On Friday, economists expect the Labor Department to report the economy added 181,000 jobs in January, up from the disappointing 74,000 scored in December. That’s about half the pace needed to bring unemployment down to acceptable levels and motivate the
President Obama has put his political fortunes above the least among us by badgering Republicans in Congress to raise the minimum wage to $10.10 an hour. In 1938, Congress first established the federal minimum and has periodically raised it to
Promising to address inequality and strengthen the middle class, President Obama’s State of the Union combined sound and foolish proposals, laced with good old fashioned demagoguery. Despite nearly five years of economic recovery, the fortunes of working Americans have decidedly
President Obama, dogged by the bungled rollout of the Affordable Care Act and a slow economic recovery, is declaring war on inequality. An age-old problem made worse by his policies, he offers more opiates–like raising the minimum wage–that fail to
Inequality is President Obama’s highest priority, but his solutions are wholly naive. Disparities between rich and poor are as ancient as civilization, but in modern democracies, this condition is exacerbated by globalization and technologies that drive it. Successive advances in
The World Economic Forum has identified income equality as the most likely threat to the global economy. Here are some notes on the issue, and I would welcome interviews on the subject. Income inequality is a terribly complex issue, and for
Inequality is replacing the American dream, because the U.S. economy–thanks to Washington’s mismanagement–is underperforming. America still produces one fifth of the world’s goods and services, but accounts for a much smaller share of global growth. Many U.S. products are no
The economy created only 74,000 jobs in December, well below the 2013 average of 188,000. The Labor Department report indicates stronger growth for the coming year predicted by many economists may not materialize. Growth slipped to 1.9 percent last year, thanks
Reinstating emergency unemployment benefits, as President Obama urges, would slow growth and impose unconscionable burdens on the working poor. State governments provide a basic benefit, averaging $300 per week for 26 weeks. During the Great Recession, Washington financed additional benefits
On Tuesday, the Commerce Department is expected to report the deficit on international trade in goods and services was $40.0 billion in November, up from $24.9 billion when the economic recovery began. The Obama Administration’s ill-conceived energy policies and appeasement
The U.S. economy is gaining strength, but the ObamaCare train wreck, festering problems in far away China, and uncertain leadership at the Federal Reserve could derail the recovery. No small courage will be required for good sense to finally restore
Thanks to the Affordable Care Act, President Obama has lost credibility as a leader and effective executive with most Americans. A good CEO must work within the strengths and limitations of his organization–then execute effectively to deliver on the promises
D-Day arrived for ObamaCare Saturday and began with an 11 hour shutdown of Healthcare.gov–the problem plagued website intended to provide easy access to affordable insurance for millions of Americans. The contraption is functioning better but is still terribly inadequate. It
The Labor Department reported the economy created 204,000 jobs in October after adding 163,000 jobs the prior month. This is much better than was expected but still well below what is needed to bring unemployment down to acceptable levels.
Republicans should stop cheering for ObamaCare to fail. It may be dreadful, but going back to what we had before is not possible. The real political hay is to be made improving the law to lower prices and premiums–details Democrats
Outrage about HealthCare.gov and millions losing health plans should scare the wits out of liberals. With enough money, the morass can be fixed, but it lay bear the limits of tax and spend to buy voter allegiance. The liberal formula is quite
Abroad and at home, President Obama with unprincipled pragmatism is undermining America’s most cherished values, economy, and liberties. When the Egyptian military ousted a duly elected government, Obama did not cut off aid, as required by U.S. law. Instead, he
One need only compare the sense of dispatch at Federal Express with time endured to send a package via the U.S. Postal Service to recognize the federal government doesn’t do things quite as well as the private sector. It doesn’t
The Labor Department reported the economy created 148,000 jobs in September after adding 193,000 the prior month–forecasters had expected a much better showing. Unemployment fell to 7.2 percent, largely because 91,000 more adults chose not to participate in the labor
On Tuesday, the Labor Department is expected to report the economy added 185,000 jobs in September and unemployment was steady at 7.3 percent. Part-time positions dominate the jobs picture. Since January, 848,000 additional Americans report working part-time, while only 35,000
J.P. Morgan’s record $13 billion tentative settlement with the Justice Department over allegedly misrepresented residential mortgage-backed securities does not dispel criminal charges against bank officials or the bank as an institution. J.P. Morgan could be dismembered if several senior officers
To end the government shutdown and raise the debt ceiling without accepting any meaningful GOP conditions, President Obama resorted to falsehoods, wounded American democracy, and damaged U.S. global leadership. The president accused the House GOP majority of refusing to pay
If congressional negotiators fail to raise the debt ceiling and reopen the government, voters will blame House Republicans, but it is the president and fellow Democrats that are behaving like teenagers by wanting to spend irresponsibly. Studies by the non-partisan
The federal government will default on its debt only if President Obama wills it. House Republicans, by refusing to raise the debt ceiling until they obtain budget reforms, may be the country’s last hope to avoid a financial ruin. Each
The government shutdown is proving less draconian than presidential warnings, but failing to raise the debt ceiling and default would be another matter. So many government activities have been deemed essential by legislation or presidential order that only 15 percent
President Obama, as much as House Republicans, shut down the government. He is not willing to compromise on just about any issue, leaving the GOP with no other options. In 2008, Obama won 53 percent of the popular vote and
Republicans must live with Obamacare. They have few prospects for electing 60 senators needed to repeal the law, and unless they work to make it more palatable–something they have few ideas to accomplish–the nation is headed for socialized medicine. Obamacare
Easy money is a painkiller, not a cure. The U.S. economy has unaddressed woes that neither President Obama and his liberal friends nor Speaker Boehner and his Tea Party rebels are willing to admit or address. The new normal–growth at
Income inequality has been growing since the 1970s, but President Obama’s economic policies are making it worse and at a faster pace than Presidents Bush or Clinton. Globalization is driving the sinking fortunes of many ordinary Americans. Prior to World
COLLEGE PARK, Md., Sept. 10 (UPI) — Russia’s ploy to defuse the Syrian crisis–persuading Syrian President Bashar al-Assad to turn over his chemical weapons to avert a U.S. attack–will likely end in an embarrassment for U.S. President Barack Obama and
The Labor Department reported the economy created 169,000 jobs in August after adding 104,000 in July. Unemployment fell to 7.3 percent, largely because 516,000 more adults are no longer employed or looking for work. Businesses continued the shift toward contingent
Friday, forecasters expect the Labor Department to report the economy added 175,000 jobs in August and the unemployment rate remained steady at 7.4 percent. Although in line with the pace of recent months, jobs gains have been heavily weighted toward
President Obama’s vacillation on Syria–first delaying military action and then booting the decision to Congress–poses grave threats to U.S. prosperity. Imminent military action, especially in the Middle East, instigates fears of shortages and panic in oil markets. Two years ago,
GDP growth was revised up for the second quarter to 2.5 from 1.7 percent, because the trade deficit was much smaller than originally estimated and investments in inventory were revised upward. The trade gap remains a substantial drag on economy
President Obama wants private banks to use depositor and investor funds to write 30-year fixed rate mortgages at affordable rates. He won’t admit those goals and others imposed by Congress require the federal government to guarantee mortgages and banks against
On Tuesday, the Commerce Department is expected to report the June deficit on international trade in goods and services was $43 billion. Overall, the deficit is up from $25 billion when the economic recovery began in mid-2009 and poses the
The Labor Department reported the economy added 162,000 jobs in July, after adding 188,000 in June. Unemployment fell to 7.4 percent, largely because 240,000 adults left the labor force. Businesses continued the shift toward contingent workers. In July, 103,000 more
Friday, forecasters expect the Labor Department will report the economy added 175,000 jobs in July, down from 195,000 in June, and the unemployment rate will slip a notch to 7.5 percent. The pace of job creation has been stronger in
Republicans are from Venus and President Obama is from Mars. Nothing better demonstrates this than their stances on taxes, spending, and jobs. Obama wants to reform corporate taxes–shut loopholes, impose a mandatory levy on profits earned abroad, and lower rates
Today, the Conference Board releases critical consumer confidence data for July. Economists expect it to hold near steady at 81-the June reading was 81.4. Wall Street follows consumer confidence closely because it drives stock prices, but the auto sector and
