Yesterday’s GOP debate: Minimum Wage, Balanced Budget, Economy, Taxes, Immigration, ACA, Military, Trade

A transcript of yesterday’s main GOP Debate in Milwaukee, WI will be found here. I mention this at the outset so those who desire can read the candidates’ comments unfiltered by media reports.

Following are several snippets from the debate:

  • Carson: “Every time we raise the minimum wage, the number of jobless people increases.”
  • Rubio: “If you raise the minimum wage, you’re going to make people more expensive than a machine. And that means all this automation that’s replacing jobs and people right now is only going to be accelerated.”
  • Bush: “Hillary Clinton has said that Barack Obama’s policies get an A. Really? One in 10 people right now aren’t working or have given up altogether, as you said. That’s not an A. One in seven people are living in poverty. That’s not an A. One in five children are on food stamps. That is not an A. It may be the best that Hillary Clinton can do, but it’s not the best America can do.”
  • Fiorina: “Well, first Obamacare has to be repealed because it’s failing… [applause]…it’s failing the very people it was intended to help, but, also, it is croney-capitalism at its worst. Who helped write this bill? Drug companies, insurance companies, pharmaceutical companies, every single one of those kinds of companies are bulking up to deal with big government. See, that’s what happens. As government gets bigger, and bigger — and it has been for 50 years under republicans and democrats alike — and business have to bulk up to deal with big government.”
  • Paul: “No. I don’t think we’re any safer — I do not think we are any safer from bankruptcy court. As we go further, and further into debt, we become less, and less safe. This is the most important thing we’re going to talk about tonight. Can you be a conservative, and be liberal on military spending? Can you be for unlimited military spending, and say, Oh, I’m going to make the country safe? No, we need a safe country, but, you know, we spend more on our military than the next ten countries combined?”
  • Cruz: “You know, I mention that the 25 programs that I put today, that I would eliminate them. Among them are corporate welfare, like sugar subsidies. Let’s take that as an example. Sugar subsidies. Sugar farmers farm under… [bell ringing] …under roughly 0.2% of the farmland in America, and yet they give 40% of the lobbying money. That sort of corporate welfare is why we’re bankrupting our kids, and grandkids. I would end those subsidies to pay for defending this nation…”
  • Trump: “The TPP is horrible deal. It is a deal that is going to lead to nothing but trouble. It’s a deal that was designed for China to come in, as they always do, through the back door and totally take advantage of everyone. It’s 5,600 pages long. So complex that nobodies read it. It’s like Obamacare; nobody ever read it. They passed it; nobody read it. And look at mess we have right now. And it will be repealed. But this is one of the worst trade deals. And I would, yes, rather not have it. With all of these countries, and all of the bad ones getting advantage and taking advantage of what the good ones would normally get, I’d rather make individual deals with individual countries. We will do much better. We lose a fortune on trade. The United States loses with everybody. We’re losing now over $500 billion in terms of imbalance with China, $75 billion a year imbalance with Japan. By the way, Mexico, $50 billion a year imbalance.”
  • Kasich: “Well, look, in 1986 Ronald Reagan basically said the people who were here, if they were law-abiding, could stay. But, what didn’t happen is we didn’t build the walls effectively and we didn’t control the border. We need to. We need to control our border just like people have to control who goes in and out of their house. But if people think that we are going to ship 11 million people who are law-abiding, who are in this country, and somehow pick them up at their house and ship them out of Mexico — to Mexico, think about the families. Think about the children. So, you know what the answer really is? If they have been law- abiding, they pay a penalty. They get to stay. We protect the wall. Anybody else comes over, they go back. But for the 11 million people, come on, folks. We all know you can’t pick them up and ship them across, back across the border. It’s a silly argument. It is not an adult argument. It makes no sense. [applause]”

Bernie Sanders on media, Medicare, middle class, Iraq War, Keystone Pipeline…

(Yesterday Chuck Todd, moderator of NBC “Meet the Press,” interviewed, among others, presidential contender Bernie Sanders and the exchange follows. The transcript of the entire program is here. – Admin.) CHUCK TODD: Let me move to the other side of … Continue reading

The battle over President Obama’s trade deal has officially arrived

The Washington Post By David Nakamura and Mike DeBonis 11/5/15 The Obama administration released the full text of a 12-nation Pacific Rim free-trade accord on Thursday, launching what is expected to be a long and bruising fight to win final … Continue reading

What caused the Great Depression?

By Russ Phillips

“Those who cannot remember the past are condemned to repeat it” (George Santayana) and it appears that many events in history repeat. This cyclical nature of history, in part, suggests the lack of mindfulness of the past and a lack of action to prevent its recurrence.

Two momentous events that can be instructive for the future are The Great Depression (1929-1939) and the Financial Crisis (2007-2008).

Several days ago I posted about the Glass-Steagall Banking Act that was referred to in the October 13, 2015 Democratic Debate as well as by Ben Carson on ABC “This Week” two days ago.

This 2:58 video clip, “What Caused the Great Depression,” appears on the Franklin D. Roosevelt Presidential Library and Museum website as part of its “Virtual Tour.” BTW, this is an excellent website that gives great insight into our nation’s history during the Roosevelt Presidency of twelve years.

Indiana’s mixed bag: unemployment, economic performance, manufacturing, trade agreements and wages & benefits

(Links, parenthetical comments and highlighting were done by the Admin.) Business Insider: Power of partnership can help Indiana IndyStar.com By John Ketzenberger 6/19/15 Juan Pablo Montoya had barely finished his victory lap after this year’s Indianapolis 500 when the news … Continue reading

Obama’s Trade Bill Gets Boost as Mitch McConnell Vows Vote ‘Soon’

The Senate majority leader says he has been working with the White House on passing the deal.

Bloomberg.com
By Billy House
5/5/15

The U.S. Senate will take up legislation to give President Barack Obama the trade negotiating authority he wants “very soon,” Senate Majority Leader Mitch McConnell said.

“It’s been almost an out of body experience but we’ve been working closely with the White House,” McConnell told reporters Tuesday as he said the trade bill would follow action on two other measures. “We’re working together to try to get it across the finish line.”

Senate Democratic Leader Harry Reid, a foe of “fast-track” trade authority, called on Republicans to first consider measures to extend federal highway funding and modify U.S. surveillance laws…
Continue reading