Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Jobs

GOP Uses Flyswatter to Defend Against Incoming Debt Missile

WASHINGTON - MAY 21:  House Minority Leader Jo...

Image by Getty Images via @daylife

Even with only  modest cuts in the continuing resolution bill offered by the GOP-controlled House of Representatives, it is highly unlikely to see the light of day when the Senate returns from recess, just before the March 4th deadline. Despite strong rhetoric from House Speaker John Boehner who said “When we say we’re going to cut spending, read my lips. We are going to cut spending, ” this reminded one of the identical words (“read my lips”) uttered by Republican Presidential candidate George H. W. Bush in 1988, which cost him his chance for re-election in 1992 when he voted for higher taxes the year before. Boehner’s words also generated a protest of Senate Majority Leader Harry Reid who accused Boehner of

Keep Reading…

Obama Budget Sleight of Hand

Of all the explanations, statistics, projections, and conjecture about the Obama administration’s new budget, nothing has had the impact of this simple graph in showing the assumptions, misstatements, and downright falsehoods that are required to “make the numbers work.”

The source for this very telling graph is the Obama administration’s Office of Management in budget. Below is the graph, as it appears in the Wall Street Journal.

Keep Reading…

Bernanke Issues Warnings, Accepts No Blame

Ben Bernanke dollar

Image by Gage Skidmore via Flickr

Federal Reserve Chairman Ben Bernanke’s address to the National Press Club on Thursday was a remarkable blend of hubris, claimed innocence, and warnings.

His opening remarks were condescending and patronizing to the journalists assembled:

Keep Reading…

Federal Deficit Outrage

A lot of digits

Image by aafromaa via Flickr

Back in August of 2010, the Congressional Budget Office estimated the federal deficit for 2011 to be $1 trillion. On Thursday, after revising its assumptions, the CBO announced they missed the mark by $500 billion.  The deficit number has been revised upward to $1.5 trillion, and could bring the national debt to $20 trillion by 2021.

Keep Reading…

The Chicago Merry-Go-Round

William Daley

Image via Wikipedia

When President Obama announced the appointment on January 6 of former Clinton administration Commerce Secretary William Daley as his new Chief of Staff, he had nothing but high praises for him, calling him a “patriot” who represented a position of moderation without histrionics. It also smacked of nepotism, continuing the circular flow of Obama insiders from the political machinery of Chicago to Washington and back again. The chorus of approval came from the usual sources, such as the U.S. Chamber of Commerce. Chief Executive Officer Thomas J. Donahue exulted:

Keep Reading…

Congressional Pushback

Michele Bachmann - Restoring Honor rally

Image by theqspeaks via Flickr

Now that the 112th Congress has been sworn in and subjected to the reading of the Constitution and its 27 amendments, the direction of that Congress is beginning to take shape. In response to pressure from Americanists, Tea Partiers, Constitutionalists, and other limited-government supporters, Congress’ first effort at legislation will be to vote today to cut its own budget by 5 percent. That would result in savings of a minuscule $35 million, but loyalists are taking heart that the “first olive out of the bottle is always the hardest” and that much bigger targets and greater success lie ahead. Repealing ObamaCare is next on the agenda with passage almost assured. Rep. Fred Upton, (R-Mich), new chairman of the House Energy and Commerce Committee, predicted not only that such a bill pulling ObamaCare “out by the roots” will pass, but might even be able to muster two-thirds of those voting.

Keep Reading…

FCC Ruling is Irrelevant

Internet Map. Ninian Smart predicts global com...

Image via Wikipedia

There have been sighs of despair and much hand-wringing coming from observers of the latest attempt by the FCC to intervene in the operations of the Internet. The noisiest came from one of the two commissioners who voted against the ruling, Robert McDowell.

Despite a court ruling earlier this year which limited the FCC’s jurisdiction over the Internet, and Congressional pressure to leave well enough alone, McDowell warned that the FCC’s decision yesterday is “likely to have the perverse effect of inhibiting capital investment, deterring innovation, raising operating costs, and ultimately increasing consumer prices.” He concluded that this decision “may end up marking the beginning of a long winter’s night for Internet freedom.”

Keep Reading…

The College Graduate Bubble: One Student’s Story

The entrance to the Gallatin School of Individ...

Image via Wikipedia

Cortney Munna bought the lie, hook, line and sinker. The College Board has been selling it for years: “Over the course of a 40-year career, the average college graduate earns about 66 percent more than the typical high-school graduate.” At age 17, Cortney and her mother, Cathryn, decided they “would do whatever they could to get Cortney into the best possible college, and they maintained a blind faith that the investment would be worth it,” as researcher Ron Lieber told their story:

Keep Reading…

Obama/CEO Summit: Sweetness and Light

President Barack Obama listens to Safeway Pres...

Image via Wikipedia

Despite being verbally abused and legislatively hamstrung ever since the start of the Obama administration, those CEOs arriving at the Blair House Wednesday for another Summit meeting with the President seemed in good spirits. In a pre-announcement, White House spokeswoman Jen Psaki, was all smiles:  “[This] working session is an opportunity for the president to continue building strong partnerships in the business community.”

Keep Reading…

College Education: Is It Worth it?

200 px

Image via Wikipedia

Back in September, The College Board published an update of its report, “College Pays,” confirming what most have considered inarguable and revealed truth: Whatever it costs to obtain a sheepskin will be worth it in the long run. The Executive Summary states flatly that “students who attend institutions of higher education obtain a wide range of personal, financial, and other lifelong benefits.”

These include:

Keep Reading…

Counting the Costs of Unemployment Insurance

Bismarck ca. 1875.

Image via Wikipedia

As part of the backroom deal to extend the Bush tax cuts for another two years, the GOP gave the progressives an extension of one of their favorite welfare-state building blocks: unemployment insurance—which will undoubtedly add to the long lines of suffering Americans in our country.

Otto von Bismarck, the “Iron Chancellor” of Germany in the 1880s, first introduced the concept of state-mandated unemployment insurance. It was then forcibly introduced in the United States during the Great Depression under the Roosevelt administration and has been expanded regularly ever since. In fact, the proposed extension would be the sixth such expansion since June of 2008.

Keep Reading…

Breaking Hauser’s Law

Hoover Institution

Image via Wikipedia

Writing in the Wall Street Journal, chairman emeritus of the Hoover Institution, Kurt Hauser, strongly disagreed with the Obama administration’s claim that by raising taxes on just the top two percent of all taxpayers there would be a significant increase in tax revenues to the government. He claimed that Hauser’s Law would limit any anticipated increase in revenues, and it might even reduce them.

Keep Reading…

GM’s IPO: Where’s the Weevil in the Hardtack?

Logo of General Motors Corporation. Source: 20...

Image via Wikipedia

Steven Rattner, former counselor to Treasury Secretary Timothy Geithner, celebrated in Huffington Post, “In the end, it was a blow out!” With the old General Motors successfully selling shares in its new General Motors at $33 per share, taxpayers will allegedly be getting back part of the $50 billion in bailout money used to rescue the company 17 months ago.

As Rattner exulted:

The mother of all initial public offerings—that of the refreshed, revitalized and revamped General Motors—went off better than almost anyone expected….

Keep Reading…

Behind the Numbers: October Employment Report

Spiekermann House Numbers

Image by Stewf via Flickr

Even though 151,000 new real jobs were added in October, according to the Bureau of Labor Statistics, the unemployment rate stayed at 9.6 percent. This announcement not only successfully masked the fact that fewer people were looking for work, which made the rate look better, but also that more people are staying unemployed longer.

Keep Reading…

Study: VAT Will Cost More Jobs, Reduce Living Standards

The VAT cometh

Image by wstera2 via Flickr

Time is running out on the Obama administration to pass a value-added tax: The mid-term elections are two weeks away with Democrats anticipating heavy losses, the lame-duck session is due to start on November 15, President Obama’s National Commission on Fiscal Responsibility and Reform publishes its report on December 1, and Congress already faces a long list of “must-pass” legislation. A just-released study about the negative impacts of a VAT isn’t going to help.

Keep Reading…

The Real Cost of the Wars

military cemetary

Image by Travlr via Flickr

When the book The $3 Trillion War debuted in 2008, it was roundly criticized by such notables as John Lott, Richard Zerbe and Edgar Browning, who held that estimates of the cost of the war in Iraq were overstated. But in a conference call earlier this week, authors Joseph Stiglitz (Nobel Prize winner) and Linda Bilmes (Harvard University professor), said they underestimated those costs by at least one third.

Keep Reading…

Bank Failures: 127 Down, 800 to Go

FDIC placard from when the deposit insurance l...

Image via Wikipedia

When Zacks Equity Research announced on Monday the failure of two more banks in the current recession, the silence was deafening. The report blamed the usual suspects: “tumbling home prices, soaring loan defaults, and a high unemployment rate continue to take their toll on such institutions.”

But buried in the report was the much more ominous forecast of the “increasing … possibility of more bank failures.” Zacks said that any bank which makes the FDIC’s problem bank list is essentially doomed. “As of now, only 13 percent of banks on [that list] have actually failed.” The number on that list? 829, up from 775 in the last quarter.

Keep Reading…

Recession is Over?

A man with empty trouser pockets

Image by EU Social via Flickr

With a straight face, the National Bureau of Economic Research (NBER) announced that the Great Recession ended last June. June of 2009, that is. This made the current recession the longest one since the Great Depression.

Keep Reading…

Reid’s Lame Duck Session: Just Mopping Up?

Photograph of a toddler holding a mop with a b...

Image via Wikipedia

Last Tuesday, September 7, when Senate Majority Leader Harry Reid (D-Nev.) said he intended to focus the current lame duck session on “mopping up” leftovers from the previous session, these included a national renewable energy policy, a small business jobs bill, and another stimulus bill. Reid said, “We are still going to be in Congress, working, after the election…There are things that we have to do. There is a lot of mopping up to do.” Reid failed to mention one small item that his lame duck session is determined to ignore altogether: the Bush “tax cuts” which are set to expire without Congressional action by the end of the year.

Keep Reading…

Meet Austan Goolsbee, Obama’s New Top Economic Adviser

Official portrait of CEA member Austan Goolsbee.

Image via Wikipedia

Few were surprised when President Obama replaced Christina Romer, chair of his Council of Economic Advisers, with another statist economist, Austan Goolsbee. Goolsbee is the architect of Obama’s failed economic policies and programs, having served as the executive director of the President’s Economic Recovery Advisory Board from the beginning.

A bright student at Yale where he enjoyed membership in the exclusive and elitist Skull and Bones secret society, Goolsbee went on to get his PhD from MIT, and then immediately became a professor at the University of Chicago. With stints at the American Bar Association and the National Bureau of Economic Research, he was named to Obama’s Council of Economic Advisers in March, 2009.

Keep Reading…

Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.