Paul Craig Roberts
The American Empire is failing. A number of its puppet rulers are being overthrown by popular protests, and the almighty dollar will not even buy one Swiss franc, one Canadian dollar, or one Australian dollar. Despite the sovereign debt problem that threatens EU members Greece, Ireland, Spain, and Portugal, it requires $1.38 dollars to buy one euro, a new currency that was issued at parity with the US dollar.
The US dollar’s value is likely to fall further in terms of other currencies, because nothing is being done about the US budget and trade deficits. Obama’s budget, if passed, doesn’t reduce the deficit over the next ten years by enough to cover the projected deficit in the FY 2012 budget.
Indeed, the deficits are likely to be substantially larger than forecast. The military/security complex, about which President Eisenhower warned Americans a half century ago, is more powerful than ever and shows no inclination to halt the wars for US hegemony.
The cost of these wars is enormous. The US media, being good servants for the government, only reports the out-of-pocket or current cost of the wars, which is only about one-third of the real cost. The current cost leaves out the cost of life-long care for the wounded and maimed, the cost of life-long military pensions of those who fought in the wars, the replacement costs of the destroyed equipment, the opportunity cost of the resources wasted in war, and other costs. The true cost of America’s illegal Iraq invasion, which was based entirely on lies, fabrications and deceptions, is at least $3,000 billion according to economist Joseph Stiglitz and budget expert Linda Bilmes.
The same for the Afghan war, which is ongoing. If the Afghan war lasts as long as the Pentagon says it needs to, the cost will be a multiple of the cost of the Iraq war.
There is not enough non-military discretionary spending in the budget to cover the cost of the wars even if every dollar is cut. As long as the $1,200 billion ($1.2 trillion) annual budget for the military/security complex is off limits, nothing can be done about the U.S. budget deficit except to renege on obligations to the elderly, confiscate private assets, or print enough money to inflate away all debts.
The other great contribution to the US deficit is the offshoring of production for US markets. This practice has enriched corporate management, large shareholders, and Wall Street, but it has eroded the tax base, and thereby tax collections, of local, state, and federal government, halted the growth of real income for everyone but the rich, and disrupted the lives of those Americans whose jobs were sent abroad. When short-term and long-term discouraged workers are added to the U.3 measure of unemployment, the U.S. has an unemployment rate of 22%. A country with more than one-fourth of its work force unemployed has a shrunken tax base and feeble consumer purchasing power.
To put it bluntly, the $3 trillion cost of the Iraq war, as computed by Joseph Stiglitz and Linda Bilmes, is 20% of the size of the U.S. economy in 2010. In other words, the Iraq war alone cost Americans one-fifth of the year’s gross domestic product. Instead of investing the resources, which would have produced income and jobs growth and solvency for state and local governments, the US government wasted the equivalent of 20% of the production of the economy in 2010 in blowing up infrastructure and people in foreign lands. The US government spent a huge sum of money committing war crimes, while millions of Americans were thrown out of their jobs and foreclosed out of their homes.
The bought-and-paid-for Congress had no qualms about unlimited funding for war, but used the resulting “debt crisis” to refuse help to American citizens who were out of work and out of their homes.
The obvious conclusion is that “our” government does not represent us.
The US government remains a champion of offshoring, which it calls “globalism.” According to the US government and its shills among “free market” economists, destroying American manufacturing and the tax bases of cities, states, and the federal government by moving US jobs and GDP offshore is “good for the economy.” It is “free trade.”
It is the same sort of “good” that the US government brings to Iraq and Afghanistan by invading those countries and destroying lives, homes and infrastructures. Destruction is good. That’s the way our government and its shills see things. In America destruction is done with jobs offshoring, financial deregulation, and fraudulent financial instruments. In Iraq and Afghanistan (and now Pakistan) is it done with bombs and drones.
Where is all this leading?
It is leading to the destruction of Social Security and Medicare.
Republicans have convinced a large percentage of voters that America is in trouble, not because it wastes 20% of the annual budget on wars of aggression and Homeland Security porn-scanners, but because of the poor and retirees.
Pundits scapegoat the middle class and blame the struggling middle along with the poor and retirees. Fareed Zakaria, for example, sees no extravagance in a trillion dollar military budget. The real money, he says, is in programs for the middle class, and the middle class “will immediately punish any [politician] who proposes spending cuts in any middle class program.” What does Zakaria think the military/security complex will do to any politician who cuts the military budget? As a well-paid shill he had rather not say.
Andrew Sullivan also has no concept of reductions in military/security subsidies: “they’re big babies I mean, people keep saying they don’t want any tax increases, but they don’t want to have their Medicare cut, they don’t want to have their Medicaid [cut] or they don’t want to have their Social Security touched one inch. Well, it’s about time someone tells them,you can’t have it, baby.”
Niall Ferguson thinks that Americans are so addicted to wars that the U.S. government will default on Social Security and Medicare.
Republicans tell us that our grandchildren are being saddled with impossible debt burdens because of handouts to retirees and the poor. $3 trillion wars are necessary and have nothing to do with the growth of the public debt. The public debt is due to unnecessary “welfare” that workers paid for with a 15% payroll tax.
When you hear a Republican sneer “entitlement,” he or she is referring to Social Security and Medicare, for which people have paid 15% of their wages for their working lifetime. But when a Republican sneers, he or she is saying “welfare.” To the distorted mind of a Republican, Social Security and Medicare are undeserved welfare payments to people who over-consumed for a lifetime and did not save for their old age needs.
America can be strong again once we get rid of these welfare leeches.
Once we are rid of these leeches, we can really fight wars. And show people who is boss.
Republicans regard Social Security as an “unfunded liability,” that is, a giveaway that is interfering with our war-making ability.
Alas, Social Security is an unfunded liability, because all the money working people put into it was stolen by Republicans and Democrats in order to pay for wars and bailouts for mega-rich bankers like Goldman Sachs.
What I am about to tell you might come as a shock, but it is the absolute truth, which you can verify for yourself by going online to the government’s annual OASDI and HI reports. According to the official 2010 Social Security reports, between 1984 and 2009 the American people contributed $2 trillion, that is $2,000 billion, more to Social Security and Medicare in payroll taxes than was paid out in benefits.
What happened to the surplus $2,000 billion, or $2,000,000,000,000.
The government spent it.
Over the past quarter century, $2 trillion in Social Security and Medicare revenues have been used to finance wars and pork-barrel projects of the US government.
Depending on assumptions about population growth, income growth and other factors, Social Security continues to be in the black until after 2025 or 2035 under the “high cost” and “intermediate” assumptions and the current payroll tax rate of 15.3% based on the revenues paid in and the interest on those surplus revenues. Under the low cost scenario, Social Security (OASDI) will have produced surplus revenues of $31.6 trillion by 2085.
When I was Assistant Secretary of the US Treasury, Deputy Assistant Secretary Steve Entin worked out a way to put Social Security on a sound basis with the current rate of payroll tax without requiring one cent of general revenues. You can read about it in chapter 9 of my book, The Supply-Side Revolution, which Harvard University Press has kept in print for more than a quarter century. Entin’s solution, or a variation of it, would still work, so Social Security can easily be saved within the current payroll tax rate. Instead of acknowledging this incontrovertible fact, the right-wing wants to terminate the program.
Treasury was blocked from putting Entin’s plan into effect by the fact that other parts of the government and the Greenspan Social Security Commission had agendas different from ensuring a sound Social Security system.
Wall Street insisted that the Reagan tax rate reductions would explode consumer spending, cause inflation and destroy the values of stock and bond portfolios. When inflation collapsed instead of exploding, Wall Street said that the deficits, which resulted from inflation’s collapse, would cause inflation and destroy the values of stock and bond portfolios. This didn’t happen either.
Nevertheless, the Greenspan commission played to these mistaken fears. The “Reagan deficits” could not cause inflation, because they were the result of the unanticipated collapse of inflation (anticipated only by supply-side economists). As I demonstrated in a paper published in the 1980s in the US, UK, Japan, Germany, Italy, and other countries, tax revenues were below the forecast amounts because inflation, and thus nominal GNP, were below forecast. The collapse of inflation also made real government spending higher than intended as the spending figures in the five-year budget were based on higher inflation than was realized.
The subsidy to the US government from the payroll tax is larger than the $2 trillion in excess revenue collections over payouts. The subsidy of the Social Security payroll tax to the government also includes the fact that $2.8 trillion of US government debt obligations are not in the market. If the national debt held by the public were $2.8 trillion larger, so would be the debt service costs and most likely also the interest rate.
The money left over for war would be even smaller. More would have to be borrowed or printed.
The difference between the $2 trillion in excess Social Security revenues and the $2.8 trillion figure is the $0.8 trillion that is the accumulated interest over the years on the mounting $2 trillion in debt, if the Treasury had had to issue bonds, instead of non-marketable IOUs, to the Social Security Trust Fund. When the budget is in deficit, the Treasury pays interest by issuing new bonds in the amount of the interest due. In other words, the interest on the debt adds to the debt outstanding.
The robbed Social Security Trust Fund can only be made good by the US Treasury issuing another $2.8 trillion in US government debt to pay off its IOUs to the fund.
When a government is faced with a $14 trillion public debt growing by trillion dollar deficits as far as the eye can see, how does it add another $2.8 trillion to the mix?
Only with great difficulty.
Therefore, to avoid repaying the $2.8 trillion that the government has stolen for its wars and bailouts for mega-rich bankers, the right-wing has selected entitlements as the sacrificial lamb.
A government that runs a deficit too large to finance by borrowing will print money as long as it can. When the printing press begins to push up inflation and push down the exchange value of the dollar, the government will be tempted to reduce its debt by reneging on entitlements or by confiscating private assets such as pension funds. When it has confiscated private assets and reneged on public obligations, nothing is left but the printing press.
We owe the end-time situation that we face to open-ended wars and to an unregulated financial system concentrated in a few hands that produces financial crises by leveraging debt to irresponsible levels.
The government of the United States does not represent the American people. It represents the oligarchs. The way campaign finance and elections are structured, the American people cannot take back their government by voting. A once proud and free people have been reduced to serfdom.
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously an editor for the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds,” details why America is disintegrating.
Showing posts with label Reaganomics. Show all posts
Showing posts with label Reaganomics. Show all posts
Monday, March 14, 2011
Friday, March 28, 2008
"The Rainbow Coalition"
Here's a really historic speech about race and class in America...
http://www.americanrhetoric.com/speeches/jessejackson1984dnc.htm
Jesse Jackson
1984 Democratic National Convention Address
"The Rainbow Coalition"
Delivered 18 July 1984, San Francisco
Thank you very much.
Tonight we come together bound by our faith in a mighty God, with genuine respect and love for our country, and inheriting the legacy of a great Party, the Democratic Party, which is the best hope for redirecting our nation on a more humane, just, and peaceful course.
This is not a perfect party. We are not a perfect people. Yet, we are called to a perfect mission. Our mission: to feed the hungry; to clothe the naked; to house the homeless; to teach the illiterate; to provide jobs for the jobless; and to choose the human race over the nuclear race.
We are gathered here this week to nominate a candidate and adopt a platform which will expand, unify, direct, and inspire our Party and the nation to fulfill this mission. My constituency is the desperate, the damned, the disinherited, the disrespected, and the despised. They are restless and seek relief. They have voted in record numbers. They have invested the faith, hope, and trust that they have in us. The Democratic Party must send them a signal that we care. I pledge my best not to let them down.
There is the call of conscience, redemption, expansion, healing, and unity. Leadership must heed the call of conscience, redemption, expansion, healing, and unity, for they are the key to achieving our mission. Time is neutral and does not change things. With courage and initiative, leaders change things.
No generation can choose the age or circumstance in which it is born, but through leadership it can choose to make the age in which it is born an age of enlightenment, an age of jobs, and peace, and justice. Only leadership -- that intangible combination of gifts, the discipline, information, circumstance, courage, timing, will and divine inspiration -- can lead us out of the crisis in which we find ourselves. Leadership can mitigate the misery of our nation. Leadership can part the waters and lead our nation in the direction of the Promised Land. Leadership can lift the boats stuck at the bottom.
I have had the rare opportunity to watch seven men, and then two, pour out their souls, offer their service, and heal and heed the call of duty to direct the course of our nation. There is a proper season for everything. There is a time to sow and a time to reap. There's a time to compete and a time to cooperate.
I ask for your vote on the first ballot as a vote for a new direction for this Party and this nation -- a vote of conviction, a vote of conscience. But I will be proud to support the nominee of this convention for the Presidency of the United States of America. Thank you.
I have watched the leadership of our party develop and grow. My respect for both Mr. Mondale and Mr. Hart is great. I have watched them struggle with the crosswinds and crossfires of being public servants, and I believe they will both continue to try to serve us faithfully.
I am elated by the knowledge that for the first time in our history a woman, Geraldine Ferraro, will be recommended to share our ticket.
Throughout this campaign, I've tried to offer leadership to the Democratic Party and the nation. If, in my high moments, I have done some good, offered some service, shed some light, healed some wounds, rekindled some hope, or stirred someone from apathy and indifference, or in any way along the way helped somebody, then this campaign has not been in vain.
For friends who loved and cared for me, and for a God who spared me, and for a family who understood, I am eternally grateful.
If, in my low moments, in word, deed or attitude, through some error of temper, taste, or tone, I have caused anyone discomfort, created pain, or revived someone's fears, that was not my truest self. If there were occasions when my grape turned into a raisin and my joy bell lost its resonance, please forgive me. Charge it to my head and not to my heart. My head -- so limited in its finitude; my heart, which is boundless in its love for the human family. I am not a perfect servant. I am a public servant doing my best against the odds. As I develop and serve, be patient: God is not finished with me yet.
This campaign has taught me much; that leaders must be tough enough to fight, tender enough to cry, human enough to make mistakes, humble enough to admit them, strong enough to absorb the pain, and resilient enough to bounce back and keep on moving.
For leaders, the pain is often intense. But you must smile through your tears and keep moving with the faith that there is a brighter side somewhere.
I went to see Hubert Humphrey three days before he died. He had just called Richard Nixon from his dying bed, and many people wondered why. And I asked him. He said, "Jesse, from this vantage point, the sun is setting in my life, all of the speeches, the political conventions, the crowds, and the great fights are behind me now. At a time like this you are forced to deal with your irreducible essence, forced to grapple with that which is really important to you. And what I've concluded about life," Hubert Humphrey said, "When all is said and done, we must forgive each other, and redeem each other, and move on."
Our party is emerging from one of its most hard fought battles for the Democratic Party's presidential nomination in our history. But our healthy competition should make us better, not bitter. We must use the insight, wisdom, and experience of the late Hubert Humphrey as a balm for the wounds in our Party, this nation, and the world. We must forgive each other, redeem each other, regroup, and move one. Our flag is red, white and blue, but our nation is a rainbow -- red, yellow, brown, black and white -- and we're all precious in God's sight.
America is not like a blanket -- one piece of unbroken cloth, the same color, the same texture, the same size. America is more like a quilt: many patches, many pieces, many colors, many sizes, all woven and held together by a common thread. The white, the Hispanic, the black, the Arab, the Jew, the woman, the native American, the small farmer, the businessperson, the environmentalist, the peace activist, the young, the old, the lesbian, the gay, and the disabled make up the American quilt.
Even in our fractured state, all of us count and fit somewhere. We have proven that we can survive without each other. But we have not proven that we can win and make progress without each other. We must come together.
From Fannie Lou Hamer in Atlantic City in 1964 to the Rainbow Coalition in San Francisco today; from the Atlantic to the Pacific, we have experienced pain but progress, as we ended American apartheid laws. We got public accommodations. We secured voting rights. We obtained open housing, as young people got the right to vote. We lost Malcolm, Martin, Medgar, Bobby, John, and Viola. The team that got us here must be expanded, not abandoned.
Twenty years ago, tears welled up in our eyes as the bodies of Schwerner, Goodman, and Chaney were dredged from the depths of a river in Mississippi. Twenty years later, our communities, black and Jewish, are in anguish, anger, and pain. Feelings have been hurt on both sides. There is a crisis in communications. Confusion is in the air. But we cannot afford to lose our way. We may agree to agree; or agree to disagree on issues; we must bring back civility to these tensions.
We are co-partners in a long and rich religious history -- the Judeo-Christian traditions. Many blacks and Jews have a shared passion for social justice at home and peace abroad. We must seek a revival of the spirit, inspired by a new vision and new possibilities. We must return to higher ground. We are bound by Moses and Jesus, but also connected with Islam and Mohammed. These three great religions, Judaism, Christianity, and Islam, were all born in the revered and holy city of Jerusalem.
We are bound by Dr. Martin Luther King Jr. and Rabbi Abraham Heschel, crying out from their graves for us to reach common ground. We are bound by shared blood and shared sacrifices. We are much too intelligent, much too bound by our Judeo-Christian heritage, much too victimized by racism, sexism, militarism, and anti-Semitism, much too threatened as historical scapegoats to go on divided one from another. We must turn from finger pointing to clasped hands. We must share our burdens and our joys with each other once again. We must turn to each other and not on each other and choose higher ground.
Twenty years later, we cannot be satisfied by just restoring the old coalition. Old wine skins must make room for new wine. We must heal and expand. The Rainbow Coalition is making room for Arab Americans. They, too, know the pain and hurt of racial and religious rejection. They must not continue to be made pariahs. The Rainbow Coalition is making room for Hispanic Americans who this very night are living under the threat of the Simpson-Mazzoli bill; and farm workers from Ohio who are fighting the Campbell Soup Company with a boycott to achieve legitimate workers' rights.
The Rainbow is making room for the Native American, the most exploited people of all, a people with the greatest moral claim amongst us. We support them as they seek the restoration of their ancient land and claim amongst us. We support them as they seek the restoration of land and water rights, as they seek to preserve their ancestral homeland and the beauty of a land that was once all theirs. They can never receive a fair share for all they have given us. They must finally have a fair chance to develop their great resources and to preserve their people and their culture.
The Rainbow Coalition includes Asian Americans, now being killed in our streets -- scapegoats for the failures of corporate, industrial, and economic policies.
The Rainbow is making room for the young Americans. Twenty years ago, our young people were dying in a war for which they could not even vote. Twenty years later, young America has the power to stop a war in Central America and the responsibility to vote in great numbers. Young America must be politically active in 1984. The choice is war or peace. We must make room for young America.
The Rainbow includes disabled veterans. The color scheme fits in the Rainbow. The disabled have their handicap revealed and their genius concealed; while the able-bodied have their genius revealed and their disability concealed. But ultimately, we must judge people by their values and their contribution. Don't leave anybody out. I would rather have Roosevelt in a wheelchair than Reagan on a horse.
The Rainbow is making room for small farmers. They have suffered tremendously under the Reagan regime. They will either receive 90 percent parity or 100 percent charity. We must address their concerns and make room for them. The Rainbow includes lesbians and gays. No American citizen ought be denied equal protection from the law.
We must be unusually committed and caring as we expand our family to include new members. All of us must be tolerant and understanding as the fears and anxieties of the rejected and the party leadership express themselves in many different ways. Too often what we call hate -- as if it were some deeply-rooted philosophy or strategy -- is simply ignorance, anxiety, paranoia, fear, and insecurity. To be strong leaders, we must be long-suffering as we seek to right the wrongs of our Party and our nation. We must expand our Party, heal our Party, and unify our Party. That is our mission in 1984.
We are often reminded that we live in a great nation -- and we do. But it can be greater still. The Rainbow is mandating a new definition of greatness. We must not measure greatness from the mansion down, but the manger up. Jesus said that we should not be judged by the bark we wear but by the fruit that we bear. Jesus said that we must measure greatness by how we treat the least of these.
President Reagan says the nation is in recovery. Those 90,000 corporations that made a profit last year but paid no federal taxes are recovering. The 37,000 military contractors who have benefited from Reagan's more than doubling of the military budget in peacetime, surely they are recovering. The big corporations and rich individuals who received the bulk of a three-year, multibillion tax cut from Mr. Reagan are recovering. But no such recovery is under way for the least of these.
Rising tides don't lift all boats, particularly those stuck at the bottom. For the boats stuck at the bottom there's a misery index. This Administration has made life more miserable for the poor. Its attitude has been contemptuous. Its policies and programs have been cruel and unfair to working people. They must be held accountable in November for increasing infant mortality among the poor. In Detroit one of the great cities of the western world, babies are dying at the same rate as Honduras, the most underdeveloped nation in our hemisphere. This Administration must be held accountable for policies that have contributed to the growing poverty in America. There are now 34 million people in poverty, 15 percent of our nation. 23 million are White; 11 million Black, Hispanic, Asian, and others -- mostly women and children. By the end of this year, there will be 41 million people in poverty. We cannot stand idly by. We must fight for a change now.
Under this regime we look at Social Security. The '81 budget cuts included nine permanent Social Security benefit cuts totaling 20 billion over five years. Small businesses have suffered under Reagan tax cuts. Only 18 percent of total business tax cuts went to them; 82 percent to big businesses. Health care under Mr. Reagan has already been sharply cut. Education under Mr. Reagan has been cut 25 percent. Under Mr. Reagan there are now 9.7 million female head families. They represent 16 percent of all families. Half of all of them are poor. 70 percent of all poor children live in a house headed by a woman, where there is no man. Under Mr. Reagan, the Administration has cleaned up only 6 of 546 priority toxic waste dumps. Farmers' real net income was only about half its level in 1979.
Many say that the race in November will be decided in the South. President Reagan is depending on the conservative South to return him to office. But the South, I tell you, is unnaturally conservative. The South is the poorest region in our nation and, therefore, [has] the least to conserve. In his appeal to the South, Mr. Reagan is trying to substitute flags and prayer cloths for food, and clothing, and education, health care, and housing.
Mr. Reagan will ask us to pray, and I believe in prayer. I have come to this way by the power of prayer. But then, we must watch false prophecy. He cuts energy assistance to the poor, cuts breakfast programs from children, cuts lunch programs from children, cuts job training from children, and then says to an empty table, "Let us pray." Apparently, he is not familiar with the structure of a prayer. You thank the Lord for the food that you are about to receive, not the food that just left. I think that we should pray, but don't pray for the food that left. Pray for the man that took the food to leave. We need a change. We need a change in November.
Under Mr. Reagan, the misery index has risen for the poor. The danger index has risen for everybody. Under this administration, we've lost the lives of our boys in Central America and Honduras, in Grenada, in Lebanon, in nuclear standoff in Europe. Under this Administration, one-third of our children believe they will die in a nuclear war. The danger index is increasing in this world. All the talk about the defense against Russia; the Russian submarines are closer, and their missiles are more accurate. We live in a world tonight more miserable and a world more dangerous.
While Reaganomics and Reaganism is talked about often, so often we miss the real meaning. Reaganism is a spirit, and Reaganomics represents the real economic facts of life. In 1980, Mr. George Bush, a man with reasonable access to Mr. Reagan, did an analysis of Mr. Reagan's economic plan. Mr. George Bush concluded that Reagan's plan was ''voodoo economics.'' He was right. Third-party candidate John Anderson said "a combination of military spending, tax cuts, and a balanced budget by '84 would be accomplished with blue smoke and mirrors." They were both right.
Mr. Reagan talks about a dynamic recovery. There's some measure of recovery. Three and a half years later, unemployment has inched just below where it was when he took office in 1981. There are still 8.1 million people officially unemployed; 11 million working only part-time. Inflation has come down, but let's analyze for a moment who has paid the price for this superficial economic recovery.
Mr. Reagan curbed inflation by cutting consumer demand. He cut consumer demand with conscious and callous fiscal and monetary policies. He used the Federal budget to deliberately induce unemployment and curb social spending. He then weighed and supported tight monetary policies of the Federal Reserve Board to deliberately drive up interest rates, again to curb consumer demand created through borrowing. Unemployment reached 10.7 percent. We experienced skyrocketing interest rates. Our dollar inflated abroad. There were record bank failures, record farm foreclosures, record business bankruptcies; record budget deficits, record trade deficits.
Mr. Reagan brought inflation down by destabilizing our economy and disrupting family life. He promised -- he promised in 1980 a balanced budget. But instead we now have a record 200 billion dollar budget deficit. Under Mr. Reagan, the cumulative budget deficit for his four years is more than the sum total of deficits from George Washington to Jimmy Carter combined. I tell you, we need a change.
How is he paying for these short-term jobs? Reagan's economic recovery is being financed by deficit spending -- 200 billion dollars a year. Military spending, a major cause of this deficit, is projected over the next five years to be nearly 2 trillion dollars, and will cost about 40,000 dollars for every taxpaying family. When the Government borrows 200 billion dollars annually to finance the deficit, this encourages the private sector to make its money off of interest rates as opposed to development and economic growth.
Even money abroad, we don't have enough money domestically to finance the debt, so we are now borrowing money abroad, from foreign banks, governments and financial institutions: 40 billion dollars in 1983; 70-80 billion dollars in 1984 -- 40 percent of our total; over 100 billion dollars -- 50 percent of our total -- in 1985. By 1989, it is projected that 50 percent of all individual income taxes will be going just to pay for interest on that debt. The United States used to be the largest exporter of capital, but under Mr. Reagan we will quite likely become the largest debtor nation.
About two weeks ago, on July the 4th, we celebrated our Declaration of Independence, yet every day supply-side economics is making our nation more economically dependent and less economically free. Five to six percent of our Gross National Product is now being eaten up with President Reagan's budget deficits. To depend on foreign military powers to protect our national security would be foolish, making us dependent and less secure. Yet, Reaganomics has us increasingly dependent on foreign economic sources. This consumer-led but deficit-financed recovery is unbalanced and artificial. We have a challenge as Democrats to point a way out.
Democracy guarantees opportunity, not success.
Democracy guarantees the right to participate, not a license for either a majority or a minority to dominate.
The victory for the Rainbow Coalition in the Platform debates today was not whether we won or lost, but that we raised the right issues. We could afford to lose the vote; issues are non-negotiable. We could not afford to avoid raising the right questions. Our self-respect and our moral integrity were at stake. Our heads are perhaps bloody, but not bowed. Our back is straight. We can go home and face our people. Our vision is clear.
When we think, on this journey from slave-ship to championship, that we have gone from the planks of the Boardwalk in Atlantic City in 1964 to fighting to help write the planks in the platform in San Francisco in '84, there is a deep and abiding sense of joy in our souls in spite of the tears in our eyes. Though there are missing planks, there is a solid foundation upon which to build. Our party can win, but we must provide hope which will inspire people to struggle and achieve; provide a plan that shows a way out of our dilemma and then lead the way.
In 1984, my heart is made to feel glad because I know there is a way out -- justice. The requirement for rebuilding America is justice. The linchpin of progressive politics in our nation will not come from the North; they, in fact, will come from the South. That is why I argue over and over again. We look from Virginia around to Texas, there's only one black Congressperson out of 115. Nineteen years later, we're locked out of the Congress, the Senate and the Governor's mansion. What does this large black vote mean? Why do I fight to win second primaries and fight gerrymandering and annexation and at-large [elections]. Why do we fight over that? Because I tell you, you cannot hold someone in the ditch unless you linger there with them. Unless you linger there.
If you want a change in this nation, you enforce that Voting Rights Act. We'll get 12 to 20 Black, Hispanics, female and progressive congresspersons from the South. We can save the cotton, but we've got to fight the boll weevils. We've got to make a judgment. We've got to make a judgment.
It is not enough to hope ERA will pass. How can we pass ERA? If Blacks vote in great numbers, progressive Whites win. It's the only way progressive Whites win. If Blacks vote in great numbers, Hispanics win. When Blacks, Hispanics, and progressive Whites vote, women win. When women win, children win. When women and children win, workers win. We must all come up together. We must come up together.
Thank you.
For all of our joy and excitement, we must not save the world and lose our souls. We should never short-circuit enforcing the Voting Rights Act at every level. When one of us rise[s], all of us will rise. Justice is the way out. Peace is the way out. We should not act as if nuclear weaponry is negotiable and debatable.
In this world in which we live, we dropped the bomb on Japan and felt guilty, but in 1984 other folks [have] also got bombs. This time, if we drop the bomb, six minutes later we, too, will be destroyed. It's not about dropping the bomb on somebody. It is about dropping the bomb on everybody. We must choose to develop minds over guided missiles, and think it out and not fight it out. It's time for a change.
Our foreign policy must be characterized by mutual respect, not by gunboat diplomacy, big stick diplomacy, and threats. Our nation at its best feeds the hungry. Our nation at its worst, at its worst, will mine the harbors of Nicaragua, at its worst will try to overthrow their government, at its worst will cut aid to American education and increase the aid to El Salvador; at its worst, our nation will have partnerships with South Africa. That's a moral disgrace. It's a moral disgrace. It's a moral disgrace.
We look at Africa. We cannot just focus on Apartheid in Southern Africa. We must fight for trade with Africa, and not just aid to Africa. We cannot stand idly by and say we will not relate to Nicaragua unless they have elections there, and then embrace military regimes in Africa overthrowing democratic governments in Nigeria and Liberia and Ghana. We must fight for democracy all around the world and play the game by one set of rules.
Peace in this world. Our present formula for peace in the Middle East is inadequate. It will not work. There are 22 nations in the Middle East. Our nation must be able to talk and act and influence all of them. We must build upon Camp David, and measure human rights by one yard stick. In that region we have too many interests and too few friends.
There is a way out -- jobs. Put America back to work. When I was a child growing up in Greenville, South Carolina, the Reverend Sample used to preach every so often a sermon relating to Jesus. And he said, "If I be lifted up, I'll draw all men unto me." I didn't quite understand what he meant as a child growing up, but I understand a little better now. If you raise up truth, it's magnetic. It has a way of drawing people.
With all this confusion in this Convention, the bright lights and parties and big fun, we must raise up the simple proposition: If we lift up a program to feed the hungry, they'll come running; if we lift up a program to study war no more, our youth will come running; if we lift up a program to put America back to work, and an alternative to welfare and despair, they will come working.
If we cut that military budget without cutting our defense, and use that money to rebuild bridges and put steel workers back to work, and use that money and provide jobs for our cities, and use that money to build schools and pay teachers and educate our children and build hospitals and train doctors and train nurses, the whole nation will come running to us.
As I leave you now, we vote in this convention and get ready to go back across this nation in a couple of days. In this campaign, I've tried to be faithful to my promise. I lived in old barrios, ghettos, and reservations and housing projects. I have a message for our youth. I challenge them to put hope in their brains and not dope in their veins. I told them that like Jesus, I, too, was born in the slum. But just because you're born in the slum does not mean the slum is born in you, and you can rise above it if your mind is made up. I told them in every slum there are two sides. When I see a broken window -- that's the slummy side. Train some youth to become a glazier -- that's the sunny side. When I see a missing brick -- that's the slummy side. Let that child in the union and become a brick mason and build -- that's the sunny side. When I see a missing door -- that's the slummy side. Train some youth to become a carpenter -- that's the sunny side. And when I see the vulgar words and hieroglyphics of destitution on the walls -- that's the slummy side. Train some youth to become a painter, an artist -- that's the sunny side.
We leave this place looking for the sunny side because there's a brighter side somewhere. I'm more convinced than ever that we can win. We will vault up the rough side of the mountain. We can win. I just want young America to do me one favor, just one favor. Exercise the right to dream. You must face reality -- that which is. But then dream of a reality that ought to be -- that must be. Live beyond the pain of reality with the dream of a bright tomorrow. Use hope and imagination as weapons of survival and progress. Use love to motivate you and obligate you to serve the human family.
Young America, dream. Choose the human race over the nuclear race. Bury the weapons and don't burn the people. Dream -- dream of a new value system. Teachers who teach for life and not just for a living; teach because they can't help it. Dream of lawyers more concerned about justice than a judgeship. Dream of doctors more concerned about public health than personal wealth. Dream of preachers and priests who will prophesy and not just profiteer. Preach and dream!
Our time has come. Our time has come. Suffering breeds character. Character breeds faith. In the end, faith will not disappoint. Our time has come. Our faith, hope, and dreams will prevail. Our time has come. Weeping has endured for nights, but now joy cometh in the morning. Our time has come. No grave can hold our body down. Our time has come. No lie can live forever. Our time has come. We must leave racial battle ground and come to economic common ground and moral higher ground. America, our time has come. We come from disgrace to amazing grace. Our time has come. Give me your tired, give me your poor, your huddled masses who yearn to breathe free and come November, there will be a change because our time has come.
http://www.americanrhetoric.com/speeches/jessejackson1984dnc.htm
Jesse Jackson
1984 Democratic National Convention Address
"The Rainbow Coalition"
Delivered 18 July 1984, San Francisco
Thank you very much.
Tonight we come together bound by our faith in a mighty God, with genuine respect and love for our country, and inheriting the legacy of a great Party, the Democratic Party, which is the best hope for redirecting our nation on a more humane, just, and peaceful course.
This is not a perfect party. We are not a perfect people. Yet, we are called to a perfect mission. Our mission: to feed the hungry; to clothe the naked; to house the homeless; to teach the illiterate; to provide jobs for the jobless; and to choose the human race over the nuclear race.
We are gathered here this week to nominate a candidate and adopt a platform which will expand, unify, direct, and inspire our Party and the nation to fulfill this mission. My constituency is the desperate, the damned, the disinherited, the disrespected, and the despised. They are restless and seek relief. They have voted in record numbers. They have invested the faith, hope, and trust that they have in us. The Democratic Party must send them a signal that we care. I pledge my best not to let them down.
There is the call of conscience, redemption, expansion, healing, and unity. Leadership must heed the call of conscience, redemption, expansion, healing, and unity, for they are the key to achieving our mission. Time is neutral and does not change things. With courage and initiative, leaders change things.
No generation can choose the age or circumstance in which it is born, but through leadership it can choose to make the age in which it is born an age of enlightenment, an age of jobs, and peace, and justice. Only leadership -- that intangible combination of gifts, the discipline, information, circumstance, courage, timing, will and divine inspiration -- can lead us out of the crisis in which we find ourselves. Leadership can mitigate the misery of our nation. Leadership can part the waters and lead our nation in the direction of the Promised Land. Leadership can lift the boats stuck at the bottom.
I have had the rare opportunity to watch seven men, and then two, pour out their souls, offer their service, and heal and heed the call of duty to direct the course of our nation. There is a proper season for everything. There is a time to sow and a time to reap. There's a time to compete and a time to cooperate.
I ask for your vote on the first ballot as a vote for a new direction for this Party and this nation -- a vote of conviction, a vote of conscience. But I will be proud to support the nominee of this convention for the Presidency of the United States of America. Thank you.
I have watched the leadership of our party develop and grow. My respect for both Mr. Mondale and Mr. Hart is great. I have watched them struggle with the crosswinds and crossfires of being public servants, and I believe they will both continue to try to serve us faithfully.
I am elated by the knowledge that for the first time in our history a woman, Geraldine Ferraro, will be recommended to share our ticket.
Throughout this campaign, I've tried to offer leadership to the Democratic Party and the nation. If, in my high moments, I have done some good, offered some service, shed some light, healed some wounds, rekindled some hope, or stirred someone from apathy and indifference, or in any way along the way helped somebody, then this campaign has not been in vain.
For friends who loved and cared for me, and for a God who spared me, and for a family who understood, I am eternally grateful.
If, in my low moments, in word, deed or attitude, through some error of temper, taste, or tone, I have caused anyone discomfort, created pain, or revived someone's fears, that was not my truest self. If there were occasions when my grape turned into a raisin and my joy bell lost its resonance, please forgive me. Charge it to my head and not to my heart. My head -- so limited in its finitude; my heart, which is boundless in its love for the human family. I am not a perfect servant. I am a public servant doing my best against the odds. As I develop and serve, be patient: God is not finished with me yet.
This campaign has taught me much; that leaders must be tough enough to fight, tender enough to cry, human enough to make mistakes, humble enough to admit them, strong enough to absorb the pain, and resilient enough to bounce back and keep on moving.
For leaders, the pain is often intense. But you must smile through your tears and keep moving with the faith that there is a brighter side somewhere.
I went to see Hubert Humphrey three days before he died. He had just called Richard Nixon from his dying bed, and many people wondered why. And I asked him. He said, "Jesse, from this vantage point, the sun is setting in my life, all of the speeches, the political conventions, the crowds, and the great fights are behind me now. At a time like this you are forced to deal with your irreducible essence, forced to grapple with that which is really important to you. And what I've concluded about life," Hubert Humphrey said, "When all is said and done, we must forgive each other, and redeem each other, and move on."
Our party is emerging from one of its most hard fought battles for the Democratic Party's presidential nomination in our history. But our healthy competition should make us better, not bitter. We must use the insight, wisdom, and experience of the late Hubert Humphrey as a balm for the wounds in our Party, this nation, and the world. We must forgive each other, redeem each other, regroup, and move one. Our flag is red, white and blue, but our nation is a rainbow -- red, yellow, brown, black and white -- and we're all precious in God's sight.
America is not like a blanket -- one piece of unbroken cloth, the same color, the same texture, the same size. America is more like a quilt: many patches, many pieces, many colors, many sizes, all woven and held together by a common thread. The white, the Hispanic, the black, the Arab, the Jew, the woman, the native American, the small farmer, the businessperson, the environmentalist, the peace activist, the young, the old, the lesbian, the gay, and the disabled make up the American quilt.
Even in our fractured state, all of us count and fit somewhere. We have proven that we can survive without each other. But we have not proven that we can win and make progress without each other. We must come together.
From Fannie Lou Hamer in Atlantic City in 1964 to the Rainbow Coalition in San Francisco today; from the Atlantic to the Pacific, we have experienced pain but progress, as we ended American apartheid laws. We got public accommodations. We secured voting rights. We obtained open housing, as young people got the right to vote. We lost Malcolm, Martin, Medgar, Bobby, John, and Viola. The team that got us here must be expanded, not abandoned.
Twenty years ago, tears welled up in our eyes as the bodies of Schwerner, Goodman, and Chaney were dredged from the depths of a river in Mississippi. Twenty years later, our communities, black and Jewish, are in anguish, anger, and pain. Feelings have been hurt on both sides. There is a crisis in communications. Confusion is in the air. But we cannot afford to lose our way. We may agree to agree; or agree to disagree on issues; we must bring back civility to these tensions.
We are co-partners in a long and rich religious history -- the Judeo-Christian traditions. Many blacks and Jews have a shared passion for social justice at home and peace abroad. We must seek a revival of the spirit, inspired by a new vision and new possibilities. We must return to higher ground. We are bound by Moses and Jesus, but also connected with Islam and Mohammed. These three great religions, Judaism, Christianity, and Islam, were all born in the revered and holy city of Jerusalem.
We are bound by Dr. Martin Luther King Jr. and Rabbi Abraham Heschel, crying out from their graves for us to reach common ground. We are bound by shared blood and shared sacrifices. We are much too intelligent, much too bound by our Judeo-Christian heritage, much too victimized by racism, sexism, militarism, and anti-Semitism, much too threatened as historical scapegoats to go on divided one from another. We must turn from finger pointing to clasped hands. We must share our burdens and our joys with each other once again. We must turn to each other and not on each other and choose higher ground.
Twenty years later, we cannot be satisfied by just restoring the old coalition. Old wine skins must make room for new wine. We must heal and expand. The Rainbow Coalition is making room for Arab Americans. They, too, know the pain and hurt of racial and religious rejection. They must not continue to be made pariahs. The Rainbow Coalition is making room for Hispanic Americans who this very night are living under the threat of the Simpson-Mazzoli bill; and farm workers from Ohio who are fighting the Campbell Soup Company with a boycott to achieve legitimate workers' rights.
The Rainbow is making room for the Native American, the most exploited people of all, a people with the greatest moral claim amongst us. We support them as they seek the restoration of their ancient land and claim amongst us. We support them as they seek the restoration of land and water rights, as they seek to preserve their ancestral homeland and the beauty of a land that was once all theirs. They can never receive a fair share for all they have given us. They must finally have a fair chance to develop their great resources and to preserve their people and their culture.
The Rainbow Coalition includes Asian Americans, now being killed in our streets -- scapegoats for the failures of corporate, industrial, and economic policies.
The Rainbow is making room for the young Americans. Twenty years ago, our young people were dying in a war for which they could not even vote. Twenty years later, young America has the power to stop a war in Central America and the responsibility to vote in great numbers. Young America must be politically active in 1984. The choice is war or peace. We must make room for young America.
The Rainbow includes disabled veterans. The color scheme fits in the Rainbow. The disabled have their handicap revealed and their genius concealed; while the able-bodied have their genius revealed and their disability concealed. But ultimately, we must judge people by their values and their contribution. Don't leave anybody out. I would rather have Roosevelt in a wheelchair than Reagan on a horse.
The Rainbow is making room for small farmers. They have suffered tremendously under the Reagan regime. They will either receive 90 percent parity or 100 percent charity. We must address their concerns and make room for them. The Rainbow includes lesbians and gays. No American citizen ought be denied equal protection from the law.
We must be unusually committed and caring as we expand our family to include new members. All of us must be tolerant and understanding as the fears and anxieties of the rejected and the party leadership express themselves in many different ways. Too often what we call hate -- as if it were some deeply-rooted philosophy or strategy -- is simply ignorance, anxiety, paranoia, fear, and insecurity. To be strong leaders, we must be long-suffering as we seek to right the wrongs of our Party and our nation. We must expand our Party, heal our Party, and unify our Party. That is our mission in 1984.
We are often reminded that we live in a great nation -- and we do. But it can be greater still. The Rainbow is mandating a new definition of greatness. We must not measure greatness from the mansion down, but the manger up. Jesus said that we should not be judged by the bark we wear but by the fruit that we bear. Jesus said that we must measure greatness by how we treat the least of these.
President Reagan says the nation is in recovery. Those 90,000 corporations that made a profit last year but paid no federal taxes are recovering. The 37,000 military contractors who have benefited from Reagan's more than doubling of the military budget in peacetime, surely they are recovering. The big corporations and rich individuals who received the bulk of a three-year, multibillion tax cut from Mr. Reagan are recovering. But no such recovery is under way for the least of these.
Rising tides don't lift all boats, particularly those stuck at the bottom. For the boats stuck at the bottom there's a misery index. This Administration has made life more miserable for the poor. Its attitude has been contemptuous. Its policies and programs have been cruel and unfair to working people. They must be held accountable in November for increasing infant mortality among the poor. In Detroit one of the great cities of the western world, babies are dying at the same rate as Honduras, the most underdeveloped nation in our hemisphere. This Administration must be held accountable for policies that have contributed to the growing poverty in America. There are now 34 million people in poverty, 15 percent of our nation. 23 million are White; 11 million Black, Hispanic, Asian, and others -- mostly women and children. By the end of this year, there will be 41 million people in poverty. We cannot stand idly by. We must fight for a change now.
Under this regime we look at Social Security. The '81 budget cuts included nine permanent Social Security benefit cuts totaling 20 billion over five years. Small businesses have suffered under Reagan tax cuts. Only 18 percent of total business tax cuts went to them; 82 percent to big businesses. Health care under Mr. Reagan has already been sharply cut. Education under Mr. Reagan has been cut 25 percent. Under Mr. Reagan there are now 9.7 million female head families. They represent 16 percent of all families. Half of all of them are poor. 70 percent of all poor children live in a house headed by a woman, where there is no man. Under Mr. Reagan, the Administration has cleaned up only 6 of 546 priority toxic waste dumps. Farmers' real net income was only about half its level in 1979.
Many say that the race in November will be decided in the South. President Reagan is depending on the conservative South to return him to office. But the South, I tell you, is unnaturally conservative. The South is the poorest region in our nation and, therefore, [has] the least to conserve. In his appeal to the South, Mr. Reagan is trying to substitute flags and prayer cloths for food, and clothing, and education, health care, and housing.
Mr. Reagan will ask us to pray, and I believe in prayer. I have come to this way by the power of prayer. But then, we must watch false prophecy. He cuts energy assistance to the poor, cuts breakfast programs from children, cuts lunch programs from children, cuts job training from children, and then says to an empty table, "Let us pray." Apparently, he is not familiar with the structure of a prayer. You thank the Lord for the food that you are about to receive, not the food that just left. I think that we should pray, but don't pray for the food that left. Pray for the man that took the food to leave. We need a change. We need a change in November.
Under Mr. Reagan, the misery index has risen for the poor. The danger index has risen for everybody. Under this administration, we've lost the lives of our boys in Central America and Honduras, in Grenada, in Lebanon, in nuclear standoff in Europe. Under this Administration, one-third of our children believe they will die in a nuclear war. The danger index is increasing in this world. All the talk about the defense against Russia; the Russian submarines are closer, and their missiles are more accurate. We live in a world tonight more miserable and a world more dangerous.
While Reaganomics and Reaganism is talked about often, so often we miss the real meaning. Reaganism is a spirit, and Reaganomics represents the real economic facts of life. In 1980, Mr. George Bush, a man with reasonable access to Mr. Reagan, did an analysis of Mr. Reagan's economic plan. Mr. George Bush concluded that Reagan's plan was ''voodoo economics.'' He was right. Third-party candidate John Anderson said "a combination of military spending, tax cuts, and a balanced budget by '84 would be accomplished with blue smoke and mirrors." They were both right.
Mr. Reagan talks about a dynamic recovery. There's some measure of recovery. Three and a half years later, unemployment has inched just below where it was when he took office in 1981. There are still 8.1 million people officially unemployed; 11 million working only part-time. Inflation has come down, but let's analyze for a moment who has paid the price for this superficial economic recovery.
Mr. Reagan curbed inflation by cutting consumer demand. He cut consumer demand with conscious and callous fiscal and monetary policies. He used the Federal budget to deliberately induce unemployment and curb social spending. He then weighed and supported tight monetary policies of the Federal Reserve Board to deliberately drive up interest rates, again to curb consumer demand created through borrowing. Unemployment reached 10.7 percent. We experienced skyrocketing interest rates. Our dollar inflated abroad. There were record bank failures, record farm foreclosures, record business bankruptcies; record budget deficits, record trade deficits.
Mr. Reagan brought inflation down by destabilizing our economy and disrupting family life. He promised -- he promised in 1980 a balanced budget. But instead we now have a record 200 billion dollar budget deficit. Under Mr. Reagan, the cumulative budget deficit for his four years is more than the sum total of deficits from George Washington to Jimmy Carter combined. I tell you, we need a change.
How is he paying for these short-term jobs? Reagan's economic recovery is being financed by deficit spending -- 200 billion dollars a year. Military spending, a major cause of this deficit, is projected over the next five years to be nearly 2 trillion dollars, and will cost about 40,000 dollars for every taxpaying family. When the Government borrows 200 billion dollars annually to finance the deficit, this encourages the private sector to make its money off of interest rates as opposed to development and economic growth.
Even money abroad, we don't have enough money domestically to finance the debt, so we are now borrowing money abroad, from foreign banks, governments and financial institutions: 40 billion dollars in 1983; 70-80 billion dollars in 1984 -- 40 percent of our total; over 100 billion dollars -- 50 percent of our total -- in 1985. By 1989, it is projected that 50 percent of all individual income taxes will be going just to pay for interest on that debt. The United States used to be the largest exporter of capital, but under Mr. Reagan we will quite likely become the largest debtor nation.
About two weeks ago, on July the 4th, we celebrated our Declaration of Independence, yet every day supply-side economics is making our nation more economically dependent and less economically free. Five to six percent of our Gross National Product is now being eaten up with President Reagan's budget deficits. To depend on foreign military powers to protect our national security would be foolish, making us dependent and less secure. Yet, Reaganomics has us increasingly dependent on foreign economic sources. This consumer-led but deficit-financed recovery is unbalanced and artificial. We have a challenge as Democrats to point a way out.
Democracy guarantees opportunity, not success.
Democracy guarantees the right to participate, not a license for either a majority or a minority to dominate.
The victory for the Rainbow Coalition in the Platform debates today was not whether we won or lost, but that we raised the right issues. We could afford to lose the vote; issues are non-negotiable. We could not afford to avoid raising the right questions. Our self-respect and our moral integrity were at stake. Our heads are perhaps bloody, but not bowed. Our back is straight. We can go home and face our people. Our vision is clear.
When we think, on this journey from slave-ship to championship, that we have gone from the planks of the Boardwalk in Atlantic City in 1964 to fighting to help write the planks in the platform in San Francisco in '84, there is a deep and abiding sense of joy in our souls in spite of the tears in our eyes. Though there are missing planks, there is a solid foundation upon which to build. Our party can win, but we must provide hope which will inspire people to struggle and achieve; provide a plan that shows a way out of our dilemma and then lead the way.
In 1984, my heart is made to feel glad because I know there is a way out -- justice. The requirement for rebuilding America is justice. The linchpin of progressive politics in our nation will not come from the North; they, in fact, will come from the South. That is why I argue over and over again. We look from Virginia around to Texas, there's only one black Congressperson out of 115. Nineteen years later, we're locked out of the Congress, the Senate and the Governor's mansion. What does this large black vote mean? Why do I fight to win second primaries and fight gerrymandering and annexation and at-large [elections]. Why do we fight over that? Because I tell you, you cannot hold someone in the ditch unless you linger there with them. Unless you linger there.
If you want a change in this nation, you enforce that Voting Rights Act. We'll get 12 to 20 Black, Hispanics, female and progressive congresspersons from the South. We can save the cotton, but we've got to fight the boll weevils. We've got to make a judgment. We've got to make a judgment.
It is not enough to hope ERA will pass. How can we pass ERA? If Blacks vote in great numbers, progressive Whites win. It's the only way progressive Whites win. If Blacks vote in great numbers, Hispanics win. When Blacks, Hispanics, and progressive Whites vote, women win. When women win, children win. When women and children win, workers win. We must all come up together. We must come up together.
Thank you.
For all of our joy and excitement, we must not save the world and lose our souls. We should never short-circuit enforcing the Voting Rights Act at every level. When one of us rise[s], all of us will rise. Justice is the way out. Peace is the way out. We should not act as if nuclear weaponry is negotiable and debatable.
In this world in which we live, we dropped the bomb on Japan and felt guilty, but in 1984 other folks [have] also got bombs. This time, if we drop the bomb, six minutes later we, too, will be destroyed. It's not about dropping the bomb on somebody. It is about dropping the bomb on everybody. We must choose to develop minds over guided missiles, and think it out and not fight it out. It's time for a change.
Our foreign policy must be characterized by mutual respect, not by gunboat diplomacy, big stick diplomacy, and threats. Our nation at its best feeds the hungry. Our nation at its worst, at its worst, will mine the harbors of Nicaragua, at its worst will try to overthrow their government, at its worst will cut aid to American education and increase the aid to El Salvador; at its worst, our nation will have partnerships with South Africa. That's a moral disgrace. It's a moral disgrace. It's a moral disgrace.
We look at Africa. We cannot just focus on Apartheid in Southern Africa. We must fight for trade with Africa, and not just aid to Africa. We cannot stand idly by and say we will not relate to Nicaragua unless they have elections there, and then embrace military regimes in Africa overthrowing democratic governments in Nigeria and Liberia and Ghana. We must fight for democracy all around the world and play the game by one set of rules.
Peace in this world. Our present formula for peace in the Middle East is inadequate. It will not work. There are 22 nations in the Middle East. Our nation must be able to talk and act and influence all of them. We must build upon Camp David, and measure human rights by one yard stick. In that region we have too many interests and too few friends.
There is a way out -- jobs. Put America back to work. When I was a child growing up in Greenville, South Carolina, the Reverend Sample used to preach every so often a sermon relating to Jesus. And he said, "If I be lifted up, I'll draw all men unto me." I didn't quite understand what he meant as a child growing up, but I understand a little better now. If you raise up truth, it's magnetic. It has a way of drawing people.
With all this confusion in this Convention, the bright lights and parties and big fun, we must raise up the simple proposition: If we lift up a program to feed the hungry, they'll come running; if we lift up a program to study war no more, our youth will come running; if we lift up a program to put America back to work, and an alternative to welfare and despair, they will come working.
If we cut that military budget without cutting our defense, and use that money to rebuild bridges and put steel workers back to work, and use that money and provide jobs for our cities, and use that money to build schools and pay teachers and educate our children and build hospitals and train doctors and train nurses, the whole nation will come running to us.
As I leave you now, we vote in this convention and get ready to go back across this nation in a couple of days. In this campaign, I've tried to be faithful to my promise. I lived in old barrios, ghettos, and reservations and housing projects. I have a message for our youth. I challenge them to put hope in their brains and not dope in their veins. I told them that like Jesus, I, too, was born in the slum. But just because you're born in the slum does not mean the slum is born in you, and you can rise above it if your mind is made up. I told them in every slum there are two sides. When I see a broken window -- that's the slummy side. Train some youth to become a glazier -- that's the sunny side. When I see a missing brick -- that's the slummy side. Let that child in the union and become a brick mason and build -- that's the sunny side. When I see a missing door -- that's the slummy side. Train some youth to become a carpenter -- that's the sunny side. And when I see the vulgar words and hieroglyphics of destitution on the walls -- that's the slummy side. Train some youth to become a painter, an artist -- that's the sunny side.
We leave this place looking for the sunny side because there's a brighter side somewhere. I'm more convinced than ever that we can win. We will vault up the rough side of the mountain. We can win. I just want young America to do me one favor, just one favor. Exercise the right to dream. You must face reality -- that which is. But then dream of a reality that ought to be -- that must be. Live beyond the pain of reality with the dream of a bright tomorrow. Use hope and imagination as weapons of survival and progress. Use love to motivate you and obligate you to serve the human family.
Young America, dream. Choose the human race over the nuclear race. Bury the weapons and don't burn the people. Dream -- dream of a new value system. Teachers who teach for life and not just for a living; teach because they can't help it. Dream of lawyers more concerned about justice than a judgeship. Dream of doctors more concerned about public health than personal wealth. Dream of preachers and priests who will prophesy and not just profiteer. Preach and dream!
Our time has come. Our time has come. Suffering breeds character. Character breeds faith. In the end, faith will not disappoint. Our time has come. Our faith, hope, and dreams will prevail. Our time has come. Weeping has endured for nights, but now joy cometh in the morning. Our time has come. No grave can hold our body down. Our time has come. No lie can live forever. Our time has come. We must leave racial battle ground and come to economic common ground and moral higher ground. America, our time has come. We come from disgrace to amazing grace. Our time has come. Give me your tired, give me your poor, your huddled masses who yearn to breathe free and come November, there will be a change because our time has come.
Saturday, October 20, 2007
Reaganomics Finally Trickles Down To Area Man
http://www.theonion.com/content/news/reaganomics_finally_trickles_down
Reaganomics Finally Trickles Down To Area Man
October 13, 2007 Issue 43•41
HAZELWOOD, MO — Twenty-six years after Ronald Reagan first set his controversial fiscal policies into motion, the deceased president's massive tax cuts for the ultrarich at last trickled all the way down to deliver their bounty, in the form of a $10 bonus, to Hazelwood, MO car-wash attendant Frank Kellener.
The late President Ronald Reagan clearly had people like present-day car wash attendant Frank Kellener in mind when articulating his "trickle-down" economic theory in the early 1980s.
"Back when Reagan was in charge, I didn't think much of him," Kellener, 57, said, holding up two five-dollar bills nearly three decades in the making. "But who would have thought that in 2007 I'd have this extra $10 in my pocket? He may not have lived to see it, but I'm sure President Reagan is up in heaven smiling down on me right now."
Leading economists say Kellener's unexpected windfall provides the first irrefutable proof of the effectiveness of Reagan's so-called supply-side economics, and shows that the former president had "incredible, far-reaching foresight."
"When the tax burden on the upper income brackets is lifted, the rich and not-rich alike all benefit," said Arthur Laffer, who was a former member of Reagan's Economic Policy Advisory Board. "Eventually."
The $10 began its long journey into Kellener's wallet in 1983, when a beefed-up national defense budget of $210 billion enabled the military to purchase advanced warhead-delivery systems from aerospace manufacturer Lockheed. Buoyed by a multimillion-dollar bonus, then-CEO Martin Lawler bought a house on a 5,000-acre plot in Montana. When a forest fire destroyed his home in 1986, Lawler took the federal relief check and invested it in a savings and loan run by a Virginia man named Michael Webber. After Webber's firm collapsed in 1989, and he was indicted on fraud and conspiracy charges, he retained the services of high- powered law firm Rabin & Levy for his defense. After six years and $7 million in legal fees, Webber received only a $250,000 fine, and the defense team went out to celebrate at a Washington, D.C.-area restaurant called Di Forenza. During dinner, lawyer Peter Smith overheard several investment bankers at an adjoining table discussing a hot Internet start-up that was about to go public. Smith took a portion of his earnings from the Webber case and bought several hundred shares in Gadgets.com, quadrupling his investment before selling them four months later. Gadgets.com's two founders used the sudden influx of investment capital to outfit their office with modern Danish furniture, in a sale brokered by the New York gallery Modern Now! in 1998. After the ensuing dot-com bust, Modern Now! was forced out of business, and Sotheby's auction house was put in charge of liquidating its inventory. The commission from that auction enabled auctioneer Mary Schafer to retire to the Ozark region of Missouri in 2006. Last month, while passing through Hazelwood, she took her Audi to Marlin Car Wash, where Kellener was one of the employees who tended to her car. She was so satisfied with the job that she left a $50 tip, which the manager divided among the people working that day.
"This money didn't just affect one life," Laffer said. "It affected five."
Prior to joining Marlin Car Wash in 2005, Kellener worked for nearly two decades at a local Ford assembly plant that is now defunct. Before that, he was employed by the FAA as an air traffic controller until his union went on strike and Reagan fired him, along with nearly 13,000 others. This is the largest tip he has received in his professional life.
"I thought Reaganomics was nothing more than a mirage that allowed President Reagan to reward his wealthy support base," Sen. Edward Kennedy (D-MA) said. "But two generations later I am seeing Reaganomics in action, and I like what I see. It just took a little longer than I thought it was supposed to."
The tip has not gone unnoticed by the economic team in the current administration.
"Had Mr. Kellener received that money in 1981, like the Democrats wanted, it would only be worth $4.24 today because of inflation," Treasury Secretary Henry M. Paulson, Jr. said during an official announcement of the economic policy's success at a press conference Monday. "Instead, Kellener has a solid $10 to spend right here and now. The system works, and our current president intends to keep making it work."
Kellener, who has cared for his schizophrenic sister ever since her federally funded mental institution was closed in 1984, said that he plans to donate the full $10 to the Republican presidential candidate who best embodies Reagan's legacy.
Reaganomics Finally Trickles Down To Area Man
October 13, 2007 Issue 43•41
HAZELWOOD, MO — Twenty-six years after Ronald Reagan first set his controversial fiscal policies into motion, the deceased president's massive tax cuts for the ultrarich at last trickled all the way down to deliver their bounty, in the form of a $10 bonus, to Hazelwood, MO car-wash attendant Frank Kellener.
The late President Ronald Reagan clearly had people like present-day car wash attendant Frank Kellener in mind when articulating his "trickle-down" economic theory in the early 1980s.
"Back when Reagan was in charge, I didn't think much of him," Kellener, 57, said, holding up two five-dollar bills nearly three decades in the making. "But who would have thought that in 2007 I'd have this extra $10 in my pocket? He may not have lived to see it, but I'm sure President Reagan is up in heaven smiling down on me right now."
Leading economists say Kellener's unexpected windfall provides the first irrefutable proof of the effectiveness of Reagan's so-called supply-side economics, and shows that the former president had "incredible, far-reaching foresight."
"When the tax burden on the upper income brackets is lifted, the rich and not-rich alike all benefit," said Arthur Laffer, who was a former member of Reagan's Economic Policy Advisory Board. "Eventually."
The $10 began its long journey into Kellener's wallet in 1983, when a beefed-up national defense budget of $210 billion enabled the military to purchase advanced warhead-delivery systems from aerospace manufacturer Lockheed. Buoyed by a multimillion-dollar bonus, then-CEO Martin Lawler bought a house on a 5,000-acre plot in Montana. When a forest fire destroyed his home in 1986, Lawler took the federal relief check and invested it in a savings and loan run by a Virginia man named Michael Webber. After Webber's firm collapsed in 1989, and he was indicted on fraud and conspiracy charges, he retained the services of high- powered law firm Rabin & Levy for his defense. After six years and $7 million in legal fees, Webber received only a $250,000 fine, and the defense team went out to celebrate at a Washington, D.C.-area restaurant called Di Forenza. During dinner, lawyer Peter Smith overheard several investment bankers at an adjoining table discussing a hot Internet start-up that was about to go public. Smith took a portion of his earnings from the Webber case and bought several hundred shares in Gadgets.com, quadrupling his investment before selling them four months later. Gadgets.com's two founders used the sudden influx of investment capital to outfit their office with modern Danish furniture, in a sale brokered by the New York gallery Modern Now! in 1998. After the ensuing dot-com bust, Modern Now! was forced out of business, and Sotheby's auction house was put in charge of liquidating its inventory. The commission from that auction enabled auctioneer Mary Schafer to retire to the Ozark region of Missouri in 2006. Last month, while passing through Hazelwood, she took her Audi to Marlin Car Wash, where Kellener was one of the employees who tended to her car. She was so satisfied with the job that she left a $50 tip, which the manager divided among the people working that day.
"This money didn't just affect one life," Laffer said. "It affected five."
Prior to joining Marlin Car Wash in 2005, Kellener worked for nearly two decades at a local Ford assembly plant that is now defunct. Before that, he was employed by the FAA as an air traffic controller until his union went on strike and Reagan fired him, along with nearly 13,000 others. This is the largest tip he has received in his professional life.
"I thought Reaganomics was nothing more than a mirage that allowed President Reagan to reward his wealthy support base," Sen. Edward Kennedy (D-MA) said. "But two generations later I am seeing Reaganomics in action, and I like what I see. It just took a little longer than I thought it was supposed to."
The tip has not gone unnoticed by the economic team in the current administration.
"Had Mr. Kellener received that money in 1981, like the Democrats wanted, it would only be worth $4.24 today because of inflation," Treasury Secretary Henry M. Paulson, Jr. said during an official announcement of the economic policy's success at a press conference Monday. "Instead, Kellener has a solid $10 to spend right here and now. The system works, and our current president intends to keep making it work."
Kellener, who has cared for his schizophrenic sister ever since her federally funded mental institution was closed in 1984, said that he plans to donate the full $10 to the Republican presidential candidate who best embodies Reagan's legacy.
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