Go read this interview with the President of Iceland, Ólafur Ragnar Grímsson. As you may recall, their economy cratered a few years ago, brought on by the collapse of their banks (sound familiar?). But instead of bailing out their financial institutions, they let them go broke. Then the country stood up to demands from world […]
© Adam Zyglis I’m a huge fan of roadrunner cartoons, and love that moment when Wile E. Coyote realizes that he is not standing on anything and plummets back to earth. Isn’t that exactly the situation the GOP is facing now? Everyone is talking about the fiscal cliff that is coming up. But they don’t […]
Republicans are claiming that the reason why they were defeated in the election was because Obama and the Democrats gave out “extraordinary financial gifts” like free healthcare and green cards to Blacks, Hispanics, young people, and other members of their base and then mounted an aggressive turn-out-the-vote effort to get them to the polls. You […]
Well, either that or blackmail. Remember when gangsters would extort money from business owners in exchange for “protection”? I’m not sure that is so much different from what Mitt Romney gave today as his self-described “closing argument” as to why he should be elected president: He is saying that if you don’t elect me, then […]
Some people should know better than to appear on the Colbert Report: Part two of the interview is almost as painful — for Mitch Daniels at least.
© Matt Davies Less than two days after Romney complained that unemployment hadn’t dropped below 8% during Obama’s administration, the unemployment rate fell from 8.1% to 7.8%. So when Romney was saying that, unemployment was already below 8%. So of course, the Republicans respond by accusing the president of cooking the books, calling the unemployment […]
The National Memo did the math, so that you don’t have to (and because Romney won’t). Last night, Mitt Romney promised to eliminate our $1.3 trillion annual deficit without raising any taxes. How will he do this? First, reduce deductions for the wealthy. Well, that’s only $165 billion if you eliminate all deductions for the […]
Matt Taibbi has a brilliant article in Rolling Stone “Greed and Debt: The True Story of Mitt Romney and Bain Capital” that goes into considerable detail about how Romney’s company, Bain Capital, actually made money. Lots of money. The Democrats have attacked Romney and Bain Capital, saying that Bain shipped jobs overseas and made huge […]
I love a good rant, especially one backed up by cold, hard facts and solid arguments. And Kurt Eichenwald of Vanity Fair has blogged one of the best rants I’ve ever seen. It is made all that much more powerful by the fact that Eichenwald is not a blatant partisan, and is actually concerned that […]
The Daily Show looks at what it would really mean to run the US government like a business. Good thing Mitt Romney likes to fire people!
Mitt Romney declared in his acceptance speech “And unlike the president, I have a plan to create 12 million new jobs.” Sounds great! Especially from someone who claims that government doesn’t create jobs. And hasn’t actually, you know, told us what he would do. So how can Romney claim he will do it? Easy! Moody’s […]
[LOLGOP has a great rant about Republicans and budget deficits. Enjoy! –iron] The Big Lie of the Day: Republicans Balance Federal Budgets The Lie: Republicans have a plan to balance the federal budget and care deeply about fiscal responsibility. The Truth: The last Republican president who ever balanced the budget was Dwight Eisenhower. Between 1998 […]
Under the tax plan promoted by Paul Ryan — Mitt Romney’s Vice Presidential running mate — Romney would pay almost nothing in federal taxes. How do we know this? Because Romney himself told us! In Ryan’s plan, he wants to eliminate income taxes on capital gains, interest, and dividends entirely. That means that the vast […]
Mitt Romney finally released his tax plan. To nobody’s surprise, it consists largely of cutting taxes by cutting marginal tax rates by 20% across the board. But Romney also promises to reduce the deficit. In order to simultaneously cut taxes and reduce the deficit, Romney is going to have to cut spending. A lot of […]
© Ruben Bolling Believe it or not, this really is pretty much how recessions work. And how anyone thinks that austerity will help jumpstart an economy is beyond me.
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