Tag: Nancy Pelosi

Categories
insider corruption

Is Congress the “One Percent”?

Splitting the country between the “99 percent” and the “1 percent” scapegoats successful people. Being rich is a good thing … unless the wealth is obtained dishonestly.

Which brings me to Congress.

Last Sunday, 60 Minutes featured Peter Schweizer, author of Throw Them All Out, a new book detailing what he calls “soft corruption” — unethical behavior that may not quite qualify as illegal.

Schweizer points out that members of Congress are not covered by laws against insider trading, thus legally able to “leverage” the information they receive to “enrich themselves.” At the cusp of the 2008 financial meltdown, Rep. Spencer Bacchus (R‑Ala.) was receiving special briefings from the Treasury Secretary and the Chairman of the Federal Reserve and “buying option funds that would go up in value if the market went down.”

Bacchus is hardly alone. During the healthcare debate, numerous congressmen traded healthcare stocks.

Then there are IPOs — initial public offerings of stock — which are usually available only to major investors. Somehow Speaker Nancy Pelosi was cut in on a least eight IPOs, including a lucrative one from VISA … at a time major credit card legislation was pending in the House.

None of “our” representatives deigned to openly discuss their amazing financial acumen. But as 60 Minutes correspondent Steve Croft confirmed, “Most former congressmen and senators manage to leave Washington, if they ever leave Washington, with more money in their pockets than they had when they arrived.”

Funny, they haven’t done nearly so well handling the country’s finances.

This is Common Sense. I’m Paul Jacob.

Categories
government transparency national politics & policies too much government

How to Find Out What’s In the Health Care Bill

When I heard what Nancy Pelosi said about the health care bill the other day, I did a double-​take. And had to double-​check the press release issued by Pelosi’s own office.

Yikes! She really said it! Then published it on her website to the accompaniment of bugles and trumpets! 

Okay, maybe I invented the bugles and trumpets. But not the words:

“Prevention, prevention, prevention — it’s about diet, not diabetes. It’s going to be very, very exciting. But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy.”

Ah yes, the “fog of the controversy”! The way critics of this 2000-​page legislation have exposed the regimentation, price controls, new taxes, and choked-​off choices we’ll all suffer if the bill passes. How dare we!

Terrible that there’s actually debate about whether we should permanently lose more of our freedoms. Can’t we all agree to be trampled and then find out what it all means? After it’s too late to stop it?

No. Let’s dispel the fog right now. Let the government mail a copy of the bill to every voter. 

And let Congress agree that every voter must pass a 500-​question multiple choice quiz on its contents before Congress moves forward. 

Let’s dispel the fog before we’re saddled with this thing.

This is Common Sense. I’m Paul Jacob.

Categories
insider corruption

Standards of Behavior

When it comes to standards, how low can we go?

Congressman Charlie Rangel had failed to report more than half a million on his congressional financial disclosure forms, violated rent control laws in New York, taken corporate-​funded junkets, and more. After being admonished by the House ethics committee, he has finally decided to take a leave of absence as chairman of the powerful Ways & Means Committee.

But before he stepped down, some excused him. House Speaker Nancy Pelosi argued that Rangel’s behavior “was not something that jeopardized our country in any way.” New York Times columnist Paul Krugman said, “It is worth pointing out that none of these things actually seem to affect national policy.”

Oh, goody! He didn’t destroy the entire country!

Then there’s a local scandal in Washington, D.C. Former crack-​mayor, current Councilmember Marion Barry allegedly earmarked his girlfriend a $15,000 city contract and then took a kickback from her. The council just censured Barry.

But Washington Post columnist Courtland Milloy notes that people in Barry’s 8th Ward are dying of AIDS at an alarming rate, while money appropriated to help has vanished. He writes, “If Barry did take a kickback from his girlfriend, they say, it didn’t result in somebody’s death. So why should he face censure when those who stole the AIDS money got away clean?”

He didn’t kill anyone: Our new standard for ethical behavior. Really?

This is Common Sense. I’m Paul Jacob.

Categories
free trade & free markets too much government

Disaster Economics 101

Could House Speaker Nancy Pelosi have spilled the beans, laid bare her party’s vision of economic growth in one offhand utterance?

A terrible tragedy in impoverished Haiti. An earthquake. The scope of the damage staggers the imagination … and spurs outpourings of charitable aid from America, and across the globe.

And this is where Mrs. Pelosi chimes in. As if she had never heard of the Broken Window Fallacy, she just blurted it out, hazarding that Haiti “can leap-​frog over its past challenges, economically, politically, and demographically in terms of the rich and the poor and the rest there, and have a new — just a new, fresh start.”

Over 70,000 dead, Haiti in ruins, and she’s talking about hope for a “real boom economy.” 

Now, I know, politicians like to spend money. They think it does a lot of good — though in Haiti’s case, the billions spent, previously, have sure fizzled. But Pelosi isn’t just arguing that the aid is going to remake an impoverished country. She thinks that scurrying about rebuilding is a net positive. 

If you wonder why politicians so like economic booms, even the most artificial ones, look no further. They cannot distinguish between real progress and the frenzy of making up for disaster.

Perhaps that’s why they are so nonchalant about the disasters their own taxes and regulations so often cause. 

This is Common Sense. I’m Paul Jacob.

Categories
government transparency

Grading the President

Barack Obama promised a new era of government transparency. He even pledged a fully transparent congressional debate on health care reform, telling us repeatedly that the negotiations would be televised on C‑Span.

Now in power, he’s forgotten that tune. But of course, that’s not up to him. It’s up to Senate Majority Leader Harry Reid and Speaker Nancy Pelosi. Last week, she laughed at such transparency.

But Clint Hendler of the Columbia Journalism Review has graded the president for what he — not Pelosi or Reid — can deliver on transparency. Regarding state secrets, Hendler gives Obama a “D.” With Freedom of Information Act requests the administration has done better: Mark it a “B.”

I’ve talked before about problems with the recovery​.gov website. But what about data​.gov? By the end of the month there should be some meat on that site’s database bones, but a lot more work will remain. Call it a “D‑plus.”

Hendler gives an “F” to the White House’s routine — and utterly opaque — practice of concocting off-​the-​record background briefings. An “A‑minus,” though, goes for White House visitor records … despite a refusal to issue lists of visitors in the administration’s first seven months. Further, the White House reserves its right to hold back this info at any time.

The president’s grades sure aren’t that of an overachiever. Maybe he needs a tutor.

This is Common Sense. I’m Paul Jacob.

Categories
national politics & policies porkbarrel politics

Failure to Lead

Politicians in Washington constantly tell us we’re in a serious crisis. But if it’s as serious as our solons say, surely it’s affected their own behavior, right?

Many CEOs of bailed out companies have sacrificed their normal salaries, accepting pay of only $1 for this year. 

Members of Congress? They gave themselves a pay raise.

CEOs have been attacked for using their corporate jets. Heads of Detroit automakers were so browbeaten that they actually drove to Washington to plead for bailouts. On the other hand, after obtaining and reviewing emails between Speaker Nancy Pelosi and the Air Force, Judicial Watch’s Tom Fitton says that “Speaker Pelosi treats the Air Force like her personal airline.”

But what about substance? Faced with tough times ahead and with taxpayers on the hook to pick up trillions in new spending, Congress might stop larding on extra pork, right?

Well, how important to our nation’s survival is a million dollars to study swine odor; $800,000 for oyster rehab; $200,000 for tattoo removal; $4 million to improve a street in Hattiesburg, Mississippi?

Leaders are supposed to lead. But, even in times of crisis, our so-​called leaders can only follow their oldest habit: spend.

This is Common Sense. I’m Paul Jacob.