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Right Turn
Posted at 07:45 AM ET, 07/18/2012

Morning Bits

Hard to argue his “portrayal” is wrong. “Mitt Romney seized Tuesday on recent remarks by President Obama to amp up his portrayal of an anti-business White House out of touch with the economy.”

Hard to see how the Bain attacks have made any difference. “[Public Policy Polling] continues to find Barack Obama as the favorite in Iowa, although the race in the state is a good deal closer than it was in both 2008 and on our last poll in early May. Obama leads by 5 points, 48-43, after previously holding a 10 point advantage at 51-41. Iowa voters have flipped from narrow approval of Obama (49/46) to narrow disapproval of him (47/49) over the last couple months.”

Hard to let these cuts goes through in an election year. “The congressional Super Committee is long gone, but the consequences of its failure will be felt by millions of Americans unless Congress addresses mandatory cuts that take effect Jan. 2, 2013. A new study released today by economist Stephen S. Fuller of George Mason University and the Aerospace Industries Association estimates that 2.14 million U.S. jobs will disappear as a result of the Budget Control Act’s sequestration mandate. That would push the nation’s unemployment rate above 9 percent.”

Hard to imagine Obama won’t walk this back. “Business groups criticize Obama over remarks about government’s role in success.” It really was mind-boggling stupid thought for him to express in public.

Hard to tell if Obama really wants to keep at this. “President Obama has accused Mitt Romney of raking in profits from investing in companies that ship American jobs overseas, but according to his most recent financial disclosure, he and First Lady Michelle Obama have hundreds of thousands of dollars in a mutual fund that has large holdings in corporations that outsource jobs.” Oops.

Hard to control debt when you keep spending. “President Obama has repeatedly said he wants to let the Bush-era tax cuts for couples earning more than $250,000 a year ($200,000 for individuals) expire at the end of the year. Aside from the fairness issue of the proposal, he often makes the case that the revenue generated by the tax hike would help put the country on a more solid financial ground. But as I have said in the past, even in the best-case scenario, where the president manages to raise as much money as he hopes from the expiration of these taxes, this focus on tax revenue misses the point: . . . The bottom line is that even if the president manages to collect an additional $967 billion by letting some of the Bush-era tax cuts expire, which I doubt it will, Washington still has a spending problem.” Check out the chart.

Hard to disagree with their outlook. “Gallup’s U.S. Economic Confidence Index averaged -27 for the week ending July 15, down four points from -23 each of the prior two weeks. This extends a gradual decline in confidence that has been underway since late May, when the index was at a four-year best of -16. The index was nearly this low a month ago — at -26 in mid-June — and now stands at the lowest weekly average since late January of this year.”

Hard to accept for some, but maybe voters care more about their jobs than when Romney left his. “The WMUR Granite State Poll shows that 49 percent of likely New Hampshire voters said they will vote for Obama, compared to 45 percent who plan to vote for Romney. In April, Obama held a 9-point lead over Romney.”

By  |  07:45 AM ET, 07/18/2012

Categories:  Morning Bits

 
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