Mike Flynn

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Jobs Miss: Economy Adds 209K in July, Unemployment Rate Up to 6.2%

The Labor Department reported Friday that the economy gained 209,000 jobs in July, while the unemployment rate ticked higher to 6.2%. Economists had expected a gain of 230,000 jobs in the month and an unemployment rate of 6.1%. The disappointing jobs number adds further uncertainty to financial markets, which are preparing for an end to the Fed's bond buying program. Aug 1, 2014 6:21 AM PT

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

Rep. Ted Poe: Ray Rice Punishment 'Pathetic'

Texas GOP Rep. Ted Poe, founder of the Congressional Victim's Rights Caucus, blasted the NFL's two-game suspension of Baltimore Ravens' running back Ray Rice on Friday. Jul 26, 2014 12:00 PM PT

GOP Boosts Libertarian 'Spoiler' in Montana

Most political handicappers of Senate races this fall generally assume that the GOP will capture the seat of retiring Sen. Max Baucus. Cook Political Report ranks the race as "Lean GOP," which, considering the source is a fairly bullish indicator. A new poll from liberal polling firm PPP, however, shows a race much closer than expected. A deeper look at the poll shows the GOP poised to strike an "own goal," and cede a race critical to the party's hopes of capturing the Senate. Jul 22, 2014 1:50 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

House GOP: Reverse Obama's Home Health Care Cuts

On Tuesday, GOP Reps. Greg Walden and Tom Price introduced legislation to reverse the Obama Administration's decision to cut payments for home health-care services by 14%. The planned cuts, the maximum allowed under ObamaCare, jeopardize health care services for more than 3 million services and threaten to push 40% of home health care providers into bankruptcy. Jul 15, 2014 1:07 PM 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

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


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