Occupy Wall Street

A few months ago a group began a protest by proposing the occupation of Wall Street.  The basic idea was to gather protesters, set up camp, protest corporate influence and demand some attention for the masses that have been affected by the financial crisis and the lack of government intervention. They campaigned for people to “flood lower Manhattan, set up tents, kitchens, peaceful barricades and occupy Wall Street”.  A popular slogan used in the protest, "We are the 99%," refers to the statistics that only 1% of the U.S. population is “wealthy”. The first protest began on September 17 and the movement quickly spread.  By early October similar protests began in 70 major cities and over 600 communities in the U.S.  This financial meltdown isn’t new news; most would say it began with the Lehman Brothers’ bankruptcy back in 2008.  When Kalle Lasn, a member of the group of the protesters that sparked this movement, was asked why it took three years for people to react to this crisis, Kalle’s response was:

When the financial meltdown happened, there was a feeling that,

"Wow, things are going to change. Obama is going to pass all kinds of laws, and we are going to have a different kind of banking system, and we are going to take these financial fraudsters and bring them to justice." There was a feeling like, "Hey, we just elected a guy who may actually do this." In a way, there wasn't this desperate edge. Among the young people there was a very positive feeling. And then slowly this feeling that he's a bit of a gutless wonder slowly crept in, and now we're despondent again”.

What began as a peaceful protest is growing ugly.  We are now in the 7^th week of the occupation and there have been several problems.  Many arrests have been made.  There are homeless people showing up to these “campsites” to take advantage of the free food and shelter.  Some have been quoted saying they feel safer at these sites than the local shelters.  Some of these people have criminal backgrounds.  There have been arrests and concerns about drug and alcohol use at these sites.  There has been violence.  There is worry for many with the cold winter weather approaching and there is a lot of doubt that these demonstrators are prepared to make it living outside in tents.  In fact, there are many areas where the local ordinances do not allow for tents – including New York - and these people have only tarps to help shield them from the harsh weather.  New York suffers some dangerous freezing temperatures in their winter season.  There is also fear for the safety of the people.  There are health concerns for the folks living in these conditions and one could only assume these risks will rise as the temperature drops.   Some protesters have begun to squabble over money.   There are donations pouring in… but, not full agreement on how the money is spent.

The Occupy Wall Street movement seems sad and misguided.  Many of the protestors that the news portrays in these camps are homeless, jobless, moneyless people in need of help.  This is daily headline news.  Morning, noon, night, television, radio and internet… this movement is getting press!  I just don’t find any reports that show there is any progression on the political issues that sparked this movement.  Neighborhoods are enduring increased expenses to secure these sites.  There is reason to fear for the safety of these individuals.  In the end, I am sad to admit that I don’t believe they are being heard in positive, political manner.  This is headline news because of the elements of fighting, fear and the threat of freezing weather.  These non-political issues are all over the news.  There is nothing in the news on the progress on the political issues that began this movement. The agenda has been lost in the hype.

Critique an Editorial - Perry's Unrealistic Job Numbers

As I was reading this blog, Media Uncritically Repeat Perry's Unrealistic Job Numbers, I found it quite amusing what Republican presidential candidate, Rick Perry, had to say about domestic fossil fuels. Mr. Perry claimed he could create over a million jobs by expanding domestic fossil fuel production. Of course, further scrutiny of this claim found Mr. Perry’s estimate is based almost entirely on highly arguable assumptions, and to be blown out of proportion.  An energy expert on the Council for Foreign Relations, Michael Levi, analyzed the numbers provided in Mr. Perry’s proposal from the API, (American Petroleum Institute). Levi found the numbers to be “unrealistic”.  Seems a little biased that Rick Perry uses numbers from a study that was done by API… the largest gas and oil industry trade group.

I found another article on this topic, from The Atlantic, titled Deconstructing Rick Perry's Energy and Jobs Plan, The conclusion of this article states: “The numbers that Perry and Romney are offering for job creation in the energy sector are unrealistic. Five hundred thousand is a reasonable upper limit for the number of jobs that a new policy might create by 2030, of which 130,000 or so might actually be in oil and gas. Taking into account market dynamics could lower those numbers further.”   It seems that others agree that Perry’s numbers of 1.2 to 1.5 million new jobs is unrealistic.

Another question discussed, “Is Perry right that energy is a ripe field for job creation?” Many economists don’t agree that domestic energy production is a top priority in creating jobs.  But, there is agreement that there is definitely potential in this field.    Economist, Peter Morici, from the University of Maryland, wrote that "shutting down US oil and gas development is costing the US economy millions of jobs."  Morici believes that an emphasis on domestic production could create jobs by dramatically reducing America's trade deficit.  Promotion of energy production would also spill over into job creation in other industries because refineries and pipelines would boost demand for construction, steel and heavy machinery workers.

I don’t agree with Perry because I personally don’t think domestic energy productions are among the top five priorities for job growth. Yes, there could be some potential in this field but not over a million jobs worth. Not to mention nearly half the 1.2 million jobs the Texas governor is promising won't be online before 2016.  And, what about our nations push to find and use alternate energy solutions?  It is projected that we will deplete our petroleum resources by 2043.  America does not want to be dependent on foreign oil to run our country… for many reasons.  And all the research shows that burning these fossil fuels are dangerous and harmful to our environment.  I would rather see more efforts and jobs created in finding and utilizing alternate energy resources.  

Critique Editorial-Feeling Poorer?

When I read the article Feeling Poorer I found it pretty captivating what the author had to say about the decrease of income in higher and lower classes. The author is trying to convince the readers that this economic problem is serious and it’s affecting many people. By trying to convince the readers she uses facts about our decreasing income and increasing poverty rate. She tells us “Those in the lowest fifth of the population saw their income drop 14.2% from 2000 to 2010 if inflation is factored in. But middle, and even upper-middle class, people have suffered as well. Those in the top fifth saw their income drop 5.8%.” The author’s opinion about the government is that the Government spends money in two currencies — U.S. dollars and open-ended promises. I agree with the author here. I don’t think our government is doing a good job by trying to fix our economic problems. The government's primary mission is to protect its citizens, not attack Social Security and Medicare to pay for the mistakes that have been made in the past. The author quotes, "A government whose primary mission increasingly is to tax (and borrow from) the young to fund entitlement programs, largely for seniors, is inviting economic stagnation and endangering its future." The author has a very valid point, I am about to be eighteen and attending college in the fall and my future is going to be a financial struggle as I get older and older. The author does a good job listing facts that would get readers attention. I also found this article very informative and convincing.

President Obama’s Medicare Proposals

President Obama’s Medicare Proposals

 I read a recent article from The New York Times  regarding President Obama’s Medicare proposals.  I found it a little shocking that Mr. Obama is planning to cut $248 billion from Medicare over the next decade.   I believe this will always be a highly sensitive issue due to the simple fact that Medicare affects our senior citizens… elderly people who generally are no longer working, with increased medical needs.   With his proposal, Obama would be raising deductibles and increasing the co-payment.  This will have an immediate financial impact on our senior population – where 3 out of 5 Americans are already outliving their retirement assets.  This doesn’t seem to be a very fair solution, especially when the article points out that this proposal would only trim about 4 percent from the 6.3 trillion dollars in Medicare spending over the next decade.  This article is relevant to me and all other teenagers because one day we will all need Medicare.  My mom will need this government benefit before I do.  I hope that I will be in a position to help my mom, because I don’t think that Medicare will be an affordable option for people who need care and prescription medicines.  If I were faced with a $100 co-payment… that would definitely keep me from visiting my doctor for regular check-ups.  And what about when I need these benefits – I wouldn’t want to have to turn for my children for help. I believe that President Obama and our Congress need to come up with a better proposal.  I also believe that this is something that needs to be addressed and should not continue to be put off.  I read that “White House officials decided to let the short-term struggle over the 2011 budget play itself out”.   (Wow!  That’s like a whole other blog.)  I decided to blog about this article because we have had this talk in school and discussed how people are affected by current Medicare programs and how this proposal may impact us and our families in the future