The Federal Reserve has been on a media campaign to sell its monetary policy to main street, but as the Wall Street Journal noted yesterday it hasn’t gone smoothly. Frankly, I have to wonder how the Fed will spin this mornings news about the surge in wholesale prices, which were lead by the largest jump […]
Economy
Michael Moore: This Week’s Biggest Idiot In American Polictics
Michael Moore is moron, I’ll let the indispensable Mary Katharine Ham explain why: http://www.youtube.com/watch?v=sbwMPzbzVJM Heh, never mind the math, this might come as a surprise to a good socialist like Mr. Moore, but it’s not your money or the governments money to confiscate Michael. Related There Aren’t Enough Millionaires – Kevin D. Williamson, National Review […]
Rand Paul Injects A Little Sanity Into Senate Debate Over Spending
If you read only one thing about how just out-of-control government spending has gotten and why it’s so difficult to actually make real, meaningful budge cuts, read Rand Paul’s floor speech from yesterday! Here’s the video: You can read the full transcript on Senator Paul’s web site… Here’s an excerpt: We are discussing and debating […]
Ouch: Federal Government Posts Largest Monthly Deficit Ever
Wow, when it comes to deficit spending Barack Obama makes George W. Bush look like a piker… From The Washington Times: The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning. That figure tops last February’s record of $220.9 […]
White House: Hey, Let’s Tap Into the Strategic Petroleum Reserve
President Obama’s Chief of Staff Bill Daley floated what might turn out one top ten stupidest ideas of 2011 during an appearance on Meet the Press yesterday… suggesting the Obama Administration may tap into the strategic petroleum reserve as way to help ease soaring oil prices: White House Chief of Staff Bill Daley said on […]
Jobless Rate Falls to 8.9% as 192K Jobs Added
Today’s jobless report is a good news bad news thing, first the good news… From Bloomberg: U.S. employers added 192,000 workers in February, amid an improving economy and more seasonable weather, and the unemployment rate unexpectedly declined to 8.9 percent, the lowest level since April 2009. So what’s the bad news? In short the primary […]
The Fed’s Easy Money Skeptic
Mary Anastasia O’Grady has slightly disturbing interview with Philadelphia Federal Reserve bank president Charles Plosser in today’s Wall Street Journal: Federal Reserve Chairman Ben Bernanke was on Capitol Hill this week to answer critical questions about monetary policy, amid rising bond yields and sharply higher commodity prices. Mr. Bernanke showed no self-doubt, and Friday’s resignation […]
Ouch: Third Quarter GDP Just 2.0%
If Democrats were hoping for good news on the economy leading into Tuesday’s elections they didn’t get. Third GDP came in at an anemic 2.0%: The U.S. economy grew at a 2 percent annual rate in the third quarter as consumer spending climbed the most in almost four years, a sign the expansion is developing […]
Hey Big Spender: Pelosi Led Congress Has Added $5 Trillion to Debt Since 2007
From CNSNews.com: When Rep. Nancy Pelosi (D-Calif.) gave her inaugural address as speaker of the House in 2007, she vowed there would be “no new deficit spending.” Since that day, the national debt has increased by $5 trillion, according to the U.S. Treasury Department. “After years of historic deficits, this 110th Congress will commit itself to […]
Big Spender: Obama Has Now Borrowed $3 Trillion
From CNSNews.com: It’s official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department. It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to accumulate a total of $3 […]
Health Care Reform Bending the Cost Curve Upward in Connecticut
I suppose this is one of times were I could say I told you so, but I won’t. Throughout the debate on health care reform President Obama and Congressional Democrats lectured us about how passing their health care reforms would bend the cost curve downward… It was bullshit and we’re starting to see the effects […]
Video: The Truth About Our Jobs Crisis
The folks over at Bankrupting America have produced a video and infographic that really puts our current jobs crisis in perspective: I really can’t add anything here other than pointing you to a rather chilling analysis from Investor’s Business Daily: U.S. Won’t Recover Lost Jobs Until March 2020 At Current Pace. This election is probably […]
U.S. Economy Loses 95,000 Jobs in September, Unemployment Remains at 9.6%
Stagnation… That’s really the only way to describe today’s jobs report. The U.S. economy shed 95,000 more jobs last month and the number of underemployed grew by 612,000, and now stands at 9.5 million people: WASHINGTON (MarketWatch) — The U.S. economy lost 95,000 nonfarm jobs in September as local and state governments shed positions at […]
It’s the Spending, Stupid
If a picture really is worth a thousand words… Then this chart from the Heritage Foundation says it all: Bottom line; we’re not under taxed… The government spends to much! H/T: James Pethokoukis.
This & That: It’s the Spending, Stupid; Why It’s Time for the Tea Party; Bush Tax Cuts Benefited Taxpayers at Every Level; and More…
I’ve been pretty remiss about writing lately, I’ve just had too much on my plate and I haven’t felt like I’ve had much to contribute… Anyway, here’s a few must reads from the week that was… The Wall Street Journal last week published two columns that are absolute must reads, first is Daniel Henninger’s Op-ed […]