Tag Archive: obama


The Latest from Bruce Bueno De Mesquita who argues that gerrymandering gives incumbents a wildly unfair advantage.

In the process of setting electoral districts, gerrymandering is a practice that attempts to establish a political advantage for a particular party or group by manipulating geographic boundaries to create partisan or incumbent-protected districts.

“Published on Sep 6, 2012 by bigthink
Bruce Bueno de Mesquita argues that gerrymandering gives incumbents a wildly unfair advantage.

Bruce Bueno de Mesquita is a senior fellow at the Hoover Institution and the Silver Professor of Politics at New York University. He is an expert on international conflict, foreign policy formation, and nation building. His current research focuses on the links between political institutions, economic growth, and political change. He is also investigating the causes and consequences of international conflict as well as national security policy forecasting and analysis.

Transcript–
Bruce Bueno de Mesquita: We might ask rhetorically, whose taxes does President Obama want to increase? The standard journalistic response is the rich. My preferred response if republicans. The republican voters are disproportionately wealthy and he wants to tax republicans to reward democrats. They want to cut spending in order to reduce the deficit and where would they like to reduce spending entitlements? Who disproportionately benefits from entitlements? The relatively poor who disproportionately vote democrat. The republicans want to punish the democrats to reward their constituents. The democrats want to punish the republicans to reward theirs. How might we fix this? Well it would be nice for example if we the people elected the congress instead of the members of congress choosing who their voters will be. Gerrymandering insures that the congress gets to pick its voters rather than the other way around. So the probability of being reelected as an incumbent in the congress is 95%, almost as high as it was in the old Soviet Union of being reelected to their parliament. We have a rigged system. We could fix that. There are lots of excellent political science studies on how to design redistricting so that it’s completely nonpartisan. It’s entirely one person, one vote subject to geographic constraints and topology. We could write computer programs that do redistricting.

Now no member of congress is going to agree to that in the short term because that would put her or his hold on power at risk, but if we were to pass a law that says starting in 20 years or 25 years this program will be used to do redistricting we would have solved the problem of the voters not choosing their members of congress and that would go a long way to altering the risk of being thrown out of office if you don’t do what the people want and we would get much better policy, but that is very far down the road. Shorter term, also hard to do. We could get rid of the Electoral College. It’s useful to remember that when people speak about standing by the original constitution and so forth, being strict constitutionalists, the Electoral College was designed as a slavery institution. We got rid of slavery. We haven’t gotten rid of this slavery institution. We ought to. That too would insure that presidents would be more responsive to a still larger coalition and that would mean doing more of what we the people want.”

Directed / Produced by
Jonathan Fowler and Elizabeth Rodd

http://bigthink.com/


“In the presidential race alone, Wall Street’s loyalties are clear: Those employed in securities and investment have given $10.5 million to Mitt Romney and $3.8 million to President Barack Obama, opensecrets.org

Source: usatoday.com

The U.S. government devoted 24.3 percent of its expenditure to health care last year. And the total health care expenditure was 18 percent of GDP and had been rising 50 percent faster than GDP. If the trend is unchecked, the U.S. government and the country as a whole are heading towards bankruptcy.

The Trend Is the Problem

The U.S. national debt has been rising at 9.3 percent per year since 2000 and, excluding the debt held by government accounts like social security trust fund, 10.8 percent per annum. In the past decade, the federal government’s debt has increased by 156 percent. The U.S. government forecast is for gross debt to rise at 5.7 percent over the next four years. Considering what has occurred in the past and accelerating expenditure associated with aging, it is hard to see how the debt will slow down so much. Of course, one could always assume better revenue collection in the future, which isn’t likely. The U.S. economy may be stuck around 2 percent growth rate for the next decade. If so, government revenue would be less than expected and the debt may continue its past trend.

The odds are that U.S. government debt will rise five percentage points above nominal GDP. In a decade, total government debt would surpass 200 percent of GDP, similar to Japan today. While Japan’s high level of government debt is entirely funded by domestic savings, the same cannot be said about the United States. The United States imports 4 percent of GDP in capital per year. When its government debt reaches 200 percent of GDP, foreign capital is likely to panic. A currency-cum-debt crisis is likely to follow. Basically, the United States’ current trend is not sustainable.

Text Source: english.caixin.com/


Image Credit: wemeantwell.com

The President sits in a room having assigned himself, with his aid John Brennan, his counter-terrorism adviser, a global responsibility giving his Presidency a novel power, that is to Kill and without other government oversight, (Source: New Yorker by Amy Davidson).

How Obama Maintains His Secret ‘Kill List’

Published on May 29, 2012 by PBSNewsHour
Drone strikes on militant targets in Yemen are on the rise, as are targeted killings of insurgents there and elsewhere. But who has the final say on the so-called kill list of terrorists slated to be killed or captured? Ray Suarez introduces an excerpt from a new “Frontline” then speaks with New York Times reporter Scott Shane.

 

“But how are we deciding who a terrorist is? In some cases, we don’t even know the names of people we’re killing, in countries where we are not actually at war. In others, we do know their names, and don’t care who dies with them. (In one strike, in which the identity of the man was known, according to the Times, Obama made a deliberate decision to kill his wife and in-laws along with him.)” (Quote Source: New Yorker by Amy Davidson).

Click Graphic to Enlarge


Graphic Source: thebureauinvestigates.com

Jeremy Scahill explains the steps taken by the Bush administration and extended by the Obama administration in order to circumvent Congress and carry out targeted killings.

Jeremy Scahill: A Short History of Drone Warfare


(Reuters) – Another showdown between Republicans in Congress and President Barack Obama over debt could be in the making, and some investors are already taking steps to prepare for it.


Image: (Pete Souza/White House)

Members of the Institute for Truth in Accounting are often asked what important issues face the nation.  Here’s a list of several we consider important. 

1. The accumulating federal debt of more than $59 trillion dollars.  This includes explicit debt, debt internal to the federal government and the net present value of the current statutory entitlements.  What’s worse, the debt grows at $2-3 trillion each year.  The debt grow $5 trillion in 2008 alone.

2. The aging baby-boomers will put extraordinary pressure on the nation’s economy as they begin to collect on the social programs to which they are entitled.  The combination of increasing medical costs, the extension of life expectancies and the sheer number of beneficiaries makes this situation unsustainable.

3. The trade imbalance with the rest of the world.  Essentially we are consuming more than we produce and the consequence is that we must spend about 1% of all the wealth America has ever accumulated to foreigners, every year.  Symptoms of this problem include a falling dollar, higher oil prices, and a long-term decline in national living standards.

4. Accounting principles and metrics our government uses to explain our financial condition are deficient and do not provide objective and comprehensive understanding of our fiscal challenges.

5. The lack of solutions to solve these problems indicates the largest problem—a lack of political will to solve them.  This leadership vacuum is the biggest challenge we face and it occurs because no constituency for sustainability exists.

Source: truthinaccounting.org/

Federal Debt: 1800-2035, Peter G. Peterson Foundation

Did You Know: Congress Exempts Itself From Including the Cost of Promised Retirement Benefits in Stating Debt?

Source: Institute for Truth in Accounting (IFTA), an organization dedicated to promoting honest, accurate, and transparent accounting at all levels of government.

Draft David Walker for President

Who We Are

The Institute for Truth in Accounting is an unaffiliated, nonprofit organization created by Sheila Weinberg, a former Certified Public Accountant, in 2002. Its goal is to ensure that public and private organizations provide truthful financial information useful to a wide variety of users. The Institute is dedicated to the development of standards and awareness that timely, informative and reliable information is the basis for knowledgeable economic and political decisions.

The Institute is particularly interested in governmental accounting, at all levels. As the world’s largest fiscal organization, the U.S. government must be the leader in providing complete and understandable financial information. State and local governments’ accounting standards no longer adequately report the scope and scale of obligations assumed by these jurisdictions.

SOURCES: Data from the Peter G. Peterson Foundation’s Long-Term Model of the Federal Budget, Baseline Assumptions; the Congressional Budget Office, Long Term Budget Outlook: June 2009; and the Office of Management and Budget, The Budget of the United States Government, Fiscal Year 2013: February 2012. Compiled by PGPF.