She's Quick on the Trigger

With targets not much bigger than the president's deficit commission. I don't think I've ever actually READ anything by Sarah Palin, although I've seen her paraded before TV cameras, so it was with some interest that I noted "her" opinion column in the Wall Street Journal, Why I Support the Ryan Roadmap; Let's not settle for the big-government status quo, which is what the president's deficit commission offers.


I had expected a folksy take on the topic in keeping with her TV persona, perhaps sprinkled with homey references to Alaska wildlife, or more aptly the disappearing wildlife when Sarah Oakley has her high-powered rifle with telescopic sight at her side, but instead was greeted by a more or less professionally written piece of journalism, quite possibly with the help of the people at News Corp which owns the WSJ and also owns Fox which in turn employs Ms. Palin. She or her ghost writer is "disappointed" in the deficit commission's recommendations but commends the commission for exposing "the large and unsustainable deficits that the Obama administration has created through its reckless 'spend now, tax later' policies." I go speechless when reading such an accusation, feeling like Melville's Billy Budd confronting the evil Claggett. Sarah, do you really believe what "you" wrote? Not only are the deficits at least partially shared by your Party (not to mention the National Debt most of which could be pinned on the Bush era), but Congress now has the opportunity to roll back some of the tax forgiveness for the super wealthy, both in terms of incremental tax rates and the inheritance tax, and your Party is stonewalling that prospect. However, pardon my impertinence, "a man never trifles / with gals who carry rifles...Annie Get Your Gun.

Rebels Without a Cause?

It was a "chicken-run" by the Republicans and the Democrats, drag-racing to the edge of the Bush Tax Cliff as the sun was setting, but who really bailed out of the car and who remained will be revealed in two years. In the movie, the adversaries, Jim (played by James Dean) and Buzz, check out the abyss of the cliff before climbing into their cars:

Buzz: This is the edge. That's the end.
Jim: Yeah. It certainly is.
Buzz: You know something? I like you. You know that?
Jim: Why do we do this?
Buzz: You got to do something, now don't you?

And that seems to be the nature of the "deal" between the two parties: "You got to do something, now don't you?" On the surface, President Obama caved in. Someone had to and it was pretty clear the Republicans were prepared to fly off the cliff to preserve the precious Bush tax cuts for "everyone," especially for the wealthiest, the old Razzle Dazzle 'em of trickle-down economics.

We now continue the drag race to the same cliff in two years but this one also includes the Presidential election. If the "compromise" just further expands the deficit without creating meaningful jobs, the Democrats will blame the Republicans who will be left in the car. Of course the American people will be in the passenger's seat. "This is the edge. That's the end."

Dueling Headlines

No sooner after writing the last entry of this same date, these two headlines from AP accosted my in box:

AP Extended unemployment benefits for nearly 2 million Americans begin to run out Wednesday, cutting off a steady stream of income and guaranteeing a dismal holiday season for people already struggling with bills they cannot pay. Unless Congress changes its mind, benefits that had been extended up to 99 weeks will end this month

AP GOP says it'll block bills until tax cuts extended. "While there are other items that might ultimately be worthy of the Senate's attention, we cannot agree to prioritize any matters above the critical issues of funding the government and preventing a job-killing tax hike."

Translation: if the peasants have no bread, let them eat cake! Translation for "job-killing tax hikes" for those in the highest income bracket: trickle-down economics with no basis in fact.

This was exactly my fear after the mid-term elections: If the Republicans and Tea Partiers interpret their gains to mean they now have carte blanche to keep the Bush tax cuts for the highest wealth tier -- people who would not be hurt by some roll back to pre-Bush tax levels -- the result will only increase the deficit further.

More posturing at our country's expense.

Cheery Tidings from the Social Security Administration

For the second year in a row, this happy news from the SSA, received in the mail yesterday: "Your Social Security benefits are protected against inflation. By law, they increase when there is a rise in the cost of living. The government measure changes in the cost of living through the Department of Labor's Consumer Price Index (CPI). The CPI has not risen since the last cost-of-living adjustment was determined in 2008. As a result, your benefits will not increase in 2011."

What a country, retirees are protected from the ravages of inflation, and, better news, yet, there is no inflation! Hooray! There is certainly no inflation in interest rates from CDs, that's well documented. Thank you, The Federal Reserve!

Of course the SSA's Cola adjustments are made through the most bizarre calculation. Sounds like a lot of sleight of hand, but here is an explanation.

It is interesting to review how the CPI gets measured and how such measurements might distort what inflation seniors really face. According to Bureau of Labor Statistics Consumer Price Index the prices of certain items have actually declined over the last year, specifically Window Drapes (8.00%), Peanut Butter (5.10%), Bedroom Furniture (5.00%), Dishes (4.40%), and Sports Equipment (4.00%). But, with the notable exception of Peanut Butter which many seniors may have resorted to consuming, these items are probably not frequently among their purchases. On the other hand, let's look at some of the offsetting increases: Funerals +2.20%, Dental Services +2.80%, Nursing Homes +3.50%, Physicians Services +3.50%, Prescription Drugs +3.90% and Hospital Services +9.30%

No inflation for seniors? Ha. Also, for a quick peek into the future, let's review the past: According to the Bureau of Labor Statistics, the purchasing power of a 1984 dollar is now $.458 while a 1967 dollar is only $ .153.

No doubt entitlement programs need to be looked at along with taxes to get our fiscal house under control, but inflating away the dollar and playing shell games with Social Security is what happens when Congress cannot agree on anything and political posturing is all our representatives seem to be able to do. We've become a sound bite democracy.

Meanwhile, on another, but related topic, the essay du jour is Bill Gross' latest, with his conclusion saying it all: "The United States in short, needs to make things not paper, but that is not likely unless we see a policy revolution in Washington DC. In the meantime, our unemployed will continue to fill out forms and stand in line. We’re living here in Allentown."

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Happy Thanksgiving

A recent email exchange with my friend across the pond, Danny, in which I wished him a Happy Thanksgiving, reminded me that this is a uniquely American holiday (although he reciprocated the wishes with news about his growing family as well as noting the passing of people we both worked with -- we are of that age).

Yesterday's PBS broadcast of the New York Philharmonic's remarkable concert last March honoring Stephen Sondheim's 80th birthday is a joyous, American story. Sondheim has taken musical composition and lyrics to places no one could have imagined. I am grateful that we honor such genius in this country, even though his art is not main stream. Another gift he has given us is his recent book, Finishing the Hat. It is the story of his craft, brilliantly written (along with his lyrics), honestly presented, even self deprecating at times (but not often) along with his take on virtually every great participant in the American musical theatre, and he has known them all. Imagine if Beethoven took the time to explain his craft in his own words, but comprehensible enough for us mere mortals. But as I have not "finished" Finishing the Hat, more on that later.

And, although there is increased polarization in this country, at least we live in one of the few places where we can say what we think. But in the saying comes some responsibility and a friend of mine reminded me of that, criticizing my last entry, pointing out that liberal media, in spite of Fox News and other affiliated media , is still dominant in this country. That might be true, and I apologize to anyone I offend by anything I satirically write. However, exaggeration and sarcasm are the hallmarks of satire so some of what I say is not intended to be interpreted literally. Nonetheless, there are a plethora of views of our political system, and the economic paths we seem to be inexorably following, and thankfully in this country we can express those opinions.

Finally, to friends and family, both near and far, Happy Thanksgiving, my favorite holiday, a uniquely American one.


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All the News That's Feigned to Print

The Rupert Murdoch owned Wall Street Journal reported yesterday that the Rupert Murdoch owned HarperCollins Publishers will sponsor a 10-day book tour by their author, Sara Palin, who is a contributor to the Rupert Murdoch owned Fox News.

The occasion is the publication of her book "America by Heart: Reflections on Family, Faith, and Flag," a follow-up to her best-selling "Going Rogue." In addition to those credentials for her inevitable run for the Presidency, Ms. Palin is also the star of her own reality TV show, "Sarah Palin's Alaska." Her daughter Bristol is indirectly campaigning by her appearance on "Dancing With the Stars," another prime time "reality" media production.

In addition to those qualifications, Ms. Palin has a bachelor's degree in communications, having attended a number of colleges in the pursuit of that degree, was a TV newscaster, and served as a mayor of a town of some five thousand people and for a couple of years as governor of Alaska with a population about the size of El Paso, Texas. She resigned her governorship to pursue her interests in self-promotion.

Besides having Rupert Murdoch's News Corp empire as a backer, she owes her political career to John McCain who brought her to the national stage in a desperate act to carry the 2008 presidential election.

Can this "rogue" politician continue to skillfully manipulate public opinion by charisma alone and a friend in high places? And will she continue to supply News Corp with all the fodder necessary for higher ratings, greater circulation and therefore more advertising and sales? A nice symbiotic partnership? You Betcha'

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Get Over Your Junk

Get over it already! Having an implanted medical device for almost twenty years and having flown frequently both domestically and internationally during that period, I've had more pat downs than Tiger has had lap dances. Furthermore, having endured the indignity of backless hospital gowns and medical procedures on a number of occasions, my being naked on a faceless image of a body scan sure beats being blown to smithereens at 30,000 feet.

Amazing, this "outcry" against thorough airport screenings is exactly the kind of disruption terrorists want and the American public is buying right into it. Instead of just going through this in an orderly way to expedite the process, we conjure up images of our constitutional rights being violated. It will take only one tragic incident in the air to silence these critics, something they are inviting by their protests.

Do I think these rigid guidelines are the answer to combating terrorism in the skies? No, but they are part of a solution, and an easy one if everyone simply cooperates. Ten seconds in a body scanner is not too much to ask. Your "junk" is not so sacred. Stay home and never go to a hospital if you think it is.