Why You Can’t Trade Taxes For Spending
Should Republicans trade tax hikes for spending cuts? Much of the debate over the current fiscal cliff standoff centers around discussions of “ratios”: Republicans will agree to X dollars of tax hikes, Democrats will agree to Y dollars of spending cuts, and so forth. Much of this discussion is based on numbers that are misleading or worse, because Washington doesn’t calculate taxes and spending the | Read More »
The Lonely Position of Neutral
I hate raising taxes. I find high tax rates immoral. However, we lost the election. An increase in revenue is inevitable. What’s perverse about this whole episode is that if we fall off the cliff – Democrats will get everything they want. They’ll get their tax increases, their revenue, and defense cuts. They would complete their decade-long project of ending the Bush Tax Cuts and | Read More »
US sending $1billion worth of F-16’s to Egypt
With uncertainty surrounding our nation’s economic stability, the Obama administration is set to send $1 billion worth of F-16’s to Egypt, while reducing our own National Defense. Despite unrest in Cairo and abroad, the United States is sending 20 F-16 fighter jets to Egypt beginning January 2013. The initiative is part of a foreign aid package that began in 2010, though Hosni Mubarak has since been removed. | Read More »
An Open Letter to John Boehner
Dear Mr. Speaker, I am afraid that in negotiating with President Obama on the pending fiscal cliff that you and the Republican leadership have lost your way. In your desire to strike a “Grand Bargain”, you risk making a “bad bargain” which will cause permanent damage to the Republican Party, alienate conservatives, and have lasting consequences for the American economy. In a desire to make | Read More »
Embrace the Cliff!
Congress: All y’all voted and passed it last year, and President Obama signed it. Please go home, enjoy the holidays, and do nothing. You’re good at that. Social Security is safe: they made a $59.3 billion profit as of September 30, the end of the Federal Fiscal Year. Grandma will keep getting her payments. although she’ll lose some on dividends and interest from all she’s | Read More »
In praise of simplicity
I am in Washington, D.C. for a few days, and while I was at a coffee shop this morning, my online news feed was full of discussions about this fiscal cliff mess: what the President is proposing, how the Republicans are reacting, whether there is any chance of a deal, how bad it will hurt our economy if we go off this fiscal cliff, whether it’s even remotely possible to avoid it, and so on.
What frustrates me is that, as usual, the debate in this town misses the main point – neither side is taking any steps to address why we’re in this mess in the first place…
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Recapping Last Week’s Economic Data; Launching PowerTalk
The first five trading days of December delivered a mixed result for the major stock indices with the Dow Jones Industrial Average being the clear winner (up 1%), the S&P 500 essentially unchanged and the Nasdaq Composite Index down 1.1%. As with the prior week, one of the key drags on the Nasdaq has been Apple, Inc. (AAPL), whose shares dropped nearly 9% last week. | Read More »
, Best Buy
, bureau of labor statistics
, Department of Labor
, Dow Jones Industrial Average
, fiscal cliff
, Mobile Payments
, s&p 500
, Wall Street
Owens to Vacation With Obama
12/1/2012 THIS JUST IN – Sources are saying that Congressman Owens (D-Plattsburgh) will be joining President Obama on his three week, $4 million vacation, courtesy of the American taxpayers…I am still waiting confirmation but will update as soon as possible. In the meantime, a quick observation – With four weeks left before we fly over the “fiscal cliff”, Mr. Owens has stayed true to his | Read More »
A Societal Conundrum in America
Why is it that in our sophisticated society we don’t have blueprint for economic success? It occurred to me that we have rules, theorems, how-to’s, etc. for everything except how to keep our economy thriving (a major exception is perhaps how to be a good parent or if one is ready to be one so let’s leave that aside). This seems so basic that a 5th grader | Read More »
Stop Falling on the Tax Cut Sword
To mix metaphors, Republicans are going to have to fall on some sword with this whole fiscal cliff jazz. All of us Conservatives would like to hold firm to not raising taxes. Reality it is, it ain’t gonna happen. Deal with it. Give the President what he wants on a tax hike. Just give it too him. Be done with it. Lest you think I am | Read More »
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Raising Taxes… in Return for What?
It’s not like we haven’t been through this recently. In fact, we’ve seen this rodeo less than 18 months ago. When will Republicans learn their lesson? Republicans came to power in 2011 promising to put a stop to Obama’s addiction to spending and growing government. They pledged to cut $100 billion immediately. They had a number of opportunities to leverage their control over the budget | Read More »
Understanding the Modern Democratic Party
Franklin Roosevelt forged the modern Democratic Party in the midst of the Great Depression. Long before Rahm Emanuel spoke of “never letting a crisis go to waste,” FDR used the economic crisis of the 1930s to bludgeon the Republican Party and unite a governing coalition that made the Democratic Party the dominant political party from 1930 to the present.* In the process, FDR demonstrated that | Read More »
Things are not as bad as they could be; however, they certainly aren’t as good as they should be. Recession? What Recession? According to the government and their media arm in the Corporations Once Known as the Mainstream Media the Great Recession ended in June of 2009. Ask anyone in line at a Wal-Mart or any other store and you will probably get a different | Read More »
Why do we need a deal?
Perhaps the best way forward for the GOP addressing the “fiscal cliff” is to play small ball and just pass bills patching specific items. One bill that extends the expansion of the family tax credit, one that preserves the 10% tax bracket, one that extends the payroll tax cut, and also bills extending the capital gains and dividend tax cuts. Clean bills that don’t do | Read More »
Unemployment on the Uptick Again?
Tomorrow is the first Friday of the month — when unemployment numbers get released. This morning, Gallup released the results of its survey. It announced that, U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup’s seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October’s rate. . The article | Read More »