Archive for economy

GOP wrong again: Weekly jobless claims fall, budget deficit shrinks #BlameObama

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what you know, wrong

This is getting tedious, but a blog's gotta do what a blogs's gotta do. Republicans, you're wrong again. Wrongier than wrong. Wrong wrong wrong:

Via the Los Angeles Times:

The federal deficit continues to decline thanks to budget cuts and slower growth in Medicare costs, but lower than expected corporate tax revenues dimmed some of the improved outlook, according to a report Wednesday from the Congressional Budget Office.

And Benen piles on. More at the link:

This remains a basic budgetary truism that Republicans continue to resist. Indeed, last year, when top marginal rates increased on households making more than $400,000 a year, a variety of GOP lawmakers argued that this would likely cause the deficit to go up – as they saw it, higher taxes on the wealthy would slow growth, which would mean fewer jobs, which would mean fewer people paying income taxes, which would mean a larger deficit.

And we now know they were wrong – again – though this will probably do nothing to shake the Beltway perception of the GOP as the “fiscally responsible” party.

Let’s also note that the shrinking deficit – we’re seeing the fastest reduction since the end of World War II – is also one of the nation’s best-kept secrets. [...] [T]he reality is, we’re witnessing deficit reduction at a truly remarkable clip. Every conservative complaint about fiscal recklessness and irresponsibility in the Obama era is completely divorced from reality.

but wait there's more smaller

Per the most reliable news source in the whole wide world, Fox Biz, comes this upbeat news via a couple of email alerts:

The number of Americans filing for first-time unemployment benefits fell last week to 298,000 from an upwardly revised 299,000 the week prior. Economists expected claims to rise to 300,000 from an initially reported 298,000.

The Commerce Department reports the economy expanded at an annualized pace of 4.2% in the second quarter, higher than an original estimate of 4%, also beating expectations of 3.9%.

the more you know msnbc bergdahl

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Roads and bridges falling down, falling down, falling down...

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LondonBridgew384h202

Sing it with me, now!

Roads and bridges falling down,

Falling down,

Falling down!

Roads and bridges falling down!

Where is Congress?

Face it, America, not only is our infrastructure in a total state of disrepair, but our stellar lawmakers *coughGOPcough* make our roads and bridges look positively reliable.

Via the Los Angeles Times:

America's transportation infrastructure, once an engine of mobility and productivity, has fallen into such disrepair that it's become an economic albatross. Consumers shell out billions of dollars for extra car repairs every year. Insufficient and poorly maintained roads mean costly bottlenecks for businesses, which discourage expansion and hobble American companies competing in the global economy. [...]

A quarter of the country's 147,870 bridges are deficient or obsolete, according to a July report by the White House on infrastructure investment. [...]

[In East Greenwich, south of Providence, Rhode Island]... some of the supporting beams underneath were so beaten down by time and rainwater that they were "paper-thin." [...] All told, about a third of [California's] public roads are in bad shape, compared with 14% nationally.

Public safety, schmublic schmafety.

"Pro-life" my ass.

Here's a little flashback dedicated to Republican Congress members who obstruct infrastructure bills the way Fox obstructs truth in broadcasting:

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Great American Heroes

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Alan Grayson at Sexy Liberal 12-10-11 copy

Nicole Sandler with Congressman Alan Grayson at the Sexy Liberal Comedy Tour in Ft. Lauderdale, December 2011

Our first Great American Hero today is Congressman Alan Grayson. Although he represents Florida's 9th District, he really represents us all! Even in the time of the greatest gridlock in DC, Congressman Grayson - a member of the minority party in the House - has written more legislation and had more amendments passed than any other member, for two years running!

He joined me on the show this morning to talk about some of the work he's done since we last spoke. A sampling of his accomplishments follows:

On the NSA/surveillance/privacy front:

  • He’s passed legislation to protect encryption standards from the NSA 
  • He passed an amendment to the Department of Defense Appropriations bill (H.R. 4870) to prohibit NSA from interfering or weakening encryption standards promulgated by NIST. Grayson called NSA’s subversion of NIST’s standards “extremely dangerous and noted that NSA’s efforts rendered everyone’s security vulnerable to exploitation. “It’s naïve to imagine that if you introduce a weakness into a system you will be the only one to use it. My amendment would address this issue by prohibiting the intelligence community [which includes NSA] from subverting or interfering with the integrity of any cryptographic standard,” he explained. The amendment passed unanimously and earned support from Citizens for Responsibility and Ethics in Washington, the Sunlight Foundation, and others.
  • In a Science, Space, and Technology Committee markup he passed an amendment removing the statutory requirement for NIST to consult with NSA in developing encryption standards. The amendment allows NIST to continue to consult NSA when necessary. The Huffington Post called Grayson’s effort a “landmark amendment,” while ProPublica wrote that it“puts NSA on notice over encryption standards.” Access said the amendment would “help support data integrity by ensuring that the standards used to protect all internet users are not artificially weakened.” The Center for Democracy & Technology hailed it as a “positive step that will help to restore the credibility and scientific objectivity of NIST.”
  •   He’s pushing the FCC to protect the privacy of Americans’ phone calls, following a Newsweek report claiming that IMSI catchers, a relatively cheap device that impersonates cell phone towers, can intercept phone calls and text messages.
  • He’s been going after former NSA Director Keith Alexander, who stands to make millions off of his work in the cybersecurity sector. Read one of Grayson’s letters here. There’s been a good deal of coverage on this – for example here, here and here.

And in other areas:

Yes, I'd say "hero" is a perfect description. Find out more about Congressman Grayson and donate to help keep him working for us at CongressmanWithGuts.com.

Kelton-Sandler

Stephanie Kelton on The Nicole Sandler Show at Netroots Nation Detroit, July 2014

Our second hero today followed Congressman Grayson immediately on the show. Stephanie Kelton, Ph.D. is Associate Professor and Chair of the Department of Economics at the University of Missouri-Kansas City. She is also Editor-in-Chief of the top-ranked blog New Economic Perspectives .  

Today we spoke about the new buzz-term and heinous practice known as Corporate Inversion Taxes, as well as a bit about Modern Monetary Theory, why the US should carry debt and how to fix the economic mess we're in.

After hearing what she had to say, I asked her to run for office. Stephanie Kelton is, indeed, a hero who would serve us well in public office!

In the second hour of the show, I spoke with our regular Thursday morning heroes:

Amy Simon of She's History told us about Lily Ledbetter and her fight for paycheck fairness.

And Stephen Goldstein, author of The Dictionary of American Political Bullshit returned with another "No More Bullshit Minute." Today, we exposed the bullshit phrase, "According to a Recent Poll."

Tomorrow, we'll wrap the week with Florida's Judge David Young, discussing the recent rulings in favor of marriage equality and how to figure out who to vote for in judicial races. And for Flashback Friday, my 1996 interview with -and performance by- Sting! Talk to you then, Radio or Not!

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President Obama Met With Central American Leaders - Fvx Nation Freaks

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lobotomy

Oh would some power the giftie gie us, to see ourselves as others see us.

~ Robert Burns

screamnowjo0

When you get down, way, way  underneath whichever gratuitous level of bullshite the Regressive Right is forking up this month, you can spy the real issues that need addressing at our borders: key economic reasons.

Said issues are frequently buried under whatever red-meat frenzy is currently being spotted and hyped by the Fox Noise Hysteria Periscope and whomever Morning Schmoe chooses to add frothing from over at messnbc mornings.

Elizabeth Warren, for good reason a Progressive It Candidate, has been a vocal champion of the kind of action President Obama took this week … and that's why so many of us champion her.

Quick!

This thoughtful president chose not to suit up in combat gear, climb into a helicopter with a presumably-armed Governor-General Good Hair Perry and get his picture taken in staccato unison by photographers there to snap him … NOT the humanitarian crisis at hand.

It was an Obama decision:  pragmatic, active yet not drastic, and assumes that we have equal partners in these massive matters of bubbles, booms, recessions and the flow of humanity they attract, then throw back from our shores.

It also makes sense. Which is anathema to a Regressive Right held hostage by Palin, Hannity and Limpbaugh's Tea Party.

anti_fox_news_cap

The GOP is proven to be hideous at paying for things, only Obama and Clinton brought deficits down and got us out of conflicts, more than into them. The Right became hysterical in extremis when they realized they had blown the entire cookie jar on Defense and Terrorism and reacted with every xenophobic, self-serving iota of their fully loaded (shekels and bullets galore) selves … it must be communism!

Cuz … Putin.

Then Putin has the annoying and extremely untimely nerve to ratchet up the pissing contest that Reagan is credited by his fervent idolizers for having somehow 'won'.

The GOP decided to formally adopt Israel from sometime after Ron Ron's star peaked until their Rapture … surely, we must be in Armageddon now, gauging the shrill hysteria and panic over at Fvx Nation.

reagan obsolete

In the meantime, here's a surprisingly edifying few minutes from Morning Joe Schmoe -- there was a substantive look at what is happening at the borders, and why President Obama's hosting of the Central American leaders is significant on many fronts. From MSNBC.

And for your compare and WTF(??!!??) moment, here's how the delusional crew at Fox Noise responded to the sitting president doing something practical and statesmanlike by meeting with the leaders of Honduras, El Salvador and Guatomala.

[As always, complimentary Orvis waders and Method™ Antibacterial Troll Spray by the front door.]

Hannity, still high from his own trip to Texass, let Governor Good Hair Rick Perry rant at will.



The Journal Editorial Report, featuring WSJ's Paul Gigot, required three Fvx slash Wall Street Journal pundits to bash President Obama while giving Perry and Paul the Younger all kinds of love for their alleged Feck.

johnO

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