Schieffer's True/False Test For Congress

Given The Economic Facts, The Answer Should Be Easy ... But Then, We're Talking Washington Here

(CBS)  Weekly commentary by CBS Evening News chief Washington correspondent and Face the Nation host Bob Schieffer.

---

This is not a commentary: It is a collection of facts.

598,000 jobs were lost in January. That’s the largest loss in thirteen consecutive months of decline.

Since December of 2007, 3.6 million jobs have been lost, half of them in the last four months.

More than eleven and a half million people are now unemployed. Unemployment stands at 7.6 percent.

The underemployed - that is, those who have given up looking for work and those who are working part-time because they can’t find full-time jobs - now stands at 21.7 million people.

More than thirteen and a half million Americans now owe more than their homes are worth.

Retirement accounts have lost more than two trillion dollars in a year.

The global economy is getting worse, which will make it harder to sell American goods abroad.

And the banking system is a mess.

The following is also not a commentary; it is a true/false test.

The process is underway, but in light of those numbers you just heard, wouldn’t it be better for all of us (and for them, as a matter of fact) if Congress - Democrats and Republicans - now put less emphasis on partisan games from here on in and more emphasis on trying to resolve all of the above?

[valleej]

There are a multitude of ready to go projects around. The problem is that the money that is being given through the stimulus program comes up short every time. It is as if they do not want these programs to work.

[Richielakes]

Washington and Wall Street are now fully engaged in a shameless shell game designed to deceive millions.

The regulators? notion of ?stress? is a 3.3 percent economic contraction and 8.9 percent unemployment in 2009.

But the economy is already shrinking at the annual rate of 5 percent and unemployment is already at 8.4 percent.

Worst of all the rosy earnings that banks announced last week are based on jury-rigged accounting rules:

Rules that allow the banks? accountants to simply wave a magic wand and

* Instantly inflate the book value of toxic assets they own
* Miraculously vaporize liabilities they are responsible for
* Magically erase billions of losses in their quarterly reports ? treat them like they never even happened.

Put simply, Washington are so terrified by the true condition of America?s banks, they have resorted to COOKING THE BOOKS!

[cbsnewscomme]

http://my.nowpublic.com/world/w-house-knows-700b-bankbailout-and-787b-stimulus-scam-fraud....

Hello Bob,
Here is the real solution......

[MartyUrra]

When Bush lost the popular vote, everyone set asside that fact, and the contested election, and the failure to pay attention the the August 6 PDB which resulted in 9-11, and supported President Bush when he needed everyone's support after 9-11. The media went overboard supporting the Bush wars including holding back when the WMD reason for the war turned out to be a lie. So after such lack of a mandate, such failure, and such lies, the media hush was still obvious enough to impact the 2004 elections. Now, we would think that President Obama deserves at least some level of support to carry out the true mandate he actually brought to the job, particularly when America's future is just as much in need of unity as we were when we went into Afghanistan after those who attacked us and everyone supported it. And if not support, at least, less stumbling blocks to the recovery efforts

[homjett]

Gee, a Liberal Newscaster, now beggin the Repubs to get on the Obama bandwagon for the good of the Country. Where was this little man 8 years ago, or 7 or 6 or 5 or 4. The Dems trashed Pres Bush at every turn. No one was blaming Pres Bush when their 40lK's were making loads of money when the Stock Market hit historic levels. The Dems don't really need the Repubs, the control every thing. Those 95 % of folks that Pres Obama is going to give a Tax break too, are in for a mighty big surprise, when every thing is going to higher priced for everyone, heating, gas, road tolls, food, rent, etc.

[annaamed]

Mr. Schieffer, I really respect you a lot and want you to have some of the following question raised in your show. If you can get some answer from President Obama:
Why our $$ Billions is going to help failed Banks like CITI etc??
Why we are increasing force in Afghanistan, when nobody has ever won Afghanistan (read history) and will never be able to win. But we will have more $$ Billions pump in like Bush, and have more soldiers dead or broken legs and arms. Mark my word that Obama will fail there, unless he want to be remembered as Bush.
Thanks

[markangeloo]

Just admit the truth we are so bankrupt, amerikans
are the new slaves to the world. Bend over & be spanked.

%u201CU.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.%u201D
- Ben Bernanke

In a perfect world, Bob, in a perfect world. Unfortunately, there are those who hold that a "fact" without partisan interpretation is as useless an exercise as putting lipstick on a pitbull. Tom Coburn and Jim Inhofe could no more support ANY idea coming from President Obama than GM could agree Ford Motor offers a better product. You recall the story of the scorpion who, assuring the bird it would not sting him, rode the back of the bird across the waters and halfway through the trip, stung the bird, killing it and guaranteeing a watery death for the passenger as well. Why did you do that, gasped the bird? It is in my nature; I am a scorpion after all, said the scorpion. Bob, it is in their nature. That''s a fact.

[eddiecurrent]

Here''s an idea to help restore America''s flagging faith in our government structure; Using some random selection process, choose 10% of the members from the House and 10% from the Senate. They might even make the selection process a media "event" of some kind. Once chosen, each "winner" must live as if THEY were just fired and they must keep a careful log. No help, no
warning, just kicked out with no instructions. Each would have to go through the same daze any other citizen does when fired; apply for and collect unemployment (let''s see how these guys do at $275/week), apply for food stamps, obtain whatever they need JUST as a common citizen would have to and do it all for 90 days. At the end of the 90 days, each must summarize their logs and present the results to Congress, the House and the public. I believe several things would happen;

1) We the people will see that these guys CAN suffer just like us.

2) Each member will gain a whole new insight into just how bad it can be and how impossible the whole situation is for most.

3) Perhaps seeing what it''s like for once and not being so insulated from reality, both Republicans and Democrats would see that they really are the same when it comes to being out of work and perhaps that they should REALLY try to work together (for once) to solve the problems and SKIP the bacon.

[eddiecurrent]

Here''s an idea to help restore America''s flagging faith in our government structure; Using some random selection process, choose 10% of the members from the House and 10% from the Senate. They might even make the selection process a media "event" of some kind. Once chosen, each "winner" must live as if THEY were just fired and they must keep a careful log. No help, no
warning, just kicked out with no instructions. Each would have to go through the same daze any other citizen does when fired; apply for and collect unemployment (let''s see how these guys do at $275/week), apply for food stamps, obtain whatever they need JUST as a common citizen would have to and do it all for 90 days. At the end of the 90 days, each must summarize their logs and present the results to Congress, the House and the public. I believe several things would happen;

1) We the people will see that these guys CAN suffer just like us.

2) Each member will gain a whole new insight into just how bad it can be and how impossible the whole situation is for most.

3) Perhaps seeing what it''s like for once and not being so insulated from reality, both Republicans and Democrats would see that they really are the same when it comes to being out of work and perhaps that they should REALLY try to work together (for once) to solve the problems and SKIP the bacon.

[vdon-2009]

Mr. Schieffer
You start, it seems, upon the premise that the stimulus bill as presented is the best and only "solution" to the range of issues. Is it the intent to ask any and all in Congress (Republicans and Democrats) to put aside their principles, convictions and priorities, and agree with something that is unprecedented in American history?
Additionally, please note for readers if the Rules of Engagement have been in place for a long period of time?
Thanks, and respectfully,
VDon

[lilbrother4]

"Clearly cutting taxes intelligently will fix the problems we now face. We know that to be the case. JFK, a Democrat, proved it. RWR proved it. GWB proved it."


Really Sophroniscus???? GWB proved tax cuts stimulate the economy???? Where have you been????

[sophroniscus]

Clearly cutting taxes intelligently will fix the problems we now face. We know that to be the case. JFK, a Democrat, proved it. RWR proved it. GWB proved it.

As to today''s Democrats... They have no idea what to do, other than to grow government. They will be happy as long as the government grows. But the government produces nothing of value. Just the opposite... the government lives on the wealth produced by others.

The Democrats quickly condemn corporate CEOs for wasteful spending while they spend money like it belongs to them --- which it does not: it belongs to the People. They go on their expensive vacations to exotic retreats and have their own golden parachutes while the People suffer. It is time for us, the People to wake up.

[ioweign]

hell we are already there, wheere are they going to get the money for this new line of garbage they call a stimulis package! they will tax the hell out of you and give most of the money to illegals in this country, what the hell arethey doing! Libs really do suck!

Posted by libsdusuck at 05:16 AM : Feb 09, 2009

Those Bush tax cuts during wartime were $1.4 Trillion in value and you are NOW worried about where the money is coming from - geesz where have you been...

[roach9703]

The question is not "creating" jobs but finding places to employ able bodied Americans. We need to rebuild the nation''s infrastructure in railroad transportation, highways and bridges, mass transit, and the electrical grid. Building programs to deal with these issues can provide meaningful vital employment for many Americans.
Most of these expenditures can be financed by revenues that can be largely amortized by tolls, and user fees paid by the railroads and electric utilities.
Finally we need to expand the Army, as John McCain argues, to at least 750,000 troops to meet our ever expending world wide perils.
All this can provide opportunity for talented individuals, and meet these vital,current needs.
Finally military equipment is used up, and we need new supplies and weapons. This time of excess capacity could meet this need.

[davide73-2009]

Why doesn''t anyone talk about where all the money that was lost went? When the investment banks lost all that money, to whom did they lose it? Where do those people live, and why don''t we take it back? We are talking in the hundreds of billions of dollars. In the present economic climate, anyone with that much money should fear for their life.

[ubrew12]

The time to practice fiscal conservatism is when times are good: sock something away for harder times to come. We didn''t do that and now the game is just trying to wrench the economy back onto solid ground after finding we''ve been skidding on thin ice for several years. You BET that takes an activist government (''socialist'' in the parlance of all the self-made millionaires posting on these boards).

[noloyalisti]

Posted by platteman I certainly hope you have been protesting the failed costly occupations of Afghanistan and Iraq. ANd joine MoveOn out on the street protesting the government bailout of the rich tycoons of Wall Street.

OTHERWISE EVERYONE WOULD SEE YOU AS A HYPOCRITE.

[samthetvcat]

---"Japan tired it, lost a decade, tripled their debt and had the largest inflation rate.
So this plan, porkdogle is so flawed that even a pig would walk away with it."---
Posted by platteman

They didn''t allocate their resources toward making themselves more internationally competitive . . .

[platteman]

you cannot spend yourself to prosperity. Japan tired it, lost a decade, tripled their debt and had the largest inflation rate.
So this plan, porkdogle is so flawed that even a pig would walk away with it.