Mike Flynn

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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

June Jobs Report Confirms Economic Stall

While this top-line job growth is generally good news, a deeper look at the numbers show the economy is far from achieving the breakout growth many economists have been expecting. In the most meaningful sense, the economy is still limping forward. Jul 3, 2014 12:47 PM PT

Business Insider: Economy Needs Crony Capitalism

Now that there are major warning signs that the dismal economic “recovery” under President Obama is faltering, Business Insider, which has seized on obscure data points to cheerlead for an economic “breakout,” appears to be looking for scapegoats. Jun 29, 2014 12:45 PM 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

DC Political Bubble Is Set to Burst

House Majority Leader Eric Cantor's shocking loss in his primary last week left many observers wondering if the fallout would spark a GOP leadership shuffle. Cantor's opponent, econ professor Dave Brat, with a shoe-string budget and zero support from national tea party "organizations," ran a classic grassroots campaign and bested the powerful incumbent by more than ten points. With an increased turnout from two years ago, the result had all the markings of a real voter revolt. Jun 15, 2014 1:10 PM PT

Curtain Closing on Obama Presidency

President Obama has faced low job-approval ratings for much of his presidency. In the current RealClearPolitics average of polls, his job-approval is currently 42%. According to Gallup, Obama's job-approval has never averaged more than 48% in each of his last four years in office. Jun 14, 2014 9:00 PM PT

World Cup: American Football Is a Sign of Nation's Decline

Every four years, large swaths of the world pause to enjoy the World Cup, a tournament of the 32 best national teams in soccer. Like clockwork, American sports writers and fans mark the occasion with loud commentary about how "stupid" they find the sport. Barrels of ink are spilled and vocal cords strained assuring everyone that our "football" is better than soccer and, more American. Project much? Jun 14, 2014 12:00 PM PT

VA Orders Uber, Lyft to Cease, Shift Resources to Lobbying

On Thursday, the Virginia DMV sent cease-and-desist letters to ride-sharing companies Uber and Lyft, asserting that their services are illegal in the Commonwealth. DMV Commissioner Richard Holcombe also "strongly" suggested the companies "focus their resources on participating in the state's study 'rather than continue illegal operations in the meantime.'" Jun 6, 2014 9:43 AM PT

Poll: Working Class Voters Abandon Obama

A new CNN poll of Americans finds falling support for President Obama on every policy issue. On no single issue does a majority of Americans approve of Obama's position. On many important issues, e.g. health care, immigration and foreign policy, his approval ratings have reached new lows. Perhaps surprisingly, however, his approval ratings are worst among America's working class. Those earning less than $50k and those who haven't been to college have turned decidedly against Obama. Jun 4, 2014 11:06 AM PT

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