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 

GOP Attempt to Authorize Keystone XL Pipeline Fails

Mar 8, 2012, 6:21 pm EDT

A Republican attempt to push forward an amendment that would authorize construction of the entire Keystone XL Pipeline fell short in the Senate today.

The amendment, added on to a transportation bill, needed 60 votes to pass. It received 56 in support, 42 in opposition, with two Republicans abstaining from voting. The rest of the Republican Senators and 11 Democratic Senators supported the bill.

The vote comes a little over a week after TransCanada (NYSE:TRP) announced it would build a portion of the Keystone XL Pipeline anyway. The Keystone XL Pipeline became a controversial issue when President Barack Obama, citing environmental concerns and a deadline imposed on him by Congress, rejected plans for the pipeline in Jan. 2012. Obama contacted Democratic Senators urging them to oppose the amendment, and it looks like his efforts bore fruit. Read 

Cato Institute, Koch Brothers Fighting Over Think Tank

Mar 7, 2012, 6:26 pm EDT
Cato Institute, Koch Brothers Fighting Over Think Tank

The conservative billionaires who helped found and fund one of the most influential research centers in the United States are now at odds with their creation.

Charles Koch, who helped found the libertarian-leaning Cato Institute in 1974 along with current president Edward Crane, and his brother David Koch are suing the organization to gain control of it. Both Kochs serve as members of the “shareholder” board, and have given nearly $30 million to the group since its founding.

The Kochs say that the suit is necessary to protect their legal interests in the organization. If successful, they would receive a third seat on the “shareholder” board, which would give them the power to control the majority of appointees to the board of directors, which sets the institute’s policy. Read 

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