Car companies treated worse than Wall Street?
FROM CNN's Jack Cafferty:
When it comes to President Obama's plans for the struggling car companies, many autoworkers say the administration is being much harder on them than the many failing banks.
Some auto workers have called ousted GM CEO Rick Wagoner (pictured) a sacrificial lamb, scapegoat, and fall guy.
The president of one United Auto Workers chapter calls it the "age-old Wall Street vs. Main Street smackdown," adding that there's lots of money available to banks that are "apparently too big to fail, but they're also too big to be responsible." Meanwhile he says auto manufacturing and middle class jobs have to meet a higher standard.
Many workers even sympathize with General Motors CEO Rick Wagoner, calling him a sacrificial lamb, scapegoat, and fall guy. They believe the government hasn't given the same harsh terms to insurance giant AIG or the banks in which it's taken an ownership stake. And they're absolutely right.
Michigan Governor Jennifer Granholm calls President Obama's moves quote "a bit of tough love," and says she hopes the financial industry gets "as tough a scrutiny as the auto industry has."
Also, a piece in 'Politico' asks why the banks get carrots while the auto industry gets the heavy stick. They say the White House believes it gave both GM and Chrysler a chance to prove they could come up with a plan for survival, and they didn't.
Also, although the collapse of the American auto industry would devastate workers, suppliers and executives, it probably wouldn't destroy the broader U.S. economy, like the collapse of certain financial institutions could. And since the public seems to have bailout fatigue, this was a chance for the president to show he's not willing to stick the taxpayer with the bill once again.
Here's my question to you: Some autoworkers say President Obama treated car companies worse than Wall Street. Are they right?
Interested to know which ones made it on air?
Pres. Obama headed to Europe, how has U.S. image abroad changed?
FROM CNN's Jack Cafferty:
When then candidate Barack Obama traveled to Europe last summer, he was greeted as a rock star; and there's little reason to think it will be much different this time around. The president has a packed agenda as he heads for an eight day, five country trip that includes critical economic and political talks.
President Obama and his wife Michelle deplane Air Force One near London.
He'll attend a G-20 meeting of the world's major economic powers in London, a NATO summit marking 60 years since the alliance was formed, and international summits on hot topics like Afghanistan and Pakistan. He'll also make his first stop in a Muslim nation - Turkey.
Since becoming president, Mr. Obama has begun to follow through on campaign promises concerning issues near and dear to the hearts of many Europeans; things like global warming, ending the Iraq war and closing Guantanamo Bay Prison Camp.
And polls show Americans are very confident in their new leader as he heads overseas. A new CNN/Opinion Research Corporation survey shows 86 percent of Americans think the president will do a good job representing the U.S. on his trip. And 72 percent say leaders of other countries respect Mr. Obama. Compare that to President George Bush: just after the 9/11 attacks, 49 percent of Americans thought other Countries respected Mr. Bush, and his rating never got any higher than that.
Here's my question to you: As Pres. Obama heads to Europe for the G-20 summit, how has America's position in the world changed?
Interested to know which ones made it on air?
How will stimulus bonus affect your life?
(PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
Millions of Americans will soon start seeing a little extra in their paycheck. It's all part of that massive economic stimulus plan that the president signed into law last month.
President Obama has asked all employers to adjust their payroll systems by tomorrow so eligible workers can start receiving the "Making Work Pay" tax credit in their paychecks.
If paid weekly, single people eligible for the tax credit might get between $10 and $15 per paycheck; and married couples could see $15 to $20. In total, that comes out to as much as $400 a year for single filers and $800 for joint filers.
The full amount will be paid to people making less than $75,000 a year; or $150,000 for couples. There were will also be partial credits for people making more than that; but no more than $95,000 per person or $190,000 per couple. The credit is also refundable, which means that even poor families who don't make enough to pay income tax will still be able to claim it.
$10 or $20 a week isn't AIG bonus money; but for lots of folks it just might make the difference between being able to make that mortgage payment or not next month.
Here's my question to you: How will the stimulus bonus affect your life?
Interested to know which ones made it on air?
War on drugs is insane
Here's something to think about:
How many police officers and sheriff's deputies are involved in investigating and solving crimes involving illegal drugs? And arresting and transporting and interrogating and jailing the suspects?
Cafferty: People will use this stuff whether it's legal or not.
How many prosecutors and their staffs spend time prosecuting drug cases? How many defense lawyers spend their time defending drug suspects?
How many hours of courtroom time are devoted to drug trials? How many judges, bailiffs, courtroom security officers, stenographers, etc., spend their time on drug trials?
How many prison cells are filled with drug offenders? And how many corrections officers does it take to guard them? How much food do these convicts consume?
And when they get out, how many parole and probation officers does it take to supervise their release? And how many ex-offenders turn right around and do it again?
So how's this war on drugs going?
To read Jack's entire CNN.com commentary, click here
Excerpt: Our schools get lousy grades
Here is an excerpt from Jack’s new book, "Now or Never"
Call it another piece of evidence that this once great nation of ours is crumbling: Half of us believe our schools deserve a C or a D for the job they do preparing kids for higher education and making a go of it as grownups in the work force.
So said an Associated Press survey in summer 2008. The AP reported U.S. kids are scoring in the bottom half of the pack when measured against kids from other nations. President Obama's Department of Education (DOE) brain trust has their homework cut out for them if they plan on boosting the grades our schools earn while educating our kids.
Getting our kids through school has become a challenging, complex job that most folks say must begin at home with discipline, parental guidance, and closer attention to our kids' needs.
Obama said it simply in his final debate with John McCain: Unplug those video games, mom and dad, put other distractions away, and get down to work with your kids. Here's a guy who had no father around, basically; who was raised by a single white mother (helped by his white grandmother), sometimes on food stamps; and who became a star at Harvard Law School. So it can be done.
Click here to read the entire excerpt
Don't miss this other excerpt: Parents, your kids aren't that special
How would you change income tax laws?
Americans are currently preparing for next month’s income tax filing deadline whether using tax software, filing on paper forms or using a tax preparer. (PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
With this year's tax deadline quickly approaching, President Obama is tackling tax reform. He's creating a task force to propose ways to simplify the tax code, reduce evasion, close loopholes and make changes in corporate tax breaks. But, their main goal is to raise revenue.
The task force, headed by former Federal Reserve Chairman Paul Volcker, has only a couple of constraints: President Obama says they can't propose tax increases for 2009 and 2010; and after 2010, they can't propose tax increases on families making less than $250,000.
It's estimated there's a $300 billion a year tax gap - which is the difference between what taxpayers owe and what they actually pay. The biggest reason for this gap is under reporting of income. This isn't always intentional; sometimes it comes from honest mistakes by filers who are confused by a very complex tax code. The group is also expected to suggest ways to simplify different kinds of tax credits.
The tax task force will present its proposals to the president in early December. Then it will be a question of getting Congress to sign off on any changes.
Here’s my question to you: What changes would you make to the income tax laws?
Interested to know which ones made it on air?
Should U.S. send more troops to Afghanistan?
FROM CNN's Jack Cafferty:
President Obama is stepping up the U.S. effort in Afghanistan. He says the U.S. will send 4,000 more troops there in addition to the 17,000 additional combat troops he authorized last month.
Pres. Obama says the U.S. will send 4,000 more troops to Afghanistan in addition to the 17,000 he authorized last month.
Mr. Obama is describing a "comprehensive" new strategy to confront the growing threat in Afghanistan and Pakistan. Seven and a half years after the 9/11 attacks he says al Qaeda is planning new attacks against the U.S. from its safe haven in Pakistan.
President Obama says up until now Afghanistan has been denied the resources it needs because of the war in Iraq; and he's pledging those 4,000 additional troops to help train the Afghan Army and police - new legislation that would help the economies of both countries; and more civilian help to develop Afghanistan's economy and corrupt government.
As for Pakistan, the president says that after years of mixed results, the U.S. won't provide a "blank check" to them; they'll have to prove they're committed to rooting out al Qaeda.
It seems like Mr. Obama has public support behind him here. A recent CNN/Opinion Research Corporation poll shows 63 percent of those surveyed favor his plan to send an additional 17,000 troops into Afghanistan. However, he also has his work cut out for him: While 62 percent say the U.S. can eventually win the war there, only half that many think the U.S. is winning now.
Here’s my question to you: Should the U.S. send additional troops to Afghanistan?
Interested to know which ones made it on air?
Tighter rules to hire foreign workers?
FROM CNN's Jack Cafferty:
With more and more Americans out of work - the government is putting up roadblocks for companies that want to hire foreign workers. And that includes higher and lower skilled workers; everyone from dude ranchers and fruit pickers to lifeguards and computer programmers.
Are there really jobs Americans can't or won't do?
The Wall Street Journal reports that at least three avenues of legal immigration have been cut back. For starters, companies getting federal bailout money must prove they've tried hiring American workers for highly skilled positions before they can hire guest workers.
Also, the State Department is calling on some sponsors of seasonal employers - like hotels, golf resorts and summer camps - to voluntarily stop hiring as many foreign workers. And the Labor Department is considering suspending an agricultural guest worker program.
It's a bit of a sticky situation for the Obama administration - which insists it doesn't want to become protectionist when it comes to goods and services. However, with an 8.1 unemployment rate, there are millions of Americans out of work who don't want to see jobs filled by foreigners.
Critics say it's hypocritical to be protectionist when it comes to hiring practices. One immigration lawyer tells the Journal, "You don't abandon regulations because you have one bad year."
But many seem to finally be questioning the idea that there are certain jobs that Americans can't or won't do. Some employers say they are now getting more U.S. applicants for positions that were normally filled by guest workers; while others say they still can't find Americans who want to do certain jobs.
Here’s my question to you: As more Americans lose their jobs, what restrictions should the government place on hiring foreign workers?
Interested to know which ones made it on air?
@jackcafferty on Twitter
Recent Comments