Occupy Movement Could Go Broke in 3 Weeks’ Time

Mar 13, 2012, 5:36 pm EDT

Having faced police crackdowns, forced evictions of movement-occupied spaces, and attempts by politicians and organizations both sympathetic and antagonistic to co-opt its name and message, the Occupy movement faces a new challenge.

It may be running out of money.

Even a movement as staunchly anti-capitalist as Occupy has to pay the bills — or bail money, as it sometimes turns out. Reports indicate that, save for a $90,000 fund set aside for bail, the closest thing to a organizing arm for the New York City Occupy movement has under $45,000 left. At their current spending rate, that money will be gone in three weeks. Read 

Romney Will Not Use Medicare

Mar 12, 2012, 5:49 pm EDT
Romney Will Not Use Medicare

Today, former Massachusetts governor and Republican presidential candidate Mitt Romney turns 65. Unlike many American citizens who hit that milestone birthday, though, Romney will not be joining the Medicare program.

A source within Romney’s campaign told CNN that Romney would be forgoing Medicare in favor of continuing his private health insurance coverage.

What makes Romney’s decision interesting is his own plans for Medicare, should he be elected president. He has proposed that the eligibility age for Medicare be raised and that seniors be given the option to enroll in a private alternative to Medicare. These changes would take effect for retirees in 2022. Read 

Obama Ratings Drop as Gas Prices Soar

Mar 12, 2012, 5:32 pm EDT
Obama Ratings Drop as Gas Prices Soar

Even as the U.S. economy continues to add jobs at a healthy clip — 227,000 in February — Americans still have a dim view of Obama when it comes to the economy. Why? Two words: gas prices.

A Washington Post-ABC News survey released today found that a majority of Americans — 59% — disapproved of the president’s handling of the economy. Fifty percent of Americans strongly disapproved.

Sixty-five percent of poll respondents found Obama’s handling of gas prices to be unsatisfactory. This included 52% who disapproved strongly, with only 14% strongly approving of his handling of gas prices. Read 

I Was the Last Person to Talk With Jude Wanniski

Mar 10, 2012, 5:27 pm EDT

I’ve never told the story before, but I was probably the very last person to talk with Jude Wanniski on the day he died.

Jude Wanniski’s impact on America’s political-economic debate could not be missed. While serving as associate editor of the Wall Street Journal in the 1970s, he coined the term “supply side economics.”  He was an advisor to Ronald Reagan from 1978 to 1981, and was instrumental to the design of the Reagan tax cuts.  Jude was the author of  “The Way the World Works,” which has been described as one of the most influential books of the 20th century.

In my new book, RED AND BLUE AND BROKE ALL OVER:  Restoring America’s Free Economy, I cite Jude’s important discovery of the role the legislative advance of the Smoot-Hawley trade tariff played in the 1929 stock market crash and the Depression. Read 

Lt. Gov. Resigns After Spending Campaign Cash on Tech Toys

Mar 9, 2012, 5:22 pm EDT
Lt. Gov. Resigns After Spending Campaign Cash on Tech Toys

When it comes to scandals, misusing funds is nothing new unfortunately. One South Carolina politician, however, found a new use for his ill-gotten gains: buying the latest technology.

South Carolina Lt. Gov. Ken Ard announced his resignation today, in the wake of a criminal investigation into how he spent campaign funds and after an ethics committee fined him $72,000 for how he spent those funds.

According to reports, Ard improperly used campaign money to buy a Sony (NYSE:SNE) PlayStation 3, two of Apple‘s (NASDAQ:AAPL) iPads, a flat-screen TV, and to pay for wife’s cell phone bill, among other things. He allegedly spent $3,000 at Best Buy (NYSE:BBY) on the Playstation, iPads, and TV, and over $12,000 overall in improper purchases. Read 

Don’t Blame “Speculators” for Expensive Gas – Blame Washington

Mar 9, 2012, 11:00 am EDT
Don’t Blame “Speculators” for Expensive Gas – Blame Washington

Oil. It’s the world’s most important, actively traded commodity. It is absolutely indispensable to modern civilization. Everything economic is conditioned by oil.

But the governing classes display a degree of imbecility about oil that is simply stupefying.

They have done practically everything in their power to drive the price of oil sky high, successfully sending prices at the pump near $4 per gallon and emptying your wallet. Read 

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