Truly amazing!!! The ineptness and failures of this administration are beyond belief.
The Department of Energy is standing by a $529 million loan guarantee to a company building an electric car line in Finland.
A department official, in a lengthy response posted on a government blog Thursday night, confirmed that the company Fisker is assembling its Karma electric car at its “overseas facility.”
Okay, I called this a couple of days ago when I posted this. I think people thought I was kidding. I wasn’t. I truly believe that it is quite possible that Hillary Clinton could easily challenge Obama in 2012. I believe those who supported her then, would support her now. Plus, many who supported Obama in 2008 would seriously consider giving her their support today.
Now ABC News reports this:
Dick Cheney to Hillary Clinton: Run!
LOS ANGELES — Hillary Clinton for president?
By Michael Falcone
“So far she hasn’t said she would, but I think it’s not a bad idea,” former Vice President Dick Cheney told ABC’s Jonathan Karl in an interview on Wednesday to promote his new book “In My Time.”
Cheney declined to say whether he thought the current Secretary of State would have been a better president than Barack Obama, but called her a “pretty formidable individual.”
“I think she’s probably the most competent person they’ve got in their– in their cabinet. And– frankly, I thought she was gonna win the nomination last time around,” Cheney said. “Maybe if– the Obama record is bad enough– and these days it’s not very good, given the shape of the economy maybe there will be enough ferment– in the Democratic Party so that there will be a primary on their side.”
read more at ABC News
Answer this question as quickly as you can — don’t think about it: If Fester raises the price of his lemonade, will you buy more of it, or less? Yeah, that’s what I thought.
Incredibly, Professor Alan Krueger thinks just the opposite, at least when it comes to hiring labor. Professor who, you ask? You know, President Øbama’s proposed chairman of the Council of Economic Advisors — the administration’s chief economist. Yeah, that guy! But here’s the problem, see. As Spengler points out, Krueger hasn’t the foggiest idea how jobs are actually created:
Back in 1994, after New Jersey raised its minimum wage to $5.05 an hour from $4.25, Krueger (with economist David Card) published a paper claiming that the higher cost of labor led to more rather than less hiring at New Jersey fast food restaurants. Demand curves, as Perry observes, slope downward on this planet (if something costs more, people buy less of it, including labor). But on Planet Krueger, demand curves slope upward, by magic.
Card and Krueger proudly announced the repeal of the most fundamental law of economics: “Our empirical findings challenge the prediction that a rise in the minimum [wage] reduces employment. Relative to stores in Pennsylvania, fast food restaurants increased employment by 13 percent.” Except they didn’t. Their data, gathered by telephone survey, turned out to be “so bad that no credible conclusions can be drawn,” another study concluded. Other economists used actual payroll data instead of a phone survey and found just the opposite: the state-mandated pay hike reduced employment.
Read the whole article here.
I mean, it’s common sense, right? Not to the good Professor K. In his world, every day is opposite day: up is down, hot is cold, and higher labor costs mean more jobs. Yet this appears to be lost on President Øbama. According to him, Krueger will bring “a wealth of knowledge to the challenge of creating jobs and promoting economic growth.”
It’s almost like he doesn’t know what he’s doing.
long and illustrious brief and humorous career, White House Press Secretary Jay Carney has said exactly one thing that makes sense: “The White House doesn’t create jobs.” Of course, that was already painfully freaking obvious to non-comatose Americans. But whatever.
Anyways … Fester was puzzled (and a little sad) when President Obama tossed Carney’s semi-official pronouncement aside and promised yet another speech about how the White House was going to unfurl yet another plan to … create jobs.
Are we saved at last? Um, no. Over at Forbes, Merrill Matthews casts serious doubt on the President’s
much anticipated speech by recounting the White House’s previous speeches and failed promises:
And even as the president claims he is now laser-focused on job creation, he wants the public to forget all of his previous taxpayer-funded efforts to create mostly those “green jobs” of the future, many of which have been abject failures.
Like the $20 million federal grant given to Seattle to weatherize houses. The promise? To create “2,000 living-wage jobs in Seattle and retrofitting 2,000 homes in poorer neighborhoods,” according to the SeattlePI. The reality a year later, “only three homes had been retrofitted and just 14 new jobs have emerged from the program.”
And so on. (Read the entire article here.)
Fester is starting to think that George Clooney really is the mimbo we always thought he was, and that Jay Carney is actually the smartest guy in the White House. He and the President should really talk more.]]>