White House Chief of Staff Rahm Emanuel characterized the relationship between the administration and the business community as “misunderstood”. In an interview with WSJ Executive Washington Editor Jerry Seib, Mr. Emanuel also defended President Obama’s job creation strategy in the face of lagging job growth.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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August 2nd, 2010 at 3:12 pm
The campaign has begun…
The GOP is suffering much more than the Democrats and Obama by holding up middle tax rate decisions. with their demands that people making over 250K are spared the automatic Bush tax cut revocation. It’s the perfect example of something everyone agrees upon, but the ‘Party of No’ isn’t letting happen.
But more importantly, keeping the rates low for most Americans (who pay higher effective rates when you include payroll taxes than ‘the rich’) is the stimulus Obama wants.
As a bonus Obama will also put an end to the oldest GOP talking point, “when the Democrats talk about raising taxes on ‘the rich,’ watch YOUR wallet…” and let the tax cuts expire per Obama’s promised formula and keep the Bush rates for the under 250K crowd.
We’ve had a generation of now net gains by the middle class…
http://www.ft.com/cms/s/2/1a8a5cb2-9ab2-11df-87e6-00144feab49a.html
…while rich wealth has increased three fold.
The data is irrefutable.