The Everyman Economist

What is it with politicians? I know they’re human, just like the Everyman, but I thought we elected these folks for their judgment and wisdom. It’s not the sexual meanderings that bothers me. What they do in private, should stay in private. But the total hypocrisy of these guys is pitiful. The Spitzers of the world crusade for justice, all the while frequenting the same madams and prostitutes they’re arresting. The Sanfords of the world preach family values, all the while breaking marriage vows and skipping out on their kids. And we have to ask “should they resign?” Of course they should resign! We did not elect these people to be our role models, but we certainly didn’t vote for them to be our hypocrites either. If a politician wants to visit a prostitute, fine. But he better not be banging down the door of every brothel in New York, looking for criminals. Because when someone bangs down his door, he’s the next criminal they’ll find. If a politician wants to visit his gal pal in Buenos Aires, fine. But he better not be preaching about the sanctity of marriage and family responsibilities. Need I say more?          

The Everyman has been stirred up by the usual naysayers who are pointing the finger at the new Obama proposed budget. “Look at those 8,000 earmarks,” they’re saying. “What a travesty,” they’re saying. But here’s the truth. Earmarks are the only real expenditures in the budget that have a legitimate right to be there. “How can I make such a claim?” you ask. Let’s see.

There are 435 Representatives of the Everyman in the House and 100 Senators in the Senate. These politicians all represent only one constituency - us - that’s you and me. We elected these guys and we expect them to do our bidding in the sacred chambers so we get bang for our bucks. If we need a traffic light on the corner where we’ve seen kids get hit by speeding automobiles, we expect these politicos to get it for us. If we need a highway to help move traffic in our neighborhoods away from the busy streets, we expect these politicos to get it for us. If we need scientific research to help us learn about a disease that’s ravaging our families, we expect these politicos to get it for us. And yes, if we need a study to determine the effects of sewage on our local wildlife, we need these politicos to get that for us too. In short, the reason why these guys are all in Washington in the first place is to make sure that our local interests at the community, city and state levels are all looked after. And that’s why we have earmarks. Some may call them “pet projects” but I prefer to call them “necessities.” Now, among these earmarks you will find some that may not suit your appetite or interest, but without all the facts, you can’t possibly know why they’re there. And what’s more, it doesn’t matter because they have always been there and will always be there so we can all get what we pay for.

This may not all sound very appealing to Everyman, but you can be sure that without earmarks, the federal government will be spending our money on only those things that THEY think are best. Earmarks are a  miniscule piece of the budget and they help ALL of us have our voices heard. The politicos of both parties spend too much time demonizing what WE believe is necessary and riling up the Everyman for purely political purposes. Tell them all to Shut It! Get us our traffic lights first and then we can worry about some guy’s bonus at AIG. 

The Everyman’s head is spinning. He’s angry all over again and he can’t believe what’s he’s reading in the press and hearing from the talking heads about AIG, Citibank, Bank of America, Merrill Lynch, bonuses, toxic assets, earmarks and tons more. Everyman’s looking for a scapegoat. Someone needs to pay for this mess, right? One day it’s the overpriced traders and their obscene bonuses who are to blame and the next day it’s those overpriced senior executives and their obscene mansions in New York, New Jersey and Connecticut. But this blame game has to STOP. When historians look back at these times, it’s not the details that will matter the most, it’s the big picture and how we got here. And the overwhelming reason for our turmoil is one thing - lack of regulation. We became so complacent in our abilities to produce meaningful financial products that would serve all parties simultaneously, that we forgot the essential component of all good plans - the rules. We allowed Everyone, the Everyman included, to reap the benefits, but we threw caution to the wind and it all ran amok. Is it any wonder that the SEC was contacted many times over a period of many years about Bernie Madoff and his fraudulent activities, only to turn a blind eye. If the SEC wasn’t watching the chicken coop, then Everyone was asleep at the switch.

So what do we do now? First, let’s stop the finger pointing. Nobody is going to get it ALL right. Mistakes will be made and people will be human. It makes no sense to make ourselves feel good by making someone else a culprit. Instead, we need to demand of our leaders that we NEVER have this happen again. We must have prudent safeguards in place that will regulate the financial environment and prevent a meltdown. In the 1930s, Congress passed the Glass-Stiegel Act, which went a long way in helping us sort out the mess of that decade. Some say that when Glass-Stiegel was repealed in 1995, it was the beginning of our current problems and that may be true. But true or not, we need today’s form of Glass-Stiegel to pave the way to a healthier economic environment.

If the Everyman is going to vent his anger, it’s time to yell at the politicians and let them know that we need to bring rules back to the game. Only regulation will help create the proper solutions as we move forward. So forget about the anti-regulators - they’ve had their day and look where we are now!     

The Everyman has reason to be hopeful. There is light at the end of the tunnel, even if few are predicting good times ahead. What stands in the way at the moment, however, is the Party of NO. These are the political obstructionists who believe that it’s better to resist than to act. It’s better to stick to your dogma than to wake up and hear the voices of millions of Everymen screaming for change. Having gotten us into this mess, the Party of NO is now trying to tell us that the new administration is reckless and irresponsible. Talk about the pot calling the kettle black. Fortunately, in spite of these naysayers, bold actions are being taken to get us out of the worst economic crisis since the Great Depression. Is it all good? Of course not! But there is always a percentage of pork in every piece of major legislation. It’s been the American way for 200 years and it’s not about to stop now. So you hold your nose, you vote for the big picture and you let some stinkers have their pet projects. If that’s what it costs to get the job done, you don’t throw the baby out with the bath water. But that’s not okay with the Party of NO. They would rather pursue the same policies of the last 8 years than get on board with the American people. And that’s why it’s time to Just Say NO to the Party of NO!

Who won the popular vote in 2000 over George W. Bush? Al Gore. Who won the 2007 Nobel Peace Prize? Al Gore. Who won a best documentary Oscar in 2008 for “An Inconvenient Truth.” Al Gore. Who is currently the most popular Democrat in America and the most repected American politician throughout the world? Al Gore. And who can beat John McCain in November to become the next President of the United States? Yes, Al Gore.

Let Obama and Clinton continue their slugfest and guarantee that neither will pull enough delegates on the first ballot to win the nomination. Then do the best thing for the Democrat party and the 2008 Presidential election and nominate Al Gore on the second ballot as the party’s favorite son. Al will bring the party together, make everyone forget the months of in-fighting and start a fresh new campaign. What goes around comes around and it’s time the Everyman got the best person for the job and that’s Al Gore.

This exciting political season is rife with predictions. But the most exciting thing about ”Politics 2008″ is just how wrong the oracles have been. They buried John McCain and Hillary Clinton, only to see them rise from the ashes. They assured us of the outcomes in Iowa and New Hampshire, and the outcomes were not exactly as predicted. And they reacted as if the sky was falling with “100 years in Iraq,” “Phone Calls at 3:00 AM,” “Wright was Wrong,” and “Snipers in Bosnia.” So with all that said, I’d like to jump into the fray.

Like my fellow Everyman, I too see the Democrats working hard to snatch defeat from the jaws of victory. Predictions abound about the destruction of the party and a tumultuous convention. I watch the same TV and read the same articles but I’m not so sure I reach the same conclusion. You see the Everyman electorate is usually focused on the “here and now.” And right now we are awfully far from the real “here and now.” That will take place when only 2 candidates are left standing and the Obama/Clinton feud is behind us. Only then will we know who we want and why we want him or her. In the meantime, however, the Democrat Family Feud may result in a very interesting scenario. At the moment, the big gun among the Democrats is also the quietest and his name is Al Gore. Al hasn’t backed either candidate, although he appears to have closer ties to Obama. But Al lurks in the background. My suspicion is that Al will come out of hiding if one of the two  main candidates becomes the clear victor. If not, Al will be at the convention as a “super-delegate” and he could make an exceptional compromise choice to replace both Barack and Hillary and bring the party together. It’s not a predictable event, but if the chips fall where they may, and the contest does not produce a decisive winner, Al Becomes a very realistic alternative. Wouldn’t that make what’s already a hot political season a real scortcher?        

I’m not big on judging others for their weaknesses or misdeeds. I think we should leave all that to forces bigger than all of us. However, when someone lives a life in the public eye and makes his living by holding Everyman up to close scrutiny, that’s a whole different ballgame. Governor Eliot Spitzer of New York is just such a man. After reigning supreme as Attorney General in New York and sqeezing the life out of every possible misstep by corporations and individuals alike, Governor Spitzer has left himself no margin for error. And when the error is as absurd as his current plight…Spitzer MUST GO! How dare he defile the public trust when all along he built that trust on the backs of anyone who dared cross him and his self-righteousness. Apparently those beliefs did not cross over into his own life, where his judgement and actions are far from righteous. It is a remarkable story to watch unfold, but the end is very simple. Spitzer MUST GO and he MUST GO SOON! The hypocrisy is frightening and we should all feel bamboozled by this smaller than life Everyman.      

Let me preface this entry with the contention that I am neither a Republican nor Democrat and I have no axe to grind. My only political interest is in the ability of our leaders to serve the people. In that regard, I am a loyal Everyman in the Realist party. That’s the party comprised of like-minded Everymen who believe that reality rules over dogma and that life events can cause mind altering change.

Pick an issue - the economy, Iraq, illegal immigration, social security, etc. Now who among us believes that any of these issues remain stagnant and that the opinions we had on any of the above in 2001 are exactly the same in 2008? If YOU do, then the Republican or Democrat parties welcome you as a non-flip-flopper. But if you’re like me, then welcome to the Realist party where the technology boom and the housing bust are different breeds of economic conditions, where WMD now stands for “wild men doomed,” where illegal immigrants are not only our factory workers but our housekeepers as well, and where the social security lock-box is now a Nobel Peace Prize.

In 2004, the Republicans spent oodles of money telling us that John Kerry was a flip-flopper, punishable by political death.  In 2008, you can be sure that they will spend even more money reminding us of Hillary’s failed health care initiatives in 1994. But in 2008 there’s no problem with Mitt the Flip, Huck the Unstuck or Mac the Retract. All of their opinions “changed” and in case you haven’t heard, change is ”IN” this year. Now this is all very fine and dandy, but it’s also a whole lot of nonsense. In the Everyman’s world, things happen and opinions change and if we don’t adapt to the turning tides, we are doomed to be washed out to sea. So let’s start giving our elected brethren the room they need to represent us. If we’re ever going to have a government that is “by the people and for the people” then we need more Everyman leaders in the Realist party. We may like leaders that have the strength of their convictions, but we must also have leaders with enough intelligence to change direction when there’s an oncoming train heading straight for them.