Mike Flynn

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GDP Revisions Detail Weak Economy

On Wednesday, the Commerce Department released its advance estimate of 2nd Quarter GDP growth, reporting growth of 4%. The number was higher than economists' expectations of 3% growth in the quarter. Commerce noted, however, that this advance estimate is subject to future revision. Advance estimates for the 1st Quarter showed a 0.1% growth. That number was revised further today to a 2.1% contraction, orders of magnitude worse than the initial estimate. Jul 30, 2014 10:17 AM PT

US Chamber to Back Democrat Landrieu

Rob Engstrom, the US Chamber of Commerce's national political director, recently told a gathering of trade association executives that the Chamber planned to endorse Louisiana Democrat Sen. Mary Landrieu in her reelection bid this year. The endorsement, reported by the New York Times columnist Joe Nocera, could decide the balance of power in the Senate and preserve Sen. Harry Reid as majority leader. Jul 28, 2014 6:43 PM PT

Poll: Americans Tuning Out Political Class

A new Politico poll finds 57% of likely voters disapprove of Obama's job performance and essentially split on which party they prefer. Respondents were drawn from areas with competitive House and Senate races this November. The poll also shows that voters are tuning out political leaders, establishment and grass roots, in both parties. Jul 21, 2014 11:10 AM PT

Scott Brown: Obama Policies 'Almost a Magnet' for Illegals

The unfolding illegal immigration crisis at the southern border is likely to change the political calculus of the fall midterm elections. Even in states far from the border, like New Hampshire, the situation is altering the political dynamics on the ground. Former MA Sen. Scott Brown, a moderate Republican, recently criticized his Democrat opponent NH Sen. Jeanne Shaheen and Obama for supporting policies that created the crisis. Jul 18, 2014 9:22 AM PT

GOP Lost at the Border

The central weakness of the Republican's political position in Washington has been on vivid display as the situation at the southern border has devolved into a complete crisis. As tens of thousands of foreign nationals overwhelm the border and render our sovereign boundary meaningless, Republicans in DC are tinkering with legislative fixes they say will address the situation. As if the crisis at the border is the result of some drafting error or a failure to enact some specific law relevant to this precise set of circumstances. It is a fool's errand. Jul 16, 2014 10:58 AM PT

3 Myths of the Highway Fund 'Crisis'

The Obama White House is preparing the ground for a late-summer fight with the GOP over the "highway trust fund" and infrastructure spending. In the next month or so, the federal "highway trust fund," effectively, will temporarily run out of money. The media will likely inflate this into a "crisis" and finger it as the culprit for bad economic news. This coming attraction, though, is based on three major myths. Jul 15, 2014 9:13 AM PT

Retail Sales Again Miss Expectations

The Commerce Department reported Tuesday that retail sales grew an anemic 0.2% in June, well below expectations. Economists had predicted a 0.6% increase. June's growth in retail sales was the slowest in 5 months. The report indicates that consumers continue to struggle for footing in the weak economy. Jul 15, 2014 9:06 AM PT

Dems Trounce House GOP in Grass-Roots Donations

The DCCC, the campaign arm for Rep. Nancy Pelosi and House Democrats, has raised $22 million more than the House GOP for the fall elections. That result is surprising enough, as Democrats' minority status gives them little political leverage in the House. More surprising, though, is that Democrats have raised almost three times as much money, $46 million v. $17 million, as Republicans from small-dollar grass roots donors. Recent polling would suggest the opposite situation. Jul 11, 2014 11:55 AM PT

Speakings Fees Potentially Huge Tax Deduction for Hillary

Trying to quell a controversy over a $225,000 speaking fee at UNLV, Hillary Clinton told ABC News Friday that all her speaking fees from colleges were "donated" to the family's Clinton Foundation. It naturally didn't occur to ABC News to ask whether Hillary deducted this "pass-through" from her taxes, as would likely be legal under the tax code. Jul 6, 2014 8:56 AM PT

Sun Setting on Obama's Economic 'Recovery'

On Wednesday, the Commerce Department again revised its estimate of 1st Quarter GDP. Instead of the anemic 01.% growth initially reported, the economy shrank by 2.9% in the first 3 months of the year. The 3-percentage point downgrade was the largest revision in US history. The economic contraction was the biggest since Obama first took office. Jun 29, 2014 9:46 AM PT

Personal Consumption Falls as Weather Warms

On Thursday, the Commerce Department reported that personal consumption, which makes up around three-fourths of the economy, fell in May, further undermining claims that a particularly cold winter was behind the recent economic slowdown. Jun 29, 2014 9:35 AM PT

Recording Industry Battles Online Radio

Allies of the recording industry in Congress have introduced new legislation to change copyright law in the face of a new, online landscape. But the proposal is facing criticism that it would insulate entrenched players in the market from competition, hurting consumers. Jun 23, 2014 6:21 PM PT

Christie-Backed Casino Goes Bust in NJ

The long-stalled project was only completed after New Jersey Gov. Chris Christie invested $260 million in tax rebates to help jump-start the failing project. It was part of a government-directed plan to "revitalize" Atlantic City. Now, it appears Christie's bet is bust. Jun 22, 2014 11:06 AM PT

The Left Reboots for Total War

Conservatives can be forgiven for believing the political winds are at their back. Obama is flirting with historically low approval ratings as much of the public simply tunes him out. Democrat-backed policies have failed to lift the economy and public anxiety about the limits of government activism grows. Conservative challengers will do well enough this primary season to argue that the "tea party" is alive and well. Behind the scenes, though, the left is retooling and the conservative movement seems unequal to the challenge. Jun 22, 2014 10:56 AM PT


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