each of the individual authors.