Monday, October 6, 2008

Austin Rep Lamar Smith's Justificiation (or lack thereof) for his Billionaire Bailout Vote

Thank you for contacting me regarding the "Emergency Economic Stabilization Act of 2008." I appreciate hearing from you.

Much of our economic crisis today is rooted in misguided policies of the past. Permitting home mortgages with nothing down was a disaster waiting to happen when home prices fell. Unfortunately, all the bad mortgages and the resulting credit crisis have dragged down our economy and threatened the financial well-being of all Americans.

I have heard from many constituents of the 21st District regarding this legislation. How best to address our economic crisis has been the source of much debate and frustration.

The "Emergency Economic Stabilization Act" passed the House by a vote of 263-171 and was signed into law by the President on October 3, 2008. In supporting this legislation, my first priority was to protect American taxpayers. It is important to make sure that those who have acted responsibly are not punished and that their financial future remains stable and secure. Improvements were made to the plan to address my concerns. Measures were included to ensure Wall Street pays its share and taxpayers are protected.

We are facing the economic equivalent of a cattle stampede. To stop a stampede, you have to act quickly and decisively and get ahead of the herd to turn it. This plan, while not perfect, does that.

The legislation includes more government oversight, restricts executive pay, protects taxpayers by prohibiting the unjust enrichment of participating companies, and promotes transparency by requiring full disclosure of the transactions conducted by the Treasury Department.

The amended legislation also includes a one-year patch to the Alternative Minimum Tax, without which 21 million middle class families would have seen a total of $62 billion in tax increases. The bill includes tax credits for research and development, to encourage the installation of wind, solar and biomass power plants, and for hybrid plug-in vehicles. More importantly for Texas, a state which has no income tax, this legislation will continue to allow residents to deduct state and local sales taxes from their federal income tax returns.

If companies big and small cannot access funds they need to operate and pay employees, this will adversely impact the entire economy and punish hard-working Americans. If credit to buy homes, cars and other purchases dries up, home prices will fall even further and loans will become even harder to obtain.

This legislation protects American jobs, the financial security of families, and the economy of our nation. Half of all households own stocks either directly or indirectly through 401(k) accounts, IRAs, and pension plans. The "Emergency Economic Stabilization Act" will stabilize the financial markets and restore investor confidence.

The money in the compromise plan will be used to purchase the mortgage-related assets at the center of the problem. When the financial markets stabilize, many of those assets will regain their value and will be sold by the federal government to recover a substantial portion of the cost for taxpayers.

I believe the plan will stabilize the economy, strengthen home values, and prevent a devastating recession. It is designed to be an investment in the future of the American people.

Again, thank you for contacting me regarding this very important issue.

For more information on my work in Congress or to send me an electronic message, feel free to visit the 21st District's website, http://lamarsmith.house.gov.

Sincerely,
Lamar Smith
Member of Congress

Saturday, September 20, 2008

Coverage in UT Daily Texan

Austin for Nader's letter to the editor published on Friday:

*****
Coverage has reached its nadir

The Daily Texan seems to be engaged in a news blackout of Ralph Nader's independent presidential campaign and the issues he raises:

Nader predicted the financial crisis as recently as July 23 when he told Congress that the federal government's bank insurance fund was insufficient to handle the crisis in the banking industry.

A scandal erupted recently in Pennsylvania surrounding elected Democrats' illegal use of taxpayer funds to restrict Nader from that state's 2004 ballot.

Nader's last poll numbers indicate that he may well be a decisive factor in at least some states' voting results. The Web site Ballot Access news writes that Nader is on 46 state ballots.

Why doesn't the Daily Texan include full coverage of Nader with its other campaign reporting?

Madelaine Plauche
UT alum
*********

For online version with coments: http://www.dailytexanonline.com/cm/2.3382/2.3382/2.3382/2.3382/the_firing_line_09-19-08

Thursday, September 18, 2008

Message from Open Debates


opendebates.org

Dear Open Debates Supporters:

The Commission on Presidential Debates, which was created by the Republican and Democratic parties, still refuses to make public the contract negotiated by the Obama and McCain campaigns that will govern our presidential debates. This lack of transparency is unacceptable. It is time to take action.

Senator Lindsay Graham (R-SC) of the McCain campaign and Representative Rahm Emanuel (D-IL) of the Obama campaign directly negotiated the secret contract that will dictate the terms of the upcoming presidential debates.

PLEASE CALL the offices of Sen. Graham and Rep. Emanuel and demand that they make public the debate contract. They are elected officials who are obligated to serve the interests of the voting public:

Phone number of the Office of Senator Lindsay Graham (R-SC): 202-224-5972
Phone number of the Office of Rahm Emanuel (D-IL): 202-225-4061

Also, PLEASE CALL the Commission on Presidential Debates and demand that it makes public the debate contract. The Commission claims that its mission is to ・provide the best possible information to viewers and listeners.・ Hold them accountable to their mission.

Phone number of the Commission on Presidential Debates: 202-872-1020

Please let us know what happens.

Open Debates is teaming up with nine other pro-democracy organizations to issue the following press release today demanding the release of the debate contract: http://www.opendebates.org/makecontractpublic.html

Additionally, you can hear Open Debates Executive Director George Farah on the radio show ・CounterSpin・ at the following link: http://www.fair.org/index.php?page=3610

Thank you for all your support!

-- Open Debates Team

Sunday, September 14, 2008

Congress Avenue Bridge

On Thursday afternoon this week, September 18, a group of concerned citizens will gather on the Congress Avenue bridge (officially, newly-renamed Ann Richards Bridge) to call attention to the upcoming Presidential debates.

We represent a diverse political spectrum. And hold divergent political opinions. But we all believe an Open Debate is an essential component of American democracy. We invite you to be a part of this movement - to call upon the two political parties to open the debates to all third party presidential campaigns.

We gather at 5:00 p.m. and hold signs and collect names for petitions to open the debates. Our plan is to do this each Thursday from 5 o’clock until dark.

We invite all third parties to join us in this common effort.

Friday, September 12, 2008

Saturday Event canceled due to storm

Due to Hurricane Ike, Austin For Nader will not be holding an Open the Debates event at this Saturday's (tomorrow) Austin Farmer's Market. Sorry for any inconvenience this may cause.

AFN

Wednesday, September 10, 2008

Open the Debates Events


In response to Ralph Nader, Ron Paul, Cynthia McKinney, Bob Barr and Chuck Baldwin coming together to oppose the establishment parties and support independent and third party candidates, please join Austin for Nader and other third party groups for weekly Open the Debates visibility events around Austin that will consist of holding signs, petitioning, and engaging people on the issues.

The first Open the Debates event will be this Thursday evening (tomorrow) on the Congress Street Bridge (parking in American-Statesman paring lot) from 5:00 – 7:30pm, followed by an Open the Debates meeting at 8:00pm at the Magnolia CafĂ© (1920 S. Congress Ave).

Pending Hurricane Ike, Austin for Nader also has tentative plans to attend an Open the Debates visibility event on Saturday morning (Sept. 13) to hold signs and petition at the Downtown Farmer’s Market (9am-1pm at 4th & Guadalupe). Check back soon for more info.

Contact Austin for Nader for more information at austinfornader@gmail.com or visit austinfornader.blogspot.com

Paul, Nader: Reject the major parties, go for a third


Paul: Reject the major parties, go for a third

By Suzanne Gamboa and Sam Hananel

WASHINGTON (AP) — Libertarian-leaning congressman Ron Paul is urging voters to reject John McCain and Barack Obama and support one of the third-party candidates for president.

Paul, a Republican who abandoned his White House bid earlier this year, is gathering some of the candidates, independent Ralph Nader among them, on Wednesday to make his plea.

"The strongest message can be sent by rejecting the two party system," Paul said in prepared remarks obtained by AP. "This can be accomplished by voting for one of the non-establishment, principled candidates."

He recommended Chuck Baldwin of the Constitution Party, former Georgia Republican Rep. Bob Barr of the Libertarian Party and former Georgia Democratic Rep. Cynthia McKinney of the Green Party. He invited them to his news conference Wednesday.

Read more here

VoteNader.org
AustinForNader.blogspot.com

Sunday, September 7, 2008

Welcome!

Welcome to the Austin For Nader.

A new site for folks who feel that current presidential politics are laden with narrow agendas, special interest groups, and a lack of understanding of the issues facing our country.

We invite you to learn about the issues which define this election, and more importantly, what Ralph Nader offers America in 2008.

We are concerned about health care, the environment, the war in Iraq, peace in the Middle East, ballot access, free debate, corporate influence in Washington, the failing economy, and a two-party system which ignores the needs of the working American. Among many other concerns.

We hope you will join us in this journey.