I was around when cheap Japanese cars entered the country. Detroit ignored them and tried to build barriers to entry. This went on for years while the Japanese got better and better at building low cost, high quality cars. The US auto industry was fat, dumb, and happy and did not improve their product until the competition started to eat their lunch. Isolationism will always catch up with you eventually. If you want to keep your markets, you must offer competitive products that provide the consumer real value.
When I graduated from high school in 1962, my husband and I bought a house and two cars within the next few years, on what he was making on a job he got right out of high school. Most of the guys I graduated with did the same. I didn’t work, few women did, and those who did actually chose to do so. Now, it isn’t really a choice for most women, unless they don’t mind living in poverty. When I decided to become a teacher, my first quarter’s tuition at a state university was $79, and we rented any books we needed for $20. Anyone could go to college with just a part time job to pay for it.Since that time, the GNP has skyrocked and the American worker is acknowledged to be the most productive in the world. But, all of the value they are producing is going to the top 1%. The Middle Class standard of living is declining, and a college graduate hasn’t anywhere near as easy a time as we had with just high school. We produce the highest quality goods on earth, and we can’t afford to buy them. A young person told me a while back that I couldn’t really understand why their generation was so angry.What I actually don’t understand is why they aren’t rioting in the streets.
Rubio’s personal financial mismanagement is indicative of an imprudent and juvenile attitude towards his personal finances. It sort of reminds me of the lottery winners who are broke within two year after winning millions. Rubio found a sugar daddy in politics (especially former Eagles owner Norman Brennan (sp?)) and couldn’t help himself. It’s a sign of emotional immaturity common to those who can’t delay gratification and be financially prudent. It’s an attitude that you certainly don’t want in a president. Personal financial prudence is a virtue that’s lacking among many of us, not just right wing politicians. National financial prudence is even more important, but of a somewhat different character. Sovereign nations are not like individuals or families. There are parallels, of course, but the finances of a nation often reflect the financial attitudes of its population. In this regard, Rubo probably not only mirrors the Republicans but also the majority of Americans. Democrats are not exempt from financial mismanagement, of course, but the Republicans seem to base things on an ideology that’s been proven wrong. See, for the most recent example, the state of Kansas.
”The appropriations bills for fiscal years 1990 through 1993 were signed by Bill Clinton’s predecessor, George H.W. Bush. Fiscal 2002 is the first for which President George W. Bush signed the appropriations bills, and the first to show the effect of his tax cuts” ”The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year, and that Republicans incorrectly claim is the “largest tax increase in history.” http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/This is one of my main gripe with Republicans, they complain about the budget deficit and the debt. They had control of all branches of government for six year and inherited a budget surplus. We could have started making a dent in the debt. Instead, the Republicans decide to start an unfunded war asking nothing of the American public (like the Greatest Generation did), and tax cuts (2001 and 2003) that added to the budget deficit and debt. The 2001 tax cut: “A report published by researchers with the Heritage Foundation claimed that the cuts would result in the complete elimination of the U.S. national debt by fiscal year 2010.2” https://en.wikipedia.org/wiki/Economic_Growth_and_Tax_Relief_Reconciliation_Act_of_2001On top of that the Republican go on a spending spree, from the conservative Kato Institute:”President Bush has presided over the largest overall increase in inflation-adjusted federal spending since Lyndon B. Johnson. Even after excluding spending on defense and homeland security, Bush is still the biggest-spending president in 30 years. His 2006 budget doesn’t cut enough spending to change his place in history, either.” http://www.cato.org/publications/policy-analysis/grand-old-spending-party-how-republicans-became-big-spenders”During his eight years in office, President Bush oversaw a large increase in government spending. In fact, President Bush increased government spending more than any of the six presidents preceding him, including LBJ. In his last term in office, President Bush increased discretionary outlays by an estimated 48.6 percent. During his eight years in office, President Bush spent almost twice as much as his predecessor, President Clinton. Adjusted for inflation, in eight years, President Clinton increased the federal budget by 12.5 percent. In eight years, President Bush increased it by a whopping 53 percent.” http://mercatus.org/publication/spending-under-president-george-w-bushThe Republicans are all talk about fiscal responsibility but their actions speak loudly otherwise.
^HAR! Some are never distracted by actual facts, insisting on getting ’em backward! The toon has it right.
BTW, from Bush to Obama, there’s only one “cost” I care about and note a drastic reduction in ; casualty figures of American troops killed in Afghanistan and Iraq. We co NOT need to go back to the Bush figures on that.
Or just create a “Clinton Foundation” and smuggle millions of dollars into your bank account and then delete 60,000 Emails so they can’t prove you and your fake husband BJ stole it?
Simon_Jester almost 9 years ago
…And then blame it on Obama when the bill comes due
Darsan54 Premium Member almost 9 years ago
The reports on Rubio are overblown at best, but the second panel is dead on.
Theodore E. Lind Premium Member almost 9 years ago
I was around when cheap Japanese cars entered the country. Detroit ignored them and tried to build barriers to entry. This went on for years while the Japanese got better and better at building low cost, high quality cars. The US auto industry was fat, dumb, and happy and did not improve their product until the competition started to eat their lunch. Isolationism will always catch up with you eventually. If you want to keep your markets, you must offer competitive products that provide the consumer real value.
Diane Lee Premium Member almost 9 years ago
When I graduated from high school in 1962, my husband and I bought a house and two cars within the next few years, on what he was making on a job he got right out of high school. Most of the guys I graduated with did the same. I didn’t work, few women did, and those who did actually chose to do so. Now, it isn’t really a choice for most women, unless they don’t mind living in poverty. When I decided to become a teacher, my first quarter’s tuition at a state university was $79, and we rented any books we needed for $20. Anyone could go to college with just a part time job to pay for it.Since that time, the GNP has skyrocked and the American worker is acknowledged to be the most productive in the world. But, all of the value they are producing is going to the top 1%. The Middle Class standard of living is declining, and a college graduate hasn’t anywhere near as easy a time as we had with just high school. We produce the highest quality goods on earth, and we can’t afford to buy them. A young person told me a while back that I couldn’t really understand why their generation was so angry.What I actually don’t understand is why they aren’t rioting in the streets.
twclix almost 9 years ago
Rubio’s personal financial mismanagement is indicative of an imprudent and juvenile attitude towards his personal finances. It sort of reminds me of the lottery winners who are broke within two year after winning millions. Rubio found a sugar daddy in politics (especially former Eagles owner Norman Brennan (sp?)) and couldn’t help himself. It’s a sign of emotional immaturity common to those who can’t delay gratification and be financially prudent. It’s an attitude that you certainly don’t want in a president. Personal financial prudence is a virtue that’s lacking among many of us, not just right wing politicians. National financial prudence is even more important, but of a somewhat different character. Sovereign nations are not like individuals or families. There are parallels, of course, but the finances of a nation often reflect the financial attitudes of its population. In this regard, Rubo probably not only mirrors the Republicans but also the majority of Americans. Democrats are not exempt from financial mismanagement, of course, but the Republicans seem to base things on an ideology that’s been proven wrong. See, for the most recent example, the state of Kansas.
PainterArt Premium Member almost 9 years ago
”The appropriations bills for fiscal years 1990 through 1993 were signed by Bill Clinton’s predecessor, George H.W. Bush. Fiscal 2002 is the first for which President George W. Bush signed the appropriations bills, and the first to show the effect of his tax cuts” ”The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year, and that Republicans incorrectly claim is the “largest tax increase in history.” http://www.factcheck.org/2008/02/the-budget-and-deficit-under-clinton/This is one of my main gripe with Republicans, they complain about the budget deficit and the debt. They had control of all branches of government for six year and inherited a budget surplus. We could have started making a dent in the debt. Instead, the Republicans decide to start an unfunded war asking nothing of the American public (like the Greatest Generation did), and tax cuts (2001 and 2003) that added to the budget deficit and debt. The 2001 tax cut: “A report published by researchers with the Heritage Foundation claimed that the cuts would result in the complete elimination of the U.S. national debt by fiscal year 2010.2” https://en.wikipedia.org/wiki/Economic_Growth_and_Tax_Relief_Reconciliation_Act_of_2001On top of that the Republican go on a spending spree, from the conservative Kato Institute:”President Bush has presided over the largest overall increase in inflation-adjusted federal spending since Lyndon B. Johnson. Even after excluding spending on defense and homeland security, Bush is still the biggest-spending president in 30 years. His 2006 budget doesn’t cut enough spending to change his place in history, either.” http://www.cato.org/publications/policy-analysis/grand-old-spending-party-how-republicans-became-big-spenders”During his eight years in office, President Bush oversaw a large increase in government spending. In fact, President Bush increased government spending more than any of the six presidents preceding him, including LBJ. In his last term in office, President Bush increased discretionary outlays by an estimated 48.6 percent. During his eight years in office, President Bush spent almost twice as much as his predecessor, President Clinton. Adjusted for inflation, in eight years, President Clinton increased the federal budget by 12.5 percent. In eight years, President Bush increased it by a whopping 53 percent.” http://mercatus.org/publication/spending-under-president-george-w-bushThe Republicans are all talk about fiscal responsibility but their actions speak loudly otherwise.
braindead Premium Member almost 9 years ago
Ted’s point also illustrates how industries will manipulate the so-called free market whenever it is in their interest.
The barriers Ted mentions were all legal ones, accomplished by influencing Congress.
The techniques used to manipulate the so-called free market have gotten much more sophisticated and effective since those days.
A primary objective of regulations is to prevent the manipulation of free markets.
Dtroutma almost 9 years ago
^HAR! Some are never distracted by actual facts, insisting on getting ’em backward! The toon has it right.
BTW, from Bush to Obama, there’s only one “cost” I care about and note a drastic reduction in ; casualty figures of American troops killed in Afghanistan and Iraq. We co NOT need to go back to the Bush figures on that.
braindead Premium Member almost 9 years ago
Right. Rather than compete, Detroit instead beseeched Congress to erect barriers to competition, in the form of quotas and tariffs.
They weren’t successful. The sugar industry, OTOH, has been successful in keeping cheaper foreign sugar out of the country.
pam Miner almost 9 years ago
Ok the truth is out. The republicans are going to increace warring on other nations if they get a chance.
reynard61 almost 9 years ago
I think that mdavis is going the Adam Savage route: “I reject your reality and substitute my own.”
ConserveGov almost 9 years ago
Or just create a “Clinton Foundation” and smuggle millions of dollars into your bank account and then delete 60,000 Emails so they can’t prove you and your fake husband BJ stole it?