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Category Archives: Economy

Will the federal government default?

If the President (and his Senate) fail to reach a deal on raising the debt ceiling on October 17th, will the federal government go into default? Only if Barack Obama wants it to, because it’s entirely in his hands. Monthly revenue can easily cover the amount America must spend to service its debt. On top […]

Do we have a revenue problem?

Tax receipts are at near-record highs, and yet: We do not have a revenue problem. We have a spending problem.

Obama focuses like a laser on jobs …

… again. Or rather, he’s focusing on empty speeches about focusing on jobs. Same ****, different day. Pay no attention to the man behind the curtain, and don’t believe your lying eyes.

What does sixteen trillion dollars look like?

Looking at the spinning numbers of the National Debt Clock doesn’t quite convey just how much the Democrats liberals progressives statists in Washington have spent. Try this. We. Do. Not. Have. A. Revenue. Problem.

Happy Halloween

The October Surprise jobs report (UPDATED)

The Bureau of Labor Statistics reported that U-3 unemployment for September dropped to 7.8% after seasonal adjustment. Good news? No. Employment’s at 92.2% now? No. Surprising news? No, it was completely predictable. I’m only surprised that they fudged the numbers so blatantly. I thought they’d at least try to be more subtle. The U-3 unemployment […]

Unemployment October Surprise? (UPDATED)

Oct 5, 2012 Update: And just like clockwork, they’ve cooked the books again. — Don’t be surprised if August’s unemployment rate gets quietly revised from 8.1% to 8.0% this week. That would set up a more plausible-looking report of 7.9% unemployment for September, since a drop from 8.1% to 7.9% right before the election would […]

At present, Obama’s still voting “present”

Barack Obama is the President of the future. He spends all of his time daydreaming about the glorious utopia to come, while the rest of us are stuck in the crap hole that he and his progressive friends have turned America into. Mark Steyn’s latest: No doubt living in Obama’s future will be peachy. But […]

We’re in another recession

The economy grew at a depressingly weak pace all year, and by this time next year we’ll be pointing to right about now as the beginning of The Second Obama Recession. What a record of success he’s piled up, huh? Imagine what he’ll accomplish by 2016.

Do the rich pay their fair share?

I have questions for people who say “the rich don’t pay their fair share.” What counts as “rich” to you? Are we looking at net worth? Annual income? Households or individuals? What’s the cutoff for “fair share,” pray tell? 40% of income? 50%? 75%? 100%? Or are we talking about confiscating wealth instead of just […]

Before you get all wee-wee’d up over 163,000 jobs …

… remember that you can’t get the full picture from news reports that only mention how many jobs were added. The size of the whole population also changed, and so did the size of the labor force. The full picture got worse last month. Click the image to see it at full size: If you […]

The Sayonara Zone

How bad must things get for a first term president (or the nominee of a two-term president’s party) before he’s in serious danger of losing his next election? How can we quantify “bad?” I decided to scatterplot the presidential approval ratings tracked by Gallup against the infamous “Misery Index” — U-6 Unemployment plus the current […]

Do we have a revenue problem?

Take a look at the average American’s share of federal revenue and spending from 1920 to now, adjusted for inflation to the value of a dollar in the year 2005. Click the chart to see it at full size. Since around 1995, the amount of revenue Uncle Sam has been able to squeeze out of […]

In honor of Obama’s budget

See #MorePopularThanTheObamaBudget on Twitter, or just click ol’ Rutherford.

If Barack Obama’s policies really are “creating jobs” …

… then why aren’t the employment numbers showing it?

What if we cut all defense spending?

Would we balance the budget and reduce the national debt if we completely eliminated every last dime spent on the military and on defense? The numbers speak for themselves. Look at the chart. We do not have a revenue problem. We have a spending problem.

“Hey, Reagan increased the debt just like Obama.”

Oh, really? When a country’s debt climbs past 60% of the total size of its economy for an entire year (what economists call its “Gross Domestic Product”), the country’s economic health suffers. When the debt-to-GDP ratio passes 90%, alarm bells go off. The longer it stays that high — or higher — the greater the […]

What’s the definition of “futility?”

Expecting extreme left-wing Senator Sherrod Brown (D-Utopia) to give a coherent answer to a question about why gas prices are so high. I’ll bet you a hundred bucks, Duke, that Senator Brown can’t explain why oil speculators smooth out price swings in the oil market.

The Obama budget

This chart comes from the White House (check page 58 of the monster PDF file), not from some crazy right wing extremist oppressor of downtrodden poor people and kicker of puppies. This is the Obama Administration’s current plan, in a document never intended to actually be passed.  It’s published strictly for election propaganda (“Look!  It’s a […]

Unemployment 101

Figures often beguile me, particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: “There are three kinds of lies: lies, damned lies and statistics.” — Mark Twain When you see a cheery report like this … … what they’re talking […]