Congrats to BO on his relection, but now we must as a nation come together to solve this fiscal cliff that is approaching. There is so much animosity in DC, that I wonder if anything can get done. It is not a simple solution and it will take a person who has conviction, but is willing to compromise for the best of the nation. I really hope BO can be this person as he is the POTUS for the next 4 years. I have written in this blog before that the nation needs someone to take the fiscal reigns and make tough decisions about entitlements and taxes. I hope that BO and Congress will be up to the task. Hope springs eternal the day after election.....
Down the stretch they come.....
Well the debates are over and we are in the final two weeks of the campaign. I have been fascinated on how the fervor for this race has been very light for a presidential campaign. Maybe it has to do with the candidates or the very tentative nature of the economy. Maybe its the overexposure for this election since we start tracking the next POTUS race the day after election day. The debates were very entertaining and I was surprised how well Mitt did. Whether you like him or not, he definitely exceeded expectations. The last 2 debates definitely leaned to BO, but that was no surprise. I think Mitt does better when he is standing versus sitting (haha).
Anyway we have a post or 2 everyday up until election day. I am really interested how neither candidate has a serious and real plan to cut the deficit and one that COULD pass Congress. Pie in the sky plans are great for campaigns but do not help the American people have their government get back on track fiscally....
Oh Mitt....Oh Mitt...
Well in this day of omnipresent media people, Mr Mitt got burned bad this time. I think I am fairly balanced person and we all know that politicians pander to their audience for various different reasons, but people have to know whatever they say these could make it onto some website. Mitt is in a very precarious position as his campaign lacks focus and he always seems to step on his foot while speaking publicly or even in private. I have said this before and it bears repeating that both candidates and most importantly the challenger have run bad campaigns. Mitt has offered solutions that at best are not realistic and lack details. The POTUS is riding that wave of Mitt's imcompetency and a better campaign and convention.
If Repubs can not win this year, it is their own fault. Pandering to the wrong ideas and lack of focus on real deficit reduction and realistic ideas will be their downfall.....and Mitt......
...insert foot in mouth..
Downgrade, spending cuts......any good news? AHHH...QE3 maybe?
So as we approach the end of Friday here in the US, I can not help but read the news and get a little depressed...
Small rating agency Egan Jones downgraded US debt to AA- which could be the precursor to the larger agencies downgrading us. Our leaders do anything except grovel about how $100 billion of auto spending cuts will devastate the government but smart people must realize you have start somewhere. I would prefer an approach where people discussed alternatives and compromised, but that IS WAY too hard for these absentee politicians........BUT.......
QE3 is here.....yippeee....more government (sorry FED sponsored) priming and dollar killing monies being pumped into the system. I mean how much will it take until people realize that keeping zero interest rates and repeating the same measures will not change the problem. Until we have more certainty around the fiscal stability of our government, people will continue to hire slowly and the recovery will be less robust.
Maybe this weekend we can all send our politicians a note and say we are sick of being ignored...START WORKING FOR US AND FIXING OUR DEBT PROBLEMS!!
Back in the saddle......
Well I know it has been a while since I posted something. Part of me needed a recharge after the conventions and my overall view that both candidates are very mediocre...but onward and upward. Couple thoughts:
- So the awful news today about the Libyan ambassador being killed is horrible. Amazing how we help a country over through their dictator for FREE and they kill our ambassador. No good deed goes unpunished.
- Is this POTUS race boring? I can not even think of something exciting to right about except....
- IPHONE 5!!! One more row of icons and its thinner......DYNAMIC changes
- Gas is getting real expensive....yet no one is talking about that
More posts this week.....Happy thursday!
Billy the kid risis again.......and some other random thoughts
Bill Clinton is one of the best politicians alive. Last night during his speech he made the Republicans look like they were negative nellies and more importantly that all they do is say the POTUS is bad and don't propose any solutions. As I have stated before, BC brought up working together across the aisle when he was POTUS along with working together with former presidents etc. While all of this may not mean anything to fixing today's problems, he did echo my overall theme that BOTH parties need to work together for solutions instead of creating massive partisan divides in which nothing gets done. Billy the kid is pretty slick (no slick willie jokes), but he is also super smart and he realizes that the Repubs missed their chance at the convention to create that buzz and take the lead on the Democrats.
In the end, both choices in my view are not great. I agree and disagree with both people on many issues, but the person that succeeds to tell the American people the truth about the fiscal realities and propose plans that CAN be enacted in view will be the one who wins......
Big Week for POTUS.....
So as the Dem convention starts this week and the POTUS has a big task at hand. He has to convince folks that his vision for this country is the why people should re-elect him for 4 more years. I have written before that Mitt and the Republican's have made his task a lot easier by not making a clear case for change and reforms that are bold and can be paid for. BO will say that you are better today than you were 4 years ago which for many maybe true, but the overall sense of the country I feel is very anxious. We are spending money like a drunken sailor and the Fed cant lower interest rates any lower to stimulate growth.
Fundamental reforms are needed in government programs and both candidates,in my view, are not the people to make them. Neither are bold enough or can eschew the support needed, BUT it is BO's chance this week to make his case......let us hope the teleprompters work well on Thursday!
The Election,Mitt.....and of course Clint Eastwood
Well first any post today that does not include some mention of Clint Eastwood would not be right. I love him as an actor, but that was pretty funny last night. I know he was trying his best to be genuine, but it came off as slightly jaded and odd. But I do give him credit as he obviously has strong beliefs and that did come off in what he was saying...............................and NOW on to MITT.... Mitt had to hit a grand slam....and he did very well, but it was not that home run he needed in my opinion. His campaign up to this point has been scattered on the message and one speech can not make this ground up. Mitt and Ann Romney gave great speeches, but I am not sure whether it will connect with the undecided voters.
I hope Mitt and BO really get down to trying to solve issues and not just telling me why each other is bad. I keep going back to this point that this nation doesn't need partisan politics where no one wants to get something done. Passion for solving our nations problems will result in practical solutions and those persons who refuse to bend or compromise will eventually be sidelined.
Have a great Labor Day weekend and the posts will pick up post the Dem convention!!!!
Random thoughts...Airline seats
As I was perusing the news this morning, I saw that JetBlue and WestJet were shrinking coach seats by an inch to get 2 more rows of seats on certain aircraft. As someone who is taller than most (6'7"), I am not happy about this, but if I was being completely honest, this makes business sense. Flying already is a pretty painful experience with all the security checks, delays and crowded airports, HOWEVER airlines needs to be profitable. They need to make money and to be profitable similar to a food store making more shelf space to sell more products. If you do not like that food store, you can either accept it or go to another store. This is the same thing with airlines. Upgrade or change airlines if you do not like it. I do find it amazing that people complain about the cost of airline seats when you can fly across the country for $400 and you wonder why every airline goes bankrupt :)
Anyway, I am not saying you have to like being squeezed into a smaller seat, but just like food companies make smaller food boxes and sell it at the same price, airlines can and should do the same as they are FOR PROFIT companies.
Enjoy your Wednesday!
Taxes....the saga continues
The Republican party (since taxes are such a huge part of their platform) looks like there are finally making small steps on simplifying the tax code by eliminating from their platform to support the mortgage interest deduction. First, let me say I am not sure whether this is the right answer, but if both sides of the aisle don't agree on giving up something, we can never make any progress. The mortgage interest deduction is a huge tax break, that does to a degree encourage home ownership, but the Republicans can not have a platform in which you want lower marginal rates and still keep every deduction.
This blog always will support anything that makes the tax code simpler because it will encourage people to not try to "game" the system.
Comments? thoughts? more to come on taxes!
Todd Akin...QUIT!!!
Todd Akin should have resigned 5 minutes after saying that victims of "legitimate rape" rarely get pregnant. The comment is so wrong on so many levels. Its abhorrent and disgusting and he should resign his campaign immediately. How could any person say something like that, especially someone running for Senate?
Sorry, but this guy is a joke and I would prefer to spend time talking about more important topics, but felt the need to comment.
I am tired already....
I love politics and debating anything surrounding public policy, but I am a little tired of the presidential campaign right now.... This blog is about big ideas, solving big problems and being practical about compromising to solve these issues. I love that BO and MR have their own ideas about solving the problems, but both men's ideas will never pass Congress. Both are utopian campaign ideas that have some parts that could pass, but most of the packages never will. You are probably saying "That is what campaign's are for", but in this very partisan time, it would be great if a candidate would suggest ideas that ACTUALLY could pass Congress. I do not want either candidate to water down their beliefs, but being practical in my view would ring truer with the American people.
Happy Friday!
Amazing Read - Ray Dalio Principles
Ray Dalio, the founder and head of Bridgewater Capital (the largest Hedge fund in the world) has written down his management principles and some other color on principles he has. A very close person to me spoke about their experience at Bridgewater and the uniqueness of the culture at Bridgewater. These principles offer insight to that experience.....
http://www.bwater.com/Uploads/FileManager/Principles/Bridgewater-Associates-Ray-Dalio-Principles.pdf
Medicare....This is a tough one
Medicare is one of the most important government programs that exist today. It provides medical coverage to primarily our senior population. Since I have parents over the age of 65 and retired, the program provides them with most of the needed care they need as they grow older, along with the peace of mind that a medical issue will not bankrupt them. On the other hand, we know the program (like Social Security) will continue to explode in cost as the baby boomer generation retires, thus resulting in huge budget deficits. Paul Ryan has a plan that has been met with skepticism by the left and some on the right. His plan will NEVER be put in law because any plan will have to be a compromised and a PRACTICAL solution to the problem. I think having people suggest ideas is better than ignoring the problem. Whether you agree or disagree, a debate is better than no debate at all.
What we all can agree on in is that the program can not be sustained as is with the current taxes collected and expanding people moving into the system. We all know that there is huge waste in the system. How many people do you know laugh when one of their parents or relatives says they got a bill from a doctor for a Medicare reimbursement and the test cost $2,500 for something very minor.
These topics will dominate the next few months because of Paul Ryan's plan, but let us have an honest and thoughtful debate on the topic......
PS. Great Opinion write-up on Bloomberg today
http://www.bloomberg.com/news/2012-08-14/ryan-starts-a-great-debate-on-the-wrong-subject
Fix Social Security
We all realize that Social Security is already paying out more than it takes in. The "concept" that what I pay currently into the system is for me later in my life is a myth. The current taxes collected pay the current benefits which is fine, if the collections are greater than the payout. So how do we fix this? Some have suggested privatizing as an option (AN OPTION, NOT MANDATORY!!!), but to transition, it would take away too much of the current monies being paid out to beneficiaries. I do think the plan has some good ideas, but not practical at this point.
The real practical solution I believe is the following:
- Raise the retirement age. We are living longer than ever and the system can not afford to pay benefits based on when people lived a lot shorter
- Raise threshold on the social security tax which a cap that will provide the system with liquidity for years to come. As much as I hate this, when you have fewer people paying in and more people getting benefits, then this option must be seriously considered. THESE INCREASED TAXES SHOULD BE SET ASIDE AND ONLY USED FOR SS BENEFITS so the Congress doesn't just waste the money somewhere else.
People have suggested reducing or eliminating benefits for wealthy people. I think that option should be put forth, but will not move the needle much in the scheme of things.
While the above seems like a tax hike or making people work longer, it is a practical solution that would fix a large part of the problem. Extreme positions on both sides of the aisle will not fix anything, but push the program closer the edge of insolvency. I am open to BO, JB, MR or PR coming up with something that will pass Congress instead of utopian ideas that will never move forward.
Let's fix things instead of just talking about it!
Paul Ryan - Let the games begin
Finally Mitt Romney picked a VP candidate. I have been blogging about him waiting and waiting and he finally made his move. CONGRATS MR ROMNEY......now let's move on. Paul Ryan is a very controversial person because he put a budget plan out there for consumption. He also has many views that I disagree on the social side of the spectrum, but we will handle that later.
KEY POINT: Whether you agree or not with his plan, let's have a discussion about what his main point was that entitlements specifically Medicare if not reformed, will bankrupt the US. How we get there is something we should discuss and is open for debate.
Debate, discussion and communication is important to have an effective debate....LET THE GAMES BEGIN!!!
Happy Monday
The Post Office...imagine this was a real company
So the Post Office just posted a $5.2 bn loss (YES BILLION) for the 3 months ended on June 30th. How can this happen? Who is in charge? This is what drives me crazy about government. The post office for years has lost market share to Fed Ex, UPS and the internet etc, but has refused to change. They also are burdened with massive pension and medical obligations they can not fund. So what do we do....if we are the government, we suggest closing post offices, raising prices etc. But then every person in Congress gets upset they are closing their local post office or distribution plant, nothing gets done and the losses keep ticking. I realize that this maybe a tough pill to swallow, but we can not have everything anymore. The taxpayers are footing the bill for an enterprise that will lose billions this year. I also realize a lot of the losses are related to prepaying medical benefits, but the PO is still massively unprofitable.
My solution is cut service on Saturdays, close post offices, streamline operations and make a stamp price that allows the Post office to be profitable. If the price is too high then the Post office must realize that it may become obsolete. That is the way the cookie crumbles in capitalism. In the end, we will always have a Post Office, but when the American people are picking up the tab, we should care a little bit more....
PS: I do love forever stamps.....imagine a stamp that costs X and you can use it forever even when the price is 2X.....who would ever buy real stamps....(I feel like that was a Seinfeld joke)
I think I wrote about this weeks ago......hmmmm
Joe Scarborough, Co Host of the morning MSNBC program wrote a column (http://www.politico.com/news/stories/0812/79497.html?hp=r3) about the deficit of leadership in this campaign. I do appreciate when I am weeks ahead of a major article online, but I will stop patting myself on the back.
The core concept of this article I 100% agree with. Neither candidate seems to have the leadership and forward thinking views that we need for this country.
Unfortunately for Mitt Romney, he is the challenger, and the responsiblity is on him to produce a plan, vision and way forward to change the voting electorate to vote for him. That is just how it works and HE MUST start doing this, otherwise Republicans will look back and regret this election for years to come.
Show me your taxes!!!
Dear Mitt, Release your taxes. We know you are rich and you paid the lawful taxes that the IRS said you owed. Warren Buffet says we should pay MORE taxes, but he never volunteers or pays the US Treasury more.
We are going to find out eventually because the media will keep hounding you in this internet, twitter and overexposed age.
Focus on your message and being passionate about running for POTUS and not some dumb tax returns you can't change no matter what you say.
Regards,
StretchNelson
Romney VP...."WELL, we are waiting"
In the immortal line by Ted Knight in Caddyshack, he yells.."WELL, we are waiting...". This summarizes the Mitt Romney VP selection process. I have said before that Mitt needs to change the tone and direction of his campaign and what a better way than announcing your VP candidate to take the microphone away from BO. Mitt has already been losing the battle with BO on the themes and direction of the dialogue. Besides the convention and debates, this is one chance to focus the spotlight on himself. I hope he picks a dynamic, smart person to run with him because that would be the almost opposite of him (sorry Mitt, but start acting that way and I will take it back). I hope the choice is not a person who "fits" a need in some swing state.
He needs to go big and find someone who will transform the dialogue in his campaign!
More to come and apologies for the lack of posts....