Sunday, October 26, 2014

On This Day October 26th

* In Philadelphia the 1st Continental Congress was adjourned in 1774 despite Harry Reid and John Boehner both objecting to each and other's motion to end the session.. << Just kidding about the last part

* The 30 second gunfight at the OK corral occurred on this day in 1881. This despite Tombstone passing an ordinance requiring various weapons be deposited at a saloon or livery stable before entering the city's limits. The gunfight erupted just 10 years after the NRA was founded on Nov. 17, 1871. If this happened today I'm pretty sure what one side of the argument would be.. "See, this is what happens when 'liberals' try to outlaw guns.. then only the bad guys would have them." Which once again goes to prove the more things change, the more they stay the same. We're going nowhere fast.

* Again history repeats. At the present time some are advocating raising the federal minimum wage 38% from $7.25 to $10 an hour. Back in 1949 on this day U.S. President Harry Truman raised the minimum wage over 87% from 40 cents to 75 cents an hour. This despite opposition from Southern conservative members in Congress. The debt to GDP ratio back then was 92%. The ratio steadily declined and by the end of Truman's term in 1953 it was reduced to 68%. Despite the fact the minimum wage hasn't risen since 2007 the ratio now stands around 99%. Hence the argument continues to this day whether raising the minimum wage is a major detriment to the long term debt to GDP ratio. Some will argue debts from wars both then and now play a much larger role.

* On this day in 1993 the executive assistant to former Housing Secretary under Reagan was found guilty of fraud, lying to congress and receiving bribes funneling million$ to well connected Republican political consultants & developers between 1984-1987.. Speaking of which...earlier this month another former HUD worker pleaded guilty in a case of wire fraud totaling $843,000. Neither of these are as glaring as a March 2013 HUD auditor's report finding some $700 million in HUD money targeted for victims of Katrina still couldn't be accounted for. Maybe it's time we change the colors of our flag to red, GREEN and blue. This would not only reflect both sides of the aisle but so too what each have in common between the two of them.

Not to worry I'm sure all of this will finally get straightened out
after the 114th session of Congress convenes on January 3rd, 2015


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