It’s About Time For “New Rules”February 5, 2009 at 11:08 am | Posted in Economy, Historical, Obama!, politics straight up | Leave a comment
Tags: Democrats, Economy, Federal Theater Project, hilda solis, NEA, New Deal, Obama!, pitchfork, Republicans, WPA
Excerpt from remarks by President Obama, February 4, 2009:
As part of the reforms we’re announcing today, top executives at firms receiving extraordinary help from U.S. taxpayers will have their compensation capped at $500,000 — a fraction of the salaries that have been reported recently. And if these executives receive any additional compensation, it will come in the form of stock that can’t be paid up until taxpayers are paid back for their assistance.
Companies receiving federal aid are going to have to disclose publicly all the perks and luxuries bestowed upon senior executives, and provide an explanation to the taxpayers and to shareholders as to why these expenses are justified. And we’re putting a stop to these kinds of massive severance packages we’ve all read about with disgust; we’re taking the air out of golden parachutes.
It’s about time that some of the people directly responsible for the economic disaster you and I have to live with get their hands slapped out of the cookie jar.
The President’s statement does not go far enough, in my opinion. The union busting that is going on is unconscionable. The postponement of confirmation of Hilda Solis as Secretary of Labor is part of the effort by Republicans to screw the working person. That Senate Democrats are not fighting harder against this speaks volumes about their commitment to the working person. (See also this.)
The other day, in her short interview of President Obama, Katie Couric was sneering at the idea that a portion of the stimulus funds would go to the National Endowment for the Arts (NEA). In addition to employing out-of-work actors, the New Deal’s “Federal Theatre Project companies covered a number of sections of the country where dramatic productions were infrequently seen,” enriching the lives of thousands of Americans.
We are still reaping the benefits of the New Deal. With the outlawing of child labor, implementation of a minimum wage and protecting the right of workers to organize — things we now take for granted — creation of the Works Project Administration and other New Deal agencies, average Americans were provided opportunities to feed not just their bodies but to feed their minds.
Why do Republicans want you to eat thin gruel while the top one percent of Americans take more and more of our country?
(Cross-posted at FromLaurelStreet)