Category: Economy

Guess Who’s Fault The US Downgrades Is

Posted on by William Teach

Surprisingly, not Bush’s. But, that is sure to come soon. Instead, George Soros funded Matthew Yglesias goes with Boehner’s Folly Leads To S&P Downgrade of US Debt Yes, Boehner is the Villain! I’m no expert, we could probably stop after Matthew’s first three words but I don’t think S&P downgrading its rating of US debt […]

 

Wall Street: Don’t Let Facts Get in the Way of Obama’s Birthday Parties

Posted on by Jane Jamison

Cross-posted on UNCOVERAGE.net The pantie-wetters on Wall Street were craving just one good thing, anything, before heading off to double martinis on Friday….so the Obama administration obliged by monkey-wrenching a tiny decrease in unemployment.

 

Big Government Burns Through Most of Debt Ceiling Increase in 1 Day

Posted on by Dave Blount

How long will the massive rise in the debt ceiling last? Not long: U.S. debt shot up $239 billion on Tuesday — the largest one-day bump in history — as the government flexed the new borrowing room it earned in this week’s debt-limit increase deal. The debt subject to the statutory limit shot way past […]

 

Unions: On the Outside Looking In At Political Power?

Posted on by Warner Todd Huston

Since Obama began his run for the White House he has been Big Labor’s best friend. And they loved him for it, too. As Obama ran and as soon as he got into office the unions had stars in their eyes. They thought that with a bought and paid for president in their hip pocket, […]

 

Obama’s New CAFE Standards Will Cost Us All More Money

Posted on by Warner Todd Huston

The Obama administration has been touting new Corporate Average Fuel Economy (CAFE) standards to be imposed on America’s automobile manufacturers saying that it will save all Americans money at the pumps. Unfortunately, there are all sorts of hidden costs of which the administration isn’t noting, costs that will drive up the price of driving in […]

 

Is The Stock Market Plunge Obama’s Fault?

Posted on by William Teach

It’s an interesting question, in which Roger L. Simon wonders whether Obama should resign, and puts it this way The worldwide market plunge since the signing of the U.S. debt agreement tells us one thing above all: Almost no one on the planet has confidence in the leadership of Barack Obama. A CEO with such […]

 

Bad News: Democrats Will Focus On Jobs Again

Posted on by William Teach

And we all know what happens when they actually focus on jobs: things get much worse. Then they get distracted by a shiny abortion or something, and things slowly get worse The debt ceiling crisis barely was averted Tuesday when President Barack Obama and other top Democrats were ready to change the subject. Obama offered […]

 

A Brief Analysis Of Why The Economy Is So Crummy

Posted on by John Hawkins

If you talk to 10 different economists, you’ll probably hear 10 slightly different theories as to why the economy is and has been so mediocre throughout the Obama presidency. For whatever it’s worth, here’s my explanation. #1) The economy was riding a housing bubble that was being driven by shaky loans encouraged by the government. […]

 

The Loser in the Debt Farce

Posted on by Dave Blount

While the establishment punditocracy squabbles over who won, it’s clear to everyone else who lost in the Boehner/Reid/Obama debt debacle: America. The stock market responded to the RINO sellout to Cloward-Piven tax and spend Democrats by tanking: Stocks were lower in choppy trading Wednesday, following a handful of tepid economic news and amid growing uncertainty […]

 

Left-Winger Robert Reich Despondent Over Obama Failure

Posted on by Warner Todd Huston

Robert Reich, former Secretary of Labor under Bill Clinton, lefty political commentator, and so-called “economist,” is despondent over the failure of President Obama to “tell Americans the truth” about the budget debate now coursing through Washington D.C. Reich is very typical of how the far left in American politics is furious at Obama’s constant failure […]

 

If You Thought The Debt Deal Was The End Of The Fight….

Posted on by William Teach

…..sorry, no, it could bring on an even bigger fight, per Reuters Kevin Drawbaugh: Analysis: Storms ahead as debt deal sets up tax fight If Congress passes the debt ceiling deal by Tuesday, as expected, it could trigger a battle over tax reform within weeks and turn Washington once again into a dateline for deadlock. […]

 

Thought Of The Day: The Idea That Government Spending Drives Economic Growth Should Be Dead

Posted on by John Hawkins

If government spending were enough to make the economy hum, we should already have the fastest growing economy on earth. The fact that the economy’s limping along while we’re spending so much borrowed money that it’s pulling us towards bankruptcy should be enough to kill the whole Keynesian stimulus idea dead as a doornail.

 

The Union Job Security Act Equals Endless Road Construction

Posted on by Rachel Alexander

Have you noticed how there is more road construction than usual lately, which never seems to end? In some states it has gotten so bad their departments of transportation have set up road closure email alerts on each highway. This is a direct result of President Obama’s stimulus spending. Last summer, Obama proposed spending $50 […]

 

Illinois Budget Deficit: Worst of the Worst

Posted on by Warner Todd Huston

Illinois ended 2010 as the most indebted state in the union. Sadly, not a thing has been done so far in 2011 to make it better. Instead, it will get worse. As State House News reports, the state rings in at number 50 in the nation’s most broke states. Illinois owed $37.9 billion more than […]

 

Union Member Fined $300K Just for Finding Work!

Posted on by Warner Todd Huston

The lesson: if you are a union member, better to sit on your rear-end and do nothing than find gainful employment. A poor Chicago-area carpenter who was sick and tired of waiting for his useless union to find him work struck out on his own and got a job with a non-union shop. Big mistake. […]

 

When MSNBC Says A Double Dip Recession Is Here….

Posted on by William Teach

Then things are quite a bit worse then they appear. Douglas A. McIntyre provides 10 signs the double-dip recession has begun Friday’s news on GDP shows the double dip has arrived – an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt […]

 

Debt Deal Winners And Losers

Posted on by William Teach

Over at the Washington Post, Chris Cillizza breaks down the winners and losers in the debt deal. Here are a few of his winners Tea party: There were major questions coming into the 112th Congress about who would blink first – the largely establishment-aligned leaders of the new Republican House majority or the tea-party-aligned freshman […]

 

A Real World Example: How Liberals Drive American Jobs Overseas

Posted on by John Hawkins

Over at Hot Air, they have an absolutely fantastic story about how liberals end up driving American jobs overseas. This is a story the Left could learn a lot from if it paid attention. Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 1/2 years […]

 

PIMCO Chief: US Credit Rating Will Get Downgraded Regardless Of Deal

Posted on by William Teach

Hmm, hasn’t President Snippy Pants been running around, scaring people, telling them the US credit rating will get downgraded if Someone Else doesn’t put a deal together? Not so fast, “according to PIMCO founder and managing director Bill Gross” When asked by CNN host Ali Velshi on Sunday whether the U.S. deserved to maintain its […]

 

Gays, Media, Ignore MSNBC Talker’s Gay Slur

Posted on by Warner Todd Huston

We all know that the Old Media is filled with double standards where it concerns treatment of conservatives and liberals. Last week we found yet another example of the media’s penchant to hypocrisy when a talking head on MSNBC used a derogatory term associated with gays yet the entire militant gay establishment and their pals […]

 

A Few Things Illinois Needs to know about the Debt Crisis

Posted on by Warner Todd Huston

The debt crisis is a national disaster, of course. But Illinois will likely be affected worse than many other states. For one thing, Illinois is the most broke state in the union and will be affected more immediately by the mess that is our national economy than any other state. But, as Fox Business network’s […]

 

Is There A Tentative Compromise Debt Deal?

Posted on by William Teach

ABC News is reporting that there is tentative debt deal, per “congressional sources”. Here’s the deal they are reporting, according to both Dem and GOP sources A debt ceiling increase of up to $2.1 to $2.4 trillion (depending on the size of the spending cuts agreed to in the final deal). They have now agreed […]

 

Shocker! Economy Falters Dramatically In First Quarter

Posted on by William Teach

I know, I know, you’re saying “how could that possibly happen after two years of far left Keynesian economic policies?” The economic recovery faltered dramatically in the first half of the year, and that means more trouble ahead. The latest Commerce Department figures show that the nation’s economic output was gasping for breath long before […]

 

How Barack Obama is destroying the American economy in two nauseating charts

Posted on by Doug Ross

You don’t need to be a math major to understand these devastating charts (slightly modified from the originals to depict the beginning of the “one-time, emergency Stimulus”): …next time Obama or his allies in the press go back to the well and recite the well-worn verse that spending is all the other guy’s fault, take […]

 

Man With No Plan Ramps Up PR In Debt Debate

Posted on by William Teach

President Snippy Pants is doing what he does best: voting present, then giving speeches As House Republicans slog toward a Thursday vote on raising the debt ceiling, President Obama and his staff have hit the airwaves in a massive, all-hands-on-deck public-relations effort to turn the tide of political opinion in their favor. All told, the […]

 

University of California Expands Diversity Bureaucracy While Cutting Back on Education

Posted on by Dave Blount

Money is so tight in the Age of Obama that even government-sponsored universities have been forced to cut back — especially in California, where Governor Moonbeam et al. are shoveling financial aide at illegal aliens who are committing a crime just by being in the country. Like the state government, the University of California is […]

 

Just How Big Is The Federal Government? Over 100 Million Checks Sent Out Each Month

Posted on by William Teach

Consider: the population of the United States is a bit over 311 million, yet, we start off with Obama unintentionally telling us that government is too damned involved in American life If nothing else, the crisis over the debt ceiling is reminding the country of the astonishing reach of the federal spigot, encapsulated by a […]