Startling numbers of Americans are “underwater” -- homeowners and students alike -- and so, for that matter, is Congress, even if in quite a different way. In these last years, it’s been flooded with money. Millionaires, including at least 10 centimillionaires, now make up nearly half of our representatives there, and as a group, they have been growing ever richer as Americans grow ever poorer. Bad times? Never heard of them. Congress’s median net worth rose by 15% between 2004 and 2010 -- and this news, in a recent front-page New York Times piece, hardly caused a stir.
Of course, everything is relative. Compared to the giant energy companies, ours is a Congress of paupers. After all, the Big Five oil outfits (BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell) announced a combined $36 billion in profits in the second quarter of 2011. Exxon alone pulled in $10.7 billion (and spent more than half of those profits simply to buy back its own stock). In the third quarter, the same five companies returned for an encore. They made another $32.6 billion in profits, with Exxon at $10.3 billion (about half of which it again spent on stock buybacks).
Out of a deep sense of civic-mindedness, they and other oil and gas companies have, in turn, showered Congress with their pocket change. From 1989 through 2010, according to the Center for Responsive Politics’ invaluable OpenSecrets.org website, oil and gas companies gave Republicans in Congress $126 million and Democrats $42 million. Throw in a few hundred thousand dollars for the odd “independent,” and you’ve got $169 million dollars of pure oil and gas generosity over that period, which for them, as Jackie Gleason might once have said, is a “mere bag of shells.”
In case you’re interested, you, the American taxpayer, through Congressional subsidies for the oil and gas industry, reach deep into your own pockets and pony up billions every year to support those poor dears. And they turn around and pour what is, in essence, your money into the American electoral process to achieve the usual noble oil-and-gas ends. And just how well does all of that work? Here’s a little surprise: oil company political action committees (PACs) handed out $1.2 million to members of the House of Representatives in the first six months of 2011 and let’s not say “in return,” but -- consider it an unrelated fact -- 94% of the House members who received such funds voted to keep those industry subsidies flowing.
Then, of course, there’s the presidential race where, thus far, Rick Perry has raised $1.2 million from the energy sector, Mitt Romney $532,000, and Barack Obama $395,000. (If you’re talking just oil and gas, the figures are: Perry $648,000, Romney $274,000, and Obama $83,000.) And that’s just the beginning. After all, we’re officially only five days into presidential campaign 2012! And here’s the thing: you can’t always tell just where oil and gas money is likely to pop up. It might even, for instance, turn out to be behind the energy questions people have been asking in Iowa recently.
This is political (and corporate) life as we now know it, and most Americans are remarkably resigned to it. Not Bill McKibben, TomDispatch regular and author most recently of Eaarth: Making a Life on a Tough New Planet. As he showed with the ongoing dispute over the Keystone XL pipeline, when he sets his mind to it, he has a way of making us take another look at the previously accepted and acceptable. (To listen to Timothy MacBain’s first Tomcast audio interview of the new year in which McKibben discusses how the rest of us can compete with a system in which money talks, click here, or download it to your iPod here.) Tom
"The Chinese city of Xi’an has some of the worst air quality in the world. Yet its air is significantly safer than the air in U.S. cities, according to a new study.
If you have trouble believing that, then you ought to have trouble believing Obama Environmental Protection Agency (EPA) claims that U.S. ambient air quality is killing tens, if not hundreds of thousands of people per year."
http://www.washingtontimes.com/news/2012/jan/5/epas-statistics-not-science-but-nonsense/
Posted by: Antonio Andolini | January 06, 2012 at 10:22 AM
So, just what, specifically, is the problem with the Keystone XL pipeline? Please tell me more than it will "contribute to global warming." So does a $250,000 Chevy Volt, since its batteries need to be charged.
http://thenewamerican.com/economy/sectors-mainmenu-46/10295-each-chevy-volt-costs-taxpayers-250000
Posted by: Antonio Andolini | January 06, 2012 at 10:41 AM
Seems Tehran has figured out how to deal with the likes of Rocky and his ramblings:
http://online.wsj.com/article/SB10001424052970203513604577142713916386248.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsThird
It's a conspiracy, man,...
Posted by: Antonio Andolini | January 06, 2012 at 10:51 AM
Antonio,
Don't ask your left wing liberal friends to answer any logical questions with a logical response. All they have is rhetoric and the standard response of "it is GW's fault".
$15 Trillion in debt and counting and all Obama can do is continue to blame others and wage class warfare. Honestly, I believe history will show that this guy is far worse than Carter.
Take care,
Wn
Posted by: Wing Nut | January 06, 2012 at 01:20 PM
Well said, Wing Nut.
Enjoy the weekend.
Posted by: Antonio Andolini | January 06, 2012 at 01:48 PM
When you think about it, it IS George Washington's fault. :)
Posted by: Antonio Andolini | January 06, 2012 at 04:57 PM
WN and AA, I would think with all the links to "facts" in the Tom Dispatch piece, that you guys could have come up with something intelligent to say. No, it's the same old right wing bull crap, keep watching FOX (so called news) for newer platitudes.
Posted by: Rocky | January 06, 2012 at 05:03 PM
Rocky Soros,
We'll keep watching Fox news and you keep drinking the Obama Kool-Aid. I respectfully submit that AA and I are far better informed that the left wing Kook-Aid junkies who follow CNBC.
By the way, have you submitted any proof that higher taxes (including broad based ones) are good for the economy? I didn't think so.
Have a good weekend,
WN
Posted by: Wing Nut | January 06, 2012 at 05:08 PM
Rocky, I did click through those links and that's why I asked the question about Keystone XL pipeline. So, what's the answer? "it's the same old right wing bull crap, keep watching FOX (so called news) for newer platitudes." How disappointing.
Again, "So, just what, specifically, is the problem with the Keystone XL pipeline?" Why does President Obama want to put off any decisions until after the election?
Posted by: Antonio Andolini | January 06, 2012 at 05:23 PM
From a favorite site:
http://www.opensecrets.org/news/2011/12/lobbying-your-true-love-christmas-2011.html
Posted by: Antonio Andolini | January 06, 2012 at 05:28 PM
"Then, of course, there’s the presidential race where, thus far, Rick Perry has raised $1.2 million from the energy sector, Mitt Romney $532,000, and Barack Obama $395,000. (If you’re talking just oil and gas, the figures are: Perry $648,000, Romney $274,000, and Obama $83,000.)"
So who has raised the most?
http://www.opensecrets.org/pres12/index.php
http://www.opensecrets.org/pres12/candidate.php?id=N00009638
Gotta love that Center for Responsive Politics’ invaluable OpenSecrets.org website!
Posted by: Antonio Andolini | January 06, 2012 at 05:43 PM
It's the ones who follow PMSNBC that you have to watch for. CNBC (former home of the ever-lovely Erin Burnett) is what those of us who wish we had money watch.
Posted by: Antonio Andolini | January 06, 2012 at 06:00 PM
Maybe it's because I've watched my 8 month old grandson go through a serious operation but I've come to the George Carlin reality of politics!
http://youtu.be/hYIC0eZYEtI
I'm sick and tired of the "I'm right because I'm a Conservative and you wrong because you're a Liberal!" or "I'm right because I'm a Liberal thinker and your not because you're on the right!"
Wake up and smell the coffee people you're both on your own until you get together and dump this f'n bullshit government! United you stand, devided you fall. And that's the way Washington, DC wants it...a devided population so they can continue ruling us!
As for me I give up on both of you and I'm gonna sit back and watch you destroy yourselves while I take care of my own...and stay the fk away!
Posted by: toonist | January 06, 2012 at 06:21 PM
Best post I've seen in some time. I hope you enjoy the time away from politicking as much as I have for the past five months.
Posted by: jonathan edwards | January 06, 2012 at 06:48 PM
"Anger: an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured."
Lucius Annaeus Seneca, Roman Stoic philosopher, statesman, and dramatist.
Posted by: Antonio Andolini | January 06, 2012 at 06:54 PM
AA,
Sorry, you are correct. MSNBC is the propaganda arm of the of the left wing loons. They drink up the lies broadcast on that program like Kool-Aid.
Rocky, still waiting for your proof!
Take care,
WN
Posted by: Wing Nut | January 06, 2012 at 07:02 PM
I spend little time watching any of the cable "news" programs. I get my info from any number of sources. I'm always interested in opinions and usually want to know the "facts" upon which the opinion is based. It's the discussion, and debate, of ideas that I will spend time on.
Question Authority.
Posted by: Antonio Andolini | January 06, 2012 at 07:39 PM
toonist has a point. In the end, there is nothing We can do about the ReSchmuklicans and the Schmendrickcrats. The fix is in, Right Tony? The best Policy is to Look after Our Own and "Be Prepared" as Baden Powell said. Anger and Hatred are Deadly to those who hold on to such emotions, but Instincts will always lead to Survival.
Posted by: warren, | January 06, 2012 at 07:41 PM
Trustworthy, loyal, helpful, friendly, courteous, kind, obedient, cheerful, thrifty, brave, clean, and reverent.
Posted by: Antonio Andolini | January 06, 2012 at 07:52 PM
A Bygone Era, Tony. Hated by those who would reengineer Our Society, and have done. Do You believe there is always "a Remnant" throughout History that Survives?
Posted by: warren, | January 06, 2012 at 08:00 PM
It's called "human nature". By the way WN, I simply stated the fact that without resources from broad base taxes, incentives such as those offered by States that have the resources raised by such taxes will not be offered in a place like NH without such revenue. Get over it.
Posted by: Rocky | January 06, 2012 at 09:42 PM
Old Broad Base rear's it's Ugly Head. Be Thankful that Rocky is not in Office. "Get Over it" ??? ...that scene from Saving Private Ryan comes to Mind again....Sssh, Go to Sleep GI!
Posted by: warren, | January 06, 2012 at 10:24 PM
Who warned us?
http://www.youtube.com/watch?v=ifJG_oFFDK0
Posted by: Ron Paul 2012 | January 07, 2012 at 07:58 AM
Rocky, leaving aside the issue of using public (our) money to entice a private business to set up shop here, the biggest problems with establishing a broad-based tax for economic development is that once the money gets in the hands of the government, it usually ends up paying for something else. This is especially true when the government is (already) spending beyond all its means.
Add in the fact that at many levels the so-called economic development professionals are lacking in skills, to be polite. Granted it is the type of work that can take time to show results. That legend in his own mind, George Bald, keeps reminding anyone who will listen that he developed Pease Tradeport. Drive through there today and there are plenty of empty buildings. Here in the Androscoggin Valley, we have that legend in the Mayor's mind, Max. Heaven help us all.
Posted by: Antonio Andolini | January 07, 2012 at 08:09 PM
Tony, A Broad Base is the Desired End for Rocky. It matters not what the Reasons may be, They change with the weather! Here We are over 10 Years Past the Claremont Issue, and N.H. has not Collapsed Yet. An Income Tax would not Solve anything, as Calls for a Sales Tax as well, would keep coming. Gov. Thompson was Right then, and His Son is just as Correct Today. Keep the Ax!
Posted by: warren, | January 07, 2012 at 08:45 PM