Stand clear of the closing doors, please…Facing an uphill battle in their bid to privatize Social Security, congressional Republicans start contemplating a legislative exit strategy, which would probably include some concessions to a bipartisan plan. But the Dems, sensing the Clinton health care fiasco redux, may not play ball at all, with the exception of the usual “moderate” suspects. For the love of Pete, Senator Lieberman, please don’t give the Bush bill any of your patented Joementum.
Category: Dubyanomics
Class Dismissed.
“‘It’s a bill that’s going to significantly harm small consumers who want to hold large companies accountable for defrauding them,’ said Frank Clemente, director of the Congress Watch division of the consumer group Public Citizen.” So guess which side Dubya and the GOP were on? In the name of “tort reform” (and at the behest of their corporate overlords), the Senate GOP pass the Class Action Fairness Act, which moves state class action suits into the (less favorably disposed) federal court system. They did so after gunning down a series of Democratic amendments that tried to strike a more stable balance between private power and public accountability. Or would it have been too litigious to exempt cases brought by state attorneys general? We wouldn’t want some aspiring Mr. Smith cutting in to Old Man Potter’s profit margin, now, would we?
Hard Times.
With the Dubya deficit looming over the second term agenda (and it’s not going anywhere anytime soon) and the proposed Social Insecurity PSAs now costing trillions (per Vice-President Cheney), the administration releases a $2.57 trillion budget which “eliminates dozens of politically sensitive domestic programs, including funding for education, environmental protection and business development” and doubles the prescription drug copay for veterans. (America’s children and Armed Forces — our nation’s richest 1% thank you again for your sacrifice.)
Causing Deprivation.
I was at the movies during Dubya’s State of the Union address — I tried to watch it online this evening after my Radicalism sections, but Quicktime died in mid-sentence, so I just ended up reading it. And, while I thought it was very well-written as per the norm, my thoughts on the address have been colored even more than usual by the punditocracy. So, with that in mind, I’ll avoid being derivative and just direct y’all to the following:
- Fred Kaplan: “Some of the president’s statements on national security were simply puzzling. Again on Iran, he said, ‘We are working with European allies to make clear to the Iranian regime that it must give up its uranium-enrichment program and any plutonium reprocessing.’ This is just false.“
- Chris Suellentrop: “You could call Bush’s idea the Screw Your Grandchildren Act…This was the Greatest Love of All speech, in which Bush asserted that The Children Are Our Future. But before you sign on to Bush’s proposal, be aware that what he’s offering is pretty tough love.“
- Will Saletan: “Tonight’s State of the Union Address demonstrated again that President Bush is a man of very clear principles. He’s just flexible about when to apply them.“
- Joe Conason: “Although George W. Bush and the White House aides who craft these public spectacles become increasingly adept at manipulating the feelings of his audience every year, their underlying method remains the same: to shade inconvenient realities with rhetorical vagueness and outright deception.“
- E.J. Dionne: “Our country could profit from an honest debate about the future of Social Security. Judging from President Bush’s State of the Union address, that is not the kind of debate we are about to have.“
Snowe drifts.
With the Congressional battle lines forming over Dubya’s coming Social Security overhaul, Senate Finance Committee member and GOP moderate Olympia Snowe voices her doubts on CNN, which could greatly benefit Dems in defeating the plan (if we get our act together.) “Raising broad objections to the substance and presentation of the White House case, Snowe made it clear she is not convinced that a Social Security crisis has arrived, as Bush maintains…And Snowe said she is ‘certainly not going to support diverting $2 trillion from Social Security into creating personal savings accounts'” (although she is not averse to the principle of PSAs in general).
Freedom, Yeah!
“America’s vital interests and our deepest beliefs are now one.” Really? Well, dang, that was easy. But who’s going to break the news to China, Russia, and the Saudis, for starters? As per many of Michael Gerson’s Big-Moment speeches, Dubya’s Second Inaugural was a well-crafted piece of prose with some nice rhetorical flourishes and an eye to history. But, stylistic flair aside, Dubya might as well have been declaring himself the President of Mars, for all the grounding this speech had in contemporary reality.
“The best hope for peace in our world is the expansion of freedom in all the world.” Freedom…I can dig it. Reminds me of the end of Braveheart. But, as Slate‘s Fred Kaplan already aptly questioned, “What is this thing called ‘freedom’?…Does ‘freedom’ always mean a Western-style, or pro-American, democracy? Whatever freedom is, how do we go about spreading it?” And, for that matter, isn’t this the guy who once told us there “ought to be limits to freedom?”
I know we shouldn’t expect nuance from this president, but today’s speech was even worse than usual (as well as being somewhat distasteful, given the very real problems with “freedom” Iraq is facing right now.) The only things I learned from Dubya’s speech are that freedom rains down like a benediction (in fact, exactly like a benediction) on the peoples of the world, and, whatsmore, that evildoers hate them some freedom. And that was about it. Seriously, he sounded like he was kicking off that goofy rave in the second Matrix.
On the domestic side, I was somewhat surprised that Bush didn’t push the Ownership Society meme a little harder — he only mentioned it once — but I guess that’ll probably get more run in the upcoming State of the Union. (Perhaps he didn’t want anyone reminded of Colin Powell’s “You Break it, You Own it” Pottery Barn rule when they were supposed to be drinking in the sweet, sweet freedom.) That being said, Bush did manage to squeeze in some Grade-A chum for the pro-lifers — “always remember that even the unwanted have worth” — which he then half-heartedly tried to mask with a plea to end racism. (Freedom, yeah! Bigotry, no! Serenity now! I think I got it.)
All in all, the inaugural wasn’t an embarrassing speech as delivered — Gerson’s too good at his job for that. But, like too much in this administration, it was all style and no substance, offering false simplicity and sanctimony in the place of good ideas or hard-won truths. In short, it was just like Dubya.
The Other Shoe Drops.
Surprise, surprise. “The Bush administration has signaled that it will propose changing the formula that sets initial Social Security benefit levels, cutting promised benefits by nearly a third in the coming decades, according to several Republicans close to the White House.” Administration officials claim the deficit caused by this “price-indexing” change — pegging first-year benefits to inflation rather than the rise in wages — will be made up by, you guessed it, “personal investment accounts,” a.k.a. the Bush privatization plan. Funny how Dubya neglected to mention this cut only a few weeks ago…I doubt the plan was formulated over Christmas.
Preying on (Social) Insecurity.
Dubya starts the hard sell on his plan for privatizing Social Security, claiming such a move will reassure financial markets. “Mr. Bush never mentioned the near certainty that without raising taxes, which he has ruled out, any plan to add personal investment accounts to Social Security and improve its financial condition would include a reduction in the guaranteed retirement benefit.” Hmmm…that doesn’t sound very reassuring.
Careful what you wish for.
“Intent on using his capital to secure his place in history, Bush may finally pass a right-wing social agenda, an entitlement reform agenda and a neoconservative foreign policy…And by enacting his program, Bush may dash conservatives’ hopes for a lasting Republican majority.” With trouble already brewing among House conservatives, Columbia PhD, former FCC colleague, and Gipper scholar Matthew Dallek contrasts Dubya’s governance with that of Reagan, and finds the former wanting, to say the least.
The Teddy Bears’ Picnic.
By way of Follow Me Here, the chief economist at Morgan Stanley warns private audiences that, in his opinion, the US is headed for economic “Armageddon.” “In a nutshell, Roach’s argument is that America’s record trade deficit means the dollar will keep falling. To keep foreigners buying T-bills and prevent a resulting rise in inflation, Federal Reserve Chairman Alan Greenspan will be forced to raise interest rates further and faster than he wants. The result: U.S. consumers, who are in debt up to their eyeballs, will get pounded.”