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Republicans rip 'unbalanced' budget proposal, bristle at proposed tax hikes

Republicans rip 'unbalanced' budget proposal, bristle at proposed tax hikes | ZP3_GOPO | Scoop.it
Republicans ripped President Obama's long-awaited budget proposal Wednesday, describing it as a reheated plan that revives controversial tax hikes in the name of deficit reduction without ever balancing the budget. ...
Zach Perlman's insight:

I like this article because it highlights more than just the tax proposal, but also reactions to it. 

 

In his proposal, President Obama tried to make it somewhat of a compromise, pairing a tax incresase, which the republicans hate, with a change in Social Security, which democrats hate. As you would guess, divided government really showed here. While they praised the social security changes proposed, they bashed the tax increase completely. Not even an attempt at compromise has helped the government come to any agreements. 

 

I also like the fact that it highlighted a certain interesting point in the budget proposal. Obama proposed a tax raise on ciggerette sales which would raise it to about $1.45 a pack. This would fund a new program for pre-schools. It is a cause and effect. Less people would be buying a product harmful to your health, helping to better the overall health of the public. The effect of the increased money supply then would help fund education. To me, that kind of thing is the highlight of this proposal.

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'Best-Looking' GDP Drop You'll Ever See

'Best-Looking' GDP Drop You'll Ever See | ZP3_GOPO | Scoop.it
Negative economic growth in the fourth quarter provided a scary headline to start Wednesday's trading but probably little else in market impact.
Zach Perlman's insight:

The GDP dropped, but the increase in consumer spending is the sign of economic growth and recovery. Do not expect a full recovery though, some economist worry about being on the verge of a recession despite a GDP expected to grow. A good GDP does not necissarily gurantee a stable economy all the time.

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Zachary Beery's curator insight, February 7, 2013 11:46 AM

This article says that th recent drop in GDP isn't that bad cause it is mostly due to the recent cut in goverenment spending. this is pretty much just the drop before the big leap that hopefully comes soon.

Sarah Nguyen's curator insight, February 14, 2013 4:58 AM

Even though the GDP has dropped at .1 percent, it is reassuring to know that it is largely because of government spending and business inventories. Consumer spending and the private sector in general was able to grow more than the previous quarter, even despite the natural disaster Sandy.

Patrick Demitis Brown's comment, February 21, 2013 12:06 AM
GDP is probably going to be just as low or lower in the second quarter, once we've gotten rid of the payroll tax cuts. Im not sure how our congress isn't doing anything about that, this will increase taxes, defense spending going down, the number of consumers able to spend will go down and GDP will go down more sooo......
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The most brutal ad you’ll see this election

The most brutal ad you’ll see this election | ZP3_GOPO | Scoop.it
Remember when Mitt Romney mocked efforts to "slow the rise of the oceans"? That joke's not so funny this week, as a hard-hitting new ad points out.
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State Felon Voting Laws - Felon Voting - ProCon.org

State Felon Voting Laws - Felon Voting - ProCon.org | ZP3_GOPO | Scoop.it

SCOOPABLE 9/20 (Not 9/18)

List of states where people with felony convinctions are barred from voting.

 

This shows a list of all 50 states and their voting restrictions for their prison inmates convicted of felonies. I found this interesting because it did not occur to me that a candidate may lost a vote because of somebody being convicted of a felony. The list shows states that's felons: may lose their vote permanently, have their right to vote restored after their term of incarceration, after their parole is over, and after their probation is over, or all three at once, and the states that make it so that even their felons can legally vote without restriction.

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Romney's bounce from convention looks short-lived: Reuters/Ipsos poll

Romney's bounce from convention looks short-lived: Reuters/Ipsos poll | ZP3_GOPO | Scoop.it
WASHINGTON (Reuters) - A modest bump in popularity for U.S.

 

The post-RNC poll results surprise me, at least to a small extent. After hearing the speeches at the convention, I was slightly sure that a large bounce would be in store for Romney, yet while he did get a bounce, according to this story, as well as many others report that the bounce was minimal. I thought that every speaker that spoke at the RNC was strong. They all delivered passionate speeches, my personal favorite being Anne Romeny's. While I would have liked to hear more about policy from Romney and co., they still delievered speeches that the general public likes to hear, a lot of fluff and background on themselves. I figured that the sort of speeches that were given would appeal to many undecided voters, but the results, to my surprise, say otherwise. As an Obama supporter it is a nice surprise, but unexpected nonetheless.

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U.S. Growth Halted as Federal Spending Fell in 4th Quarter

U.S. Growth Halted as Federal Spending Fell in 4th Quarter | ZP3_GOPO | Scoop.it
The government played a role in slowing the economic recovery as cuts in military spending and other factors overwhelmed the Federal Reserve’s expanded campaign to spur growth.
Zach Perlman's insight:

The main reason for the decrease in the GDP is because of a huge decrease in defense spending (22.2%). But this decrease does not automatically show that we are on the verge of a recession. All the parts of the GDP formula must be looked at to determine where we are heading, and with an increase in consumer spening, it looks like we will be okay, unless a tax increase that is too much brings it down.

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Bo Li_1's curator insight, February 6, 2013 12:50 PM

It seems that this article says the the government has significantly decreased in military spending. As a result, it seems that US economy will also suffer a decrease in GDP.

Andrew Alter's curator insight, February 6, 2013 6:51 PM

The economy may have shrunk, but it shrunk in the most unharmful way for the average American. Government spending substantially decreased,  notably in the military, which allows for future government spending in domestic areas.

Matt Kellogg's curator insight, February 6, 2013 9:57 PM

govenment cut a lot of defense spending. Economy didnt decline much considering how much was cut

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The only chart you need on the GDP report

The only chart you need on the GDP report | ZP3_GOPO | Scoop.it
Last quarter's GDP report has been been called "the best-looking contraction in US GDP you’ll ever see." Here's the exact picture it paints.
Zach Perlman's insight:

Despite a .1% drop, the future is thought to be hopeful by many economists because of high consumer spending, which is the single most important factor in the GDP. The chart shows the large drop in defense spending as well as a drop in business investment spending. Despite those two drops though, as said, Consumer spending is on the rise and that alone will help the GDP greatly.

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Christina Breitbeil's curator insight, February 7, 2013 12:55 AM

This graph was very interesting to observe, because it offered insight into the complexities behind the number that is the collective GDP, which in this article is a fall in 0.1%. It was significant, in my opinion, that although the total GDP was a decrease, consumer and investment spending is doing exceptionally well. This just goes to show that the economy may be somewhat more stable than how it appears on the surface.

Zachary Beery's curator insight, February 7, 2013 11:44 AM

This chart shows the percent change in each department of the GDP. Whether it is going up or down. It shows an increase in consumer spending so that is a good sign for the economy.

Sarah Nguyen's curator insight, February 13, 2013 8:09 AM

This article and it's graph of the breakdown of the GDP is very reader friendly and easy to understand. It is very clear and obvious that the components of the GDP that are making the whole suffer the most are business inventory and federal defense spending. While reading, there was one comment by another reader that especially caught my eye. They reasoned that because many people were anticipating a pro-business Romney to win the election in the third quarterr of 2012, they planned ahead with increased inventories and expansion.

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Twitter / BarackObama: The choice on education: ...

"@BarackObama: The choice on education: http://t.co/BKI2RxAW" ;

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The Latino gender gap: Latina voters prefer Obama by 53 point margin | Latino Decisions

The Latino gender gap: Latina voters prefer Obama by 53 point margin | Latino Decisions | ZP3_GOPO | Scoop.it

SCOOPABLE 9/18

 

These polls show the Latino influence in the 2012 presidential election in a number of ways. The results show that Obama is greatly favored among Hispanic women and Hispanic men. The other poll on the page also shows that the majority of Hispanic men and women also said that they would put their trust in any Democrat rather than Republican.

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