Obama to Cap Pay for Bailed-out Execs

From the Huffington Post:

As was reported today, Barack Obama is expected to announce Wednesday a series of new pay limits, including those for executive pay, for companies receiving significant amounts of bailout money. Obama is scheduled to make the announcement alongside Treasury Secretary Tim Geithner at the White House.

While specific details regarding the type of pay limits that the Obama administration plans to set have so far been vague, the New York Times is now reporting that top executives may see their pay capped at $500K:

The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.

This is a huge move for the Obama Administration.

The president needs to make sure there are no loopholes.  And the whining Republicans better be on board with this.

Finally, I’ll do my part.  I vow to make no more than $500,000 next year as well.  My employer will be pleased.

Black is Back for the GOP – No, Wait, It Never Was

I have to admit I laughed out loud when I read the newsflash from the Chicago Tribune that the Republican National Committee elected Michael Steele their first black national party chairman.  The move is  “a response in part to election defeats that have left the party’s base more white and Southern at a time when the country is growing more diverse,” according to Peter Wallsten, reporting for the Trib.

Strom Thurmond must be turning over in his grave.  And Jesse Helms?  Well, he just died again.

Oy.  Yoy.  And Double Yoy!

So, the GOP is the new black?

I wonder what the Cook County Republican Party will do to match this move?

Let’s meet them.  They changed leadership — and their Web sitesince we last stopped by to visit.  Their Web site was previously Republican Red.

It is now Obama Blue.

No kidding.

Here’s their leadership:

The Chairman is Lee Roupas.  He’s white.
Eloise Gerson – City of Chicago Chairman.  She’s white too.
Eric Wallace – Co-Chairman. Yup.  White.
Doug Glick – Co-Chairman.  White.
Judy Diekelman – Treasurer.  She’s white.
Linda LaFianza– Secretary.  White.
June O’Donoghue – North Suburban District Vice Chairman.  June is white.
Michael J. Gadzinski – Central Suburban District Vice Chairman.  Gadzinski?  Don’t ask.
Sig Vaznelis – South Suburban District Vice Chairman. Sig is not from the South Side.  He’s a bit white.
Frank Capuzi – City of Chicago District Vice Chairman.  White.
Tony Castrogiovanni – Vice Chairman At Large.  Tony is white.
John Curry – Vice Chairman At Large.  He’s bright white, and his Web site loads very slowly.
Joe Hedrick – Vice Chairman At Large.  Yup.  White.

Let’s see what happens to this list over the next few weeks.

Will the GOP be successful in their ruse to fool Americans into thinking that Michael Steele is the new Barack Obama?  Americans tend to be smarter than that.  We didn’t buy it that Sarah Palin was the new Hillary.

Thanks for the laugh, GOP.  You made my day.

Rush Limbaugh Wants America to Fail

Flaming Comedian Rush Limbaugh

Comedian Rish Limbaugh wants America to fail.

Even before President Barack Obama (love the sound of that) took office, Limbaugh was hoping for his failure.  According to Faiz Shakir at Think Progress, last Friday, Limbaugh told his radio audience, ““I disagree fervently with the people on our [Republican] side of the aisle who have caved and who say, ‘Well, I hope he succeeds.’”

According to Shakir, Limbaugh said he was asked by a “major American print publication” to offer a 400-word statement explaining his “hope for the Obama presidency.”  His response?

So I’m thinking of replying to the guy, “Okay, I’ll send you a response, but I don’t need 400 words, I need four: I hope he fails.” (interruption) What are you laughing at? See, here’s the point. Everybody thinks it’s outrageous to say. Look, even my staff, “Oh, you can’t do that.” Why not? Why is it any different, what’s new, what is unfair about my saying I hope liberalism fails? Liberalism is our problem. Liberalism is what’s gotten us dangerously close to the precipice here. Why do I want more of it? I don’t care what the Drive-By story is. I would be honored if the Drive-By Media headlined me all day long: “Limbaugh: I Hope Obama Fails.” Somebody’s gotta say it.

Really, Rush?  As bad as things are now, you want the president to fail?

If this president fails, America fails.  There is no other alternative.  The country is in an almost unprecedented financial crisis, inches away from another Depression.  The only people not suffering are the filthy rich who lack empathy, like Limbaugh.

Over 500,000 people lost their jobs last week.  That’s right — 500,000 people lost their jobs last week.

There aren’t enough pain pills in the world for them, Rush, even if you donate some of your stash.

The majority of Americans get it — the time for screaming matches is over.  Limbaugh’s audience will fade.  People will see him for what he is: a comedian in search of an audience.  Barack Obama is not the polarizing figure Bill Clinton was at times.  President Obama is an honest, likeable guy.And he’s honest.

It’s going to be tough being Rush the next four years.  And it’s about time.

Bush Recession Cuts Deep

America has yet to reach rock bottom.  We’re beyond playing games blaming “W” for all our problems.  Yes, this recession belongs to George W. Bush, in spite of the “W” administration’s lame attempts to preemptively blame the Clinton Administration for any and all economic woes to come.

History will judge Bush 43.  We need to look forward and help each other through this mess.

Economic Survival Rule Number One: Ignore all conservatives henceforth.  Their time has come and gone, and they have left this country in shambles.

From our friends at The Nation:

Garry Wills says Americans think of government only as a “necessary evil,” a last resort. Well, folks, all the other resorts are boarded up. In November, America shed more than 500,000 jobs, the worst single-month record in thirty-four years. We lost more than 2 million over the course of 2008–and the crash is accelerating across the globe.

At the same time, America is falling apart, literally. We’ve witnessed the ghastly spectaculars: failure of the levees in New Orleans, collapse of the I-35W bridge in Minneapolis, bursting of the steam pipe that shut down ten square blocks of Manhattan. But these tragic catastrophes are a small part of the growing costs of a conservative-era failure to invest in our future.

Conservative scorn for government has produced a crippling public-investment deficit. America’s core infrastructure–roads, bridges, sewers, airports, trains, mass transit–is overcrowded, outdated and crumbling. The evidence, assembled by Eric Lotke in The Investment Deficit in America, issued by the Campaign for America’s Future, is stark. Poor road conditions cost Americans billions in repairs and countless hours in delay. Though China opens a new subway system every year, and Europeans travel from Paris to Frankfurt on high-speed rail, American railroads don’t have the funds needed even to maintain their outmoded infrastructure. Cities are suffering an epidemic of broken pipes and sinkholes, with the Environmental Protection Agency estimating more than 40,000 discharges of raw sewage into our drinking water, streams and homes each year from collapsing and overwhelmed sewage systems. The Education Department found that one-third of our schools are in such a severe state of disrepair that it “interferes with the delivery of instruction.”

These are only some of our challenges.  500,000 jobs lost.  The worst single-month record in thirty-four years.

What lies ahead?

We must move forward unfettered by the ideologies of the past eight years, and several years before that.  The erstwhile Republican Contract with America died a miserably bloated death, choking on pork and fat.  It was a joke.

Remember the great Republican promise?

Like Lincoln, our first Republican president, we intend to act “with firmness in the right, as God gives us to see the right.” To restore accountability to Congress. To end its cycle of scandal and disgrace. To make us all proud again of the way free people govern themselves.

How did that work out?

We stand together poised on the brink of an economic Depression: abnormal increases in unemployment, restriction and collapse of credit industries, bankruptcies, reduced trade and commerce, the devaluation of the dollar.

We must stand together and resist the urge to panic.  This is not the time to cry foul at any and all forms of government.  Remember, President Ronald “government-is-not-the-solution-to-our-problem-government-is-the-problem” Reagan grew the Federal Government as no liberal would have dared dream.  His 1983 $165 billion bailout of Social Security was a huge paradigm shift for The Gipper, but it was necessary.

Consider this blast from the past from Joshua Green:

It’s conservative lore that Reagan the icon cut taxes, while George H.W. Bush the renegade raised them. As Stockman recalls, “No one was authorized to talk about tax increases on Ronald Reagan’s watch, no matter what kind of tax, no matter how justified it was.” Yet raising taxes is exactly what Reagan did. He did not always instigate those hikes or agree to them willingly–but he signed off on them. One year after his massive tax cut, Reagan agreed to a tax increase to reduce the deficit that restored fully one-third of the previous year’s reduction. (In a bizarre bit of self-deception, Reagan, who never came to terms with this episode of ideological apostasy, persuaded himself that the three-year, $100 billion tax hike–the largest since World War II–was actually “tax reform” that closed loopholes in his earlier cut and therefore didn’t count as raising taxes.)

Why the stroll down memory lane?

As liberals, we need to remind conservatives that staunch ideology breeds mindless idiocy.  As liberals we need remind ourselves as well that staunch ideology breeds mindless idiocy.

The crises of the current moment demand we seek solutions beyond our level of comfort.  We won’t make it through these crises simply because we are Americans. The only way to confront the current crises head on is to embrace the inevitable — everything we have known before is now different.  There are industries in this country we risk losing entirely unless we change our thinking and reinvent ourselves.  We can’t transplant solutions from bygone eras.

Everything now is different.  Talk about your moment of Zen.

Change has come to America.  Change always comes to America.  It’s only when we resist or ignore change that we suffer.  Resist change, and our infrastructure — spiritual, economic or concrete — can indeed collapse.

The Palin Chronicles: Blame Bush for the Loss

Sarah Palin is determined to stay in the news, and FOX News is happy to provide the diva with a platform.

From the Associated Press:

Alaska Gov. Sarah Palin, amid speculation she’ll run for president in four years, blamed Bush administration policies for the defeat last week of the GOP ticket and prayed she wouldn’t miss “an open door” for her next political opportunity.

“I’m like, OK, God, if there is an open door for me somewhere, this is what I always pray, I’m like, don’t let me miss the open door,” Palin said in an interview with Fox News on Monday. “And if there is an open door in ’12 or four years later, and if it is something that is going to be good for my family, for my state, for my nation, an opportunity for me, then I’ll plow through that door.”

In a wide-ranging interview with Fox’s Greta Van Susteren, Palin says she neither wanted nor asked for the $150,000-plus wardrobe the Republican Party bankrolled, and thought the issue was an odd one at the end of the campaign, considering “what is going on in the world today.”

“I did not order the clothes. Did not ask for the clothes,” Palin said. “I would have been happy to have worn my own clothes from Day One. But that is kind of an odd issue, an odd campaign issue as things were wrapping up there as to who ordered what and who demanded what.”

“It’s amazing that we did as well as we did,” Palin, who was Sen. John McCain’s running mate, said of the election in a separate interview with the Anchorage Daily News.

“I think the Republican ticket represented too much of the status quo, too much of what had gone on in these last eight years, that Americans were kind of shaking their heads like going, wait a minute, how did we run up a $10 trillion debt in a Republican administration? How have there been blunders with war strategy under a Republican administration? If we’re talking change, we want to get far away from what it was that the present administration represented and that is to a great degree what the Republican Party at the time had been representing,” Palin said in a story published Sunday.

My favorite part of the story is a little further down and fills us in on Palin’s activities this past weekend, just days past the election:

Her father, Chuck Heath, said Palin spent part of the weekend going through her clothing to determine what belongs to the Republican Party.

“She was just frantically … trying to sort stuff out,” Heath said. “That’s the problem, you know, the kids lose underwear, and everything has to be accounted for. Nothing goes right back to normal,”

So the RNC bought high-end underwear for the Palins as well?

Honestly, have we ever seen anything like this in American history?  Don’t tell me we’re employing a double standard, unfairly judging the female candidate.  Sarah brought this all on herself when she bought and bought and bought, or looked the other way while others did so.

When historians analyze this election 50 years hence, will they be able to read the Palin chapter with a straight face?

Meet the Press – November 9, 2008

Enjoy Meet the Press, Sunday, November 9, 2008.

Nov. 9: A look ahead at the Obama presidency with Valerie Jarrett, the newly appointed co-chair of the president-elect’s transition team. Plus, former RNC Chair Sen. Mel Martinez (R-FL) & House Majority Whip Rep. James Clyburn (D-SC) and a political roundtable with Doris Kearns Goodwin, Jon Meacham & Mary Mitchell.

Conservatives Allege First Amendment Obama Snub

After eight years of avoiding-the-press Constitution-shredding George W. Bush, silencing and insulting Helen Thomas, corralling protesters like swine far from W’s view, suspending Habeas Corpus, exposing CIA spy Valerie Plame, and more, now conservatives are claiming President-Elect Barack Obama  is suppressing free speech.

From an angry right-wing blogger:

First, there were the repeated references to FOX News during the campaign.  Then, three newspapers which endorsed John McCain for President – The Washington Times, The New York Post, and The Dallas Morning News – were booted off the campaign airplane because of overcrowding.  Today, President-Elect Barack Obama took a few questions after his statement on the economy at his first news conference since the election.  Noticeably, Obama took questions from the AP, Reuters, ABC, CBS, NBC, The New York Times, and both major Chicago papers, the Tribune and Sun-Times — but not FOX News.

Wha-a-a?  Obama neglect “Fair and Unbalanced” FOX?  Say it ain’t so, Joe!  The writer claims there “is legitimate reason for Christians and conservatives to be concerned about an intensified effort to suppress the possibility of dissenting speech.”

We have only experienced a paucity of Presidential press conferences in the past eight years.  President-Elect Obama already has one under his belt.

My favorite line is here:

Of course, FOX News is not conservatively biased.  It just seems that way to liberals because there is actually a free-flowing discussion of ideas, policies, and news-making events.

That really makes me smile.

This week I had a discussion with a teenager who was bemoaning what she called the “liberal press coverage” the night of the election.  How, she wondered, did the networks call states for Obama with 0% of the vote in?

I wondered the same thing for a while, until I remembered that the networks had massive ground operations doing exit polls in every state.  Their projections were their own, and they offered them at their own risk.

Liberal media?  That’s the conservative rally cry every time the media does it’s job.  That’s the cry of the conservatives when the media dares to ask questions.  “W” received so many free passes over the past eight years it’s not even funny.  The media dropped the ball time and time again.

Did FOX News report that Palin did not know Africa was a continent?  Yes, they did.  Perhaps the real problem isn’t the “liberal” media after all.  Perhaps the problem is the conservative/Republican agenda to suppress the First Amendment:

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. (The United States Constitution)

I’m looking forward to a President standing before the media again – even far right FOX.  Frankly, it will be a delight to have a President who actually knows the language, and isn’t afraid to use it.

And it will be nice to watch as the Constitution, all of it, is restored.

Barack Obama’s Election Night Speech

“Change has come to America.”

Chicago, IL–November 4, 2008- If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer.

It’s the answer told by lines that stretched around schools and churches in numbers this nation has never seen; by people who waited three hours and four hours, many for the very first time in their lives, because they believed that this time must be different; that their voice could be that difference.

It’s the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Latino, Asian, Native American, gay, straight, disabled and not disabled — Americans who sent a message to the world that we have never been a collection of Red States and Blue States: we are, and always will be, the United States of America.

It’s the answer that led those who have been told for so long by so many to be cynical, and fearful, and doubtful of what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.

It’s been a long time coming, but tonight, because of what we did on this day, in this election, at this defining moment, change has come to America.

I just received a very gracious call from Senator McCain. He fought long and hard in this campaign, and he’s fought even longer and harder for the country he loves. He has endured sacrifices for America that most of us cannot begin to imagine, and we are better off for the service rendered by this brave and selfless leader. I congratulate him and Governor Palin for all they have achieved, and I look forward to working with them to renew this nation’s promise in the months ahead.

I want to thank my partner in this journey, a man who campaigned from his heart and spoke for the men and women he grew up with on the streets of Scranton and rode with on that train home to Delaware, the Vice President-elect of the United States, Joe Biden.

I would not be standing here tonight without the unyielding support of my best friend for the last sixteen years, the rock of our family and the love of my life, our nation’s next First Lady, Michelle Obama. Sasha and Malia, I love you both so much, and you have earned the new puppy that’s coming with us to the White House. And while she’s no longer with us, I know my grandmother is watching, along with the family that made me who I am. I miss them tonight, and know that my debt to them is beyond measure.

To my campaign manager David Plouffe, my chief strategist David Axelrod, and the best campaign team ever assembled in the history of politics — you made this happen, and I am forever grateful for what you’ve sacrificed to get it done.

But above all, I will never forget who this victory truly belongs to — it belongs to you.

I was never the likeliest candidate for this office. We didn’t start with much money or many endorsements. Our campaign was not hatched in the halls of Washington — it began in the backyards of Des Moines and the living rooms of Concord and the front porches of Charleston.

It was built by working men and women who dug into what little savings they had to give five dollars and ten dollars and twenty dollars to this cause. It grew strength from the young people who rejected the myth of their generation’s apathy; who left their homes and their families for jobs that offered little pay and less sleep; from the not-so-young people who braved the bitter cold and scorching heat to knock on the doors of perfect strangers; from the millions of Americans who volunteered, and organized, and proved that more than two centuries later, a government of the people, by the people and for the people has not perished from this Earth. This is your victory.

I know you didn’t do this just to win an election and I know you didn’t do it for me. You did it because you understand the enormity of the task that lies ahead. For even as we celebrate tonight, we know the challenges that tomorrow will bring are the greatest of our lifetime — two wars, a planet in peril, the worst financial crisis in a century. Even as we stand here tonight, we know there are brave Americans waking up in the deserts of Iraq and the mountains of Afghanistan to risk their lives for us. There are mothers and fathers who will lie awake after their children fall asleep and wonder how they’ll make the mortgage, or pay their doctor’s bills, or save enough for college. There is new energy to harness and new jobs to be created; new schools to build and threats to meet and alliances to repair.

The road ahead will be long. Our climb will be steep. We may not get there in one year or even one term, but America — I have never been more hopeful than I am tonight that we will get there. I promise you — we as a people will get there.

There will be setbacks and false starts. There are many who won’t agree with every decision or policy I make as President, and we know that government can’t solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And above all, I will ask you join in the work of remaking this nation the only way it’s been done in America for two-hundred and twenty-one years — block by block, brick by brick, calloused hand by calloused hand.

What began twenty-one months ago in the depths of winter must not end on this autumn night. This victory alone is not the change we seek — it is only the chance for us to make that change. And that cannot happen if we go back to the way things were. It cannot happen without you.

So let us summon a new spirit of patriotism; of service and responsibility where each of us resolves to pitch in and work harder and look after not only ourselves, but each other. Let us remember that if this financial crisis taught us anything, it’s that we cannot have a thriving Wall Street while Main Street suffers — in this country, we rise or fall as one nation; as one people.

Let us resist the temptation to fall back on the same partisanship and pettiness and immaturity that has poisoned our politics for so long. Let us remember that it was a man from this state who first carried the banner of the Republican Party to the White House — a party founded on the values of self-reliance, individual liberty, and national unity. Those are values we all share, and while the Democratic Party has won a great victory tonight, we do so with a measure of humility and determination to heal the divides that have held back our progress. As Lincoln said to a nation far more divided than ours, “We are not enemies, but friends…though passion may have strained it must not break our bonds of affection.” And to those Americans whose support I have yet to earn — I may not have won your vote, but I hear your voices, I need your help, and I will be your President too.

And to all those watching tonight from beyond our shores, from parliaments and palaces to those who are huddled around radios in the forgotten corners of our world — our stories are singular, but our destiny is shared, and a new dawn of American leadership is at hand. To those who would tear this world down — we will defeat you. To those who seek peace and security — we support you. And to all those who have wondered if America’s beacon still burns as bright –tonight we proved once more that the true strength of our nation comes not from our the might of our arms or the scale of our wealth, but from the enduring power of our ideals: democracy, liberty, opportunity, and unyielding hope.

For that is the true genius of America — that America can change. Our union can be perfected. And what we have already achieved gives us hope for what we can and must achieve tomorrow.

This election had many firsts and many stories that will be told for generations. But one that’s on my mind tonight is about a woman who cast her ballot in Atlanta. She’s a lot like the millions of others who stood in line to make their voice heard in this election except for one thing — Ann Nixon Cooper is 106 years old.

She was born just a generation past slavery; a time when there were no cars on the road or planes in the sky; when someone like her couldn’t vote for two reasons — because she was a woman and because of the color of her skin.

And tonight, I think about all that she’s seen throughout her century in America — the heartache and the hope; the struggle and the progress; the times we were told that we can’t, and the people who pressed on with that American creed: Yes we can.

At a time when women’s voices were silenced and their hopes dismissed, she lived to see them stand up and speak out and reach for the ballot. Yes we can.

When there was despair in the dust bowl and depression across the land, she saw a nation conquer fear itself with a New Deal, new jobs and a new sense of common purpose. Yes we can.

When the bombs fell on our harbor and tyranny threatened the world, she was there to witness a generation rise to greatness and a democracy was saved. Yes we can.

She was there for the buses in Montgomery, the hoses in Birmingham, a bridge in Selma, and a preacher from Atlanta who told a people that “We Shall Overcome.” Yes we can.

A man touched down on the moon, a wall came down in Berlin, a world was connected by our own science and imagination. And this year, in this election, she touched her finger to a screen, and cast her vote, because after 106 years in America, through the best of times and the darkest of hours, she knows how America can change. Yes we can.

America, we have come so far. We have seen so much. But there is so much more to do. So tonight, let us ask ourselves — if our children should live to see the next century; if my daughters should be so lucky to live as long as Ann Nixon Cooper, what change will they see? What progress will we have made?

This is our chance to answer that call. This is our moment. This is our time — to put our people back to work and open doors of opportunity for our kids; to restore prosperity and promote the cause of peace; to reclaim the American Dream and reaffirm that fundamental truth — that out of many, we are one; that while we breathe, we hope, and where we are met with cynicism, and doubt, and those who tell us that we can’t, we will respond with that timeless creed that sums up the spirit of a people:

Yes We Can. Thank you, God bless you, and may God Bless the United States of America.