Political Wire’s “Correction of the Day”
Via Political Wire: “Over the last 15 months we’ve created over 2.1 million private sector jobs. (Laughter.)” – President Obama, in an official transcript of a fundraising speech this week. The transcript was later corrected by replacing “Laughter” with “Applause”. Dude. I am “applauding” so hard right now that I snorted a little.
How The GOP Sabotages Obama’s Brilliant Economy.
And now Obama says he’s not worried about a double-dip recession. Easy for him to say: For Americans not feeding at the government trough, the first recession never ended. We are witnessing the total failure of academic Keynesian economics, with its heavy emphasis on high taxes and exorbitant government spending. -Michael A. Walsh (NY Post) So Harry Blodget of Business Insider asks what the Democratic | Read More »
The Infamous, Updated, Romer-Bernstein Chart.
Via James Pethokoukis comes an updated version of the graph (originally created by Obama’s economic advisers Christina Romer and Jared Bernstein) that has been succinctly countering (for years) any and all attempts to argue that the misnamed ‘stimulus’ worked: For those without access to the picture: it’s a modified version of this graph, which was used to sell the idea that with a stimulus, unemployment | Read More »
What You Won’t Be Hearing
“As you continue to watch the news coverage of the deteriorating economic climate, just remember that most of the premises that will be made and enunciated are that the government must do more, not less.” In all of the discussions about our current economic state, a possible regression or double dip recession, out-of-control debts, and continued high unemployment there is one conversation those who frame | Read More »
Notes From “The Food Stamp Recovery”
In case you missed it, Jay Cost had a great piece on Friday on “the Food Stamp recovery”, laying out the ways in which the currently-underway “recovery” is the weakest in memory. His bracing conclusion? [I]f the economic recovery does not begin to show substantial improvement, the likes of which we have not really seen in the last two years, and if the GOP nominates | Read More »
Obama’s Business Blackmail
Business leaders better kowtow to the Obama administration or else his bureaucrats will cut off the company’s ability to do business with the government. Since the government controls so many industries now, through regulations, threats and other means, these actions can destroy private companies. The Wall Street Journal’s Alicia Mundy reports that business leaders are anxious over this development: A government attempt to oust a | Read More »
The Last Two Years Have Been Like A Fairy Tale
Cross-Posted: TobyToons.com (Conservative Political Cartoons)
Some depressing benchmarks on the country’s economic status.
There are two very simple questions that need to be asked over the next eighteen months. The first is, Are you better off than you were four years ago? If the answer is “Yes,” the second question is even more blunt: Really? How are you managing that? March ’07 March ’11 Unemployment Rate 4.40% 8.80% Gas price (per gallon) $2.56 $3.60 National Debt 8.84 trillion | Read More »
The Party is Over
“I am sorry that I’m the guy that has to be here at the time when the party’s over.” That’s a quote from Governor Chris Christie in response to a state employed police officer who was angry at potentially losing future raises as well as being asked to contribute more to his health benefits in order to close huge budget deficits in New Jersey. The | Read More »
Jeffrey Immelt and Conflict of Interests
When the stimulus passed just two short years ago, a lot of special interests piled on to try and grab some of the dough that was being doled out. General Electric was part of that group. From American Spectator: On February 17th of that year, Obama had signed the stimulus bill, which included $24.9 million in grants that would flow directly to GE, with roughly $20 billion | Read More »
Greg Mankiw advises the Obama living in his head.
I feel sorry for Greg Mankiw: I really do. Here he is, living a life that allows him to place articles in the New York Times – which is not a bad place to be – and he publicly mucks it up by publishing a piece that crashes and burns on the first word of the title. The title is “How to Break Bread With | Read More »
Obama retreats on tax hike.
It looked that way earlier in the day, and it’s now confirmed. The ‘deal’ will be that the White House ‘delays’ raising taxes for two more years in ‘exchange’ for getting a thirteen-month extension on unemployment benefits*. That last is problematical, but given the Democrats’ moral weakness thus far the GOP might still be able to keep pushing a little and get offsets in federal | Read More »
The Democrat’s “middle class tax cut” is a populist red herring
From the diaries, by Erick I want to make my priorities clear from the start. One: middle class families need permanent tax relief. And two: I believe we can’t afford to borrow and spend another $700 billion on permanent tax cuts for millionaires and billionaires. That is a line from President Obama’s weekly radio address last week. He’s referring to the coming tax hikes as | Read More »
Looming Obama Tax Increases Will Hit Working Americans Right Where it Hurts Most
Talking of “Bush tax cuts” at this point, as so many seem to do when discussing the change in tax policy set to go into force this coming New Years Day, is beyond absurd. What’s coming on Jan. 1, 2011 is the Obama Tax Increase — no less than the largest tax increase in our history, courtesy of a president who, last Tax Day, declared | Read More »
Coffee and Markets: Obama’s Economy is Up for a Vote
Download Podcast | iTunes | Podcast Feed Note to Redstate readers: starting next week, we’ll be posting our popular Coffee and Markets podcast here on a daily basis for your enjoyment and edification. We hope you’ll listen and enjoy. In today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the the latest Wall Street numbers, China’s | Read More »