Felix Rohatyn: Why I Am Voting for John Kerry
Felix Rohatyn, in the WSJ (July 20, 2004):
As a first-generation American I care passionately for this country and I fear for its future. And as an active Democrat, I support the Kerry-Edwards ticket for two fundamental reasons: First, I believe that their view of America and of our domestic economic and social priorities will improve the prospects of a better future for all Americans; and second, I believe that their view of America's position in the world and its relationship to our allies will make us safer in today's dangerous global environment.
The Bush administration came into office with a wealth of experience and a radical view of our domestic as well as of our foreign policy. Their domestic economic policies consisted of large transfers of wealth to upper-income Americans through tax cuts, of large deficits, a cheap dollar and high levels of debt. Significant increases in defense, a recession and the war in Iraq added hundreds of billions of dollars to the deficit. Internationally, the administration took an equally radical approach, jeopardizing 50 years of American leadership on a whole range of international institutions and agreements....
A Kerry administration, I believe, would get a more positive reaction from Europe's leaders than is the case now, although the relationship will never quite be the same. However, it is clear that it is in our mutual interest to do so. It is well to remember that the U.S. and Europe are each other's most important trade partner, most important investor and most important employer.
Furthermore, widespread international hostility poses significant risks to the U.S. economy and to its security. Mr. Kerry recognizes the danger to the U.S. of excessive reliance on other countries for our energy requirements; the same goes for our excessive reliance on foreign capital to service our soaring foreign debt. I have greater faith that a Kerry-Edwards administration will have the courage and the creativity to deal with these difficult issues.
They would also recognize that, in a globalized world, the U.S. can still support the basic principles which Republican as well as Democratic presidents followed for 50 years after World War II. The importance of the Atlantic Alliance and the importance of a reformed U.N. are a critical part of such a process.
It is also necessary for our leaders to innovate. In 1942, FDR, at what was probably our lowest point in World War II, provided America with what turned out to be the most powerful economic tool for the future of our country as well as the most far-reaching recognition of our debt to our servicemen. The GI Bill of Rights sparked the greatest surge in the creation of intellectual capital in our history and set the stage for America's economic superiority for the balance of the century. As we face China and India in competition, in addition to military strength, it will be on the battlefield of intellect and education that we will have to compete. I believe that Messrs. Kerry and Edwards will recognize the challenge and will have the energy and imagination to meet it.
During the Cuban missile crisis, President Kennedy sent Dean Acheson to solicit the support of Gen. de Gaulle, our most difficult ally, in getting the Soviet missiles out of Cuba. When Acheson suggested to de Gaulle that he look at U-2 pictures of the missiles, de Gaulle told him he was satisfied to take Kennedy's word; he unquestioningly trusted the word of the American president while facing the Soviet threat.
In 1981, NATO and the Reagan administration requested permission to station medium-range Pershings in Western Europe. In the face of huge and hostile demonstrations in their capitals, two European Socialist leaders, Helmut Schmidt and Francois Mitterrand, supported the policy.
A Kerry administration, I believe, would get a more positive reaction from Europe's leaders than is the case now, although the relationship will never quite be the same. However, it is clear that it is in our mutual interest to do so. It is well to remember that the U.S. and Europe are each other's most important trade partner, most important investor and most important employer.
As a first-generation American I care passionately for this country and I fear for its future. And as an active Democrat, I support the Kerry-Edwards ticket for two fundamental reasons: First, I believe that their view of America and of our domestic economic and social priorities will improve the prospects of a better future for all Americans; and second, I believe that their view of America's position in the world and its relationship to our allies will make us safer in today's dangerous global environment.
The Bush administration came into office with a wealth of experience and a radical view of our domestic as well as of our foreign policy. Their domestic economic policies consisted of large transfers of wealth to upper-income Americans through tax cuts, of large deficits, a cheap dollar and high levels of debt. Significant increases in defense, a recession and the war in Iraq added hundreds of billions of dollars to the deficit. Internationally, the administration took an equally radical approach, jeopardizing 50 years of American leadership on a whole range of international institutions and agreements....
A Kerry administration, I believe, would get a more positive reaction from Europe's leaders than is the case now, although the relationship will never quite be the same. However, it is clear that it is in our mutual interest to do so. It is well to remember that the U.S. and Europe are each other's most important trade partner, most important investor and most important employer.
Furthermore, widespread international hostility poses significant risks to the U.S. economy and to its security. Mr. Kerry recognizes the danger to the U.S. of excessive reliance on other countries for our energy requirements; the same goes for our excessive reliance on foreign capital to service our soaring foreign debt. I have greater faith that a Kerry-Edwards administration will have the courage and the creativity to deal with these difficult issues.
They would also recognize that, in a globalized world, the U.S. can still support the basic principles which Republican as well as Democratic presidents followed for 50 years after World War II. The importance of the Atlantic Alliance and the importance of a reformed U.N. are a critical part of such a process.
It is also necessary for our leaders to innovate. In 1942, FDR, at what was probably our lowest point in World War II, provided America with what turned out to be the most powerful economic tool for the future of our country as well as the most far-reaching recognition of our debt to our servicemen. The GI Bill of Rights sparked the greatest surge in the creation of intellectual capital in our history and set the stage for America's economic superiority for the balance of the century. As we face China and India in competition, in addition to military strength, it will be on the battlefield of intellect and education that we will have to compete. I believe that Messrs. Kerry and Edwards will recognize the challenge and will have the energy and imagination to meet it.
During the Cuban missile crisis, President Kennedy sent Dean Acheson to solicit the support of Gen. de Gaulle, our most difficult ally, in getting the Soviet missiles out of Cuba. When Acheson suggested to de Gaulle that he look at U-2 pictures of the missiles, de Gaulle told him he was satisfied to take Kennedy's word; he unquestioningly trusted the word of the American president while facing the Soviet threat.
In 1981, NATO and the Reagan administration requested permission to station medium-range Pershings in Western Europe. In the face of huge and hostile demonstrations in their capitals, two European Socialist leaders, Helmut Schmidt and Francois Mitterrand, supported the policy.
A Kerry administration, I believe, would get a more positive reaction from Europe's leaders than is the case now, although the relationship will never quite be the same. However, it is clear that it is in our mutual interest to do so. It is well to remember that the U.S. and Europe are each other's most important trade partner, most important investor and most important employer.