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Archive for June, 2012

Obama’s Economic Predicament

Posted in Main Blog (All Posts) on June 5th, 2012 11:08 pm by HL

Obama’s Economic Predicament
Alexis Simendinger, RealClearPolitics
President Obama has almost no significant new openings to rev the stalling U.S. economy before November — not with Congress as collaborators, at least. So what can he do?The White House says the president will deliver a speech describing his economic vision this month. Offering a public address is Obama's favored fallback when triggering a new phase of economic attention. The president is still touting his American Jobs Act of 2011, but his spokesman said Monday that Obama will continue to search for "potential new ideas.""It's not okay to simply root…

The Lowlights Of Obamanomics

Will Bogus Arguments Swing the Supreme Court?
Jonathan Cohn, TNR
Several dozen organizations filed "friend of the court" briefs for the lawsuit challenging the Affordable Care Act. And virtually none of these briefs are likely to have much impact. But, based on what transpired at oral arguments, one brief appears to have gotten the attention of conservative justices. That is deeply worrisome, because the brief betrays some fundamental misunderstandings of how health care actually works.  

The Keynesian Case for Romney
Ezra Klein, Washington Post
Even if you disagree with every one of Mitt Romney’s policies, there’s a chance he’s still the best candidate to lift the economy in 2013.That’s not because he has business experience. For all his bluster about the lessons taught by the private sector, his agenda is indistinguishable from that of career politician Paul Ryan. Nor is it because he’s demonstrated some special knowledge of what it takes to create jobs. Job growth in Massachusetts was notably slow under Romney’s tenure. It’s because if Romney is elected,…


Obama Offers Nothing But Excuses

Posted in Main Blog (All Posts) on June 4th, 2012 11:08 pm by HL

Obama Offers Nothing But Excuses
Charles Gasparino, New York Post
President Obama greeted last week’s rotten news on unemployment by saying the economy is facing “serious headwinds.” It took him three-plus years to figure that out?Last Friday’s crummy jobs report followed the grim news that economic growth is below 2 percent. We’re slowing down again, after not speeding up very much — and the storm clouds over Europe threaten to toss the whole world back into full recession. What has this president ever done to help the economy heal?

Walker Recall Battle May Hurt Obama
Jeff Zeleny, New York Times
President Obama holds multiple paths to re-election, with a handful of battleground states being able to slip away without leading to his defeat. But each possible outcome on his campaign map has always shared a common trait: winning Wisconsin.A Republican resurgence here, which has burst into full view as the party determinedly defends its sitting governor in a rare recall election, is spilling into the presidential race. The result is poised to shape the general election fight between Mr. Obama and Mitt Romney, who intends to add Wisconsin to his list of targeted states.

Game On! 2012 Battle Lines Are Drawn
Cannon & Bevan, RealClearPolitics
Leading the Republicans in Massachusetts is a challenge, but state party leader Kerry Healey had an inspiration. A Harvard graduate who had earned a doctorate in political science at Trinity College in Dublin, in 2002 she was handed the unglamorous assignment of chairing the Republican Party of Massachusetts. Just a few weeks into the job, Healey had her epiphany.She watched with interest as Mitt Romney earned rave reviews for getting the troubled and deeply indebted Salt Lake City Winter Olympics back on track. Romney was a successful and photogenic Boston-based businessman who possessed a…

This Republican Economy
Paul Krugman, New York Times
What should be done about the economy? Republicans claim to have the answer: slash spending and cut taxes. What they hope voters won’t notice is that that’s precisely the policy we’ve been following the past couple of years. Never mind the Democrat in the White House; for all practical purposes, this is already the economic policy of Republican dreams.So the Republican electoral strategy is, in effect, a gigantic con game: it depends on convincing voters that the bad economy is the result of big-spending policies that President Obama hasn’t followed (in…

Playing With Words
Thomas Sowell, Investor’s Business Daily
Would anyone work to support themselves or their families — and then turn over a chunk of that hard-earned money to somebody else, just because of the words used by that somebody else?A few people may be taken in by the words of con men, here and there, but the larger tragedy is that millions more are taken in by the words of politicians, the top-of-the-line con men.


Petraeus Finds an Arena in Langley

Posted in Main Blog (All Posts) on June 3rd, 2012 11:08 pm by HL

Petraeus Finds an Arena in Langley
David Ignatius, Washington Post
WASHINGTON — CIA Director David Petraeus spoke first at an April 19 memorial dinner for agency officers killed in action. He delivered well-scripted remarks and an evocation of the agency's heroes. Then came Leon Panetta, his predecessor at the CIA and the evening's main honoree, who delivered a stem-winding emotional speech to fervent applause.The freewheeling Panetta, now secretary of defense, has been a tough act to follow at the CIA, especially for a former four-star Army general who thrived in the disciplined, resource-rich world of the military. And in his first year at the…

The E.U. Is in Total Denial
Janet Daley, The Telegraph
I’ve never actually heard the term “total emergency” before, at least not in the context of global economics. It sounds like the title of a disaster movie. When it is uttered in sober tones by the elder statesman of an advanced democracy to describe his country’s financial condition, the effect is rather startling.The man who delivered this apocalyptic judgment, former Spanish prime minister Felipe González, being a socialist, might be expected to detest austerity programmes that require cuts to government spending. But there seemed to be few…

Liberals’ Impossible Promises
Charles Kesler, Claremont Review of Books
Out of the mouths of babes, and pirates, can come wisdom. The pirate in this case is the Pirate Captain, as he's called, brilliantly voiced by Hugh Grant in the new stop-motion animation film, The Pirates! Band of Misfits. His quest to win the Pirate of the Year award brings him in contact with Charles Darwin and his servant monkey Bobo, who resembles his master or perhaps the other way around, and an evil Queen Victoria, whose royal crest proclaims, “I Hate Pirates.” Her majesty resembles an angry Hillary Clinton. (A certain former president and his Secret Service detail may…

How Will DOMA Fare in Front of the Court?
Scott Lemieux, The Guardian
On 31 May, a three-judge panel of the first circuit court of appeals held a key provision of the Defense of Marriage Act (Doma) unconstitutional. It is nearly certain, however, that the case will be headed to the supreme court, and because the decision was stayed pending appeal, it will not even apply in the New England states covered by the first circuit.So, the key question is: what will the supreme court will do when it hears the case? 

The Perils of Bill Clinton
Michelle Cottle, The Daily Beast
You knew Bill Clinton wouldn’t be able to stay quiet for long.As if Team Obama weren’t already struggling in its attempts to hang Bain Capital around Mitt Romney’s neck, Clinton popped up on Piers Morgan Thursday night criticizing the attacks on Bain and praising Romney’s business savvy.“I don’t think we ought to get into the position where we say this is bad work; this is good work,” said Clinton. “There’s no question that, in terms of getting up, going to the office, and basically performing the…


Centrist Dems Sending a Message to Obama

Posted in Main Blog (All Posts) on June 2nd, 2012 11:08 pm by HL

Centrist Dems Sending a Message to Obama

Financial Crooks Walk, While Small Fry Go to Prison
Joe Nocera, NYT
Charlie’s ordeal isn’t over yet, of course. When he leaves prison on June 20, Charlie, 49, will move temporarily to a halfway house, after which he will be on probation for another five years. And unless he can get the verdict overturned, he will have to spend the rest of his life with a felony on his record.Perhaps you remember Charlie Engle. I wrote about him not long after he entered a minimum-security facility in Beaver, W.Va., 16 months ago. He’s the poor guy who went to jail for lying on a liar loan during the housing bubble. 

The Last Thing Europe Needs Is More Spending
Shawn Tully, Fortune
The leaders of distressed European nations, from Italy's Mario Monti to France's Francois Hollande, are blaming “austerity” for their economic woes, and championing policies that promote “growth.”It's important to define the two terms. Austerity stands for shrinking budget deficits, by lowering spending, raising taxes, or a combination of the two. The pro-growth measures are what's known in the U.S. as “stimulus.” It comprises short-term fiscal policies designed to limit the damage from a recession and speed recovery. Stimulus works in…


Elizabeth Warren and a Question of Character

Posted in Main Blog (All Posts) on June 1st, 2012 11:08 pm by HL

Elizabeth Warren and a Question of Character

Why Is Jon Corzine Not on Trial?
Jeff Carter, Points & Figures
Came across this article on May 29 that talks about the continuing saga of MF Global and Jon Corzine. It’s amazing that this epic financial scandal gets no consistent main stream media coverage. Over a billion was stolen. Corzine is in Madoff territory.Here is the proposed rule,Futures brokers would need to get approval from a top executive before making big withdrawals from customer accounts under a rule now pending and referred to in the industry as the “Corzine rule”, after MF Global’s former CEO Jon Corzine. 

The Myth of the Businessman-President
Timothy Egan, New York Times
Lost in the exhaust of mendacity left in Las Vegas this week, after Donald Trump brought his birther fantasies to town on behalf of Mitt Romney, was a curious statement by the man who has now cinched the Republican nomination for president.On Tuesday, the same day Trump proved yet again that money and truth, like money and taste, are seldom twined, Romney talked about amending the Constitution to require the president to have business experience. He spoke approvingly of a notion from a store owner who wanted to make anyone who does not have at least three years of business background…