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Business/Economy (News/Activism)

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  • At Last, Republicans Make Their Case to Main Street

    02/07/2013 2:20:40 PM PST · by Kaslin · 14 replies
    Townhall.com ^ | February 7, 2013 | Michael Barone
    The House Republicans, in serious trouble with public opinion as they blinked facing the "fiscal cliff" over New Year's, seem suddenly to be playing a more successful game -- or rather, games -- an inside game and an outside game. The inside game can be described by the Washington phrase "regular order." What that means in ordinary American English is that you proceed according to the rules. Bills are written in subcommittee and committee and then go to the floor. When the House and Senate pass different versions -- likely when Republicans control the House and Democrats have a majority...
  • Findus admits frozen lasagne was made with 99% horsemeat and they don't know for how long

    02/07/2013 12:46:08 PM PST · by Perdogg · 46 replies
    Findus has tonight admitted that it has been selling packs of its popular frozen lasagne that were 99 per cent horsemeat. The news is the first time that it has been confirmed that horsemeat contamination of products sold in the UK has spread beyond beef burgers. There are concerns that the horse meat used in the lasagne contained the drug bute, which is a known human health risk. Findus was today unable to say how long horsemeat has been used in its products.
  • Obama Has Presided Over Weakest Multi-Year Economic Recovery Since WWII

    02/07/2013 12:18:32 PM PST · by Olog-hai · 4 replies
    Cybercast News Service ^ | February 7, 2013 | Matt Cover
    President Barack Obama has presided over the weakest multi-year economic recovery since the end of World War II, according to data from the Bureau of Economic Analysis (BEA). Since the end of the last recession in June 2009, the economy has grown only 7.5 percent—compared with the double-digit increases the economy experience in other multi-year post-World War II growth cycles. …
  • Dayton: Tax Cuts Caused Minn. Economic Problems

    02/07/2013 11:44:00 AM PST · by Son House · 31 replies
    Kttc.com ^ | Feb 06, 2013 | Patrick Condon
    Gov. Mark Dayton says in his State of the State speech that past state income tax cuts are partly to blame for chronic budget problems in Minnesota and that political leaders cannot afford to keep delaying difficult tax and spending decisions. Dayton is delivering the annual speech Wednesday night in the state House chamber. He says in advance excerpts provided by his office that income tax cuts in the late '90s were followed by a decade where Minnesota's economy fared worse than the nation as a whole and most other states. The speech is largely a pitch for Dayton's proposal...
  • NTSB questions Boeing’s 787 battery design and certification after short circuit

    02/07/2013 11:13:13 AM PST · by jazusamo · 30 replies
    Seattle Times ^ | February 7, 2013 | Dominic Gates
    A short circuit inside one cell started the 787 battery fire, and assumptions used to certify the battery system proved wrong, the NTSB said Thursday.The National Transportation Safety Board (NTSB) has pinpointed the start of the 787 Dreamliner battery fire on a parked Japan Airlines jet a month ago today as a short circuit inside a single cell. The agency still hasn’t identified the cause of the initial short circuit but has narrowed down the suspects. Details provided by the NTSB make clear that Boeing will have to redesign the battery for a long-term fix. In addition, the NTSB pointed...
  • Balanced Budget? Lower Taxes? Anyone Believe this Will Happen?

    02/07/2013 7:03:54 AM PST · by SeekAndFind · 11 replies
    Townhall ^ | 02/07/2013 | Michael Shedlock
    Government Executive reports House passes balanced budget bill. The House on Wednesday passed legislation that directs President Obama to submit a balanced budget plan to Congress this spring. The Require a Plan Act (H.R. 444) compels Obama to submit a supplemental budget by April 1 if his fiscal 2014 budget blueprint does not include a plan to balance the government’s books. That supplemental budget would outline a long-term deficit reduction strategy and timeline for balancing the budget. The chamber approved the legislation, shepherded by Rep. Tom Price, R-Ga., and the GOP leadership, after debating it Wednesday morning. The Democratic-controlled...
  • Jobless claims fall, trend reading at near five-year low

    02/07/2013 6:42:34 AM PST · by traumer · 51 replies
    Finance Search Thu, Feb 7, 2013, 9:19 AM EST - U.S. Markets open in 11 mins. Advertisement Advertisement Stock Watch Greenlight's Einhorn Sues Apple Over Cash Plans (See Story) Jobless claims fall, trend reading at near five-year low ReutersReuters – 41 minutes ago Email 1 Print Related Content A job seeker (R) meets with a prospective employer at a career fair in New York City, October 24, 2012. REUTERS/Mike SegarView Photo A job seeker (R) meets with a prospective employer at a career fair in New York City, October 24, 2012. REUTERS/Mike Segar WASHINGTON (Reuters) - The number of Americans...
  • U.S. productivity sinks 2% in fourth quarter

    02/07/2013 6:14:58 AM PST · by John W · 4 replies
    marketwatch.com ^ | February 7, 2013 | Jeffry Bartash
    WASHINGTON (MarketWatch) — U.S. businesses did not produce goods and services as efficiently at the tail end of 2012, the Labor Department said Thursday. Workers put in more time but companies barely increased their output. Productivity fell at a 2.0% annual rate in the October-to-December period, according to the agency’s preliminary assessment. The decline — the sharpest in almost two years — partly reverses a revised 3.2% gain in the third quarter. Economists surveyed by MarketWatch had expected productivity to fall 1.5%, largely because growth in the fourth quarter contracted and hours spent on the job increased.
  • Mark Levin: Obama Defies Federal Courts and Federal Law

    02/07/2013 5:34:49 AM PST · by sheikdetailfeather · 7 replies
    The Right Scoop ^ | 2/6/2013 | Mark Levin
    Mark Levin says that Obama has now created a constitutional crisis: We have a rogue board call the National Labor Relations Board. … Three people are sitting there unconstitutionally issuing opinions involving business and labor unions. The court ruled that they don’t have any power because Obama didn’t have the power to rule the Senate in recess and to make those appointments. Obama doesn’t have the power to change the welfare statute to eliminate work. Obama doesn’t have all kinds of power that he’s exercising. Neither does his bureaucracy over there at the EPA and so forth.
  • Iran's new stealth fighter jet under fire from critics

    02/07/2013 4:43:13 AM PST · by Daffynition · 31 replies
    BBC.com ^ | 2 February 2013 | Asher Moses
    Iran has unveiled a new home-made combat aircraft, which officials say can evade radar. The single-seat Qaher F313 (Dominant F313) is the latest design produced by Iran's military since it launched the Azarakhsh (Lightning), in 2007. President Mahmoud Ahmedinejad said it had "almost all the positive features" of the world's most sophisticated jets. He said the "development of the Iranian nation's military power is... for deterrence and defensive purposes".
  • President with no budget plan pleads with Congress to avoid sequestration

    02/07/2013 4:38:31 AM PST · by IbJensen · 10 replies
    GOP USA ^ | February 6, 2013 | McClatchy Washington Bureau Staff
    <p>WASHINGTON - President Barack Obama urged Congress on Tuesday to pass a package of modest cuts and tax changes as a way to delay drastic, across-the-board federal spending reductions that could harm the economy.</p> <p>But Obama's proposal would only postpone the $85 billion in automatic cuts, scheduled to take effect March 1, by a few months until a larger deal could be reached.</p>
  • Profound Weight of Layoffs Is Seen in Work Trends Survey

    02/07/2013 4:33:10 AM PST · by lbryce · 6 replies
    New York Times ^ | February 7, 2013 | CATHERINE RAMPELL
    Layoffs have touched nearly every American household in some fashion over the last few years, according to new survey data to be released Thursday by the John J. Heldrich Center for Workforce Development at Rutgers University. While about 8 percent of Americans are unemployed, nearly a quarter of Americans say they were laid off at some point during the recession or afterward, according to the survey. More broadly, nearly eight in 10 say they know someone in their circle of family and friends who has lost a job. “This to me is why the recession was so all-consuming and is...
  • Supermarkets cry foul as FDA proposes new food labeling rule under ObamaCare

    02/06/2013 7:37:01 PM PST · by Nachum · 30 replies
    Fox News ^ | 2/6/13 | Shannon Bream
    If the Food and Drug Administration gets its way, your trip to the grocery store could get a tad pricier. Supermarket owners argue a pending federal food-labeling rule that stems from the new health care law would overburden thousands of grocers and convenience store owners -- to the tune of $1 billion in the first year alone. (Snip) The rule stems from an ObamaCare mandate that restaurants provide nutrition information on menus. Most in the restaurant industry were supportive of the idea, but when the FDA decided to extend the provision to also affect thousands of supermarkets
  • Colombia reaches sustained production of over a million barrels of oil per day

    02/06/2013 7:59:07 PM PST · by JerseyanExile · 2 replies
    MercoPress ^ | February 5th, 2013
    Colombia announced that it produced an average of 1.01 million barrels of oil per day in January, marking the first time that average crude output for a month surpassed the one million-barrel mark that the government had set as a target for the country's oil industry. Last month's figure was more than 7% higher than the 944,000 barrels a day produced in January 2012, the Mines and Energy Ministry said in a statement. For all of 2012, average oil output stood at 940,000 barrels of oil per day, which represents a 3.16% increase from 2011. Colombia has seen its oil...
  • Mossberg expanding MVP series with new Patrol rifles

    02/06/2013 7:10:52 PM PST · by marktwain · 29 replies
    guns.com ^ | 5 February, 2013 | Max Slowik
    Mossberg is adding four new models of MVP—Mossberg Varmint Predator—rifles to their catalog for 2013. The new rifles make up the Patrol series, and are compact workhorse bolt guns chambered in 5.56 NATO and 300 AAC Blackout. Obviously marketed towards law enforcement and other civil servants that could use a good rifle, the MVP Patrol rifles will no doubt find homes with shooters of all types. The MVP is a Mossberg 4×4 that accepts AR-15 box magazines. Otherwise it’s a straightforward bolt-action rifle with eyes on simplicity and accuracy while still keeping costs down. The Patrol rifles differ from the...
  • The Nanny State and General Welfare

    02/06/2013 7:06:47 PM PST · by Tolerance Sucks Rocks · 9 replies
    Political Outcast ^ | February 6, 2013 | Eric Rauch
    An important point that is seldom made in modern political discourse is the uncreative nature of government. By this I mean that government, as an entity, does not and cannot create—it can only regulate. The governing documents of this country—the Constitution and the Bill of Rights—limit “government more than governments had ever been limited in any nation” prior. And for the first half of its 224-year existence, Leonard Read notes that: No citizen turned to government for help and for two reasons: (1) it had nothing on hand to give, and (2) it had not the power to take from...
  • New Coal Technology Harnesses Energy Without Burning, Nears Pilot-Scale Development

    02/06/2013 6:25:52 PM PST · by neverdem · 43 replies
    ScienceDaily ^ | Feb. 6, 2013 | NA
    COLUMBUS, Ohio—A new form of clean coal technology reached an important milestone recently, with the successful operation of a research-scale combustion system at Ohio State University. The technology is now ready for testing at a larger scale. For 203 continuous hours, the Ohio State combustion unit produced heat from coal while capturing 99 percent of the carbon dioxide produced in the reaction. Liang-Shih Fan, professor of chemical and biomolecular engineering and director of Ohio State’s Clean Coal Research Laboratory, pioneered the technology called Coal-Direct Chemical Looping (CDCL), which chemically harnesses coal’s energy and efficiently contains the carbon dioxide produced before...
  • Will Deep-sea Mining Yield an Underwater Gold Rush?

    02/06/2013 5:52:26 PM PST · by TigerLikesRooster · 21 replies
    National Geographic ^ | February 1, 2013 | Meghan Miner
    Will Deep-sea Mining Yield an Underwater Gold Rush? Some environmentalists say the lure of precious minerals threatens ocean life and local cultures. A mile beneath the ocean's waves waits a buried cache beyond any treasure hunter's wildest dreams: gold, copper, zinc, and other valuable minerals. Scientists have known about the bounty for decades, but only recently has rising demand for such commodities sparked interest in actually surfacing it. The treasure doesn't lie in the holds of sunken ships, but in natural mineral deposits that a handful of companies are poised to begin mining sometime in the next one to five...
  • Syracuse law would restrict employers' use of criminal background checks

    02/06/2013 4:39:43 PM PST · by Behind Liberal Lines · 17 replies
    Post Standard ^ | 2.6.13 | Tim Knauss
    SYRACUSE, N.Y. -- Two city councilors today proposed legislation that would make it illegal for any Syracuse employer to ask a job applicant whether he or she has been convicted of a crime -- unless the employer is ready to offer that applicant a job.... By deferring questions about past crimes until after a conditional job offer has been made, the law would give ex-convicts a better chance to impress potential employers, Bey said. “What we’re saying is, allow them an opportunity to demonstrate their talent,’’ he said.... Under the proposed law, an employee from the city’s department of neighborhood...
  • Ethiopia: Geo-thermal Power Expansion to Begin At Aluto-Langano

    02/06/2013 4:38:24 PM PST · by JerseyanExile · 2 replies
    All Africa ^ | Febuary 3, 2013 | Yetneberk Tadele
    Expansion work is to begin at the Aluto-Langano Geo-thermal Power Plant, in February, with the delivery of equipment to the site. The project, estimated to cost 35 million dollars, has already had 17 containers of materials delivered, with 10 more currently at the dry port, according to Miskir Negash, public relations officer of the Ethiopian Electric Power Corporation (EEPCo). The Corporation will also import 400tn of international standard cement over the coming few weeks, Miskir said. The expansion includes the digging of four wells, up to 2,500m deep, boosting Aluto-Langano's geo-thermal capacity to 70Mw; the total potential for the country...
  • Obama Tells NARAL: We Celebrate Roe, 55 Million Abortions

    02/06/2013 4:34:52 PM PST · by NYer · 21 replies
    Life News ^ | February 6, 2013 | Steven Ertelt
    In a videotaped address to the NARAL pro-abortion group last night, President Barack Obama told the organization that he celebrates the Roe v. Wade decision, that has resulted in well over 55 million abortions.“Tonight we celebrate the historic Roe v. Wade decision handed down 40 years ago, but we also gather to recommit ourselves to the decision’s guiding principle: that women should be able to make their own choices about their bodies and their health care,” Obama said in the videotaped message.“Tonight we celebrate the historic Roe v. Wade decision handed down 40 years ago, but we also gather to...
  • GOP Divided on Sequestration

    02/06/2013 4:15:02 PM PST · by SkyPilot · 35 replies
    US News ^ | 6 Feb 13 | Lauren Fox
    With less than a month left to replace the $1.2 trillion in automatic budget cuts scheduled for March. Republicans revealed Wednesday their party is divided over what is more important: protecting the Department of Defense or pushing spending cuts no matter the cost. Republican Sens. Jim Inhofe of Oklahoma, Kelly Ayotte of New Hampshire, Lindsey Graham of South Carolina and John McCain of Arizona continue to speak out about how devastating across-the-board spending cuts would be to the Pentagon, while their GOP colleagues in the House say sequestration, no matter the cost, may be the only way to force...
  • $110 million for embassy ... in Suriname?

    02/06/2013 4:12:51 PM PST · by Steve Peacock · 17 replies
    WND ^ | Feb. 6, 2013 | Steve Peacock
    Tiny nation rich in oil, gold led by alleged killer, drug-traffickerThe Obama administration will pump upwards of $110 million into a new U.S. Embassy compound in Suriname, a South American nation whose population of 580,000 is equivalent to that of Wyoming, the least-populated U.S. state. Jay Anania, U.S. ambassador to Suriname, said last year during his Senate confirmation hearing, “It is very much in the United States’ interest that Suriname remains a stable democratic partner.”
  • Norquist: Immigration is good for the GOP

    02/06/2013 3:31:57 PM PST · by AuntB · 44 replies
    The Daily Caller ^ | 2/4/2013 | Neil Munro
    Americans for Tax Reform head Grover Norquist says that large-scale immigration is good for America and the Republican Party — and that critics of easy immigration should get out of the way. “There are a whole bunch of people who are listening to loud voices, some of whom claim to be Republican … talking about [employers] who didn’t fill out the paperwork, about going after [an immigrant's] aunt,” said Norquist, whose opposition to tax increases has made him popular among Republicans and a hate-figure among progressives. Once advocates for tighter immigration are sidelined, the GOP will be able to win...
  • ‘Current policy repels foreign talent’

    02/06/2013 3:26:52 PM PST · by Jyotishi · 13 replies
    The Pioneer ^ | Wednesday, February 6, 2013 | S. Rajagopalan
    Wahington - As the US Congress kicked off hearings on comprehensive immigration reforms, two well-known Indian-American experts made a compelling case for urgent steps to reverse its existing policies that “chase away” foreign talents graduating from American universities instead of capitalising on them. “We need the world’s best and brightest more than ever before. Yet, as the research of my team at Stanford, Duke and UC-Berkeley has shown, our visa policies are doing the opposite: chasing away this talent,” said Vivek Wadhwa, Director of Research at Duke University’s Pratt School of Engineering. While Wadhwa and Puneet Arora, Vice-President of Immigration...
  • Ginormous Numbers Could Create a Mental Black Hole

    02/06/2013 1:46:58 PM PST · by lbryce · 14 replies
    Live Science ^ | February 5, 2013 | Lia Ghose
    Giant numbers, like Graham's number, are so huge that they are bafflingly hard to grasp. A trillion. A googol. A centillion. TREE(3). Somewhere between zero and infinity is a host of finite, but mind-bogglingly huge numbers. But while mathematicians have dreamed up large numbers for ages and they pop up frequently in physics and math, gigantic numbers are bafflingly hard to fathom. "Really big numbers are in every piece of technology we look at, in every organism we look at," said John Borwein, an applied mathematician at the University of Newcastle in Australia. And yet, "These are enormous numbers that...
  • Insiders now aggressively bearish

    02/06/2013 12:51:08 PM PST · by MeneMeneTekelUpharsin · 10 replies
    Market Watch ^ | 6 February 2013 | Mark Hulbert
    This is worrisome because corporate insiders — officers, directors and the largest shareholders — presumably know more about their companies’ prospects than the rest of us do. If they were confident that the shares of their companies would soon be trading markedly higher, they wouldn’t be selling them now. Yet selling they are — at an alarming pace. snip To be sure, insiders have been selling heavily for several weeks now, and the market has continued to rise — including the Dow’s eclipsing of the 14,000 level in recent sessions. This surprising strength in the face of insider selling has...
  • Sweet: ObamaCare is going to cost us 127 million+ hours a year

    02/06/2013 12:46:09 PM PST · by SeekAndFind
    Hotair ^ | 02/06/2013 | Erika Johnsen
    Just a little midweek, midday roundup of a few of the most recent ways in which the Affordable Care Act is just not going according to plan. “Unexpectedly,” of course.The House Ways and Means, Education and Workforce, and Energy and Commerce Committees have teamed up on a new report called the “ObamaCare Burden Tracker,” meant to function as “a real-time online resource to help the public keep track of all of the new government mandates, rules, and red tape as a result of ObamaCare.” Every hour and dollar spent complying with the Democrats’ health care law are time and resources...
  • Sunnyvale energy startup Bloom Energy penalized for bringing in Mexican workers..

    02/06/2013 10:46:43 AM PST · by NormsRevenge · 9 replies
    Mercury News ^ | 2/6/13 | Eric Kurhi
    SUNNYVALE -- A prominent Silicon Valley clean-energy startup has been ordered to pay back wages and penalties for bringing in workers from Mexico and paying them about $2.66 an hour in pesos, the U.S. Department of Labor announced Tuesday. Sunnyvale-based Bloom Energy, which makes fuel cells and sells energy to clients including AT&T, Adobe, Coca-Cola, eBay, Google and Wal-Mart, was ordered by a judge to pay $31,922 in back wages and an equal amount in damages to 14 welders who were brought in to work alongside domestic workers refurbishing power generators. It followed a federal investigation that inspected records from...
  • Immigration's Latest Ally: Christian Right

    02/06/2013 9:59:06 AM PST · by Mrs. Don-o · 18 replies
    Politico ^ | February 6, 2013 | Anna Palmer
    The usual suspects pushing immigration reform have a new ally in the fight this time — the religious right. Ralph Reed’s group, the Faith and Freedom Coalition. released a letter Tuesday that outlines broad goals for reform, like keeping families together, reforming the visa system and securing the border. High profile leaders are also weighing in. Mathew Staver, vice president of Liberty University, the college started by former TV minister Jerry Falwell, is on board. Focus on the Family is supporting immigration reform for the first time in its history — even using its radio broadcast that reaches millions to...
  • Postal Service plans to end Saturday mail delivery by August

    02/06/2013 9:47:53 AM PST · by Morgana · 36 replies
    Washington Post ^ | Ed O'Keefe
    The financially struggling U.S. Postal Service announced Wednesday that it plans to stop delivering mail on Saturdays starting Aug. 1 — but will continue delivering packages. Unless forbidden to do so by Congress, which has moved in the past to prohibit five-day-a-week delivery, the agency for the first time will delivery mail only Monday through Friday. The move will save about $2 billion a year for the Postal Service, which has suffered tens of billions of dollars in losses in recent years with the advent of the Internet and e-commerce, officials said. “The American public understands the financial challenges of...
  • Obama picks REI executive Sally Jewell to lead Interior Department

    02/06/2013 8:06:08 AM PST · by bgill · 21 replies
    LA Times ^ | Feb. 6, 2013 | Kathleen Hennessey
    Jewell has served as the outdoor retailer's CEO since 2005. She started her career as a petroleum engineer working in the oil fields of Oklahoma and Colorado for Mobil Oil Corp. She then moved to the banking industry, before joining the REI board in 1996 and becoming chief operations officer four years later.
  • Reagan’s Four Principles and Texas’ Prosperity (Happy Birthday today, to a Great President)

    02/06/2013 8:47:34 AM PST · by SeekAndFind · 10 replies
    Townhall ^ | 02/06/2013 | Peggy Venable
    Ronald Reagan was born Feb 6, 1911. This week marks the 102nd anniversary of Ronald Reagan’s birthday. It provides a time to reflect on the leader and on his vision for America. A former Democrat turned Republican, he had led a labor union and as an actor was an unlikely Presidential candidate when he first ran for President in 1976 against then-President Ford. He was not the typical Republican and frankly rocked the Republican establishment. But he eloquently articulated optimism for our country and a vision which garnered the support of voters from both parties as well as citizens who...
  • Gallup: U.S. Job Creation Index Dips to 11-Month Low in January 2013

    02/06/2013 8:36:30 AM PST · by SeekAndFind · 9 replies
    Gallup ^ | 02/06/2013 | Lydia Saad
    The Gallup Job Creation Index averaged +16 in January, the lowest monthly index level in 11 months, after one-percentage-point declines each month since November 2012. Despite this, the index remains fairly high relative to the past four years. January's results are based on 32% of U.S. adult workers saying their employers are hiring and expanding the size of their workforces, and 16% saying their employers are letting workers go and reducing the size of their workforces. Both components of the index are down slightly from December. However, the two-point decline in hiring, from 34%, exceeded the one-point decline in workers'...
  • Shrinking U.S. labor unions see relief in marijuana industry - (Not surprising, really)

    02/06/2013 7:54:05 AM PST · by re_tail20 · 32 replies
    Reuters ^ | February 6, 2013 | Samuel P. Jacobs and Alex Dobuzinskis
    Except for one thing: On the glass door - under a green cross signaling that cannabis can be bought there for medical purposes - is a sticker for the United Food and Commercial Workers union (UFCW), the nation's largest retail union. The dispensary, the Venice Beach Care Center, is one of three medical marijuana dispensaries in Los Angeles that are staffed by dues-paying union members. Another 49 in the city plan to enter into labor agreements with the UFCW this year, the union says. Together, the dispensaries are a symbol of the growing bond between the nascent medical marijuana industry...
  • City of Baltimore is on a path to financial ruin, report says

    02/06/2013 7:52:45 AM PST · by rightwingintelligentsia · 24 replies
    Fox News ^ | February 6, 2013
    WASHINGTON – The Baltimore city government is on a path to financial ruin and must enact major reforms to stave off bankruptcy, according to a 10-year forecast the city commissioned from an outside firm. The forecast, obtained by The Associated Press ahead of its release to the public and the City Council on Wednesday, shows that the city will accumulate $745 million in budget deficits over the next decade because of a widening gap between projected revenues and expenditures. If the city's infrastructure needs and its liability for retiree health care benefits are included, the total shortfall reaches $2 billion...
  • Fox News Dumps Dick Morris, Renews Karl Rove

    02/06/2013 7:42:47 AM PST · by SeekAndFind · 76 replies
    American Thinker ^ | 02/06/2013 | J. Robert Smith
    Dick Morris is gone from Fox News. Meanwhile, Karl Rove has been given a new multiyear contract. But why? A Fox News spokesman said only that the network chose not to renew Morris' contract. It's not hard to figure out why. Morris was glaringly wrong on the outcome of the 2012 presidential contest, predicting often and loudly that Mitt Romney would win in a romp. Funny thing is that Karl Rove was conspicuously wrong about the presidential results, too. Rove just wasn't as vociferous as Morris, except on Election Night. Even respected conservative elections analyst and commentator Michael Barone called...
  • Obama’s ‘Investment’ Non-Strategy: Spending more on education won’t drive economic growth.

    02/06/2013 7:15:05 AM PST · by SeekAndFind · 4 replies
    National Review ^ | 02/06/2013 | Jonah Goldberg
    Not long after President Obama proclaimed in his second inaugural that “an economic recovery has begun,” we learned that the U.S. economy actually shrank in the last quarter. Many economists believe this is a temporary setback. This recovery may be the weakest in American history, but the economy isn’t cratering either. Still, you can bet that if the economy continues to contract, Obama will propose the same remedy he always has: more “investments” in education, infrastructure, and various industries of the future. It seems that whatever the ailment, Dr. Obama always writes the same prescription. This is hardly shocking: Building...
  • How Not to Learn from Mistakes: Why the CBO’s predictions are consistently unreliable.

    02/06/2013 7:10:11 AM PST · by SeekAndFind · 1 replies
    National Review ^ | 02/06/2013 | Thomas Sowell
    People on both sides of tax issues often speak of such things as a “$300 billion tax increase” or a “$500 billion tax decrease.” That is fine if they are looking back at something that has already happened. But it can be sheer nonsense if they are talking about a proposed increase or decrease in the tax rate. The government can only raise or lower the tax rate. Whether the actual tax revenues that the government will collect as a result will go up or down is a matter of prophecy. And these prophecies have been wrong far too often...
  • US Government Wants To Help Manage Your IRA

    02/06/2013 7:06:12 AM PST · by SeekAndFind · 36 replies
    The Global Dispatch ^ | 02/06/2013 | Judy Aron
    A recent Bloomberg article stated this: _______________________ The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments. “That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details. The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey...
  • McDonnell transportation plan hits Democrat wall in Senate (Dems Kill McDonnell Tax Hike)

    02/06/2013 6:59:09 AM PST · by fractionated · 2 replies
    Hampton Roads Daily Press ^ | February 5, 2013 | Todd Allen Wilson
    Senate Democrats killed Gov. Bob McDonnell's comprehensive transportation funding plan that eliminates the state's gasoline tax in exchange for raising the sales tax to 5.8 percent Tuesday, just hours after the House of Delegates passed an amended version of the package. Senate Republicans offered two new versions of the plan that would have taxed gasoline at the wholesale level without increasing the sales tax, to no avail. The original measure's sponsor, Sen. Stephen Newman, introduced a new version of the bill that would have done away with the gas tax at the pump, and instead offer a wholesale gas tax...
  • Payback for a Downgrade? (The Feds sue S&P but not Moody's for pre-crisis credit ratings)

    02/06/2013 6:59:20 AM PST · by SeekAndFind · 13 replies
    Now, this is awkward. One agency of the federal government is suing a company for fraud while another agency continues to endorse it. On Monday in Los Angeles, the Department of Justice sued Standard & Poor's and its parent McGraw-Hill MHP -0.25% for $5 billion. The claim is that S&P committed civil fraud when it issued high credit ratings on mortgage-related securities prior to the financial crisis of 2008. Sixteen states and the District of Columbia have piled on the suit. No doubt investors who relied on the opinions of S&P and the other big credit-rating agencies, Moody's and Fitch,...
  • Postal Service to cut Saturday mail to trim costs

    02/06/2013 6:44:15 AM PST · by afraidfortherepublic · 1 replies
    Tampa Bay Online ^ | 2-6-13 | PAULINE JELINEK
    The U.S. Postal Service will stop delivering mail on Saturdays but continue to deliver packages six days a week under a plan aimed at saving about $2 billion annually, the financially struggling agency says. In an announcement scheduled for later Wednesday, the service is expected to say the Saturday mail cutback would begin in August. The move accentuates one of the agency's strong points - package delivery has increased by 14 percent since 2010, officials say, while the delivery of letters and other mail has declined with the increasing use of email and other Internet services. Under the new plan,...
  • Taking America from Welfare State to Opportunity Society

    02/06/2013 5:46:24 AM PST · by IbJensen · 9 replies
    Heritage Foundation ^ | February 6, 2013 | Matthew Spalding, Ph.D.
    “I must go to college!” insists eight-year-old Pierre William. Such planning may seem unusual in a second grader. But Pierre is lucky. He’s attending a private school in the District of Columbia using funds from the D.C. Opportunity Scholarship Program. That’s opened his eyes to the possibilities that only a college education can provide. His mother Patricia William says the program has taught her how to be a better parent and to be involved in her children’s education. She insists she’ll remain involved. “I try to stay focused and not get discouraged,” William says. That matters for her children, and...
  • Penney’s Johnson seen slashing jobs (JC Penney's meltdown continues...)

    02/06/2013 5:32:39 AM PST · by jimbo123 · 49 replies
    NY Post ^ | 2/6/13 | JAMES COVERT
    JCPenney CEO Ron Johnson is getting ready to break more hearts at headquarters — a few hundred more. In what some Penney insiders are calling the “St. Valentine’s Day Massacre,” the former Apple exec plans this month to fire at least 10 percent of the remaining 3,000 employees at the retailer’s home offices in Plano, Texas, sources told The Post. While the bloodbath was originally targeted for last month, sources said Johnson opted to delay it until after the flailing company’s fiscal year ended last week. “They wanted to throw the severance costs into this year because last year was...
  • Writing Is On The Wall: Time For Griffin & Block To Go

    02/06/2013 4:39:44 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | February 6, 2013 | Fred Wszolek
    At this stage, it should seem glaringly obvious to National Labor Relations Board (NLRB) Members Richard Griffin and Sharon Block that they should step down from the government agency. Both the legitimacy of their tenure over the last year and anything they do going forward is seriously in question. After being recess appointed by President Obama on January 4, 2012 even though the U.S. Senate was convening regularly in pro-forma sessions, Griffin and Block worked to issue decisions and write rules to the benefit of Big Labor and to the detriment of American employees and employers. Yet, the ruling recently...
  • The CBO quietly hikes the price tag on ObamaCare's insurance subsidies by 29%

    02/06/2013 4:28:23 AM PST · by IBD editorial writer · 10 replies
    Investor's Business Daily ^ | 02/05/2013 | John Merline
    The Congressional Budget Office on Tuesday quietly raised the 10-year cost of ObamaCare's insurance subsidies offered via the health law's exchanges by $233 billion, according to a Congressional Budget Office review of its latest spending forecast. The CBO's new baseline estimate shows that ObamaCare subsidies offered through the insurance exchanges — which are supposed to be up and running by next January — will total more than $1 trillion through 2022, up from $814 billion over those same years in its budget forecast made a year ago. That's an increase of nearly 29%. [snip] The CBO also expects 7 million...
  • Uh, Obama? We Have a Problem: Interest Expense to Hit $1 Trillion in 4 Years

    02/06/2013 4:15:43 AM PST · by Kaslin · 26 replies
    Townhall.com ^ | February 6, 2013 | John Ransom
    I hate to interrupt Obama’s “We Don’t Have a Spending Problem” World Tour. But reality intervened on Tuesday as the Congressional Budget Office released a report that says that the budget deficit will grow through 2023 and “will eventually require the government to raise taxes, reduce benefits and services, or undertake some combination of those two actions,” reports CBSNews- and all of that just to cover interest payments. “In its annual Budget and Economic Outlook,” writes CBSNews, “the CBO said debt held by the public will be bigger by 2023 than in any year since 1951 and will be at...
  • A Way Out of the Wilderness for the GOP

    02/06/2013 12:54:09 AM PST · by neverdem · 18 replies
    American Thinker ^ | February 6, 2013 | Ed Lasky
    Republicans hold a weak hand in Washington but a stronger grip in states where voters have entrusted them with power. Performances there can boost not just the Republican image but bring the party back to power in Washington. More importantly, they can show conservative principles work. The "Red State Model" can, in the Wall Street Journal's words, "Drive Republican Revival." Walter Russell Meade, one of our most brilliant thinkers, has written quite perceptively about the collapse of what he calls "the blue model." These are states that have been firmly in the hands of the Democratic Party and their allies...
  • US Economic Outlook for 2013

    02/05/2013 8:45:21 PM PST · by gloriasimmon · 2 replies
    http://www.useconomicoutlook2013.com/ ^ | 6-Feb-13 | gloriasimmon
    US Economic Outlook for 2013 | 2013 Economic Forecast America has a proud history of economic ingenuity. Since 1970, 51 Americans have been awarded the Nobel Prize in Economic Sciences (the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.1 The U.S. also has the largest and most technologically powerful national economy in the world, with aper capita Gross Domestic Product (GDP) of $48,442.2 There is no doubt that the U.S. is both a political and economic force, but will it remain so? When it comes to globally competitive economies, the U.S. is slipping. The U.S., which placed...