The escalating costs of education...

Today's NYT ran an insightful story about the rising costs of education in America. Over the past 25 years housing, healthcare, and education costs have far outpaced wages. We are currently hearing much about healtcare and housing policies. It's time to give attention to our national policies toward educating our children and creating human capital, not just liquidity.

The Big Three...

Lots of news today about the Big 3 hitting up the US taxpayers for more money.

I have posted elsewhere that I strongly support deficit spending and am clearly not a libertarian.

However, I simply can not fathom how it makes sense for the American Taxpayer to protect the stockholders of GM, Ford, and Cerberus (the Hedge Fund that owns Chrysler). 

First, it is absolutely ridiculous to believe that these companies are somehow a matter of national security.  If these firms go into bankruptcy, they will eventually come out.  America will not lose its ability to design, engineer, manufacture and sell cars simply because they go into bankruptcy.  Bankruptcy is the legal way firms deal with the problems the Big 3 are facing.  I view their current tactics as shameless opportunism.

Second, it defies logic that automobile labor in Michigan deserves to earn $70/hr and life-time benefits while those who perform the same tasks for Nissan, Toyota, and Suburu in Tennessee, Indiana, and Alabama earn approximately half-that.  Why should all the US taxpayers subsidize these overpaid laborers?  To bring a sharper point to it... the Big 3 are asking the working families of those non-union auto-workers in Tennessee to subsidize the inflated values of Detroit unions with their tax dollars.  Is that fair?

Finally, I  doubt anyone gives much credibility to the Big 3's assertion that this "loan" will somehow be a "bridge to a brighter future".  In fact, these companies will continue to create low-quality products with little innovation and outsized energy requirements.  

I am not always so Darwinian...but in this case I say "let them eat cake."  The Big 3 have made this mess and we should let the management and owners who brought them to the brink of bankruptcy pay the price.  Externalizing the costs of their poor judgement on the rest of the country is short-sighted and wrong.

Just over one week...

Next week is the election.  Those of you who have cable/satellite/local TV must be delighted to be near the end of the protracted campaign season.  Yesterday I watched the Redskins game with a friend and was amazed at the number of ads for various CA propositions and offices.

With one final week to go, I thought this op/ed piece from the NYT was well-timed.  Why can't we create a simpler ballot process?  It's insane.

Further along with Ms. Palin

Boy, am I conflicted about Sarah Palin.  There are so many things I love about her.  But, holy cow, did she do poorly in her recent interviews with Gibson and Couric.  If you are a serious-minded person, this interview will drive you crazy.

If you're not so serious, take a look at this one...

Either way...she's got a long way to go before tomorrow's debate with Joe Biden.  BTW - here's some good advice for Mr. Biden.

A great choice! (I think...for now at least)

First, I confess I know almost nothing about Sarah Palin (including if that's the right spelling of her name).  But based on what little I know (mostly from here (which btw, I never read that paper)), McCain hit the nail on the head with Palin.  Here are some of the things I like about the pick.

• She's younger than dirt (which is 15 years younger than McCain).
• She's a she.
• She's conservative fiscally.
• She's an "outsider".
• She brings new ideas and hope to contrast the "four more years of Bush" mantra we've been hearing from Obama's camp.
• She's willing to criticize her party leadership (just like McCain prior to 2007).

In short, she's a great choice!  Without question, this is a GREAT year to be an independent voter.  Both parties have put together strong tickets with excellent candidates.  I'm glad I am not affiliated with either party so I can sincerely weigh the policies, personalities, and visions of these two potential administrations and do my part to move our country forward.

Wal-Mart supports "the man"

 

Today's WSJ reports that the world's largest retailer is "warning" employees that if the democrats take over next year it will likely hurt their bottom-line, as well as their employment levels (see article here  Wal-Mart Warns of Democratic Win - WSJ.com ).

Why the fear of dems?  Won't Obama's tax-cuts for the poorest Americans increase the spending of Wal-Mart's key constituents?  One word...Unionization.  W-M is one of the most aggressive in fighting unionization (and one of the worst Fortune 500 firms in terms of benefits for hourly employees).

However despite their concerns, W-M leaders are covering their bases with the PAC support of Dems almost equal to their support of the GOP--in stark contrast to the 2000 and 2004 elections.

It would be easy to interpret this as W-M pressuring their employees to vote GOP-or else.  Thoughts?

How the rich get richer

This week's Word for Word has an interesting speech by David Cay Johnston about how the US tax system is one of the most regressive in the world. Interestingly, he notes that professional sports team's owners essentially buy their franchises for free after tax rebates.

Can you say "regressive taxes"?

This helpful little sidebar was in Fortune Magazine a few weeks ago.

How is it a "tax cut" if the poorest Americans are only saving one meal at McDonalds for a family of four?

Is McCain's proposal the the society we want to fashion? Where the rich get richer far faster than the middle class could possibly grow?

History & Politics...

I found a very interesting new podcast this week. It's by historian Bruce Carlson and it looks at current political events through the eyes of history. It's fascinating. It reminds of a favorite saying of Stewart Davenport. Stewart is fond of saying,

if you want to understand how the world works, study economics. But if you want to understand why it works the way it does, study history.

Go ahead...add it to your iTunes/Zune/Homepage. It's worth a listen.

Highlights from "The Liberal Lion"

I've never been a big fan of Ted Kennedy. However, I truly enjoyed this week's "Word for Word" which highlighted several of his best-known speeches over the past 40 years. Worth a listen...

Yes, we can...

As you readers know, I've been a supporter of Obama since 2004. I am so encouraged by the hopeful, positive message he embodies.

Inspiration to hope...

I bet you've all heard Obama's recent speech, "A More Perfect Union". If not, you should download the MP3, put it on your Zune and listen to it while you drive to work or work out. It's an inspirational appeal to our better natures. While it is not quite as important as the "Mr Gorbachev, tear down this wall!" speech, it is one of the best political speeches of my lifetime.

Did you say, "$700 Billion???"

An interesting story on Marketplace yesterday interviewed an University of Chicago Economics professor about the current costs of the war in Iraq. Holy cow...how can we continue this?

Bush speaks, badly

Regardless of one's position on the current administration, I think a large percentage of us agree that he's a bit incoherent. Here's a good op/ed piece from the NYT about a recent speech in New York dealing with the current economic crisis.

A good interview and a fine man...

Of the many things I love about being at Pepperdine, one is being able to live near and interact with Dean Kenneth Starr. Despite anyone's politics, I believe Judge Starr to be an honorable and kind man. This recent profile from the LA Times (from an occassional series on LA's intellectuals) is spot on. Enjoy...

Kenneth Starr: Open to the public - Los Angeles Times

An encouraging victory in Iowa

I don't want to spend too much time on early victories in the current Presidential race. We all know things change quickly (plus...at a recent party I was asked about my "wild left-coast views").

Anyway, I'm encouraged by the Iowa caucus. I believe both Obama and Huckabee are positive candidates who stand for change in the current morass.

Huckabee and Obama win Iowa caucuses - Los Angeles Times

A Step in the Right Direction...

You may know I'm not a huge fan of the current administration. However, today President Bush signed into law an act that will help to limit some of the out-of-control profits that Big Banks have been racking up with the privatization of student loans. I am especially interested in this topic because I will be paying of our student loans until well after my children start college.

I am encouraged (and surprised) that President Bush would buck the banking lobby on this one. Perhaps he's got something up his sleeve that he'll deliver to them re: the mortgage crisis? (Which IMHO is another example of corporate land-grabbing gone wild).

Bush enacts deep student lender subsidy cuts - Yahoo! News

Political Parties and People of Faith

One of the issues that has troubled me the most over the past decade is the depth of the attachment between many well-meaning Christians and Christian-themed organization (e.g., Family Research Council, Focus on the Family, NAE...) and the Republican Party. Now, I am not bothered by Christians who vote Republican, work for conservative causes, and generally act out politically based on their religious principles.

I do the same.

What bothers me is the depth of the attachment not to causes, principles, and beliefs, but to personalities and the Republican Party. IMHO, the GOP has played the Christian vote as powerful voting bloc with no intentions of delivering the level of governmental, regulatory, and legislative renewal that many of these people desire. For example, isn't it interesting that over the past six years with a Republican control over all three branches of Federal government we have not seen any of the changes that these Christian groups lobby for?

So, I am encouraged by recent events that indicate that many other Christian people are beginning to realize this as well. They are recognizing that politics is politics...and that it is not the primary work of the Kingdom of God. Here's a good article by E.J. Dionne of the Washington Post on a few recent events.

Link to E. J. Dionne Jr. - Christians Who Won't Toe the Line - washingtonpost.com

I also recommend Christian, Evangelical & Democrat? by George Hunter, and Tempting Faith by David Kuo.

I try to avoid politics, but...

...two recent columns in the LAT Op-Ed page make a stunning 1-2 punch.

First, this letter allegedly written by one of the 700 plus detainees at Gitmo who are being systematically denied their legal rights. This letter literally made Michelle and I nearly cry at breakfast. (Hint: If you need a password to read this page at LAT but don't want to register check out bugmenot.

Second, this morning they lead with an editorial opinion on the recent statement by Dept. Asst. Secretary of Defense that lawyers representing GITMO detainees are basically terrorists and sympathizers.

I leave you to connect the dots. I will simply say I find this a terrible tragedy of US History and it is especially depressing in light of yesterday's celebration of the great Martin Luther King, Jr.