The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.

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Monetary policy itself cannot sensibly be directed at reducing imbalances.

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Another example of the educational inequality is the current debate over publicly financed school vouchers which will provide educational opportunities to a privileged handful, but deprive public schools of desperately needed resources.

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That means following a very restrictive fiscal and monetary policy which will squeeze the monopolies and cut their subsidies. On the micro level we will allow other economic agents, both domestic and foreign, to compete with them.

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Increasing inequality in income distribution in this country has broader policy implications, and there is also the growing problem of perverse incentives that result from executives receiving grossly disproportionate compensation based on decisions they themselves take.

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In the government schools, which are referred to as public schools, Indian policy has been instituted there, and its a policy where they do not encourage, in fact, discourage, critical thinking and the creation of ideas and public education.

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But it is also clear that left entirely untouched by public policy, the capitalist system will produce more inequality than is socially healthy or than is necessary for maximum efficiency.

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Bush promised a foreign policy of humility and a domestic policy of compassion. He has given us a foreign policy of arrogance and a domestic policy that is cynical, myopic and cruel.

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If I am confirmed, I am confident that my colleagues on the Federal Open Market Committee and I will maintain the focus on long-term price stability as monetary policy's greatest contribution to general economic prosperity and maximum employment.

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I inherited a sick economy and passed on a sound one. But one abiding regret for me is that, in between, I did not have the resources to put in place the educational and social changes about which I cared to much; I made only a beginning, and it was not enough.

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Already, China has undermined U.S. foreign policy in efforts to gain access to oil resources in Iran and Sudan. We simply cannot separate the political and economic values of oil.

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Benefits of 1995 Fish Trash Policy

policy no policy
policy of indifference
policy of stupidity

now reaps rewards

use “trash fish”
policy as animal feeds
and in fish farming means

bycatch
is increasingly
financially

attractive to fishers
fishers of world oceans
policy bad policy

1995 one study
showed 27 million tonnes
of fish being discarded

every year but
2005 an investigation found
figure had dropped

to recorded
only 7 million tones
good news

no amount
of bycatch
did dropp not

just deleted
from records
off hot books

policy of greed

a Bermuda Triangle mystery?
a mystery of 20 million tonnes
20 million tonnes of missing fish?

20 million tonnes
were being sold
but control without

what hope in fisheries
of achieving sustainability
if we don’t woe know what

is being caught?

time for television watch
sport big game fishing but
“an estimated 90 per cent

of all large predatory fish
are gone totally fished out
greed humanity gills caught”

partly because fish trash
part of food chain was never trash
what do you think big fish eat?


(Quotation is the poem ‘Where Did All Large Game Fish Go? ’ by Terence George Craddock)

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As we get closer to the end of this Congress, we should be addressing the urgent needs of the American people - the war in Iraq, affordable health care, a sensible energy policy, quality education for our children, retirement security, and a sound and fair fiscal policy.

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We had some major successes and we did so because the country embraced the spirit of Earth Day and embraced this concept that we have to have forward-looking, visionary environmental policy and energy policy in this country.

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Truly, the challenges we face are not Democratic challenges or Republican challenges. In fact, they are not political challenges at all; they are fiscal challenges, and educational challenges, and the challenges of figuring out how to take care of each other.

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The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.

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We can close the gap and improve what happens in the classroom by using educational technology that is the same high quality everywhere.

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The educational resources provided by a child's fellow students are more important for his achievement than are the resources provided by the school board.

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Foreign policy can mean several things, not only foreign policy in the narrow sense. It can cover foreign policy, relations with the developing world, and enlargement as well.

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Motown's policy was to build one act at a time or their favorites.

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Any debate among politicians about monetary policy is counterproductive.

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