Last month a new Gallup Poll confirmed that the two greatest fears on the minds of Americans are terrorism and the national debt, the first time debt has shared that status with terrorism. Then, just last month Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff was quoted as saying he thought the level of national debt is our "biggest national security threat" (for a full report go to http://toledoblade.com/apps/pbcs.dll/article?AID=/20100710/OPINION02/7100335). At the current level of $13+ trillion and rapidly growing to perilously equal our total GDP of $14.6 trillion, this subject is beginning to gain more and more public attention. Senator Everett Dirksen who famously mused that "a billion here, a billion there and pretty soon you're talking about real money" must be turning over in his grave, as "trillion" had not even entered our budget lexicon in his day. The question is what do we do about it?
In order to answer that question, I think it is important to actually know the facts about our debt and the true threat it poses. Besides the link above, you can learn much more at two of many informative sites including http://usdebtclock.org where you can watch a dizzying array of debt clocks ticking off in real time not only the actual national debt but other debt obligations as well, and The Concord Coalition's excellent website http://concordcoalition.org which further links you to several in-depth related debt reports. In essence, while our national debt has almost tripled in less than 15 years to levels heretofore never seen, it is the speed with which it is now rising that is causing alarm, as it suggests that it may be surpassing the ability of our economy's growth to absorb such accelerating debt, particularly when coupled with the state of the world economy following the financial crisis of 2008. At the current level of some $45,000 per every man, woman and child in America, it is not rocket science to figure out that this level of debt growth is unsustainable and will plague our children and grandchildren for decades if not fixed.
So, what to do? Fortunately, an eighteen member independent and bi-partisan commission known as The National Commission on Fiscal Responsibility and Reform has been formed to study this issue and submit a report containing their recommendations to Congress by December 1st of this year for a subsequent vote. While everything is on the table for consideration, one of its co-chairs, former Republican Senator Alan Simpson from Wyoming, has no illusions for success and has even classified it as "a suicide mission for two old goats". The other old goat is Erskine Bowles, former Chief of Staff under President Clinton, who helped balance the budget in 1997, and is the current President of the University of North Carolina. Senator Simpson was a guest on NPR's Talk of the Nation program along with Ted Koppel this past April, and was very candid about the problem, possible solutions and the many challenges including rank politics. You can go to http://www.npr.org/templates/story/story.php?storyId=125461033 and hear the entire program.
In short, his view is that we got in our present predicament beginning with two unfunded wars, the first time in our history, which was then exacerbated by tax cuts. Then, there is the fact that 6% of our population pays 85% of the taxes while 43 million pay no tax at all. Add to that the sweetheart deal that taxed many of the ultra high income hedge fund gurus at the 15% capital gains rate rather than at the marginal personal income tax rate, and it's easy to see how our government pocketbook got squeezed. That's the income side. On the expense side, it's the 800-pound gorillas of Social Security, Medicare and Medicaid that have to be addressed, because even if you substantially reduce discretionary spending like education, transportation, defense, homeland security, foreign aid, and earmarks together with waste, fraud and abuse they only account for a relatively small percentage of our budget. Consequently, when Senator Simpson pledges that there will be no "sacred cows" I suspect we all recognize what three of the big ones will be.
Once you filter through these basic elements of the conversation on the national debt, what are some specific proposals that have been bantered about to solve this problem? In no particular order of importance, and with their own associated consequences, they include raising taxes, imposing a debt reduction surtax, eliminating services, printing more money, growing our way out, putting more people to work, seeking debt forgiveness and making voluntary donations to reduce the debt. That last idea actually had legs in the 1980s but lost steam when the federal government began running a surplus in the 1990s. So, short of holding out a national tin cup, what are your solutions?
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
Sunday, July 11, 2010
Sunday, July 4, 2010
"Independence Day (not the movie)"
Today, as on every 4th of July, we celebrate one of our nation's most important holidays, Independence Day, in a variety of fun ways which almost always include the three F's - family, friends and fireworks. But I wonder how often we stop and consider the history of this date and what price was paid by our forefathers to give us all of the freedoms and liberties we now take for granted.
While it would be very easy to default to the conventional high points taught in American History classes throughout the educational process, it wasn't until I read David McCullough's marvelous Pulitzer Prize winning book "1776" several years ago that I realized how fate, weather, incompetence, poor decisions, providence and luck played such crucial roles in our quest for freedom. Essentially, our revolutionary war was fought by a poorly equipped ragtag group of civilians with little or no formal military training under the bleakest and most challenging of circumstances. In addition its commander-in-chief, George Washington, had never even led an army in battle. But, fortunately, he possessed extraordinary leadership qualities including the ability to listen to his charges and adjust course of action as the situation dictated. To further complicate matters, it was not a universally popular endeavor, as many citizens from all walks of life formed the Loyalists who considered themselves true patriots in their strong support of the King of England. However, the one thing our Continental Army did share was a uniquely "American" spirit fed by boundless determination and endless courage on which General Washington declared on July 2, 1776, "The fate of unborn millions will now depend......"
One other aspect of our fight for independence that struck me in reading "1776" was the similarity of some of those experiences to World War II, starting with the massive size of the 400 British ships that converged in New York harbor in the summer of 1776 and how that armada, while smaller in number, was relatively comparable at the time to the enormous size of the US naval forces that landed on the beaches of Normandy in 1945. Then there was the movement of the 9,000 troops, equipment, horses and supplies out of Brooklyn following the Continental Army's first big defeat on August 27, 1776, which was not unlike the dramatic evacuation of 340,000 men from Dunkirk in May of 1940. In the first instance weather in the form of a heavy fog aided its success while the latter was made possible by the sudden halt of the advancing German panzer troops who were only fifteen miles away. That decision has been labeled Hitler's first major mistake of the war and still remains a mystery. I guess the point is that all wars have their common threads, twists and turns determined by a multitude of unexplained events and circumstances.
But it is not war that we are celebrating today. Rather, it is about the numerous unbridled freedoms that we Americans enjoy which still shine as the beacon of hope around the world. Simply put, the American Spirit of 1776 still exists making us the magnet for oppressed people from all parts of the globe. God help us if that ever changes. So, take pride in those freedoms and liberties, learn more about the many aspects of this amazing Independence Day holiday you probably have never even thought of at http://www.usa.gov/Topics/Independence_Day.shtml and have a safe and Happy 4th of July!
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
While it would be very easy to default to the conventional high points taught in American History classes throughout the educational process, it wasn't until I read David McCullough's marvelous Pulitzer Prize winning book "1776" several years ago that I realized how fate, weather, incompetence, poor decisions, providence and luck played such crucial roles in our quest for freedom. Essentially, our revolutionary war was fought by a poorly equipped ragtag group of civilians with little or no formal military training under the bleakest and most challenging of circumstances. In addition its commander-in-chief, George Washington, had never even led an army in battle. But, fortunately, he possessed extraordinary leadership qualities including the ability to listen to his charges and adjust course of action as the situation dictated. To further complicate matters, it was not a universally popular endeavor, as many citizens from all walks of life formed the Loyalists who considered themselves true patriots in their strong support of the King of England. However, the one thing our Continental Army did share was a uniquely "American" spirit fed by boundless determination and endless courage on which General Washington declared on July 2, 1776, "The fate of unborn millions will now depend......"
One other aspect of our fight for independence that struck me in reading "1776" was the similarity of some of those experiences to World War II, starting with the massive size of the 400 British ships that converged in New York harbor in the summer of 1776 and how that armada, while smaller in number, was relatively comparable at the time to the enormous size of the US naval forces that landed on the beaches of Normandy in 1945. Then there was the movement of the 9,000 troops, equipment, horses and supplies out of Brooklyn following the Continental Army's first big defeat on August 27, 1776, which was not unlike the dramatic evacuation of 340,000 men from Dunkirk in May of 1940. In the first instance weather in the form of a heavy fog aided its success while the latter was made possible by the sudden halt of the advancing German panzer troops who were only fifteen miles away. That decision has been labeled Hitler's first major mistake of the war and still remains a mystery. I guess the point is that all wars have their common threads, twists and turns determined by a multitude of unexplained events and circumstances.
But it is not war that we are celebrating today. Rather, it is about the numerous unbridled freedoms that we Americans enjoy which still shine as the beacon of hope around the world. Simply put, the American Spirit of 1776 still exists making us the magnet for oppressed people from all parts of the globe. God help us if that ever changes. So, take pride in those freedoms and liberties, learn more about the many aspects of this amazing Independence Day holiday you probably have never even thought of at http://www.usa.gov/Topics/Independence_Day.shtml and have a safe and Happy 4th of July!
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
Sunday, June 27, 2010
"One of a Kind"
In exactly four days I will pass through a life-changing threshold which most people enthusiastically look forward to - RETIREMENT! To say that this event does not come without a tad bit of anxiety would be an understatement, even though its time has definitely come for a variety of reasons, not the least of which has been attending way too many funerals for friends over the past couple of years. At this juncture in my life it would be very easy to become reflective and recall many incidents from the past that have shaped who I am, but that could become very tedious and boring. Also, it would be easy to fall prey to the temptation of discussing that well known "bucket list" of things to do, but Jack Nicholson and Morgan Freeman seemed to have covered that subject in their classic 2007 movie by the same name. Just let me say there is a whole host of things on mine.
Instead, I would rather focus on the last 34 years of my long working life which began at age ten working for my father, and which was celebrated just this past Friday night with a lovely retirement dinner hosted by my two long time business partners. This latest and longest segment of my working life actually had its genesis over sixty years ago with my old and dear friend, Charlie, with whom I grew up two streets over in the same neighborhood. In addition we went all through grades one through twelve, except for two junior high years when a new school split us, and then we both graduated from college together. It was also Charlie and his wife who introduced me to my wife, Nancy, forty-five years ago. So, there was a deep personal history with one of those partners long before we went into business together where Charlie's vast experience in the financial world became critical. Then there is Jim who I first met through Charlie in 1976 when they both were looking for someone to help them manage their real estate holdings on a part-time basis. Our association began on a small scale early that year but exploded in December with some major acquisitions that required full-time help. Jim was the older of the three and, as such, brought his keen knowledge of construction and mature judgment to the many critical decisions we made. I just had the time.
In discussing the history of our joining together last Friday, we all agreed that it has been a truly unique and wonderful partnership that has certainly passed the tests of time and trust. Charlie and Jim had their respective business interests and pretty much left the day to day operations up to me with little or no interference. Over these past three and a half decades our comfort level with one another, as well as mutual appreciation and respect for what each of us brought to the table, only grew and grew. During this time there has never been any major disagreement or unpleasantness, even though there have been some real challenges including the 1980's savings and loan crisis when interest rates exceeded 17%.
So, it is with some degree of sadness and nostalgia that I think that this business relationship will end next Thursday, July 1st, because I will sincerely miss being associated with my partners of these past 34 years which has passed in the blink of an eye. In short, I want this to be a tribute to Charlie and Jim who have not only been wonderful business partners but great personal friends over these many years. Thanks, guys, for all you have done for and meant to me, for hosting our farewell dinner and for making our experience together truly "one of a kind".
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
Instead, I would rather focus on the last 34 years of my long working life which began at age ten working for my father, and which was celebrated just this past Friday night with a lovely retirement dinner hosted by my two long time business partners. This latest and longest segment of my working life actually had its genesis over sixty years ago with my old and dear friend, Charlie, with whom I grew up two streets over in the same neighborhood. In addition we went all through grades one through twelve, except for two junior high years when a new school split us, and then we both graduated from college together. It was also Charlie and his wife who introduced me to my wife, Nancy, forty-five years ago. So, there was a deep personal history with one of those partners long before we went into business together where Charlie's vast experience in the financial world became critical. Then there is Jim who I first met through Charlie in 1976 when they both were looking for someone to help them manage their real estate holdings on a part-time basis. Our association began on a small scale early that year but exploded in December with some major acquisitions that required full-time help. Jim was the older of the three and, as such, brought his keen knowledge of construction and mature judgment to the many critical decisions we made. I just had the time.
In discussing the history of our joining together last Friday, we all agreed that it has been a truly unique and wonderful partnership that has certainly passed the tests of time and trust. Charlie and Jim had their respective business interests and pretty much left the day to day operations up to me with little or no interference. Over these past three and a half decades our comfort level with one another, as well as mutual appreciation and respect for what each of us brought to the table, only grew and grew. During this time there has never been any major disagreement or unpleasantness, even though there have been some real challenges including the 1980's savings and loan crisis when interest rates exceeded 17%.
So, it is with some degree of sadness and nostalgia that I think that this business relationship will end next Thursday, July 1st, because I will sincerely miss being associated with my partners of these past 34 years which has passed in the blink of an eye. In short, I want this to be a tribute to Charlie and Jim who have not only been wonderful business partners but great personal friends over these many years. Thanks, guys, for all you have done for and meant to me, for hosting our farewell dinner and for making our experience together truly "one of a kind".
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
Sunday, June 20, 2010
"Grandi Patri"
Six weeks ago we devoted our Sunday to the great mothers of the world, and showered them with our thoughts and attention. Today, it is the fathers' turn. How better to start than to remember my own father who died just last year at the ripe old age of 98. Dad was one of those hard working individuals who began each day at 4:00am seven days a week, a practice he continued even after retirement up until the day he had to be confined to a nursing home at age 96. For him there were no days off, weekends, holidays or vacations. From the time he was fourteen years old it was work, work, work to build a family business thanks to his strict and demanding father. In turn, I am proud to say that he passed some of that same strong work ethic on to me. But did that background make him a dull, bitter or angry person? To the contrary he was a handsome, charming and caring husband and father who loved to socialize, cook for large dinner parties and fish when time permitted. In fact in his later years after retirement and the death of my mother, he found another companion who became the love of his life with whom he would often travel to Cabo St. Lucas to catch the big ones, and then to Rockport, Texas to haul in those marvelous redfish which Paul Prudhomme blackened and made so famous in the Big Easy. He was fiercely independent up until age 96, living alone and driving himself and others where ever they wished, but life headed downhill the last eighteen months of his life when the nursing home became his habitat.
But just like the May 9th post, that's about a parent from the past. Juxtapose the life of my father who came from that rapidly disappearing "greatest generation" who were born during the turn of the century, grew up during the depression, lived through two world wars, participated in the industrial revolution, fueled the growth of suburban America and became its middle class with the life of the modern father. In many cases you will find vast differences brought about by diverse lifestyles, new priorities, social changes and rapidly evolving technology. Does that "greatest generation" tag make my father better than today's fathers? Of course not. Like with the young mothers who were lauded here last month, I marvel at what today's committed great fathers do to enrich their family experience in addition to working hard at their jobs each day. Unlike patriarchal fathers of the past, many are very connected to and involved with raising their children starting at very early ages with bathing and changing diapers, and then progressing to providing them with entertainment, helping with homework, coaching sports teams, listening to problems and, most importantly, providing a safe and nurturing home environment in which their children can and grow and develop into responsible and caring adults. What could be more rewarding?
But, sadly, not all homes are so blessed. In fact, society is rife with problems (e.g. drugs, crime, jail, etc.) often caused directly by the absence of fathers. This very issue has often been addressed in a variety of news stories and articles in great and vivid detail. Currently, it is the subject of a book entitled "FATHER FICTION" by New York Times bestselling author Donald Miller who tells about his own experience of growing up without a father. My take on the gist of his message as discussed this past Thursday on the Diane Rehm Show at http://thedianerehmshow.org is how by default he learned so many things second hand from other male figures, and how important the sustained presence of a strong father figure in the home is to impressionable children.
Obviously, I cannot identify with that circumstance, nor can my four granddaughters who are blessed with having fathers who personify the modern mold described above, and who I would like to salute today. First, there is our son, Edward, who has the benefit of a great education, a wonderful wife, stimulating career jobs in the Silicon Valley of California, great friends and two beautiful daughters who are the center of his life and the beneficiaries of his dedication as an involved father. Then, there is our son-in-law, Mike, who also has the benefit of a great education, a wonderful wife, a successful career in the film industry while living in his beloved New York, great friends and two beautiful daughters who benefit from his direct and loving involvement in their lives. In truth, I'm the blessed one, made more so by the fact that both families are back in Little Rock this weekend to help celebrate my Father's Day. So, to all of you "grandi patri" out there, whether from the old generation or the new, let me pass my happiness on and wish you a "Happy Father's Day!"
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
But just like the May 9th post, that's about a parent from the past. Juxtapose the life of my father who came from that rapidly disappearing "greatest generation" who were born during the turn of the century, grew up during the depression, lived through two world wars, participated in the industrial revolution, fueled the growth of suburban America and became its middle class with the life of the modern father. In many cases you will find vast differences brought about by diverse lifestyles, new priorities, social changes and rapidly evolving technology. Does that "greatest generation" tag make my father better than today's fathers? Of course not. Like with the young mothers who were lauded here last month, I marvel at what today's committed great fathers do to enrich their family experience in addition to working hard at their jobs each day. Unlike patriarchal fathers of the past, many are very connected to and involved with raising their children starting at very early ages with bathing and changing diapers, and then progressing to providing them with entertainment, helping with homework, coaching sports teams, listening to problems and, most importantly, providing a safe and nurturing home environment in which their children can and grow and develop into responsible and caring adults. What could be more rewarding?
But, sadly, not all homes are so blessed. In fact, society is rife with problems (e.g. drugs, crime, jail, etc.) often caused directly by the absence of fathers. This very issue has often been addressed in a variety of news stories and articles in great and vivid detail. Currently, it is the subject of a book entitled "FATHER FICTION" by New York Times bestselling author Donald Miller who tells about his own experience of growing up without a father. My take on the gist of his message as discussed this past Thursday on the Diane Rehm Show at http://thedianerehmshow.org is how by default he learned so many things second hand from other male figures, and how important the sustained presence of a strong father figure in the home is to impressionable children.
Obviously, I cannot identify with that circumstance, nor can my four granddaughters who are blessed with having fathers who personify the modern mold described above, and who I would like to salute today. First, there is our son, Edward, who has the benefit of a great education, a wonderful wife, stimulating career jobs in the Silicon Valley of California, great friends and two beautiful daughters who are the center of his life and the beneficiaries of his dedication as an involved father. Then, there is our son-in-law, Mike, who also has the benefit of a great education, a wonderful wife, a successful career in the film industry while living in his beloved New York, great friends and two beautiful daughters who benefit from his direct and loving involvement in their lives. In truth, I'm the blessed one, made more so by the fact that both families are back in Little Rock this weekend to help celebrate my Father's Day. So, to all of you "grandi patri" out there, whether from the old generation or the new, let me pass my happiness on and wish you a "Happy Father's Day!"
ARTISTS
Laura Raborn at http://paintingsofhome.com and http://claygifts.com
Jim Johnson at http://yessy.com/jimjohnson/gallery.html
Russ Powell at http://powellphotos.com
Linda Flake at http://lindaflake.com
Tom Herrin at http://tommysart.blogspot.com
Matt McLeod at http://matt@mattmcleod.com
Artists Registry at http://www.arkansasarts.org/programs/registry/default.aspx
Barry Thomas exclusively at Ellen Golden French Antiques in the Heights
GALLERIES
Local Colour Gallery at http://localcolourgallery.com
Chroma Gallery at http://chromagallery.com
Cantrell Gallery at http://cantrellgallery.com
Greg Thompson Fine Art at http://gregthompsonfineart.com
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