Lefty David Leonhardt has a piece in the New York Times that, surprisingly supports the idea that tax cuts can be used to restart the economy. While he gets some of it right, like where these tax cuts can be directed, he deliberately understates the effects of both the Reagan and Bush tax cuts, and distorts the history of both. Plus, he acts as a | Read More »
Sometimes, ya just gotta do it, even if it makes you feel dirty. Reading Paul Krugman that is. Take today’s column; according to Krugman, the money we Americans earn for our work, whether it’s in our own businesses or from an employer, is actually the federal government’s money. How else can one explain this sentence: But these same politicians are eager to cut checks averaging | Read More »
New York Times columnist Paul Krugman has been whining for well over a year that the $787 billion Porkulus (which was rescored by the CBO to $862 billion; plus, neither of these figures factors in the accrued interest for this spending since it’s all borrowed money, so the total will be higher) wasn’t large enough to have fixed America’s economic problems. He did again yesterday | Read More »
Mr. Bernstein from Citizen Kane: Well, it’s no trick to make a lot of money… if what you want to do is make a lot of money. It’s also no trick to win a political campaign…if what you want to do is win a political campaign. But once that’s won, the winner actually has to do something; in the case of Barack Obama, he was | Read More »
From the Bureau of Labor Statistics: Nonfarm payroll employment was little changed (-36,000) in February, and the unemployment rate held at 9.7 percent, the U.S. Bureau of Labor Statistics reported today. So, we lost 36,000 more jobs in February, but the unemployment rate is unchanged? I suppose that’s better than what they said in January when 20,000 additional jobs had been lost but the unemployment | Read More »
Like many Democrats, statists, and leftists, our illustrious Constitution expert law professor of a President believes the U.S. Constitution is a “living” document. In theory, this allows the 223-year old Constitution to change with the times; in practice, it undermines the Constitution as it renders as meaningless the words within it. Yesterday, Teh Won had this to say on the 1-year anniversary of Porkulus: So | Read More »
If you’re prescribed blood pressure medication, take it now before watching. As Ace points out, there is math in the video. Don’t let it worry you and stay with it. In fact, the math is what sets the point made in the video in complete context. Before you see it, remember who is in charge of the Treasury. Remember who had been previously in charge | Read More »
…moron. Or, more accurately, morons. Cassy Fiano makes this very pertinent point: Let’s recap the current economic state of our country. Our deficit has been quadrupled in one year. The unemployment rate is in double digit territory, the highest its been since 1982. We’ve lost 16,000 jobs a day since the stimulus package was passed. The public debt is around $11 trillion. Teh Won has | Read More »
Omigod!!! Gee, why hasn’t anyone thought of that before?!? I mean other than all those times the Bush administration wanted to reform these money toilets? All I can say is, “DUH!!!” Rep. Barney Frank (D-MA) wants a single agency to replace Fannie Mae and Freddie Mac to handle the flushing of the financial system further into the crapper. Of course, this isn’t reform. What Frank | Read More »
The Obama administration has decided to double-down on its class warfare and populist schtick in the wake of the loss of the Democratic filibuster-proof majority in the Senate with the win of Senator-elect Scott Brown. Teh Won has called on Congress to pass a 10-year tax on banks that received TARP money, even if the money, plus interest, was paid back; the cost to the | Read More »
The One will be out and about to talk about Porkulus today: President Barack Obama is trumpeting a new White House estimate that his top economist calls “stunning”: His stimulus plan has already created or saved up to 2 million jobs. Here is the report from the White House. As mentioned the other day, the Obama administration has decided that projects funded through Porkulus would | Read More »
ABC’s Jake Tapper notes the administration’s mishandling of jobs figures that have come out of Porkulus: The Obama administration has taken some heat and mockery for using the nebulous and non-economic term of jobs being “saved or created” by the $787 billion stimulus program. I can understand that. Especially with all the money being funneled into non-existent Congressional districts and zip codes, along with the | Read More »
About a year or so ago, Secretary of Goldman Sachs the Treasury Henry Paulson warned the country about the nature of toxic assets, those securities, valued in the trillions of dollars, that were so dragging the entire financial industry into the toilet and the country towards another economic depression, forcing the government to bail out several banks, bail out insurance giant AIG, and bail out | Read More »
During his less-than-stellar press conference last night, President Barack Obama touched on the announcement of Tax-Evader-In-Chief Treasury Secretary Tim Geithner’s plans to get the American financial and credit systems back on track: And so tomorrow my Treasury Secretary, Tim Geithner, will be announcing some very clear and specific plans for how we are going to start loosening up credit once again. And that means having | Read More »
Rep. Jim Cooper (D-TN) is one of the 11 Democrats in the House to vote with every Republican against H.R. 1, the Multi-Generational Theft “Stimulus” American Recovery and Reinvestment Act. Cooper and about 50+ other Blue Dog Democrats signed a letter critical of Speaker Nancy Pelosi’s (D-CA) methods of ramming this bill through. He went so far as to admit on the radio Sunday: …the | Read More »
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