Sunday Ketchup 9/18

September 18, 2011 No Comments

This week in the news, memorials were held nationwide to remember the 10^th anniversary of 9/11. One particular memorial that attracted a lot of attention took place at the site of ground zero where a new beautifully constructed memorial now stands. President Bush and President Obama stood side by side to commemorate the event.

 

In terms of policymaking, President Obama continued to push for the passing of his jobs bill, adding this week that higher taxes for the wealthy were the means of funding for the proposed legislation. Specifically, Obama proposed to limit itemized deductions for those earning more than $200,000 and to eliminate subsidies for oil and gas companies. Representative Eric Cantor (R) criticizes this plan for taxing industries America relies on to get the country out of unemployment and is asking for compromise from both parties. [i] In fact, Republicans are not the only ones complaining about the jobs bill. Democrats in Congress are raising various complains ranging from specific companies losing tax benefits to dismay over payroll tax cuts for employees and small businesses. Some are not criticizing the policy, in itself, but fear the connection to the stimulus bill earlier in Obama’s administration and how such a connection could affect  Democratic reelection rates in 2012. [ii]

 

Looking towards politics, a special election occurred in the New York 9^th congressional district that was formerly held by Anthony Weiner. On Monday, the 12^th, it was reported that National Democrats sensed trouble in the race between Democrat David Weprin and Republican, Bob Turner, and thus spent nearly $500,000 within a week on television ads designed to turn the tide. [iii] Unfortunately for the Democratic Party, the last minute infusion of money into the district failed and Bob Turner was elected to the congressional seat. Voters in the district cited disappointment with President Obama concerning the economy and international relations with countries like Israel. Political analysts disagree over whether this election served as a a referendum on the Obama administration as a whole or if this was just specific interests of the district at play. [iv]

 

Although the GOP led a victory in the special election, it seems that the dynamic of the tea party has been a dividing factor in recent weeks. According to Keating Holland, Director of CNN Polling, the major divisive issues among traditional republicans and those who identify with the tea party focus on relative importance of jobs versus the federal deficit. Tea party goers tend to prioritize deficit over unemployment rates .[v]

 

The Republicans had a lively debate last Tuesday in Tampa, Florida. The general strategy was to pick on Perry, the perceived frontrunner for the GOP nomination. The debate proved a couple of things. First, Romney is a good debater: his preparation was sound and his repeated classification of Perry and his ponzi scheme quote about Social Security was effective.  Perry was calm but perhaps overly calm. His answer to questions concerning his executive order to give HPV vaccines to pre-teen girls in Texas was unimpressive and unrelateable. Bachmann reestablished herself at some points with her snide remarks concerning Perry’s former chief of staff as a now lobbyist for the HPV vaccine company, yet her unfounded story about a mother and her disabled child due to the HPV vaccine takes away some of her credibility.  Overall, Gingrich and Cain were not bad but they were not memorable, gaining no great political ground from the Tampa debate.

 

In terms of the economy, on Tuesday it was reported that US Poverty rate has reached its highest since the early 1990’s to a staggering 15.1%. [vi]  Additionally, a study came out from the Institute for Financial Literacy stating that not only are college graduates the fastest growing group of consumers in the population filing for bankruptcy but that the percentage of debtors with a bachelor’s degree rose from 11.2# in 2006 to 13.6% this year. [vii]

 

On an international level, Libyan transitional leader Mustafa Abdel Jalil addressed the de facto government Monday, the 12^th, urging Libyans not to seek revenge of those who harmed them under Qaddafi’s rule but to embrace the Islamic concept of forgiveness. He closed the speech with, “We will not accept any extremist ideology on the right of the left. We are a Muslim people, for a moderate Islam, and we sill stay on this road.”  [viii] Iranian President Mahmoud Ahmadinegad released a statement Tuesday, the 13^th, that two Americans who were caught hiking through the mountains of Iran and have been jailed for espionage charges for two years, will be granted a unilateral pardon. This decision, due to the structure of the Iranian government, must be reviewed by clerical authorities. US officials believes action will take time. [ix]

 

Palestinian President Mahmoud Abbas announced Friday, September 16^th, that he will ask the UN Security Council for approval of a Palestinian state membership into the UN. This goes against warnings from both Obama and Prime Minister of Israel, Netanyahu, who threatened “grave consequences.” This UN showdown comes down to a test of Obama’s authority in the international arena and the dynamic of Israel Palestinian relations. [x]

 

Sadly, tragedies struck the United States at home this week. Due to wild fires, approximately 1,554 houses were destroyed in Bastrop, Texas with up to seventeen people unaccounted for.[xi] Additionally, last Friday, the 16^th, a 1940’s WWII style plane at an air show in Reno, Nevada crashed. Seven people, including the pilot, were killed when the plane nosedived into a crowd of spectators. [xii]

 

That’s the news for week. Look out for Obama’s deficit reduction plan that is set to unveil tomorrow and thanks for ketchin up!

 

 

 

Tags: 2012, 9/11, Obama's Jobs BillOnline Exclusive