Category: Political Economy

Botched Prescription?

In a boon for President Bush’s reelection chances, the GOP succeed in remaking Medicare. (At least the Dems can content themselves with defeating the energy bill.) To be honest, I haven’t been following this bill as closely as I should…I always get a bit annoyed when both parties prostrate themselves before the AARP, far and away the richest (and most likely to vote) portion of the electorate. In fact, the US spends 12 times more on its oldest, wealthiest citizens than it does on its children, even though kids are three times more likely to live below the poverty line. Hence, budget and deficit-busting prescription drug giveaways in the midst of child poverty…great investment.)

All that being said, Medicare is one of the foundations of the American social safety net, just as AFDC was until 1996, and as such this act is a biggie. Mickey Kaus of Slate seems to think the bill is actually good for Dems, while Urban Institute experts believe the back door to privatization is in fact only “window dressing.” But still, most Senators I trust came down against it (including John McCain, who railed against the giveaways to drug-makers in the bill.) And, while I still find it absurd that we’re giving prescription drug benefits to a select portion of the electorate before finding a way to insure every citizen, even paying lip service to the idea of privatizing Medicare does not seem a step in the right direction towards universal health care.

Finally, if this bill is so innocuous, why are the GOP so gung-ho for it? I hope it’s because they believe they wrested the Medicare issue away from the Democrats rather than due to any real movement towards privatization in the bill. Still, I fret. I mean, would you trust a prescription filled out by a cat-slaughterer?

Rough Trade.

So, unless Dubya capitulates to the WTO, it looks like his botched protectionist ploy for steel state votes is going to result in an all-out trade war with the EU. Nice going, y’all…exactly the type of leadership we’ve come to expect from the Bushies. My bet is they back down – After all, Florida orange-growers are a juicier segment of the electorate than West Virginia steelmakers.

A Line (and Figure) in the Sand.

By respective votes of 303-125 and 87-12, the Iraq funding bill passes the House and Senate. (In terms of the Dem contenders, Lieberman and Gephardt voted in favor of the bill, while Kerry, Kucinich, and Edwards did not.) So Dubya got his money this time…let’s hope it’s enough to get the job done. Perhaps it’s time for Congress to reconsider the Biden Amendment?

Nickle and Dimed.

Don Nickles calls it quits, putting his Oklahoma Senate seat in play for 2004. “A businessman before coming to Washington, he championed business’s causes, including tax cuts, deregulation, curbs on damages from lawsuits and opposition to minimum wage increases.” Apparently, he decided to quit after botching his coup attempt during the Lott affair last December. Can’t say I’m sorry to see him go.

The Riddle of Steel.


Not unlike most of the policies articulated by this administration, Dubya’s protectionist steel tariff has backfired in every way possible. “The strategizing was ‘too clever by half,’ [Bruce] Bartlett, the [conservative] economist, said. ‘It presupposed that nobody was watching what we were doing, and it presupposed that our credibility was of no importance.’” Sound familiar? But, hey, give credit where credit is due…under the Bushies, the rich are getting richer.

Powell Checked.

By a 55-to-40 vote, the Senate overturns Powell’s media ownership rules. Even if the Senate vote goes nowhere (and between the contentious House and a Dubya veto, that’s pretty likely), this should hopefully awaken Michael Powell to the fact that there is significant bipartisan resistance to his agenda of carte blanche deregulation. Instead of freeing the Big Boys from any entangling agreements, perhaps Powell should work on making them honor the agreements they’ve already made – namely, HDTV roll-out and public interest requirements. This isn’t about big government, it’s about getting our money’s worth. Since we’ve given the networks use of bandwidth valued at $70 billion, we have every right to expect something in return.

Hat in Hand.

While he’s still abusing the terrorism angle to hoodwink us on Iraq (As Howard Dean noted yesterday, the only indisputable thing Iraq has to do with terrorism is that we’ve now chosen it as the place where terrorists can attack us), Dubya at least admitted on nationwide television that unilaterally, we’re in over our head, which I suppose amounts to what alcoholics refer to as a moment of clarity. Yet, with the necessary Iraq funds — even lowballed as they are — threatening to blow the deficit to $525 billion, I do hope that the Bushies realize that the responsibility and sacrifice they’re expecting from the American people, our somewhat skeptical allies, and everyone but themselves in prosecuting this war should preclude any more discussion of a tax cut in the coming year. After all, why shouldn’t America’s wealthiest citizens also have to pay the heavy price for Dubya’s blundering, incompetent, and hubris-ridden diplomacy on the road to war?