Republican presidential candidate Mitt Romney and U.S. Rep. Paul Ryan wave after Romney introduced Ryan as his vice-presidential running mate during a campaign event at the battleship USS Wisconsin in Norfolk, Virginia, Saturday.
“In naming Congressman Paul Ryan, Mitt Romney has chosen a leader of the House Republicans who shares his commitment to the flawed theory that new budget-busting tax cuts for the wealthy, while placing greater burdens on the middle class and seniors, will somehow deliver a stronger economy. The architect of the radical Republican House budget, Ryan, like Romney, proposed an additional $250,000 tax cut for millionaires, and deep cuts in education from Head Start to college aid. His plan also would end Medicare as we know it by turning it into a voucher system, shifting thousands of dollars in health care costs to seniors. As a member of Congress, Ryan rubber-stamped the reckless Bush economic policies that exploded our deficit and crashed our economy. Now the Romney-Ryan ticket would take us back by repeating the same, catastrophic mistakes.”
— Obama for America Campaign Manager Jim Messina, in response to Mitt Romney picking Congressman Paul Ryan to be his presumptive nominee for vice president
The Wall Street Journal on Thursday strongly urged Romney to pick the seven-term congressman. “The case for Mr. Ryan is that he best exemplifies the nature and stakes of this election,” the paper wrote. “More than any other politician, the House budget chairman has defined those stakes well as a generational choice about the role of government and whether America will once again become a growth economy or sink into interest-group dominated decline.”
How With Ryan, Romney Has the Plutocrat Ticket: “In selecting Paul Ryan, Mitt Romney has doubled-down on the one thing he has never flip-flopped on: economic elitism. Romney, born to wealth, has selected Wisconsin Congressman Paul Ryan, who was also born to wealth. As the former University of Oklahoma football coach, Barry Switzer, once said of someone else: both these guys were born on third and thought they hit a triple.”
“There’s nothing wrong with inherited wealth. Lord knows great presidents from FDR to JFK came into their fortunes through the luck of birth. But there is something wrong with winners of the lineage lottery who want to hammer those who did not have the foresight to select wealthy sperm and egg.
“[...] Paul Ryan, the darling of the New York-Washington media elite, is almost certainly not the most qualified person Romney could have picked. Unlike governors like Chris Christie or Tim Pawlenty, or a former high-ranking White House official like Rob Portman, Ryan has never run anything larger than his congressional office or the Oscar Meyer Weinermobile. The elite love Ryan because he speaks for more cowardly members of their class; his stridently anti-middle class policies are music to their ears.”
LOL: “I represent a part of America that includes inner cities, rural areas, suburbs and factory towns. Over the years I have seen and heard from a lot from families, from those running small businesses, and from people who are in need. But what I have heard lately troubles me the most. There is something different in their voice and in their words. What I hear from them are diminished dreams, lowered expectations, uncertain futures.” — Rep. Paul Ryan • In prepared remarks the just-tapped vice-presidential candidate plans to give this morning. (more here) via: shortformblog
The Ryan Pick: Vulture / Voucher 2012: “This is Romney’s Palin moment—a desperate Hail Mary pass from a campaign that must be in deeper shit than even we suspect. Here’s an excerpt from an NBC interview with Romney that positively reeks of flop-sweat: “Romney also said in the interview he would like a pledge (of sorts) with Obama that there be no “personal” attack ads. “[O]ur campaign would be—helped immensely if we had an agreement between both campaigns that we were only going to talk about issues and that attacks based upon—business or family or taxes or things of that nature.””
“Did he just ask Obama to help his campaign? Yes, he did. Romney’s entire candidacy is premised on his business experience, but now mentioning it is a personal attack. Oh, and taxes. Thank you, Mr. Reid, for driving Romney into making a desperation move.”
org’l image: deadcrackerstorage
The Washington Post reports that “the president’s campaign started swinging at the potential Republican running mates this week while urging home-state Democrats to chime in about the shortcomings that — as emails to donors and supporters put it — ‘Americans need to know.’”
- Tim Pawlenty? The former Minnesota governor is a fee-raiser whose record “is painful for the middle-class families who lived under his leadership.”
- Rob Portman? The Ohio senator is “one of the architects of the top-down Bush budget” that the Obama team blames for “crashing our economy.”
- Marco Rubio? The rookie Florida senator has “led the way on almost every extreme position Mitt Romney has embraced,” according to the missive that seeks examples of “the good, the bad and ugly” of Rubio.
- Chris Christie? There’s “no lack of material to work with” about the pugnacious New Jersey governor.
- Bobby Jindal? The Louisiana governor and former congressman tried to harm Social Security and Medicare and “had the same issues with secrecy and lack of transparency as Mitt Romney.”
The Post notes: ”Those views are far from how Republicans regard the group.” No kidding! Ha ha.
And there are still so many other logical choices for Mitt’s running mate: Paul Ryan, Jeb Bush, a statue of Ronald Reagan, BiBi Netanyahu, Sarah Palin, Mitt’s wife (she’s now an empty nester), Michele Bachmann, Donald Trump, General Jack D. Ripper, Joe Arpaio, Republican Jesus, Joe Walsh, Batboy, Liz Cheney, Boo Boo Child, Glenn Beck, Alex Jones, Rush Limbaugh, the Koch brothers, Ted Nugent, Jack Abramoff, Michelle Malkin, Rick Santorum, Rick Perry, a corporation (they’re people too!), Charles Montgomery Burns, Condoleezza Rice, or Allen West.
It’s believed that Romney will announce his choice of running mate during a bus tour which begins Saturday, taking him through Virginia, North Carolina, Florida, and ending in Ohio. Four years ago at a rally in Ohio, John McCain inflicted Sarah Palin on us as his running mate. Ah, memories!
The endless scheming of the Romney campaign attempting to move the conversation away from Mitt’s tax returns.
POLITICO: “CIA director David Petraeus is knocking down suggestions that he might agree to serve as the vice presidential runningmate for likely GOP presidential nominee Mitt Romney. “Director Petraeus feels very privileged to be able to continue to serve our country in his current position and, as he has stated clearly numerous times before, he will not seek elected office,” CIA spokesman Preston Golson said Tuesday. The flutter of interest in a possible pick of the retired Army general as VP was triggered by a post on the Drudge Report, a conservative website known to have close ties to members of the Romney high command.”
WHAT THE REPUBLICAN PARTY STANDS FOR TODAY—————————–—
MAN OF GOD: It seems that some people would rather not extend the statute of limitations for the crime of sexually abusing children. What kind of monster — no, wait… Cardinal Timothy Dolan has made defeating statute of limitations reform one of his top legislative priorities. This is the guy, remember, who made such a loud fuss about contraception that the president had to cut a compromise deal that caused Dolan and the rest of the clerical errors to make an even louder fuss. And who, most recently, opened his well-stuffed piehole on the subject of the president’s support for marriage equality: “We cannot be silent in the face of words or actions that would undermine the institution of marriage, the very cornerstone of our society. The people of this country, especially our children, deserve better.” — Charles P. Pierce
Mitt Romney’s mantra: Avoid John McCain’s mistakes (PALIN!) – Many of the current strategy discussions are centered on not falling into the traps McCain did: looking wobbly as a leader and weak on the economy in the final weeks of the campaign. The private discussions include ruling out any vice presidential possibilities who could be seen as even remotely risky or unprepared; wrapping the entire campaign around economic issues, knowing this topic alone will swing undecided voters in the final days; and, slowly but steadily, building up Romney as a safe and competent alternative to President Barack Obama. McCain, according to Romney advisers, blew it on all three scores. And of the three, the most conscious effort by Romney’s team to do things differently will be in the V.P. selection process. One Republican official familiar with the campaign’s thinking said it will be designed to produce a pick who is safe and, by design, unexciting – a deliberate anti-Palin. The prized pick, said this official: an “incredibly boring white guy.” – POLITICO
Dimon On Whether JP Morgan’s $2 Billion Loss Proves Banks Are Still Too Risky: ‘I Don’t Think So’ – [JP Morgan Chase CEO Jamie] Dimon has been one of the biggest critics of the Volcker Rule, which is meant to prevent banks from making massive bets with federally insured dollars. [...] Of course, the point isn’t whether JP Morgan, the biggest bank in the U.S., can survive a trade like this. It’s whether the financial system can sustain this sort of trading by all of the big banks, many of which are not in the same financial shape as JP Morgan. As the New York Times detailed yesterday, JP Morgan and the rest of the nation’s biggest banks have been fighting to widen exemptions to the Volcker Rule that would allow banks to continue making risky trades of this sort. ”I hope that the final [Volcker] rule will prevent this,” said Rep. Barney Frank (D-MA), whose name graces the Dodd-Frank financial reform bill, on ABC today. “The Volcker Rule is still being formulated.” — Think Progress
- RNC Chief: Leave Wall Street alone – Host David Gregory asked a straightforward question: “In light of the losses on Wall Street this week, you think we need less financial regulation rather than more?” In Preibus’ mind, it’s not even a close call: “I think we need less.” The RNC chief added that Democrats have “made things worse” by approving new safeguards and adding new layers of accountability to the financial system. It reminded me of an Upton Sinclair line: “It is difficult to get a man to understand something, when his salary depends upon his not understanding it.” — Steve Benen
- Democratic Massachusetts Senate candidate Elizabeth Warren called for JPMorgan Chase CEO Jamie Dimon to resign his position as a director at the Federal Reserve Bank of New York. In a statement posted on her website, Warren said Dimon stepping down would “send a signal to the American people that Wall Street bankers get it and to show that they understand the need for responsibility and accountability.” – The Hill
- JPMorgan Chase has been lobbying to make exactly the kind of trades that just lost the company billions of dollars. – Edward Wyatt in The New York Times
- JPMorgan Chase’s loss proves the need for bank regulation. – Paul Krugman in The New York Times
- More from Ezra Klein…
- How Wall Street Killed Financial Reform – The fate of Dodd-Frank over the past two years is an object lesson in the government’s inability to institute even the simplest and most obvious reforms, especially if those reforms happen to clash with powerful financial interests. From the moment it was signed into law, lobbyists and lawyers have fought regulators over every line in the rulemaking process. Congressmen and presidents may be able to get a law passed once in a while – but they can no longer make sure it stays passed. You win the modern financial-regulation game by filing the most motions, attending the most hearings, giving the most money to the most politicians and, above all, by keeping at it, day after day, year after fiscal year, until stealing is legal again. “It’s like a scorched-earth policy,” says Michael Greenberger, a former regulator who was heavily involved with the drafting of Dodd-Frank. “It requires constant combat. And it never, ever ends.” That the banks have just about succeeded in strangling Dodd-Frank is probably not news to most Americans – it’s how they succeeded that’s the scary part. – Matt Taibbi | Rolling Stone
PRESIDENT OBAMA / DEMOCRATS————————————————————
The coming issue of Newsweek: Andrew Sullivan on Barack Obama’s Gay Marriage Evolution – The president’s bold support shifted the mainstream. Andrew Sullivan on why it shouldn’t be surprising—Obama’s life as a biracial man has deep ties to the gay experience. [...] To have the president of the United States affirm my humanity—and the humanity of all gay Americans—was, unexpectedly, a watershed. He shifted the mainstream in one interview. And last week, a range of Democratic leaders—from Harry Reid to Steny Hoyer—backed the president, who moved an entire party behind a position that only a few years ago was regarded as simply preposterous. And in response, Mitt Romney could only stutter.
- Majority Agree with Obama on Gay Marriage – A new USA Today/Gallup poll finds 51% of Americans say they approve of President Obama’s stance that same-sex couples should be allowed to marry legally, but 60% say that his shift in position will have no bearing on how they vote in the November election.
- LOL image: internetnewsnetworknetwork
A new two-minute Obama commercial stars steelworkers somberly dismantling Mitt Romney’s record as a job creator at Bain Capital. “I know how business works. I know why jobs come and why they go,” says Romney in the clip. But the veterans of Kansas City’s GST Steel tell a different story of the Bain takeover, which occurred in 1993 and resulted in about 750 people out of work: “They made as much money off of it as they could. And they closed it down,” laments Joe Soptic, a steelworker for three decades. “It was like a vampire,” says another. “They came in and sucked the life out of us.” The extra-long spot has an extended version online at RomneyEconomics.com, and both are packed with soundbites. “It was like watching an old friend bleed to death,” adds one worker. “Bain Capital walked away with a lot of money that they made off this plant. We view Mitt Romney as a job destroyer.” – Steelworkers Slam Mitt Romney and Bain Capital in Harsh New Obama Ad — Daily Intel
Why the ’80/20 rule’ matters – Over the summer, 16 million Americans are going to get some nice checks in the mail from their insurance company, due entirely to the fact that the much-derided health care law is looking out for consumers, not insurers. As the segment explained, folks like getting unexpected money in the mail. When they realize it’s because of Obamacare, maybe the law will start to look a little better in those consumers’ eyes. That checks will hit mailboxes a few months before the election probably doesn’t hurt Obama’s potential benefit, either. It’s also worth keeping in mind these rebate checks will disappear if/when Republicans kill the entirety of the law, replacing it with nothing: “Some House and Senate Republicans are now admitting what’s been obvious from the start: that the Republican vow to ‘repeal and replace’ Obama’s health law has always been a bait-and-switch.” — Steve Benen