Tag Archives: George H.W. Bush

Melting

President Trump walks to Marine One Friday, October 2, on his way to Walter Reed National Military Medical Center.

“Kennedy deserved to be shot because he was a Catholic!”

My father looked at the old man with the hottest level of anger he could muster in a split second.  All of 30 with a newborn son, my father blurted back at his coworker, “He was our president, you son-of-a-bitch!  No one deserves to get shot!”

It was November 22, 1963, and the news of President John F. Kennedy’s assassination had just spread around the print shop in downtown Dallas where my father worked.  Emotions were already raw, and my father didn’t care that he – a young Hispanic man – was yelling and cursing at a much older White male; in Texas; in 1963.

The antagonism towards Kennedy and the Democratic Party in Dallas and Texas – and throughout much of the Southeastern U.S., for that matter – couldn’t be more palpable on that tragic day.  Even decades later I’ve heard some conservatives say November 22, 1963 was one of the best days in modern American history.  One was a former friend – an openly-gay Jewish man – in 2003.  The rest of us seated with him at a restaurant table after a Toastmasters meeting were stunned.

“Yeah,” I casually responded.  “Just like the day Hitler escorted the first rabbi into a gas oven.”

No one in their right mind celebrates the death or illness of a national leader.  Even as much as I dislike Donald Trump, I’m not happy to know that he’s come down with the dreaded COVID-19 virus.  Late on Thursday night, October 1, news broke here in the U.S. that Trump and his wife have tested positive with the virus.  Earlier this evening, Friday, the 2nd, Trump was escorted to the hospital.  While I’m sure some leftist extremists are thrilled with this development, I see it for the national implication it has.  This poses a serious threat to our national security.

In 1918 President Woodrow Wilson was concerned with the “Great War” (now known as World War I), which was consuming Europe and now involved the U.S., when a mysterious influenza began rampaging across the globe.  Now known simply as the “Spanish flu”, the scourge afflicted some 500 million people and killed an estimated 50 million.  Understand this occurred long before the jet age.  According to historians, Wilson ignored the severity of the health crisis, even as it began taking lives here in the U.S., and vigorously pursued the end of the war.  In April of 1919, he arrived in Paris for peace talks – and left sick with the very flu he never publicly acknowledged.

Once back home, Wilson was quickly sequestered, and White House press reports simply indicated that overworking had caused the president to come down with a cold and a fever.  The Associated Press emphasized Wilson was “not stricken with influenza.”  In the aftermath of the greatest conflict the world had known, the mere thought of the president contracting the dreaded flu surely would have sent the nation into a panic.  So the true nature of his illness was stifled.

Six months later matters worsened for Wilson when he suffered a debilitating stroke.  It’s plausible the flu exacerbated the onset of the stroke.  Wilson never really recovered and would die in 1924.  During the 18 months he had left in his presidential tenure, Vice-President Thomas Marshall should have taken his place.  But, at the time, the vice-president was little more than a figurehead.  In fact, throughout Wilson’s presidency, Marshall later claimed he performed “nameless, unremembered jobs” that had been created solely to prevent him from doing any harm to the nation as a whole.  But, as history eventually revealed, First Lady Edith Wilson served as de facto Commander-in-Chief.  She literally presided over cabinet meetings and other presidential duties; all while hiding her husband’s grave condition.

After Woodrow Wilson’s debilitating stroke in October 1919, First Lady Edith Wilson practically took over his White House duties.

Just less than four years after Wilson endured his stroke, President Warren Harding suffered a similar event – but with fatal consequences.  Harding and his wife, Florence, had just arrived in San Francisco after touring the Alaskan territory when he experienced a heart attack.  Vice-President Calvin Coolidge was at his father’s home in Vermont; a dwelling without electricity or a telephone – not uncommon in rural abodes even by the 1920s.  When word reached Washington of Harding’s death, two Secret Service agents got in a car and drove all night to Vermont to rouse Coolidge.

It’s difficult to imagine that now: a house with no phone and Secret Service agents having to drive to scoop up a sleeping vice-president.  It’s equally unimaginable what allegedly happened in the days following Harding’s demise.  First Lady Florence Harding charged into the Oval Office upon returning to the White House and cleaned out her husband’s desk; apparently removing a number of documents along with personal effects.

Secrecy has always been a part of any presidential administration.  It has to be.  And sometimes it’s mixed with basic respect for an individual’s privacy.  Not until after Franklin D. Roosevelt died, for example, did many Americans learn he had been stricken with polio in the 1920s and was all but bound to a wheelchair.  At the 1940 Democratic National Convention in Chicago, Roosevelt fell as walked to the podium.  Film footage of the event wasn’t released until a few years ago, and most convention-goers remained quiet about the incident.  Footage of Roosevelt being wheeled onto the deck of a military vessel almost remained hidden for decades.

Most Americans weren’t aware of the severity of Dwight D. Eisenhower’s heart attack in the fall of 1955; the White House press initially disguised it as a cardiac event.  As with Roosevelt, the American public bestowed respect for medical privacy upon the president.  But when Eisenhower experienced a mild stroke two years later, some questioned his fitness for office.  By the time he left the White House, he truly looked like the 70-year-old man he was.

Therefore, most Americans were thrilled when John F. Kennedy – the first president born in the 20th century – arrived.  He wasn’t just handsome and charming; he was vibrant and energetic.  Yet not until long after his death did the public learn that Kennedy had become addicted to a variety of pain pills to help him cope with both a back injury he’d suffered in World War II and the effects of Addison’s disease.

Kennedy’s assassination was the first since William McKinley in 1901 and his death the first in nearly 20 years.  It had been a given that the vice-president would succeed the president, if something detrimental happened to the latter.  But, what if something happens to the vice-president?  McKinley’s first vice-president, Garret Hobart, died of heart disease in November 1899.  McKinley didn’t replace him, even though he selected Theodore Roosevelt as his running mate during his 1900 reelection campaign.

The question of succession became urgently relevant on November 22, 1963.  Many people forget that Vice-President Lyndon Johnson was in the same motorcade as Kennedy; a few cars away.  When shots rang out, a Secret Service agent shoved Johnson to the floorboard where the vice-president began complaining of chest pains.  That was kept secret from the public, as a horrified nation needed no further bad news.

Thus, the 25th Amendment to the U.S. Constitution was created.  It established a definite line of succession to the office of the president, beyond just the vice-president.  And it received its first real test on March 30, 1981 when President Ronald Reagan was shot just outside a hotel in Washington, D.C.  Vice-President George H.W. Bush was aboard Air Force Two, returning to the nation’s capital, when a Secret Service agent informed him of the shooting.  Back in Washington chaos rocked the White House, as the country felt the nightmarish echoes of Kennedy’s death.

On March 30, 1981, Vice-President George H.W. Bush sat aboard Air Force Two watching news reports about the shooting of Ronald Reagan.

A junior in high school at the time, I vividly remember the confusion.  While most of my classmates seemed oblivious to the fact the president of the United States had just been shot, I was worried.  The Soviet Union had invaded Afghanistan more than a year earlier and were poised to invade Poland to squelch a labor uprising.  As with rumors about the Kennedy assassination, was this a Soviet plot?  I knew Bush was vice-president, but I didn’t know he’d been in Texas.

I remember Secretary of State Alexander Haig stepping into the White House Press room and announcing, “I’m in control here.”  Haig was criticized later for inserting himself as the interim authoritarian.  But, in a morass of hysteria, someone had to take command!

I also recall my mother sitting before the TV upon returning home from work that evening – and tearing up as news of the shooting spilled out.  It took her back to that tragic autumn day in 1963, as she sat down to watch “As the World Turns” while nursing me, and Walter Cronkite suddenly interrupted to tell of Kennedy’s shooting.

The magnitude of the Reagan shooting didn’t come into full view immediately as news figures couldn’t determine if Reagan had, indeed, been shot.  (It turned out a fragment of a bullet that had hit a car had struck Reagan.)  The White House later concealed the seriousness of Reagan’s health in the aftermath.  Days after the incident, Reagan posed for a photograph; clad in his robe and smiling.  No one knew at the time he was running a high fever and almost collapsed once the picture was taken.

Reports of Donald Trump’s condition continue to flood our news feeds.  We’re now learning that several people within the President’s inner circle have tested positive for the novel coronavirus and that the outdoor ceremony on Saturday, September 26, announcing Judge Amy Coney Barrett to the U.S. Supreme Court, may have been the “super spreader” event.

Trump is now in isolation and being treated for the ailment.  I don’t bemoan that he’s being treated with the most potent medicines available and has a complete medical staff around him.  Whether anyone likes it or not, he IS president of the United States, and his health is extremely important.  I don’t care much for Donald Trump, but I don’t want to see him get sick and die.  I only wish the best for him in this crisis.

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Voodoo You

“It just isn’t going to work, and it’s very interesting that the man who invented this type of what I call a voodoo economic policy is Art Laffer, a California economist.” – George H.W. Bush, Carnegie Mellon University, April 10, 1980

 

I’m frightened for the United States, and it’s not just because of my disdain for our faux president, Donald Trump.  I’m genuinely concerned about what could happen over the next few years.

In the above quote, George H.W. Bush was referring to the plans of fellow Republican and 1980 presidential candidate Ronald Reagan for revitalizing a stagnant U.S. economy.  Then, when Reagan won in most of the primaries, his camp offered Bush the vice-presidential position, and the former Texas congressman shut up about economics.  In 1980, the nation was in a bad financial situation.  The costs of the Vietnam War, coupled with oil embargoes from OPEC nations, had finally taken their toll.  Unemployment stood at nearly 10%; the prime interest rate was 21%; inflation was 14%; home mortgage rates were 17%; and the top marginal tax rate was 70%.  In the second quarter of 1980, the U.S. gross domestic product (GDP) declined by 8%.  By the end of the year, the overall GDP boasted about $3 trillion (in today’s dollars).

With the help of some Democrats in both houses of the U.S. Congress, Reagan was able to generate an agreement that slashed taxes down to 50% on wages, to 48% on corporate income, and to 20% on capital gains.  These measures initially jumpstarted the economy.  Average citizens had more expendable income, which they poured back into the economy by purchasing many so-called big ticket items, like vehicle and electronics.  By 1990, the size of the U.S. economy had grown from $3 trillion to $6 trillion, with roughly 4 million new businesses and 20 million new jobs created.  Although the national debt increased from $1 trillion to $4 trillion during the same period, overall revenues doubled.

Reagan’s economic policies were in line with conservative views on taxation: if we give the “investing class” (meaning, the most affluent) generous tax breaks, they will respond by expanding their businesses or starting new ones, which in turn, will create more products and / or services and more jobs.  Along with reduced business regulations (“job killers” in conservative lingo), average citizens will have more income, which of course, they will pour back into the economy.  Such growth then will expand the tax base; the additional revenue will replace any money lost to the initial tax cuts.

Ask any frustrated project manager and they will tell you that everything always looks great on paper.  While Reagan disciples keep championing his financial moves, the reality is that “Reaganomics” didn’t work out as planned.  One thing people forget is a little thing called the Garn-St. Germain Depository Institutions Act of 1982, which rolled back financial regulations that had been established by the administration of Franklin D. Roosevelt to prevent further damage caused by the 1929 stock market crash and the ensuing Great Depression.  It’s interesting that Bush’s voodoo comment was made at Carnegie Mellon University.  Founded by Andrew Carnegie in 1900 as Carnegie Technical School, it merged with the Mellon Institute of Industrial Research in 1967 to become Carnegie Mellon.  The Mellon Institute had been established in 1913 by brothers Andrew and Richard B. Mellon who, like Carnegie, were self-made businessmen and titans of early 20th century America.  Andrew Mellon served as Secretary of the Treasury from 1921 – 1932, one of the longest tenures for this position.  He created the “trickle-down” economic theory by declaring, “Give tax breaks to large corporations, so that money can trickle down to the general public, in the form of extra jobs.”

But Andrew Mellon is also known for a notoriously rotten hands-off policy with the Great Depression.  The banks that failed had put themselves in such a precarious financial position, he believed, and thus, they were responsible for extricating themselves from it.  It didn’t seem to matter that these bank failures took people’s money with them; therefore, amplifying the effects of the 1929 crash.

Still, President Reagan – like any good fiscal conservative – held onto these beliefs and eagerly signed the Garn-St. Germain bill.  That reduced the number of regulations on financial institutions and allowed them to expand and invest more of their customers’ deposits in various ventures, particularly home mortgages.  Again, that looks-great-on-paper ideology swung back around to bite everyone when the Savings & Loans Crisis erupted.  Between 1986 and 1995, 1,043 out of the 3,234 savings and loan institutions in the U.S. failed; costing $160 billion overall, with taxpayers footing $132 billion of it.  It was the worst series of bank collapses since the Great Depression.  That led to the 1990-91 Recession, the longest and most wide-spread economic downturn since the late 1940s.  I started working for a large bank in Dallas in April of 1990 and saw the S&L crisis unfold in real time.

Nonetheless, trickle-down economics saw a rebirth with George W. Bush, as his administration further deregulated the banking industry and also deregulated housing.  Combined with the costs of wars in Afghanistan and Iraq, the U.S. economy almost completely collapsed at the end of 2008.  The 2007-08 Recession was the worst economic downturn since the Great Depression.  Unemployment reached double digits for the first time since the start of the Reagan era, as millions of citizens lost their homes and their savings.  Had it not been for such programs as the Federal Deposit Insurance Corporation (the FDIC, established by Roosevelt), we surely would have plunged into another depression.

Now, with Donald Trump in office, I fear we’re headed for the same morass.  On December 22, 2017, Trump signed the Tax Cuts and Jobs Act; the largest overhaul of the U.S. tax code in 30 years.  Financial prognosticators have already forecast the act will raise the federal deficit by hundreds of billions of U.S. dollars over the next 10 years.  The law cuts individual taxes temporarily, but cuts corporate tax rates permanently.  As suspected, the most affluent citizens will benefit greatly, as they experience a significant reduction in their taxes.  The rest of us lowly peons may see a tax increase after those temporary provisions expire in 2025.

You know that classic definition of insanity?  Doing the same thing over and over, while expecting different results.  It’s more like, well, if you keep doing stupid shit, stupid shit will keep happening!

Ignore Russia-gate for a moment and the fact Melania’s side of the First Bed is colder than a Chicago winter.  This past week Trump visited the World Economic Forum (WEF) annual meeting in Davos, Switzerland.  This is where the most elite members of the business world meet (conspire) with leaders of developed nations to create economic policies and decide what’s best for us peons.  Kind of like evangelical Christians often meet to decide what people should see and read.  They’ve set themselves up as the righteous few; the ones who supposedly understand exactly what works and what doesn’t and are divinely compelled to bestow such knowledge upon the rest of us.

Trump ran his presidential campaign on the wave of anti-Washington sentiment; appealing to average citizens about reviving a once-lost “Great America” with a variety of clever ruses: ban Muslims, build a wall along the Mexican border, etc.  So many people, of course, bought into it.  Like Ronald Reagan, Trump was able to tap into that sensitive nerve of everyday angst; spitting out a slew of quaint buzz words to appeal to average folks.  He had said he would never take part in a WEF convention.  Yet, there he was; leading a parade of those self-righteous few into another kind of revitalization: the Gilded Age.

I doubt if most Trump voters even know what Davos means and how it could impact their lives.  Understand, though, that Switzerland is a place where Hollywood celebrities often went for a retreat or a little vacation – code words for cosmetic surgery; long before Phyllis Diller made it openly acceptable.  That’s essentially what Donald Trump did this past week.  He flew to Davos to tell the world, “America first is not America alone.”

I’m frightened for the United States.

 

Image: Golden Spike National Historic Site, Utah.

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