This Week’s Democratic Campaigns and GOP Agitprop

Joe Biden will Not Run for President

Swipe Right for Hillary

Bernie Sanders Explains Social Security

O’Malley on the Need for New Leadership


Clinton vs. Sanders vs. O’Malley On Fixing Banking
How do we fix Wall Street, a.k.a. “the banks”? How do the candidates compare? … The first place to look, of course, is CAF’s Candidate Scorecard … Clinton’s 63 percent rating is primarily based on not having a position on a financial transaction tax … as well as opposing reinstating some form of a Glass-Steagall Act and a lack of specific proposals related to the categories “Break Up Big Banks” and “Affordable Banking.” Meanwhile, Sanders rates 100 percent … O’Malley is stressing his positions on and independence from Wall Street [and] also has a 100 percent…

Blue States Make Voting Easier as Red States Add Restrictions
“In Illinois, a new provision allows voters to register electronically when they visit various state agencies. And in Delaware, some residents with criminal records will regain the right to vote … In Republican-controlled states, the story is different. North Carolina has instituted a new voter ID requirement. North Dakota has narrowed the forms of identification voters can present … Ohio’s GOP-controlled legislature has instituted … shorter early voting hours.” Meanwhile, here at home in Nevada, folks who wish to participate in the Democratic County Caucuses will enjoy the ability to “same-day” register to participate, while Republican caucus goers will need to have registered at least 10 days prior to the caucus date AND will be required to present a government issued photo ID card … no indication as to which will be allowed and which will not (e.g., will VA photo IDs be accepted?).

Ex-Gov turned Democrat Charlie Crist announced a run for U.S. House
On Tuesday, ex-Gov. Charlie Crist announced that he would run for the St. Petersburg FL-13 seat. Crist said all the way back in July that he’d run for this seat if he lived in it after redistricting, so this announcement was no surprise. However, Republican Rep. David Jolly, who is leaving this district behind to run for the Senate, unexpectedly crashed what would have otherwise been a routine campaign kickoff. Jolly told reporters that he cares too much about the seat “to lay down and let this huckster walk into office.” Republicans utterly hate Crist, who left the party in 2010, so this kind of stunt certainly won’t hurt Jolly’s chances in the GOP primary.  If Crist wins, he’ll be one of only a few ex-governors to be elected to the House. The University of Minnesota’s Smart Politics blog finds that in the last half-century, only four other ex-governors have done this, and none of them had run a state anywhere near as large as Florida.

Meanwhile in the House of Representatives, the Freedom Caucus is vowing not to play nice —all this at a crucial time when some pretty critical votes will need to be taken:

  • A vote to raise the debt limit to avoid a default on our nation’s debt. House RW budget hawks are looking again at hijacking any efforts to raise the debt limit to pay for expenses they already authorized.  Expect new attacks on medicaid, medicare, social security and planned parenthood. And then there’s Teddy Cruz, urging GOP members to take an absolute hard line against any efforts to pass a “clean” bill to raise the limit to pay for the spending they already authorized.
  • A vote will be needed to pass a fiscal budget, not yet another let’s kick the can down the road continuing resolution to extend the current (previous) budget that was passed,  and
  • A vote will be needed regarding the Iran Deal, which the US and other foreign nations have already begun to implement regardless of any approval/disapproval from our disfunctional Congress.

November should prove quite interesting. But, if all of that that is not enough agitprop for your tastes, Speaker Boehner is proposing that it’s possible that they could actually “repeal Obamacare” by the end of the year. What is he smoking, drinking or otherwise ingesting?  Apparently he thinks President Obama is just gonna roll over and sign onto their repeal efforts taking away any and all opportunities for millions of Americans to be able to purchase health care insurance.  Somebody needs to throw some ice water in his face and yell “Wake Up Bozo!”

  • Rep. Paul Ryan announces speaker bid, with conditions. NYT: “…Ryan called for … an end to the antics of ‘bomb throwers and hand wringers,’ according to members in the room … He suggested that he wanted an answer by Friday. Mr. Ryan made it clear that he would not accede to preconditions set by ‘one group,’ a clear reference to the members of the hard-line Freedom Caucus…”
  • Freedom Caucus resists. Politico: “They were dismissive of his Ryan’s request that they relinquish a procedural tactic they used to threaten to strip outgoing Speaker John Boehner of his title – one of the most potent weapons in the group’s arsenal.”
  • Paul Ryan’s Conditions for House Speaker Bid Meet Early Resistance, Bloomberg: “How does giving Paul Ryan more power solve the problem of John Boehner having had too much power?” Rep. Tim Huelskamp tells Bloomberg.

 

Such Short Memories: The Worst President Since World War II? Uh, Guess Again!

Reblogged from mykeystrokes.com:

When George W. Bush was inaugurated president of the United States on January 20, 2001, the unemployment rate stood at 2.4 percent. By the time Dubya completed his second term in office on January 19, 2009, the unemployment rate at risen to 7 percent. When Dubya took office in 2001, he was left with a budget surplus of $127.3 billion. When he completed his second term, he left a budget deficit of $1.4 trillion.

Read more… 639 more words

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If This is What it Means to be “Conservative” — I’m Proudly a Bleeding Heart Liberal

Clearly, members of the GOP in the House are all about looking for ways to handicap ANY organization tasked with performing regulatory actions that might impede their ideological plans for the future of the United States of Republica.  A case in point is this recent  press release from Representative Amodei’s office.  My comments are in blue italics at various points throughout his release.  Some original text has been highlight in RED for emphasis.

Amodei: Appropriations Financial Services bill reins in IRS, ACA and Dodd Frank

Wednesday June 18, 2014

FOR IMMEDIATE RELEASE                                 Contact:    Brian Baluta, 202-225-6155

WASHINGTON, D.C. – The House Financial Services and General Government Appropriations Subcommittee today passed its fiscal year 2015 bill, which would provide annual funding for the Treasury Department, the Judiciary, the Small Business Administration, the Securities and Exchange Commission and several other agencies.

The bill totals $21.3 billion in funding for these agencies, which is $566 million below the fiscal year 2014 enacted level and $2.3 billion below the president’s request for these programs.The legislation prioritizes programs critical to enforcing laws, maintaining an effective judiciary system and helping small businesses, while targeting lower-priority or poor-performing programs – such as the Internal Revenue Service – for reductions.

Well now, that makes just a ton of sense.  IRS is tasked with collecting revenue necessary for the operation of various government operations … so let’s under fund them so we can then make a scapegoat of them when they can no longer effectively perform their regulatory and tax-collecting functions.

“Every day, I am asked, ‘Why don’t you do something?’ This bill ‘does something’ by removing funding from executive agencies that have become political tools of the administration,” said Amodei.   

Bill highlights:

Internal Revenue Service (IRS)– Included in the bill is $10.95 billion for the IRS – a cut of $341 million below the fiscal year 2014 enacted level and $1.5 billion below the President’s budget request. This will bring the agency’s budget below the sequester level and below the level that was in place in fiscal year 2008. This funding level is sufficient for the IRS to perform its core duties, including taxpayer services and the proper collection of funds, but will require the agency to streamline and make better use of its budget.

Interesting! They continually carp about the IRS not providing for an EMAIL BACKUP strategy as part of their business plan. Server BACKUPs are NOT FREE!  How much more will they stop BACKING UP because they no longer have sufficient funding to do their tax collection duties, let alone ancillary functions like BACKUPS, SYSTEM UPDATES, SOFTWARE IMPROVEMENTS, etc.?

In addition, due to the inappropriate actions by the IRS in targeting groups that hold certain political beliefs, as well as its previous improper use of taxpayer funds, the bill includes the following provisions:

Here we go again, perpetuating the falsehood that ONLY right-wing political groups were scrutinized, when it was actually liberal groups that were denied with some that had already been given tax-exempt status seeing that status revoked (e.g., EmergeAmerica affiliated groups).  NO politically-focused groups should be receiving TAX-EXEMPT 501(c)(4) status, PERIOD!

A prohibition on a proposed regulation related to political activities and the tax-exempt status of 501(c)(4) organizations. The proposed regulation could jeopardize the tax-exempt status of many non-profit organizations and inhibit citizens from exercising their right to freedom of speech, simply because they may be involved in political activity.

Sorry, but I don’t get to deduct my “freedom of speech” contributions to political endeavors.  Thus, NO politically-focused organizations should be able to have a free of tax right to free speech at the American Taxpayer’s expense!

A prohibition on funds for bonuses or awards unless employee conduct and tax compliance are given consideration.

A prohibition on funds for the IRS to target groups for regulatory scrutiny based on their ideological beliefs.

Congress passed a law that clearly states that to be considered 501(c)(4) organization, your activities must be EXCLUSIVELY-FOCUSED on “Social Welfare” activities.  Politically-focused activities are NOT social-welfare activities and thus, it IS the IRS’s responsibility to scrutinize and deny tax-exempt status to ANY organization (conservative, liberal or otherwise) not meeting that exclusivity provision.

A prohibition on funds for the IRS to target individuals for exercising their First Amendment rights.

More BS related to the previous proviso — the IRS is NOT prohibiting ANYONE from exercising their free speech.  The IRS is merely and rightfully determining whether a group is a group exclusively devoted to providing SOCIAL-WELFARE opportunities/activities and thus, whether that group is entitled to TAX-EXEMPT status!

A prohibition on funding for the production of inappropriate videos and conferences.

Really?  Oh, please, pray tell, what “inappropriate videos” might it be that the IRS is producing?

A prohibition on funding for the White House to order the IRS to determine the tax-exempt status of an organization.

Again, if you want to allow any organization wanting to conduct EXCLUSIVELY politically focused activities to never have to pay taxes, well then, you need to REPEAL the law that PROHIBITS them from being tax exempt!  You cannot have a LAW on the books that says one thing and then prohibit the IRS, which is responsible for administering that section of the law, from enforcing it!

A requirement for extensive reporting on IRS spending.

Affordable Care Act (ACA) –The bill also includes provisions to stop the IRS from further implementing ObamaCare, including a prohibition on any transfers of funding from the Department of Health and Human Services to the IRS for ObamaCare uses, and a prohibition on funding for the IRS to implement an individual insurance mandate on the American people.

Well, let’s see.  We elected President Obama and a Democratic Congress to get health care reform. Then, the Republican propaganda machine bought a Republican House.  Despite their efforts to gerry-rig the system, we still re-elected President Obama. Health care reform is one of the hardest things we’ve ever worked on. But no matter, they just keep trying to either LIE ABOUT REPEAL or DEFUND access to healthcare for the American People despite its need or popularity.

Securities and Exchange Commission (SEC)– Included in the bill is $1.4 billion for the Securities and Exchange Commission (SEC), which is $50 million above the fiscal year 2014 enacted level and $300 million below the President’s budget request. The increase in funds is targeted specifically toward critical information technology initiatives. The legislation also includes a prohibition on the SEC spending any money out of its “reserve fund” – essentially a slush fund for the SEC to use without any congressional oversight.

In addition, the legislation contains requirements for the Administration to report to Congress on the cost and regulatory burdens of the Dodd-Frank Act, and a prohibition on funding to require political donation information in SEC filings.

My my, lookie here — looks like an increase in funding.  But wait, isn’t this the organization that’s supposed to regulate Wall Street?  It’s a shame that the increase in funding is just for a bit of information technology so they can determine how their GOP-Donor base is affected by any sort of regulation.  It’s also despicable that they’ve included a proviso that PROHIBITS any reporting of information as to Corporate political donations.  If you and I donate, our freedom of speech is broadcast for all to see … but the Republican Donor-base has a special privileged secreted freedom of speech.  Apparently the Republicans believe their Donors are free to speak with their Dollars, but the general American public is underserving of being able to speak with their dollars in response.

Consumer Financial Protection Bureau (CFPB)– The bill includes a provision to change the funding source for the CFPB from the Federal Reserve to the congressional appropriations process, starting in fiscal year 2016. Currently, funding for this agency is provided by mandatory spending and is not subject to annual congressional review. This change will allow for increased accountability and transparency of the agency’s activities and use of tax dollars. The legislation also requires extensive reporting on CFPB activities.

The Republicans have done EVERYTHING conceivably possible to handicap, repeal, defund and decapitate the Consumer Financial Protection Bureau (CFPB).  This is yet their latest attempt to defund and cripple any and all Consumer financial protection at the behest of their Donor-base.

Are We Returning to a Path of Owing Our Souls to the Company Store?

The Center for American Progress recently completed two related reports that are read-worthy:

Cash for Homes: Policy Implications of an Investor-Led Housing Recovery

Across the country, investors have been taking advantage of the nation’s foreclosure crisis to purchase homes at bargain prices, often beating out potential homeowners who have been a bit hesitant to purchase, frequently choosing to sideline themselves. In July 2013, cash-on-hand investors bought about 55 percent of the homes sold in Las Vegas and numerous properties in other major metropolitan areas such as Miami, Phoenix, and Prince George’s County, Maryland, a suburb of Washington, D.C.

Investors can play a key role in a housing recovery. By absorbing excess inventory, they establish a floor for home prices and jump-start appreciation. Responsible investors can also offer quality, affordable rental opportunities to families who may be locked out of home ownership due to foreclosure or lost wealth from the recession.

But while they can support communities, irresponsible investors can also destroy them by allowing properties to sit empty, declining to bring rental properties up to code, and neglecting tenants’ needs in instances where the home is occupied. Additionally, investors that buy large quantities of properties in a single area can cause prices to overheat and increase market volatility. Conversely, if institutional investors following a set business plan sell numerous properties in the same time frame, prices in those neighborhoods could decline again.

Read this full PDF report here

When Wall Street Buys Main Street
The Implications of Single-Family Rental Bonds for Tenants and Housing Markets

In October 2013, an institutional investor created the first triple-A-rated, mortgage-backed security supported by revenue from single-family rental properties, a development that may offer even lower-cost financing to institutional buyers than has been available thus far through bank credit lines. A mortgage-backed security is created by pooling assets together and then selling interests in that pool to investors, who then receive regular payments from the asset pool. This process provides access to a much larger pool of investors than would otherwise be feasible, increasing liquidity and generally providing a less expensive source of funding than traditional borrowing from banks or private investors.

In this instance, a subsidiary of the private equity firm Blackstone took out a $479.1 million loan from Deutsche Bank that was secured by a pool of more than 3,000 single-family rental homes. The loan was then turned into a security that was purchased by investors, who now receive monthly rental cash payments from the homes. If the loan is not repaid, the trustee—the legal representative of the bondholders—has the right to seize the homes.

The emergence of a new form of mortgage-backed securities tied to single-family rentals is certain to have an impact on the housing market, communities, and tenants. Analysts predict that the funding of single-family rental acquisitions through securitization will likely become a dominant model quickly; American Homes 4 Rent and Colony American Homes, two new single-family rental firms, are reportedly preparing to launch single-family rental bonds in the coming months. The market for this new asset class is expected to top $70 billion per year by 2016, on par with the bond financing for apartment buildings, casinos, and commercial real estate for this year. While institutional investors only represent a fraction of those in the housing market—mid-sized companies and small mom-and-pop investors who own less than 10 properties are currently far more prevalent in most markets—securitization may begin to shift this balance.

Depending on the success of this new asset class, investor appetite for these types of bonds may boost the size and scope of this relatively new and untested industry to a level that may not be sustainable, either because the industry does not have the capacity to manage thousands of new homes or because a significant increase in purchases inflates home prices.

Read the full PDF Report here.


This material above was created by the Center for American Progress Action Fund. It was created for the Progress Report, the daily e-mail publication of the Center for American Progress Action Fund. Click here to subscribe.

39 Days left in this Congressional Session

Congress is back on today from August recess, and it faces two big issues in its first full week of work:  whether to approve military action in Syria and a 2014 federal spending.

Authorizing Military Action in Syria 

On Aug. 31, the President sent Congress draft legislation that would authorize use of the US military “in connection with the conflict in Syria.” In the past week, more than 2,700 POPVOX users weighed in on the President’s proposal — overwhelmingly in opposition — and even the media took note: Check out POPVOX on NBC news and The Hill.

Last week, the Senate Foreign Relations Committee approved its resolution to authorize the limited and specified use of the US Armed Forces. The resolution allows up to 90 days of military action against Syria, and due to a bipartisan amendment in committee, it allows the Administration to take steps to change the “momentum on the battlefield” to help Syrian rebels.  Weigh in on the Senate’s resolution at POPVOX.

  • The resolution passed the Senate Foreign Relations Committee in a close 10-7 vote, and the Obama Administration will be pushing Senators to support it before this week’s vote. It’s not yet clear if the Senate can pass the resolution given scant public support for a new military campaign, even one that the Administration says would be very limited and would not involve ground troops. Meanwhile, House leaders have indicated they would let the Senate act first, and might consider Syria language later in the month. There’s also a chance the House doesn’t vote at all, particularly if the Senate fails to pass its language.

Learn more and find other bills related to Syria in PopVox’s Issue Spotlight.

2014 Federal Spending 

The House will take the lead on 2014 spending, by considering a short-term continuing resolution. The plan is to allow the government to operate for the first few months of the new fiscal year, so Congress can spend time working on a debt ceiling agreement. As of Friday, the House had not revealed the text of the continuing resolution it hopes to pass.

Also in the House

The No Subsidies Without Verification Act (HR 2775): would prohibit any federal subsidies for Obamacare’s health insurance exchanges from being provided until there is a system in place that verifies eligibility as outlined by current law, according to the bill sponsor.

  • HR2775 reflects Republican disapproval of an Obama administration decision not to verify eligibility of people receiving subsidies. Many Republicans said failing to see if people qualify for these subsidies will only lead to more demand for the payments, which would drive up the costs of Obamacare.

Finally, the House will consider several suspension bills early in the week, including several Senate land use bills:

As you can see, Immigration Reform is nowhere on the House agenda at this point.