Bush's record-setting pace
Japan Today - Commentary - Bush's record-setting pace - Japan's Leading International News Network
Don Monkerud
Whether you praise U.S. President George W Bush or consider him the worst president, the fact remains: he has set more records than any other American president in history. While his record isn't official — isn't tracked by Guinness World Records or tabulated by the government — many of the items reveal that Bush is having a colossal effect on the country.
Despite his efforts to focus the electorate on Bush's record, Democratic candidate John Kerry lost the last election on national defense and fear issues. Now that Americans are feeling safer with Bush in the White House, more secure with one party in control of the three branches of government, and accepting the idea of an American empire, it's time to consider Bush's recent records.
Not all of these records are his responsibility, although many are a direct result of his policies. Take, for example, the fact that Bush started his second term with a record setting $40 million spent on his inaugural events, the bulk paid by his largest campaign contributors. After criticizing former President Bill Clinton for allowing contributors to spend the night in the Lincoln bedroom, the GOP began charging couples $250,00 to lunch with the president. Isn't this a record lunch tab? It is the result of a policy decision, as is Bush's 2000 cabinet, which set a record with 13 millionaires.
Bush, alone, may not be responsible for record spending in the last election, the most expensive in history at $3.9 billion. Is he responsible for the fact that today nearly half of all lawmakers who retire from the Senate and House — 52% of Republicans and 33% of Democrats — become lobbyists? Did the 1,300 registered lobbyists who gave him more than $1.8 million over six years, the 52 lobbyists who raised more than $6 million for Bush's reelection, or 100 former lobbyists appointed to regulate business by Bush set new records or are they merely a reflection of money playing a larger role in politics?
Unquestionably, Bush is exemplary in other areas over which he has some control. His new records for trade deficits occur almost quarterly and he is on track to set another record this year. The trade gap, which set a new quarterly record of $195 billion in June, is on pace to set a record $780 billion for the year. This is a sharp increase over last year's record $617 billion, which represented a 24% increase over the previous year.
Today the U.S. has to borrow a record $2.1 billion each day to keep our economy afloat and has lost a record 3 million manufacturing jobs in three years, partly due to Bush's trade deals. Bush also set a record for the longest job slump since the depression and, recently, the labor participation rate fell to its lowest level since 1988 with 66% of the people working or looking for work. Over 500,000 people, 20% higher than a year ago, have simply given up looking for a job.
Bush set another deficit record of $412 billion for the domestic budget in 2004 and urged Congress to sign the third increase in three years to increase the size of the U.S. debt to $8.2 trillion. Part of this is attributed to the occupation of Iraq, which is expected to total as much as $700 billion, and extend deficits into the future. Since its beginning, America produced a national debt of $5.7 trillion but since Bush took office, the debt is expected to almost double to $10.8 trillion in 2010. The national debt, which used to be an issue for the GOP, is now 70% as large as the total U.S. economy. After years of attacking the "tax and spend" Democrats, Republicans are now the party of "spend, spend, spend our way into debt."
While some values have recovered in the past few months, Bush has set records for the decline in the dollar. Since the beginning of his second term, we've seen the dollar drop 24% against the euro, 14% against the Japanese yen, and 21% against the Canadian dollar. After 9/11, Bush told America to go shopping, making U.S. consumers free spenders with savings rates hitting a 35-year low. Bush claims it's good for America although you won't find it on a campaign flyer.
As a result of his loose-money policies, a record $1 trillion of the nation's mortgage debt will switch to adjustable payments in 2007. Will that record hurt homeowners who voted for Bush in 2004, when they notice their average payment increasing from $1250 in 2005 to $2100 by 2010?
Obviously, the president and the GOP aren't proud of these records: they don't bode well for the future. They hope we can grow the economy out of these dead-ends while Bush and his supporters bash the Democrats, ravage anyone who takes exception to their policies, and berate the press for not giving negative news a positive spin. Meanwhile Americans appear proud of setting records - no matter how dire their consequences.
Don Monkerud is an Aptos, California-based writer who follows politics.
August 13, 2005
Don Monkerud
Whether you praise U.S. President George W Bush or consider him the worst president, the fact remains: he has set more records than any other American president in history. While his record isn't official — isn't tracked by Guinness World Records or tabulated by the government — many of the items reveal that Bush is having a colossal effect on the country.
Despite his efforts to focus the electorate on Bush's record, Democratic candidate John Kerry lost the last election on national defense and fear issues. Now that Americans are feeling safer with Bush in the White House, more secure with one party in control of the three branches of government, and accepting the idea of an American empire, it's time to consider Bush's recent records.
Not all of these records are his responsibility, although many are a direct result of his policies. Take, for example, the fact that Bush started his second term with a record setting $40 million spent on his inaugural events, the bulk paid by his largest campaign contributors. After criticizing former President Bill Clinton for allowing contributors to spend the night in the Lincoln bedroom, the GOP began charging couples $250,00 to lunch with the president. Isn't this a record lunch tab? It is the result of a policy decision, as is Bush's 2000 cabinet, which set a record with 13 millionaires.
Bush, alone, may not be responsible for record spending in the last election, the most expensive in history at $3.9 billion. Is he responsible for the fact that today nearly half of all lawmakers who retire from the Senate and House — 52% of Republicans and 33% of Democrats — become lobbyists? Did the 1,300 registered lobbyists who gave him more than $1.8 million over six years, the 52 lobbyists who raised more than $6 million for Bush's reelection, or 100 former lobbyists appointed to regulate business by Bush set new records or are they merely a reflection of money playing a larger role in politics?
Unquestionably, Bush is exemplary in other areas over which he has some control. His new records for trade deficits occur almost quarterly and he is on track to set another record this year. The trade gap, which set a new quarterly record of $195 billion in June, is on pace to set a record $780 billion for the year. This is a sharp increase over last year's record $617 billion, which represented a 24% increase over the previous year.
Today the U.S. has to borrow a record $2.1 billion each day to keep our economy afloat and has lost a record 3 million manufacturing jobs in three years, partly due to Bush's trade deals. Bush also set a record for the longest job slump since the depression and, recently, the labor participation rate fell to its lowest level since 1988 with 66% of the people working or looking for work. Over 500,000 people, 20% higher than a year ago, have simply given up looking for a job.
Bush set another deficit record of $412 billion for the domestic budget in 2004 and urged Congress to sign the third increase in three years to increase the size of the U.S. debt to $8.2 trillion. Part of this is attributed to the occupation of Iraq, which is expected to total as much as $700 billion, and extend deficits into the future. Since its beginning, America produced a national debt of $5.7 trillion but since Bush took office, the debt is expected to almost double to $10.8 trillion in 2010. The national debt, which used to be an issue for the GOP, is now 70% as large as the total U.S. economy. After years of attacking the "tax and spend" Democrats, Republicans are now the party of "spend, spend, spend our way into debt."
While some values have recovered in the past few months, Bush has set records for the decline in the dollar. Since the beginning of his second term, we've seen the dollar drop 24% against the euro, 14% against the Japanese yen, and 21% against the Canadian dollar. After 9/11, Bush told America to go shopping, making U.S. consumers free spenders with savings rates hitting a 35-year low. Bush claims it's good for America although you won't find it on a campaign flyer.
As a result of his loose-money policies, a record $1 trillion of the nation's mortgage debt will switch to adjustable payments in 2007. Will that record hurt homeowners who voted for Bush in 2004, when they notice their average payment increasing from $1250 in 2005 to $2100 by 2010?
Obviously, the president and the GOP aren't proud of these records: they don't bode well for the future. They hope we can grow the economy out of these dead-ends while Bush and his supporters bash the Democrats, ravage anyone who takes exception to their policies, and berate the press for not giving negative news a positive spin. Meanwhile Americans appear proud of setting records - no matter how dire their consequences.
Don Monkerud is an Aptos, California-based writer who follows politics.
August 13, 2005
posted by Marcel at 3:23 PM
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