HOMELAND SECURITY RISK ? UNITED ARAB EMIRATES PURCHASE CONTROL OF SIX U.S. PORTS
Though I am a supporter of the President and much of his policy this is an issue in which I have to part from the administration. The United Arab Emirates has purchased control of six major ports in The United States. The ports affected are New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia. Although the UAE has been an ally in the War on Terror and vocally and financially supports United States interests there are many red flags that appear that bring into question the possibility that this sale could bring with it a threat to our national security. The UAE has been a transfer point in the past for nuclear components sent to Iran, North Korea and Libya. They are also one of three governments who despite the end of the Taliban regime in Afghanistan still recognize the Taliban as the legitimate Afghan government. Additionally the UAE was an operational and financial base for some of the 9/11 murderers. Though this does not implicate the UAE to 9/11 it does demand caution in dealing with a country that has been inconsistent with its support with the U.S. and the War on Terror. The threat that this proposes is not imagined but real. There is far too much at stake to allow an Arab country as inconsistent as the UAE full access to six major ports with all but one on the east coast and the last the key to shipping for the majority of agricultural production for the nation. It has long been known that our ports are one of the most vulnerable aspects in relation to security as it is impossible to inspect every shipping container that enters our extremely busy ports. Then to hand full control of six of the busiest ports that handle most of the imports and exports that enter or leave the United States is inviting trouble. Four Senators and three Representatives are pushing for a Congressional review of the sale. Four of the six are Republicans. This is the only time that I have ever found agreement with very liberal Senator Chuck Schumer from New York. Though I am not quite sure about some of his intentions when Schumer speaks out about anything in this I do believe that he has a point as well as the other five elected officials in demanding a review of this sale because of the possible and credible threat that this sale proposes. At a time when the United States is at war to prevent terrorism and to insure the safety of this nation to open our ports to this possibility is similar to the ridiculous vulnerability that is along our southern border and the influx of illegals everyday. Though the sale has been studied and investigated by the State Department and The Committee on Foreign Investment, this sale demands to be put on hold indefinitely and further investigation take place until it is absolutely determined that it poses NO threat to the nation. Due to the nature of the country and past and current involvements of the UAE this sale will never meet any non- threatening qualification. It is a bad move in a time of war and a bad move in the goal of defeating terrorism.
Ken Taylor
Ken Taylor
posted by The Liberal Lie The Conservative Truth | 9:04 PM
9 Comments:
I hate to be the one to tell you this, but get used to the idea of foreign entities/organizations purchasing valuable U.S. assets. The worsening national debt situation and the horrible federal budget deficit and trade deficit are real threats. Bush and the Republicans have done a real job on U.S. credit. As the U.S. dollar slides in value, foreign currencies will be stronger and large debt holders (i.e., Japan and China) will use their strong cash positions to purchase assets in the U.S.
Doom and gloom....DOOM AND GLOOM! Oh, woe is us! I dare say that you will probably go on living your life without the sale of the ports affecting you one bit, rob. But apart from that, being part of the blame America first crowd is never convincing. And if you're really not a part of that blame America first crowd, rob, lets hear you say something good about America...
I love America. That is why I care about the selling of America to Japan, China, and other foreign countries, as well as the corruption of our government by corporate money. That is why I cannot stand to see the blatant wasteful deficit spending by this administration. The Medicare prescription drug benefit was a clear giveaway to the drug companies. Rask, what is your excuse for not caring? Republicans know what they are doing. Or is it that you love America too much to actually care.
You do realize that we have an $8.2 trillion national debt ($2.5 trillion over the last five years under Bush - which is a record). The way we finance our record budget deficit is by selling U.S. debt. Contrary to whay you may think, we cannot just print more money.
Just watch the business headlines over the next 2-3 years and I am sure you will see exactly what I am talking about come to pass - foreign companies buying up American companies.
For anyone who cares:
Summary of the national debt:
http://www.federalbudget.com/
Major foreign holders of American debt:
http://www.ustreas.gov/tic/mfh.txt
If you look trends over time - everything has dramatically worsened since Bush took office. Don't take my word for it - look it up at the Treasury website and the CBO website.
I hear ya saying you love America...but saying something good about America is still missing...
As for the economy, its not the doom and gloom you paint it out to be. And I have looked it up, rob. It goes like this:
On February 3, 2006, The Unemployment Rate Fell For The Second Straight Month. The unemployment rate fell to 4.7 percent - the lowest monthly rate since July 2001 and lower than the average of the 1970s, 1980s, and 1990s. In January, the economy created 193,000 jobs and has created over 2 million jobs over the past 12 months, and more than 4.7 million since August 2003.
Consumers Are Confident. The Conference Board index of consumer confidence surpassed expectations and rose to 106.3 in January - the highest level in over three years. According to the Conference Board, the number of consumers saying that jobs are "plentiful" rose to its highest level in over four years. Additionally, the University of Michigan consumer sentiment index reflected strong consumer confidence.
Incomes Increase. Real disposable incomes rose 0.4 percent in December and were up 1.4 percent for 2005. Since January 2001, real after-tax income per person has risen 7.9 percent. Real household net worth is at $51.1 trillion - an all-time high.
Retail Sales Rise. Nominal retail sales rose 0.7 percent in December and are up 6.4 percent from 2004. In December, real consumer spending posted a solid 0.9 percent gain and increased 3.4 percent over the past year.
Manufacturing Continues To Expand. The Institute for Supply Management (ISM), a private research group, reports manufacturing activity grew for the 32nd consecutive month in January. The ISM's manufacturing index reading of 54.8 indicates continued sector expansion. According to the Federal Reserve, total industrial production increased a solid 0.6 percent in December and manufacturing industrial production is up 3.8 percent over the past 12 months.
Durable Goods Orders Rise In December. New orders for durable goods surpassed expectations and increased 1.3 percent in December. New orders for machinery rose 6.5 percent - attaining the highest level since the series began in 1992. Over the past 12 months, new orders have increased 12.7 percent.
Productivity Growth Is Strong. During the past four quarters, productivity has increased 2.3 percent. Productivity has grown at a 3.2 percent annual rate since the end of 2000.
Construction Spending Is At An All-Time High. Construction spending rose 1.0 percent in December. For 2005, spending reached a record $1.120 trillion - an increase of 8.9 percent over the previous record set in 2004. Housing starts in 2005 totaled 2.065 million units - 5.6% above 2004 and the highest level in over 30 years. Total sales of existing homes hit an all-time high of 7.072 million units in 2005 - up 4.2 percent from 2004. More Americans now own their homes than at any time in the Nation's history, and minority home ownership is at a record high.
Inflation Remains In Check. The Consumer Price Index (CPI) fell 0.1 percent in December reflecting a fall in energy prices. Core CPI has increased a moderate 2.2 percent over the past year, indicating core inflation remains contained.
Here is what prominent economic experts are saying about the President’s economic growth proposal:
"President Bush's fiscal stimulus package is desirable not only to deal with the current sluggishness in the economy, but also with the longer term problems arising from disincentives to save, invest and work in America."
(Richard Vedder, Distinguished Professor of Economics, Ohio University)
“The President’s economic growth package is a very positive step forward for investors, workers, and taxpayers. For the sake of the economy, we hope that Congress will speedily enact the President's tax relief proposals and NTU will be working toward that goal.”
(John Berthoud, President, National Taxpayers Union)
"The package is a great New Year's surprise. We'll be raising our economic and equity outlooks and lowering our unemployment rate expectations."
(David Malpass, Bear Stearns & Co. Inc.)
"A brilliant, double-barreled tax cut that will increase the income of every American worker and create millions of new and better jobs."
(Martin Anderson, Keith and Jan Hurlbut Fellow, Hoover Institution, Stanford University)
“President Bush's proposed growth plan is not just a bunch of random tax cuts, it is a plan that really pushes the ‘growth buttons’ by improving incentives to work, save and invest, and is a step toward real tax reform. This package, along with recent improvements in the tax treatment of business investment, will give a real lift to jobs and GDP.”
(Stephen J. Entin, President and Executive Director, Institute for Research on the Economics of Taxation (IRET))
"By accelerating tax rate reductions and eliminating the double-taxation of dividends, President Bush's tax package would significantly increase the economy's performance. But the proposal also represents much-need tax reform and is a significant step toward a simple and fair system like the flat tax."
(Dan Mitchell, The Heritage Foundation)
"President Bush's proposal on dividends ameliorates the double-taxation of corporate profits, ending the incentives in our tax code #1 to over-leverage business, with the consequence of too much debt and vulnerability to the business cycle, and #2 to over-rely on accounting numbers rather than the pay-out of cash. His proposal on expensing of capital expenditures will help invigorate our economic recovery."
(Clifford F. Thies, Professor of Economics and Finance at Shenandoah University, and member of the Board of Directors of the American Association of Small Property Owners (AASPO))
"The double taxation of dividends has never made sense and this is a perfect time to remove this crazy form of taxation. It not only harms economic growth in the obvious ways, but also in subtle ways. Given the wave of recent corporate scandals, this is the perfect time to introduce a policy change that will simultaneously increase investor confidence while creating greater accountability for managers."
(Brian J. Hall, Associate Professor, Harvard Business School)
"Taxpayers at all income levels should cheer President Bush's call for greater tax relief. These pro-growth and pro-family tax cuts are well-timed to provide stimulus for the U.S. economy."
(Russell Lamb, North Carolina State University)
“The President's proposal eliminates unfairness in the tax code, distributes the gains widely to Americans who pay income taxes, and creates incentives for growth. What more can we ask?”
(Don Booth, Professor of Economics, Chapman University)
"The President Economic Growth Package is a solid and aggressive plan to further boost economic growth and job creation in 2003 and beyond. The cuts in marginal tax rates will allow all individuals to better spend, save, and invest, and they are especially beneficial to the ongoing viability of the small businesses that pay taxes at the individual level such as Subchapter S Corporations."
(Paul Merski, Chief Economist & Director of Federal Tax Policy, Independent Community Bankers of America)
“I think this is a bold economic package that both provides much-needed near-term economic stimulus and boosts after-tax incentives for growth and investment. The current double-taxation of dividends is unjustifiable on economic efficiency grounds and its elimination should provide a welcome lift to the equity market by increasing after-tax returns on stocks and further improve corporate governance by encouraging firms to increase dividend payouts. The acceleration of the marginal tax rate cuts from 2006 into 2003 should eliminate incentives to defer income and economic activity, which in turn should further boost economic growth in 2003. This is the most significant proposal to roll back tax disincentives to growth and stimulate the economy since the Reagan tax cuts.”
(John Ryding, Chief Market Economist, Bear Stearns & Co. Inc.)
"This is the type of bold action needed to jump start the stagnant U.S. economy. When these measures go into effect, the U.S. industrial sector will resume its role of innovating and creating jobs to provide an engine for growth in the global economy."
(Thomas J. Duesterberg, President and Chief Executive Officer of the Manufacturers Alliance/MAPI, a public policy and business research organization in Arlington, VA)
“The president's plan is directly targeting consumer spending and investment incentives. The reduction of marriage penalty, the increase in child tax credit, the extension of unemployment benefit and speeding up tax relief will help revive consumer spending, increase confidence and boost aggregate demand in the short-run. The end of double taxation of dividends and increasing incentives for small businesses should help sustain momentum in favor of job creation and long-term growth.”
(Magda Kandil, International Monetary Fund)
"Once again, President Bush is demonstrating his strong leadership ability. This stimulus package is just the type of measure this economy needs to get back on track. Just upon hearing about it the markets have reacted wildly in response. Imagine how it'll be when it's enacted."
(Horace Cooper, Centre for New Black Leadership)
"Business investment is key to fostering healthy levels of economic growth. President Bush's plan offers much needed capital and incentives to the sector of the economy shouldering the bulk of job creation, economic growth and innovation -- small businesses and entrepreneurs. We are also encouraged by the President's proposal to eliminate the double taxation of dividends. With the strength of the economy becoming increasingly dependent on the health of the equity markets, this measure will help restore both certainty and investor confidence. The overall package is good for small business, which means it's good for America."
(Karen Kerrigan, Chair, Small Business Survival Committee)
“The President's plan alleviates one of the most economically destructive distortions in the tax law and also provides welcome relief to small businesses.”
(David R. Burton, The Argus Group)
“President Bush’s ‘Taking Action to Strengthen America’s Economy’ plan is a sound and well thought out policy package. The plan offers not only short-term stimulus for the American economy but it also lays the foundation for long-term, non-inflationary, economic growth for the decades ahead. By extending unemployment benefits, the plan reaches out to those workers who, through no fault of their own, find themselves out of work. In addition, the creation of the new Personal Reemployment Accounts will help to ensure that America has the most dynamic labor markets the world has ever seen. One of the most impressive things about the plan is that it is not limited to only short-term stimulus. President Bush obviously understands the importance of long-term economic growth for America’s future. By eliminating the double taxation of dividend income President Bush’s plan will allow Americans to save for effectively for their retirements and to save money for their children’s future. In addition, by encouraging small businesses to invest and invent the plan will help to ensure the rapid advancement of American productivity. These productivity increases will help to insure that America’s children of today will enjoy a higher standard of living than their parents and their grandparents. The positive effects of the President’s plan will be felt for decades into the future.”
(Michael W. Brandl, Ph.D., The University of Texas at Austin, McCombs School of Business, Department of Finance)
“A far-reaching reform of the U.S. tax system to reduce the large distortions implied by the existing structure of taxes on capital income is long overdue. Studies published in leading economics journals show that the welfare of U.S. households improves by an amount equivalent to an increase of between 1.5 to 3 percent per quarter forever because of the tremendous efficiency gains that the economy stands to make from lower taxes on dividends and other forms of capital income. These findings are not driven by glossy budgetary arithmetics. In fact, they follow from economic models that impose though assumptions keeping current levels of government expenditures and transfer payments covered and making the long-run rate of economic growth independent of the tax cuts.”
(Enrique Mendoza, University of Maryland).
Being patriotic means feeling, expressing, or inspired by love for one's country. It doesn't mean you have to criticize to make this country great. Your criticism, rob, reflects your doom and gloom...
Rask, why don't you write a book - oh, I guess you did.
Look, you can quote individual statistics just as I could point out that the jobs that are being created are non-benefit, lower wage jobs, more working Americans are below the poverty level than ever before, more Americans have lost their health insurance (1 in 6 Americans have no insurance) etc.
But the point remains that we are borrowing through the roof to keep interest rates artificially low and to fund the huge deficits. Just think, if the deficitis are horrible now, imagine what they will be when the economy slows (which it looks like it is now doing).
Second, the economy is driven by consumer spending. The savings rate in America is negative for the first time since the Great Depression. Americans are literally bankrupting themselves to buy foreign-made stuff, and our government is borrowing from foreign central banks to pay for the war in Iraq (and other government programs). That is not good fundamental economics.
Believe what you want, but there is no free lunch. Bush's economics are predicated on selling American debt to foreign investors. Over the next few years we will pay for lunacy of his economic program.
rob, you said, "...that the jobs that are being created are non-benefit, lower wage jobs..." How do you know that? What is your source? There isn't any agency that keeps track of that. Pure speculation of doom and gloom. What special enlightenment do you possess that allows you to know what no one else does? You come up with this off the top of your head and expect us to swollow it? Only from the mind of a liberal....
Read about the rising poverty level, the number of working poor, the horrible health insurance problem in the U.S.:
http://www.bls.gov/cps/cpswp2003.pdf
http://www.census.gov/prod/2005pubs/p60-229.pdf
These are put out by Bush. Just look at the charts.
Median income has fallen, the number of Americans under the poverty line has increased - including the working poor (those with jobs), household savings rate is now negative (first time since Great Depression), per capita income has fallen, etc. There is no evidence that the jobs that are being created are good benefit, high pay jobs - exactly the opposite is supported.
Ola, what's up amigos? :)
In first steps it is really good if someone supports you, so hope to meet friendly and helpful people here. Let me know if I can help you.
Thanks in advance and good luck! :)
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