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Are the fundamentals of our economy strong?

John McCain thinks so

Do Dale Sweetland, Chris Lee, and Randy Kuhl think so too? I’m guessing Dan Maffei, Alice Kryzan, and Eric Massa don’t.

Yesterday’s liquidation of Lehman Brothers was the biggest bank collapse since the 1930s and AIG may represent an even larger collapse.

Can you have large bank collapses in the context of a fundamentally strong economy? What caused this crisis and what can be done about it?

These are questions that should be answered by everyone running for federal office.

Maffei hammers Sweetland for nondisclosure

Apparently, Dale Sweetland hasn’t filed his preprimary FEC summary.  The Maffei campaign pounces (from a Maffei campaign press release):

Congressional candidate Dale Sweetland has violated federal election law by failing to file required financial disclosure forms in advance of the September primary election. Federal election law stipulates that all candidates for federal office file specific financial disclosure forms in order to provide a transparent election process.

Though neither Sweetland nor Dan Maffei face primary opponents, they are still required to file financial disclosure reports prior to the primary, including “48-hour Reports” that detail contributions in excess of $1,000. Maffei has filed all the required reports, including several 48-hour Reports. Sweetland has filed neither the required disclosure report nor any 48-hour Reports.

According the Federal Election Commission (FEC), candidates who fail to follow the law face fines and penalties, and since this report is considered “election sensitive” Sweetland faces stiffer sanctions. Sweetland’s fine will be based on the level of activity on the report when he eventually decides to follow the law.

“It’s hypocritical for Dale Sweetland to on one hand criticize Dan Maffei for raising money and then to turn around and blatantly violate a simple election procedure that allows the public to see who is paying for elections,” said Maffei campaign manager Dan Krupnick. “Apparently he doesn’t believe in transparency, because the FEC is very direct with candidates and they are serious about making sure all candidates are completely truthful when it comes to election financing.”

Back-to-back ads

I just saw back-to-back political ads — one for Jon Powers, one for Dan Maffei — while watching the convention on MSNBC. Here they are:

Charlie Cook changes ratings on NY races

From The Albany Project:

The Cook Political Report has upgraded (sub req’d) the races in NY-13 and NY-25 from “Lean Democratic” to “Likely Democratic” and downgraded the race in NY-26 from “Toss Up” to “Lean Republican.”

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Oil prices

I’d like to revisit our earlier video about Dale Sweetland’s claims about oil prices. Sweetland seems to be claiming that by “saying we’re going to drill”, we can lower the price of oil futures substantially. But that’s just not true because (1) it takes about 5-10 years for the new sites to start producing large quantities of oil and (2) the quantities probably won’t be large enough to put a significant dent in oil price. To wit, we’ve seen estimates that opening up ANWR to drilling would probably only lower the price of gas by about 75 cents per barrel. There is simply no way that “saying we’re going drill” is the reason crude prices have dropped 15 bucks a barrel over the past weeks. The much more likely causes of of this drop, as commenter GhostOfMurrow points out, are increased production from Saudi Arabia and a decrease in demand (which is a natural reaction, of course, to higher prices).

Along these lines, the Messenger-Post has an editorial up about Kuhl’s ridiculous ideas about lowering the price of oil by 2 bucks a gallon. The title says it all “Never mind those oil experts.”

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Sweetland: We don’t need to drill, we just need to say we’re going to drill…

Can anyone else make sense of this statement from Dale Sweetland?

Five weeks ago, I made the statement ‘We don’t even need to drill. We just need to say we are going to drill and we are going to use our own resources.’ Because of that, over the past 10 days the price for a barrel of oil has gone down $16. “

We should have a video of this up soon.

Update: Here’s the video.

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NY-25, NY-26 & NY-29: Maffei, Powers & Massa team up to encourage public service jobs in Western New York

Today Democratic candidates for Congress Dan Maffei (NY-25), Jon Powers (NY-26) and Eric Massa (NY-29) teamed up to encourage national service through public service jobs in America.  They gathered in front of Greece Arcadia High School alongside fellow Democrats Rick Dollinger, candidate for State Senate in the 56th District (website coming soon), and Dick Beebe, County Legislator.  Paul Riordan, candidate for Supreme Court Judge, was also in attendance, as were about 20 local teachers and nurses in a show of support for Maffei, Powers and Massa.  It was raining a bit so I left my camera in the car, my apologies.

Powers began, noting that both he and his mother are teachers, and that his policy of national service, A Call To Service, is about “re-engaging our country.”

Here, excerpts:

Like the recent G.I Bill rewarding our men and women in uniform for their service and providing educational funding, we must launch a Professional Public Service Program similar to ROTC, encouraging high school and college aged citizens to enter service professions. As America faces shortages in critical occupations, we must reward training and public service into professions that serve our public good but are often overlooked for lacking financial incentive. Helping and recruiting our region’s best talent will ensure secure, long-term jobs here in Western New York.

Fields targeted for enhancement are nursing, teaching and social work.  Powers also advocated for vocational programs, apprenticeships and mentoring.  Additionally, he called for increasing both AmeriCorps and the Peace Corps enrollment.  It’s an ambitious program and worth reading in full at the above link.

Massa, who has 24 years of public service, advocated reinvesting “in our work force locally by using state and federal programs to forgive student loans over time for graduates that choose to take public service jobs here in Western New York.  Kind of like a domestic GI bill, but instead of serving in the military you can serve here at home.”  He also advocated creating an economic development zone much like North Carolina’s Research Triangle.

Massa went on to say we must “stop leaving college students behind and shipping jobs to China.  It’s all a matter of teamwork,” pointing to Maffei, Powers and Dollinger standing beside him.

Maffei, for his part, referenced Abe Lincoln’s First Inaugural Address phrase “Angels of our better nature,” stating that “Just like Abe Lincoln’s ‘angels of our better nature,’ we must stand and fight and be a part of this community where we’re needed.”  He called out President Bush’s tactics by contrast such as when America was attacked on September 11th and the president told us to show our patriotism by going shopping.  Maffei instead pointed to JFK’s “Ask not what your country can do for you” speech and noted that both of his parents were social workers.  He also pointed out that he, Powers and Massa will be leaders of the next Congress, not just members.

Rick Dollinger then spoke, stating that “In 1932 America elected a president who couldn’t walk (FDR) but he put America back to work.”  He then referenced the great work of JFK and Bill Clinton in terms of public service and the economy.  Dollinger went on to say “Those three presidents and these three gentlemen,” pointing to Maffei, Powers and Massa, “have one thing in common: they’re all Democrats.”

The crowd erupted in applause.

Jon Powers noted “Americans are ready to serve, they just need Washington to help make it possible.”  He referenced biotech and greentech jobs and the easing of college debt, stating that we need to “keep our best, brightest and talented right here.”

Massa concluded by saying “All we want is a playing field where we can solve our own problems.  Everybody should serve somewhere.”  He then noted the teamwork the three of them could employ with Louise Slaughter as a “Rochester caucus.”  Massa noted “None of us are shrinking violets.  The four of us will have a very loud and clear voice.”

Maffei concluded by saying “We also want to offer non-financial incentives for joining the military,” noting there is an increased need for Americans to help our veterans, not only from the Iraq and Afghanistan wars but also from Korea and Vietnam.

Powers concluded the press conference by saying “Military service taught me to serve my country and to continue that service.  There are other ways to serve, teaching, nursing…[We have] a once-in-a-generation chance for change.”

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How sweet it isn’t

Dale Sweetland, the Republican candidate in NY-25, just came in with his 2Q fundraising numbers –107K raised in the quarter 133K raised in the quarter I let you know about his cash on hand when I find out with 107K cash on hand. Recall that his Democratic opponent Dan Maffei raised 475K in the quarter and has nearly a million on hand.

Sweetland numbers are terrible, worse than expected and expectations were low.

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Congresional Quarterly moves NY-25 to “leans Democrat”

Airbare recently gave us an excellent summary of how New York State Congressional races are increasingly seen as pick-up opportunities for Democrats. There’s more movement in that direction today: afater the Maffei campaign announced its fundraising totals yesterday, Congressional Quarterly just moved NY-25 into the “leans Democrat” category, writing “Maffei’s fundraising advantage and exposure has led CQ Politics to change its rating on the race to Leans Democrat from No Clear Favorite.”

Update: I missed this nugget on Maffei’s opponent, Dale Sweetland, the first time through: “Rapp estimated that Sweetland had raised nearly $130,000 in the past month, but did not have a number for the campaign’s total fundraising.” If Sweetland comes in much under $250,000 for the quarter, he’s all but gone.

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Huge Maffei fundraising totals

These are big numbers (from a press release — no link yet):

  • A total of more than $1.3 million raised through June 30, 2008;
  • A total of more than $470,000 raised from April 1 through June 30, 2008 (put in perspective, the previous record total quarter for Maffei was $369,000 in the last quarter of 2006);
  • A total of more than $950,000 cash on hand;

Maffei is also up on the air with ads in Rochester and Syracuse.

Update: These numbers and the fact that the Maffei campaign is the first NYS Democrat running general election ads on television is the lead story on the Crypt at the Politico right now.

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