Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘Gross domestic product’

Alabama As A Third World Country: How True Is It?

Posted by Warm Southern Breeze on Sunday, October 26, 2014

Editor’s Note, Saturday, 15 October 2016: Since Sunday, October 26, 2014, the date of this original publication, Yellowhammer News blog has thought to create their own entry (herein linked) obliquely contradicting the data supplied and referenced in this entry, which has now been published for over two years. Though they do not refute the data cited herein, instead, they refer to an Alabama-based data analysis company, and present data exclusively from the United Nations’ Human Development Index to support their assertion. In stark contrast, we use source citation and and references to the variety of sources used to compare Alabama to Third World Nations.

Also entitled as: How does Alabama compare with Third World Countries?

In so many comparative rankings for quality of life within our 50 United States, Alabama and Mississippi seem in a dead heat for last place. In a veritable “Race To The Bottom,” Alabama and Mississippi scrap over being in last place. In fact, it’s been a long-standing joke – with the sad, bitter sting of truth – that Alabama’s State Motto is not Audemus jura nostra defendere,” which has been translated as: “We Dare Maintain Our Rights” or “We Dare Defend Our Rights,” but rather “Thank God For Mississippi.”

And just so we’re singing on the same sheet of music, and on the same verse, a “Third World Nation” is one which were at one time colonies “formally lead by imperialism. The end of imperialism forced these colonies to survive on their own. With lack of support, these colonies started to develop characteristics such as poverty, high birthrates and economic dependence on other countries. The term was then affiliated to the economic situation of these former colonies and not their social alliances to either capitalism or communism.” In a more modern sense however, a “Third World Nation,” is more readily thought of as being one of several “underdeveloped nations of the world, especially those with widespread poverty.” And it is in that sense to which I refer to Alabama as “a Third World Nation.”

In essence, what that term refers to is Quality Of Life. And, there are many aspects of life that can be measured, such as rates and incidences of crime, employment/unemployment, education, health/sickness/disease, responsive & efficient government, availability of clean water, sewerage, utilities such as electricity, natural gas, supporting infrastructure to deliver those utilities, which includes transportation, roads, highways, airports, railways, and access to the same. There is much more to life than the mere availability of food, clothing and shelter. For example, who would want to eat raw meat, wear bearskins, and live in a cave? In context, those three items are certainly fulfilled. And if that’s all there is, then all is well… right?

Demonstrating that, again, there is MUCH MORE to life than the mere availability of food, clothing and shelter.

Consider, for example, Public Health.

Rates of Obesity, and Obesity-related Diseases (also called chronic, or long-term problems) such as Diabetes, Hypertension (High Blood Pressure), Stroke, and certain types of Cancer, in Mississippi and Alabama are among the highest in our United States. While Obesity is quickly becoming an epidemic of significant national proportions, it is particularly problematic in Read the rest of this entry »

Posted in - Did they REALLY say that?, - Lost In Space: TOTALLY Discombobulated, - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 3 Comments »

China has divested 97% of its holdings of U.S. Treasury bills

Posted by Warm Southern Breeze on Monday, October 8, 2012

Who increased the debt? – h

According to the U.S. Treasury, China has divested 97% of its holdings of U.S. Treasury bills, falling from a peak of $210.4 Billion in May 2009, to $5.69 Billion in March 2011. T-bills mature in one year, or less and are sold to fund the nation’s debt. Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here.

http://j.mp/TiKM7J

The cost of fighting a decade-long war was not funded. In fact, it was de-funded, because taxes were cut. That has NEVER been done in our nation’s history. NEVER.

Only an utter incompetent would cut income and increase spending. And yet, that’s exactly what happened.

Tax revenues as a %age of GDP gradually rose from 1995-2000 from ~28% to 30%, then gradually fell to ~26% in 2005. Since 1945, tax rates have continually fallen, yet it was during that time when tax rates were highest that our nation flourished, infrastructure was created, population and economic opportunity expanded, and small businesses flourished.

According to the United States Treasury, on January 20, 2009: Read the rest of this entry »

Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , | Leave a Comment »

Necessary but Not Sufficient: Why Taxing the Wealthy Can’t Fix the Deficit

Posted by Warm Southern Breeze on Thursday, October 4, 2012

NOW OR NEVER | SEPTEMBER 2012

Necessary but Not Sufficient:
Why Taxing the Wealthy Can’t Fix the Deficit

By David Brown, Gabe Horwitz, and David Kendall

In this paper we shatter the myth that taxes on the wealthy can come close to solving our long-term budget problem. We readily acknowledge that raising taxes on top earners is necessary, but it is not sufficient to solve the looming fiscal crisis. And we make clear that if entitlements are left on autopilot, burdensome middle class tax hikes become inevitable.

Even a 50% tax rate on the wealthy can’t fix the deficit.
Even 50% taxe rate on wealthy can't fix deficitThis is the first in a pair of papers that demonstrate that purely ideological fixes will not sufficiently address our fiscal issues. Our other report, Death by a Thousand Cuts: Why Spending Cuts Alone Won’t Fix the Deficit, proves that a cuts-only strategy cannot solve our budget woes without severely compromising our safety, security, and economic growth. Together, these papers make the case that a big and balanced fiscal package is the preferred way to avoid the fiscal cliff, prevent deficits from exploding in the future, and allow our economy to grow.

To stabilize the debt and create a positive economic climate for U.S. growth, most mainstream economists agree that annual deficits must be reduced to 3% of GDP. The question is: how do we get there?

In order to demonstrate that taxes alone cannot solve our budget woes, we explore three budget scenarios, all of which rely solely on Read the rest of this entry »

Posted in - Even MORE Uncategorized!, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

A: 1.4% Q: What is the annualized spending growth rate under Obama & lowest rate of any president since Reagan?

Posted by Warm Southern Breeze on Wednesday, June 13, 2012

Who’s the Biggest Spender? Obama or Bush?

By BRUCE BARTLETT, The Fiscal Times June 1, 2012

Lately, there has been some controversy about the growth of spending under Barack Obama. It began on May 22 with a column by Rex Nutting of MarketWatch, which concluded that the rate of growth of federal spending under Obama has actually been trivial compared to the last 4 presidents.

According to Nutting’s calculations, spending has grown only 1.4 percent per year under Obama – one-fifth the rate under Ronald Reagan and George W. Bush. Following is a chart accompanying the article.

There has been a considerable amount of debate about Nutting’s calculations, which fly in the face of Republican dogma. Much involves technical accounting issues, such as how to allocate spending during fiscal year 2009. This is important because fiscal year 2009 began on September 1, 2008 during Bush’s administration, reflecting his priorities. By the time Obama took office on January 20, 2009 the fiscal year was almost half over; he didn’t submit his first budget until February 26, 2009 and the fiscal year 2010 budget is really the first one that reflected his priorities.

Nutting assigned the bulk of fiscal year 2009 spending to Bush, an assumption that other analysts have questioned. Glenn Kessler of the Washington Post found that Nutting overstated his argument in various ways. But the PoliFact site of the Tampa Bay Times concluded that the Nutting column was essentially correct.

Aside from the political implications, the reason this debate is important is because there is a tendency for people to conflate spending, deficits and debt, as well as confusing rates of change with absolute levels.

The difference between Read the rest of this entry »

Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , | 6 Comments »

Alabama Commissioner Encourages “Free Trade Agreement”

Posted by Warm Southern Breeze on Thursday, September 8, 2011

John McMillan, Commissioner for the Alabama Department of Agriculture and Industries, recently wrote President Obama and encouraged him “to submit to Congress the Free Trade Agreements with Colombia, Panama, and South Korea,” which he asserted “would create thousands of jobs for Alabama workers and farmers and gain new markets access for Alabama products.

Typically, I don’t “rant and rave” about issues, even if they greatly disturb me. That’s just my “style.” Rather, I endeavor to share understanding with others, and to seek and consider others’ thoughts in the process.

This is one such rare exception.

And yet, that rant is saved for last. Being last, and the fact that it is a rant doesn’t necessarily make it the best part of this entry, however. So bear that in mind as you continue to read.

With all due respect for the issue of “free trade,” I think we Americans have been Read the rest of this entry »

Posted in - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , | Leave a Comment »

Our National Economy -or- How We Got Into This Fine Mess

Posted by Warm Southern Breeze on Saturday, April 23, 2011

The state of our national economic affairs is, to be certain, a complex topic.

And, as complex topics go, there is no one “simple” solution to resolve the greater problem. The greater problem is, of course, the whole state of affairs – especially, and particularly as it relates to every family’s household income.

Again, the complexity of the issue begs to be understood, because Read the rest of this entry »

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