Hey NBC & WSJ–What’s With Your Poll Report?

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Today NBC and the Wall Street Journal released a new survey conducted by the polling company Hart/McInturff.  MSNBC.com’s deputy political director, Mark Murray writes,

The GOP’s ‘likely’ advantage

In the survey, 50 percent of likely voters say they prefer a Republican-controlled Congress, versus 43 percent who want Democrats in charge.

Last month, Republicans held a 46 percent to 43 percent advantage among likely voters on this question.

The GOP’s current seven-point lead, McInturff observes, is on pace — historically — to result in a shift of power in Congress. “The Democrats, with two weeks left, are facing very, very difficult arithmetic.”

Yet among the wider universe of registered voters, Democrats hold a two-point edge, 46 to 44 percent, which is up from the 44 percent to 44 percent tie in September.

But Hart calls that lead “hollow,” because not all registered voters will participate, especially in a midterm election.

Indeed, among those expressing a high interest in voting this midterm season, Republicans hold a 13-point advantage on the generic ballot, 53 percent to 40 percent.

So, as I often do, I clicked on the link to the published survey results and read it through looking for the results described in the article.  First time through I thought I missed this 50% to 43% advantage of the Republicans over the Democrats.  So I read it again, now looking line by line where that percentage comparison came up.  I couldn’t find it.  Okay, so one more time, very deliberately reading through the survey.  Nada.  What I did discover were two very interesting questions that belie a different mood in the electorate.

Keep in mind this was a survey of 1000 registered voters, which, as I have explained in previous posts, I hold to the theory that registered voters provide a more reliable sample and predictor of which way the election is more likely to go.  In two weeks we’ll know.

Let’s look first at question Q11a:

Q11a:   What is your preference for the outcome of this year’s congressional elections — (ROTATE:) a Congress controlled by Republicans or a Congress controlled by Democrats?

The result favors the Democrats 46% to Republicans 44%. That is mentioned in the quote above.  It’s also within the published margin of error of +/- 3.10%.  One could say, therefore, it’s a wash, but there is some interesting info in the trends.  The median (the midpoint of the 11 surveys NBC/WSJ has conducted since January 2010 for the Republicans is 44% and the Democrats, 43%.  Now that is tight!  The slope of those eleven surveys for this question is also small, 0.21% for the GOP and 0.25% for the Dems.  Not what you might write home about.  But still, when you apply those numbers to tens of millions of voters, small changes can make the difference.  It also shows that the Democrats are perhaps not in quite as bad a shape as the pundits have been droning on about month after month.

But there is more.  Question Q12A reads:

Q12a: If you had the choice in your congressional district, would you be more likely to vote for a (ROTATE:) Republican, Democratic, Libertarian, or  Green Party candidate for Congress?

Since the smaller party candidates are at best wild cards, we can’t make a prediction if those who claim affiliation will actually vote for them.  But here, we find the responses again favor the Democrats over the Republicans, 44% to 41%.  Unfortunately, the survey does not provide the historical results of this question.

If you have looked at the published survey results, you might have noticed a number of questions are missing.  So, we can perhaps infer that NBC and the WSJ decided the most interesting information in the survey they wanted to keep to themselves, which is their prerogative since they paid for it.  And perhaps that 50% Republican advantage is among those survey items that were, shall we say, redacted.  But if the Democrats are in such dire shape going into the election and the survey shows that is very clear, why bother with cutting questions out of the published report?  Wouldn’t a reasonable person, or especially a partisan one, such as the Wall Street Journal’s clear editorial preference for Conservatives, want that information right there for everyone to see?  I can’t answer that question, but I do find it perplexing.

Nevertheless, there is enough information to ponder the strength of the GOP’s “surge” as reported.  My updated graph with the trend lines still shows the Democrats in a stronger growth curve:



Registered Voters Surveys 18 Oct 10. Data Courtesy HuffPost Pollster

I will be eagerly looking forward to the next batch of polls to be released.  Each data point provides a world of information about might or can happen on November 2nd.

A Recession Forty Years in the Making–Updated

This Great Recession  Didn’t Happen by Magic…My Rant

The Sniffer Returns. Photo Courtesy: Smith Detection UK

When last the Sniffer’s image appeared here on Extreme Thinkover, he (well, I think he’s a he) was celebrating the passage the the health care reform act, having sniffed out the “radiation” of American Health Insurance Providers and other members of Big Medicine’s failed assault against the legislation, spending undoubtedly hundreds of millions of their subscribers’ dollars in the process.  That money was intended by those who paid it, whether it was the funds directly from the insured or their employers, to pay for health care not to pay lobbyists and advertising to defeat every effort and piece of legislation devised to make it better.  Fortunes spent without consent.  A cruel form of taxation without representation.

We will probably never know how much money Big Medicine squandered in their complete and total defeat, as the benefits of health care for all Americans already taking effect, item by item, promises a future of access to medical care that for over two centuries we have never had the right and many have been denied by sheer accident of their socioeconomic status or a simple preexisting condition.

Now we have the right.  Obviously, we should be celebrating, right?  Right?

Political Memory Distortion

Some of our citizen sisters and brothers continue to snort and paw like an angry bull over the fact that they now have to participate in a society that cares for the medical needs of  all its citizens (joining finally nearly every other First World nation and many others), not just as country that rewards those who would hoard their worldly goods as if none of those around them had any role in the accumulation of that wealth.  In their anger, from distorted recollections of an earlier geopolitical battles, they call it socialism, an incoherent misunderstanding of that term in the history of political systems.  It is not socialism.

A Republic’s Highest Value

To the contrary, it is the highest value of a democratic republic: Sharing.  It is that simple.  In a democratic republic, one of the blessings of liberty is sharing.  To treat another as you would want to be treated.  We are now a large nation, over 300 million people and growing.  The day of a flat birth rate has passed.  It takes a lot of organizational structure to insure that the ideals and the order of a democratic republic are nourished over time.  It cannot be done by stinginess, or by isolationism.  The age of the Rugged Individualist has passed.  We now are connected in ways even those of us in our middle age could not dream of.  We now live in a shared world, a shared connectivity at the speed of light, the evolution of human ingenuity turned up on high, the 20th Century a platform for the 21st.

Equality consists in the same treatment of similar persons–Aristotle, 384-322 BCE.

Most of all it cannot be done by refusing to share in such a way that those with the most are continuously provided with more through no merit of their own, denying the dreams of those in the middle to improve their lot in life, it too a blessing of liberty, and effectively squelching the chance of those at the lowest rungs of life from ever daring to dream that those above them might welcome them to take those steps and dream those dreams out of their poverty.

The right to achieve prosperity in a democratic republic is not the exclusive right of those who have already achieved it through their own effort or inheritance.  At the same time, those who have achieved prosperity have no right to hoard their prosperity so that those who are trying to achieve it as well are denied their right to share in its blessings, regardless of their beginning station in life.  With all due diligence those who are prosperous must ensure that the efforts of those who desire to be so as well are rewarded and their growing prosperity welcomed.  But because human beings all have differing gifts, desires, capacities, and health, a democratic republic can exist living by its highest ideals when the prosperity of the whole also ensures the rights of the whole.

Rant complete.

An Unexpected Proof of Concept: 40 Billionaires’ Pledge

What I wrote in the previous paragraph is not just a flight of fancy or a theoretical construct that never would be tried by the very most prosperous people in our country.  On August 4, 2010, the foundation begun by billionaires Warren Buffet and Bill Gates announced that 40 billionaires have so far pledged to give away at least half of their fortunes during their lives or at their death.  Called The Giving Pledge, the list is available publicly online and, according to Buffet and Gates, this is only the beginning of their project.  For instance, the Wall Street Journal reported one of the pledger’s rational:

In an interview, Tom Steyer, founder of hedge fund Farallon Capital Management LLC in San Francisco, said he and his wife had planned to give away their wealth but decided to go public after Mr. Buffett called.

Mr. Steyer made the pledge to support what he sees as an effort by Mr. Buffett to show how those who profit from capitalism can help improve society.  “We want him to succeed in reshaping the way people think about the private enterprise system,” Mr. Steyer said.

MSNBC reported that the United States has about 400 billionaires, some 40% of the world’s total, and their net worth is estimated at $1.2 trillion.

Some of the billionaires have a very specific goal in mind for their pledge.  George Lucas, filmmaker and creator of the vast Star Wars empire stated,

“My pledge is to the process; as long as I have the resources at my disposal, I will seek to raise the bar for future generations of students of all ages,” filmmaker George Lucas said. “I am dedicating the majority of my wealth to improving education.”

Finally, Warren Buffett co-founder, remains ever the optimistic example for First Citizen in our democratic republic:

“We contacted between 70 and 80 people to get the 40. A few were unavailable. We don’t give up on them. Every saint has a past, every sinner has a future. We’ll keep on working,” Buffett said.

Thank you, Mr. Buffett and Mr. Gates.  You get it.  But we are not done here…

So What Next: A Recession Four Decades in the Making

How bad is it?  Ironically, out of the past a major player has come to the horrified realization that the policies of the past forty years, in which he played a major role, beginning with the disgraced Richard Nixon, set in motion the recessionary calamity we are trying to survive.

David Stockman, who was the director of the Office of Management and Budget under the evangelist of  “trickle down economics” and the fomenter of the doctrine that all government is essentially bad, Ronald Reagan, wrote these words published in the New York Times:

Republican pretense that its new monetarist and supply-side doctrines are rooted in its traditional financial philosophy. Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.

This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.

Although I politely disagree with Mr. Stockman’s criticism of Keynes, arguing as would Paul Krugman, Nobel Prize winning economist, that had Keynes’ economics been followed, instead of Reagan’s supply side fantasy, we might have avoided some of the damage Mr. Stockman places right at the door of the Republicans, who claim they want more of the same.

As our nation moves along the unstoppable path of time toward the General Election in November of this year, Mr. Stockman’s accusations against his own party are even more troubling.  He continues:

But in the end it was a new cadre of ideological tax-cutters who killed the Republicans’ fiscal religion.  Through the 1984 election, the old guard earnestly tried to control the deficit, rolling back about 40 percent of the original Reagan tax cuts. But when, in the following years, the Federal Reserve chairman, Paul Volcker, finally crushed inflation, enabling a solid economic rebound, the new tax-cutters not only claimed victory for their supply-side strategy but hooked Republicans for good on the delusion that the economy will outgrow the deficit if plied with enough tax cuts. (Emphasis added)

Delusion or Voodoo Economics: Your Choice

Dr. Krugman, however, agrees with Mr. Stockman on one major point: tax cuts will not help our economy outgrow the deficit now, any more than they did by the time Ronald Reagan left office in 1989.  Earlier this  month, also in the New York Times, Dr. Krugman wrote:

Now there are many things one could call the Bush economy, an economy that, even before recession struck, was characterized by sluggish job growth and stagnant family incomes; “vibrant” isn’t one of them. But the real news here is the confirmation that Republicans remain committed to deep voodoo, the claim that cutting taxes actually increases revenues.

It’s not true, of course. Ronald Reagan said that his tax cuts would reduce deficits, then presided over a near-tripling of federal debt…

But we’re talking about voodoo economics here, so perhaps it’s not surprising that belief in the magical powers of tax cuts is a zombie doctrine: no matter how many times you kill it with facts, it just keeps coming back. And despite repeated failure in practice, it is, more than ever, the official view of the G.O.P. (Emphasis added).

Are we at an impass: Yes.  I have done a lot of counseling during my career and one thing I have seen dozens of times is that a person who is suffering a delusion is not aware of the distortion of reality that is affecting them.  Voodoo, and I will place it squarely in the Hollywood horror genre’ and not the religion of many who live in and around the Caribbean, and the image of zombies, plays on our deep fears of somehow having our dead bodies overtaken and made to do nasty things to, well, anyone, but, in this instance screaming attractive American teenagers.

In terms of economics, the accusation of either, is to say something is deeply wrong, but we know that.  What we are suffering from, is the gathering force of economic distortions that have gathered for forty years.  Forty years.  How many really smart people, in both parties, noticed this, and said exactly nothing?  Was it delusions or voodoo?  How could that be, though?  The delusional cannot recognize their delusions, and the zombie’s revivified by voodoo do not know they aren’t supposed to be in that very state.  Does that mean there are not any really smart people left in either party who can figure it out?  A tantalizing question to ponder, I admit, but the answer is no.

If the Answer is “No,” What was the Question, Again?

The question, in the end, is not whether there were smart people following the economy for the last forty years; there were.  The question is how over forty years did nobody get it?  Since Richard Nixon brought the Union to its knees politically and economically, hundreds of economic models have been built, hundreds rejected because they didn’t work.  Computer modeling has entered the 21st Century–Economists of all stripes have access to these computers and run probably terabits of data through them to test the accuracy of their latest theory.

And yet we wallow in the debris of a Recession still threatening our national prosperity and influence, whose roots are easily traced to forty years ago.  This is a topic that must be more closely examined in the months ahead as the election approaches.  I think the Sniffer has a new assignment.