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Economy Built to Last? No, Try an "Economy Built FOR Last"

Unemployment continues to be too high, debt is growing way too large, and Washington is still spending vastly too much money. That’s the true “state of the union,” but it’s not what you heard from Obama tonight. Instead, he largely ignored the harm that he’s already inflicted on the economy – the record levels of wasteful spending that has done little to jumpstart economic growth – and instead tried to sell even more stimulus spending. In essence he gave us a repackaged, reheated, but same bad tasting “American Jobs Act” that he couldn’t even get the Democrat-held Senate to vote…

Confidential Memo Reveals Some Startling Insights into Early-Obama Presidency

A piece in today’s The New Yorker called “The Obama Memos” is causing quite a stir among politicos. It is, as you may expect, about a number of memos that President Obama has used to make decisions during his term. By far the most compelling is an untitled memo from President Obama’s team of economic advisers written December 15, 2008 and headlined with the intriguing words “Sensitive and Confidential.” The New Yorker piece mainly used the memo to show just what a fiscal mess president-elect Obama was walking into. But that barely scratches the surface of its content. In this…

Budget Busting Obama Prepares for Round 3

President Obama is preparing to release his 2013 budget next month. It should be a document that sets the course for the next year, highlighting prudent cuts, addressing wasteful expenditures, and reforming some of the biggest drivers of our deficit. But this is Obama and this is an election year which means we’ll likely get the equivalent of a liberal Christmas-list chocked full of redistributist policies that involve bigger government and higher taxes. Businessweek has already reported that “Obama’s annual budget request due Feb. 6 will probably restate previous proposals” that “include[e] higher taxes for the wealthy.” Former congressional budget…

If Obama Was Honest, Senate Alone Would Get Do-Nothing Label

President Obama’s crack team of speechwriters and politlcal advisers are likely putting the finishing touches on his State of the Union speech. It doesn’t exactly take a return of Carnac the Magnificent, that “great seer, soothsayer, sage and former financial adviser of the Greek government” (in hindsight that isn’t exactly the greatest credential for someone who could supposedly see the future), to know what the President is going to say. He’s going to blame Congress. Hints for this tack have already been sprinkled over the last several months. President Obama came up with the American Jobs Act and demanded that…

Obama's Keystone Rejection Shows Election-Year Politics Trumps Jobs

If you follow Washington long enough you’ll be forced to fall into one of two camps: the cynical or the morosely depressed. The former tries its best to laugh in the face of dysfunction, carrying some nugget of belief, however small, that eventually what is good for America will become the standard by which actions are judged. This follows pretty closely to the line by Winston Churchill that “Americans can always be counted on to do the right thing . . . after they have exhausted all other possibilities.” The latter has simply dispensed with all hope. These are probably…

Doh! Obama's Hand-Picked Jobs Council Recommends Republican Approach to Job Creation

Today President Obama’s jobs council released their recommendations, and well, you’ll have to forgive us as we say “WE TOLD YOU SO.” USA Today reports: “President Obama lauded the latest report from his jobs council Tuesday, even though many of its proposals sounded like the work of Republicans. The President’s Council on Jobs and Competitiveness proposed cutting the corporate tax rate, boosting domestic energy production and reducing government regulations that hinder business.” That’s right, a panel of business leaders, hand picked by President Obama, and told to come up with a plan to create jobs, laid out a plan that…

Didn't We Just Do This? President Asks for $1.2 Trillion Debt Limit Increase

Something strange is going on. Late last week President Obama made an official request for Congress to raise the debt ceiling by $1.2 trillion. But didn’t we just do that? It just seems like yesterday that Washington was abuzz over the debate about whether to increase the debt ceiling. And unless my memory fails me a $900 billion increase to the debt limit was granted. Surely, Washington hasn’t blown through nearly $1 trillion already. And we’re still two weeks away from Groundhog Day, so unless there’s a Bill Murray sequel about the Martin Luther King, Jr. holiday that I missed,…

CBS News Identifies 11 More Solyndra's

Solyndra has come to embody everything that is wrong with government. A powerful politician, even one with the best of intentions, announces some ill-thought out plan to spend vast sums of taxpayer money to accomplish some campaign promise or far-flung dream. Understanding this to be free money, businesses line up at the opportunity. But not everybody has an equal shot. Big donors, potential allies, or old friends are given the first crack. And even then, success doesn’t really matter, after all it’s just taxpayer money were gambling with. If our losses had been confined to Solyndra it would have been…

Krugman: Nobody Understands Debt (Least of All, Me)

“So last week I switched to a fixed-rate mortgage. It means higher monthly payments, but I’m terrified about what will happen to interest rates once financial markets wake up to the implications of skyrocketing budget deficits. . . . But what’s really scary – what makes a fixed-rate mortgage seem like such a good idea – is the looming threat to the federal government’s solvency. . . . My prediction is that politicians will eventually be tempted to resolve the crisis the way irresponsible governments usually do: by printing money to pay current bills and to inflate away debt. And…

Obama's Efforts to Woo Youth Little More than Election Year Ploys

Here we go again. If there’s one thing more predictable than a Tim Tebow fourth-quarter touchdown drive, it’s a President Obama hail-mary to attract youth support. Sensing disaffection amongst his once rabid fans, the Obama political team has sprung into action to try and shore up support. First came the announcement that Obama was creating the “Greater Together” initiative, which sounds a lot more like a certain 1960s-era flower-power song than a serious attempt to woo millenials. I mean really, could these lyrics from The Turtle’s “Happy Together” be any more apt, “If I should call you up, invest a…