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‘Liar, Liar, Pants On Fire’: Maddow Covers The ‘Really Crazy’ GOP MIT Tax Lie

Last night, MSNBC’s Rachel Maddow and Eugene Robinson discussed the “really crazy” lie that GOP leaders like Rep. John Boehner (R-OH) and Sen. Mitch McConnell (R-KY) have been spreading that an MIT study says cap-and-trade legislation is a $3100 tax. “‘It’s just wrong. It’s wrong in so many ways, it’s hard to begin,’” Maddow quoted MIT economist John Reilly. “That is MIT-economist-speak for, ‘Liar, liar, pants on fire.’” After she noted that Rep. Michelle Bachmann (R-MN) repeated the lie in a Minnesota Star Tribune editorial, the Washington Post’s Eugene Robinson weighed in:

That’s just making stuff up. That $3,128 figure does not appear in the report. It’s not there. It is arrived at by taking an irrelevant number and dividing it by another irrelevant number and coming up with a number that means nothing. The actual calculation would be more like $340, although that wouldn’t show up on your electric bill, it would include all sorts of other costs that you wouldn’t necessarily see as energy costs, but they would be in there. But that’s a factor almost of ten. They just made it up. It’s really crazy.

Watch it:

In reality, the MIT report actually finds that clean energy policy that includes a fair cap-and-trade system would save us from our pollution-fueled path of job destruction, plummeting wages, skyrocketing energy prices, and catastrophic climate disasters.

One might surmise that’s why Republicans have to lie about the numbers.

Update

Eugene Robinson also went after his fellow Washington Post columnist, George Will, saying that he thought his global warming distortions crossed the line.

Politics

Caller to C-SPAN: ‘Why do you keep bringing these neocons on?’

This morning, C-SPAN’s Washington Journal hosted the National Review’s Rich Lowry, a conservative media figure who openly supported and advocated the invasion of Iraq and the subsequent “surge.” During the segment, a woman from Tampa called in to criticize the host and C-SPAN for continuing to host neoconservatives despite the fact that their ideas have “failed.” She likened Lowry to an inadequate car mechanic a customer keeps returning to:

CALLER: I would like to know why, if you had a car, ma’am, and it broke down and you took it to your dealer and it kept breaking down, and breaking down. Wouldn’t you change dealers? Why do you keep bringing these neocons on? [...] This failed! …And you keep on bringing on failed policy. [...] I would like you to tell me why we are still using this car dealer who has failed America.

While the host did not answer to the caller’s question, moments later, Lowry offered his support for giving an “or else” ultimatum to the Iranians on talks regarding its nuclear program. Watch it:

The caller’s criticism has a ring of truth. A 2007 Center for Economic and Policy Research study found that C-SPAN “overwhelmingly favor[ed] conservative think tanks in its coverage by a three-to-one margin over all left-of-center think tanks.” Indeed, MSNBC host Rachel Maddow recently asked of the neocons, “Why is it that people who are catastrophically wrong about big important things like foreign policy and war never, like, flunk out of that as a subject?”

Transcript: Read more

Culture

Culture in the Balance: Commercial or Non-Commercial

Via Julian Sanchez, a neat video mashup of different dance scenes from different Walt Disney animated films, that shows the reuse and recycling of certain motion patterns and tropes. Check it out:

I watched that video and got a few minutes of amusement from it. And so far thousands of other people seem to have done so as well. And with the video bouncing around on some blogs, that number ought to keep rising. So the world has, in a small way, been made a better place by the fact that modern digital technology makes it feasible for a hobbyist to create this even though there’s no real prospect of monetary reward.

And yet in the name of halting “piracy” there are those who would so tighten intellectual property rules as to make it impossible for these kinds of creative works to be made. That would boost the financial incentives for for-profit corporations to produce high levels of cultural content, but it would also raise substantial barriers to the creation of amateur, hobbyist, or not-for-profit content creation. That’s worth keeping in mind whenever you hear debates about intellectual property issues. Strong IP is usually branded as “good” for “creators” but the main impact of the digital revolution has been to advantage non-commercial producers relative to commercial producers, and the main impact of strong IP law is to shift the balance of power back to the commercial world. We’re accustomed to thinking of capitalism in opposition to socialism, state-direction production, but in the information realm the main opposition is between capitalism and activity that is simply non-commercial in nature.

Politics

Perino: ‘Where Is The Proof’ That Bush ‘Alienated’ People Around The World?

In an interview with CNN earlier this week, Vice President Biden responded to former Vice President Cheney’s criticism that the Obama administration has made America less safe by saying that “the last administration left us in a weaker posture than we’ve been in any time since World War II.” Biden added that when Bush left office, America was “less regarded” and garnered “virtually no respect in entire parts of the world.”

Former Bush Press Secretary Dana Perino responded to Biden on Fox News’ The O’Reilly Factor last night, claiming it was “absolutely not” true. “I actually think that we are respected in the world,” said Perino.

Asked by O’Reilly if it was “a valid point” that the Bush administration “alienated” allies with “its swaggering” at a time that “we need cooperation to defeat terrorists,” Perino replied, “Where is the proof of that?”:

O’REILLY: But they feel — the Obama administration says look, we need cooperation to defeat terrorists. And we weren’t getting it because the Bush administration alienated so many people by its swaggering and its cowboy and the Dick Cheney stuff . Isn’t that a valid point ?

PERINO: Where is the proof of that?

O’REILLY: There isn’t any proof. It’s total speculation.

PERINO: Right.

Perino then asserted that the Bush administration “had allies all over the world helping us,” so Biden is either “not being honest about the briefs that he has gotten, or he just doesn’t know.” Watch it:

In fact, there is no doubt that the Bush administration lowered America’s standing in the eyes of much of the world. In December 2008, the Pew Global Attitudes Project released a report showing that “the U.S. image abroad is suffering almost everywhere“:

Opposition to key elements of American foreign policy is widespread in Western Europe, and positive views of the U.S. have declined steeply among many of America’s longtime European allies. In Muslim nations, the wars in Afghanistan and particularly Iraq have driven negative ratings nearly off the charts. The United States earns positive ratings in several Asian and Latin American nations, but usually by declining margins.

The problems created by Bush’s “swaggering” were evident in Europe last week when President Obama convinced NATO allies to send roughly 5,000 more soldiers to Afghanistan. One analyst noted that while the troop increase was modest, Obama was able to secure “a lot more than Bush could have gotten.”

Transcript: Read more

Yglesias

The Declining Unpopularity of Socialism

Steve Benen observes that one problem with attacking Barack Obama as a “socialist” is that opposition to socialism isn’t as popular as it used to be:

246272140_3a2e8470c5.jpg

Only 53% of American adults believe capitalism is better than socialism. The latest Rasmussen Reports national telephone survey found that 20% disagree and say socialism is better. Twenty-seven percent (27%) are not sure which is better. Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided.

The generational change here is interesting. I think it reflects the fact that on a basic level “socialism” is good branding. The whole idea is that we should put society first rather than capital, or money. That sounds good! But in the United States we never had a Socialist Party so “socialism” was primarily associated with the Union of Soviet Socialist Republics which was not at all good. But to people under 30, there’s less of that old resonance. And saying that Obama, who’s popular, is a “socialist” may simply tend to make people have warmer feelings toward the word “socialism.”

Politics

Holder: Cheney is ‘way off the mark’ to say Obama has made the U.S. less safe.

Last month, Vice President Cheney claimed that President Obama is “making some choices that…raise the risk to the American people of another attack,” referring to Obama’s decisions to close Guantanamo and end torture. Yesterday, Attorney General Eric Holder responded to Cheney, telling CBS’s Katie Couric that Cheney’s comments were “totally false”:

HOLDER: Well, I think that’s totally false. It’s inconsistent with the facts. … All the things that we’re doing are designed to enhance the safety of the American people. And closing Guantanamo is, in fact, one of those things. It takes away from people who are our enemies. A recruiting tool. It actually makes our relationships with our allies a lot less complicated. If you look at what the president is doing, what this administration is doing in Afghanistan, what we’re doing with regard to Guantanamo, I think the former vice president’s remarks are are way off the mark.

Watch it:

Vice President Biden also said this week that Cheney is “dead wrong,” noting that the “last administration left us in a weaker posture than we’ve been any time since World War II.” Senior Obama adviser David Axelrod said on Sunday that Cheney has not been acting like a “statesman.”

Economy

Fed Official: ‘We Do Not Have To Wait For New Authority’ To Take Over Failing Financial Institutions

hoenig.jpgAccording to the Obama administration, one of the problems in addressing the economic crisis is that no mechanism exists for taking over large, complex financial institutions. The administration has actually crafted a plan that would grant the Treasury Secretary such power, which it may present to Congress.

Today, Kansas City Fed President Thomas Hoenig said that new legislation is all well and good, but in the case of at least some big firms, that power already exists:

There has been much talk lately about a new resolution process for systemically important firms that Congress could enact, and I would encourage this be implemented as quickly as possible, but we do not have to wait for new authority. We can act immediately, using essentially the same steps we used for Continental.

It’s unclear to which firms Hoenig thinks this authority is applicable. Since AIG is still, technically, an insurance company, it would seem to fall outside the sphere of any existing power that Treasury has. But maybe the administration really doesn’t need some new mechanism to take over a Citigroup or a Bank of America.

This brings us back to the IndyMac example. IndyMac was successfully re-privatized last month, after it had been taken over and cleaned up by the Federal Deposit Insurance Corp. (FDIC). For his part, Hoenig alluded to a similar situation at Continental Illinois, which was taken over by the FDIC in 1984. This week, Elizabeth Warren’s Congressional Oversight Panel also presented Continental as an example for the administration to study:

Another option is government reorganization of troubled financial institutions using conservatorships, as in the case of Continental Illinois in the U.S. and the financial crisis in Sweden in the 1990s. This approach entails an in-place reorganization in which bad assets are removed, failed managers are replaced, and parts of the business are spun off.

In the end, it’s probably best that Congress formally structure some new authority for unwinding large, financial institutions, instead of Treasury relying on the exact same system used for IndyMac and Continental. After all, those were just banks, not globally entwined financial behemoths, and they were only cleaned up, not broken into smaller entities. But the underlying premise remains — the federal government, in one way or another, needs to find a way to unwind the firms that are “too large to fail” and too weak to succeed.

Yglesias

Wells Fargo Posts Record Profit

wellsfargo_1.jpg

When you hear about something like Wells Fargo posting record profits, I think you should resist the temptation to do what I saw some TV anchors doing this morning and start wondering if banks are in better shape than you thought. Banks are in terrible shape, and as a result of that the government is taking drastic steps to help banks out. And it’s because of those drastic steps that the banks are posting operating profits.

The main driver of the profits is that the interest rates banks need to pay is now extraordinarily low. That makes banks’ basic operations more profitable. These profits are further bolstered by the fact that banks are not, at the moment, being forced to fully account for lost investment income. And on top of that, banks are able to operate without being properly capitalized because they’ve all gotten increasingly explicit government guarantees. It would be a bit as if the government decided to save GM by just agreeing to purchase cars as fast as GM can make ‘em.

Which isn’t to say that these policies are a bad idea. It’s just to observe that the profits are less a sign of recovery than they are a sign of how much policy activism we’re witnessing.

Politics

Right-wing group tries to ‘connect the dots’ between ‘gay marriage and mass murders.’

moralitymedia.gif In recent days, there has been no shortage of fear-mongering about same-sex marriage. Right-wing groups have said that marriage equality removes the “cornerstone of society” and may “destroy…democracy.” Morality in Media President Bob Peters goes even further today, linking same-sex marriage to the recent tragic uptick in mass murders:

This secular value system is also reflected in the ‘sexual revolution,’ which is the driving force behind the push for ‘gay marriage;’ and the Iowa Supreme Court decision is another indication that despite all the damage this revolution has caused to children, adults, family life and society (think abortion, divorce, pornography, rape, sexual abuse of children, sexually transmitted diseases, trafficking in women and children, unwed teen mothers and more), it continues to advance relentlessly.

It most certainly is not my intention to blame the epidemic of mass murders on the gay rights movement! It is my intention to point out that the success of the sexual revolution is inversely proportional to the decline in morality; and it is the decline of morality (and the faith that so often under girds it) that is the underlying cause of our modern day epidemic of mass murders.

Warren Throckmorton writes that using the “awful situation in [Binghamton] New York to bash gays takes it to a new level of immorality in media.” David Corn has more here on Peters. (HT: Box Turtle Bulletin)

Climate Progress

Semi-exclusive: Science Adviser Holdren stands by his long-standing critique of geoengineering

Seth Borenstein of the AP caused a volcanic eruption yesterday with his interview of science adviser John Holdren, “Obama looking at cooling air to fight warming.”  Too bad the story isn’t quite accurate, as Holdren confirmed in an e-mail to me today and a separate email to others (that the NYT‘s Revkin published here).

Geoengineering is “the intentional large scale manipulation of the global environment” to counteract the effects of global warming or “emergency interventions to cool the atmosphere should less drastic measures fail.”  It is a last resort at best (see “Geo-engineering remains a bad idea”” and “Geo-Engineering is NOT the Answer“).

Rather than  focusing on what Holdren doesn’t believe, let’s focus on what he does.  I asked him a simple question.  Does he stand by what he published 3 years ago, which I often quote:

The ‘geo-engineering’ approaches considered so far appear to be afflicted with some combination of high costs, low leverage, and a high likelihood of serious side effects.

He wrote back, “I said exactly that to Seth Borenstein.” In his earlier email, Holdren wrote bluntly:

Read more

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