No President has been Removed by Impeachment, Conviction

A 1996 letter President Clinton sent to a journalist, regarding an article that had moved the president, sold for $10,755 at a February 2010 Heritage auction.

By Jim O’Neal

On Jan. 7, 1789, members of the Electoral College cast 69 votes for George Washington to become the first president of the United States, while John Adams, who finished in second place with 34 votes, became the first vice president.

These electors, who had been chosen by white men who were landowners in 10 states, also cast votes for John Jay (9), Robert Harrison (6), John Rutledge (6), Samuel Huntington (2), John Milton (2), Benjamin Lincoln (1), and Edward Telfair (1). Forty-four electors failed to cast a vote.

Bill Clinton

North Carolina and Rhode Island were ineligible since their statehood had not been ratified. New York did not appoint the eight electors they were eligible for since they were deadlocked in their state legislature.

We still use the Electoral College, as established by the Constitution, which has been modified several times and today gives all citizens age 18 and over the right to vote for electors, who in turn vote for the president and vice president (only). On the first Monday after the second Wednesday in December, each state’s electors simultaneously cast their ballots nationwide.

Then on Jan. 6, the electoral votes are counted before Congress and, finally, on Jan. 20, the president is sworn into office. In the case of George Washington, he wasn’t sworn in until April 30, 1789, since Congress didn’t count the electoral votes until April 6.

Exactly 210 years later, on Jan. 7, 1999, the impeachment trial of President William Jefferson Clinton began in the U.S. Senate, with senators sworn in as jurors and Chief Justice William Rehnquist sworn in to preside. President Clinton was formally charged with lying under oath and obstruction of justice.

Four years earlier, he had sexual relations with a 21-year-old unpaid intern in the White House before she was transferred to the Pentagon. Contrary to his sworn testimony in an unrelated sexual harassment case, President Clinton admitted to a grand jury (via closed-circuit television) that he had not been truthful.

On Dec. 11, 1998, the House Judiciary Committee approved three articles of impeachment. On Dec. 19, the full House approved two articles of impeachment: lying under oath to a grand jury and obstructing justice. On Feb. 12, the Senate voted on the perjury charge and 45 Democrats and 10 Republicans voted “not guilty.” On the charges of obstruction of justice, the Senate vote was split 50-50.

This was the third and last time the Senate Judiciary Committee had voted to impeach the president of the United States. Two were found not guilty (Andrew Johnston in 1868 and Bill Clinton), while a third, Richard Nixon, resigned to avoid what was an almost certain guilty verdict. (In 1834, the Senate voted to “censure” Andrew Jackson).

Intelligent Collector blogger JIM O’NEAL is an avid collector and history buff. He is president and CEO of Frito-Lay International [retired] and earlier served as chair and CEO of PepsiCo Restaurants International [KFC Pizza Hut and Taco Bell].

National Debt on Automatic Pilot to More Growth

A letter by President George W. Bush, signed and dated July 4, 2001, sold for $16,730 at an April 2007 Heritage auction.

By Jim O’Neal

In May 2001 – just 126 days after President George W. Bush took office – Congress passed his massive tax proposal. The Bush tax cuts had been reduced to $1.3 trillion from the $1.65 trillion submitted, but it was still a significant achievement from any historical perspective. It had taken Ronald Reagan two months longer to win approval of his tax cut and that was 20 years earlier.

George W. Bush

Bush was characteristically enthusiastic about this, but it had come with a serious loss in political capital. Senator James Jeffords, a moderate from Vermont, announced his withdrawal from the Republican Party, tipping control of the Senate to the Democrats, the first time in history that had occurred as the result of a senator switching parties. In this instance, it was from Republican to Independent, but the practical effect was the same. Several months later (after the terrorist attacks on the World Trade Center and the Pentagon), there was a loud chorus of calls to reverse the tax cuts to pay for higher anticipated spending.

Bush had a counter-proposal: Cut taxes even more!

Fiscal conservatives were worried that there would be the normal increase in the size and power of the federal government, lamenting that this was a constant instinctive companion of hot wars. James Madison’s warning that “A crisis is the rallying cry of the tyrant” was cited against centralization that would foster liberal ideas about the role of government and even more dependency on the federal system.

Ex-President Bill Clinton chimed in to say that he regretted not using the budget surplus (really only a forecast) to pay off the Social Security trust fund deficit. Neither he nor his former vice president had dispelled the myth about a “lock box” or explained the federal building in Virginia that had been built exclusively to hold government IOUs to Social Security. In reality, they were simply worthless pieces of scrip, stored in unlocked filing cabinets. The only changes that had ever occurred with Social Security funds were whether they were included in a “unified budget” or not. They had never been kept separate from other revenues the federal government received.

But this was Washington, D.C., where, short of a revolution or civil war, change comes in small increments. Past differences, like family arguments, linger in the air like the dust that descends from the attic. All of the huge surpluses totally disappeared with the simple change in the forecast and have never been discussed since.

Back at the Treasury Department of 15th Street, a statue to Alexander Hamilton commemorates the nation’s first Treasury Secretary, a fitting honor to the man who created our fiscal foundation. But on the other side stands Albert Gallatin, President Thomas Jefferson’s Treasury Secretary, who struggled to pay off Hamilton’s debts and shrink the bloated bureaucracy he built.

Hamilton also fared better than his onetime friend and foe, James Madison. The “Father of the Constitution” had no statue, no monument, no lasting tribute until 1981, when the new wing of the Library of Congress was named for him. This was a drought that was only matched by John Adams, the Revolutionary War hero and ardent nationalist. It was only after a laudatory biography by David McCulloch in 2001 that Congress commissioned a memorial to the nation’s second president.

Since the Bush tax cut and the new forecast, the national debt has ballooned to $20 trillion as 9/11, wars in Iraq and Afghanistan, and the 2008 financial meltdown produced a steady stream of budget deficits in both the Bush and Barack Obama administrations. The Donald Trump administration is poised to approve tax reform, amid arguments on the stimulative effect on the economy and who will benefit. In typical Washington fashion, there is no discussion over the fact that the national debt is inexorably on automatic pilot to $25 trillion, irrespective of tax reform. But this is Washington, where your money (and all they can borrow) is spent almost with no effort.

“Just charge it.”

Intelligent Collector blogger JIM O’NEAL is an avid collector and history buff. He is president and CEO of Frito-Lay International [retired] and earlier served as chair and CEO of PepsiCo Restaurants International [KFC Pizza Hut and Taco Bell].

Reagan’s Last Christmas in Office Marked by Memorable Snowy Fairyland

1980s-ronald-reagan-win-one-for-the-gipper-signed-photograph
A photograph signed by Ronald Reagan with the inscription “Win one for the Gipper” sold for $8,365 at a November 2014 Heritage auction. It’s considered the most famous line Reagan spoke on the silver screen, in 1940’s Knute Rockne, All American.

By Jim O’Neal

In 1980, Ronald Wilson Reagan became the oldest man (69) to be elected president. He extended his record in 1984 when he was reelected at age 73. For their last Christmas in the White House, the Reagans wanted to make a splash. The East Room was transformed into a snowy fairyland, with full-size trees and a gift-filled sleigh occupied by carolers and drawn by lifelike horses, all powdered with glittery “snow.” It was a vintage Hollywood image.

Thousands of visitors filed by and looked on in both delight and amazement at the dazzling scene. Nothing remotely like this had ever been seen in the White House. It was a playful farewell by two whose roots were as firmly planted in Hollywood as John F. Kennedy’s were in Boston or Lyndon B. Johnson’s on the banks of the Pedernales River.

On his final day in office, Jan. 20, 1989, President Reagan went to the Oval Office early and met with his Chief-of-Staff Ken Duberstein and General Colin Powell, the National Security Advisor. Both of them said reassuringly, “Mr. President, the world is quiet today.” After they left, Reagan also left the office, stopping at the door for one last look. George and Barbara Bush were arriving in the entrance hall below.

On the route from the Capitol to the White House, the incoming President George H.W. Bush and first lady took a cue from the Carters, leaving their car from time to time to walk along Pennsylvania Avenue to greet the crowds. They walked up the driveway on the same path all their predecessors had followed since James Monroe’s second term, 168 years before.

History linked the inauguration of George H.W. Bush and George Washington. It had been exactly 200 years since the first president began serving his first term.

President Bush had an extensive background that included two terms in Congress, ambassador to the United Nations, director of the CIA, liaison to China, and eight full years as vice president. He had easily defeated Michael Dukakis to win the presidency, but in the process famously declared “Read my lips. No new taxes!” – words that would haunt him.

Although favored for reelection in 1992, he got caught in a buzz saw when third-party candidate Ross Perot siphoned off nearly 19 percent of the popular vote and a young governor from Arkansas won with a plurality of 43 percent. William Jefferson Clinton and Al Gore Jr. became the youngest president and vice president in history.

George H.W. Bush became the 10th incumbent president to lose in a bid for reelection after becoming the first sitting vice president to be elected president since Martin Van Buren in 1836.

The strange world of presidential politics. We love it.

Jim O'NielIntelligent Collector blogger JIM O’NEAL is an avid collector and history buff. He is President and CEO of Frito-Lay International [retired] and earlier served as Chairman and CEO of PepsiCo Restaurants International [KFC Pizza Hut and Taco Bell].

 

Presidential Election Has All the Elements for a Third-Party Surprise

This Roosevelt & Johnson campaign flag for the 1912 “Bull Moose” Progressive Party ticket realized more than $5,900 at a May 2010 Heritage auction.

By Jim O’Neal

Former NYC Mayor Michael Bloomberg recently indicated he may once again consider a run for the presidency, presumably as a third-party candidate. He had similar aspirations in both 2008 and 2012, but finally concluded it would be futile.

Most politicos presume this is a low possibility, primarily because historically, third-party aspirants have not fared well at the ballot box. Most believe that the current two-party system is tilted against third parties, unless there are unusual situations.

The most prominent example was over 100 years ago when Teddy Roosevelt broke his promise of “no third term” by declaring he had actually meant “no consecutive three terms.” Once he failed to get the Republican nomination, he broke away and ended up finishing second as a Progressive (Bull Moose) candidate in 1912. This ended up dividing Republican support for President Taft and allowed Woodrow Wilson to capture the presidency in an upset.

A similar situation occurred in 1992 when Ross Perot siphoned off 19 percent of the popular vote and Bill Clinton defeated the incumbent President Bush 41 with 43 percent of the popular vote.

Another example is the Libertarian Party, which fielded their first presidential candidate in 1972. After a convention in Salt Lake City, they chose John Hospers (who was chairman of the Philosophy Department at USC) for president and Theodora “Toni” Nathan for vice president.

Out of 77 million votes cast, they received a grand total of 3,674 official votes.

However, there was one “faithless elector,” Roger MacBride from Virginia, who decided that the Libertarians were more deserving than Nixon/Agnew and cast his vote for them (maybe he knew something?). Regardless, the result was that Hospers became the last third-party candidate to win an electoral vote and Toni Nathan became the first, last and only female to ever win one (as a third-party candidate).

For the record, Strom Thurman snagged 39 electoral votes in 1948 and George Wallace ended up with 46 in 1968. Ross Perot received almost 20 million votes in 1992, but ended up with zero electoral votes.

The “Corrupt Duopoly” that journalist Tom Friedman labels the current political elite has become very effective at limiting third-party efforts to break through. This may be a good thing when compared to the multi-party systems in Europe that require odd coalitions to form governing majorities.

This election year has all the elements to provide a surprise for the first time in many years.

Intelligent Collector blogger JIM O’NEAL is an avid collector and history buff. He is President and CEO of Frito-Lay International [retired] and earlier served as Chairman and CEO of PepsiCo Restaurants International [KFC Pizza Hut and Taco Bell].