Liberal, Narrative, Economy

Americans who describe themselves as conservative on economic issues outnumber those who describe themselves as liberal on economic issues by 46 percent to 20 percent, according to a Gallup poll released today.

Editorial, Liberal, Fascism, AntiAmerican, Academia

Nationalization isn’t as difficult as it sounds. We tend to forget that we did, in fact, nationalize General Motors in 2009; the government still owns a controlling share of its stock. We also essentially nationalized the American International Group, one of the largest insurance companies in the world, and the government still owns roughly 60 percent of its stock. Of course, it would probably take another financial meltdown to make banking nationalization politically tenable. But given how the sector has behaved since the last crisis, a repetition seems inevitable, and sooner rather than later. -Gar Alperovitz, New York Times Editorial July 22, 2012

Liberal, Government, Incompetence, Oops

In the town that launched the War on Poverty 48 years ago, the poor are getting poorer despite the government's help. And the rich are getting richer because of it. The top 5 percent of households in Washington, D.C., made more than $500,000 on average last year, while the bottom 20 percent earned less than $9,500 - a ratio of 54 to 1. That gap is up from 39 to 1 two decades ago. It's wider than in any of the 50 states and all but two major cities. This at a time when income inequality in the United States as a whole has risen to levels last seen in the years before the Great Depression.

Democrat, Liberal, Incompetence, Obama, Financial, Oops, Economy, Jobs

An Obama appointee and the CEO of Pacific Investment told a crowd at the National Press Club that Obama’s economic policies have fostered income inequality and that political squabbling is stalling economic recovery. Mohamed El-Erian, CEO of Pacific Investment and chairman of the White House Global Development Council, blamed the administration’s reaction to the Great Recession for increasing income inequality... El-Erian said the failure of the weak recovery is evident in the youth unemployment rate, which has bounced around from 40 to 25 percent among the most inexperienced workers, as well as the long-term unemployment rate.

Liberal, Tax, Incompetence, Financial, Brilliance, Narrative, Oops

France's Socialist government has admitted that the country cannot cope with any further tax rises and promised no more hikes just days ahead of the country's largest ever tax bill... “The government thought that by continually raising taxes, they could raise returns but they are now realising, rather belatedly, the error of their ways,” said Marc Touati, economist at ACDEFI consultancy. “Today in France, we are approaching 47 per cent of total tax pressure compared to GDP.

Democrat, Liberal, Obama, Narrative, Oops, Economy, Jobs

President Obama’s proposal to raise the minimum wage to $10.10 per hour would cost 500,000 jobs in 2016, according to a report released Tuesday by the nonpartisan Congressional Budget Office.

Democrat, Liberal, Incompetence, Obama, Oops, Economy

Under President Obama, the richest 10 percent were the only income group of Americans to see their median incomes rise, according to a survey released this week by the Federal Reserve. The Fed data covered the years 2010-2013, during which period Mr. Obama constantly campaigned against income inequality and won re-election by painting his Republican rival as a tool of Wall Street plutocrats.

Democrat, Liberal, Incompetence, Obama, Narrative, Oops, Economy

[Sept 2016]: The well-being of black Americans, which began to surge at the end of the Bush administration and reached a high in 2010, has plummeted ever since while white Republicans, Asians and Hispanics have thrived, according to a new Gallup index. The survey said that blacks who describe themselves as thriving has dropped from near 60 percent in 2010 to 53.2 percent, the lowest of the four racial categories tested.