Common Sense Politics
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Common Sense Politics
Whether you are from the left or right common sense has to prevail for our government to get back to representing the people
Curated by Richard Meyer
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Wells Fargo's John Silvia Ends The Unemployment Rate Debate With This Report

Wells Fargo's John Silvia Ends The Unemployment Rate Debate With This Report | Common Sense Politics | Scoop.it
Wells Fargo John Silvia on the unemployment rate debate.  The most disappointing thing about the Jack Welch affair is his continuing belligerent stance. He introduced the “question mark” addition in an interview with Anderson Cooper of CNN. I saw it and watched Welch dig himself into an even deeper hole. He repeated it in a CNN interview with Ali Velshi the next day.

Read more: http://www.businessinsider.com/john-silvia-the-great-unemployment-rate-debate-2012-10#ixzz29JDt6zHd

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9 Things That Show Mitt Romney Is Morally Bankrupt

9 Things That Show Mitt Romney Is Morally Bankrupt | Common Sense Politics | Scoop.it
It’s not that hard to be good to your family and friends. If true morality is evidenced by how one treats strangers, Romney’s reputation as a moral actor should be under water.
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Jobs Report: Cooked or Correct?

Jobs Report: Cooked or Correct? | Common Sense Politics | Scoop.it
The latest government employment report, a month from Election Day, created quite a stir.

 

So Point No. 1: the idea that a handful of career bureaucrats, their jobs secure no matter who is in the White House, would manipulate the unemployment data to help President Obama, is ludicrous. Jack Welch knows it, too; when I called him Friday afternoon, he quickly backpedaled. “I’m not accusing anybody of anything,” he protested. But he went on to add that everything he’s seen suggests that the economy remains in the doldrums, and it just didn’t seem possible that the unemployment rate could have dropped so drastically, and so quickly.

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The Jobs Report and the Right's Love of Conspiracy Theories

Conservatives are dumbfounded by Bureau of Labor Statistics’ household survey of unemployment, which found 873,000 more Americans working in September and the unemployment rate falling by 0.3 points. Some are being driven to derangement: If the...
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Here's Why Unemployment Should Really Be 6.8 Percent, Not 7.8 Percent

Here's Why Unemployment Should Really Be 6.8 Percent, Not 7.8 Percent | Common Sense Politics | Scoop.it
The latest jobs numbers could have been much worse -- but they also could have been a lot better. Try 6.8 percent unemployment instead of 7.8 percent.
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The First Debate: Mitt Romney's Five Biggest Lies | Politics News | Rolling Stone

The First Debate: Mitt Romney's Five Biggest Lies | Politics News | Rolling Stone | Common Sense Politics | Scoop.it
The truth behind that 5 trillion tax cut, pre-existing conditions and more...
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Michael Moore Went On A 24-Tweet Rant Hammering Obama's Debate Performance

Michael Moore Went On A 24-Tweet Rant Hammering Obama's Debate Performance | Common Sense Politics | Scoop.it
"This is what happens when u pick John Kerry as your debate coach..."...
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WATCH: Ryan Claims '30 Percent Want Their Welfare State'

WATCH: Ryan Claims '30 Percent Want Their Welfare State' | Common Sense Politics | Scoop.it
WASHINGTON -- Mitt Romney and his running mate, Paul Ryan, share a similarly dim view of a very large portion of Americans, according to previously unreported remarks by Ryan.
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Families Will Pay Nearly DOUBLE For Health Insurance Under Romney

Families Will Pay Nearly DOUBLE For Health Insurance Under Romney | Common Sense Politics | Scoop.it
With the news this week that there’s been net job growth during President Obama’s term, Mitt Romney lost one of his favorite critiques of the presidential incumbent. Not to worry though, there’s always Obamacare to criticize, right?
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John Boehner: GOP Won't Agree To Raise Taxes On Wealthy, Even If Obama Wins

John Boehner: GOP Won't Agree To Raise Taxes On Wealthy, Even If Obama Wins | Common Sense Politics | Scoop.it
WASHINGTON -- Elections often come with a mandate -- or at least some sort of consequences for the defeated party, which not only has its candidates rejected by the public, but its ideas as well.
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It Takes One to Know One

It Takes One to Know One | Common Sense Politics | Scoop.it
Extremism in opinions is one thing. But the Republican Party is becoming extremist in its facts.
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R.I.P. Romney Campaign

R.I.P. Romney Campaign | Common Sense Politics | Scoop.it
The reason the video kills what remains of Romney's bid for the White House is because of what it tells us about his understanding of the basic facts of the American situation: He thinks there is nothing fundamentally wrong with the economy.
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Mitt Romney, Secretly Taped, Tells His Truths At Fundraiser

Mitt Romney, Secretly Taped, Tells His Truths At Fundraiser | Common Sense Politics | Scoop.it
The overwhelming majority of voters who back President Barack Obama do so because they are "dependent on government" and "believe that they are entitled to health care, to food, to housing," Mitt Romney told a closed-door gathering of about 30 major donors earlier this year, according to video of the event that has surfaced on the Internet.
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JPMorgan Chase Records Record Profits, But Homeowners Are Unimpressed

JPMorgan Chase Records Record Profits, But Homeowners Are Unimpressed | Common Sense Politics | Scoop.it
With a big assist from its mortgage division, JPMorgan Chase reported a record quarterly profit of $5.3 billion on Friday, another encouraging sign that the housing market is finally recovering from a collapse that has cost nearly 4 million...
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Truth About Jobs

Truth About Jobs | Common Sense Politics | Scoop.it

Leading the charge of what were quickly dubbed the “B.L.S. truthers” was none other than Jack Welch, the former chairman of General Electric, who posted an assertion on Twitter that the books had been cooked to help President Obama’s re-election campaign. His claim was quickly picked up by right-wing pundits and media personalities.

It was nonsense, of course. Job numbers are prepared by professional civil servants, at an agency that currently has no political appointees. But then maybe Mr. Welch — under whose leadership G.E. reported remarkably smooth earnings growth, with none of the short-term fluctuations you might have expected (fluctuations that reappeared under his successor) — doesn’t know how hard it would be to cook the jobs data.

Furthermore, the methods the bureau uses are public — and anyone familiar with the data understands that they are “noisy,” that especially good (or bad) months will be reported now and then as a simple consequence of statistical randomness. And that in turn means that you shouldn’t put much weight on any one month’s report.

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Chris Matthews To Jack Welch: 'Do You Want To Take That Back?'

Chris Matthews To Jack Welch: 'Do You Want To Take That Back?' | Common Sense Politics | Scoop.it
Chris Matthews laid into former GE CEO Jack Welch on Friday's "Hardball" for baselessly suggesting that the latest unemployment figures had been manipulated by the Obama campaign.
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ECONOMIST: It's 'Bizarre, Outrageous, And Despicable' To Suggest That The Job Numbers Were Manipulated

ECONOMIST: It's 'Bizarre, Outrageous, And Despicable' To Suggest That The Job Numbers Were Manipulated | Common Sense Politics | Scoop.it
So much for that theory....
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No, the President Won’t Be Rescued by the Jobs Report « Commentary Magazine

No, the President Won’t Be Rescued by the Jobs Report « Commentary Magazine | Common Sense Politics | Scoop.it

The confusing but mildly promising jobs report today—stats say an anemic 114,000 jobs were created, but the “household survey” says 873,000 more people found work this month than last—has inspired a back-and-forth frenzy since its announcement at 8:30 this morning. The political question it raises is how much good it will do Barack Obama, reeling from his awful debate performance on Wednesday night.

 

Two answers suggest themselves. First, it can’t hurt, but it probably won’t help; a really bad jobs report in September did little harm, so there’s scant reason to believe an OK one will turn around his suddenly declining fortunes. Second, the political problem for the president is not the tragedy of life for the unemployed, though it is the most painful fact about the lingering economic malaise. The political problem is the condition of the employed.

 

It is the reversal of fortunes and the reversal of expectations that is primarily responsible for the 3/5ths to 2/3rds of Americans who say the country is on the wrong track. Many of those who are well-employed get fewer raises than they did, and are likely working harder because their employers have fewer people on the payroll. The ability of people to move from job to job has been hampered—as has the upward effect of such job changes on their wages. Most important, the 64 percent of American households that own their own homes has seen a 20-40 percent decline in their own wealth, as the home in question is usually their largest investment.

 

These are the structural obstacles placed in nearly everyone’s path by the painfully slow economy. They are the true cause of the president’s political problems. Jobs reports will only help solve that when they suggest there is a thoroughgoing recovery underway that will break the ice, melt the freeze, and allow the economy to roll once again. We are a long, long way from that.

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FactCheck.org : Dubious Denver Debate Declarations

We found exaggerations and false claims flying thick and fast during the first debate between President Obama and his Republican challenger, Mitt Romney.

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The Return of Massachusetts Mitt

The Return of Massachusetts Mitt | Common Sense Politics | Scoop.it
Tonight’s debate saw the return of the Mitt Romney who ran for office in Massachusetts in 1994 and 2002. He was obsessive about portraying himself as a moderate, using every possible opening or ambiguity — and, when necessary, making them up — to shove his way to the center. Why he did not attempt to restore this pose earlier, I cannot say. Maybe he can only do it in debates. Or maybe conservatives had to reach a point of absolute desperation over his prospects before they would give him the ideological space. In any case, he dodged almost every point in the right wing canon in a way that seemed to catch Obama off guard..
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New York Times Columnist Reveals The Biggest Mistake Of Obama's Presidency

New York Times Columnist Reveals The Biggest Mistake Of Obama's Presidency | Common Sense Politics | Scoop.it
The hot read of the weekend is a piece from New York Times economics writer David Leonhardt titled Obamanomics: A Counterhistory.
The gist: The Obama team came into office thinking a lot about how recoveries in the aftermath of financial crises were liable to be much worse and drawn out than normal recoveries, and yet it didn't attack the problem with the requisite gusto.
Sure, there was the $800 billion stimulus. And the Fed took unprecedented measures to bolster the economy. But it wasn't enough, and there was no thinking ahead that the economy might need even more beyond the initial push. This is despite the fact that some of Obama's advisors clearly had anticipated the possibility that things might be much worse than realized.
Leonhardt notes that in the early days, Obama and his aides were reading the work of economists Carmen Reinhart and Kenneth Rogoff, who were about to publish their famous book: This Time Is Different, which spelled out the gory history of post-crisis recoveries.

 

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The Economy and the Blame

The Economy and the Blame | Common Sense Politics | Scoop.it
The problem with Mr. Romney’s “blame Obama” mantra is that Mr. Obama is not responsible for the deep and protracted recession that predated his administration and is at the root of the persistently high unemployment. Job creation under Mr. Obama’s term far outpaced the job growth following the first recession of George W. Bush’s presidency in 2001. New evidence released this week showed recent employment has been stronger than previously tallied.

 

Mr. Obama is not free from responsibility for the economy. He did not push hard enough for a larger stimulus and more robust housing relief. He also changed focus prematurely from creating jobs through stimulus to reducing the deficit through spending cuts.

 

But Mr. Romney doesn’t criticize the president for those mistakes. He criticizes the use of government to help the economy — including the stimulus, the auto rescue, health care reform and financial regulation — all the while calling for more tax cuts and deregulation, policies that inflated the bubble and led to bust. He wants to couple those policies with savage budget cuts, fantasizing that a swift reduction in the deficit would boost economic growth.

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Disdain for Workers

Disdain for Workers | Common Sense Politics | Scoop.it
These days we are getting to really see the beliefs of the party that is of the wealthy, by the wealthy, and for the wealthy.
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The Truth About Tax Cuts For The Rich

The Truth About Tax Cuts For The Rich | Common Sense Politics | Scoop.it
A new study by the nonpartisan Congressional Research Service has found that over the past 65 years, tax cuts for the rich have not led to economic growth and instead are linked to greater income inequality in the United States.
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