Today, the Conference Board releases critical consumer confidence data for July. Economists expect it to hold near steady at 81-the June reading was 81.4. Wall Street follows consumer confidence closely because it drives stock prices, but the auto sector and
Slow growth and increasing inequality are ripping the social fabric of America–vanquishing the dreams of working families, saddling the young with onerous student debt, and frustrating retirement plans. President Obama is stirring passions by proposing government initiatives he hopes will
President Obama is speaking around the country to sell his economic program directly to voters–over the opposition of a reluctant Congress. But it’s all about politics, not economics. The recovery has been painfully slow. Through last fall, growth was only
Egypt presents unpleasant choices and is emblematic of challenges confronting U.S foreign policymakers across the globe. U.S. policy should adjust in ways once viewed as unthinkable. Through most of the twentieth century, the United States enjoyed preponderant economic and military
Much like a drug addict, the U.S. economy is hooked on the Fed’s easy money policies. Since the financial crisis, the Fed has pumped trillions of dollars into banks and financial markets–first, by buying banks’ troubled real estate loans and
Ben Bernanke has convinced financial markets easy money policies will continue as long as needed. That may be forever, and those place American prosperity and sovereignty at grave risk. The economy is as sick today as it was prior to
In Egypt, the United States is once again confronted with a tough choice between backing the champions of the status quo ante–a military-endorsed regime that resembles that of deposed President Hosni Mubarak–or accepting an Islamic state. As much as anything
The tragedy in Egypt is a warning to Americans–imperious executive power is a threat to liberty everywhere. In Arabia, citizens are sharply divided between advocates of modernism and those who embrace strict interpretations of Islam and favor a theocratic order.
The Labor Department announced the economy added 195,000 jobs in June. The pace appears to be picking up, but it is still not the 360,000 jobs needed each month to bring unemployment down to 6 percent over the next three
Recent events in Egypt put President Barack Obama in a tough spot, even if not as difficult as that of deposed Egyptian President Morsi. At least the latter gentleman knows his own mind, even if paying a high price for
The Commerce Department reported the May deficit on international trade in goods and services jumped to $45.0 billion from billion $40.1 billion in April. Overall, the deficit is up from $25 billion when the economic recovery began in mid-2009 and
Congressional frustration with efforts to get to the bottom of IRS targeting of conservative groups plainly shows the tax agency is dangerous to civil liberties, irrevocably broken, and corrupting national politicians. Investigators on Capitol Hill and in the Justice Department
President Obama’s Climate Action Plan won’t do much to curb global warming, but it will please liberals who delight in extending government control over large segments of the economy. The president argues the overwhelming majority of scientists, including some early
GDP growth was revised downward for the first quarter from 2.4 to 1.8 percent because consumer spending, business investment, and exports grew less than previously estimated. Slack consumer and business spending raise questions about whether household balance sheets have strengthened
On Wednesday, the Federal Reserve is expected to indicate when and how quickly it will pull back from its easy money policies. Americans can expect mortgage rates to climb, selling homes to get tougher, and interest rates to increase on
Wall Street is cooking up another crisis–making shoddy loans and selling worthless securities to investors hungry for higher yields than CDs and government bonds offer. Dodd-Frank banking reforms imposed very costly regulations on mortgage and commercial lending. Regional banks, which
The revelation that the National Security Agency is tracking every phone call each American makes, and broadly mining internet data puts President Obama at the center of yet another controversy. He and supporters in the Republican leadership, not Edward Snowden,
President Obama is failing as CEO of the U.S government. His appointment of Susan Rice to be his top national security advisor and other missteps, indicate he views the fallout from recent scandals as a political challenge, rather than a
The Labor Department announced the economy added 175,000 jobs in May, but that is hardly the 360,000 thousand jobs needed each month to bring unemployment down to 6 percent over the next three years. The jobless rate rose to 7.6
