**As Elizabeth Warren and Amelia Tyagi point out in their forthcoming book "The Two Income Trap," today's two-income families earn 75% more money than their single-income counterparts did a generation ago, but they actually have less money to spend. For many, personal bankruptcies have become the rule rather than the exception. This year more children will live through their parents' bankruptcy than through their parents' divorce.**
is divorce down? -lol- actually, most of these folks started their spiral in the clinton years of easy "crack" money... he's hacking the party line.
**In about 500 days, the next president will take office. There will be an inaugural address, full of talk of promises and hopes. Let us hope the next inaugural speech holds up better in the perspective of history than the last one.
Promising a "compassionate" administration, President Bush pledged to "recover the momentum of our economy," "reward the effort and enterprise of working Americans" and confront economic problems now, "instead of passing them on to future generations." Instead, he's offered tax cuts that don't address our needs, and saddled our children with debt for generations to come. On this president's watch, the federal debt has grown by over $1 trillion. That's the rough equivalent of putting $3,500 on the charge card of every American.**
this, unfortunately, is true.
**How did our nation come to this place? The answer is simple -- the economic policies of this administration are aimed at ideological goals, not help for the average American.**
i will agree, however, i will not give clinton a pass. he did EXACTLY the same thing by fomenting the largest bubble in the history of the world... the bust is inevitable.
**We can do better. As president, my economic policies will be focused and clear. I will begin by repealing the 2001 and 2003 tax cuts, and using the revenues that result from the repeal to address the needs of the average American, invest in the nation's infrastructure and, through tax reform, put money in the hands of those most likely to spend it.**
how about pay down the debt?
**The task of meeting the needs of American families begins with health care. My plan will not only insure millions of Americans who are without adequate care today, it will reduce costs for small business, states and communities -- freeing up funds that can be used to grow businesses and meet other national and local priorities.**
sounds liek fuzzy math to me.
**An important part of my program for a full-employment recovery will be extending a helping hand to states and communities. My policies as governor kept Vermont strong fiscally; but all over America, the financial resources of other states and cities are strained to the limit. Teachers are being laid off, highways lack repairs, firehouses are closed. Instead of tax cuts that have not created jobs, we need to make investments in America. I will increase federal aid for special education, and provide more temporary help to the states -- for homeland security and school construction and infrastructure modernization. And I will increase the availability of capital for small businesses, so that they can invest in new technology and create more jobs.**
debt?
**No program for economic recovery and growth can ignore the tax system, particularly the bizarre collection of tax expenditures, preferences, credits and deductions which has directed revenues away from the federal treasury and into uneconomic tax avoidance schemes. Average Americans pay their taxes through withholding or quarterly estimates. Meanwhile, corporations and multinational enterprises take advantage of elaborate tax shelters, and billions go uncollected. The need for reform is obvious and compelling, and I will give tax reform a top priority in my administration. But unlike the tax initiatives of the current president, my program of tax reform and relief will be targeted to the average Americans who are struggling to make ends meet -- not those whose needs are well provided for.**
that sounds reasonable to me. those who own 70% of america ought to pay 70% of her bills. very fair.
**Finally, maintaining fiscal discipline is essential to long-term growth; discretionary spending must be sustainable, and the federal budget must be balanced over the business cycle.**
what? sounds like he's using "business cycle" to excuse his not balancign the budget right away.
**I balanced every budget during my 11 years as governor, despite the fact that Vermont is the only state with a constitution that doesn't require a balanced budget. To keep spending in line, I will not be afraid to use the veto -- a power President Bush has yet to exercise.**
i hope so!
**Some of these measures will be unpopular, and many will be opposed by the special interests. But the next president must take swift and decisive action to restore the economic well being of our nation's families. They need meaningful jobs at good wages. They need the security of health insurance -- no matter how old or young they may be, and without regard to their economic status. They have the right to educate their children to the limits of their abilities, not the limit of their pocketbooks, and to look forward to a secure retirement. In short, they expect a better deal, and deserve no less.**
sounds expensive. |
