Yay for "Free" Market Monopolization

Barry C. Lynn and Phillip Longman wrote a great article on Who Broke America’s Jobs Machine? over at Washington Monthly. Their argument is that market monopolization across all sectors (Food, Banking, Retailing, Manufacturing, Pharmaceuticals, etc.) over the last few decades has been the major factor in destroying job creation. They acknowledge the other traditional explanations that may curtail job creation such as machinization/automation, outsourcing, lack of government R&D, and business taxes and regulation. However, the real issue is monopolization.

I'm glad they pointed out that business taxes and regulation were gutted over the last decade, so perhaps with this umpteenth example, we can finally put and end to the notion that tax cuts solve everything. Obviously, elected Republicans and talking heads will never get this as they tend not to live in the reality-based community.

Corporate consolidation and monopolization is nothing more than schadenfreude.

Such is the case that Andrew Johnson made in his first state of the union address.

“Wherever monopoly attains a foothold, it is sure to be a source of danger, discord, and trouble. We shall but fulfill our duties as legislators by according "equal and exact justice to all men," special privileges to none.”

Dems Remain Better on the Economy

John Perr posted Bush Latest GOPer to Show Democrats Better for the Economy at Crooks & Liars and his blog.

As should be self-evident by now, deregulation to the degree that Republicans consistenly promote doesn't actually help the overall economy. It only stuffs the pockets of the top 1%. The 2 major indexes of economic growth (GDP and Employment) do much better on average under Democratic administrations compared to Republican.

It is nice to see how much a failure Bush was overall (to help disprove Conservative economic philosphy, not the fact he harmed the American economy), by starting and ending on a recession and having the worst average drop in the S&P 500 since Hoover.

Its time to wake up and think like Truman.

“If you want to live like a Republican, vote Democratic!”

McSame's Mythical Earmark Estimate

ginandtacos nails McSame/McBush on his made up earmark estimate by Searching for the Trillion-Dollar Earmark.

The really important point is that the entire earmark amount for FY2008 is less than fighting/occupying Iraq in 2 months.

John McCain: earmarks = $100 billion
Anti-tax hawks Citizens Against Government Waste: FY 2008 earmarks = $17.2 billion
Anti-tax hawks Taxpayers for Common Sense: FY 2008 earmarks = $18.3 billion

Iraq War in FY 2008: $12.9 billion per month

Feds flunk audits

As reported by the AP the other day, Federal agencies flunk their audits. What does that mean for you and me? We have no way of knowing what we are really paying for as taxpayers. Congress passed legislation 11 years ago so that taxpayers could have more accountability and transparency, yet 2 of the largest departments (Defense and Homeland Security) cannot even meet the basic accounting requirements.

Even better, there are no repercussions for continued failure or wasteful spending. If a public company had performed this way, they would no longer be able to continue trading on the market as they would have had their stock delisted.

Congress really needs to step up and make these agencies accountable. Then again, if we had a real leader instead of a do-nothing President, perhaps some of these agencies would have cleaned up their act.