One area in which there is a clear case of racial superiority is “How do all those white guys get their women to mow the grass?” Have you ever seen a black woman cutting grass? Me neither.
Obama’s poll numbers among women are falling. I wonder what would happen to those numbers if Michelle became pregnant?
We now hear the clamor for republican dominance. Now only the presidency and the house but also for 60 seats in the senate. The defeat of Coburn’s bill to eliminate duplication made It is clear that the democrats will never vote to slow down government spending and lower the national debt. So in order to get the senate to go along with deficit reduction, you need 60 votes. However, the government stunk it up when the republicans were solidly in charge and when the democrats had all three. Personally I think that we are better off when we have gridlock.
Speaking of dominance, does anyone think that if the feds got really serious, adopted Simpson-Bowles, lowered the amount of government spending – rather than the rate of increase, by bringing entitlements under control, that there would not be serious political repercussions, with the likely result that the democrats be voted back into power? Look at France as an example.
One of the ideas of bringing social security under control is to roll back benefits by instituting a means test. This is an absolute nonstarter. Those of us who have contributed the max to social security for all these years know we have been ripped off. As I have said, I have maxed out payments for 30 years and get $2,500 a month (less than a 1 percent return) while my mother never earned over $24,000 a year and her state pension is $2,000 a month more. So now you want to rip me off even more? Forget it. Its my money and I want it back.
Did you know that only 20 percent of American workers contribute an IRA?
As I pointed out before, the amount of government spending on entitlements takes up all the tax revenues so absolute spending reductions must occur in entitlements. Of course the way to go is to not affect spending on current recipients of social security and medicare. Rather by raising the full benefit age to 70 and indexing it to life expectancy will minimize public dissent.
Harold A. Black is professor emeritus in the Department of Finance, University of Tennessee, Knoxville having retired after 24 years of service. He has served on the faculties of American University, Howard University, the University of North Carolina - Chapel Hill and the University of Florida. His government service includes the Office of the Comptroller of the Currency and as a Board Member of the National Credit Union Administration. He also has served on the boards of directors Home Savings of America and its parent company, H. F. Ahmanson & Co., Irwindale, California prior to its merger with Washington Mutual Savings Bank, on the board of New Century Financial Corporation, Irvine, California, then the nation’s largest real estate investment trust and as director and later chairman of the Nashville Branch of the Federal Reserve Bank of Atlanta. He writes an occasional article for the Knoxville News-Sentinel at http://www.knoxnews.com/staff/dr-harold-black/. His web page is haroldablackphd.com