Archive for Economy
Not All Gloom and Doom
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Illegal immigration has dropped 67% over the past 10 years . Meanwhile, unemployment notched up to a rate of 9.6% for August. In an unrelated move, chief economic adviser, Christina Romer, gave her farewell address at the National Press Club. According to Dana Milbank, she explained that economists don’t know why the economy stinks.
Nobody Happy
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Page Turner
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In his Iraq speech, the president blamed the war for our bad economy.
Welcome to the Recovery
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Kind of a dippy cartoon but Obama’s Recovery Summer slogan might be right up there with President Ford’s WIN buttons, and about as effective. While Biden was on the Recovery Victory Tour, Geithner was touting the economy in the NY Times.
Shelter Skelter
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Barney Frank, once said he wanted Fannie Mae and Freddie Mac to roll the dice for affordable housing. Now, after dusting off billions of dollars of rubble from the collapsed housing market, he wants Fannie and Freddie abolished.
Clunkers
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There’s not much question who was in the driver’s seat when the economy first went off-road. Bush careered between the Bear Sterns bail-out, Fannie Mae/Freddie Mac takeover, loans to AIG and GM, and the 700 billion dollar TARP. (Go here for an excellent bail-out timeline by ProPublica.) (And here’s the story in a Nov. 2008 cartoon). Obama then grabbed the wheel and put the pedal to the metal with the 800 billion dollar stimulus. At that point Krauthammer says, “Obama bought the economy”.
One Word Government
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Here’s the scene from The Graduate in 1967.
Leader of the Bandwidth
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Google and Verizon have proposed a deal that would require cable and other wired internet operators to provide equal broadband access to all customers. Wireless on, on the other hand, would be free of regulation. Here’s a WSJ editorial (You may have to be a subscriber. When I accessed this through a Google search I got the whole editorial - at no additional charge) that says it might be the beginning of a good idea. And here’s a Seattle Times column in favor of net neutrality for for everyone.
What’s My Line?
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New Math
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The House returned from vacation to pass a $26 billion bail-out for the dues paying, campaign funding, men and women who educate our children. According to USA Today, federal workers make more than you. Teachers aren’t federal workers but neither is the city manager of Bell, California (pop 40,000). He earned even more vacation and sick time than teachers, clocking in at 28 weeks, and way more in salary - $800,000 per year! He lost his job when word got out thanks to the LA Times. Now he has to make do with a $600,000 per year pension. Bail-out for California, anyone?