Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

21.11.11

NASCAR: When Stupidity is Your Defense

One Lee Owens makes a point worth considering about why some idiotic NASCAR fans booed Michelle Obama and Jill Biden during a veterans-related appearance at the Ford 400 at Homestead-Miami Speedway: "It is not racial," Owens explains. "Michelle Obama is scorned by Nascar fans because her husband is a job-killer socialist."

Now, the question here isn't whether or not NASCAR fans are racist. Rather, it is whether NASCAR fans are idiots.

And as it seems hard to reconcile the idea of Obama as a socialist in any context remotely connected to fact, Ms. Owens, the trodabumsoutgrl, seems to be asserting that yes, NASCAR fans are idiots.

7.11.11

The Obvious Question

Who: Steve Benen
What: "The growing acceptance of the 'sabotage' question", Political Animal
When: November 7, 2011


At first glance, it is just one of those things. Everybody has a certain line they won't cross. It is a line of human decency. And it's not that they won't commit this or that atrocity but, rather, a point beyond which they cannot believe "normal"—a highly subjective word, especially in this context—people would tread. It is a point which other people's cynicism can encompass, but no, one says, not me: I cannot believe that other people should behave that way, or that respectable folk would let them get away with it.

But it's been a question in the back of political observers' minds since the midterm election, if not before.

The New York Times editorial board had a piece today on the importance of unemployment benefits, and made an observation in passing that stood out for me.

"Tragically," the editorial said, "the more entrenched the jobs shortage becomes, the more paralyzed Congress becomes, with Republicans committed to doing nothing in the hopes that the faltering economy will cost President Obama his job in 2012."

The point was made in passing, but it's nevertheless striking. As far as the editorial board of the nation's most important newspaper is concerned, it's simply accepted as fact that congressional Republicans want to hold back the economy, on purpose, to undermine the Obama presidency.

Benen's analysis of the question shows such attitudes are a minority, to be certain, but only barely. A recent Washington Post/ABC News poll put Obama up against Congressional Republicans, with the result that 50% sided with Obama.

This comes less than a week after a poll in Florida found that 49% of voters statewide believe congressional Republicans “are intentionally hindering efforts to boost the economy so that President Barack Obama will not be reelected.” The WaPo/ABC poll is, as best as I can tell, the first national poll to consider the same issue.

To be sure, the wording of this new poll isn’t ideal, and is far less direct than the poll conducted in Florida. But the takeaway is still pretty clear: half the country is inclined to believe GOP officials are killing efforts to boost the economy for purely political reasons.

Still, though, such a cynical gamble might work. Albeit with some minor exceptions, the American political system is a two-party arrangement.

A conservative associate recently pointed out to me that in 2010, the Republican margin was actually closer to fifteen percent, because the GOP one 14.77% more votes than Democrats. And it's true: the difference does equal 14.77% of the Democratic vote total. But what, really, does this half-witted fluffing of the margin really say? One would think the similarly-calculated 15.88% margin for President Obama, and the 20.66% congressional numbers (peaking at 25% in the Senate) would say even more in those terms. Yet what it has earned the nation is stonewall obstructionism from the GOP. Were those 14.77% more voters than Democrats hoping to duck out on the national debt? Were they hoping state houses would start tinkering with their zoning regulations to close specific medical facilities? Were they really voting for another round of the culture war as we see coming from the right?

What, really, is the likelihood of that 14.77% more voters than the Democrats won actually got what they were hoping for out of the deal?

Still, though, my associate's determination to convince me that all this obstructionism spells doom for Obama is not unfounded. There is a strong likelihood that it could work:

Though in theory, it should, this won’t necessarily give President Obama a boost. The degree of national cynicism is so intense, many Americans may simply assume Republicans are sabotaging the national economy, but take their frustrations out on the president anyway. As Greg noted, “The number who see Obama as a strong leader is now upside down (48-51), suggesting yet again that even if Americans understand that Republicans are deliberately blocking Obama’s policies, they may conclude that his failure to get around them just shows he’s weak or ineffectual.”

Voters’ understanding of the political process is severely limited, and many Americans likely fail to appreciate the role Congress must play in policymaking. There are no doubt plenty of voters thinking, “Sure, Republicans are sabotaging the economy, but why can’t Obama just go around them?” unaware of the fact that, on a grand scale, this isn’t an option.

Still, it is telling, at the very least, that the question of whether Republicans are deliberately stonewalling the economy in hopes that voters will punish Democrats should even be something we might have to take seriously.

30.7.11

This Seems Like Something That Shouldn't Be Surprising

The lede on this is priceless:

According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around.

Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends.

This symbolic feat—the world's most highly valued tech company surpassing the fiscal strength of the world's most powerful nation—is just the latest pinnacle for Apple, which has been on an unprecedented roll ....

Anyway, carry on. Nothing to see here. Go about your business.

14.2.11

A Fundamental Question: What, exactly, are we doing?

Who: Paul Krugman
What: "Eat the Future", The New York Times
When: February 14, 2011


Republican leaders like to claim that the midterms gave them a mandate for sharp cuts in government spending. Some of us believe that the elections were less about spending than they were about persistent high unemployment, but whatever. The key point to understand is that while many voters say that they want lower spending, press the issue a bit further and it turns out that they only want to cut spending on other people.

That's the lesson from a new survey by the Pew Research Center, in which Americans were asked whether they favored higher or lower spending in a variety of areas. It turns out that they want more, not less, spending on most things, including education and Medicare. They're evenly divided about spending on aid to the unemployed and—surprise—defense.

The only thing they clearly want to cut is foreign aid, which most Americans believe, wrongly, accounts for a large share of the federal budget.

Pew also asked people how they would like to see states close their budget deficits. Do they favor cuts in either education or health care, the main expenses states face? No. Do they favor tax increases? No. The only deficit-reduction measure with significant support was cuts in public-employee pensions—and even there the public was evenly divided.

The moral is clear. Republicans don't have a mandate to cut spending; they have a mandate to repeal the laws of arithmetic.

Strange times.