Bernie Sanders: A Nut on China + We Have Always Lived Frugally

SenatorSanders | December 13, 2010

[ Transcript ]

GE is, of course, one of our major corporations. The manufacturer’s recent disclosure pointed out, the taxpayers of this country, through the Fed, provided $16 billion in bailout to General Electric during the recent crisis. This is what the head, the CEO of General Electric, Jeffrey Immelt, said in 2002, December 6:

When I am talking to GE managers, I talk China, China, China, China, China. You need to be there. You need to change the way people talk about it and how they get there. I am a nut on China. Outsourcing from China is going to grow to 5 billion. We are building a tech center in China. Every discussion today has to center on China. The cost basis is extremely attractive. You can take an 18-cubic-foot refrigerator, make it in China, land it in the United States, and land it for less than we can make an 18-cubic-foot refrigerator today ourselves.

Gee. A couple of years ago when GE had some difficult economic times, and they needed $16 billion to bail them out, I did not hear Mr. Immelt going to China, China, China, China, China. I did not hear that. I heard Mr. Immelt going to the taxpayers of the United States for his welfare check.

So I say to Mr. Immelt, and I say to all of those CEOs who have been so quick to run to China, that maybe it is time to start reinvesting in the United States of America.

Filibuster: Jeffrey Immelt’s Five Chinas


We Have Always Lived Frugally


Here is another story:

Yesterday, I paid for our latest home heating fuel delivery–

Again, I am focusing now on the cost of fuel because in Vermont, where I come from, it is a big deal. So she writes:

Yesterday, I paid for our latest home fuel heating delivery–$1,100. I also paid my $2,000-plus credit card balance, much of which bought gas and groceries for the month.

The point here, and then I will continue her letter, is that a lot of people use their credit cards not just as a nice and convenient way of not having to use cash–when I go shopping, I am going to use my credit card and I will pay it off at the end of the month. What a nice thing. No, people are using their credit cards to buy food, to buy gas, and to buy the basic necessities of life. It is their only line of credit open. And then, as I mentioned earlier, they are charged 25 or 30 percent interest rates on what they owe.

She continues:

My husband and I are very nervous about what will happen to us when we are old. Although we have three jobs between us and participate in 403(b) retirement plans, we have not saved enough for a realistic post worklife if we survive to our life expectancy. As we approach the traditional retirement age, we are slowly paying off our daughter’s college tuition loan and trying to keep our heads above water. We have always lived frugally. We buy used cars and store brand groceries, recycle everything, walk or car pool, when possible, and plastic our windows each fall.

What that means is that, in Vermont, if you don’t have good storm windows, you put up plastic. It is a way to keep the wind out and keep the home warm. I know about that because I used to do that.

Even so, if and when our son decides to attend college, we will be in deep debt at age 65. Please–

And here she ends this.

P.S. Please don’t use my name. I live in a small town, and this is so embarrassing.

So embarrassing. We should be embarrassed, not her. We should be embarrassed that we are for one second talking about a proposal which gives tax breaks to billionaires while we are ignoring the needs of working families, low-income people, and the middle class. We should be embarrassed that we are not investing in our infrastructure, that we are not breaking up these large financial institutions, that we are not putting a cap on interest rates, that we are the only country in the world that does not have health care for all of our people–of major countries. We should be embarrassed, not this wonderful woman who is trying to maintain her dignity.

Filibuster: Sanders Reads Consituent Letters on the Collapsing Middle Class


Bernie Sanders Denounces Obama-GOP Tax Cut in 8.5-Hour Senate Speech, Says U.S. Becoming “Banana Republic”

Democracy Now!
Dec. 13, 2010

The U.S. Senate is holding a key test vote today on President Obama’s controversial legislation that would extend the Bush-era tax cuts for the wealthiest Americans. The bill caused an uproar when it was announced last week, but no one voiced more powerful opposition than Senator Bernie Sanders I-VT. He took to the floor of the Senate at 10:24 a.m. on Friday morning to denounce the tax-cut plan. He did not yield the floor back until 6:59 p.m., more than eight-and-a-half hours later. We play highlights of his address. [includes rush transcript]

via Bernie Sanders Denounces Obama-GOP Tax Cut in 8.5-Hour Senate Speech, Says U.S. Becoming “Banana Republic”


Bernie Sanders Denounces Obama-GOP Tax Cut in 8.5-Hour Senate Speech, Says U.S. Becoming “Banana Republic”


Bernie Sanders’ Filibuster Begins…

Robert Weissman at the Anti-Corruption Rally at the US Chamber of Commerce

Michael Hudson: From WikiLeaks to 21st Century Potato Famines

Obama’s Bushism by Michael Hudson

Senator Bernie Sanders On Standing Up To The Rich

When Is Enough Enough?

Sanders Discusses His Filibuster with MSNBC’s Ed Schultz

6 thoughts on “Bernie Sanders: A Nut on China + We Have Always Lived Frugally

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  6. I wonder if Bernie’s little speech would have had any real purpose or affect, had he, you know, actually FILIBUSTERED TODAY, when it was actually the time to do so?

    But no, he took up the entire day when there wasn’t anything that what he was saying could have any affect on the crooks in Congress.

    So many progressives are so gullible as to make me sick.

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