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
Mar 12, 2012, 5:49 pm EDT
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
Mar 12, 2012, 5:32 pm EDT
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
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
Mar 9, 2012, 11:00 am EDT
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