Voters thinking about jobs, not Obama
It’s the economy, stupid.
James Carville’s old mantra rings as true now as it did when he tacked it to the wall of the Clinton war room in 1992. The results of last week’s gubernatorial contests in Virginia and New Jersey can be largely explained by three words: jobs, jobs and jobs. Exit polls from both contests show that voters rated the economy as their top concern.
Health care reform is a vital issue, as is climate change. (Carville’s sign also had a third bullet point: “Don’t forget health care.”) President Obama was right to press ahead with legislation to improve the dysfunctional health care system and regulate carbon emissions.
But nothing is more central to the immediate anxieties of voters than the economy, which is still raining pink slips. Job-seekers outnumber job openings six to one, and the official unemployment rate now stands at 10.2 percent. According to some economists, the government jobless rate minimizes actual unemployment, which may be closer to 15 or 18 percent. For the White House and Congress, then, creating jobs is Job One.
Despite the view on Wall Street that the deep recession has probably ended, the average American hasn’t experienced the return of stability, much less prosperity. Foreclosures continue unabated; credit is still hard to come by; employers aren’t hiring. So what if gross domestic product grew in the third quarter of the year? That’s meaningless to an out-of-work dad avoiding debt collectors.
You can hardly blame Republicans for trying to paint their victories as a referendum on the president’s policies. They chalked up impressive wins — especially in New Jersey, a deep blue state — and they’re using them to boost a dispirited base and rattle Democrats, who were already nervous about their prospects going into next year’s Congressional elections. That’s how the game of politics is played.
But the GOP knows a shaky economy, not Obama’s health care plan, is uppermost in voters’ minds. That’s why the Senate last week passed an extension of unemployment benefits 98-0, with nary a Republican “nay.” The bill also extended a tax credit intended to lure home buyers and shore up the lagging real estate market. A day later, the House passed the same bill.
So far, so good — but not nearly enough. The economy needs more government spending if businesses are to start hiring. Congress might also appropriate more money to help state capitals, which have met their balanced-budget mandates by cutting workers and trimming badly needed social services. That’s a vicious cycle which leaves individuals — and the economy — worse off.
What about the deficit? Well, some of the red ink will start to disappear when the economy rights itself; businesses and individuals will pay more in taxes, swelling government coffers. The recession is itself responsible for about 20 percent of the deficit, according to Michael Ettlinger and Michael Linden, budget experts at the Center for American Progress. Fiscal conservatives should take note of that.
If they’re serious about debt reduction, that is. Most of the Republicans now blasting the Obama administration for profligate spending were in power during the Bush administration, when the surplus was eaten away by tax cuts, two wars and a Medicare prescription drug plan. Since 40 percent of the deficit can be attributed to policies adopted during President Bush’s tenure, according to Linden and Ettlinger, it’s hard to take those Republicans seriously.
And Democrats would be foolish to listen to their no-government-spending mantra. It’s going to take more stimulus to juice an economy left very nearly in ruin by the banking crisis and the real estate crash.
Sure, it’s counter-intuitive to spend more with high deficits. As a beginning skiier, I had a hard time learning to lean forward to keep from falling. The natural tendency, as I swooshed downhill — fast and frightened — was to lean backwards. Fell every time.
This economy has fallen far enough. It’s time to lean forward.
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© 2009 The Atlanta Journal-Constitution
119 comments Add your comment
Common Sense/Block #23
November 6th, 2009
5:19 pm
Obama thinking about Obama and not jobs …………… !!!
bob
November 6th, 2009
6:17 pm
Obama and the dems are not creating alot of jobs but the ones they are generating are good public sector jobs. We all know we do not have enough government employees, good union dem voting employeess.
Tom Middleton
November 6th, 2009
6:21 pm
Cynthia, why did you close “A bad man, not a bad religion”?
Common Sense/Block #23
November 6th, 2009
6:21 pm
To bob:
You are right on ………………..
Let’s all sing together now ….
“Everyone stand up and holler for the Union
Let’s give the brotherhood a cheer,
Everyone stand up and holler for the Union
We ain’t hit a lick all year !!”
Common Sense/Block #23
November 6th, 2009
6:24 pm
To Tom Middleton:
Probably because I make people think by posting stuff like this :
Living in a free country, getting a free education, taking the military oath as an officer, military discipline, a physchiatric degree and common human decency could not disuade this terrorist from his evil deeds. That, my friends, it what we are up against.
The all “Japanese-American” 442nd Regimental Combat Team fought the Germans in World War II. I say we organize an all “Muslim-American” Regimental Combat Team (let’s say …… the 666th) to fight the Taliban in Afghanistan and see how many volunteers we get.
Most of the mainstream media last night wouldn’t even identify the Ft. Hood terrorist as a Muslim. But heck, the Atlanta Journal & Constitution won’t even give the race of a bank robber anymore.
The three ” I ’s ” – Uncontrolled “immigration”, the “intolerance” of Christianity and our Judeo/Christian roots and the growth of radical “Islam” in the United States are the three greatest perils to our Republic.
Tom Middleton
November 6th, 2009
6:37 pm
To Block #23
Unless you’re black, very intelligent, highly educated, very successful, very sexy, and changed your name, you’re not her. Sorry…
Joan
November 6th, 2009
6:37 pm
Cynthia, when did you get a degree in finance? You, like most of Congress, are completely incompetent to know how to fix the economy. In a free market system, you need to free up the market. What you do not do is reward the incompetents, keep the bums on life support, and siphon money off people who work hard for it. And yes, I have a degree in business, have taken finance and economics–and you, and most of Congress, are idiots. The people who vote for these idiots will soon learn that when you kill the golden goose, everyone dies.
Joan
November 6th, 2009
6:39 pm
By the way, your idiot Congress just voted to make sure whether a person was an American or not was not part of the census. That is a clear signal that Congress is hoping, by the 2010 elections, they will have passed an immigration reform act that puts all these illegals on healthcare, and allows them to vote. When we have the party in power that caters to the entitlement people, the government employees, and the dregs, we will become very like Nigeria. The only wealthy people will be the crooked politicians.
river
November 6th, 2009
6:59 pm
[ But the GOP knows a shaky economy, not Obama’s health care plan, is uppermost in voters’ minds. That’s why the Senate last week passed an extension of unemployment benefits 98-0, with nary a Republican “nay.” ]
Overall, a good article, but the above comment is incorrect. The extension passed because Majority Leader Harry Reid filed a cloture motion to shut down GOP stalling that had lingered for a month….ONE MONTH! On the first cloture procedural vote, there were 13 ‘nay’ votes, some of which were from Senators hailing from states with horrific unemployment rates (both of South Carolina’s senators were in this column). 30 hours later, another vote passed with 2 ‘nays’. The third and final motion sending the bill to the house had a single ‘nay’ (Senator Kit Bond from Missouri).
It is important to remember–and to tell all the starving and homeless unemployed–that there are some Senators more worried about ACORN funding and political statements than helping constituents. I hope those heading to the polls in future elections will keep this in mind.
Common Sense/Block #23
November 6th, 2009
6:59 pm
To Tom Middleton:
Cute, but I doubt she will answer you personally. Therefor, as “I” said, she probably closed it because of posts like this …….
“Every soldier killed or wounded at Ft. Hood should receive a purple heart. This was just another battle in the War on Islamic Terrorism.”
and this …………..
“An Army base staffed by thousands of highly trained combat soldiers and not even NCO’s or officers had the ability to defend themselves from a lone terrorist before local police arrived. Times have changed. Sounds like a wake-up call to me.”
“We can best honor and remember those who fell at Ft. Hood by ensuring it never happens again.”
Tom Middleton
November 6th, 2009
7:02 pm
Like I said, you’re none of those things…
river
November 6th, 2009
7:13 pm
Joan: I suspect that when you speak about ‘rewarding the incompetents’ and ‘keeping the bums on life support’, you are referring to Citibank, Bank of America and Goldman Sachs, and I could not agree with you more. These bums are ’siphoning money off people who work hard for it’ (taxpayers like you and me) and being rewarded for criminal behavior and incompetence at the same time.
Why is AIG’s Joseph Cassano not being prosecuted for securities fraud? And what about Bank of America’s Ken Lewis?
Lewis sold BofA shareholders on the SEC-conceived merger of Merrill Lynch without telling them that the bank would not only swallow $12 billion of Merrill’s $27.6 billion in losses, it would also pay accelerated bonuses of $3.6 billion to Merrill executives. Lewis kept this information from shareholders before they voted on the merger–that is a crime.
TnGelding
November 6th, 2009
8:06 pm
The “average” american is doing just fine thank you. The only ones feeling the pain are the unemployed, small business owners and government tax collectors.
It’s a combination of the economy, the health care reform debacle and the unrealistic energy plan. Obama is also seen by many that voted for him as too much like Bush and not enough like Clinton. He needs to ground AF1 and get to work in the Oval Office.
TnGelding
November 6th, 2009
8:13 pm
Common Sense/Block #23
November 6th, 2009
6:24 pm
We aren’t intolerant to Christianity, we just want it to take its place among the rest of the religions, as was intended by the Founding Fathers, with no special privileges in our government facilities.
kayaker 71
November 6th, 2009
8:21 pm
Bozo is just another Chicago politician with a gift for gab and a narcissistic bent that will never be satiated. He cannot stand for someone to disagree with him…. Fox news…. and he continually demonstrates to all of us how shallow he is and how much he is in over his head. He is way over his head, good people. When will you admit that we have elected the wrong person. It is painfully obvious to all who can breathe and read that we have a person at the helm who cannot cope with the problems facing him. And meanwhile, America is vulnerable.
Real
November 6th, 2009
8:38 pm
It’s going to take more stimulus to juice an economy left very nearly in ruin by the banking crisis and the real estate crash. SPEND, SPEND, SPEND!!
Dems continue to think they can do as they wish with OUR money!!!!
Jackie
November 6th, 2009
8:59 pm
It’s strange how those that complain about “our money” and “our taxes” never want to acknowledge those dollars are needed to finance the government. Have they ever considered the “free market” is a collection of rules and regulations that help the economy work in an efficient manner.
Without the rules being in place, how does business play the game? They(complainers about taxes) do not understand “the scorecard for business is the bottom line.” How does business make the bottom line seem healthy when they do not have the customers with disposable income? They immediately impact their bottom line by firing the workers who make enough to pay their obligations and have enough disposable income to buy other goods and services.
If one only makes enough to meet present obligations, that leaves the economy in a problematic state. Without growth, our business model does not work, therefore, the economy goes through realignment while a new business model is created.
Now, what role should the government play in our economic well-being?
Shananeeeeee Fananeeeeeeee
November 6th, 2009
9:13 pm
“I promise as President I will give a $3,000 tax credit to buisnesses for each additional full-time employee hired.” – Barack Obama. “You Lie” – Joe Wilson
mmmm, mmmm, mmmm, Barack the LIAR Obama
November 6th, 2009
9:18 pm
Wow, what would Cynthia say if the dems had won. Let’s review:
BROKEN campaign promises and bringing change to Washington
• Health Care reform by Labor Day, Oct, Christmas, end of the year, NOT
• the White House is NOT for sale
• Transparency
• bipartisan support
• close Gitmo
• Timmy the TAX CHEAT Geitner
• ACORN
• bring the boys home from Iraq, send them to Afghanistan
• find Osama bin Laden
• NO lobbyist on the White House staff
• all bills put on line so the public can read them first
• no tax increase for anyone making less than $250K
• and on, and on, and on……let’s say it again, mmm, mmm, mmm Barack the LIAR Obama
Jack
November 6th, 2009
9:46 pm
I’m a voter and I am thinking about Obama.
John Galt Jr.
November 6th, 2009
9:47 pm
Right, lets spend our way out of trouble, then tax the poor saps that work. How about a novel idea. Cut capital gains taxes to 0%. Cut income taxes. Can the cap and trade tax crap. Can the healthcare spend. Send freeloading illegal immigrants home. Can the Federal Dept. of Education, HUD, Agriculture, and let the states manage these programs at a state level. Cut Federal spending to less than what is brought in. Then finally enact the Fair Tax. Put the power of the economy back into the hands of what made America great, the individual, not Government. Oh one more thing, hows that Change thing working for you? While some Americans are sitting on their fat asses hoping, the rest of us are DOING.
Joan
November 6th, 2009
10:10 pm
You rock, John Galt Jr.
cmac
November 6th, 2009
10:34 pm
America’s first half white president has proven to be a failure less than 1 year into his term. May he continue to fail!
cmac
November 6th, 2009
10:40 pm
Noticed the comments have been cut-off concerning your drival about Ft. Hood. OF COURSE IT IS A BAD RELIGION!!!!! How many more terrorist acts need to be committed for the greater good of islam before you idoits wake up to the fact that it is a BAD RELIGION!!!!! Read the koran & you will see!
cmac
November 6th, 2009
10:43 pm
ALLAHU AKBAR – where have we heard that shreik before? Oh that’s right, MUSLIM TERRORISTS!!! islam is a BAD RELIGION!!!!
Tom Middleton
November 6th, 2009
11:02 pm
cmac
Islam is no more responsible for Major Hasan’s actions than Christianity is for all those wing-nut crazies who murder for the Prince of Peace. In addition to all the others we know about through history, can we remember Scott Roeder and Eric Rudolph?
Religious or not, we’re each responsible for what we do and for our own reasons why. We can skew our religions of love to support evil (and there’s a lot of this these days), but God tells no one to murder, and as individuals, we’re the ones who must ultimately pay the price!
Sorry, cmac, but in all your ranting about Islam, you’re making Christianity look really, really bad. Ever read the teachings of Jesus?
Jase
November 6th, 2009
11:20 pm
“It’s going to take more stimulus to juice an economy left very nearly in ruin by the banking crisis and the real estate crash.”
Cynthia, are you saying the $800 Billion stimulus package passed earlier this year was/is a steaming pile of crap?
RAMBLE ON!!!
November 6th, 2009
11:31 pm
Didn’t Obama say that if we DIDN”T pass the stimulus package, unemployment would reach as high as 9%?
At least all those union employees at GM are getting paid.
OMG, 3 MORE YEARS!!!!!
Kamchak
November 7th, 2009
12:49 am
OMG, 3 MORE YEARS!!!!!
Here’s what five years of trickle-down got us.
Two-thirds of the nation’s total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928, according to an analysis of newly released IRS data by economists Thomas Piketty and Emmanuel Saez.
During those years, the Piketty-Saez data also show, the inflation-adjusted income of the top 1 percent of households grew more than ten times faster than the income of the bottom 90 percent of households.
Johnny DangerDawg
November 7th, 2009
3:07 am
“The bill also extended a tax credit intended to lure home buyers and shore up the lagging real estate market.” These tax credits just artificially inflate home prices. If home buyers didn’t have the tax credits, the sellers would just have to lower their prices by that amount. In the end, the home *buyers* end up spending the same amount of their own money either way. But the tax credits mean the government (and taxpayers) have to spend money.
clyde
November 7th, 2009
4:47 am
I’m thinking that if I was in debt up to my eyeballs,the very last thing I’d want to do would be to spend more money.That’s just me,mind you,but I’ve always been fiscally responsible.
Kudos to the elected ones for extending the unemployment benefits,but this trying to revive the housing market with artificial means is a bad move.I seem to recall that the housing market,with it’s overinflated values was instrumental in getting us into this mess.Let’s let the housing market sink to it’s real bottom.
What about the deficit? The people in charge for the last few years are responible for causing it.Bush started it and Obama is showing him how it really can be done.The rest of us will be responsible for paying it down.That’s taxes in excess of what it normally takes to keep it running.That number,the real debt,is starting to be a surreal figure that no one fully comprehends.
itsme
November 7th, 2009
6:11 am
I can’t believe that the Obama administration has been in power for almost a year and has done nothing about unemployment. Small businesses provide most of the jobs in this country. Why is nothing done to help them provide more jobs?
Bitter EX democrackkk
November 7th, 2009
7:20 am
Suddenly the popular HR1207 Audit the FEDeral Reserve bill has been gutted by Mel Watt D-NC12…with 308 Bipartisan CO sponsors, WHY would this jerk pull this crap? contact your congress critter to save HR1207 from the wrath of the criminal democrackkks in Congress!
AUDIT and ABOLISH the Federal Reserve, a PRIVATE organization, that has RAVAGED America since 1913! Pass the FAIRTAX and return the REAL POWER to the PEOPLE! N O W !!!
ken
November 7th, 2009
7:36 am
Political Correctness killed 12 soldiers
Vinny
November 7th, 2009
7:38 am
itsme
Because President Obama is not interested in improving the economy. His interest lies in taking it over and making America into a 3rd world country.
Del
November 7th, 2009
7:39 am
Tom Middleton
I’m truly amazed that you seem to be saying that we really don’t have a world and over the last several years a domestic issue with radical Islam who wants to destroy us in the name of their religion. How does recognizing this crises reflect badly on Christianity? Do we have a world and domestic crises with radical Christians murdering people in the name God that I’m not aware of?
DAVID
November 7th, 2009
7:53 am
THINK I’ll just go back to sleep……You are such a booooooooooore…Cynthia
John Galt Jr.
November 7th, 2009
7:55 am
Well kamchack the commie, you freaking idiot, the top 1% pay 40 percent of all federal taxes. Did you know that? The top 5% pay 80% of the federal tab, did you know that? You ever create job or hire anyone? You ever work for a poor person? I bet Cynthia the commie has never created one job either. Guess what? My evil rich ass has created 13.
Grumpy
November 7th, 2009
7:56 am
More government spending to “save us”
In 2009, a bunch of handouts to the states was going to save jobs until things got better. Didn’t happen.
So now we’re supposed to do it again in 2010, under the premise that things will magically get better in 2011. Yeah, sure.
That’s great. Just one question…where is the true, organic economic growth going to come from? When the government STOPS the stimulus, where is the growth? What is the engine? Businesses have no confidence. Taxes are set to go up, which stifles growth. No one trusts D.C.
So how is borrowing billions from China going to magically fix everything in 2010, if it didn’t magically fix everything in 2009?
Road Scholar
November 7th, 2009
8:14 am
Joan: “I have a degree in business, have taken finance and economics..”
So you are an expert for taking some courses? I notice your degree isn’t in finance or economics. I wonder where Rush and the other right wing commentators have degrees and their basis for being experts… on all things it seems. Oh, and what has Rush run or what elected office he has filled so that a record of business actions and decisions, and their results, can be seen. No one seems to discuss that! It’s easy to sit on the fence and crow; its tougher to get in the trenches and lead.
While just now asking in the census whether a person is an American citizen seems late, at least they are doing it. But I don’t think that healthcare officials won’t be looking at the census when someone requests healthcare; they’ll look at their ID’s and health care card. At least they have begun asking!
Vinny: You are just stupid! Why would Obama do that? Why would Congress allow him to do that?
While I understand why unemployment benefits have been extended, they also need to focus on infrastructure spending. That would create jobs, but we would at least have something to show for it other than people sitting on their butts. We would get bridges, roads, sewerlines,… infrastucture to replace and augment that which is deterioating.. which will need fixing anyway.
I have a dream
November 7th, 2009
8:20 am
To the writer of this column. Remember, you have a job. It’s easy for you to say spend, spend, spend when you get a paycheck each week, month etc. What about the millions of people that are part of the 10% unemployed? Hard to spend when you’re just surviving!
And you are correct on one thing…disgruntled american still have the power of the voting ballot. BO, is pushing his changes down the throats of the american people. He needs to give the american people the benefit of the doubt and listen to them.
What good is a “Change Disciple” if he pisses off everyone and only servers one term. He should practice his charm and diplomacy on his own soil. He never intended to be bi-partisan, bi-polar maybe ,never bi-partisan.
jt
November 7th, 2009
8:32 am
It is hard for an owner of a small business or a self-employed contractor to get motivated when they know that over have of their earnings will be stolen from them.(fed,state,local etc..).
I believe that most producers are hunkered down now, and will keep their spending and hiring to a minimum until the next elections. They are hoping for less looting by the gang of 525 in Washington.
The only thing that Washington can do to spur the economy is to lower taxes and go the hell away.
It takes awhile for Harvard lawyers to admit their ignorance.
Paul/Wilson 2012.
scott
November 7th, 2009
8:38 am
the bad economy started with 8 yrs of republicans and putting them back in office will not solve a thing matter of fact it will get worse..remmember bush couldnt even be frank with the american people by saying we were in economic trouble instead he said were were in a slow down ..our great president obama is too busy cleaning up the mess left by republicans..as a very wealth white male i cannot understand why poor whites and middle class whites continue to vote for republicans when they only care about the wealthy and big corporations ..they only care about the rich getting richer..stop voting away your best interest your not doing yourself a favor..REPUBLCANS CARE ABOUT RICH REPUBLICANS ONLY
Jack
November 7th, 2009
8:40 am
Cynthia is right again, “It’s the Economy Stupid” worked for Clinton (our last balanced budget, surplus) and it’ll float or sink Obama. Passing Health Care Reform will help, cap and trade and a big push towards a new green economy is critical. We now have the highest unemployment since Ronald Reagan days, but he seemed to have survived those tough times. Now I personally wish Obama was a little less cautiously pragmatic and more bravely progressive but I figure if my naive liberal self isn’t totally happy and the nutty tea party folks aren’t happy most Americans in the middle will probably be OK. Thank God for a healthy Democracy…….three more years.
mhs4
November 7th, 2009
8:49 am
Despite what I read from a bunch of liberals who obviously have been asleep for years the economy did not totally fail the last eight years. However, the economy definitely has tanked since the democrats have been in control over the past 2+ years. Bush tried to get along with the democrats in the last year or so and made some blunder-head decisions listening to them and trying to pacify them. This was definitely a lack of leadership of his part. Now we are seeing even more lack of leadership. We should have known a used car salesman would have been a better choice than a lawyer.
Kamchak
November 7th, 2009
8:56 am
You ever create job or hire anyone?
Yep.
You ever work for a poor person?
Yep.
Another episode of one word answers to simple questions.
Del
November 7th, 2009
8:59 am
Re: the 8:38 and 8:40 am posts, well…have to say it…dumb as rocks in a box.
John Galt Jr.
November 7th, 2009
9:20 am
So kamchak, how did that job working for a poor person work for you? What exactly where you doing? Did you invest in a retirement plan while you were working for a poor person? How many people have you employed for how long? I don’t mean hiring someone to cut your grass. What about the fact the top 1% pay 40% of the federal taxes, or the top 5% pay 80%? Smoke another joint.
willie
November 7th, 2009
9:25 am
jack. You must have a phd because only affirmative education like YOURS AND Cynthia’s have reasoning like you two. Both are examples that education dont cure stupid. However keep it up because most will go to fox news to get the real news. Then surely all those progressive liberals will get voted out and we will investigate cynthia to make sure she does paid her taxes.
MAC
November 7th, 2009
9:37 am
More government spending is a problem, not a solution.
Most of you have no clue how much worse it can get with unsustainable levels of government spending and debt. Government spending can pump some things up temporarily but then the resulting falloff WILL be much worse.
The lack of fiscal responsibility by this government and the lack of true financial system reforms is apalling. GWB and the last few Congress weren’t much better but Obama ASKED for the job (he didn’t “inherit” this!) and it’s his problem to fix…..except that his prescriptions and lack of real financial system reforms, not window dressings, are going to make the economy worse not better. Wall Street money is just as green, perhaps even more so, to Obama and a Democrat Congress as it was to the Republicans and it shows right now.
The stock market is a temorary illusion. Real unemployment is close to 20% and rising. Defaults on home and commercial mortgages are going to continue for some time. I advise all thoughtful people to hunker down and pay attention to your personal economic situation. It’s going to be a long time before we see real economic growth in this country. More government spending will not change that, regardless of what the short-term focused political no-nothings claim.
MAC
November 7th, 2009
9:58 am
John Galt, Jr.: couldn’t agree more, except for one point.
Too much of GDP in this country has been driven by financial and legal paper shuffling that is stifling GDP growth of real industry. These segments SHOULD be paying more taxes because most are not adding to the industrial economy and providing real goods and services, but merely skimming off transaction costs (and aided by the government through favorable regulations and cheap money)and end up as a shadow tax to business anyway.
Jim in Atlanta
November 7th, 2009
10:26 am
Pretty shocking to hear this line of bull still being fed down our throats. When are the politicians going to wake up and realize there is NO money to spend on surplus or other programs. The Govt. ran a 1.2 trillion dollar deficit last year and is projected to rack up trillions of dollars more over the coming decade. This idea of more govt spending when there is no money to spend is preposterous. Look at what has happened to our national debt over the past 30 years. It has only gone up and never decreased, meaning the government has demonstrated an inability to pay off anything.
Don’t believe the lie that a strong robust economy is going to fill the coffers and help us pay down debt. The government has NEVER paid down debt. From the early 1980’s until just last year we had one of the most rapid periods of economic growth in our country’s history, and yet we managed to take our national debt from less than two trillion dollars to 12.8 trillion in that same time period. This now amounts to 90.4% of our GDP.
And for all the health care public option supporters our there. The amount of interest we now pay on the national debt each year (which is getting close to 400 billion) would be enough to pay for the current health care proposal in front of congress after only two years. Instead that money being paid out in interest is squandered instead of being used here for our own needs. Talk about a drain on tax payer money.
The opinions of the likes of Cynthia Tucker and others are short sighted and wrong headed. She most likely gets her information from the same liberal economists who never saw this economic crisis coming in the first place. The same liberal economists who pushed for lowering lending standards so “poor” people could buy homes. Government interference in the market place is what lead to the collapse we are seeing now but you will never here that from so called main stream media pundits.
booger
November 7th, 2009
10:28 am
Small business accounts for 60 to 70% of new jobs according to which source you listen to. This is the source for a recovery. So what has Obama done for them?
-Promised them a tax hike.
-Pushing a Health care bill which would require small businesses to offer health care or pay a punitive fine.
-Pushing cap and trade bill which will have a direct financial impact on many small businesses
-Backs legislation which would do away with secret ballots in a union campaign.
And people wonder where the new jobs are. They are sitting on a piece of paper with the heading, Plans for after the government comes to it’s senses.
Cynthia, if you spend your own money the same as you encourage the government to spend mine, your credit cards are surely maxed out.
WILLIE
November 7th, 2009
10:29 am
Once again, all of you liberals who want to raise taxes just write a check and send it to the IRS. Make sure you pay taxes and this year do not take any exemptions. Just file single head of household.
Change your exemptions on your pay check and add an extra 200 per week to be taken out. Problem solved. If you deduct like this you should not feel bad when liberals like you do not pay taxes. Do this until Obama leaves office and we will see what a difference it makes. You talk the talk, now lets see you walk the walk.
WILLIE
November 7th, 2009
10:37 am
booger
November 7th, 2009
10:28 am
Cynthia does not have to worry about money, she has federal programs that guarantee she is succeesful in life. If she deems she need more money she will request a pay raise or promotion and get it. Probably a reward of some type to facilitate creating the new position for her. I mean really, why would anyone who wants to be successful in owning a newspaper would hire her–it must take federal programs?
DAVID
November 7th, 2009
11:03 am
Why did the Messiah visit New Jersey 5 timers…Queen B…..You are clueless…Cynthia.
Stu
November 7th, 2009
11:12 am
Jackie, don’t you have some hair issues you can tend to?
Spartann
November 7th, 2009
11:29 am
Some thing ain’t right …. testing 1…2…3.
Sean Farrell
November 7th, 2009
11:37 am
What a croc? Is this an opinion column?
“If they’re serious about debt reduction, that is. Most of the Republicans now blasting the Obama administration for profligate spending were in power during the Bush administration, when the surplus was eaten away by tax cuts, two wars and a Medicare prescription drug plan. Since 40 percent of the deficit can be attributed to policies adopted during President Bush’s tenure, according to Linden and Ettlinger, it’s hard to take those Republicans seriously.”
I love that argument. Makes no sense. If they were wrong then and right now makes no difference. Today is Today. Government never does a good job of spending money ever! Why don’t we make take credits and incentives for businesses, charities, and other private organizations that can do better with the money. Spending money is never the answer. Lets make it easier for businesses to higher by giving them incentives and less taxes.
Here is to less government!
Spartann
November 7th, 2009
11:53 am
Miss Cindy-Loo …… Who are you trying to impress when spout off with Carville then tout Pelosi-ville and Obama-nation…. Everybody knows Clintonian war-room phrases are being expressed in the White House now a days. That being said, you must be drunk if you think Michelle is gonna let our pusillanimous president step outside the executive loo invoking the words of “Bill and Hillary”. Dodgeball is hard enough game to play without all that Arkansian redolence wafting through the air of the war room at 1600. God forbid Missy Obama gets a whiff of it ,,,ooow… ooow… ooow, cause you know how them words grate on that woman’s nerves ….. Truth be known, the mistress of the house doesn’t talk in her sleep any more. Hell, if the staff even catches her humming a single rock-a-Billie note, her “proud for the 1st time” epiphany becomes moot .
MAC
November 7th, 2009
11:54 am
The liberal Democrats are the masters at creating unintended consequences from misguided intentions. Greater government spending is just the lastest one that will cause more devastation. Time to hold these clueless politicos accountable, their track record is a perfect zero.
Linda
November 7th, 2009
12:27 pm
If the problems with the economy was Bush’s fault, why did Clinton take credit for it?
In ‘04, before the recession hit, Clinton BRAGGED in his autobiography that his adm was responsible for the “staggering” “$800B” in loans to borrowers who couldn’t qualify. Clinton also admitted in 8/08 on ABC that the Dems for years resisted any efforts by the Reps to reign in Fannie Mae & Freddie Mac before it was too late.
There is plenty of blame to go around for the world-wide economic mess. What started it was the ideology of Affordable Housing & the tools were Fannie Mae & Freddie Mac. Just follow the money.
Look at the list of 354 lawmakers who received $4.8 M from Fannie & Freddie from ‘89 until the govt completely took them over 9/08, 9 yrs of contributions. Recipient #2 was only in the Senate for 2 yrs. before he went on the campaign trail. Obama received almost as much $ as Dodd did in 9 yrs.
Those of you who blame Bush for the economy need to do your own research.
Keith
November 7th, 2009
12:51 pm
So, Cynthia is now against the Medicare prescription drug program?
Dr. R
November 7th, 2009
12:53 pm
Nice to know we can spend our way out of debt. I think I’ll go get a Hummer to take care of mine.
Madness.
KatyWatts
November 7th, 2009
1:08 pm
Cynthia, you are wrong, as usual. The Fed’s need to get out of the way, get out of the picture, get out of my wallet if we want to get this economy moving again. Don’t you realize how stupid you sound? If we spend more money the economy will get better?? REALLY???? I’m sick and tired of this “sharing the wealth” mentality. If Obama knew what he was doing, he’d would allow the market correct itself. Every economist you talk to voices this edict! By the way, you think George Stephonopoulos has you on This Week just to get a laugh?!
Linda
November 7th, 2009
1:21 pm
Let me get this straight.
Last yr. the DC bunch passed a $152 B stimulus bill & a $700 B Trouble Asset Relief Program, not one dime of which bought up a troubled asset.
This yr. the DC bunch passed a $787 B stimulus bill, nationalized 2 of our 3 auto makers, nationalized our financial system, nationalized the largest insurance company in the world (AIG), spent $3 B for Cash for Clunkers/unions/big business, gave 4-year-olds & IRS employees incentives to buy houses & are giving the unemployed incentives not to work.
The ‘09 stimulus bill was passed when unemployment was 7.6% & we were promised it wouldn’t go over 8%. It’s now 10.2% if you don’t count all the unemployed. Only about 20% of the $787 B has been spent & it’s created a few temporary govt. jobs.
We still need to nationalize our health care system at a cost of over another trillion dollars & pass cap & trade to take more money away from taxpayers for big business.
Our debt is $12 T plus $106 T in unfunded liabilities to Medicare & social security.
There were 24.7 M businesses in the US. 99.9% of them employ less than 500 employees. There’s only 17,000 large businesses, you know, the ones too big to fail.
We passed a minimum wage bill during the worst economic recession in 25 yrs. & the health care bill will require employers to pay for health care, or else.
We’ve already spent money that we didn’t have for stuff we didn’t need, but we need to borrow more money from China to create more temporary govt. jobs? What am I missing?
Ben
November 7th, 2009
1:45 pm
So if we just think of the economy like skiing, we’ll be fine. Great lesson, Cynthia!
clyde
November 7th, 2009
2:03 pm
Linda,
You missed the fact that Warren Buffet bought a railroad for $47 billion.He didn’t do this because he likes trains.He did this because he believes, or knows,or possibly can cause ,the price of oil will rise far enough to affect the trucking industry so bad that goods will be shipped by rail.
Or perhaps he figures that the coming events in the Middle East are going to stop the shipment of oil from there,period.Oil would then have to be transported from Mexico and Canada to the U.S. refineries on the Gulf Coast by any means available,including his train.
Whichever scenario you favor would see the economy of the U.S. totally tank.Maybe you can think of some other reasons Warren bought a train.
Linda
November 7th, 2009
2:29 pm
Buffet bought a train because he likes train wrecks, like our economy will soon be.
Help me understand something.
We have plenty of our own oil, but we have a self-imposed ban on drilling for it because we need to “save the planet,” but we buy it from other “planets” such as Canada & Mexico.
The US is financing the 7th largest co. in the world to drill for oil for Brazil to send to China. China won’t agree to the UN’s Kyoto Protocol, but Americans have to triple our utility bills with cap & trade tax. We borrow money we don’t have for stuff we don’t need from China, who in turn sends us toxic baby formula & lead-based toys & won’t reign in N. Korea’s nuclear threats to the world. We know that nuclear energy is the only alternative source that is reliable, clean & cheap but we can’t use it because it wouldn’t benefit big business & would only benefit the businesses that employ most Americans.
Choo Choo
Tom Middleton
November 7th, 2009
2:47 pm
Del@7:39am: Do we have a world and domestic crises with radical Christians murdering people in the name God that I’m not aware of?
Well, Del, your problems with radical Islam are the same ones the rest of are having with it. But since the real Islam is a religion of love and returning good for evil, we cannot hold all Muslims accountable for what a relatively few crazies try to do to us.
Christianity is also a religion of love and doing unto others what we would have others do unto us. And everytime we hate like I see on this blog, we’re radicalizing our own religion, that’s if we’re Christians. According to real Christian beliefs (and Islamic ones), it’s how we respond to the world around us that makes us clean or unclean. It’s pretty simple really.
And for other examples of how NOT to respond to the world in a way that makes us clean, constructive, and non-extremist ourselves (besides Roeder and Rudolph), I give you George W. Bush, Dick Cheney,and Donald Rumsfeld. Look at the tens of thousands of inncocents they killed in the name of George’s Christian presidency. That poor soul couldn’t get much of anything right!
clyde
November 7th, 2009
5:12 pm
Linda,
The only thing I can tell you is from the old saying I used to hear a lot. It was,”Keep the U.S.green,use Canadian lumber”. Apply that to oil.Use everyone elses’ first.
Tom Middleton,
So far I’ve only noticed two kinds of Muslim.There are the ones that are blowing people up and killing others and there are the ones that are sitting around waiting to see how they’re doing with the program.Pakistan,at the moment,seems to have a third kind.The ones that are going after the first group.We really need a lot more of these.I hope they’re not an anomale.
jt
November 7th, 2009
5:13 pm
There are only two types of human beings.
One type just wants everyone to leave everyone else alone and these humans are students and advocates of the Philosophically Mature Non-Aggression Principle.
The other type refuses to leave others alone and these humans are the Mobocracy Looter Minions with their hords of bureaucrats, jackboots, and mercenaries that perpetuate the perpetration of the loot and booty gravy-train. Rob-peter-to-buy-paul’s-vote bread and circuses of the doomed Amerikan Empire.
You are either the one…or the other.
The John Galt Solution of Starving The Monkeys is the only solution. Stop funding and forging your own chains and shackles. What are you leaving for your children, grandchildren and humanity!?!
The Mobocracy Looter Minions must be allowed to consume everything around them, then each other, and finally themselves. There is no other way. Ayn Rand wrote about it over fifty years ago and it rings as soundly today as it did then.
Peaches
November 7th, 2009
5:18 pm
We have seen the disaster of the first “stimilus” bill. Billions spent and the accounting for the results are done by accountants on crack, determined to find some jobs “created or saved”. We borrowed hundreds of billions from our children’s children and got practically nothing for it.
Cyn, the truth is that the republicans were not properly attentive to spending but their deficits are dwarfed by the Obama administration and the democrat congress. Trillions pile on trillions and partisan hacks like you only blame the republicans.
Del
November 7th, 2009
6:29 pm
Tom Middleton
Maybe I’m missing what you’re saying but I still can’t understand the comparison. You bring in JWB and Cheney but what did they have to do with 9-11 and our response that seemed to be a reasonable one albeit flawed in some respects given the radical Muslim attack that cost our country over 3000 innocent people dead. We haven’t seen the Muslim community really stand up against these horrific attacks against Christians and Jews. What do you mean a few presumably crazies that you refer to? This isn’t a few but many and there is no logical comparison that you are trying to make with Roeder and Rudolph. Please, if you don’t support our country don’t waist my time or yours responding. BTW…I am a Christian and I really take offense to your comments.
ck hall
November 7th, 2009
7:58 pm
My o My–Cynthia when will you Lefty’s wise up–More Gov’t spending will not cure the jobs problem or aid the economy in the future..Less taxes and less regs. will create entrepeneur’s in America and create jobs too!
More Governemt intervention is a fallacy that has never worked! In addition what governemt involed program is well run? NONE!It is so easy to be President when all you do is spend and tax! Heck, even you and I could do that..
Tom Middleton
November 7th, 2009
8:19 pm
Del@6:29pm
This whole conversation started in response to a post by another that “Islam is a bad religion.” Follow it from there, Del, and you should get the point of what I’m saying.
It’s not Islam that’s bad, but those who misinterpret it for their own evil intent. And since most Christians like to talk about how we’re saved in our great haste to point out what’s wrong with everyone else, in spite of the fact that Jesus said, “You know them by what they do,” I was just pointing out that some Christians are as adept at radicalizing Christianity as some Muslims are at radicalizing Islam.
Like I said, it’s pretty simple to understand, and I don’t know why you’re not getting it. George Bush was a self-proclaimed Christian president. From the time he decided to run for the presidency as governor of Texas (when he proclaimed “God wants me to be president”), he was on the road to becoming a Christian president, and look what he did.
He murdered tens of thousands of innocent people in his great effort to get back at a relatively few (compared to the billion Muslims in the world), and this is worse by far than even Osama bin Laden has done to anyone. (And might I add that bin Laden – the main culprit of 9/11- is still out there somewhere, and don’t you find this absolutely astounding?)
If you’re one of those who can’t see the wrong in anything we do in morality and effectiveness, then you’re one of those yet to understand, in spite of everything Bush did or tried to do, why this country is decidedly weaker from his approach. And, Del, you’ll probably be one of those continuing to stand in the way of our learning to fight terrorism smarter and more effectively, now that we have a president who can think.
In case you haven’t realized it, “might makes right” isn’t working (if it ever did), and since we’re not all that mighty anymore, anyway, it’s probably time to find a better approach, which is what our current president is busy doing, even as we speak.
Del, Christians are not rendered immune from following the Christian principles, simply because they think others are worse than they. And if you don’t get that Roeder and Rudolph are parts of radical Christianity in our own country, as was George Bush and his Neo-Con accomplices when he was president, then I give up trying to explain it. As simple as it is, it just may be too much for you at this time!
Oh, and moderate Muslims in this country and everywhere else have been talking against Al Qaeda and the like, AND this latest extremist-thug to strike. Where have you been and why haven’t you been listening?
Del
November 7th, 2009
8:25 pm
Linda,
You rock…Semper Fi
Del
November 7th, 2009
8:45 pm
Tom Middlelton
I don’t know who you think you are lad trying to talk in a condescending manner to me but I served in the USMC 1961-1967 and I know you’re a fake who is just an ideologue ranting against the previous administration without a clue of what you’re talking about. You probably can only get a cut and paste from some far-left log to shore up your fragile ego. You haven’t made one cogent point and I won’t waste any more time with you.
samuel
November 7th, 2009
10:00 pm
To the conservative ranters, I want to make a few points. First, the last time unemployment was over 10% was in June 1983, which was almost 2.5 years into Ronald Reagan’s first term. 17 months later, Reagan was re-elected in a landslide. So to call Obama a failed President less than 1 year into his Presidency is silly. Second, the loss of the ability to make things in this country has crippled the prospect of anyone with less than a college education to succeed. There are too many people who get paid handsomely to shufffle money. This also started under Reagan. Third, budget deficits have exploded under the last 3 Republican Presidents, starting with Ronald Reagan, and no Republican President has presented a surplus since Eisenhower, almost 50 years ago. Fourth, welfare reform was passed 13 years ago, and no one can sit on their butt for an entire lifetime collecting benefits anymore. And last, everyone, at some point will get sick and die, so the idea that people get sick because they neglect their health and that it’s their own fault that they get sick and die is simply silly. For unemployment figures dating back to 1948, simply search for the website of the Bureau of Labor Statistics. Check the website of the Office of Management and Budget for budget information. As usual, conservatives on these AJC political blogs spout rhetoric and invective without facts to back them up. DO YOUR RESEARCH!
Tom Middleton
November 7th, 2009
10:42 pm
Del
I was an enlisted gum-number in the Navy from ‘68-’72, and we worked on a lot of Marines. They were very good people overall – fun and worthy of our admiration. And just so you know, I’m also a political moderate and do all my own thinking and writing, but have a good one, sir!
James
November 7th, 2009
11:47 pm
Samuel,
Your points on Republicans helping to explode the budget deficits over the last 30 years are valid. However, the man in the white house now is on a path to surpass the budget deficits of all three Republican administrations combined. Fact is both parties had a role in all of this. Congress passes spending bills and the president signs them. People tend to forget that point. Also, the measures taken to lift us out of the stagflation years of the 70’s included increasing interest rates and tightening the money supply followed by deep cuts in tax rates (not the gimmicky one time rebate checks our politicians try to disguise as tax cuts today). The path we are now taking is quite the opposite, it was unsustainable before Obama took over and now it is only getting worse. And while it may have some short term stimulatory benefits, it will cause more pain in the long term. You can not spend your way to prosperity when the money you are spending is borrowed and needs to be paid back with interest. Right now what the government is doing is similar to a consumer who has maxed out his credit card and only makes the minimum payment to cover the interest without touching the principal balance. Would it then make sense for that consumer to rack up even more debt in an attempt to become prosperous?
TnGelding
November 8th, 2009
6:27 am
booger
November 7th, 2009
10:28 am
Is that small businees argument a myth? 70% of them don’t even have any employees, and that’s just the ones that PAY income taxes. And many of the ones that do have employees don’t provide any benefits. How many times have you seen one put the money you paid them right into their wallets instead of the cash register? Hence the trillion dollar deficits.
What we need is for corporte America to put us back to work. We’ve proven we can consume everything we produce and then some. Why the emphasis on exports of goods and services, and the outsourcing of jobs? Where would the economy be if the 7 million they’ve let go were working? What would the net benefit be if we released the drug users from jail and let them go back to work instead of burdening us with their care?
clyde
November 8th, 2009
6:40 am
The electeds are half way to forcing a health care bill on us that they ,themselves,wouldn’t touch with a ten foot pole.The cost is another trillion, or more.We pay.
It’s a given that more people are losing their jobs.I’m going to apply to become an illegal alien.It’s all gain from their end.
EVIL REPUBLICANS TIME IS UP
November 8th, 2009
7:49 am
WHO WERE THE TERRORIST BEFORE THE ARAB BECAME THE TERRORIST? IT WAS THE CHRISTIAN KNIGHTS OF THE KKK,REMEMBER REDNECKS U WERE THE TERRORIST TO BLACKS 1ST,REMEMBER THE LYNCHINGS AND BURNINGS OF BLACKS,NOW WHO IS THE TERRORIST? TIMOTHY MCVEIGH ERIC RUDOLPH,REMEMBER THE MASS KILLINGS OF THE INDIANS?
Jimnalph
November 8th, 2009
8:01 am
Is this what you do in your house?! You must have huge credit card bills. Did you miss out on Econ class in high school?! Spending is the answer?!?! You can’t be serious. PresBO has already spent $700B+, and he promised that by doing so, unemployment would stay below 8%. So, what happened with that? [It is above 10% now] Of course, not much of his spending actually went into worker’s pockets. Gov’t is not the answer. Go re-read the Declaration of Independence and the Constitution and you will see that the fathers of our county were very much in favor of that. Now the Dems, and apparently you, think they were wrong.
Jim
November 8th, 2009
8:26 am
and where, Cynthia, do you think the government is going to get all this money you want it to spend?
Jim
November 8th, 2009
8:30 am
Maybe there are no jobs because of the high cost of labor in this country. Instead of supporting unions and higher wages, workers may have to lower their standards and compete with overseas labor for the jobs. Prices are falling in several sectors. Perhaps wages will have to follow.
Ayn Rand Was Right
November 8th, 2009
9:13 am
I agree with Cynthia…it is the economy, and the voters seem to trust the Rs to help them out of the mess.
Ken
November 8th, 2009
9:14 am
I agree we need jobs jobs jobs! Not just jobs but jobs that pay enough to support a family.
danny
November 8th, 2009
9:18 am
This woman is scary stupid. Keynesian theory has been discredited for a long time.
Ayn Rand Was Right
November 8th, 2009
9:26 am
Some Sunday morning thought muffins:
1. Term limits – no one serves more than 3 terms in office
2. A limit on our laws – back to basics, then in order to enact a new law an old one must be removed
3. Fair taxes – not The Fair Tax necessarily, but taxes to be paid in equal percentages by all for the general good
4. Much like religion, there is not much wiggle room when the bottom line is not drowning in 1000s of pages created to serve special interests
Stu
November 8th, 2009
9:54 am
EVIL REPUBLICANS TIME IS UP . True that.
And all water under the bridge so get over it. The country is a financial sh!t hole. And you’re in up to your naps, like the rest of us, so clue in homey dawg blood.
clyde
November 8th, 2009
10:39 am
Ayn Rand,
In states where term limits are a fact of life,politicians fight tooth and nail to get the limiting law repealed.This has to be proof that term limits are exactly what is needed.
Remove laws of equal import.Deciding which one to remove would tie up politicians forever.
Tax every dollar spent on anything.No exemptions for any reason.Hang anyone caught circumventing the system.Again no exemptions for mitigating circumstances.Hang any judge that even thinks of it.
Kamchak
November 8th, 2009
1:33 pm
Keynesian theory has been discredited for a long time.
Funny, that’s not what conservative economist <a href="http://firedoglake.com/2009/10/17/fdl-book-salon-welcomes-bruce-bartlett-the-new-american-economy-the-failure-of-reaganomics-and-a-new-way-forward/".Bruce Bartlett contends.
Bruce’s views are, in my view, romantic: he is (or was, until this book) a small-government conservative and a fiscal hawk. But he thinks deeply and writes honestly – something that is not easy to do without tenure. For his apostasy in the matter of George W. Bush, some years back, Bruce paid with his job.
[...]
Bruce’s dark secret, here exposed, is that he is primarily a historian. He has a keen interest in the musty words of thinkers from a past day, and he actually goes off to read them. A good part of The New American Economy concerns itself with the old American economy–the economy that collapsed in the Depression and that was revived-or, more accurately, rebuilt-in the New Deal.
Though English, Keynes was central to the ferment of New Deal ideas. Bruce here admirably introduces him as, among other things, the greatest enemy communism had in those years. Why? Because Keynes understood that if capitalism were not saved, revolution would result — and because he felt that revolution would be worse. Drastic measures were therefore justified, whatever the business leaders of the day thought.
Cindy is Stupid
November 8th, 2009
2:40 pm
Spend other peoples money, that is the mentality of this third rate opinion writer that calls itself a journalist, roflol. Yo cindy, git a real job, then tell us what you think of deficit spending. When the dollar dies, and it will, do not come looking to me to share my foreign stocks, my gold, silver, and oil, because I will not. I can just hear the words of Barney fa ggo t now, “the shortages are due to greedy people HOARDING gold, silver, and oil, and we will not tolerate that kind of greed in America.” Right FAT BOY. I will burn my oil, and grind my gold and silver to dust and spread it on the wind before I let that fat freak git his thieving fa gg oty hands on any of it. The same goes for cindy and her ilk.
Kamchak
November 8th, 2009
2:55 pm
Yo cindy, git a real job, then tell us what you think of deficit spending.
You mean a real job like VPOTUS?
I thought this had been resolved and agree with Vice President Cheney, who reportedly told Paul O’Neill, “Reagan proved that deficits don’t matter.” He was right.
Cindy is Stupid
November 8th, 2009
3:03 pm
Cheney and all the neocon scum are traitors who belong in prison for the rest of their worthless lives. I despise republicans for letting the neocon scum bags hijack the party for 8 long years. If I were POTUS, my first act would be to pop a W88 on Toilet Aviv.
Kamchak
November 8th, 2009
3:05 pm
I despise republicans for letting the neocon scum bags hijack the party for 30 long years.
fyt
Cindy is Stupid
November 8th, 2009
3:27 pm
Kamchak – Now we know what your are, now don’t we!
Kamchak
November 8th, 2009
3:42 pm
Kamchak – Now we know what your are, now don’t we!
I didn’t know it was a secret.