This is a stunning indictment from the leader of one of America’s most successful technology companies: Unless government policies are altered, he predicted, “the next big thing will not be invented here. Jobs will not be created here.” The U.S. legal environment has become so hostile to business, Otellini said, that there is likely to be “an inevitable erosion and shift of wealth, much like | Read More »
Note that the question here is why he’s out to get construction jobs per se. It’s already clear that the Senate Democrat leadership is deeply in love with measures that destroy jobs – be they tax increases, employer mandates, more stringent regulations, costlier electricity, empowerment of unions, etc. But all those things destroy jobs on more or less an equal opportunity basis; they’re just about | Read More »
I’ve written before about the glowing coverage Barack Obama receives despite the consistently terrible economic news. Today provides yet another example: Fewer than expected file for unemployment The number of Americans filing initial unemployment claims fell sharply last week, while those filing ongoing claims rose to another all-time high, according to government data released Thursday. There were 565,000 initial jobless claims filed in the week | Read More »
George Bush would have killed for coverage like this. Considering the surprising strength of the economy in the wake of the September 11 attacks, he’d be posing for Mount Rushmore if the press had treated him the way they are treating Obama: Job market shows some improvement …Automatic Data Processing, a payroll-processing firm, said private-sector employers cut 473,000 jobs in June, a 2.5% improvement from | Read More »
With the federal deficit spiraling out of control, with unemployment approaching 10 percent, and with confidence in the Obama economic plan waning, it might be useful to go back and look at what team Obama promised if the porkulus passed:
Given the complete collapse in the Stock Market – and Wall Street’s obvious vote of ‘no confidence’ in the new administration, it’s funny to read the plan that Barack Obama laid out for himself just two months ago: …but the markets are obviously a slightly different situation. Right now, given the sensitivities of the market, I’ve got to pay some attention to market psychology because | Read More »
I’ll let Rasmussen set it up: Democrats are still trusted more than Republicans to handle the economy by a 44% to 39% margin, but their advantage on the issue has been slipping steadily since November… In the first poll conducted after Barack Obama was elected president, the Democrats held a 15-point lead over the GOP on economic issues. In December, their lead dropped to 12 | Read More »
Both the House and Senate stimulus bills contain some pleasant-sounding ‘Buy America’ provisions, which require that all the steel used for construction funded in the bill be American-made. Rules like ‘Buy American’ may sound nice, but they are inherently unhelpful. In a global economy, what does ‘American-made’ mean? And how much of a premium should taxpayers cover to purchase ‘American-made’ products instead of others? Why | Read More »
I just had participated in a conference call with several House Republican Representatives, regarding the House Republican Economic Recovery Plan that the was debuted today. Republican Whip Eric Cantor (R-VA), Congressman Jeb Hensarling (R-TX) and Congressman Peter Roskam (R-IL) discussed the meeting this morning with President Obama, and their request that he encourage Congressional leaders to make good on his commitment to give Republican proposals | Read More »
Incoming OMB Director Peter Orszag took some flak at his confirmation hearing today, most notably from Senator Bill Nelson (D-FL). But while the continuing criticism of Obama’s economic plan will make the headlines, Orszag might also need to answer some more questions about the damage he seems to expect Obama to do to the economy.
It’s hard to find an economist or prognosticator who thinks that the economy is going to turn around quickly. It seems today that the 2010 election may be a referendum on what Barack Obama and Congressional Democrats do to restore economic growth. But rather than try to ensure that Republicans share the responsibility for the economy, it seems today that Democrats are eager to make | Read More »
James Pethokoukis points to an item in the Wall Street Journal on Democratic concerns that the timetable for the stimulus may slip as Barack Obama’s transition team fails to deliver its requests on time:
Barack Obama used his weekly radio address today to promise prompt action on a massive economic stimulus package: President-elect Barack Obama said Saturday that he had started work on a sustained, two-year economic stimulus plan designed to create or save 2.5 million jobs, funnel money toward public works programs to repair the country’s failing infrastructure and invest in alternative energy programs. Mr. Obama’s plan, which | Read More »
The lamestream media has been doing a pretty good job of shielding Barack Obama and Congressional Democrats from blame in the current credit crisis. It’s therefore no surprise that when Representative Maxine Waters (D-CA) was called out for it by Steve Moore, her first instinct was to lie:
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