Money and Politics

“At some point, if the U.S. does not address proactively its deficit outlook and its debt outlook, there will be a financial-market revolt,”..

via Deficit, Budget Woes Need Solutions as U.S. Nears the Precipice – WSJ.com.

How’s all that Stimulus cash working out for the states?

The nearly $200 billion earmarked for the states in the stimulus bill is proving to be a bigger headache than most of them anticipated.

via American Thinker Blog: How’s all that Stimulus cash working out for the states?.

BACK IN 2004, MOVEON MADE A POLITICAL SPOT about how Bush was saddling our kids with too much debt. The folks at RedState have updated it for 2009. Best political parody of the season.

Posted at 2:52 pm by Glenn Reynolds

Instapundit

I’m still waiting for Obama to do something, anything, to stimulate the economy, rather than package up entitlements, public sector spending bumps, billions for ACORN, corporate welfare, and earmarks, call it ‘stimulus’ (although its the exact opposite of stimulus) and then jack up taxes (which is actually de-stimulating) to pay for it.

Of course, we all assume he actually wants to improve the economy… fact is, he probably doesn’t- every new person on the expanded welfare rolls, and every new gov’t employee, will vote Democratic to secure their goodies.

The Numbers

The broadest gauge of unemployment, which includes part-timers seeking full-time jobs, hit 14.8% last month.

The labor market has historically been a lagging indicator of activity, which means that even if the economy were to recover soon, the jobless level is likely to climb for many more months. With no immediate end in sight to the downturn — output in the current quarter seems on track to fall by 5% or more after a 6.2% decline in the fourth quarter of 2008 — the jobs picture is likely to get bleaker.

Jobless Rate Tops 8%, Highest in 26 Years – WSJ.com