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This week, President Obama rolled out a plan to invest $50 billion in infrastructure as a way of boosting job creation, which will be (at least partially) paid for by cutting subsidies to oil and gas companies. Republicans immediately criticized the proposal, with even Sen. Jim Inhofe (R-OK), who typically jumps at the chance to approve infrastructure spending, saying he wouldn’t vote for it. But many Republicans, at the same time that they are [...] Big Gov’t: After foisting its 2,700-page health law on the public, the White House now plans to enforce its detested mandate by siccing the IRS on unwilling citizens. All that stands in the way is “the consent of the governed.” Back in 2009, when ObamaCare was being debated in Congress, then-House Minority Leader John Boehner warned that the takeover of the health care system could only lead to armies of enforcers [...] Let’s cut the baloney about jobs and rich people’s taxes. If corporate profits automatically turned into jobs for the little folk, the unemployment rate would be plummeting. It happens that company earnings now exceed their lofty peaks of the housing boom. And big-business balance sheets are sloshing in cash. Corporate America’s decision to stick with its current workforce is not for a lack of dough. Companies don’t create jobs because they have [...] |
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Paul Krugman Tells Playboy The Exact Moment When Obama Started Blowing It
by Joe Weisenthal
There’s a long interview with Paul Krugman in the new Playboy, and it’s excellent.
We tend to write a lot about his economic commentary here, but he probably doesn’t get enough credit for his commentary on politics, and his assessment of how things will play out.
Go back and read this column, from March 2009, and you’ll see that he basically called things correctly, that the stimulus would be too small, and that [...]