Tuesday, June 22, 2010

In Economic Woes 06-22

Cancelled: There Will Be No Congressional Budget This Year

Democrats of 2004 Brand Obama Worst President
According to data from the U.S. Bureau of Labor Statistics, the U.S. shed 2.3 million jobs since February 2009, Obama’s first full month in office. Going back to World War II, that is by far the worst record for any president in his first 17 months, outpacing the job destruction experienced in the early Bush years by more than 800,000 jobs.

For Obama, there is an even worse way to play the data, which might just become fodder for a political ad: From November 2008, the month he was elected, until now, the economy has shed an astonishing 4.4 million jobs. That’s worse than Hoover.

Sure, you can blame the first few months of that period on lame-duck President Bush. But perhaps companies accelerated their shedding of jobs because they were bracing for higher tax rates, increased union power and costly environmental taxes under Obama.

Other measurements are only slightly kinder to Obama. The two-percentage-point increase in unemployment rate during his presidency, to 9.7 percent from 7.7 percent, is the third-worst since World War II. Dwight Eisenhower and Gerald Ford saw bigger increases.

GDP growth under Obama, an abysmal 3 percentage points so far, is the fourth-worst in the postwar period. Eisenhower, Ford and Ronald Reagan all began their terms with worse GDP growth.
Existing Home Sales Tumble Unexpectedly in May

Hoyer: Permanent middle class tax cuts too costly

Fed Up Americans want to take scissors to the federal budget

Fixing Fannie and Freddie

This applies to everything from the environmental movement to economics - Bootleggers and Baptists

The Obama Speech We're Waiting For Fannie Mae and Freddie Mac need to get the BP treatment.

Democrats Latest Bailout Iteration

Burr: Reinstitute Glass-Steagall

US economy still in 'difficult period': Geithner

Emergency does not mean Important.

GOP sponsor may withdraw support for campaign finance bill

But here's some good news - Garden State Millionaire Tax Defeated

Is Illinois the New California?

Ideas into Actions

IMF Debunks Stimulus Jobs Projection

House Majority Leader: No Budget This Year

Tax Increases Won’t Create Jobs

Sen. Dick Durbin’s price control crusade is doomed to fail

Osborne Increases U.K. Value-Added Tax Rate to 20%

Goodbye Keynes, Hello Hoover

Borrowers trying to avoid foreclosure find help outside Obama program

An Envelope Full of Debt

Our view on real estate: Misguided housing subsidies promote unfairness, bailouts

If You Can't Budget, You Can't Govern

Show them the money: Democratic Congress can’t get its own spending approved

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