William McGurn has must read Op Ed in today Wall Street Journal detailing the fiction of the Obama Administration’s jobs “saved or created” statistics: Tony Fratto is envious. Mr. Fratto was a colleague of mine in the Bush administration, and as a senior member of the White House communications shop, he knows just how difficult […]
Stimulus
Unemployment Hits 9.4%
The unemployment rate rose to 9.4 percent in May, its highest rate since July 1983, up from 8.9 percent in April: WASHINGTON (Reuters) – U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was the most definitive evidence the economy’s […]
Holy Crap: $12.8 Trillion Spent, Lent or Committed???
From Bloomberg News: March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s. New pledges from the Fed, the Treasury Department and the Federal Deposit […]
Stimulus Bill’s Healthcare Provisions Hazardous to Your Health
Buried in amongst all the questionable spending and policy provision of the democrats Stimulus plan is what amounts to a socialized medicine Trojan Horse. The bill calls for, among other things, the creation of a new government bureaucracy, called the National Coordinator of Health Information Technology. The goal of the new bureaucracy is to reduce […]
Smoot-Hawley Rides Again???
The Washington Post has a detailed report on protectionist language in the Democrat’s pork laden stimulus bill that could trigger a trade war: The stimulus bill passed by the House last night contains a controversial provision that would mostly bar foreign steel and iron from the infrastructure projects laid out by the $819 billion economic […]
House Republicans Hold the Line
The Democrats pork laden “stimulus” bill passed the House 244-188… Republicans held the line not one them voted for it. 11 Democrats joined 177 Republicans in voting against it. It’s about time Republicans showed a little testicular fortitude. Now it’s on to the Senate… What are the odds the Republicans there will hold the line?
WSJ: You Won’t Believe What’s in That Stimulus Bill
Stimulus plan my ass: In selling the plan, President Obama has said this bill will make “dramatic investments to revive our flagging economy.” Well, you be the judge. Some $30 billion, or less than 5% of the spending in the bill, is for fixing bridges or other highway projects. There’s another $40 billion for broadband […]
House Republicans Ready to Walk Away From Stimulus Negotiations?
The Politico is reporting that House Republicans Leader John Boehner and Whip Eric Cantor are urging caucus members to oppose the Democrats pork laden economic stimulus bill when it comes to the floor on Wednesday. President Barack Obama is coming to the Capitol this afternoon to curry favor with congressional Republicans. But it appears GOP […]
Crash & Burn: Harry Reid’s $56 Billion Stimulus/Oil Shale Ban Bill Augers In.
Reuters is reporting that Harry Reid’s $56.2 Billion economic stimulus/oil shale ban bill has failed in the Senate: WASHINGTON (Reuters) – The Senate on Friday blocked a $56.2 billion economic stimulus package that would have extended unemployment benefits, increased food aid and funded new construction projects to create jobs. The 52-42 vote fell short of […]