On the heels of Friday's unsettling jobs report from the Labor Department, we can now judge the performance…
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Image of the Day: Biden, Pelosi and Schumer Faceplanted On Jobs in 2021

On the heels of Friday's unsettling jobs report from the Labor Department, we can now judge the performance and promises of Joe Biden and the Pelosi/Schumer Congress against actual reality.  They promised 10.3 million jobs would be created in 2021 if their massive spending and regulation blowout passed, versus 6.3 million jobs if their agenda wasn't passed.  So how did it turn out?  Their agenda was passed, but only 6.1 million jobs were created as the U.S. economy slowed and struggled to recover from the Covid dip, as AEI's Matt Weidinger highlights.  They apparently made things worse, not better, illustrating the sardonic adage, "Don't just do something - stand there."

 

[caption id="" align="alignleft" width="905"] BIden Jobs Performance: Worse Than Doing Nothing[/caption]…[more]

January 10, 2022 • 10:13 AM

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181 Obama’s Economic Debacle

Major news outlets are suddenly all agog because the vaunted Obama economic recovery not only never was much of a recovery at all, but also seems to be disappearing. “We are on the verge of a great Great Depression!” screams Drudge’s massive headline in red. The Wall Street Journal reports the bad news that the private-sector economy…

182 U.S. Tipping Point: 51% of Households Now Pay No Income Taxes

“A democracy cannot exist as a permanent form of government.  It can only exist until a majority of voters discover that they can vote themselves largess out of the public treasury.  From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy…

183 More Obama “Recovery” – Economy Slows While Inflation, New Unemployment Claims Rise

“Obama, Biden Declare ‘Recovery Summer’”  That was a Politico headline on June 17, 2010.  The previous month, President Obama prematurely declared a tepid 3.2% economic growth rate for the first quarter of 2010 “an important milepost on the road to recovery.”  One year later, we’re still…

184 The Coming Bernanke-Obama Stagflation

The Federal Reserve Board is badly misunderstanding American psychology, and probably misinterpreting underlying economic realities. Inflation looms like one of the ugliest monsters in Binkley’s Closet of Anxieties, except that this beast is no mere figment of imagination. A public that sees its grocery and gasoline costs rising precipitously…

185 Dear Liberals: Income Isn’t “Distributed,” It’s Earned

Of all the canards nurtured by liberals, perhaps the most corrosive is their persistent reference to income as “distributed” or “taken.”  What explains that bizarre mindset?  It’s as if liberals believe in some sort of mystical, heartless roulette wheel in the sky that arbitrarily “distributes” cash…

186 Obama’s Deficit Reduction Plan: More Spending, More Taxes, Less National Defense

Hillsdale College Professor Paul Rahe – who has the distinction of being both a wag and a world-class intellect – is a high priest of the aphorism. Reviewing President Obama’s Wednesday speech on fiscal policy, he was characteristically concise: “[It] was in keeping with the President’s habitual practice. He said nothing…

187 Liberal Attacks Misfire on Ryan Budget Plan

The Left’s denunciation of House Budget Committee Chairman Paul Ryan’s (R-WI) 2012 “Path to Prosperity” budget proposal was swift, but curious. So far, no liberal commentator inside or outside government has seriously addressed the central inescapable issue of federal spending:  It is unsustainable at current levels. …

188 Obama’s Proposed Tax Increases Wage War on Civil Society

The Obama Administration’s proposed tax increases will reduce the amount of money available for charities from America’s largest givers.  Instead, the federal government will reap a coerced windfall from higher taxes and lower deduction levels. A new report published by the Heritage Foundation, the conservative think tank, explains…

189 WARNING: Defense Cuts May Be Hazardous to Our Health

In February 2009, Barack Obama unequivocally pledged to cut the deficit in half by the end of his first term:  “As our interest payments rise, our obligations come due, confidence in our economy erodes and our children and our grandchildren are unable to pursue their dreams because they’re saddled with our debts.  That’…

190 Meet the New Obama, Same as the Old Obama

It made for quite a spectacle:  President Obama instructing an audience of struggling entrepreneurs and employers to just start hiring and stop conserving their cash.   Gee, why didn’t they think of that?  Barack Obama has never owned a company in his life.  He has never faced bankruptcy for a family business built…

191 Omnibus Spending Bill: A Litmus Test for GOP Budget Cutters

Breaking News:  Due to intense grassroots and Congressional opposition to the Omnibus Spending Bill, Senate Majority Leader Harry Reid pulled it late Thursday night and will yield to Republican leaders in the Senate to provide basic funding for the government temporarily into the New Year through a simple Continuing Resolution…

192 It Wasn’t the Economy, Stupid

At least Bill Clinton – no paragon of humility or contrition – could acknowledge that “the era of big government is over” after his 1994 corrective.  Not Barack Obama or Nancy Pelosi, however.  According to them, their electoral “shellacking” merely reflected irrational voter panic about economic conditions…

193 A Balanced Budget Amendment Doesn’t Have to Mean Higher Taxes – CFIF’s “One More Vote” Proposal Doesn’t

A balanced budget amendment, in the wrong hands or crafted in the wrong form, can unfortunately provide a vehicle for big-government advocates to rationalize higher taxes.  To illustrate, a federal government that dramatically expands spending only to throw up its hands and plead no alternative to tax hikes to satisfy a new balanced budget amendment…

194 Fed Up: The Cost of Ben Bernanke’s Monetary Kamikaze Mission

In the land of the blind, the one-eyed man is king. Translation: In a Washington where most decision makers must face the voters on a regular basis, a man with an appointed four-year term can act with impunity unavailable to those who have to answer to the electorate.   Such is the story of Dr. Ben Bernanke, the Princeton economist turned Federal…

195 Latest IRS Data: Wealthier Americans Again Paid More than Their “Fair Share”

“The rich are not paying their fair share.”  So said Hillary Clinton earlier this year, parroting one of the political left’s favorite canards.  In fairness, perhaps she only meant to reference her own gilded marital syndicate with Bill.  Regardless, she’s absolutely right, but in a very different manner than…

196 Spend, Then Tax: Like Killing One’s Parents, Then Pleading for Mercy as an Orphan

Democratic leaders today resemble the proverbial murderer who slays his parents, then shamelessly seeks mercy from the court because he’s an orphan.  After creating their Frankenstein-like federal spending monster, they now use that monster’s voracious appetite to justify higher taxes on small businesses and the American people. …

197 CFIF’s “One More Vote” Campaign Launches Ad in Support of a Balanced Federal Budget with No New Taxes

Earlier this month, the Center for Individual Freedom (“CFIF”) launched its “One More Vote” campaign to rally grassroots activists across the country to force Washington to stop the excessive spending of our hard-earned tax dollars. Specifically, the “One More Vote” initiative calls for a constitutional amendment…

198 Obama: We Can Afford Failed $814 Billion “Stimulus,” But Not $700 Billion Tax Relief?

“Nobody spends somebody else’s money as wisely as he spends his own.”  ~Milton Friedman What the Obama Administration lacks in logic, it surfeits in raw chutzpah.  According to Obama, America just can’t afford $700 billion in additional tax relief.  After all, flipping Friedman’s wisdom on its head,…

199 America’s Economic Civil War

If the past few years have taught us anything, it’s that the inconvenient truths of the free market have a way of puncturing political pretension. Take, for example, these data from a 2009 report by the American Legislative Exchange Council (ALEC):   "When comparing California with Texas, U-Haul says it all. To rent a 26-foot truck…

200 Living Social(ist): Alerting America to Dumb Government Policies

Act Now: Congress and Obama Want Preferential Tax Treatment for Foreign-Owned Energy Producers CFIF has released a Living Social(ist): Bad Deal Alert, a new take on the trendy deal-of-the-day email coupon services exploding in popularity across the country. Instead of offering half-priced chocolate spa baths or $1 admissions to your local petting…

201 John Boehner is Right; Obama’s Economic Policies Have Failed the American People

In a speech to the City Club of Cleveland, House Republican Leader John Boehner (R-OH) called on President Barack Obama to ask for and accept the resignations of Treasury Secretary Tim Geithner and National Economic Council chief Larry Summers.  With the private sector on life support and the job market continuing to shrivel, the only quibble…

202 Obama: “Driving Us Out of a Ditch,” or Setting the Car on Fire?

Remember the summer of 2002, when President Bush  conducted the midterm Congressional election campaign by blaming Bill Clinton at every opportunity for the tech bubble recession and 9/11 plot he inherited?  Or the 1982 midterm campaign, when Ronald Reagan degraded the office by blaming Jimmy Carter for the economic and Cold War calamities…

203 Investment Fund Shows That Betting Against Congress is a Great Way to Make Money

With Congress out of session for its August recess, one innovative fund manager is busy making money for clients who share his view that an inactive government is good for the stock market.  Armed with data and a successful track record, Eric Singer is using his unique strategy to make profits and a point about avoiding the most dangerous element…

204 Raising Taxes on “The Rich” Will Harm the Economy

Consumer spending fuels two-thirds of the massive American economy.  Meanwhile, the top five percent of income earners account for fully one-third of that consumer spending.  So remind us again, Obama Administration:  Since that critical income segment supports such a disproportionate share of the nation’s vitality, how does…

205 World to Obama: No, You Just Don’t Get It

So the nationwide – nay, suddenly worldwide – debate continues:  Is President Obama being dishonest, or does he really just not get it?  Regrettably, that particular question carries an additional element of irony this week.  In his weekly radio address last Saturday, Obama leveled the curious accusation that opponents of…

206 Obama is Repeating FDR’s Mistakes – Just Not the Way the Liberal Media Thinks

If modern liberalism triumphs among the professoriate, it may be because the left shares an instinctive bias with the academy: to lecture is better than to learn.  And who better to embody this ethos than the nation’s professor-in-chief, Barack Obama, for whom obtrusiveness is next to godliness?   Holding court in Toronto last weekend…

207 Fannie Mae and Freddie Mac: A Case Study on the Limits of Government

The ongoing home mortgage disaster that continues to transfer billions of taxpayer dollars into the black hole coffers of Fannie Mae and Freddie Mac is serving at least one useful purpose: providing a case study on the limits of government’s ability to run any of its functions like a business.  One of the most critical dividing lines in…

208 Obama’s Big Fat Greek Bailout

Amusing entertainment news this week comes out of Britain, where Deadline London reports an upcoming Barack Obama miniseries based upon journalist Richard Wolffe’s book, The Making of a President.  Here’s an idea for a better title:  Obama’s Big Fat Greek Bailout.  After all, Obama’s enormous and unsustainable…

209 Crony Capitalism Looms Large Over Pennsylvania Special Election to Replace John Murtha

As with any contested race, there are plenty of differences between Republican Tim Burns and Democrat Mark Critz, the two men vying to replace the late Rep. John Murtha (D-PA), in the May 18th special election.  For all the boilerplate disagreements, though, one issue has the potential to define not just the candidates, but their national parties…

210 Charles Krauthammer Is a Great American, and That’s a True Fact

Boy, did we step in it last week.  In our Commentary piece -- “Here Come the VAT” -- we wrote, "No longer is it just those hysterical rumor-mongers like columnist Charles Krauthammer speculating on the next national tax to be imposed by the Obama administration..." Our first intent was to correctly credit the iconic conservative…

 
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Quiz Question   
In what year did Congress pass a law that requires voter identification to register to vote in federal elections?
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Notable Quote   
 
"According to the election calendar, Joe Biden has three years remaining in his term. According to political reality, his presidency is over, kaput, finished.It ended last week because of an accumulation of serious wounds, most of them self-inflicted. The final blow came from a boomerang after the president who campaigned as a decent man and uniter declared his opponents traitors and racists.Included…[more]
 
 
—Michael Goodwin, New York Post Columnist
— Michael Goodwin, New York Post Columnist
 
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