Pawlenty is out!

Former Minnesota governor Tim Pawlenty has dropped out of the presidential race!  That’s too bad, in my opinion.  Though he didn’t come across strongly, he seemed like someone who could credibly serve as president.   Who will benefit from his exit?

Pawlenty realizes he wasn’t what GOP voters were looking for – The Washington Post.

A different take on our economic woes

The wild fluctuations of the stock market last week seem to be a reaction to the national deficit and the downgrading of American bonds.  But, as financial analyst Liaquat Ahamed, points out, investors were dumping stocks and investing in government bonds, despite the downgrade and despite record low interest rates.

So, if financial markets aren’t worried about the full faith and credit of the United States, why is the stock market falling? An alternative view, most prominently expressed by New York Times columnist Paul Krugman, is that the markets have concluded, given the struggling economy, that budget cuts are precisely the wrong medicine for what ails us. The Obama administration was backed into a corner by the S&P downgrade and must now focus on cutting the budget deficit to the exclusion of all other policy objectives. Such austerity — whether achieved through spending cuts or tax increases — at this moment in the business cycle would only exacerbate a slowdown. In this reading, the stock market is preparing itself for the coming double-dip.

If this is the market’s message, what should we do? Instead of instituting deeper budget cuts and other austerity measures, the government should pursue the opposite: It should take advantage of the fact that it can essentially borrow for free to finance badly needed infrastructure investments. After all, our airports, roads and bridges are in need of urgent repair, and the extra investment would provide job opportunities and inject money into the economy.

via What is the stock market telling us? – The Washington Post.

Expect that to be the Democrats’ position, that we should stop worrying about the deficit and spend even more money to create jobs and get the economy going.  Mr. Ahamed says, however, that this isn’t politically possible.  Mainly because ordinary Americans saw the government bailing out big banks and corporations, but doing nothing to bail them out.  He proposes a different kind of government activism aimed specifically at consumers and homeowners, which, I suspect, may also become Democratic proposals:

A large-scale government program to restructure residential mortgages and help households refinance underwater mortgages would reduce the debt overhang and support consumer demand. Most important, by channeling public money to help individual families, rather than Wall Street, this initiative could alter the political dynamics that currently doom any government efforts to jump-start the economy.

Can you answer this take on the economic problems and what government might do about them?

Rick Perry is running for president

Texas governor Rick Perry has announced that he running for president.  As the longest-serving governor of a big state, Perry comes with lots of executive experience, with a strong  record of economic growth and job creation.  He is an open evangelical Christian, going so far as to lead the prayer and preach from the Bible at a recent religious rally.  The Tea Party likes him, as do business interests and the Republican establishment.

Is he someone you could support?  (I’d like to hear from Texans about what kind of governor he is.)

It’s official, if familiar: Perry’s in.

Education & religion reconsidered

It has long been said that the level of a person’s religious commitment goes down proportionately to how much education that person has received.  But now it turns out that church attendance and Bible reading actually increases with education.  And so does theological liberalism:

People tend to become less religious as they become more educated, right? Not necessarily, according to a new study.

After analyzing data from a large national survey, University of Nebraska-Lincoln sociologist Philip Schwadel found that people actually tend to become more religious – by some definitions, at least – as they further their education.

“It all falls down to what you consider to be religious,” said Schwadel, an assistant professor at the University of Nebraska-Lincoln. “If it’s simply attending religious services, then no. Highly educated people are not less religious; in fact, they’re more religious.”

“But if it’s saying the Bible is the literal word of God and saying that only one religion is the true religion, then they are less religious,” he continued.

Schwadel used data from the highly regarded General Social Survey, a cumulative and nationally representative survey conducted by the National Opinion Research Center at the University of Chicago biannually since 1972.

Social scientists rely heavily on the “gold standard” General Social Survey, which provides cumulative data collected regularly between 1972 and 2010.

His study will be published in an upcoming edition of the journal Review of Religious Research.

Schwadel found that with each additional year of education:

– The likelihood of attending religious services increased 15%.

– The likelihood of reading the Bible at least occasionally increased by 9%.

– The likelihood of switching to a mainline Protestant denomination – Episcopal, Lutheran, Presbyterian USA or United Methodist – increased by 13%.

via Study: More educated tend to be more religious, by some measures – CNN Belief Blog – CNN.com Blogs.

So what do we make of that?

 

The rise and fall of the Berlin Wall

Saturday marks the 50th anniversary of the construction of the Berlin Wall, which divided the city–and by extension Germany and Europe itself–between Communism and freedom.  You have simply got to read this account by the Lutheran journalist Uwe Siemon-Netto, who not only saw the wall built and torn down, but was himself with his family personally caught up in the division between East and West.  Most notable in his account is the role Christianity and specifically Lutheranism played in the tearing down of the wall and the fall of Communism.  Alas, though, he says, the Christian revival under Communist persecution has faded, as the former East Germany, now that it is free, has become godless to the core.  But read what he has to say:  Uwe Siemon-Netto’s Blog: And the wall fell down flat.

HT:  Jordan J. Ballor

The Super Committee

Congressional leaders have appointed the “Super Committee” tasked by the debt reduction deal to recommend spending cuts and bring the federal budget under control.  There have been other such committees, of course, whose recommendations have been ignored, but this one has some clout:  Its recommendations will be voted on with an up or down vote–rather than death by a thousand amendments–and if they get voted down, automatic cuts click in.

What do you know of these folks?  Do you think they can solve the debt problem?

Rep. Jeb Hensarling of Texas;

Rep. Dave Camp of Michigan;

Rep. Fred Upton, also from Michigan;

Sen. Jon Kyl of Arizona

Sen. Rob Portman of Ohio;

Sen. Patrick J. Toomey of Pennsylvania

Sen. Patty Murray of Washington

Sen. Max Baucus of Montana

Sen. John F. Kerry of Massachusetts

Rep. James Clyburn of South Carolina

Rep. Xavier Becerra of California

Rep. Chris Van Hollen of Maryland

via Deficit ‘super committee’ reflects party leadership – latimes.com.


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