The Weiner Component #154 – President Obama & the Republican Party

Official photographic portrait of US President...

Traditionally the Republicans stand for smaller government and the Democrats for a system responsible for the welfare of it citizens.  This means that the Republicans want more individual freedom and choice for the citizens, including the right to starve or go without proper medical care through a lack of funds.  The Democrats are more socially responsible and feel a need to take care of those who cannot take care of themselves.

 

Perhaps one of the most ardent Republicans was President Ronald Reagan who continually talked about “government being the problem.”  He voiced a desire for less government but left Washington at the end of his two terms in office with a far larger government than that with which he had begun eight years earlier.

 

In line with their desire to lower federal costs and weaken or do away with Obamacare, which was based upon a Republican model, the Republicans have recently won a pyrrhic victory against the 2010 law, Affordable Health Care.  Around May 12, 2016 a Federal Judge, initially appointed by a Republican President, found the practice of the Federal Government of helping to subsidize premium payments for those who cannot afford to make them, illegal since it was not specifically mentioned in the law.  The 38 page decision by the judge who reasoned that since the law did not specifically state this practice, the act of doing so was illegal.  The judge, however, did not put her decision into immediate operation.  Instead she allowed the practice to continue until after her decision is appealed.  Way to go Republicans, attempting to balance the budget on the backs of the poor who may lose their medical coverage!

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Watching the progress of Congress by both the Republicans and the Democrats one gets the impression that nothing ever gets done.  No necessary laws ever get passed.  The House of Representatives has given itself a 110 day legislating year; they are working a three day week, not including holidays.  The Senate will meet for a somewhat longer period.

 

The two political parties began the preliminary process of choosing their presidential candidates early in 2016.  In the Republican state preliminary elections and caucuses the initial debate between the possible candidates dealt with how bad the present administration is and how a Republican president would make the country great again.  It’s as though nothing has happened since 2009 when Barack Obama was elected to the presidency.  It would seem, according to the Republican candidates that there is no history behind the present campaign.  This, of course, is not true.  The history has been ignored or edited, particularly by the Republican Party.

 

The Great Recession, which could easily have been the Greatest Depression in our history, began under the reign of the Republican President, George W. Bush toward the end of 2008, his last year as president.  He took some action but mainly left the problem for the next President, Barack Obama.

 

During his first two years in office, 2009 and 2010, President Obama changed a potential massive depression into a recession, restored the major banking houses in the United States and the automobile industry from bankruptcy by massive government loans and signed the Affordable Health Care Bill into law.

 

At the time both the House of Representatives and the Senate had Democratic majorities.  In the 2010 Midterm Election a large number of Democrats did not bother to vote and the Republicans achieved a majority in the House of Representatives, actually killing any chance for further reform since the Republican philosophy of government tends to be the opposite of that of the Democrats .  In addition since 2010 was a Census Year, the Republicans gerrymandered the states where they controlled the governorships and the legislatures making it easier for them to keep control of the House of Representatives.  In the 2012 Presidential Election the Democrats cast a million-and-a-quarter more votes were cast for Democratic candidates than for the Republican members of the House of Representatives but the Republicans still retained control of the House.  The same thing is likely to happen in the 2016 Presidential Election.

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In the 2016 Primary Elections the Republicans are quite vociferous in stating what President Obama didn’t do.  What they don’t state is that most of the things he is blamed for not doing are functions of Congress.  Congress passes the laws in the United States.  The President can sign or veto a law.  If he vetoes a law Congress can still pass it with a 2/3 majority in both Houses.

 

Basically the current Congress, which has a Republican majority in both Houses, has done virtually nothing since they achieved a Republican majority in 2014 or since the Republicans won control of the House of Representatives in 2011.  Today we have the Tea Party which is an extremely conservative section of the conservative Republican Party that is totally against Big Government and sees all economics as Micro, small economics.  Unfortunately they represent a number of seats in the House and Senate.

 

Economists today understand depressions and recessions and how to properly deal with them.  Economics exists upon two major levels: one is called Microeconomics, which deals with household finances, city, state, and business funding.  The other is Macroeconomics which deals with the Federal Government, which owns the printing presses that print and issue money.  They are two totally different entities.  Except the Republicans do not understand or accept the concept of Macroeconomics.

 

Money today has nothing behind it except the word of the government that printed it.  There is no gold or other precious metal that today stands behind any currency.  The amount in circulation is supposed to be regulated so that there is enough to easily carry out all the business functions within the nation and between nations.  Unfortunately this does not always happen and inflation or deflation can occur.  In the United States the Federal Reserve controls the amount of cash in circulation.  In most other nations there is generally a National Bank that does this.  This process is Macroeconomics.

 

The National Debt, of which the Federal Government owns over 50% of its own debt and will, at times, use it to control the amount of currency in circulation.  This was done recently by the former Chairman of the Federal Reserve, Ben Bernanke, for over a two year period adding 85 billion dollars a month to the National Cash Flow.  It was gradually ended by the current Chairperson, Janet Yellen.

 

The members of the Republican Party do not appreciate or understand any of this.  From statements made by various Congressional members of the Tea Party and other Republicans their understanding of economics is based upon raising a family, Microeconomics.  They see everything in those terms.  One has an income, taxes, and one can spend it.  If an individual or country wants to spend more he has to borrow money which, in turn, has to be paid back with interest.

 

That seems to be the limit of their understanding.  It can lead to recessions and depressions.  Donald Trump has added another level to this misunderstanding.  He seems to think the government can renege on part of its debt as he has done in business with three bankruptcies.   Statements like that can destroy the value of the dollar, particularly if he were to be elected president.

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To say that the Republicans have done nothing is to give them positive credit.  Instead they were able to get through the Budget Control Act of 2011 which began on March 1, 2013.  This was the sequester, automatic cuts across the board on all government programs with the exception of Social Security, Medicaid, federal pensions, and veteran’s benefits.  These would cover all other military and discretionary programs every year until the year 2021.  Medicare rates were reduced 2%.  Sequestration also resulted in unpaid time off to many federal government workers, this was known as furloughs.

 

These cuts during a recession tended to shrink the economy and slow recovery.  Interestingly by 2015 the military was complaining that with the sequester cuts their effectiveness was significantly decreasing.  From that time on Congress tended to pass yearly bills ignoring the effects of sequestration upon the military.

 

Also in 2013 the House of Representatives, with hefty leadership by Senator Ted Cruz who is not even a member of the House, shut down the Federal Government from October 1st through the 16th.  Government operations resumed on October 17, 2013.  800,000 government employees were indefinitely furloughed.  1.3 million other government employees were required to report for work without a known payment date.  The Republican led House wanted to defund the Patient Protection and Affordable Care Act.  They attached this to the Government Funding Bill.  The Democratic led Senate removed it from their version of the Bill before they passed it.  The Conference Committee, which consisted of representatives from both Houses of Congress, reached an impasse.  The cost of this shutdown is estimated at $20 billion.  So much for Republican frugalness!

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It should be noted that our understanding of economics has come a long way since 1929 and the Great Depression.  We understand the root causes for the economic waves that bring about these changes and we understand how to deal with them when they occur to lessen or mitigate their effects upon society.  But in order to do this we need both the President and Congress acting together as a cooperating unit.  This we have not had since 2011.

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By 2008 the Real Estate Hedge Fund industry crashed in the United States.  Properties like individual homes dropped almost overnight to a fraction of their inflated values.  Millions of people, who had been encouraged by the financial institutions to use their homes like bank accounts by continually remortgaging them, were suddenly underwater on their loans, owing more on the property than it was then worth.  Employment also phenomenally decreased.  Most banking houses were over-extended and on the point of bankruptcy.  The Bush Administration in its last year in office lent public funds to some of the banks to keep them afloat.

 

In 2009 and 2010 there were both a Democratic President and a Democratic Congress.  The massive depression that would have been greater than that of 1929 was avoided by further public loans to the banking industry.  Patient Protection and Affordable Health Care or Obamacare, which incidentally was based upon a Republican plan, came into existence.  It was passed strictly on a party basis; no Republican voted for it in either House of Congress.  The American auto industry was also saved from bankruptcy by public loans.  Incidentally it should be noted that all these loans were eventually repaid with interest.

 

From 2011 on the Republicans achieved a majority in the House of Representatives.  Thereafter no bill was passed by the House that would lessen what was then the Great Recession.  In fact the bills passed by the House tended to exacerbate the unemployment by not only shrinking the Federal Government but also curtailing the amounts of monies that went to the individual states, forcing them to reduce            some of their programs and lessoning their levels of employment.

 

Mitch McConnell, the then minority leader in the Senate, stated that the Republican goal was to make Barack Obama a one term president.  The Republican attitude from that time on was to support absolutely nothing that President Obama supported.  Economic conditions in the country became secondary next to this goal.  The House Republicans did nothing that might reflect positively upon President Obama.  When he proposed a bill to create jobs by improving the outdated infrastructure of the U.S. the bill never even came to the floor of the House of Representatives for consideration; it was totally ignored.

 

President Obama continued to attempt to work with the Republicans for the next two years with no success.  By 2012, when he ran for a second term, it would seem that he understood that there was no cooperating with the Republicans.

 

President Obama and the Chairman of the Federal Reserve, Ben Bernanke, were able to use Creative Monetary Policy to improve economic conditions in the country.  The Federal Reserve added $85 billion a month for over two years to the National Cash Flow.  They did this by spending $45 billion a month buying up mortgage paper and also by purchasing back $40 billion in government bonds monthly for over two years.  The program was finally reduced by 10 billion a month until it was completely withdrawn.

 

The effect of this action was to buy back millions of pieces of mortgages in all fifty states, each one of which had been split into hundreds of pieces.  In essence these properties belonged to no one, as no one owned over 50% of the mortgages.  Without this action by the Federal Reserve these properties would have been lingering throughout the economy for the next decade or more before they were sold for back property taxes by the local governments.  This act gave the people who had not walked away from their underwater properties and still lived in these homes the ability to continue living in them without the possibility of foreclosure.  There was no way the government could have matched up all the pieces of all the properties in all 50 states to claim ownership of any of them.  Generally the money that would have been used in paying off the loans was spent in the overall economy creating more employment.  It was a giveaway by the Federal Government which was probably more than returned in local, state, and federal taxes.

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With the upcoming Presidential Election the Republicans are blaming President Obama and the Democrats for not doing anything to run the country properly.  They seem to have forgotten the Real Estate Crash of 2008 which took off during the Reagan Administration and continued from there until the 2008 crash.  They seem to have forgotten President George W. Bush’s unnecessary war with Iraq which destabilized the Middle East and began the situation which exists there at present.  Actually they have forgotten everything negative that can be attributed to them.  And all of these things have been blamed upon President Obama and the Democrats.

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The actual Presidential Election should be interesting.  If Donald Trump is elected president he has practically promised to get rid of ISIS quickly and make America Great Again.  He seems to feel that he can solve all major international problems, whether he understands them or not, within the first 100 days or less.

 

If Hillary Clinton is elected and she has a Democratic Congress she can be expected to move successfully in the direction of solving many of America’s domestic and international problems.  If, however, the House of Representatives retains its Republican majority then the country will probably experience the same gridlock it has under President Barack Obama.

The Weiner Component #143 – President Obama & the Republicans

With his family by his side, Barack Obama is s...

With his family by his side, Barack Obama is sworn in as the 44th president of the United States by Chief Justice of the United States John G. Roberts, Jr. in Washington, D.C., Jan. 20, 2009. More than 5,000 men and women in uniform are providing military ceremonial support to the presidential inauguration, a tradition dating back to George Washington’s 1789 inauguration. VIRIN: 090120-F-3961R-919 (Photo credit: Wikipedia)

During the Republican Presidential Debates, which are being held nearly a year before the next Presidential Election, one of the constantly recurring themes that a number of the Republican Presidential candidates continually bring up is that the current President, Barack Obama, is a failed president, not capable of running the country.  Of course if he’s that bad one would expect a movement to impeach him.  But I haven’t heard of that happening.  So what we have is an interpretation by the prospective Republican candidates who of late have tied Hillary Rodham Clinton to President Obama as a failed Secretary of State.  I suppose the more they denounce him the greater they feel they themselves are.

 

Also after denouncing President Obama and Clinton the Republican candidates announce generally what they will do, the results from their handling of specific problems.  How they will solve military issues by sending in American troops, create a no-fly zone over Syria, create increased employment by getting rid of the Environmental Protection Agency (EPA).  But more pollution will not necessarily produce more jobs.  It will successfully, however, shorten a number of lives.  It must be wonderful to be that sure of oneself.

 

In essence most of the potential candidates are blowing in the wind!  Most, if not all, that they say they will do requires either an act of Congress or an Amendment to the Constitution.  According to what Donald Trump says as to what he will do would need a new document of government to drastically increase the powers of the president and limit Congress’ powers.  In the case of Carley Fiona I keep remembering that after she became CEO of Hewlett Packard the stock dropped to half its original value and she argued that she was a positive force even though she lied to her employees to get them to reduce their wages and thus reduce company costs.  She left the company or was fired by the Board of Directors not too long after with a buy-out package worth about 15 million dollars.  She has also lied or fabricated in her public announcements as a Presidential candidate.  Ted Cruz, it seems to me from much of what he has said, would like to become leader or fuhrer of the United States rather than just President.  He seems to have some of the elements of the late Senator Joseph McCarthy.

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I have often wondered what would have happened if in 2008 Senator John McCain had become President of the United States.  First off, he would have inherited a full-fledged Great Recession or potential Great Depression from former President, George W. Bush.  While Bush had temporarily initially bailed out many of the banks at the end of his presidency the question that arises is would McCain have continued the process?  According to the current Republican Presidential candidates no business is too big to fail.  The indication is that McCain would probably not have bailed out the banks.  The result would have been that the major banks in the United States would have gone under.  The movement of money through the economy would have slowed to a trickle and the country would have gone into a major depression that would make the Great Depression of 1929, which did not end until 1939 with the outbreak of World War II, look like a mild recession.  We would still today be feeling its strong negative effects.

 

In addition since the FDIC (Federal Deposit Insurance Corporation) insured every bank account up to a half million dollars the Federal Government would have had to pay out all the accounts of the bankrupt banks or take over and continue to operate those banks.  Either solution would have disrupted the dollar internationally and brought about major depressions in all the major industrial nations.

 

Unemployment in most if not all of these nations would have dropped to over 75%.  It was only 50% at the depth of the Great Depression.

 

In addition there would have been no bail out of the automobile industry and all the American car producing companies would have gone under in the U.S.  Mitt Romney distinctly made the point in 2012 when he ran for the Presidency, as the Republican candidate, that the auto companies should have been allowed to have gone through bankruptcy.  His point there is that in a bankruptcy the court generally declares the stock worthless.  The judge uses the value of the stock to pay off the company’s debt.  The same management that initially made the decisions that caused the bankruptcy stays in control of the company.

 

Way to go Mitt!  Your group stays in control of the company and the stockholders who trusted your leadership all get screwed.  It sounds very much like what Donald Trump did with his casinos in New Jersey.

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Barak Obama, in 2008, ran for President on a platform of change.  And it was indeed time for a change after the disasters brought about by the George Bush Jr. administration.  Presumably Bush had declared war against Iraq because they had secreted away weapons of mass destruction.  Actually he had the military invade the country because its leader, Saddam Hussein, had attempted to have his father, former President Bush Sr., assassinated and he was also acting as Sheriff of the Middle East, bringing American Democracy to Iraq.  The CIA was amazed when they heard his reasons for the act.  The United Nations, at the time, was legally searching Iraq for weapons of mass destruction.  Bush ended that with the U.S. invasion.

 

President Obama inherited a country ready to slip into total disaster.  Employment was rapidly dropping.  Property values were falling like a major landslide.  While he had been elected to bring about change his immediate problem was literally keeping the society functional.  He had to return to normality before he could inaugurate any real changes.  The fact that he also inaugurated Universal Health Care at this time is a demonstration of his level of competence.

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In periods of economic recession the government has two major weapons to fight the economic down-flow.  One is Monetary Policy which is controlled by the Federal Reserve (FED).  Here the FED can increase the amount and movement of currency in the general society by lowering the interest rates it charges banks.  This, in turn, forces the banks to lower their interest rates on the monies they lend out.  The effect of this is to loosen up the flow of currency through the economy, making the cost of borrowing cheaper, and thus encouraging growth or economic expansion.  Will this always happen?  The answer is generally; there are occasionally other variables which can hinder growth.

 

Under normal conditions there will be economic expansion and the GDP (Gross Domestic Product) would increase helping to end or counter-act the recession.  Going along with this is an increase in employment.

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The FED, which has twelve distinct branches throughout the fifty states, constantly monitors the entire economy.  It’s as though it has a thermometer throughout the nation and can interpret what’s happening in every part of the country.  Its main function is to keep the economy as healthy as possible.

 

Another tool the FED has is its control of how much money banks can led out.  This amount can be raised or lowered.  Every commercial bank or credit union has to keep a small percentage of every loan it makes.  The average is about 5% of all the monies it lends out.  For every $100.00 the bank lends out it has to keep $5.00 in cash.  If that is deposited in the bank then it has to keep 5% of that and so on until it has a $100.00 in cash.  By that time the bank has lent out $1,000.  If this amount is raised by the FED to 10% it then lowers the amount that can be lent out by 50%.  If it is lowered to 2 ½ % it increases the amount to $2,000.00 for every hundred dollars deposited into the bank.

 

The FED also controls the money flow in the U.S. by using the National Debt as a tool, buying and selling government bonds.  When the FED buys back government bonds and does not issue as much in new bonds it can increase the amount of money in circulation.  Doing the reverse of this decreases the amount of money available.  It can also, as it did after 2011, just issue currency to the National Cash Flow.  All this would be done with the concurrence of the President.  During Jimmy Carter’s four year administration he had the FED reverse its policy because of its adverse effect upon a segment of the population.

 

All of these are powerful tools for regulating the economy.  But in some instances they are not enough to bring about the needed positive change.  Such an instance was the 2008 Real Estate Crash.  At that time what was also needed was the other major Federal Government weapon that could help regulate the economy and that was Fiscal Policy.  Fiscal Policy would be one or more laws authorizing government spending passed by Congress and signed by the President.

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From 2009 through 2010, during President Obama’s first two years in office, he worked upon limiting the effects of the Great Recession.  This was done through an intensive use of fiscal policy with a Democratic Congress, continuing the bank bailouts and also bailing out the American automobile industry, among numerous other things.  During this period the Affordable Health Care Bill was passed.  This was the major visible change; the others, keeping the economy from crashing, were mainly invisible.  To many people who voted for him in 2008, the changes he had promised did not come about.

 

In the year 2010 the Midterm Election was held.  A large number of people who had supported President Obama in the Election of 2008 apparently were disgusted with him for not bringing about enough visible change in the society and stayed at home, not voting in the election; this resulted in the Republicans gaining control of the House of Representatives.

 

2010 was a census year in which the population of the country was counted so that the seats in the House of Representatives which are fixed in number could be properly reapportioned.  That year Republicans also won control of a number of states.  Those states and other Republican controlled states were then gerrymandered with new Voting Districts that would give Republicans an advantage in the future elections.

 

The new House of Representatives met as a caucus and took an oath not to cooperate with President Obama in anything.  The former minority Party in the House of Representatives, where the Democrats had had a majority, had taken the same oath two years earlier.  The Republicans had wanted to make him a one term president.  The new House of Representatives would not pass any Fiscal Policy laws.  When presented with a plan by President Obama they totally ignored his recommendations.  In fact they all opposed Obamacare and swore to rescind the Affordable Health Care law and passed such bills over 50 times from 2011 to 2014.  All these bills were ignored by the Senate.

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Because of the nature of what President Obama and his administration were doing there was very little publicity given to most of the changes they were bringing about, keeping the country from falling into a major depression and slowly bringing about recovery from the Housing Crash.  Visibly the President and the Democratic Congress seemed to be doing very little.  The one thing that emerged from that two year period was the Affordable Health Care Law, which was loudly denounced by the Republicans and passed strictly on a political party basis.  All Republicans voting against it and all Democrats, who had the majority in both Houses, voting for it.

 

As a note of irony the Affordable Health Care Bill (Obamacare) was modeled upon a Republican plan developed by a Republican Think Tank and originally applied in the state of Massachusetts by its then governor, Mitt Romney.  The plan, rather than have a single insurer, the Federal Government, relied on private enterprise, the many insurance companies across the country, in order to be put into operation.  It was a means of increasing the amount of business that the insurance companies did with some patient protective limitations.

 

To get Republican support on this bill President Obama and the Democrats had bent backwards to give the Republicans something they could easily support.  The Republicans have continued up until the present to oppose and denounce this law.  Ted Cruz has sworn to end this program when he becomes President.  The term Obamacare was originally stated as a put-down.

 

With the 2011 Midterm Election the Republicans were able to achieve a majority in the House of Representatives.  The voter turnout was very low.  A number of people who had voted for Obama in 2008, particularly among the Hispanics stayed at home and didn’t bother voting.  Thereafter virtually nothing President Obama supported was passed in the House of Representatives.

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One of the major problems within the United States has to do with its infrastructure.  The National Highway System was built in the 1950s during the Eisenhower administration.  Most of the ports are too small to allow the new giant container ships to use them.  Many if not most of the bridges built in the U.S. were done in the early part of the 20th Century if not earlier.  The majority of airports are inadequate in dealing with all the air traffic.  The electric grid throughout the United States is totally dated and in winter parts of it have stopped functioning by freezing up and parts of the country has lost electric power.  Most of the utility companies don’t have the resources to fix this problem, leaving it to the Federal Government.  These are just some of the infrastructure problems, there are many more.  Ultimately most of these come down to the Federal Government as the only source that has the resources to really upgrade the nation.

 

Most of these repairs would in a relatively short period of time pay for themselves by increasing the GDP and significantly increase the tax base on all levels of government.  With one exception, and that is renewing a functioning plan that already existed, both the House and the Senate have ignored these problems.  Ultimately a total upgrade would cost trillions of dollars.  And at some point it will have to be begun and ultimately done.

 

President Obama presented Congress with a detailed plan that would at the same time have begun work on the infrastructure and ended all the effects of the 2008 Real Estate Crash by totally ending unemployment in the country.  The plan would have reduced unemployment to about 2% which is the rate of people changing jobs.

 

The House of Representatives totally ignored the plan and did not even consider it.  To them spending government money they didn’t have to would be anathema; their basic problem was that they could only understand the present which meant that they would be spending additional funds.  The fact that the nation would get that money back with interest in the next decade or so was out of their realm of comprehension.

 

In fact what the Republicans have done in passing legislation in the House of Representatives and in the Senate has been to increase unemployment in the United States.  Using economy or reduced government spending as their excuse they have forced through bills that significantly reduce government spending.  Their final and most important cut was Sequestration which was passed when they could get no agreement with the Democrats in Congress to cut anything else.  This law automatically cuts by a specific percentage every year from just about every program unless a law is pass to stop a section of it from happening.

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The President requires the “advice and consent” of the Senate on most of his appointments of officials to government jobs; particularly supervisory positions such as judges, heads of government departments, etc.  There are more open judgeships now or unappointed heads of departments that at any other time in the history of the United States.

 

An individual that comes to mind is someone that both the Democrats and Republicans approve of whose expertise deals with a phase of banking wherein he can trace the movement of currency through terrorist organizations like ISIS and interrupt that movement.  The current Senate, that has a slight Republican majority, has refused to bring his name up for a vote.  Apparently they don’t want President Obama to have any successes regardless of the cost to the country.

 

However, even though the media just mentioned a small number of these incidents, U.S. explosive drones have killed most of al-Qaeda leaders as was Osama bin Laden in a military raid in Pakistan. They are no longer the military terrorist force they were when they blew up the Twin Towers during the Bush Republican administration.

 

President Obama has just signed a 1.15 billion dollar compromise with the Republican Congress that will keep the Federal Government going and achieve a number of Democratic programs.  It was a compromise bill and will also achieve a number of Republican goals.

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If we examine the achievements of the last dozen or so Presidents, Barak Obama emerges as one of our top leaders.  This is amazing in the respect that for the last five of his eight years in office Congress has consistently worked to keep him from achieving anything.  He emerges as a man among men who has achieved much regardless of the limitations continually set for him by the Republicans in Congress.

 

During most of his administration he has bent backwards to get the cooperation of the Republicans in Congress.  It hasn’t happened.  I suspect that by this time he had had it and will only accept positive results from Congress as he did with the 1.15 trillion dollar budget compromise.

 

In this bill the Republicans have added significantly to the National Debt, a principle they supposedly oppose.  They spent almost as much in 2014 with their last minute bill then to finance the Federal Government through 2015.  They achieved a number of their objectives but they did not defund Planned Parenthood or keep Syrians from immigrating to the United States.  They did however keep Planned Parenthood from getting an increase in funding from the government.

 

Personally I am glad that Barak Obama is President of the United States.  I would hate to think of what might have happened if John McCain or Mitt Romney had won.  President Obama has carried the United States through a very difficult time in our history.