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Economy Tag

Posted by William A. Jacobson on April 22, 2010 15 Comments

Obama is speaking at Cooper Union, in the heart of the New York financial district, which AP describes as follows (emphasis mine): Ramping up pressure for a financial overhaul, President Barack Obama is heading to the place where the economic meltdown began to argue for...

Posted by William A. Jacobson on April 16, 2010 2 Comments

Two weeks ago, unemployment numbers were released supposedly showing a jobs recovery, leading the New York Times and others to cheer how we had turned the corner. Steve Benen at Washington Monthly declared that this was a "breakthrough month" (rah-rah).As I discussed at the time,...

Posted by William A. Jacobson on March 29, 2010 2 Comments

Don't ever say this was unexpected:So Obama is flirting with a future budget crisis. Moody's emphasizes two warning signs: rising debt and loss of confidence that government will deal with it. Obama fulfills both. The parallels with the recent financial crisis are striking. Bankers and...

Posted by William A. Jacobson on March 21, 2010 5 Comments

The housing bubble peaked in 2005. The bubble reflected a fiscal lack of reality built upon the greater fool theory, that there always would be another buyer foolish enough to pay more. (Chart via Bubblemeter) We now are on the cusp of passing a health...

Posted by William A. Jacobson on February 03, 2010 7 Comments

This exchange between Blanche Lincoln (D-Ark) and Barack Obama reflects just how clueless Obama is about the mood in this country and the damage his ideological intransigence is doing to his own party. As reported by The Hill:She also took a swipe at Obama's White...

Posted by William A. Jacobson on February 02, 2010 7 Comments

Mission almost accomplished. Fail to the Chief: Even with tax hikes and spending cuts, Mr. Obama's budget foresees a record budget deficit of $1.6 trillion this fiscal year, sliding down to $706 billion in red ink by 2014, only to begin rising again as the...

Posted by William A. Jacobson on January 26, 2010 1 Comment

The American Recovery and Reinvestment Act of 2009 (ARRA), commonly called the Stimulus Plan, is widely discredited as having done little to stimulate private sector job growth.But one thing the Stimulus Plan has created is long-term deficits. The Congressional Budget Office just released a budget...

Posted by William A. Jacobson on January 01, 2010 5 Comments

As I posted earlier, the key elements in "green" technology are rare metals mined mostly in China. The green economy envisioned by the Obama administration as the means by which we will grow "green jobs" and lessen our dependence on foreign oil in fact simply...

Posted by William A. Jacobson on December 05, 2009 3 Comments

Barack Obama has changed his plans and now will be attending the last day of the Copenhagen climate change conference, which is viewed as a significant signal that some sort of "deal" may be in the offing:A couple of hours ago, the Obama administration announced...

Posted by William A. Jacobson on November 28, 2009 7 Comments

Politico is fast replacing The New York Times as my favorite source of screen shots. Of course, nothing yet approaches the NY Times' Nude Swiss Hikers screen shot, but give the new media time. For now, be satisfied with this ultra-obvious Politico headline: While...

Posted by William A. Jacobson on October 11, 2009 2 Comments

There is one supreme Democratic idiocy in the health care debate which has not received enough attention. The entire focus of the Democratic proposals -- whether HR3200, the Senate HELP Committee bill, the Baucus Concepts, or the Obama non-plan -- is to increase the cost...

Posted by William A. Jacobson on October 07, 2009 6 Comments

A slow awakening of our reality is sinking in on many fronts. One of those realities is that we have moved ever more drastically from a nation led by doers to a nation led by non-doers.Some formulate this as The Doers vs. The 'Thinkers' but...

Posted by William A. Jacobson on October 05, 2009 6 Comments

Barack Obama is fiddling on his grand plans to remake the U.S. health care and energy systems, while our economy and our position in the world burn. The most recent evidence of the harm being caused by our fiddler-in-chief is the move internationally to abandon...

Posted by William A. Jacobson on September 12, 2009 7 Comments

A movement is growing in Britain to slash government spending rather than impose tax increases, according to the Sunday Times:Voters are overwhelmingly in favour of cutting public spending rather than tax rises to close the budget black hole, a Sunday Times/YouGov poll finds today.Sixty per...

Posted by William A. Jacobson on August 09, 2009 4 Comments

The much ballyhooed Cash for Clunkers program has had the unintended consequences of driving up the cost of new and used vehicles and used auto parts, according to independent studies of the auto markets. The Cash for Clunkers program demonstrates the danger of government trying...

Posted by William A. Jacobson on August 07, 2009 1 Comment

The big economic news of the day is that the unemployment rate dropped one-tenth of one percent. The Obama administration is hailing this as the start of a turnaround and a sign that the stimulus spending is working, something of the end of the beginning...

Posted by William A. Jacobson on June 22, 2009 9 Comments

Want to laugh out loud? Read "Barack Obama, Deficit-Slayer" by Matthew Yglesias: As the economy recovers, tax revenues will rise, social safety net outlays will fall, and stimulus measures will begin to tamp down. If we can assume further growth in 2011, the complete expiry...

Posted by William A. Jacobson on June 20, 2009 6 Comments

(h/t MAinfo) -------------------------------------------- Take a look at Remember "Ahmadinejad Won. Get Over It." and Iran Election Fraud Truthers Emerge Follow me on Twitter and Facebook ...

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