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Archive for September, 2012

Financial Recessions Don’t Lead to Weak Recoveries

Posted in Main Blog (All Posts) on September 29th, 2012 11:08 pm by HL

Financial Recessions Don’t Lead to Weak Recoveries
Michael Bordo, WSJ
There's a belief among policy makers that serious recessions associated with financial crises are necessarily followed by slow recoveries"”like the one we've experienced since mid-2009. But this widespread belief is mistaken. To the contrary, U.S. business cycles going back more than a century show that deep recessions accompanied by financial crises are almost always followed by rapid recoveries.The mistaken view comes largely from the 2009 book “This Time Is Different,” by economists Carmen Reinhart and Kenneth Rogoff, and other studies based on the…

Mitt Romney’s Long, Dark Night
Charles Blow, New York Times
Not only is he trailing President Obama in almost every national poll, he's trailing in almost every poll of swing states.What is the Republican response? That there must be some magical, maniacal skew in the numbers, and the skew must be a conscious effort by a scheming, elite media to dampen Republican enthusiasm.

Voters Aren’t Buying Mitt Romney
Joan Walsh, Salon
I know, “the dogs won’t eat the dog food” is kind of a cliché, but maybe because of Mitt Romney’s Seamus I couldn’t resist it. It refers to attempts to blame marketing for a product not selling, when the problem is the product itself. Romney is the product the voters aren’t buying – the dog food, if you will.Journalists and political operatives are already engaged in a pre-mortem about Romney’s awful campaign, and what killed it: The never-ending tax controversy? Bain job-killing? His Olympics stumble?…

Akin Calls GOP’s Bluff, But Can He Win?
Scott Conroy, RealClearPolitics
Trapped in the depths of political purgatory last month following his ill-advised comments about “legitimate rape,” Rep. Todd Akin was deluged daily with pleas from fellow Republicans that he exit the Missouri race for U.S. Senate.His comments were so egregiously off-base, they insisted, that his hopes of defeating incumbent Democrat Claire McCaskill had shifted from nearly guaranteed to utterly hopeless.Akin shrugged it all off, even ignoring Karl Rove's jesting homicidal threat made during a private meeting with GOP donors.The Show Me State congressman stubbornly insisted…

Why GOP Billionaires Aren’t Winning
Jonathan Alter, Bloomberg
A funny thing's happening on the way to Nov. 6. The billionaires trying to buy the U.S. election with contributions of $1 million, $10 million or even $100 million aren't succeeding.If trends continue and the Democrats have a good year (still a big if), the notion that in order to win candidates need the indirect backing provided by gobs of money from super-political action committees will be discredited.


Paul Ryan Has Been Deadly for Romney

Posted in Main Blog (All Posts) on September 28th, 2012 11:08 pm by HL

Paul Ryan Has Been Deadly for Romney
Noam Scheiber, The New Republic
The conventional wisdom on Obama’s recent surge is that it’s due largely to Mitt Romney’s 47% disaster, and there’s clearly something to this. If nothing else, it’s given Team Obama grist for an absolutely devastating ad.But it’s worth pointing out another dynamic that’s been overlooked here: The escalating disaster that is Paul Ryan. At the time of his selection, a number of pundits argued Ryan’s strategic benefits, suggesting he would boost Romney by energizing conservatives, or by allowing…

The Right Is Waging a War on Voting

Will Dems Shift Against Teacher Unions?
Michelle Rhee, Washington Post
I’m a Democrat because I believe in the party’s basic principles, particularly the idea that we have to look after one another and stand up for those who need help. I believe in fighting for the civil rights of all Americans, especially children and those facing injustices. That’s why I was heartened to see Chicago Mayor Rahm Emanuel advocating for the rights of kids in his standoff with the Chicago Teachers Union. Although his stance made perfect sense to me, it surprised many political observers. After all, Emanuel is a favorite within the Democratic Party, and…


The Mythology of Obama’s Obstacles

Posted in Main Blog (All Posts) on September 27th, 2012 11:08 pm by HL

The Mythology of Obama’s Obstacles
Deb Saunders, San Fran Chronicle
Certain quotes take on a mythical quality. Senate Minority Leader Mitch McConnell entered that pantheon when he said, “The single most important thing we want to achieve is for President Obama to be a one-term president.”On “60 Minutes” Sunday, the president observed, “When I first came into office, the head of the Senate Republicans said, 'My No. 1 priority is making sure President Obama's a one-term president.'” It's the Dems' favorite talking point, that from day one, Republicans wouldn't play fairly.

Mitt Romney: This Year’s Michael Dukakis
Michael Kinsley, Bloomberg
If, as seems possible, Mitt Romney is not elected U.S. president on Nov. 6, he will not be the first presidential candidate to run on the issue of competence and then lose because he ran an incompetent campaign. He will not even be the first governor of Massachusetts to do so.In 1988, Michael Dukakis, who was ahead in the polls just after the Democratic convention, declared in his acceptance speech: “This election isn't about ideology. It's about competence.” Then he proceeded to blow a large lead and lose to George Bush the Elder, who turned out to be a tougher old bird…

High Frequency Trading Insanity

Juiced Media Polls: The Newest Negative Ad
Mike Flynn, Big Government
In 2008, the electorate that elected Barack Obama was 39% Democrat, 32% GOP and 29% Independent. This is what we call a D+7 electorate. Obama defeated McCain by 7 points, the same margin. In 2004, the electorate was 37% Democrat, 37% Republican, and 26% Independent, in other words D/R +0. Bush defeated John Kerry by 3 points nationally. Yet, virtually every big media poll is based on a model in which Democrats equal or increase their share of the electorate over 2008. Beyond simple common sense, there are many reasons this won't happen. The Dem vote in '08 was the largest…

How Long Can Obama Avoid His Economic Record?
Dan Henninger, WSJ
'Stupid,' in the famous quotation from 1992's Clinton vs. Bush campaign – “It's the economy, stupid” – is whoever thinks a U.S. presidential election is about something else. All presidential elections are about the economy. Yes, there are other issues, but it's also true that a whale has pilot fish. Still, most politicians would rather talk about anything but the economy, which they see in one of two ways—as a personal piggy bank or a mystery. Neither is discussable in public. This is the sixth presidential election since “stupid” was…


The Know-Nothing GOP Says “No”

Posted in Main Blog (All Posts) on September 25th, 2012 11:08 pm by HL

The Know-Nothing GOP Says “No”
Richard Cohen, Washington Post
In 1980 Ronald Reagan won the Republican nomination. He beat a future president, George H.W. Bush, two future Senate majority leaders, Howard Baker and Bob Dole, and two lesser-known congressmen. This year Mitt Romney won the GOP nomination. He beat a radio host, a disgraced former House speaker, a defeated Senate candidate, a former appointee of the Obama administration, a tongue-tied Texas governor, a prevaricating religious zealot who happens to serve in the House of Representatives, and a cranky libertarian doctor. Where did all the talent go?Until the Republican Party can answer this…

Is This the Most Corrupt Press in History?
Mona Charen, National Review
“Stop it. This is hard. You want to try it? Get in the ring.” –Ann RomneyMrs. Romney's exasperation with conservative critics is understandable. The mainstream press has been like a school of piranhas swarming around her husband. To receive fire from her own side as well — even constructive advice — may seem too much to bear.Mitt Romney is facing perhaps the most corrupt and tendentious coverage in presidential history, as members of the fourth estate eschew any semblance of integrity in their attempt to skew interpretations in favor of their pinup, Mr. Obama.

Obama Must Be More Than ‘Eye Candy’ to Win
Chris Stirewalt, FOX News
The rap on Republican presidential nominee Mitt Romney is that he’s been unwilling to take chances even though he’s trailing President Obama: playing a prevent defense even though he’s trailing in the big game.Republicans and conservatives are constantly exhorting Romney to go bold and talk about big ideas. Of course, they’re also telling him to focus on their own pet issues: Israel, brain science, the value of the dollar, etc. 


Mitt Trashes 47% That Don’t Pay Income Taxes

Posted in Main Blog (All Posts) on September 18th, 2012 11:09 pm by HL

Mitt Trashes 47% That Don’t Pay Income Taxes
Jonathan Capehart, WP
Back in February, Mitt Romney stuck his ample silver foot in his mouth when he told CNN’s Soledad O’Brien, “I’m not concerned about the very poor.” He went on to say, “We have a safety net there. If it needs repair, I’ll fix it. I’m not concerned about the very rich, they’re doing just fine. I’m concerned about the very heart of the America, the 90, 95 percent of Americans who right now are struggling, and I’ll continue to take that message across the nation.”Late Monday,…

Michelle Obama Tries to Reignite Dem Passion
Erin McPike, RCP
Despite mounting problems this week for Mitt Romney's candidacy, a still constant theme in the 2012 presidential election is that enthusiasm for Barack Obama is lacking compared to four years ago. Voters aren't swooning over the calm, collected man who is now the president the way they were when he was a fresh new candidate. And as far as young voters are concerned, well, you only have your first crush once.Enter Michelle Obama.Obama campaign officials insist that the nation's self-described "mom-in-chief" is busy at home and will keep her campaign schedule…

Voters, Like Romney, Want Smaller Gov’t
Jennifer Rubin, Wash Post
Mitt Romney’s hysteria-inducing comments aside, he has a fundamental advantage in the case he is making to voters. Gallup reports that, by a 54 percent to 39 percent margin, voters think government is trying to do much, as opposed to not doing enough:Most significantly, we learn: “More than six in 10 independents agree that the government is doing too much.”It is therefore not surprising that, in Romney's effort to sharpen his message, he is going right at the size and irresponsibility of government. His latest ad on the topic was released today:

Sandra Fluke & the Democrats’ Fake Freedoms
Jacob Sullum, Reason
Sandra Fluke’s claim to fame, aside from provoking Rush Limbaugh's misogynistic ire, is that she chose to attend Georgetown Law School, knowing full well that the Catholic university's student health plan did not cover birth control, and then demanded that the policy be changed, under force of law, as a matter of “reproductive justice.” Although Fluke could have picked a different school, she told The Washington Post last February, “I decided I was absolutely not willing to compromise the quality of my education in exchange for my health…


Bottom Line: US Worse Off Under Obama

Posted in Main Blog (All Posts) on September 17th, 2012 11:08 pm by HL

Bottom Line: US Worse Off Under Obama
Jennifer Braceras, Boston Herald
“Are you better off today than you were four years ago?”That’s the question the Romney campaign wants voters to answer.For the 23 million Americans who are unemployed, underemployed or have dropped out of the work force altogether, the answer, of course, is “no.”Indeed, with stagnant or falling incomes, lower home values and the rising cost of basic necessities, even folks fortunate enough to have jobs tend to answer the question in the negative.

Fed to the Rescue

The Video Did It


The Tangled Web of Conflicting Rights

Posted in Main Blog (All Posts) on September 15th, 2012 11:08 pm by HL

The Tangled Web of Conflicting Rights
George Will, Washington Post
Elaine Huguenin, who with her husband operates Elane Photography in New Mexico, asks only to be let alone.But instead of being allowed a reasonable zone of sovereignty in which to live her life in accordance with her beliefs, she is being bullied by people wielding government power.

Bernanke Admits Obamanomics Has Failed Dismally
Larry Kudlow, IBD
About 30 years ago, Paul Volcker launched a monumental monetary effort to bring down inflation. As Fed chairman, he sold bonds, removed cash from the economy and cared not one wit about rising interest rates. And it worked. Gold plunged, King Dollar soared, and the drop-off in bank reserves and money extinguished high inflation — and actually launched a multi-decade period of very low inflation.This week, current Fed chairman Ben Bernanke embarked on an absolute reversal of Volcker's policy. He is launching a monumental effort to buy bonds and inject new money into the economy in order…

Romney’s Missing Worldview

The Reign of Imagination
Caroline Glick, Jerusalem Post
As he suffocated to death at the US Consulate in Benghazi on the 11th anniversary of the September 11 attacks on the US, did US Ambassador Christopher Stevens understand why he and his fellow Americans were being murdered?From what we have learned of this man since he was killed, it is clear that he was extremely courageous. He stole into Benghazi in April 2011 on a cargo ship to serve as chief US liaison officer to the rebel forces fighting Libyan dictator Muammar Gaddafi. He did the business of the US government in makeshift offices and moved from safe house to safe house under what can…

Where’s the Media Outrage Over Black Flags?
Kirsten Powers, FOX News
MEGYN KELLY: Kirsten, you wound up having the Obama administration and Mitt Romney agreeing that the embassy statement was not appropriate, and yet the whole media narrative yesterday was how awful Gov. Romney was for pointing it out.KIRSTEN POWERS: Oh yeah. It's still the media narrative. And the thing is, the outrage that has been expressed over the fact that Mitt Romney put out this statement has even overshadowed any kind of outrage that you would see over the fact that you have Islamic flags being hoisted over American embassies, the fact that an American ambassador is dead. You…


Netanyahu’s Neocon Gambit

Posted in Main Blog (All Posts) on September 14th, 2012 11:09 pm by HL

Netanyahu’s Neocon Gambit
David Remnick, The New Yorker
It is hard to overestimate the risks that Benjamin Netanyahu poses to the future of his own country. As Prime Minister, he has done more than any other political figure to embolden and elevate the reactionary forces in Israel, to eliminate the dwindling possibility of a just settlement with the Palestinians, and to isolate his country on the world diplomatic stage. Now Netanyahu seems determined, more than ever, to alienate the President of the United States and, as an ally of Mitt Romney’s campaign, to make himself a factor in the 2012 election—one no less pivotal than…

Cascade of Anti-American Violence Roils Middle East
Paul Richter, LAT
WASHINGTON "” The cascade of anti-American protests in the Middle East this week is a jolting reminder to the White House of a dangerous dimension of the “Arab Spring” revolutions: Freedom for long-suppressed Islamist groups that weak elected governments can't manage and that America can't control.Although President Obama welcomed the uprisings that toppled authoritarian leaders like dominoes last year, attacks on U.S. missions and other protests across the Middle East and North Africa have created a deepening crisis in Washington as White House aides…

To Be Presidential, Romney Must Be Truthful
Jonathan Alter, Bloomberg
Presidential campaigns sometimes turn on big moments that help voters ponder the central question they have about every challenger: What would this person actually be like as president?These aren’t the same as gaffes, which are slips of the tongue that may be politically damaging but say little about the candidates except that they misspoke. 

President’s a Good Bet to Win Re-Election
Charlie Cook, National Journal
By this time next week, there should be enough national and state-level polling data to present a pretty clear picture of where this election stands, post-Labor Day and after whatever bounces the candidates may have gotten from the conventions. But we have seen enough data in recent weeks to draw some preliminary conclusions about the contests for the White House, the Senate, and, to a lesser extent, the House.The presidential race is still close and, in a tight election, either candidate can win. Any number of events, not the least of which are debates, campaign gaffes, and domestic or…

Can Rahm Reform Chicago’s Schools?
David Brooks, New York Times
Modern nations have two economies, which exist side by side. Economy I is the tradable sector. This includes companies that make goods like planes, steel and pharmaceuticals. These companies face intense global competition and are compelled to constantly innovate and streamline. They’ve spent the last few decades figuring out ways to make more products with fewer workers. Economy II is made up of organizations that do not face such intense global competition. They often fall into government-dominated sectors like health care, education, prisons and homeland security. People in this…


Romney’s Major Meltdown

Posted in Main Blog (All Posts) on September 13th, 2012 11:08 pm by HL

Romney’s Major Meltdown
Gail Collins, New York Times
Perhaps he didn't know he'd made it, although, really, I thought it was pretty clear.He could do anything he wanted during this campaign as long as he sent out signals that once he got in the White House he was not likely to be truly crazy.We, in return, were going to be able to continue with our normal sleeping patterns through the fall.

Piercing the Fog of Revolution
David Ignatius, Washington Post
WASHINGTON — What's happening on the ground in Cairo and Benghazi appears to be a case of political opportunism — no, not by Mitt Romney, though there was some of that Wednesday — but by Salafist Islamic extremists who are unhappy with the success the more moderate Islamist and secularist parties in Egypt and Libya have had in building political support.We're still in what I like to call the “fog of revolution” in both countries, where it's hard to know for sure what's happening and who benefits, so my reporting comes with a basic caveat. But based on…

Romney Has Mess to Clean Up on Libya
Dana Milbank, Washington Post
NBC News reported on Tuesday morning that Mitt Romney’s campaign was “throwing the kitchen sink” at President Obama: With prospects fading, the Republican challenger was trying any and all lines of attack to see what might stick.But the problem with throwing the kitchen sink is you might break a pipe — and then you’ve got a real mess.

The Logical Outcome of Obama’s Foreign Policy
Liz Cheney, Wall St. Jrnl
It has certainly been a terrible 48 hours. In Libya, violent extremists killed American diplomats. In Cairo, mobs breached the walls of the U.S. Embassy, ripped down the American flag and replaced it with the al Qaeda flag.In response to the attack in Cairo, diplomats there condemned not the attackers but those who “hurt the religious feelings of Muslims.” The president appeared in the Rose Garden less than 24 hours later to condemn the Libya assault and failed even to mention the attack in Egypt. The message sent to radicals throughout the region: If you assault an American embassy…


Romney’s Health Care Dither

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

Romney’s Health Care Dither
Eugene Robinson, Washington Post
WASHINGTON — I'm trying to figure out just where Mitt Romney stands on health care reform. Obviously, so is Mitt Romney.In an interview broadcast Sunday on “Meet the Press,” I thought I heard Romney say he liked some aspects of President Obama's Affordable Care Act and would keep those provisions in place. Impossible, right? Romney's position all year has been that if he's elected, he'll begin repealing Obamacare on Day One. My ears must have deceived me.

Obama Skips Half of Daily Intel Briefings
Marc Thiessen, Washington Post
President Obama is touting his foreign policy experience on the campaign trail, but startling new statistics suggest that national security has not necessarily been the personal priority the president makes it out to be. It turns out that more than half the time, the commander in chief does not attend his daily intelligence meeting.The Government Accountability Institute, a new conservative investigative research organization, examined President Obama’s schedule from the day he took office until mid-June 2012, to see how often he attended his Presidential Daily Brief (PDB)…

Bravo to the Chicago Teachers Union
Matthew Rothschild, The Progressive
Bravo to the Chicago Teachers Union.When 29,000 Chicago teachers and support staff went on strike this week, they stood up not only for themselves, and not only for public sector workers across the country, and not only for the labor movement in general.They also stood up for their students.

Depending on Dependency
Thomas Sowell, Investor’s Business Daily
The theme that most seemed to rouse the enthusiasm of delegates to the Democratic National Convention in Charlotte was that we are all responsible for one another — and that Republicans don't want to help the poor, the sick and the helpless.All of us should be on guard against beliefs that flatter ourselves. At the very least, we should check such beliefs against facts.Yet the notion that people who prefer economic decisions to be made by individuals in the market are not as compassionate as people who prefer those decisions to be made collectively by politicians is seldom even thought…

Chicago Teachers Union Wants More Pay, Less Evaluation