Ross Perot calls for “action this day”
June 16, 2008
Don’t count out Ross Perot.
The former presidential candidate has stepped into the spotlight again with the launch of a new Web site on “government fiscal irresponsibility.”
Think of it as a place for him to keep his economic charts - the ones he became famous for using in his campaigns for the presidency, including the 30-minute television timeslots he bought (like this one in October 1992).
In a welcome video on PerotCharts.com, Perot says gravely - in his Texas drawl - “We live in the greatest country in the history of man. We’ve been so successful for so long that we now take our success for granted. Not since the Great Depression have we seen an economic crisis of the magnitude that we are facing today.”
Much of his attention focuses on the national debt, which he says is growing by more than $1 billion each day. Mandatory spending programs such as Social Security and Medicare, he says, are only going to get costlier as the Baby Boomer population ages. Perot asserts that unless we solve these fundamental issues, the country won’t be able to meet future challenges.
In case you begin to feel downtrodden about the wealth of information the billionaire shares, he notes: “The good news is that Americans are resilient and resourceful, and have always responded unselfishly in a crisis.”
To view his Web presentation, “Suicidal Spending,” click here.
JACKIE SAUTER, Web Editor
Sphere: Related ContentThe value of ocean air
May 22, 2008
While doing the reporting for today’s story on Ocean City’s summer tourism expectations, I learned about — and experienced — something I’ve come to call the “ahhhh” phenomenon.
It’s that feeling you get when you cross the Bay Bridge and get to the Eastern Shore. (That is, unless you are sitting in beach traffic, in which case you are probably experiencing a different phenomenon I can’t repeat here.)
Maybe it’s the thrill of knowing you can top off for at least 10 cents a gallon cheaper in Easton or Cambridge. Maybe it’s the sprawl of farmland and low, unassuming buildings. Or the quiet produce stands that come to life during the summer weekends with smells of berries, fresh produce and the occasional fresh baked apple pie.
Or maybe it’s just the fact that I grew up about an hour’s drive from a beach (albeit a cold one), and it makes me think of being a kid.
Whatever the reason, there’s a sense of peace and ease that’s unique to that part of our state. People make eye contact with you as you pass by on the street, drivers on the roads suddenly keep an appropriate distance from one another other and remember to use their turn signals, and the odds of getting a tan by mid-May are pretty good.
But I’m wondering with the economic climate the way it is today, will the “ahhhh” phenomenon still be enough to draw people out this summer to let off some steam? Or will the squeeze at the pump — and at home — convince people that staying put is less stressful?
Where are you getting your “ahhhhs” this summer?
LIZ FARMER, Business Writer
Sphere: Related ContentAlarming news from the AARP
May 13, 2008
The ‘economic downturn’ isn’t just causing grown children to ask their parents for financial help - but often the other way around.
One in ten baby boomers are borrowing money from family, friends or charities for living expenses, the AARP reports. (Still, more boomers are helping their kids (4 in 10) or a parent (8%) than asking for help themselves.)
Here’s the scarier finding: One-third of the boomers (over 1,000 were surveyed) said they’ve stopped putting money into their retirement account, while 14% had to cut back on their medications. A nurse in Salisbury, Md. told the AP that patients have cut back on appointments to save the co-pay.
From the story:
While the survey doesn’t show large numbers of people making radical changes — taking second jobs or moving to a smaller home — it did find that more than one-quarter of those surveyed are having trouble paying their mortgage or rent.
Compared with older people, a greater percentage of younger baby boomers, those 45 to 54, said they were cutting back on medications, prematurely withdrawing retirement funds and postponing paying bills.
“For the younger boomers, it’s been an especially rude wake-up call,” said Jim Dau, a spokesman for the AARP, a nonprofit that advocates Americans 50 and older.
JACKIE SAUTER, Web Editor
Sphere: Related ContentMiddle class America gets beat down
April 10, 2008
Who do you blame for your economic problems?
The government?
The price of oil?
Foreign competition?
Society at large?
That’s where members of the middle class pointed fingers, according to a new survey by the Pew Research Center.
It found that many middle-class Americans say they aren’t better off than they were five years ago - but there’s no clear consensus on who (or what) is to blame.
Among people with household incomes between $40K and $100K, 26% said they hadn’t made progress in the last five years, and 28% said they’d fallen behind.
“It’s been a lousy run for the American economy and people feel it,” said Paul Taylor, director of Pew’s Social & Demographic Trends project and lead author of the study.
… Middle-class people also may be disproportionately feeling the pinch because they tend to borrow more heavily against their homes to support their lifestyles, Taylor said.
One of the most unifying findings isn’t surprising: nearly eight in 10 people said it’s more difficult to maintain their standard of living compared with five years ago.
Are you feeling this “pinch,” between the high cost of food and higher fuel prices? Or are middle class Americans just a bunch of complainers?
JACKIE SAUTER, Web Editor
Sphere: Related ContentChrysler: “Don’t write off minivans”
March 6, 2008
On its media blog this week, beleaguered carmaker Chrysler points out that the once ubiquitous transport of choice for soccer moms and dads everywhere, the minivan, might not be a very sleek or sexy choice compared to other offerings, but it is still a “big hit” with consumers.
So what if minivan sales are down 18 percent. That’s no reason to put the kid haulers down for the count.
Chrysler’s manager of sales, service and dealer communications urges people to, “think twice before buying into the conventional wisdom. The truth reveals itself when you dig a little deeper.”
As proof, he offers:
-The new Chrysler Town & Country long wheel base model has increased at retail more than 75%, and the new Dodge Grand Caravan has increased more than 25%.
-The total reduction in minivan sales is because of “planned fleet reductions” - not any wishy-washy consumer trend. In fact, consumers are demanding more minivans.
Will ’08 see a resurgence of minivan sales, or will they get plowed under by hybrids, cross-over sport utes, or still-strong-selling big SUVs like Land Rovers and Escalades?
BEN MOOK, Assistant Business Editor
Sphere: Related ContentShould Maryland have a state stimulus plan?
March 5, 2008
Some states aren’t waiting for the federal government’s economic stimulus package to try to boost their economies - they’re taking matters into their own hands, the AP reports.
Pennsylvania Gov. Ed Rendell proposed a one-time tax rebate for lower-income working families and is thinking about increasing job-creation tax credits for businesses. In Illinois, Gov. Blagojevich wants to sell off sources of future revenue - such at the state’s share in a tobacco settlement - to give families tax breaks. And in Connecticut, rebate checks, rental and heating assistance are on the table.
Now, these proposals may not become reality, and funding a state stimulus plan could mean less dough for the state’s operating budget; based on news from Annapolis today, Maryland’s is already in dire straights.
Regardless, do you think lawmakers in Maryland should be floating some of these proposals?
JACKIE SAUTER, Web Editor
Sphere: Related Content-
Business
Business postsLaw
Law postsRecent Posts
- In the market for a (used) car?
- DNA: What are the odds?
- Three Restaurant Weeks ahead
- Can the city support an NBA or NHL team?
- What’s in a name?
- A foot-stompin’ good time
Recent Comments
- Anonymous: Yes - Harry Johnson!
- Jeff: Of course it can’t. NBA ticket prices are outrageous, and the NHL isn’t any better. (Plus, it...
- Publicus: No.
- Aequitas: There are certainly many types of cases where some (but not necessarily all) people would...
- Anonymous: I think the recent rise in wine festivals is due to ever-increasing alcohol abuse. For some reason,...