Republican Vice President candidate Paul Ryan was on “This Week with George Stephanopoulos” on Sunday. One of the first questions, Stephanopoulos asked Ryan was about his claim that a Romney administration would create 12 million new jobs. Stephanopoulos said that economists, such as those at Moody’s, are expecting 12 million new jobs regardless of who the president is, so… Read more »
Posts Tagged: economy
Adjusting for inflation, the minimum wage today is lower than it was in 1968. “If you’re one of the several million Americans earning minimum wage, here’s a sobering fact: Your grandpa had more spending power earning minimum wage four decades ago,” writes Life Inc’s Senior Business Reporter Allison Linn. “Adjusted for inflation,” Linn reports, “the… Read more »
If you listen politicians, pundits and talking heads, you’d think the greatest thing we can do to jump-start the economy is to cut taxes. But if you actually take a minute and look at the data, you’ll see that is simply not the case. New York Times Economix Blogger David Leonhardt broke down the growth… Read more »
Here’s a graph by the New York Times of past recessions and employment recovery. If the recession is over, it sure doesn’t feel like it to people who don’t work on Wall Street. This is an example of how the Democrats screwed themselves over by not effectively governing and allowing Republicans to gut their efforts… Read more »
Here are two screenshots from Rachel Maddow’s show on Friday highlighting how much the economy sucks. The private sector added jobs, but those gains were swamped by the government shedding jobs.
The liberal mainstream media has fallen in love again. This time it’s with Wisconsin’s Republican Representative Paul Ryan and his “Roadmap for America’s Future” version 2.0. Everything’s version 2.0 these days, but in Ryan’s case, his roadmap to “solve America’s long-term economic and fiscal crisis” is really more of a 1.1 version. You see Newt… Read more »
It’s time for some tough love folks. The sad fact is that the economy sucks and there’s nothing we can do about it within the confines of our current political system – it’s rigged. Unemployment will continue to hover around 10 percent for years, with real unemployment at closer to 20 percent. Wages will continue… Read more »
On his show today Glenn Beck said that today, Wednesday July 21, 2010 would go down in history along side of October 29, 1929 (The Great Depression), December 7, 1941 (World War II) and September 11, 2001. Yes, that’s right folks, today is the day that President Obama signed into law financial regulatory reform. It… Read more »
In this YouTube video mashup from yesterday’s show, Rachel Maddow exposes the hypocrisy and idiocracy of the GOP’s deficit hawk lameness.
For seven months a team of investigative journalists from ProPublica looked into a story for us, the inside story of one company that made hundreds of millions of dollars for itself while worsening the financial crisis for the rest of us. It includes our original Broadway song “Bet Against the American Dream.”
So even if the Tea Party folks saw the light, what can ordinary Americans do?
That’s the question I want to put to my guests, Simon Johnson and James Kwak. They have written this new book, 13 Bankers: The Wall St. Takeover and the Next Financial Meltdown. It’s a must read – already a best seller — and it couldn’t have come at a better time. This book could change the debate over financial reform by tipping it in favor of the public.
The main moral you should draw from the charges against Goldman, though, doesn’t involve the fine print of reform; it involves the urgent need to change Wall Street. Listening to financial-industry lobbyists and the Republican politicians who have been huddling with them, you’d think that everything will be fine as long as the federal government promises not to do any more bailouts. But that’s totally wrong — and not just because no such promise would be credible.
Fresh from the Friday news dump, the Securities and Exchange Commission filed a civil suit against Goldman Sachs alleging that the firm engaged in securities fraud.
The too-big-fail Wall Street giant emerged from the recent financial crisis unscathed while 8 million Americans lost their jobs.
I’ve been scratching my head as to what this Tea Party thing is all about since it started last April 15 with people protesting paying their taxes, it didn’t make sense to me then, but I’ve got it figured out now. What has had me perplexed, besides the contradictions in their message, is why the… Read more »
Nomi Prins is a senior fellow at the public policy center Demos and she published a story today on Alternet about how Wall Street fatcats are raking in stacks of cash and up to their old tricks again while they lobby Congress to not regulate them. So far it looks like the Democrats are kind… Read more »
“Take Steve Driehaus, for example,” Rep. John Boehner (R-OH) said. “He may be a dead man. He can’t go home to the west side of Cincinnati.” That was Boehner last week. Since then, Driehaus (D-OH) did vote for health care reform and he’s had several threats against his life. Photos of his children have been… Read more »
Here’s the transcript and video of President Obama’s Weekly Address. The topics are the economy, the difficulty of bipartisanship in an increasingly partisan Washington and the “pay as you go” rule Obama signed into law last night. The transcript was provided by the White House and downloaded from WhiteHouse.gov on Feb. 13, 2010 at approximately 10:15 a.m. Eastern.
President Obama held a news conference following a bipartisan meeting with House and Senate Republicans and Democrats. Here is the full transcript and complete video of the news conference. The transcript was provided by the White House and downloaded from WhiteHouse.gov on Feb. 10, 2010 at approximately 10:00 a.m.
While data and statistics don’t tell the whole story about our flailing economy and unemployment, but this chart created on Feb. 5, 2010 by the Bureau of Labor Statistics is pretty cool. Jobs are being created, even if slower than we’d like.
Here we go again. Just like in 2003, groupthink is sweeping the nation. When the war drums were beating their loudest to attack Iraq, the media and pundits were onboard with the Bush administration lies. No one challenged what everyone knew to be true – that Saddam Hussein had weapons of mass destruction and he was going to attack the US. Now seven years later, we’re back at it again, but this time it’s that deadly deficit that will surely kill you and your family before the year is through.