Tag Archives: cuts

Fun in Functional

BY JOHN FEEHERY
Reprinted from TheFeeheryTheory.com

Last night, as I welcomed a group of executives from the American Public Transportation Association, I said the following:  “Welcome to Washington, where we put the fun in dysfunction.  Well, at least it is fun for us.”

I then pointed out, “most economists think that the best thing you can do for the American people is to come up with a short-term plan to boost economic growth and a long-term plan to deal with our long-term fiscal crisis. What did the politicians do? They came up with short-term plan that could stall Continue reading →

Better Storm Drains for All

BY RICH GALEN
Reprinted from Mullings.com

It is now likely that a deal will not be reached between now and December 31 to avoid the fiscal cliff. Before you become an economic prepper and start stocking up on canned goods and extra Tequila, remember I also thought Mitt Romney would win the election.

If we do tumble over, the automatic sequester – spending cuts – kick in and everyone is looking for the worst-case scenario of what services will be lost to old folks, young folks, sick folks, and all the other folks in the United States. Continue reading →

The Gaffe That Keeps On Giving

BY RICH GALEN
Reprinted from Mullings.com

Two weeks ago the Department of Labor’s Bureau of Labor Statistics dropped a bomb on the Presidential campaign of Barack Obama when it released data showing only 66,000 jobs had been created in May – far below estimates – and that the top-line unemployment rate rose from 8.1 to 8.2 percent.

This past Friday at a press conference, in response to a question about the GOP’s contention that it is his Administration’s policies that are strangling job growth, President Obama said, “the private sector is doing fine.”

He went on to explain that the rise in unemployment is largely due to budget difficulties at the state and local government level because mayors and governors are not getting the “kind of support they need from the federal government.” The federal government needs to send money to states and cities so those governments can hire more people. People who may do important work, but create nothing.

A few short hours after Obama had essentially proclaimed the return of prosperity for private industry, Bloomberg.com was running a piece by Chris Burritt headlined, “CEOs Losing Optimism as Job Slowdown Imperils U.S. Growth.” Continue reading →