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 »
This is what we get from a new House Republican majority? Call me naive, but from the onset of this legislative session I really expected we would witness some transformational change in the way Washington does business. That was obviously a foolish expectation. GOP leaders agreed last night to pass the omnibus bill with largely the same provisions as the one they introduced yesterday. After | Read More »
The much anticipated November jobs number have been posted. Here is a rundown of some of the highlights: Jobs created in November: The net increase in new jobs this month was 120,000. There were 140,000 jobs added to the private sector, while the public sector shed 20,000. The U3 unemployment number dropped from 9.0% to 8.6%. In more good news, September’s numbers were revised up | Read More »
As the tumultuous year of 2011 winds down, Congress will be facing a number of crucial budget deadlines. Aside for the supercommittee deadline to find $1.2 trillion in deficit reduction (over ten years), they must contend with the December 31 expiration of three provisions of the 2010 tax extenders deal; payroll tax cuts, unemployment benefits, and ethanol subsidies. Now the Washington Post is reporting that | Read More »
Let’s forget the fact that Obama’s entire Stimulus 10.0 is a counterintuitive proposal that doubles down on the very failures that precipitated this speech. Let’s also disregard the fact that enshrining unemployment insurance as a permanent handout will perpetuate unemployment. And more union-induced, short-term money drops on infrastructure will do nothing but stimulate traffic jams. Let’s focus purely on the very numbers that the administration | Read More »
Throughout the entire debt ceiling imbroglio, Democrats incessantly regurgitated the talking point about the need for “a balanced approach.” They were so uniform and synchronized that they sounded like the sheep in Animal Farm. Ironically, their idea of a balanced approach was singularly focused upon Oil Company and corporate tax deductions, which are negligible compared to the crushing debt. The targeted oil tax deductions would | 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 »
While Obama has spent the past two years pandering to leftist dictators in Latin America, he has also impeded ratification of free trade agreements with our allies. Along with Democrat leaders in Congress, Obama has refused to approve the 5-year-old trade pacts with Columbia, Panama, and South Korea unless Republicans agree to renew a trade subsidy program known as Trade Adjustment Assistance (TAA). Yesterday, Senator | Read More »
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