Left In Lowell

OK, I’m Convinced - Santorum Is…Right

5 Responses to “OK, I’m Convinced - Santorum Is…Right”

1. waittilnextyr Says:
   February 23rd, 2006 at 11:06 am

   This whole deal is only the tip of a much larger iceberg, which is unfortunately being ignored in the discussion.

   The real problem is that we as a country continue to consume more than we produce. In each year of the Bush presidency we have set new records in the trade deficit, the past 3 years increasing from a record $496B, and then to $616b and then $726B. That trade imbalance translates to an account deficit that must be balanced somehow. Foreigners will only purchase some much of our debt instruments (bonds) before they realize our devaluation of currency is making that a bad investment, so they switch to hard assets. Already our local electric utility is foreign-owned, and our gas utility is about to be gobbled up by a UK company. Our port management contract is already foreign-owned, and this latest sale of the operation raises the stakes because of the points you have made. Now we are getting to the point that our most trusted foreigners cannot afford our lifestyles, so we are selling out to the highest bidder. Last year our oil interest were almost gobbled up by a state-run Chinese operation.

   Our national politicians do not have the courage to turn this around, because it would not be easy for those of us who elect them, or worse those who lobby them. They could raise the tax on gasoline to dampen the demand, but they would rather the oil companies get that profit and take the rap. They could convert the home mortgage tax deduction to a limited tax credit (say 25% of annual interest paid up to a maximum credit of $5000), so that the middle income people would get the same dollar tax break as the multi-millionaire. But that may squelch the million dollar homes being subsidized by the masses. And, most controversially, they could convert the tax system from one that taxes work and savings to one that taxes use and consumption.

2. No one you know Says:
   February 23rd, 2006 at 11:54 am

   Something NPR pointed out that I haven’t heard or read in other media yet is that the
   Dubai company already owns CSX, for those of you who don’t know, that is a major rail
   transportation comapny in the U-S and there was no uproar when the Dubai company purchased
   that corporation.

   I think the debate is because Bush blindsided his GOP team in congress.

   I think beyond the review that was not conducted according to law we should be looking at
   the generational ties between the Bushies and the folks in that part of the world who control
   things!

3. Mimi Says:
   February 23rd, 2006 at 1:06 pm

   It is extremely disturbing of how much of this debate is being fueled by an anti-Arab and anti-Muslim prejudice and not about the economic impact, influence and cronyism, or foreign control.

   The facts as presented out there regarding the connection between the 9/11 hijacker and Dubai are incorrect.

   First Dubai and the United Arab Emirates are not the same entity. Dubai is only one of the 7 “provinces” of the U.A.E. Each emirate has its own leadership.

   The 9/11 hibjacker who came from the U.A.E. came from Ras al-Khaimah, not Dubai. The second hijacker who supposedly came from the U.A.E. was a Saudi; he lived in the same region of Saudi Arabia as most of the other hijackers.

   Our lazy, mainstream media does a horrible job of presenting the Arab world (300 million people) and the Muslim world (1.4 billion) to us.

   They are just as complex, diverse and layered as their Western and Christian counterparts.

4. Lynne Says:
   February 23rd, 2006 at 1:53 pm

   waittilnextyear: that’s definitely huge. I wanted to talk about our trade deficit and how it affects us - foreigners will begin to snatch up actual assets, and have been, to finance our lifestyles. Nicely put, thanks.

   Mimi: thanks for the correction, an important point. Though I still think any foreign-owned national resource such as a port should have higher standards, especially when that resource is sold, in effect, to another country (as the company in question is state-owned). And there’s supposed to be a process for such a situation, which the committee circumvented entirely.

   I also really object to the apparent conflict of interest between Bush admin officials and this sale. But then, everything this administration does is compromised in that way…

5. Mimi Says:
   February 23rd, 2006 at 5:38 pm

   By the way, Lynne, Santorium…right. Yes, he is right. Far, far, far, right.

   Buch deserves everything he is getting on this. He and his administation are the ones who muddied the waters. To justify the Iraq War, they attempted to create links where none existed.

   I am going to sit back and enjoy this Republican internecine battle.

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