Amidst Obama’s inexorable war on American energy, consumers, jobs, and prosperity, his EPA is in the process of promulgating 4 new pollution rules that will bury the coal industry and “necessarily” raise the price of electricity on American households. They are the Cross-State Air Pollution Rule, the Mercury and Air Toxics Standards for Utilities (MACT), the Cooling Water Intake Structures regulation, and the Disposal of | Read More »
In the coming days, we will invariably be subjected to a barrage of lies about the “extreme” Ryan budget. As such, it’s worthwhile to reexamine the latest version of his budget, and view it in its proper context. Here are some talking points for Soledad O’Brien the next time she wants to grill a Democrat on the Ryan budget: The budget won’t balance until 2040, | Read More »
The June jobs report from the BLS is out this morning, and the findings are not pretty. The headline number of the establishment survey is that only 80,000 net jobs were created last month, about 100k under the requisite amount to accommodate the population increase. The working-age population grew by 189k in June, according to the household survey. As such, there are now 29 thousand | Read More »
The headline number from the BLS’s Establishment Survey was an addition of 115,000 jobs for the month of April. That is a terrible number for this far into the recovery, as it fails to keep up with population growth. At this time in the Reagan recovery, the economy added a population-adjusted 480,000 jobs. So why did the unemployment rate (U3 number) drop another 0.1% to | Read More »
“The rosy predictions for revenues and reduced healthcare spending can come to fruition, but not with the current socialist policies as the baseline.” The budget season has officially commenced today with CBO’s release of its annual budget and economic outlook. Here are some of the major takeaways from the report: FY 2012 Budget The topline figure that the media will focus on is the projected | Read More »
Almost two and a half years since the recession officially ended, we are finally observing a modest recovery in the job market. Even if we discount the 42,000 new holiday season jobs for “couriers and messengers,” there is clearly some jobs growth in key sectors of the economy. Unfortunately, aside for the fact that the recovery is languid and underwhelming by historical standards, it is | Read More »
The latest CBO budget and economic outlook is using baseline assumptions that are as realistic as flying unicorns. Although they project a decade of mediocre growth and moderate deficits, even such a dismal projection is a pretentious view of reality. On the budget side, CBO’s baseline outlook portends a $1.284 trillion deficit this year, and $3.487 worth of deficits over the ten-year budget frame, from | Read More »
For those who are interested in the wonky numbers of the unemployment report, here is a brief presentation of some of the more ominous figures. The latest unemployment report shows that we are living through the quintessential Keynesian economic recovery. We are not shedding more jobs at a terribly fast pace, but, instead of adding jobs by a pace of 500-800,000, we are stagnating at | Read More »
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