"I want to just take a moment to thank the Teabaggers. Thank you so much for helping us pass health care [and] for resurrecting the Obama presidency. I know they're saying, 'Why are you thanking me? I was so against it---I marched on Washington with tea bags hanging off my Founding Fathers costume with a gun on my hip and a picture of Obama dressed as Hitler, screaming about his birth certificate.' And America saw that and said, 'I think I'll go with the calm black man.'" Bill Maher
Last week, billionaire CEO David Siegel, who runs a timeshare empire, threatened to fire employees if President Obama is reelected in November, saying in an email, “the economy doesn’t currently pose a threat to your job. What does threaten your job however, is another 4 years of the same Presidential administration.”
And Siegel is not alone in pushing his employees to cast their vote a certain way. MSNBC’s Chris Hayes reported today on another CEO — Arthur Allen of ASG Software Solutions — who said in an email to his employees that they’d only have themselves to blame if they lose their jobs if Obama wins. The email reads, in part:
Many of you have been with ASG for over 5, 10, 15, and even 20 years. As you know, together, we have been able to keep ASG an independent company while still growing our revenues and customers. But I can tell you, if the US re-elects President Obama, our chances of staying independent are slim to none. I am already heavily involved in considering options that make our independence go away, and with that all of our lives would change forever. I believe that a new President and administration would give US citizens and the world the renewed confidence and optimism we all need to get the global economies started again, and give ASG a chance to stay independent. If we fail as a nation to make the right choice on November 6th, and we lose our independence as a company, I don’t want to hear any complaints regarding the fallout that will most likely come. [...]
I am asking you to give us one more chance to stay independent by voting in a new President and administration on November 6th. Even then, we still might not be able to remain independent, but it will at least give us a chance. If we don’t, that chance goes away.
Watch Hayes’ report:
In These Times also reported today that a company owned by billionaire right-wing activists David and Charles Koch sent pro-Romney mailers to its employees. The mailer gives a veiled warning that, if Obama is reelected, “then many of our more than 50,000 U.S. employees and contractors may suffer the consequences, including higher gasoline prices, runaway inflation, and other ills.”
What do all the whiny two faced elitist billionaires in this news have in common? They have historic levels of wealth. They have more wealth than kings of old monarchical Europe and Asia. Yet they are complaining about what? That they want more, they must have more and if they do not get more it is the end of the world as we know it. They're worried more about inflation than creating jobs. They're worried they might have a little less power if we have Supreme Court that says corporations are not people. If right now, the USA is such an awful place, why don't they pack up and move. Their combined wealth they could certainly buy their own country.
Marc Leder, a wealthy investor, played host to Mitt Romney last May at a private fundraiser at his $4 million home in Boca Raton. Little did Leder know at the time, however, that someone would videotape the event and later leak it to the world, revealing the GOP standard-bearer in the act of caustically dismissing 47 percent of the country as too “dependent upon government” even to consider voting for him this year.
Leder attempted to duck the ensuing storm of media attention, telling Fortune that he had simply “hosted a fundraiser for an old friend.” But Leder’s ties to the candidate run deeper than campaign contributions or an old friendship. As an investor, he is part of a network of links to the Romney family business empire that will acquire enormous relevance if the GOP nominee manages to ascend to the White House.
In 2008, soon after Romney ended his first bid for the presidency, his eldest son Tagg and his chief fundraiser, Spencer Zwick, formed Solamere Capital, a private equity firm named after the exclusive community in Utah where Romney owned a vacation ski lodge.
What Tagg lacked in experience in the world of high finance, he made up for with a vast network of political connections forged through his father, who seeded the firm with $10 million and was the featured speaker at its first investor conference in January of 2010. Romney also reportedly gave strategic advice to the company, which secured prominent campaign donors as some of its first investors.
Unlike most private equity firms dedicated to analyzing and buying companies, Solamere specializes in something else: billing itself as a “fund of funds” with “unparalleled networks,” it provides investors with “unique access” to an elite set of other private equity firms and hedge funds. Sun Capital Partners, the fund founded by Leder, is one of at least thirteen Romney-linked firms in Solamere’s network, according to a prospectus circulated among potential investors and uncovered by The Boston Globe last year. Solamere also has an investment relationship with Bain Capital, the pioneering fund founded by Mitt Romney.
Solamere, a firm predicated on its founders’ relationship with Romney, presents a channel for powerful investors to influence the White House if he wins. Private equity executives looking to lobby a Romney administration may very well have a leg up if they are already doing business with the firm that the president created for his son.
Requests for comment from a Solamere representative for this article were not answered.
The looming conflicts range from general matters that affect all private equity firms—such as tax changes or the new rules mandated by the Dodd-Frank financial reform bill—to more specific concerns relating to businesses owned or controlled by Solamere’s partner firms. Many of these businesses, in fact, depend on government contracts; indeed, some have been accused of fleecing taxpayers (which is ironic given that many private equity titans claim to support Romney for his unabashed belief in small government and free enterprise). A Romney administration could directly affect the profitability of these companies—and, by extension, potentially the success of Tagg’s venture.
“It’s absolutely a conflict of interest,” says Adam Smith, the communications director for the group Public Campaign, which works on issues concerning money in politics. “Romney can’t un-know that his son’s investment company could benefit financially from his policies. And the other investors—many of whom are likely Romney campaign donors—will have extra access and influence in a Romney administration.”
* * *
Take Leder, Romney’s Boca Raton host, whose Sun Capital firm bought a stake in the Scooter Store last year. The company, known for its ubiquitous television ads promising seemingly free motorized wheelchairs for Medicare beneficiaries, has struggled as the Centers for Medicare and Medicaid Services, the federal agency that governs the programs, implements rules to curb rampant billing fraud. As a CMS report noted last year, 80 percent of the claims for scooters and power wheelchairs did not meet Medicare requirements, meaning that $492 million a year is being improperly spent.
In 2007, the Scooter Store gave up $13 million in Medicare payments and paid $4 million to settle with the Justice Department over allegations that it had overbilled for its electric wheelchairs. The company, which has been bleeding money over the years as regulators moved to curb waste, still faces challenges that could make or break its business model—challenges that could be mitigated by pressure from the executive branch.
A Romney administration, for example, would have a role in the fate of a recently launched pilot program ensuring that patients see a doctor face to face to determine if a Medicare scooter is medically necessary—a program that has reportedly already reduced billings to the Scooter Store. Another challenge for the company is Section 3136 of the Obama administration’s Affordable Care Act. If Romney wins and repeals significant portions of the ACA, would he retain this provision, which compels Medicare to have a competitive bidding process for motorized wheelchairs?
Leder, who has donated nearly $300,000 to Romney and other Republicans in this campaign and another $225,000 to a pro-Romney Super PAC, didn’t respond to a request for comment. Disclosures, however, suggest that pressuring the government is the only way his investment in the Scooter Store can turn a profit.
Since Leder’s firm invested in the Scooter Store, the company has spent nearly $900,000 on lobbyists to push back on these two latest challenges to its motorized-scooter empire. Lobbyists not only try to influence legislation; they are also paid to gather information. Tips about government regulatory decisions can be as good as gold to investors who can act before the information is public knowledge. But what if the company had the ultimate lobbyists: the president’s oldest son, brother and personal fundraiser?
The Birth of Solamere
Shortly after his father conceded the Republican nomination to John McCain in 2008, Tagg Romney and Spencer Zwick went to dinner at a San Diego resort with John R. Miller, the CEO of National Beef Packing Company. The pair had a proposition for Miller: that he should invest in their new business venture.
Miller, who has served as a top fundraiser in both of Mitt Romney’s presidential campaigns, signed on and even became an operating partner at Solamere. The scene, recounted earlier this year by The New York Times, is one of the precious few details made public about Solamere’s investment portfolio and client list, both of which are kept secret.
What is known has been drawn largely from a trail of documents filed by the investment group. Records indicate the firm was incorporated at the same Boston office where Romney’s campaign headquarters had been located, and later shared an office address with Romney’s PAC.
Zwick first worked for Romney during the Winter Olympics in Salt Lake City. A student at Brigham Young University at the time, he has been at Romney’s side ever since, serving on his campaigns, working as an aide and leading his fundraising efforts since 2007. He has been referred to as Romney’s “sixth son.” And by all accounts, he’s one of the most trusted advisers in Romney’s circle. “When you’re talking to him, you know he’s got the ear of the candidate,” one Romney donor remarked to the press.
Two weeks after Romney’s concession speech in February 2008, Solamere Capital registered with the State of Massachusetts. Zwick and Tagg joined with Eric Scheuermann, a former Jupiter Partners executive, as the three managing partners of the firm.
Scheuermann was the only one with prior experience in private equity; Zwick had none, and Tagg’s previous experience ranged from working at the Monitor Group, an international consulting firm, to sports marketing jobs with Reebok and the Los Angeles Dodgers.
However, success for the firm seemed preordained. A press release the following year hinted at the type of assistance Solamere was enjoying from the Romney network. It announced that Lee Scott, the former Walmart CEO, was joining the firm as an operating partner. Eric Fehrnstrom, Romney’s longtime press aide, was listed as the contact name on the release. The former Walmart chief’s entry came after G. Scott Romney, Mitt’s brother, signed up as an adviser with the firm. So did Matt Blunt, the former Republican governor of Missouri.
Solamere surpassed its $200 million fundraising goal with help from an elite set of “high net worth” individuals, many of whom are close Romney allies. Meg Whitman, the former eBay executive, current Hewlett-Packard CEO and Republican gubernatorial nominee in California two years ago, invested with Solamere (and her son scored a job at the firm). Two Romney donors, L. Scott Frantz, an investor and Connecticut state senator, and Mark Chapin Johnson, the CEO of a medical supply company, were also among the sixty-four investors to entrust Solamere with their money.
As a managing partner of Solamere, Tagg stands to make millions of dollars. The three managing partners will receive $16.8 million in management fees over the first six years, as well as “performance-based incentive” pay, according to a filing with the Securities and Exchange Commission.
Little is known about the exact investment decisions at the firm. A tax return filed by Mitt and Ann Romney, made public in September, showed that Solamere has used an array of Cayman Islands entities to reduce its investors’ tax liability on its income. Rebecca Wilkins, a tax expert with Citizens for Tax Justice, says that Solamere likely uses “blocker corporations” to help its tax-exempt investors avoid paying the unrelated business income tax.
It seems that Tagg has taken after his father, whose former firm Bain Capital also uses these offshore structures. Most of the offshore entities do not have to file a tax return in the US or anywhere else in the world, making them an ideal shelter for Solamere’s investors, says Wilkins. “To me, the most egregious part of this is that they’re facilitating tax evasion.”
A complaint filed in August with the US Office of Government Ethics argues that Mitt Romney’s investment portfolio violates the Ethics in Government Act because so much of his money rests in opaque funds, like private equity firms and limited partnerships. The law states that presidential officeholders must disclose their investments and their investments’ underlying assets worth more than $1,000. The law, however, carries an exemption for qualified blind trusts.
In June, the Romney campaign announced that if he’s elected, the candidate would move his assets into a federally qualified blind trust, and would also likely sell off any assets that “are not fully compliant with federal disclosure and other rules applicable to the office of the presidency.” But if Romney wins, there’s almost no chance that the underlying assets of his son’s firm, Solamere, will be revealed. Solamere could have assets involved in healthcare, energy, telecommunications or any number of other industries, but the public will be left in the dark.
According to Republicans they're all risk takers that build stuff. Pull back the curtain and they're just mostly lazy pigs feeding at the trough.
At The Vice Presidential Debate: Ryan Told 24 Myths In 40 Minutes. Ryan arrived thinking that it was not a debate, but a race to see how many falsehoods and bizarro conservative talking points he could spew. Ryan should not be vice president or a congressman or allowed anywhere near government. He is barely qualified to walk a dog much less govern this great country.
Beware: Paul Ryan will appear affable. He’s less polished and aggressive than Romney, even soft-spoken. And he acts as if he’s saying reasonable things.
But under the surface he’s a rightwing zealot. And nothing he says or believes is reasonable – neither logical nor reflecting the values of the great majority of Americans.
Your job is to smoke Ryan out, exposing his fanaticism. The best way to do this is to force him to take responsibility for the regressive budget he created as chairman of the House Budget Committee.
Ryan won’t be able to pull a Romney — pretending he’s a moderate — because the Ryan budget is out there, with specific numbers.
It’s an astounding document that Romney fully supports. And it fills in the details Romney has left out of his proposals. Mitt Romney is a robot who will say and do whatever he’s programmed to do. Ryan is the robot’s brain. The robot has no heart. It’s your job to enable America to see this.
I suggest you hold up a copy of the Ryan budget in front of the cameras. You might even read selected passages.
Emphasize these points: Ryan’s budget turns Medicare into vouchers. It includes the same $716 billion of savings Romney last week accused the President of cutting out of Medicare – but instead of getting it from providers he gets it from the elderly.
It turns Medicaid over to cash-starved states, with even less federal contribution. This will hurt the poor as well as middle-class elderly in nursing homes.
Over 60 percent of its savings come out of programs for lower-income Americans – like Pell grants and food stamps.
Yet it gives huge tax cuts to the top 1 percent – some $4.7 trillion over the next decade. (This is the same top 1 percent, you might add, who have reaped 93 percent of the gains from the recovery, whose stock portfolios have regained everything they lost and more, and who are now taking home a larger share of total income than at any time in the last eighty years and paying the lowest taxes than at any time since before World War II.)
As a result it doesn’t reduce the federal debt at all. In fact, it worsens it.
On top of all this, Ryan is on record – as is Romney – for wanting to repeal both ObamaCare (taking coverage away from 30 million Americans) and the Dodd-Frank law (thereby giving cover to Wall Street).
Your challenge will be get this across firmly and clearly, with an appropriate degree of indignation – on a medium that rewards style over substance, glibness over detail, and optimistic happy talk over grim reality.
My suggestion: Be cheerfully aggressive. Take Ryan on directly and sharply but do so with a smile. Force him to take responsibility for the regressiveness of his budget and the radicalism of his ideology.
Prepare your closing carefully (unlike the President seemed to have done last week), and tell America the unvarnished truth: Romney and Ryan plan to do a reverse Robin Hood at a time in our nation’s history when the rich have never had it so good while the rest haven’t been as economically insecure since the Great Depression.
Their agenda is all the more remarkable in that we have a growing budget deficit to deal with, along soaring healthcare costs and aging boomers without enough to retire on because their net worth went down the drain with their homes.
The fundamental question is whether we’re still all in it together – whether as American citizens we continue to have obligations to one another to assure equal opportunity and help for those who need it – or we’re on our own, without a common bond or a common good. Romney and Ryan represent the latter view, a view utterly at odds with what we have accomplished as a nation.
This work is licensed under a Creative Commons License
Robert Reich, one of the nation’s leading experts on work and the economy, is Chancellor’s Professor of Public Policy at the Goldman School of Public Policy at the University of California at Berkeley.
If conservative plans for the economy, education, foreign policy, the environment, climate change ( or lack there of) are so wonderful how come conservatives cloak those radical anti-American plans in clouds of double-talk and code words. They're afraid that Americans will see the truth about how radical and utterly devoid of American values those plans are and not vote for them. Romney and Ryan are stealth candidates, trying to portray their deeply anti-progress positions as moderate. Biden and America should not let these wackos get away with such atrocious dishonesty and treacherous agenda.
IT IS BOTH a pundit’s truism and a mathematical reality that Mitt Romney’s path to the White House runs through Ohio. And that path, in turn, runs through a firm called Murray Energy.
Over the years, CEO Robert Murray has brought in GOP pols from as far away as Alaska, California, and Massachusetts for fund-raisers. In 2010, the year John Boehner became House speaker, the firm’s 3,000 employees and their families were his second-biggest source of funds. (AT&T was in first place, but it has nearly 200,000 employees.) This year, Murray is one of the most important GOP players in one of the most important battleground states in the country. In May, he hosted a $1.7 million fund-raiser for Romney. Employees have given the nominee more than $120,000. In August, Romney used Murray’s Century Mine in the town of Beallsville for a speech attacking Barack Obama as anti-coal. This fall, scenes from that event—several dozen coal-smudged Murray miners standing behind the candidate in a tableau framed by a giant American flag and a COAL COUNTRY STANDS WITH MITT placard—have shown up in a Romney ad.
The ads aired even after Ohio papers reported what I was told by several miners at the event, a bit of news that an internal memo confirms: The crowd was not there of its own accord. Murray had suspended Century’s operations and made clear to workers that they were expected to attend, without pay. “I tell ya, you’ve got a great boss,” Romney said in acknowledging Robert Murray from the stage. “He runs a great operation here.”
The accounts of two sources who have worked in managerial positions at the firm, and a review of letters and memos to Murray employees, suggest that coercion may also explain Murray staffers’ financial support for Romney. Murray, it turns out, has for years pressured salaried employees to give to the Murray Energy political action committee (PAC) and to Republican candidates chosen by the company. Internal documents show that company officials track who is and is not giving. The sources say that those who do not give are at risk of being demoted or missing out on bonuses, claims Murray denies.
Republicans claim that anyone who belongs to a union is a thug. Unions have a lot of catching up to do to be as big a thugs as businesses run like Antebellum plantations such as Murray Energy.
At last week’s presidential debate, Mitt Romney floated like a butterfly and stung like a bee.
He punched and parried, feigning the great Muhammad Ali.
Any likeness between the two is, however, mere illusion. America has seen victory by Muhammad Ali. America worked through disputes with Muhammad Ali. Now America admires Muhammad Ali. And Mitt Romney is no champion. Instead, Romney's a magic man. He employs sleight of hand. He uses smoke and mirrors to confuse and obscure. Unlike President Obama, Mitt doesn't do math. He performs tricks, sorta like Muhammad Ali said in his rhyme – Now you see severely conservative Romney, now you don’t. The GOP nominee asks Americans to engage in magical thinking – to believe his hocus-pocus is not just a stage show but will actually painlessly solve problems.
Last week, Romney promoted his magic show during the debate. He promised his performance as president would be fabulous, stupendous, unprecedented! He bragged [2]:
“My plan is not like anything that’s been tried before.”
Specifically, he was talking about his tax plan. Romney has pledged to reinstate the Bush tax cuts [3] should they expire at year’s end as scheduled, then further slash income taxes by 20 percent for everyone [4]. Also, Romney has vowed to eliminate and cut other federal taxes [3], including the estate tax.
Here’s the part where Romney promises to accomplish something never done before: he says he’ll slash and burn all these taxes but not add a dime to the deficit or to the tax burden of the middle class. When Ronald Reagan made a similar promise, George Bush I called it voodoo economics. George Bush II tried this magic trick and failed. Bush gave everyone, particularly the rich, tax breaks. Then the federal deficit skyrocketed. To quote a bumbling former Republican presidential candidate, “Whoops.”
Romney says that won’t happen when he performs as president. He’s too good. The illusionist swore to the nation Wednesday night [2]:
“My, my number one principal is, there will be no tax cut that adds to the deficit. I want to underline that: no tax cut that adds to the deficit.”
He hasn’t specified how he’d accomplish that because, as you know, magic tricks are proprietary secrets. He’s offered a couple of enticing tidbits, however.
One is that he’d close tax loopholes and deductions to recoup income lost because of all those tax cuts. But he won’t say which ones [5] because, again, those proprietary magic secrets.
The nonpartisan Tax Policy Center (TPC) analyzed Romney’s proposal and concluded it didn’t add up – even when they gave him lots of breaks because his plan is clandestine. To get back $1 from closed loopholes for every $1 in tax cuts, the TPC determined that Romney would have to eliminate breaks favored by the middle class, [6] such the mortgage deduction. And that means Romney’s plan would cost middle class families an additional $2,000 a year on average [7], the TPC said.
Still, Romney assured the American people last week [2]:
“I will not, under any circumstances, raise taxes on middle-income families. I will lower taxes on middle-income families.”
Abracadabra!
Romney insists his bag of tricks contains one that will enable him to defy the math of the TPC economists, who served in both Republican and Democratic administrations [8]. One way would be to do what Bush did, just cut taxes and increase the deficit. Romney contends that’s not in his repertoire: [2]
“I won't put in place a tax cut that adds to the deficit. That's part one. So there's no economist can say Mitt Romney's tax plan adds $5 trillion if I say I will not add to the deficit with my tax plan.”
Nobody can say it if Mitt Romney says they can’t! He dismisses pesky economic experts with a wave of his magic wand.
Just as he’d heal the budget, Romney would patch up the nation’s health care system -- with pixie dust.
First, he says he’d repeal Obamacare on day one [9]. Second, he told debate listeners: [2]
“What I support is no change for current retirees or near-retirees to Medicare.”
Logically, or mathematically, or realistically, that won’t work. As of August, 5.4 million seniors had saved $4.1 billion [10] on prescription drugs, about $768 each, because Obamacare closes the Medicare prescription plan donut hole. And, under Obamacare, this year more than 18 million Medicare recipients [10] received at least one preventive service for free. Killing Obamacare would mean seniors would have to pay those costs once again from their own limited funds. This would be a costly change to Medicare for current retirees and near-retirees.
Also, Obamacare extended the life of Medicare by eight years. [11] It did so by reducing payments to medical facilities by $716 billion over a decade, reductions accepted by the providers when the law was negotiated. [12] Romney says he will eliminate the savings to Medicare and give those payments to the medical facilities. [2] That, logically, would snuff out the life of Medicare eight years earlier, which would be a tragic change to Medicare for current retirees and near-retirees.
But, you know, presto-chango, Romney says it ain’t so.
Many aspects of Obamacare are beloved by those who have benefitted, including extending coverage for young adults on their parents’ plans, eliminating coverage caps and instituting rebates when insurers charge too much. But perhaps the most important Obamacare protection was the specification that insurers can’t deny coverage to people with pre-existing conditions. Repealing Obamacare would eliminate that benefit. Romney’s response at the debate: [2]
“In fact, I do have a plan that deals with people with pre-existing conditions.”
Romney’s plan could exclude millions, however, since it guarantees insurance only if the person with a pre-existing condition has maintained coverage without a lapse longer than three months [13].
But, no worries. In Romney’s magical world, if we all just clap loudly enough, Tinker Bell won’t die!
Like any good magician, Romney keeps the details of his plans for America hidden up his sleeve. Taking a cue from that Muhammad Ali rhyme, he believes:
Your hands can't hit what your eyes can't see.
If the average American's accountant, banker or tax prep helper said the made the kind f crazy statements that Romney makes, most reality based Americans would run to the door. Yet - who knows why - he has a nice haircut and wears a white shirt and has the nerve to claim he loves America and has values, some of those same common sense Americans are willing to vote for him. Like P.T. Barnum once said, there is a sucker born every minute.
Even neon-confederate traitors like Republican alcoholic, wuss wearing camos and nut job Ted Nugent get equal time. being wacko has become cool - Ted Nugent: Discovery Channel Special Will Advance My View In "Culture War". Ted is a prime example of wing-nut welafre. He has no job skills so the conservative noise machine pays him to teach as many Americans as possible how to be a traitor.
Sen. Scott Brown Says He Would Stalk Pussycat Dolls
People wonder why government does not work. Scott Brown is the poster boy for being a puppet for special interests. He makes it his job to make sure the government is by and for the Koch brothers, not by and for the people. But hey he runs around in a truck pretending to be a an average citizen. People should vote for Brown if they want to gut Medicare, widens the wage disparity gap, make the too big to fail banks even less accountable and give yet more tax cuts to billionaires.
Mitt Romney turned in a polished performance in last night's presidential debate – and revealed himself to be an accomplished and unapologetic liar. In an evening where he sought to slice and dice the president with statistics, Romney baldly misrepresented his own policy prescriptions, made up numbers to fit his attacks and buried clear contrasts with the president under a heaping pile of horseshit.
Here are mendacious Mitt's five most outrageous statements:
1. "I don't have a $5 trillion tax cut." Romney flatly lied about the cost of his proposal to cut income-tax rates across the board by another 20 percent (undercutting even the low rates of the Bush tax cuts). Independent economists at the Tax Policy Center have shown that the price tag for those cuts is $360 billion in the first year, a cost that extrapolates to $5 trillion over a decade.
2. "I will not reduce the taxes paid by high-income Americans." Romney has claimed that he will pay for his tax cuts by closing a variety of loopholes and deductions. The factual problem? Romney hasn't named a single loophole he's willing to close; worse, there's no way to offset $5 trillion in tax cuts even if you get rid of the entire universe of deductions for the wealthy that Romney has not put off the table (like the carried interest loophole or the 15 percent capital gains rate.) The Tax Policy Center report concludes that Romney's proposal would create a "net tax cut for high-income tax payers and a net tax increase for lower- and or middle-income taxpayers." Moreover, some of Romney's tax cuts are micro-targeted at American dynasties, particularly his proposal to eliminate the estate tax, which would reduce his own sons' tax burden by tens of millions of dollars.
3. "We've got 23 million people out of work or [who have] stopped looking for work in this country." Romney is lying for effect. The nation's crisis of joblessness is bad, but not 23 million bad. The official figure is 12.5 million unemployed. An additional 2.6 million Americans have stopped looking for jobs. How does Romney gin up his eye-popping 23 million figure? He counts more than 8 million wage earners who hold part-time jobs as also being "out of work."
4. Obamacare "puts in place an unelected board that's going to tell people ultimately what kind of treatments they can have." Romney is reviving Sarah Palin's old death panels lie here. Obamacare does establish an Independent Payment Advisory Board to help constrain the growth of Medicare spending. The body has no authority to dictate the practices of the private insurance marketplace. And the law also makes explicit that this body is banned from rationing care or limiting medical benefits to seniors.
5. "Pre-existing conditions are covered under my plan." In the biggest whopper of the night, Romney suggested that his health care proposal would guarantee coverage to Americans with pre-existing conditions. This is just not true. Under Romney, if you have a pre-existing condition and have been unable to obtain insurance coverage or if you have had to drop coverage for more than 90 days because you lost your job or couldn't afford the premiums, you would be shit out of luck. Insurance companies could continue to discriminate and deny you coverage, as even Romney's top adviser conceded after the debate was over.
But conservatives and the media say that Romney won. In other words lies and moral corruption won. As if the USA was not already being dragged down the rabbit hole of moral nihilism by the conservative movement. Greed, theft, unpaid for wars, lying us into wars, bankrupting the nation - these things are patriotic according to the morally bankrupt conservative Republican movement. Romney;s lack of conscience is seen as a plus among that crowd. At Last Night’s Debate: Romney Told 27 Myths In 38 Minutes. Mitt and Republicans think the trip to the gutter is a race. Whoever can be the most soulless wins.
GOP in Florida: Crying Fraud, Then Creating It. When Republicans voted for criminal Rick Scott as governor, that was not a stupid mistake. They needed a 'Godfather" type figure as head of their organized crime organization.
Republicans have obstructed 3 jobs bills, Obama moving forward anyway
In the last four quarters, the six largest Wall Street banks have made $63 billion, the most they’ve made since 2006. Despite having pushed the nation to the brink of economic collapse, and after receiving billions of taxpayer dollars, the banks are back to where they were when the housing bubble inflating.
However, according to Bloomberg News, a return to sky-high profits isn’t enough for the banking industry, which reacted to the numbers by whining about regulation and “a backlash against bankers“:
Those billions of dollars in profits aren’t enough, according to interviews with more than a dozen bank executives and analysts. The lowest leverage in a decade, return on equity at a third of 2006 levels, higher capital requirements, shares trading below book value, declining bonuses, job cuts, the European sovereign-debt crisis and a backlash against bankers have damped the joys of profit, they said.
These six banks — Citigroup, Bank of America, JP Morgan Chase, Wells Fargo, Goldman Sachs, and Morgan Stanley — “will have combined profits of $9.9 billion in the third quarter, $17.4 billion in the last three months of the year and $75.8 billion in 2013? according to estimates. “When the banks say, ‘We’re doing very well but not getting a return on our capital,’ it’s completely incomprehensible, and it’s angering to the average American,” said Michael Greenberger, a former regulator who now teaches at the University of Maryland’s law school.
The banks’ return to massive profitability also refutes the argument that the Dodd-Frank financial reform law will cripple the ability of financial services companies to make money. According to a recent study, the nation’s banks went right back to making risky loans after receiving their taxpayer-funded bailout.
Higher taxes have actually helped with past economic recoveries.
RERUN: Fox, Carlson, Drudge Attacked Obama's Hampton Speech Five Years Ago. Carlson, Fox, Drudge and Hannity have hyped so much pure bullsh*t that has hurt America, one wonders how they can possibly think of themselves as patriots. Yet they never apologize or correct themselves. It is always onward to the next faux scandal, the next set of immoral lies, the next wave of racist tinged talking points.
CNN's Sanjay Gupta claimed that the proposed changes to Medicare that Congressman Paul Ryan has offered would allow seniors to choose between "a voucher" system and "traditional Medicare," while keeping the system affordable. In fact, experts say the Ryan plan would threaten Medicare's long-term viability and potentially would increase seniors' medical costs by thousands of dollars.
CNN's Gupta: Ryan Plan Will Give Future Seniors Option To Retain "Traditional Medicare"
Sanjay Gupta Claimed Ryan's Proposal Will Give Future Seniors A Choice Between Voucher System And Traditional Medicare. On the September 28 edition of CNN's Early Start, CNN chief medical correspondent Sanjay Gupta reported on the differences between the Ryan Medicare plan and the Affordable Care Act and claimed that the Ryan plan would offer those under 55 "the option of getting a voucher to purchase private insurance, or they could stick with traditional Medicare":
GUPTA: Romney and his running mate Paul Ryan proposed to cap malpractice insurance, cut Medicaid by $810 billion dollars over the next 10 years, give states more control over their Medicaid funds, overhaul Medicare. The overhaul? People now younger than 55, when they reach retirement, would have the option of getting a voucher to purchase private insurance. Or, they could stick with traditional Medicare. [CNN, Early Start, 9/28/12]
But Experts Say Ryan's Plan Threatens Medicare's Long-Term Viability
CBPP: Ryan's Promise To Ensure "Traditional Medicare Remains An Option" Cannot Be Kept. Paul Van de Water, an economist and senior fellow at the Center for Budget and Policy Priorities, wrote in March that Congressman Paul Ryan's plans for Medicare in his latest budget could lead to the unraveling of traditional Medicare:
Chairman Ryan claims that his proposal "ensur[es] that traditional Medicare remains an option." Unfortunately, that's not the case. Under premium support, traditional Medicare would tend to attract a less healthy pool of enrollees, while private plans would attract healthier enrollees (as occurs today with Medicare and private Medicare Advantage plans). Although the proposal calls for "risk adjusting" payments to health plans -- that is, adjusting them to reflect the average health status of their enrollees -- the risk adjustment process is highly imperfect and captures only part of the differences in costs across plans that stem from differences in the health of enrollees.
Inadequate risk adjustment would mean that traditional Medicare would be only partially compensated for its higher-cost enrollees, which would force Medicare to raise beneficiary premiums to make up the difference. The higher premiums would lead more of Medicare's healthier enrollees to abandon it for private plans, very possibly setting off a spiral of rising premium costs and falling enrollment for traditional Medicare. Over time, traditional Medicare would become less financially viable and could unravel -- not because it was less efficient than the private plans, but because it was competing on an unlevel playing field in which private plans captured the healthier beneficiaries and incurred lower costs as a result. Ryan also would allow private plans to tailor their benefit packages to attract healthier beneficiaries and deter sicker ones, which only makes this outcome more likely. [Center on Budget and Policy Priorities, 3/28/12]
CBPP: Voucher Systems That Include Medicare Option Could "Threaten Traditional Medicare's Long-Term Viability." In a September 2011 report titled, "Converting Medicare to Premium Support Would Likely Lead to Two-Tier Health Care System," CBPP explained that under a "premium support" system such as the one in the Ryan plan that was passed by the House in April 2011, "inadequate risk adjustment" could lead to healthier seniors abandoning traditional Medicare for private plans. The report explained that could leave only the less healthy in the traditional Medicare program, which could "drive up its costs and threaten traditional Medicare's long-term viability." [Center on Budget and Policy Priorities, 9/26/11]
Brookings Institute: Financing For Ryan Plan Would "Throw Into Doubt The Very Survival Of The Program." Brookings Institute senior fellow Henry Aaron evaluated the Ryan Medicare plan and concluded that "the financing for traditional Medicare would become progressively less adequate, throwing into doubt the very survival of the program":
Liberal media. The only people who think the media is liberal are the same people who dance with ghosts and think the Loch Ness monster talks to them in the shower - oh, and Republicans.
