On Wednesday we bore witness to the release of the CBO’s report on the economy which included an appendix on the effect the Affordable Care Act is predicted to have on the economy. Unsurprisingly, ACA opponents fell all over themselves to report that the CBO had vindicated their “Obamacare is a Job Killer” talking points. However, it takes a bit more than copy and pasting
Both times in fairly recent years federal minimum wage was increased with the cooperation of Republican leadership. In 1996, the Republican-controlled House under Newt Gingrich, the minimum wage was raised from $4.25 to $5.15 over a 2 year period. The next wage increase took place a decade later, in 2006-2007, when Democrats won back control of the House. They found support for the increase in then President, George W. Bush. This instance raised the minimum rate to its current level of $7.25 per hour.
With each new bit of regulation proposed a screeching chorus rises from industry pronouncing the dire consequences set to befall the country if even the slightest utterance of such rules are dared spoken. How many times have these warnings of cataclysm been heard? And how many times have they come to pass?
From the New York Times
WASHINGTON — The Congressional Research Service has withdrawn an economic report that found no correlation between top tax rates and economic growth, a central tenet of conservative economic theory, after Senate Republicans raised concerns about the paper’s findings and wording.
The decision, made in late September against the advice of the agency’s economic team leadership, drew almost no notice at the time. Senator Charles E. Schumer, Democrat of New York, cited the study a week and a half after it was withdrawn in a speech on tax policy at the National Press Club.
Mitt Romney has touted his job creation prowes throughout the 3 presidential debates even providing us with a number, 12 MILLION new jobs during his first term. That’s great… that’s astounding! That would best even Obama’s 5.4 million new jobs over the last 2 years. But how will he accomplish this? Well, the answer is… NOTHING. In order to create 12 million new jobs within his first term Mitt Romney, President Mitt Romney will have to do nothing whatsoever… for the simple reason that those 12 million new jobs are ALREADY slated to be created under current Obama policies. As with foreign policy, all Mr. Romney has to do is continue with what has already been done under the Obama presidency.
The 2nd presidential debate last night was nothing if not exciting and tension filled. The Obama we knew from 2008 was back with fervor while Romney fought back hard to maintain his momentum and success from the first debate. There were several moments of clear disagreement or misunderstanding of the facts between the two candidates. Romney pressed the president on oil and gas permitting, the actual events surrounding the attack in Benghazi, budget deficits and immigration. The President, while much improved this time around, was unable to fully push back. So to play a bit of armchair debating and employ a healthy dose of 20/20 hindsight let’s revisit a few of these issues from last night.
Given the President’s disappointing performance during the first presidential debate and Mitt Romney’s approval bounce, it is quite clear that Obama needs to regain his focus. He needs to locate the master debater we witnessed in the 2008 campaign. But what is also clear is the President has to both challenge Romney on the multitude of his false claims and call him out over the Republican candidate’s continual flip-flopping.
A few events over the intervening week held sway enough to make me ponder aloud, “Does John Boehner truly understand American governance?”; “Are the embassy attacks about US policy?” and “Does President Obama flagrantly advocate abortion?”
Election years are crazy enough with the monkey poo fights that erupt across the political ad-osphere but the complete abandon of facts this time around has sent this season into a tailspin of opportunistic malfeasance as its players seek to rouse emotion at the expense of rationality.
Today we have two articles which delve into a disturbing possibility which has developed over the past 3 1/2 years. Has the Republican Party purposefully sabotaged the economic recovery from the Great Recession for no other reason but to regain power? It’s a tough question to answer definitively and is hard to believe all members of the party would subscribe to prioritizing the attainment of the presidency over the needs of average Americans amidst such an economic crisis. However, it’s just as difficult to dismiss such an accusation given the actions witnessed since the Obama presidency began. From the national GOP leaders inauguration evening adoption of a strategy to oppose everything put forth by the Administration to their subsequent, consistent opposition to middle class tax cuts, small business support legislation and anything stimulative in nature to record senatorial filibusters, the trend which has developed speaks volumes. It speaks to a coordinated effort to essentially disrupt economic recovery to ensure a Republican victory in 2012.