Democrats Plan To Take on the Mortgage Crisis!

As previously discussed on this blog, the mortgage crisis has led to a general credit crisis and now threats of a recession. Recessions are often hardest on young workers and recent college graduates. Young people are the first to feel the effects of a recession as it becomes harder to get a job and all but the most penalty ridden credit options are taken away from us. We are also far more likely to be sucked in to these alternative mortgages due to a lack of strong credit histories. We need real leadership on these issues.

While the outlook has been bleak, and the Republican leadership is slow to act, Assembly Democrats are proposing a real solution for working families in this crisis. Local Assemblymen Bob Reilly and Tim Gordon are backing a comprehensive package that provides $150 million in direct financial assistance to struggling homeowners, $30 million for counseling and legal services, and offers mediation and legal representation for those duped by unscrupulous lenders.

This is exactly the kind of action needed, but as usual, the Republican Senate is worried about their large corporate donors. Tell Senator Farley to stop playing to the corporate interests and start working for his constituents by supporting this plan for working families.

Hugh Farley Fails to Protect Homeowners

Reading the article in the Daily Gazette a few weeks ago "Farley 'appalled' by rise in risky loans," I was disappointed but not suprised to see Senator Hugh Farley just now discovering that he has failed to protect his constituents. Senator Farley stated that he was appalled by the rise of sub-prime lending, particularly in Montgomery County, and the potential dangers involved. It is great that he is appalled, but where has he been on this major issue for the past year? Why has he not been fighting to protect consumers who are losing their homes to predatory lenders? Senator Farley is chair of the powerful State Senate Committee on Banks, yet he has not acted in the interests of the consumers and has allowed predatory lenders and risky mortgages to drive hard working people into foreclosure bankruptcy.

For the Senator to just now be catching on to the most significant financial crisis to face the country in decades shows a failure of leadership. Headline after headline from newspapers to television have covered the crisis and the plight of working Americans facing financial disaster. The mortgage crisis has now led to credit card debt surging and a double digit increase in the percentage of people falling behind and becoming delinquent. Even those families who are able pay their bills are finding that their home values are falling and credit is becoming more difficult to obtain. These are the very symptoms that have led to a possible recession.

For nearly a year, the media has loudly been warning of the expanding crisis. It seems Senator Hugh Farley slept through the wake up call and that is costing all of us.

The Youth Vote: Ignore Us At Your Own Peril

Thank you to Circle for crunching the numbers and showing, for the third time this year, the Youth Vote has grown by substantial margins AND played a crucial role in deciding the winner. In the South Carolina Democratic Primary, the Youth Vote tripled from 2004 levels!

Mike Connery, at FutureMajority.com, has been a real leader in stressing the importance of the growing youth vote. He makes the point "the idea that 'young people don’t vote' is patently ridiculous. In 2004, 49% of all voters 18-29 went to the polls. That’s millions of voters. In fact, a report by the Harvard Institute of Politics stated that more voters 18-29 went to the polls (20.7 million) than did voters over 65, the so-called reliable seniors (19.4 million)."

Circle Reports: "About nine-in-ten local party leaders say youth political engagement is a serious problem and 93% of local party leaders feel local parties can make a big difference in getting young people involved in politics." But the major problem is "only 8% of the party chairs identified young people as the most important demographic for the 'long-term success of their party,' compared to 21% (of Local Party Leaders) who named senior citizens." Source: Throwing a Better Party: Local Mobilizing Institutions and the Youth Vote

The youth vote is continually growing and is a critical part of the future of the Democratic Party. And is proving to be more critical than ever for the upcoming 2008 elections. Young people have an important voice and we will be heard. The attacks that young people do not vote are merely myths created in a mired attempt at dissuading young voters from going to the polls. The reality is, like with any other group, when politicians speak to our issues, when they work to get their message out to us, and when they show us they care about our interests, we will vote. And when we vote, we make the difference!

How is this for not voting:In 2006, it was Young Democrats who won Congress back for the Democratic Party by voting for Democrats at a larger rate than any other age group in this critically close election.The flaw in the logic of many party leaders is that they forget that young voters are critical to the long term success of the party because we ARE the future of the party. And our opponents know that simple fact. We are more than simply good for a literature drop and stuffing envelops, we are a critical part of the Democratic Party not just tomorrow, but today. We are the generation of change, the generation of hope and we will work hard for a better future. This is a commitment that can make the difference in not only this election, but elections for the next generation.

By involving young people in campaigns and elections, we train a whole new generation of party leaders. This is not just a nice theory, but a fact. Many of the critical organizers for both the Hillary and Obama campaigns are veterans of the Dean campaign. Even a failing campaign can train and reload the party with new leaders, something that cannot happen by merely concentrating on senior voters. We do not call for politicians to ignore the issues of Seniors. Social Security and Medicare mean a lot to our futures too. Locally, we care about Glendale Nursing Home and other senior programs that play a critical role in making our community a better place. We strongly believe though that concentration on these issues does not have to come at the cost of ignoring young voters. Even while immediate costs may be high, the long term payouts of Youth involvement are more than worth the effort. If party leaders fail to truly consider this point and don't expand the base by drawing in young people for more than just campaign volunteers, it will be to the peril of the Democratic Party.

Sound Democratic Economic Development

As I sit here this evening writing this blog, I am listening to the sweet sounds of the African Dance Troupe that is in town visiting Proctor's. Here in Schenectady, we don't have to travel far to get culture from the far east or west, we have it right here in the heart of downtown Schenectady. It is only in the last four years, since the new Democratic majority took control, that we have been able to enjoy these type of events and have come to expect great performances without having to leave our community. Under the new Democratic leadership of Schenectady is there an economic boom that has not been felt here in generations. It is because of the wise and carefully crafted economic development policies of the County Legislature, which has worked closely with businesses across the County (including Proctors), that we are thriving today.

Spotlight on: Jeff McDonald

We are planning to regularly highlight elected officials (primarily local officials) for their contributions to the public good. This week, we start with one of our own Jeff McDonald. Jeff is currently the youngest member of the Schenectady County Legislature and is one of the youngest ever elected in its history.

Jeff McDonald is the co-owner of the Stockade Inn in Schenectady. This business has been a very successful part in the resurgence of Schenectady’s downtown. The Stockade Inn, under Jeff's co-ownership, has won a Chamber of Commerce award, the Downtown Schenectady Improvement Corporation Building Block Award, and the TD Banknorth Business of the Year Award. But this is just one example of the great businesses Jeff and his family own in the city. The well-known the downtown pub Pinhead Susan’s is another example. Also important to note, all of the McDonald family’s projects have been privately financed without any public assistance.

As if running a hugely sucessful business wasn't accomplishment enough, Jeff was recently elected with a large margin as a District 2 represenative member to the County Legislature. Despite his relative youth, Jeff immediately became chair of its Public Facilities Committee and Vice-Chair of the Ways and Means Committee. A magna cum laude graduate of Northeastern University with a B.S. in Civil Engineering, Jeff is a licensed Professional Engineer in New York State and brings that critical perspective to the Legislature. His youth and enthusiasm bring a unique perspective and energy to his work that have quickily earned him the respect of his collegues.

Beyond his role with the Legislature, Jeff is member of the City of Schenectady Industrial Development Agency board. In this role, he has worked to help create a better atmosphere for businesses in Schenectady.

Jeff, a lifetime resident of Schenectady County, is committed to continuing that revitalization while reducing the tax burden on residents. He understands that young people cannot afford the high tax burden and are moving out of the county. To solve this problem, he argues that the tax levy must be drastically reduced by both increasing the commercial tax base and decreasing expenses. Jeff's goals as a legislator are to encourage residency in depressed areas of the city by offering legislative incentives, provide additional support to the city from the county to help reduce taxes and fight crime, reform the abuses of social services, and to eliminate waste in government by consolidation of services.

The turnaround in Schenectady County came through Democratic leadership. It came because of a strong focus on unified economic development which Republicans neglected for years. Jeff McDonald continues that tradition and, at 28, he is the very definition of the important role young Democrats can play in shaping the future of our County.

First Event!

We are having our organizational meeting Febuary 5 at 8pm at the Ancient Order of the Hibernians Hall in Schenectady. Immediately following will be a free primary result party being sponsored by the County and City Committees with food and refreshments. RSVP to SchenectadyYD@gmail.com if you are interested!

What We Believe

A failed President whose one goal is to drive our culture and government back from a century of progress occupies the White House. We have been lied to, fooled into fear, and driven into an unnecessary war. We live in a time where some consider criticism the same as treason. The extreme Right Wing that has taken control of our White House is willing to sacrifice our future to line the pockets of the already well off. Our environment suffers, our children lack health care, our jobs are shipped overseas, our national debt grows, and our future seems to wane.

But as we look around and see these tragedies, we Democrats believe in something better. We believe that a sound education is a human right that should be available to all. We believe that your health should not be determined by your bank account. We believe in fair and open government that represents the entire diverse nation we are. We believe in a clean and energy efficient environment, that rolls back the effects of global warming. We believe in a balanced budget that invests in our future.

Most of all, we believe in each other. In reforming the Young Democrats of Schenectady County we are working together to accomplish these goals. We want to ensure progressive policies aimed at serving the needs of all members of our community. We want to make sure that we accomplish this for today and for our children of tomorrow.

That is why we need your help! By being active in the Young Democrats, you are saying no to the failed policies of the Bush Administration and yes to change. You are taking a stand for a brighter future and saying we can do better. We’re young, we care, and we will make the difference.