Pundit Says Republicans Committing Unforced Errors

Conservative economist Peter Morici writes today that Democrats are closing the gap with Republicans in polls nationwide, a trend he attributes solely to Republican missteps.

GOP leaders are failing to address the real problems ailing the nation’s economy, which he says were created by the policies of former President George W. Bush and continued by the Obama administration.

“The Pledge to America is a rehash of the platform of President George W. Bush-less taxes and government-and does not address the fundamental problems that have left the American growth machine broken,” Morici writes.

The ‘Pledge’ Morici refers to is a 21-page document released by a group of House Republicans two weeks ago intended to explain how the party would govern if it wins back Congress this November.

Morici, who teaches business at the University of Maryland, writes that instead of making vague promises to reel in the size of the federal government, Republicans should figure out how to crack down on Wall Street banks and help businesses compete in the global marketplace.

“Banks can’t lend because President Obama’s bank reforms boosted bonuses on Wall Street but left Main Street banks to the wolves,” he says. “Businesses can’t sell, because the trade policies of Clinton, Bush and Obama have permitted China’s manufacturers a huge unfair price advantage in U.S. and global markets through currency manipulation, mega subsidies and high barriers to U.S. exports.”

Failure to address these issues, Morici writes, will cost the GOP a sweep of both Houses this fall.

US and South Korea to Hold Large Scale Naval Excercise

The United States and South Korea are set to hold a massive naval excersise in the Sea of Japan and the Yellow Sea on July 25, in wake of high level diplomatic meetings in Seoul involving Secretary of State Hillary Clinton, who announced more sanctions against North Korea, and Defense Secretary Robert Gates.  The large scale war games are directed at North Korea in wake of the sinking of a South Korean ship, the Cheonan, but also have drawn a negative response from China.

By Philip Bunnell



Protesters March From Philadelphia To Protest Chinese Occupation Of Tibet

By Rob Sanna-Talk Radio News

On Tuesday, a collection of American and Tibetan congregated in front of the Chinese embassy in Washington D.C. to make a statement about China’s occupation of Tibet. A handful of those present marched from Philadelphia in a 10 day trip that spanned nearly 140 miles.

One activist who made the cross-state march commented that the response has thus far been positive.

“Mostly Americans have been really supportive,” he said. “It has been an honor and a pleasure to walk with these Tibetans.”

Larry Gerstein, President of the International Tibet Independence Movement, said the organization sent a letter the to embassy asking China to remove all military and political figures, release all political prisoners.

Tibet has been under Chinese control since the 1950s. 

A Vision For Ohio And America

Yesterday was Father's Day. I lost my father when I was 10. He was an immigrant, and the United States allowed him to do well, earn an Army-Navy Production Award for the production of gun triggers during World War II and provide well for his family. He was a model of charity and giving and was passionate about his newly adopted country and state, Ohio. His passion was passed on to us, his children.

We would ride to his office through small towns and on weekends take rides throughout small-town Ohio. It was post war, and Ohio was the heart of manufacturing and post war industry. There were homemade candy shops, mom and pop restaurants, gift shops, small department stores and everything you needed to have a great family life in each town. My father would stop, and we would talk to the shop owners. They were always nice. They were always proud.

On Saturday, I attended a wedding in Newark, Ohio, which is similar to the town I visited with my father in the 1950s. Newark is near Columbus and has become a bedroom location for people working in Columbus. It is doing a lot better than most small Ohio towns, but it is still a depressing place to visit. I went to the local beauty shop to get my hair done. The wash and blow dry was $15, nothing by New York or D.C. standards. While I was walking though the town, an older gentleman stopped me and asked me what I was doing walking in town on a Saturday afternoon. We talked about what Newark was post war and what a vibrant community it once was. He told me there were four hotels at one point, several clothing stores and a department store. Now as I walked around I saw no clothing stores, empty restaurants and a sign in front of one store saying "40 percent off: We need the cash flow." This is one of the most successful small towns. Others don't even have this level of commerce.

In the summer of 2008, I wrote an article titled "Is America, Cleveland?" describing my walk though my hometown and predicting what might happen. This was two months before the September market free-fall. I talked about the need for developing more infrastructures, especially broadband. There is still a need for that, but I wondered how to revive an economy and a town that remains beautiful but empty.

Lee Fisher, who I have known since childhood, is the lieutenant governor. He is now running for Senate. Lee has been a one-man business recruiter for Ohio, and he has done a great job. Lee is all about bringing new jobs for Ohio, and he is passionate about that. We grew up under Sputnik, when the school turned on a dime and we all learned the new math. Science was suddenly taught with gusto in the lower elementary grades. It worked, and America was able to remain competitive in the '60s and '70s. Now it is a different story. We need to do something different that includes new jobs but also a way to make the youngest children more competitive.

As I looked at Newark's town square, I thought of our greatest competition: China. The Chinese know how to use their public spaces. Early in the morning there are hundreds of people doing exercise, together in a group. Looking at the town square, I also thought of the major form of entertainment in the days before radio, television and the record player. Back then, lectures were held in the town square and people attended them to learn about the world and be entertained. Why, I thought on my walk around on Saturday, don't we do the same thing in Ohio? Why not do what my fifth grade teacher did when we were terrified of the Russians and their scientific advantage? Why not hold competitions and incentives to get our youngsters moving?

What if we took some of that stimulus money along with some corporate partnerships and have math, science and computer competitions during the summer evening and weekends in the town centers?

What if we taught advanced basics and gave out prizes and gift cards to the students who excelled and smaller incentives to the students who showed up? What if the grade school students learned the basics of programming? What if the big tent on the town green would attract students and families to learn and have fun, too?

Would it bring jobs in the great state of Ohio? No, not right now. But it would take kids away from television and hours playing computer games and move them to be the kind of whizzes we are going to need to compete. It will do what America did during Sputnik. The future Lee Fishers wouldn't have to be working day and night to try and find jobs for his fellow citizens, and Ohio would again be the center of knowledge and innovation and the future. So would America.

Geithner Addresses Economic Relations Between U.S. And China

By Robert Hune-Kalter-Talk Radio News Service

Treasury Secretary Tim Geithner testified before the Senate Finance Committee Thursday on U.S.-Chinese economic relations. Some issues discussed where China’s continued manipulation of their currency, the delayed exchange report policy, and the Chinese piracy of American software.

“Our policy towards China is about protecting the interests of the United States, our national security interests and our economic interests, and our strategy is to expand opportunities for American workers and American businesses,” said Geithner.

Chairman Max Baucus (D-Mont.) expressed concern that there is no strategic and coordinated United States economic policy in respect to China and that different government agencies are using different non-policies.

“It reminds me of a football team. You have a quarterback and fullbacks and running backs, and so forth, and if they don’t all run according to the same play that’s called, that team loses,” said Baucus. “I’m not saying this is a situation we want to win at China’s expense, I’m just saying we don’t want to lose.”

Sen. Ron Wyden (D-Ore.) supported China’s succession into the World Trade Organization. He believed it would be better for the Chinese to be inside a rules based trading system and it would be good for American exports. The Chinese agreed to join the government procurement agreement ten years ago.

“By my calculations, at least five of your predecessors have been slow-danced by the Chinese. We seem to constantly be in this situation, where someone in your position gets slow-danced off the dance floor,” Wyden said.

Geithner did not offer a timetable for when the final report on exchange rate policy would be complete, despite the request by the committee.

“We have put these economic issues at the center of our concerns in the relationship with China,” said Geithner.