Daily Archives: December 3, 2012
The following US economic statistics were announced today:
Construction spending rose 1.4% in October, and was up 9.6% on a year-over-year basis.
Vehicle sales have been coming in strong today, with domestic sales at an annualized 11.7 million. Overall vehicle sales are set to top 15 million, the best rate since the 15.5 million annualized in February, 2008. Ford, Honda, and Nissan are posting better sales than expected, while GM sales are weaker than expected.
The Markit Economics PMI Manufacturing Index rose 0.7 points to 52.8, indicating increased manufacturing growth.
In contrast, the ISM Manufacturing Index dropped sharply from 51.7 to a weaker than expected 49.5, a below-50 reading that indicates economic contraction.
Here is a good example of what is wrong with politics today – this time from the right:
Sen. Saxby Chambliss (R-Ga.) on Saturday defended his decision to break with conservative activist Grover Norquist’s anti-tax pledge, telling constituents he would not be “dictated to by anybody in Washington.”
“I think that you sent me to Washington to think for myself. And I want to vote the way you want me to vote,” Chambliss said to a group of local constituents at a Cobb County Republican party event, according to the Atlanta Journal-Constitution. “I don’t want to be dictated to by anybody in Washington, as to how I’m going to vote on anything.”
You see, Chambliss doesn’t seem to get the basic point: he made a pledge. HE made a pledge. Not someone else – him. He didn’t have his arm twisted behind his back when he made the pledge. He did so voluntarily. The dirty little secret, however, is he didn’t make the pledge out of principle, he made the pledge because it was politically helpful and expedient to do so at the time.
Now he wants to back out of his pledge. It is no longer expedient or helpful politically. He, like our President, is trying to blame the predicament he finds himself in – i.e. breaking a voluntary pledge – on someone else. It’s their fault he’s in this predicament. And by gosh he won’t “be dictated to by anybody”.
Well he hasn’t been dictated to by anyone. Again, he voluntarily took a pledge back when it was politically helpful and popular to do so. Now he wants to bail on it. I don’t know about you, but when I pledge something, I give my unbreakable word I’ll do what I pledge to do. I don’t enter into them lightly. And I do everything in my power to live up to the pledge.
It’s about honor.
But apparently that’s a concept that is passe in today’s political world.
Go ahead Mr. Chambliss. Break your pledge. But remember what happened when a certain president bailed on his no new taxes pledge?
I can only hope I’ll be part of the lesson teaching when your time for re-election comes. Then, by Georgia, you’ll be “dictated too” by the people of this state. And you’ll be looking for new work.