Steve Benen wrote the post I would write if I had more time: I don't doubt for a moment that there were probably some wasteful spending projects in the stimulus package. Likewise, it seems plausible that there's some "pork" in the omnibus spending bill, too. But have you noticed how difficult it's been for conservatives to come up with real, … Read More
Boehner’s Take
Today, House Minority Leader John Boehner (R-Ohio) has a Washington Post op-ed entitled "Democrats' Diversionary Tactics": In the first two months of 2009, the Democratic Congress and the White House have spent more money than the combined cost of the Iraq and Afghanistan wars and the response to Hurricane Katrina. After they doled out taxpayer dollars at such a blistering pace, … Read More
Obama And The Stock Market
US News & World Report, yesterday: Jim Cramer, at the beginning of CNBC's Mad Money, reported that President Obama "actually said it was a good time to buy stocks," and added, "Given that it was Obama who knocked the whole darn thing down, he might have some inside information that he's done enough damage for now. … Blaming the plunging … Read More
The Recovery Logo
President Obama announced today that his administration will begin stamping an emblem on projects funded by the economic stimulus package so that people can easily recognize the effects of the American Recovery and Reinvestment Act. Blasts from the past:
Stupid Rich People
ABC News: Upper-Income Taxpayers Look for Ways to Sidestep Obama Tax-Hike Plan President Barack Obama's tax proposal — which promises to increase taxes for those families with incomes of $250,000 or more — has some Americans brainstorming ways to decrease their pay, even if it's just by a dollar. A 63-year-old attorney based in Lafayette, La., who asked not to … Read More
Best Reaction To Jindel Speech
And it speaks to both Jindel and Palin: Absent any deep thoughts, the Republicans are going to complain about waste. The high point of Jindal’s address came when he laced into “wasteful spending” in the stimulus bill, and used as an example a $140 million appropriation for keeping an eye on the volcanoes in places like Alaska, where one is … Read More
Ways To Make Money In A Bad Economy
What's up in this down economy? Gold. Gold parties are a big big thing. I've not been invited to one, but I wouldn't go anyway, not having any gold. And here's another way you know we're living in a different world economically. Gone are the commercials about making a fortune in real estate. Instead, it's commercials about — yup — … Read More
The Chicago Tea Party
For those who missed it, this is the video that went viral yesterday. It features CNBC's Rick Santelli: David Sirota said it best: Santelli was "literally on the floor of the Chicago Mercantile Exchange surrounded by multimillionaire traders railing on the Obama administration for trying to help struggling homeowners, and berating people who are getting foreclosed on as 'losers.'" But that … Read More
Dumb Idea
AP: Transportation Secretary Ray LaHood says he wants to consider taxing motorists based on how many miles they drive rather than how much gasoline they burn—an idea that has angered drivers in some states where it has been proposed. The reason, says LaHood, is that gas taxes don't cover the cost of the federal and state highway and road infrastructure. … Read More
The Obama Housing Plan
This, the most straightforward explanation I could find, is still over my head. But I think some of this applies to me. The refinancing part. I think. I'm not at risk of foreclosure or anything, but it seems to me that I could and should be doing something to reduce my mortage. I guess I'll have to see what it … Read More
What We’re Not Buying
Nate Silver points us to this government spreadsheet from the U.S. Dept. of Commerce, showing Personal Consumption Expenditures by Type of Product. If you scroll to the right, you'll eventually come to the 4th quarter of 2008. What do you see when it comes to the last fiscal quarter? Nobody's buying things: Sales of jewelry and watches were off by 7.2 percent … Read More
What Will The Stimulus Bring To Forsyth County?
According to this fact sheet (PDF) put out by the White House, 7,800 jobs will be saved or created by the stimulus package in North Carolina's 12th District. The 12th District covers most of Forsyth County, parts of Guilford County, and extends to Charlotte. The 5th District (where I actually live, just west of Winston-Salem) will see 7,700 jobs saved … Read More
Don’t You Have To Win In Order To Take A Victory Lap?
House Minority Whip Eric Cantor (R-VA) has created a YouTube video set to the tune of Aerosmith’s “Back In The Saddle” boasting that zero Republicans voted for the recovery package. The video is called “The House GOP is Back.” Watch it: I'm not quite sure that having near-unanimous opposition to the stimulus bill is a political winner. After all, the … Read More
Malkin, Idiot
I really should let this go, but I can't. Michelle Malkin today writes: On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28. In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to … Read More
The Upside Of A Bad Economy
Muzak's financial difficulties: Muzak, the company that put pop, string-filled arrangements of rock songs in your elevator, filed bankruptcy papers Tuesday after it missed a $105 million payment to creditors. The pipeline of easy listening will continue to flow as Muzak restructures its debt during the Chapter 11 process, the company said. "Muzak is a solid business with an outstanding … Read More