Trumka: Tuesday’s Vote Was About Jobs, Not Republican Agenda by James Parks, Nov 3, 2010

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America’s voters are angry about the economy and the lack of jobs, AFL-CIO President Richard Trumka said this morning during a discussion at the National Journal’s “The Day After” conference. And if Republicans don’t listen to what the voters were saying, they will be thrown out in 2012.

Trumka said the Republicans would be making a big mistake if they believe voters endorsed the Republican agenda. The votes in fact were a rebuke to the party in power, he said. Speaking to Mike Duncan, chairman of American Crossroads, the Republican mega political action group, Trumka said:

The America people know the economy doesn’t work. They’re suffering and they’re angry because of that and you’re going to have to come up with a way to create jobs and get the economy back on the move. They’re frustrated not because too much was done, but too little was done. But now that you’re in the governing structure, you just can’t say no.

 

He pointed out that 63 percent of voters in the 100 congressional races that swung the election oppose tax breaks for people who make more than $250,000—a key plank in the Republican’s Pledge to America. Nearly two-thirds (62 percent) oppose privatizing Social Security—another Republican proposal, and a large number do not want the retirement age raised to 70.

The union movement’s massive mobilization effort worked, Trumka said. Union members received information or contact with their union 15 to 20 times during the election cycle. As a result, unions counteracted the huge sums spent by corporate front groups like American Crossroads, which spent tens of millions on the election, including $3 million alone on a dozen House races. When union members heard the real facts, they voted for progressives in large numbers.

Duncan even acknowledged that the Republicans this year copied the union movement’s model for getting out the vote, although he told Trumka, “We’re not as good as you are on the deployment.”

Trumka advised Democrats and President Obama to do “what we’re going to because beginning today we’re going to have three priorities: jobs, jobs and more jobs.”

We are going to be pushing our five-point plan to create jobs. I think the President should do that and put these guys to the test. They said they could do it. Now let’s make them do it. And I wish you success because for every job you create there’s an American out there who’ll be able to make a living.

He said he would tell Obama and Democrats to work with Republicans, but not to compromise their principles.

Federal Reserve Rains Money On Corporate America — But Main Street Left High And Dry

Shahien Nasiripour

Huffington Post

Bill Gross will be one of the few to benefit from the Federal Reserve’s announcement this afternoon.

The legendary money manager, who oversees more than $1.2 trillion at Pacific Investment Management Co., stands to profit off the plan hatched by the nation’s central bank. The Fed announced that it will buy between $850 to $900 billion of U.S. government debt, also known as Treasuries, through June to spur the recovery. Over the coming months, the Fed will then communicate its specific plans well ahead of any such purchases, allowing wealthy investors and firms a chance to buy those assets first so they can sell it back to the Fed at a profit. Folks like Gross will be the biggest beneficiaries.

When it comes to helping Wall Street and corporate America, the Federal Reserve spares no expense.

It expanded its authority and bailed out securities and insurance firms. It tethered the main interest rate to zero. It more than doubled its balance sheet to $2.3 trillion by purchasing mortgage-linked securities and U.S. government debt. To arrest the free-falling economy and jolt it back to life, the nation’s central bank has engaged in an unprecedented campaign to ensure banks have cash and corporations access to credit.

Continue reading Banks Steal Another $1 Trillion after Buying the Election →

As reported by http://masscare.org/

Massachusetts voters have, for the second straight election, overwhelmingly affirmed their support for single payer health reform by turning in majority ‘Yes’ votes in all fourteen districts where local single payer ballot questions appeared yesterday.

The ballots spanned 80 different cities and towns in a state of 351 municipalities, winning in every city and town reporting results so far except two.

Five of the districts backing single payer reform yesterday voted for Scott Brown in last year’s special senate election, which was largely seen as a referendum on national health reform. This shows that the goal of improved and expanded Medicare for All is supported by a diverse range of communities across the state.

Continue reading Massachusetts Voters: YES to Medicare for All Referendum, YES to Democratic Candidates →