Simply Staggering

The federal budget deficit in the month of February 2011 exceeds the deficit for all of 2007 by 40 percent. Simply staggering. Yet Senate Democrats refuse to cut more than a paltry $6 billion. They refuse because they seem bent on collapsing the American system – the economy, the government, and the people themselves. But…

4 Ways Government Can Help Create Shared Value

Last week I wrote about Creating Shared Value. In that post, I pointed to a Harvard Business Review article by Michael Porter and Mark Kramer. If you haven’t read both my post and the Michael Porter piece, please do so now.  I’ll wait. Now that you’re up to date, let me add the Tea Party…

Jay Nixon Putting Party Ahead of Missouri? *UPDATE*

Last week, the Illinois legislature passed a massive income tax increase on individuals and businesses.  Overall, it represents about a 67 percent income tax increase. In response, neighboring states of Wisconsin and Indiana have wisely mounted massive campaigns to suck businesses and people out of Illinois.  Even New Jersey’s fabulous governor, Chris Christie, plans to…

Ideas Have Consequences—Even Stupid Ones

When Barack Obama became president in January 2009, he began a campaign to weaken America. I’m not talking about military cuts; I’m speaking of America’s stature.  Barack Obama famously refused to acknowledge American Exceptionalism in 2009. He bowed to kings and princes, then denied doing so, then bowed again and again. His White House has…

3 Signs of Economic Disaster

Each day, more economists jump onto the Double-Dip bandwagon. Signs abound that the natural economic recovery that would normally follow a deep recession won’t happen. Instead, the economy is now saddled with so much debt, so many regulations, and such onerous new taxes that the Obama Administration tells us to be happy with 9.5 percent…

2/3 Think Worst Is Yet to Come for USA

The Wall Street Journal headline is grim: Grim Voter Mood Turns Grimmer Underpinning the gloom: Nearly two-thirds of Americans believe the economy has yet to hit bottom, a sharply higher percentage than the 53% who felt that way in January. Wow.  I think the barrage of terrible economic news this week has people realizing that…

Fed: Other Shoe About to Drop

The only two people in the world who believe the economy is healthy and vibrant are Barack Obama and Joe Biden.  Now, the Federal Reserve Board’s Open Market Committee (FOMC) is getting ready to announce that the economy is sicker than we thought. Although Fed policymakers still believe the basic trajectory of the economy remains…

Bi-Partisan Consensus: We’re Screwed

What if:  In January, a new Republican Congress is sworn in. First up on the agenda? A bi-partisan report stating that Congress must enact the most draconian tax increases and entitlement cuts in history or face total economic collapse. That’s the scenario developing. President Obama appointed a bi-partisan commission to make recommendations about the US…

Don’t Blink (you’ll miss the recovery)

The stock market reacted mildly to some devastating economic news today.  In fact, the stock market appears to be in denial about the state of America’s economy.  Existing home sales fell in May.  As of this morning, economists expected a six percent increase.  Economists expect new home sales to be worse than existing home sales.…

What Are We For?

A few weeks back, the Christian Science Monitor asked me to write an op-ed. The subject was, “If the Tea Party ran America, how would things change; and why do you think you’ll win?” The call was my opportunity to break from the easy, unassailable position that things are bad and getting worse. It meant…

8,000 Dow? *UPDATE*

So says Yale economist Nouriel Roubini in an interview today on CNBC. “There are some parts of the global economy that are now at the risk of a double-dip recession,” said Roubini, head of Roubini Global Economics. “From here on I see things getting worse.” Roubini’s comments came in response to a 376 point drop…