Economy

Mythology of the Businessman-Politician

Read Greg Sargent's Plum Line blog today, which links to what he calls a brutal dissection from David Stockman on The Daily Beast of Romney's reason for running -- his business experience at Bain Capital. Stockman says:Romney was not a businessman; he...
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Obama Better on Debt Than Reagan

When he claims the president has doubled the deficit, Mitt Romney is an out and out liar.
First, as the graph shows, the President has reduced the deficit. The Red column on the graph represents George W. Bush's contribution to the deficit. But serial liar Romney falsely claims Obama has doubled the deficit.  Not only has the president NOT doubled the deficit, the president has reduced it.
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Democrats Hold Upper Hand As Fiscal Cliff Approaches

Robert ReichThese are awkward days for deficit hawks who believe the American economy can get back to health only if the nation gets its fiscal house in order. If they get their wish, the economy goes over a cliff.Regardless of what happen...
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Consumer Sentiment Rises To Five Year High

Once again, queue the conspiracy theorists! First unemployment drops to 7.8% and the right freaks out, then jobless claims drop and the right freaks out, now we have consumer sentiment reaching a five year high.
"The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, marking the highest level since September 2007." CNBC is reporting.
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Come Help Create a Vision for Public Education in TX

What should public education look like in the years to come? What should the role of schools be in our communities, how should our achievement be measured, where do we focus our resources, and how do we best prepare our children for a life of learning and a productive career or path?
These are just some of the questions Texas AFT will explore in a series of statewide meetings designed to be a dialogue with educators, parents, and all community members to help craft a vision for public education.
Be a part of a community conversation to identify how to improve our public schools in the...
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Let Texans Answer Gambling Question

This week, John T. Montford, the spokesperson for Let Texans Decide, published an op-ed in the Austin-American Statesman calling for Texans to demand the right to vote on legalized expanded gambling in the state.
Each year our fellow Texans spend more than $2.5 billion in strategically placed, just-across-the-border gaming facilities in Oklahoma, Louisiana and New Mexico. The potential benefits to our economy are huge. Depending on the specifics, expanded gaming could create 75,000 permanent jobs in 40 different sectors of the economy, and it would bring several billion dollars in economic development to Texas.
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Romney's Phony Answers To Tough Health Care Questions

During last week's debate, GOP presidential nominee Mitt Romney once again pledged to repeal Obamacare, but he was light on details about what he would replace it with, other than to suggest that his administration would encourage states to come up with reform plans of their own.
"What we did in Massachusetts is a model for the nation, state by state,"
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Auto Sales Highest in Over 4 Years... Even Higher Than During 'Cash for Clunkers'

New car sales are rising. In September 2012, auto sales were at their highest level since February 2008, including August 2009 when the government’s “Cash for Clunkers” program caused a temporary spike in sales.
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QE Infinity: Doubts Surface From All Sides

 QE3, the Federal Reserve’s third round of quantitative easing, is so open-ended that it is being called QE Infinity. Doubts about its effectiveness are surfacing even on Wall Street. The Financial Times reports:
Among the trading rooms and floors of Connecticut and Mayfair [in London], supposedly sophisticated money managers are raising big questions about QE3 — and whether, this time around, the Fed is not risking more than it can deliver.
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MI State University Study Finds 40% Of Manufacturers Are Bringing Jobs Back to the US

What does this study prove? It proves that President Obama is NOT pushing business away as the Republicans would have you believe. Why would a corporation come back to the United States when a President is so anti business?
The study found that 40 percent of manufacturing firms believe there is an increased movement of “reshoring” – or moving manufacturing plants back to the United States from countries such as China and India. While the results differed by industry, the trend was led by aerospace and defense; industrial parts and equipment; electronics; and medical and surgical supplies.
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