economics

Economics 101: A Primer for Tim Bishop

by Bill O'Connell on January 12, 2012

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Tim Bishop likes manufacturing. The manufacturing of campaign issues, that is. In his effort to manufacture a campaign issue around overseas outsourcing, he got a lifeline from the White House yesterday when President Obama held an “insourcing” forum yesterday to encourage companies to “bring jobs back to America.” An editorial in the Wall Street Journal titled, “Insourcing for Dummies” describes the effort.

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The Democrats are nothing if not persistent. After trying to hang this dismal economy on President Bush while the Obama administration repeats every mistake from the Great Depression to create their own version, Tim Bishop says let’s go all in!

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In his recent telephone town hall meeting, Tim Bishop expressed his support for the continued payroll tax holiday but making it clear that it would have no impact on the Social Security Trust Fund. Money for Social Security would continue to go into the trust fund from other sources. What other sources you might ask? I may have an answer for you.

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Tim Bishop’s Phone Center Folly

by Bill O'Connell on December 27, 2011

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Tim Bishop has submitted legislation to punish firms that use overseas call centers. He is desperate. He needs an issue that he hopes will sneak him past the electorate into office for another two years. Outsourcing worked for him last time, so he is trying to put lipstick on that pig and pass it off as bold, new thinking. What I am thinking is when is Tim Bishop ever going to represent the people who actually live in his district?

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Shovel Ready Jobs? Shove It!

by Bill O'Connell on November 11, 2011

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Photo by shannonpatrick17

First we were told we had to pass the stimulus bill because if we didn’t unemployment would rise to 9%. The good news was that there were hundreds of shovel ready project raring to go. Later we learned that “shovel ready was not as shovel ready as we expected.” $800 billion dollars of squandered stimulus dollars later, unemployment is at 9%. But what about a real shovel ready project that doesn’t need taxpayer dollars?

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Statically Stuck on Stupid

by Bill O'Connell on November 10, 2011

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photo by cliff1066

Just because Democrats are statically stuck on stupid, why do they think everyone else is? What I am referring to is static analysis of changes to the tax code. Democrats always want to have any potential changes statically scored. In other words if Democrats raise rates 10%, naturally, the government will get 10% more revenue. If on the other hand you cut tax rates 10%, a very bad thing, tax revenues will fall 10%. The problem is that they have been proved wrong every time. In other words, Democrats believe that if they raise tax rates you will be too stupid to change your behavior in response.

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Progressives and “Investing”

by Bill O'Connell on September 15, 2011

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Progressives are a funny group when it comes to investing, and I mean real investing, not the phony code word for spending. If they’re the ones controlling the money and especially if the money is not theirs, then investing is fine. If it will compete with one of their sacred social programs and you will directly benefit from it, then bar the door it’s an out of control casino.

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New York Republicans Party Like Its 1922

by Bill O'Connell on September 14, 2011

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Photo by boss tweed

Ah, 1922, the Yankees won their second American League pennant and finished up their final season at the Polo Grounds before moving across the river to their new stadium in the Bronx. In the summer, hyperinflation in Germany meant it took 493 marks to equal one dollar. Feature length film Nanook of the North  is released. In the fall the conversion rate in Germany is 1,000 marks to the dollar. Stalin comes to power in Russia, and Mussolini in Italy. By November it takes 3,000 marks to equal one U.S. dollar in Germany. Alexander Graham Bell dies. By year-end it takes 7,000 German marks to equal one U.S. dollar. It was also the last time the 9th Congressional District in New York was held by a Republican.

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Obama Brings the Campaign to a Joint Session of Congress

by Bill O'Connell on September 9, 2011

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Photo by Violentz

Most presidents view an address to a joint session of Congress for serious non-partisan purposes. Outside the annual State of the Union address they are rare. President Bush only did it once, in the aftermath of 9/11, and while jobs are very important to the country at this time, it is no place for a lecture (saying pass this bill seventeen times) from the most inexperienced president in our history.

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The Coming Union Crackup

by Bill O'Connell on August 30, 2011

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Photo by cursedthing

We saw the beginnings with the Battle of Wisconsin. The one place were unions were growing robustly was in the public sector, surpassing the private sector for the first time in 2009. But then 2010 happened.

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