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Category: economy

White House advises Senate to not lead in an election year

8 February, 2012 (16:17) | economy, Redstate, Syndicated | By: soren

Senator Ron Johnson (R-WI) asked Ben Bernanke at the recent Senate Budget Committee if the lack of Presidential leadership was hurting the US economy. He asked, “I’m afraid President Obama has just been phoning it in here the last couple years in terms of our debt and deficit issue. … Can you speak to how harmful that is in terms of economic growth?”

Now Bernanke can’t answer these sorts of things straight away. But he basically got there. Here’s what he said:

Well Senator, I’m not going to comment on parliamentary maneuverings, but Senator Wyden made exactly the same question. You know, is uncertainty about the future of the tax code, government programs, and so on a negative for growth? I think it is because firms like to have certainty, like to be able to plan. And again I would take on the same responsibility as a regulator, that we need to make regulations as clear and as effective as possible.

So he’s saying that firms like to have certainty and that as a regulator, Bernanke wants things to be clear and effective. Today Jake Tapper asked Jay Carney about this. Should Senate pass a budget? Does the President have an opinion on this? Turns out that the answer is no

TAPPER: The White House has no opinion about whether or not the Senate should pass a budget? The president’s going to introduce one. The Fed chair says not having one is bad for growth. But the White House has no opinion about whether –

CARNEY: I have no opinion — the White House has no opinion on Chairman Bernanke’s assessment of how the Senate ought to do its business.

I think it is worth recalling why the Senate stopped passing budgets. Because they are politically difficult, and being accountable is hard in an election year. The Senate last passed a budget on April 29, 2009. They didn’t work on a budget in 2010. Why? Because a budget requires taking responsibility for the fiscal state of our country. And it was clear that the 2010 election was going to be rough for Democrats. So what did they do? They ducked. They dodged all responsibility. Republicans were willing to do it in the House, but the Senate was not. They didn’t even bring a serious budget to the floor and haven’t since.

And since the Republicans have been able to put their ideas up for inspection by the American people. See the Ryan Budget. Republicans are willing to fight an election on ideas and tell the American people what sacrifices will need to be made to address our fiscal crisis.

But now, not only is the Senate failing the American people, but President Obama is helping the Senate in dodging this responsibility. The fact is that he has no opinion on running the country like an adult. He has “no opinion” about giving business certainty.

Thank you Ron Johnson for asking the question and getting the clarity on this from Chairman Bernanke. And thank you to Jake Tapper for asking the White House if they are interested in leading.

They aren’t.

 

What Obama’s tire treatment teaches us about his administration

14 September, 2009 (08:13) | economy, International, Syndicated, The Next Right, trade | By: soren

 At 9:18 Friday night, I got an alert from the Washington Post. Barack Obama had slapped tariffs on imports of Chinese tires. Barack Obama’s handling of this issue shows several things. First, it shows a real contempt for China, trade policy, and …

Romney’s closing message in Michigan or a new campaign?

15 January, 2008 (08:59) | economy, Michigan | By: soren

Dean Barnett offers a scathing assessment of the Romney campaign today. I don’t want to focus on that here, instead his closing: I hope Mr. Romney does well enough in Michigan today that he gets the opportunity to introduce the public to the real Mitt Romney. He is a wonderful and gifted guy. It would [...]

McCain town hall in Reagan Democrat country

12 January, 2008 (13:38) | economy, Michigan | By: soren

(Cross-post from Redstate) Macomb County, Michigan, is one of the homes of the Reagan Democrat. Today, I saw John McCain give a town hall in the closing stretch of the Michigan primary. I don’t have pictures because my video camera was stolen, but I have impressions. Michigan is in an a single-state recession. Unemployment is [...]

Romney out of touch?

11 January, 2008 (18:36) | economy | By: soren

I have worried about the strange sense that I get that Mitt Romney is out of touch. He seems like a rich guy who doesn’t understand what normal people go through. The question is whether this impression gets down into the voters. MSNBC’s exit polls found that in New Hampshire the only income class that [...]

Turnaround artist didn’t turn around Mass. Job Growth

10 January, 2008 (09:49) | economy | By: soren

In March of this year the Boston Globe analyzed Mitt Romney’s economic record in Massachusetts: On all key labor market measures, the state not only lagged behind the country as a whole, but often ranked at or near the bottom of the state distribution. Formal payroll employment in the state in 2006 was still 16,000 [...]

Steve Forbes, Rudy, Romney, and the economy

9 January, 2008 (14:47) | economy, Michigan | By: soren

(Cross-posted from Redstate) Two days ago (technical problems delayed this) in Manchester, New Hampshire, I sat down with Steve Forbes, and we talked about his endorsement of Rudy Giuliani, and his thoughts on the economic records of the other candidates. As a supporter of Rudy Giuliani’s he has the most to say about what he [...]

Defining news story of the cycle?

27 November, 2007 (11:27) | economy, International | By: soren

We might have just found the issue and story that crystalizes the anxieties of all Americans around a protectionist message. The story is: Citigroup Inc., the biggest U.S. bank by assets, will receive a $7.5 billion cash infusion from Abu Dhabi to replenish capital after record mortgage losses wiped out almost half its market value. [...]

Economy most important issue?

12 November, 2007 (18:21) | economy | By: soren

Last week at Blog World Expo, a fascinating discussion broke out. Jerome Armstrong from MyDD and Markos from DailyKos, among other lefties, argued that Iraq was going to be a driving issue. They, furthermore, argued that success wouldn’t matter, because the failure was the initial decision, and Americans will stop paying attention The righties, Hugh [...]

Handling economic instability…Immigration?

25 October, 2007 (07:53) | economy | By: soren

Joe Klein posits that the GOP may end up running on immigration in 2008: It’s long been my belief that the GOP hole card in 2008 is going to be a rancid furriner-bashing anti-illegal-immigrant smear campaign. …  A few months ago, I asked Mitt Romney if he thought illegal immigration was a net economic plus [...]