We are the Liberal Blog From Hollywood
L.A.'s Premier Post Facility

L.A.'s Premier Post Facility

Photographer in L.A.

Hot Pics & Gossip.

Archive for March 13th, 2009

Obama on the Defensive as Stock Rebound Continues

Posted in Main Blog (All Posts) on March 13th, 2009 4:44 am by HL

Obama on the Defensive as Stock Rebound Continues

The Dow is up another 240 points, gaining 9.5 percent over the last three days, but the president doesn’t want you getting too excited about it—or too distraught when things inevitably swing the other way.

With economists and even fellow Democrats panning some of the administration’s ideas, the White House is on the defensive, despite a rare spate of upbeat economic news.

AP via Google:

“A smidgen of good news and suddenly everything is doing great. A little bit of bad news and ooohh, we’re down on the dumps,” Obama said. “And I am obviously an object of this constantly varying assessment. I am the object in chief of this varying assessment.”

“I don’t think things are ever as good as they say, or ever as bad as they say,” Obama added. “Things two years ago were not as good as we thought because there were a lot of underlying weaknesses in the economy. They’re not as bad as we think they are now.”

Read more

READ THE WHOLE ITEM

Related Entries


Harry Moroz: Not Your Mother’s Federalism

Posted in Main Blog (All Posts) on March 13th, 2009 4:43 am by HL

Harry Moroz: Not Your Mother’s Federalism
Matt Yglesias at Think Progress has a good synopsis of a new Democracy article that both points out the importance of metropolitan regions to the…

Laura Ingraham Mocks Meghan McCain As Being ‘Plus-Sized’
Last night, Sen. John McCain’s (R-AZ) daughter, Meghan McCain, appeared on Rachel Maddow’s MSNBC show, where she continued to criticize Ann Coulter. On her radio…

Scott Heiferman and Jeremy Heimans: We Are the Stimulus
America today is like someone with 1,000 friends on Facebook but none to really turn to in a time of crisis. A nation in crisis needs community. To weather the current storm, people need more than the support of tax cuts and stimulus cash. To restore confidence and surface new economic opportunities, people need the support of each other. They need renewed community to re-imagine and build a new economy together. This is not the Larry Summers plan. But it could help to address the psychological underpinnings of the crisis and make the stimulus stick.


Politico , Fox News advance McConnell’s “fuzzy math” on cost of omnibus and stimulus bills

Posted in Main Blog (All Posts) on March 13th, 2009 4:42 am by HL

Politico , Fox News advance McConnell’s “fuzzy math” on cost of omnibus and stimulus bills

In a March 11 article, the Politico uncritically reported the claim by Senate Minority Leader Mitch McConnell (R-KY) that the combined cost of the Omnibus Appropriations Act of 2009 and the American Recovery and Reinvestment Act amounts to spending $1 billion an hour. Sean Hannity and Brian Kilmeade also repeated McConnell’s claim on Fox News. But as Time magazine White House correspondent Michael Scherer explained, McConnell’s figure is “fuzzy math that does not really mean what it seems to mean.” McConnell’s calculation is based on dividing the cost of the two bills over 50 days, but, as Scherer noted, “that money will not be spent in 50 days. The omnibus is a spending bill to run the government over the course of an entire year. … The stimulus will be paid out over several years, with most of the money going out the door over the next 18 months.”

In its March 11 article, the Politico reported:

McConnell declined to answer the question about earmarks, and instead criticized the president’s contention that the omnibus bill was simply last year’s unfinished business.

“Let me tell what was not last year’s business was plussing the bill up 8 percent, which is twice the rate of inflation” McConnell said. “This bill is not last year’s business. … It further illustrates my point that when you add up the stimulus and the omnibus, the spending in the first 50 days of the administration [comes] at a rate of $1 billion an hour.”

Discussing President Obama’s signing of the appropriations bill during the March 11 edition of his show, Hannity stated: “Mitch McConnell — you know, Senate minority leader — he goes, ‘In just 50 days, Congress has voted to spend, you know, 1.2 trillion between the stimulus and the omnibus.’ ” Hannity added, “Then he goes on: ‘To put that in perspective, that’s about $24 billion a day, a billion dollars an hour, most of it borrowed.’ How do we sustain that?” On the March 12 edition of Fox News’ Fox & Friends, Kilmeade similarly stated, “[W]hen Mitch McConnell points out how much so far has been spent: $24 billion a day — now we’re on day 51 — $1 billion an hour, 1.2 trillion in 50 days.” Co-host Steve Doocy responded, “That’s staggering, Brian.”

In a March 11 post on Time‘s Swampland blog, titled, “The Math Behind A ‘Billion Dollars An Hour,’ ” Scherer addressed McConnell’s “fuzzy math”:

This is the new Senate Republican talking point: If you take the cost of the stimulus bill and add in the cost of the Fiscal Year 2009 omnibus bill, and then divide that number by the number of hours in the first 50 days of the Obama presidency, the result is $1 billion-per-hour of spending by Congress. Sounds big and scary. But it’s also a great example of fuzzy math that does not really mean what it seems to mean.

Senate minority leader Mitch McConnell is doing the arithmetic this way, per Politico’s Mike Allen. “50 days times 24 hours equals 1,200 hours. 1,200 times 1 billion equals 1.2 trillion (a thousand billions is a trillion).”

It’s true that if you add the stimulus and the omnibus you get about $1.2 trillion. But that money will not be spent in 50 days. The omnibus is a spending bill to run the government over the course of an entire year. (It should have passed last fall, but was delayed for the presidential election and because of partisan infighting.) The stimulus will be paid out over several years, with most of the money going out the door over the next 18 months. So no one is spending a billion dollars an hour. Consider this comparison: If over the course of a one hour board meeting, the head of Mattel decided to produce 1 million new Barbie dolls over the coming year, no one would say that Mattel is making 1 million Barbie dolls an hour. They would say Mattel is making 1 million Barbie dolls a year.

From the March 11 edition of Fox News’ Hannity:

HANNITY: Let me go to Mitch McConnell. Mitch McConnell — you know, Senate minority leader — he goes, “In just 50 days, Congress has voted to spend, you know, 1.2 trillion between the stimulus and the omnibus.” Now, this is without interest, folks. This is important.

Then he goes on: “To put that in perspective, that’s about $24 billion a day, a billion dollars an hour, most of it borrowed.” How do we sustain that?

BIANNA GOLODRYGA (ABC News financial correspondent): Well, I think — yeah, I mean, blame lays on both sides. I mean, McConnell also had earmarks here in this bill as well, about $50 billion — million worth of earmarks.

From the March 12 edition of Fox News’ Fox & Friends:

KILMEADE: You know, when Mitch McConnell points out how much so far has been spent: $24 billion a day — now we’re on day 51 — $1 billion an hour, 1.2 —

DOOCY: That’s staggering, Brian.

KILMEADE: — trillion in 50 days.


The U.S. and Brazil: Two Perspectives on Partnership and Rivalry

Posted in Main Blog (All Posts) on March 13th, 2009 4:41 am by HL

The U.S. and Brazil: Two Perspectives on Partnership and Rivalry
CAPbanner.jpg As President Barack Obama prepares to meet with his Brazilian counterpart, Luiz Inacio “Lula” da Silva, later this month among the key, yet underappreciated questions that lie before his administration is: How can the United States and Brazil pursue a deepening of bilateral relations while being partners and rivals in hemispheric and global affairs? The answer is not a foregone conclusion. Nor is the question one that can be brushed aside as unimportant in a complex global environment in which the demand for attention may well outstrip supply in the United States. How the United States and Brazil go about addressing the underlying dynamics at the heart of their relationship will have significant impact on hemispheric and global relations.


Texas Republicans Pushing Voter Suppression Law

Posted in Main Blog (All Posts) on March 13th, 2009 4:40 am by HL

Texas Republicans Pushing Voter Suppression Law
We don’t usually write about state-level legislative wrangling, but in this case, we think you’ll agree that there’s good reason. Before the election, we wrote a lot about the Republican effort to make it harder for poor and minority voters…

RFPs Past And Present: Compare and Contrast
Earlier this week, we had some fun with the Republican National Committee’s recent Request-For-Proposal for a redesign of its website. The two-page RFP was so sketchy and vague that it generated blogospheric ridicule — and even prompted one prominent conservative…


The Tattlesnake – More Randomized Odds and Ends Edition

Posted in Main Blog (All Posts) on March 13th, 2009 4:37 am by HL

The Tattlesnake – More Randomized Odds and Ends Edition
Or, Once Around the Poop Deck Rumor Du Jour: Word is, the Big Money Boys are holding back from dumping any more kale into the GOP, especially since new RNC Chair Michael “Hip-Hopper” Steele has inspired about as much confidence as Jim Cramer’s investment advice. With ex-Bush speechwriter David Frum and former Republican contractor Newt Gingrich […]


New Congress and Obama Leave Family Cuba Travel Restrictions in Place

Posted in Main Blog (All Posts) on March 13th, 2009 4:36 am by HL

New Congress and Obama Leave Family Cuba Travel Restrictions in Place
New York – This week, President Obama signed legislation prohibiting the Office of Foreign Assets Control (OFAC) from spending any money to enforce restrictions from 2004 on family travel to Cuba between now and October and in response, OFAC rescinded regulations on family travel made more severe by the Bush administration. Travel regulations prior to the Bush administration continue in effect as they have been for over 45 years, and it remains illegal for anyone to travel to Cuba. The Center for Constitutional Rights (CCR) issued the statement below in response:

read more


Reid’s Balancing Act

Posted in Main Blog (All Posts) on March 13th, 2009 4:35 am by HL

Reid’s Balancing Act
CQ Politics: “Harry Reid is in a difficult spot. As Senate majority leader, he juggles myriad competing political interests. He also has to balance those against his own best interest as he gears up for a potentially tough re-election battle in 2010.”


Concern Grows in the U.S. That the Drug War Is Destablizing Mexico

Posted in Main Blog (All Posts) on March 13th, 2009 4:34 am by HL

Concern Grows in the U.S. That the Drug War Is Destablizing Mexico
45,000 Mexican military personnel have been dispatched to centers of drug violence across the country to stamp out the growing violence.

Obama Needs to Spark a Global Green Deal to Create a Sustainable Economy
It would be a crash program to jump-start the transition to a global economy that is climate-friendly and climate-resilient.

Like Rihanna, I Returned to an Abuser
On average, it takes six attempts before a woman leaves an abusive relationship. How could I have accepted the unacceptable? Judge for yourself.

Will the Economic Meltdown Push Fixing a Broken Immigration System to the Back Burner?
In his recent address to Congress, Barack Obama didn’t mention immigration once — what does it mean for the prospects for reform?

Obama Needs to Spark a Global Green Deal to Create a Sustainable Economy
It would be a crash program to jump-start the transition to a global economy that is climate-friendly and climate-resilient.


Washington and Du Bois

Posted in Main Blog (All Posts) on March 13th, 2009 4:33 am by HL

Washington and Du Bois
I’m not sure how Ralph Luker knows what Vann Woodward and Louis Harlan taught me, but the fact is I read their writing in the 1970s and 1980s but subsequently had occasion to study some of the same issues…

Different visions of freedom and citizenship
As I wrote in a direct response to Norrell, he does indeed provide an ample evidence of the secret work of Washington, thus providing an important corrective to how Washington’s legacy is understood. However, there is a crucial distinction…



Presented By:
Investing in Scotland
   Scottish Development International can help your business invest in Scotland’s high level skills, technology and innovations.
www.SDI.co.uk

Ads by Pheedo