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Progressive Politics in Minnesota, the Nation, and the World

The Market is Smarter than Congress

Category: Economy
Posted: 08/02/11 18:34

by Jim Dooley

Last week the pundits told us that Wall Street did not like the uncertainty about whether or not Congress would raise the debt limit by Feb. 2. Just look, they said, the Dow Jones average is dropping every day for five days in a row. Surely the markets would soar when the debt limit agreement is reached, and serious deficit reduction begins.

Ha! The Dow Jones fell 250 points after the deal was announced. The pundits are wrong again. Maybe the markets can see what our genius lawmakers can't. That the bipartisan "fix" is sure to make the economy worse. The GOP no tax increase position, even on oil company tax shelters and those at the very top of income earners, is ridiculous in every way. An all cuts deal is exactly the opposite of what the economy needs right now. Unemployment will get worse, tax revenues will go down, people will hurt, and the deficit will not improve. Investors are putting their money in Swiss francs and gold and silver, and running from the US dollar. Soon the cry will come to "throw the bums out!" as our political process has become the laughingstock of the world. The "bums" will be all right, they have government subsidized heath care, and many will go to work being pundits who call the next crisis incorrectly
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Rep. Garofalo: "Get Your Legislator Drunk Night"

Category: Pat Garofalo
Posted: 08/02/11 15:36

by Dave Mindeman

One of my favorite legislative targets is at it again. He posted this on Twitter (8/2):

PatGarofaloRep. Pat Garofalo (on Twitter)
Farmington has evil tradition of turning National Nite Out into "Get Your Legislator Drunk Nite". As usual someone else will drive me tonite.

National Night Out is not a joke or a means to "get your legislator drunk". National Night Out is a serious effort to prevent crime. They define their efforts this way:

NATIONAL NIGHT OUT is designed to:
?Heighten crime and drug prevention awareness;
?Generate support for, and participation in, local anticrime programs;
?Strengthen neighborhood spirit and police-community partnerships; and
?Send a message to criminals letting them know that neighborhoods are organized and fighting back.

I have my doubts that they encourage overindulgent drinking.

But then I guess Rep. Garofalo has his own ideas on NNO. Apparently getting out with the neighbors involves more than a few beers. Let's all be thankful that he is apparently using a designated driver.

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Cravaack Representation Has Unclear Dimensions

Posted: 08/02/11 00:54, Edited: 08/08/12 21:45

by Dave Mindeman

Who the heck is Chip Cravaack (R-MN/NH) representing?

I don't mind the fact that he voted against the debt ceiling bill...heaven knows there is plenty to find wrong with it. But to find himself voting on the opposite side of both John Kline and Erik Paulsen is hard to figure. If you're rationalization is be farther to the right of an issue than John Kline, you are in unique territory (actually Michele Bachmann territory, which indeed is unique).

Cravaack, in theory, is voting against the bill because it doesn't go far enough in cutting. Apparently, US debt default was incidental in the equation because he was willing to let it happen.

I guess Cravaack thinks he can play some kind of odd middle ground here. To quote a Cravaack fundraising appeal:

So now, I'm in a bit of a pickle. Big Labor Union Bosses, MoveOn.org, and other liberal special interests are increasing their attacks against me. Meanwhile the Republican establishment in Washington isn't happy that I stood on principle.

Seriously? You think thats going to work?

Sorry, Chip, you aren't in "centrist" territory. This vote isn't fooling the left, the right, the center, or that crazy place where Bachmann is. I doubt even you can keep voting in the realm of Bachmannistan.

You seem to be representing P.T. Barnum type circus territory. It sure isn't Minnesota.

By the way, how are things in New Hampshire?
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