February 22nd, 2009
coming in HOT
February 21st, 2009
More as opposed to less stimulus
Barack Obama has been president for almost a month and the change relative to the last eight years is strikingly evident. Policies and ideas never considered are already enacted and taking form. However, this triumphant shift has the meager Republican Party frightened of being completely steam rolled. On Tuesday, the $789 billion dollar stimulus package passed with zero Republican votes in the House and three in the Senate. The bill gives significant funds to renewable energy and energy efficiency programs, school construction, science and technological research and other government services like unemployment insurance. The final bill was watered down due to Republican dissent, which created a weaker bill with more tax cuts and cutting $80 billion in overall spending.
On the other hand, large sums of money are going to areas of the economy that are in dire need, some of which, like renewable energy have never received a fraction of the attention they are now. So even though the bill was severely tarnished, relative to the last eight years there is a lot to look forward to.
The overall idea of the package is absolutely prudent considering the state of the economy, albeit, much of the spending is just resetting funding levels slashed by the previous administration. In the last eight years unemployment insurance, healthcare, and state and local governments funding has experienced huge cuts all helping to deep the recession. Specifically, $40 billion to extend unemployment benefits, $48 billion on transportation projects, $24 billion for unemployed health insurance (COBRA) and $50 billion for energy programs, focused chiefly on efficiency and renewable energy. The bill does take notable steps in the right direction in terms of funding for science and research, and renewable energy however; significant cuts were made in the most effective spending measures.
A total of about $80 billion was cut from the bill in the end with the most drastic cuts coming from state aid, which cut $40 billion and school construction, which lost $16 billion. Both of which can create jobs immediately as well as sustain them in the longer term. Other key cuts include $600 million cut in No Child Left Behind, and halving of the funds for federal building energy efficiency down to $3.5 billion.
Critical cuts came in the most effective programs, things that can be distributed and used quickly like money to state governments. What is worse, approximately $70 billion dollars worth of tax cuts were added to the bill which will be ineffective at creating jobs or any other stimulus. Food stamps were thinned down, as well as unemployment benefits; both services that can be distributed quickly and heavily impact families’ ability to remain solvent. Last week, almost 4.8 million people collected unemployment insurance, the highest weekly number in 40 years. The bill includes $282 billion in tax relief, mainly for the wealthy, which will probably not be spent, and $507 billion in spending.
The right side has relied on a faith based ideological economic theory as the means to oppose government spending and promote tax cuts. The clichés and rhetoric chanting for less government interference are laughable, especially at a time like this. As President Obama has repeatedly noted, the theories and policies of the past eight years have been directly responsible for the current state of the economy. Less government has lead to less everything. Lower median income levels in 2007 than in 2000, home prices dropped 16 percent in a year, 46 million people under the age of 65 do not have health insurance, 3.5 million fewer people have jobs today than in the beginning of 2008. The government has done less and we now have less, of everything. In tandem with less government regulation is the supposed worry by Republicans about the deficit and over spending, however spending billions on the Iraq War seemed to be okay for the deficit worriers. The arguments against spending and for tax cuts are absolutely incoherent and intolerable considering the magnitude of this crisis. Tax cuts do essentially nothing to stimulate the economy and get people working in the short term, because a lot of that money would be saved by the wealthy whereas direct government spending is spent right away creating jobs as well as a useful resource, such as schools and bridges.
Some have become worried that this has struck at the momentum of the Obama administration and will chip away at its effectiveness to lead. Indeed, significant cuts in key spending areas were made and the allusions of bipartisanship disappeared in the wake of the political process, but the strength of the Obama administration has the right clinging to whatever they can. As a result, the American economy is being short changed by a weak and slow package. The economy is in its worst shape in decades and is going to get worse for longer than people realize. The only tool left is government spending that matches the magnitude of the problem, which is huge.
Overall, the stimulus plan falls short in size, timeliness, and targeting. However, the loss of recognition for the massive shift our country is making relative to where we were heading until a month ago would undermine the progress we have made. Big important changes are leading the country in a new direction. Proactive ideas about health care, America’s role internationally and the way we produce and consume energy were dreams in recent years, and now they are actually happening. While it is easy to become furious with Republicans erratic and baseless arguments, the fight for a working government that provides social safety nets and desired public goods has been long coming and it must not be taken for granted. The opportunity to finally fix these much-neglected sectors of our economy is inspiring, and yes hopeful.
February 17th, 2009
Let this marinade a minute…
Bunty Aur Babli (Hindi: बंटी और बब्ली, Urdu: بنٹی اور ببلی, translation: Bunty and Babli), released in 2005, is an IndianBollywood film directed by Shaad Ali and starring Amitabh Bachchan, Abhishek Bachchan, and Rani Mukerji. It was the first film to feature both Amitabh Bachchan and his son Abhishek Bachchan, and featured guest appearances byAishwarya Rai and Tania Zaetta. It was one of the biggest hits of the year.[1]
The plot, although it draws on the idea of two rather lovable crooks (much on the same lines as the 1967 Hollywoodfilm Bonnie and Clyde starring Warren Beatty and Faye Dunaway), does not contain much violence. In fact each of the adventures of Bunty and Babli are thoroughly Indianised, like the fake selling of the Taj Mahal.
February 12th, 2009
Art in Revolution
Came across this video of a Charlie Rose interview with street art legend Shepard Fairey; the man behind streetwear giant Obey propaganda, and the infamous Obama poster that was the ‘voice’ (per se) of our new presidents campaign. Like the man/art or not, Shepard Fairey has been one of the most influential street artist of our time. Its amazing how his one simplistic image captured the attention of not only everyone in the country, but also the entire world as one unified voice for change.
Follow up: we all know you can never go wrong with the man, Charlie Rose.
February 12th, 2009
Searching for the essence of buntiness far and wide
The best thing about life in London is that when I get in the lift up to my flat the senses are overwhelmed with the long-lasting spicy aromas of the countless curries and saag paneers and other delicious Indian dishes that have been carted up before me.
The worst thing about life in London is that I know I’m exiting the lift to beans on toast.
A breakthrough today though: having landed a hot unpaid internship, I’ve been hit with a clearly false fiscal hubris and splurged on 6 free-range eggs courtesy of Colombian Blacktail hens. Beans on eggs on toast.
To make matters more challenging, a new study released in this country argues that the use of cannabis in young gents increases the likelihood of an aggressive form of testicular cancer that attacks in the twenties and thirties by some 50 or 60 percent! Persistent use increases the likelihood even more… This empirical gem of a study coupled with the recent governmental decision to upgrade the garden green from class C to B spells trouble.
Is this a ploy to force a young man in these turbulent times to choose between the two most reliable things in his life, testes and tokes?
If one has chosen to sacrifice the bake for his beefsteak, he could do far worse in attempting to fill the void than dedicating the extra funds to taking in the pre-match outside the stadium rituals of fans of the Brazilian national football squad. At Ashburton Grove a.k.a. the New Home of Football a.k.a. the Emirates Stadium, where the Arsenal work their magic (failing to score over 90 minutes despite having 75% of possession and in turn frustrating some 60,000 folks into an unspeakable baffled anger), the Italians and the Brazilians faced off in a “friendly” match Tuesday night. The friendly (i.e. meaningless) football match with the drums and dancing of the Brazilians and the Italians outside the ground created a careless feast of smiles, beats and beautiful ladies that offered a bold contrast to the nervousness usually gripping the throngs nearing recent Arsenal clashes.
Whether or not these are the actions of bunters or harmless punters I’ll never know but if I could scrounge a few quid I bet I’d be able to find out. Maybe just one more spliff will help…
February 10th, 2009
Buntyness … in The News
A journalist? ... or a bunty hunter?
Newspapers are getting sucked down the poop tube face first … thanks to the GOD DAMN INTERNET (pyrotechnics) … I still had my job today … tomorrow???? Meh!