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Category Archives: economy
Obama Hearts the “Gang of Six” Plan
President Obama was quick to endorse the latest deficit reduction plan, the one from the so-called “Gang of Six” released yesterday, calling it a “very significant step” and “broadly consistent with the approach he has advocated.” This without knowing the … Continue reading
Posted in budget, Congress, economy, health care, Medicaid, Medicare, Obama, Politics, Social Security, Taxes, Unemployment
Tagged Alternative Minimum Tax, CLASS Act, corporate tax cuts, deficit reduction, economic growth, Gang of Six, marginal tax rates, Medicaid, Medicare, Obama, overseas profits, Pentagon, Social Security, spending caps, supply side
2 Comments
9.2% Unemployment is Fiction, 16.2% is Reality
Economic Populist has a graph showing why the “official” unemployment rate of 9.2% should be disregarded as a disingenuous statistic intended to make the unemployment picture look better than it actually is, and why the U6 rate of 16.2%—which includes … Continue reading
Posted in economy, Politics, Unemployment
Tagged 16.2%, 1800 workers, Economic Populist, Ford, JOLT, Louisville assembly plant, U6, unemployment
1 Comment
Confidence, Schmonfidence
Whenever I see a discussion about the real crisis this country faces—that would be unemployment, not the manufactured one over the deficit– a couple of words keep coming up from the alleged smartest guys in the room, confidence and certainty. … Continue reading
Posted in economy, Unemployment
Tagged certainty, confidence, David Cote, FDR, Honeywell, John Kasich, Meet The Press, Obama, outsourcing, press conference, regulation, roundtable, taxes, union busting
2 Comments
The More Things Change…
…the more they stay the same. FDR, 1936: “In 1776 the fight was for Democracy in Taxation. In 1936 there is still the fight. Mister Justice Oliver Wendell Holmes once said ‘taxes are the prices we pay for civilized society’. … Continue reading
Remember Unemployment?
I know it’s not high on our elected officials’ priority list right now, if it’s even on the list at all, but it’s still around. A little thing called unemployment. Remember that? A few statistics the actors in the debt … Continue reading
Unemployment Numbers Don’t Matter? Wanna Bet?
What was that again, Mr. Plouffe? People won’t vote based on the unemployment rate? “A slipping economy has Floridians moving away from President Barack Obama and warming up to Republican Mitt Romney, a Sunshine State News Poll shows. The survey … Continue reading
Posted in economy, Obama, Politics, Unemployment
Tagged economy, Florida, Obama, Romney, Sunshine State News Poll, unemployment
1 Comment
Why Is This So Damn Difficult?
This is so simple it’s ridiculous. The three major causes of the dramatic increases in debt and deficit are: 1) The Bush, now Obama, tax cuts. 2) The wars in Iraq and Afghanistan. 3) The financial collapse caused by Wall … Continue reading
Posted in Afghanistan, budget, economy, Iraq, Medicare, Obama, Politics, Social Security, Taxes, Unemployment, Wall Street
Tagged $2.2 trillion, Afghanistan, American Society of Civil Engineers, Austan Goolsbee, Bush tax cuts, businesses, certainty, customers, debt, deficit, demand, financial transaction tax, free trade agreements, infrastructure, Iraq, jobs, Medicare, patent process, President Obama, Social Security, Wall Street
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The Deficit Reduction Dog and Pony Show, Cont’d
Further proof that the deficit reduction talk in DC is just a dog and pony show: “In a Wednesday news conference, the president especially pounded a depreciation provision for corporate jets, mentioning it six times. “I think it’s only fair … Continue reading
Posted in Deficit, economy, Obama, Politics, Taxes
Tagged Bush tax cuts, corporate jets, deficit, dog and pony show, hedge fund managers, president, press conference
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It’s the Demand, Stupid
Bill Clinton blathers: “President Bill Clinton says the nation’s corporate tax rate is “uncompetitive,” and called for a lower rate as part of a “mega-deal” to raise the debt ceiling. “When I was president, we raised the corporate income-tax rates … Continue reading
