So our love of idolizing the yappy captains of industry has come to the point where George Kaiser controls investments, Warren Buffett controls tax-policy, George Soros controls media and organizing, T. Boone Pickens controls our energy policy and TV pundits treat the Donald’s TV reality candidacy like it’s, um, reality.
President Obama wants to spend $447 billion on a stimulus plan that will not stimulate a thing. Will any of it pass? The consensus is Expect 'Yes' on Tax Cuts, 'No' Elsewhere.
Texas Gov. Rick Perry has a problem. The GOP primary has turned into a two-man race between him and former Massachusetts Gov. Mitt Romney, it became clear during Wednesday's debate at the Ronald Reagan Presidential Library.
President Obama's approval index rating is -21, the lowest ever. Obama's sinking numbers can be explained by a CNN Poll: 8 in 10 think we're in a recession.
Eric Cantor plans to go on offense for job creation when the House convenes for business after Labor Day. In a memo to Republican members yesterday, Majority Leader Cantor outlined a strategy to reduce the tax burden on small business owners and repeal ten regulations that increase cost and stifle job creation.
The president has addressed the nation multiple times in his presidency and has, to the best of my recollection, never said anything we didn't already know. He almost said something we didn't know when he announced OBL's death--but due to his standard tardiness to his own speeches, the news had already been leaked by the time he took the podium.
In case you ever wondered how it is that Republicans do not want deficits and Democrats do not want deficits, yet we have massive and growing deficits, the following two articles will explain the reasons nicely.
This is the impenetrable wall between Socialists like Sanders and we Capitalists. We believe that people who work hard and earn money are not obligated to support the remainder of the population, and that coercing them to do so is not only bad public policy, it is ineffective.
What offended the fiscal pundits of S&P was the "brinksmanship" in Washington that failed to deliver a $4 trillion budget cut. That's why we had the "tea party downgrade." What's odd is that if the tea party didn't exist, there would have been no deficit reduction -- and little demand for it.
As recently as four months ago "Treasury Secretary Tim Geithner said Tuesday there is "no risk" the U.S. will lose its top credit rating." Early on the president was asking for a "clean" debt ceiling bill with no spending reductions at all, an idea that Democrats brought back in the days before a final agreement.
The potentates on the Potomac claim that President Barack Obama's signature on the "debt deal" solves the immediate problems created by Washington's spendthrift fiscal madness while "protecting America's future." Truth be told, it does neither. Here's why.
There is a deep ideological divide. Democrats want to start with tax increases which are anathema to the GOP. And, the closer the 2012 elections get the more difficult it will be to find a point of compromise. Neither side is inclined to budge, nor give the other any legitimate claim to victory.
"Voters will take note that Republicans, when the chips were down, voted with Nancy Pelosi and John Boehner to keep the Washington merry-go-round humming."
The debt deal, if it sticks, is a triumph for the bipartisan, status quo-clinging Washington establishment. Here is a prediction: Between now and January 2013, total actual spending cuts will be minimal.
In the end, we expect a payments shutdown to force a debt limit increase, with no default and continued rapid growth in federal spending and debt. Here's a list of possible outcomes from worst to best and our view of the market reaction. In the first three cases, we think there would be a bond rating downgrade.
CEOs are hoarding cash for their companies. The economy is barely growing. And folks are leaving the dollar for gold and foreign currencies. And with less than a week until the August 2 debt-limit deadline, Congress still dithers.
In the self-declared “Little City” where I live, a sign went up recently. It says that Falls Church plans to build one of those radar signs to alert drivers if they’re going too fast.
Every dollar of the $3.7 trillion dollars that the Federal government is scheduled to spend before September 30, 2011 has got a patron - someone who believes that dollar is not just a good and necessary expenditure; but better and more crucial than any other of the dollars the government is scheduled to spend.
Assuming there are real spending cuts in the Obama package, I wonder if it’s possible to insert a business tax cut in the deal that would repatriate foreign earnings of U.S. companies. Let’s say with a 5 percent tax holiday.
Obama offered up a fat pitch that Republicans can hit out of the park. All Republicans have to do is insist on ending collective bargaining rights of public unions and scrapping Davis-Bacon in return for very modest tax hikes. Such a deal would be well worth it. Republicans would even win if Obama rejected it.
The gulf between President Obama and a divided Congress grows ever wider as the debt-limit crisis stumbles toward a potentially catastrophic deadline.