Major indices finish lower amid GE earnings disappointment >>> READ MORE

President Obama’s State of the Union Address 2012 – Full Transcript

Jan 24, 2012, 9:33 pm EDT
President Obama’s State of the Union Address 2012 – Full Transcript

The following is a full transcript of President Obama’s 2012 State of the Union address delivered Tuesday, January 24. This is an advance transcript provided by President Obama and the White House and may not reflect the exact text of the live speech.

Governor Mitch Daniels of Indiana offered the Republican rebuttal immediately afterwards. It is being included here, via the above link, in the interest of balance.

Here’s the 2012 State of the Union address from Obama, unabridged and unedited: Read 

Gingrich Continues to Ride South Carolina Wave in Florida

Jan 24, 2012, 1:21 pm EDT

The South Carolina primary is known for being brutal and influential. This year was no exception. According to polling data, Mitt Romney was 10 points ahead of Newt Gingrich just four days before the South Carolina primary, yet when the final votes were tallied, Romney lost to Gingrich by 12.5 points. A 22.5 point swing in just four days.

How did this happen and what does it mean for Florida and beyond?

First, there were two debates in the five days preceding the South Carolina primary. During those two contests, Gingrich was able to convince voters that he was the most electable and most conservative candidate. With the help of Rick Perry’s endorsement, he also assured enough evangelical voters that despite his myriad personal failings he was acceptable to them. Read 

No Surprises in Romney’s Tax Returns

Jan 24, 2012, 12:44 pm EDT

Former Massachusetts Governor Mitt Romney’s release of his 2010 tax return and details of what he plans to file this year were the public’s biggest letdown since Geraldo Rivera came up empty in his quest to find the treasure in Al Capone’s vault.

The Romney tax returns didn’t tell voters with a pulse anything they already didn’t know. First, the presumptive — at least for now — GOP nominee is wealthy. In 2010, he reported adjusted gross income of $21.7 million, not too shabby for someone whose full-time “job” for the past few years has been running for president. He earned about the same in 2011. He has set up a $100 million trust for his five sons, which represents prudent financial planning.

To be clear, Romney isn’t just a 1-percenter. He is a 0.5-percenter who enjoys a lifestyle that few Americans can imagine. The former financier has clearly benefited from the generosity of the tax code, as Martin Sullivan noted recently in Tax Analysts, a trade publication: Read 

Oops! 5 Facts the GOP Candidates Got Wrong in Florida

Jan 24, 2012, 10:59 am EDT
Oops! 5 Facts the GOP Candidates Got Wrong in Florida

The Florida primary season kicked off yesterday evening, with an NBC-sponsored debate among the four remaining GOP presidential candidates. As is typical for many debates, the truth got pushed, pulled, stretched, and outright ignored by the candidates. In particular, these five claims were either incorrect or misleading.

1. Romney: Navy currently smaller than any time since 1917

In terms of number of ships in the fleet, this is untrue. The most recent numbers put the U.S. Navy’s total of active ships at 285, compared to 342 in April of 1917, when the U.S. entered World War I. However, there were fewer ships in the Navy during fiscal years 2005-2008: 282, 281, 278, and 282 respectively. Further figures can be seen at the Naval History and Heritage Command’s active ship force levels web page. Read 

3 Biggest Lies the Government Is Telling You

Jan 24, 2012, 10:55 am EDT
3 Biggest Lies the Government Is Telling You

Government lies are legion. 

So many are its lies, that narrowing them down to three of the most important is a demanding task. But our current crisis has been chiefly enabled by monetary policy, fiscal policy and the global military empire.

So I have chosen to focus on lies about each: the Federal Reserve, the orchestrator of monetary policy; the U.S. budget, the accounting of government fiscal policy and just a little of the war lies of the empire. I am sharing just a smattering of this astonishing record of duplicity in three areas, for life is short, or at least far too short to recount all of the state’s lies about each. Read 

Is Media Ignoring Ties Between Money and Politics?

Jan 23, 2012, 3:25 pm EDT
Is Media Ignoring Ties Between Money and Politics?

The mainstream media is shining a spotlight on national politics right now. Just consider that there have been more than 20 debates for the GOP primary so far — many of them with big-name sponsors that include CNN, CNBC, Fox News, Bloomberg and The Washington Post.

But don’t kid yourself. The sad reality is that while there may be plenty of nominal coverage, that doesn’t mean the mainstream media is shedding a whole lot of light on anything.

Job creation, tax reform and help for American small businesses are complicated issues — but too often boiled down to soundbites on big networks. And perhaps more disturbing is that financial news outlets who know this stuff cold would prefer to sit on their hands or stick with day-to-day coverage of the markets instead. Read 

1 3 4 5 6 7 13