« Inauguration One Week Later: What Can Be Expected Now? | Main | Battle Brewing over LNG in Washington »

01/31/2013

What happened to the Economy? Where did it go?

In looking over the newspapers this morning, I was struck how the news has changed or has been changed for us. Not long ago, the major concern was the economy, unemployment, government spending and the deficit. Nary can such headlines be found now. 

Fiscal cliff went away in a whimper, federal debt ceiling has been suspended until May so government can continue to spend and spend. Stock market seems to be rolling along even with negative growth last quarter. However, have things really changed and is anyone paying attention to  what really matters?

Headlines and media focus seems to be on four main items:

Guns, guns and more guns. High profile hearings, lots of staged events, plenty of outrage. 

Same Sex Marriage. Got to be something more important on a national scale because it is a State issue

Illegal Immigration. This has been a problem left unaddressed with laws unenforced for the past 25 or more years. The failure of the government to prevent a tidal wave of people crossing the border has change the cultural of the country and placed enormous financial burdens on many states and localities. Business is also a culprit in its desire and use of cheaper "undocumented workers." It is a problem, it should be addressed in regular order not by some cabal but it is not an urgent, pressing national crisis being protrayed. The camera crowding 8 Senators who think they have all the answers will find this issue will not be so easy to resolve. 

Crazy nominations. Political rumblings on various nominations, particular ex-Senator Hagel to head the Defense Department. I suggest Mr Obama make him a recess appointment, oh yeah that did not work out so well. 

So, there you have it. The Federal Government will spend about $4 billion today, they have to borrow. Same guys are sitting somewhere today and tomorrow without work. The President is indifferent with the election over. He is focused on collective action, equality and justice. Forget that people are worried and in spite of declarations the economy is not OK or going to be OK.

It is very strange and interesting, indeed.. 

Posted at 03:40 PM in Budget and the Economy, Current Affairs, Politics |

|

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.

  • National Debt: Passed another marker
    The federal debt continues to grow with increases of billions each day, Nothing being done to address this serious long term threat. It is likely to worsen given all the talk about tax cuts and massive infrastructure spending, whatever that mean. The debt hits $20 trillion as Mr. Obama is finally gone, almost double since he took office. Quite a legacy and will be a drag as interest rates climb.

  • Political Report Card
    Now that Mr. Trump and has been in office a few months , here are the latest grades for our government,

    Administration: It is hard to grade the Administration but of the multiple missteps, the erratic behavior of Mr. Trump and the self-inflected political blunders. In certain, the Administration is making needed progress in certain areas but has failed or make progress on any major legislative initiative. The entire Russian-Comey-battle royal with the press-fill in the blank scandal could have been fill in the blank could have been avoided with a bit of common sense and political foresight. Mr Trump needs to stop being so sensitive and feling slighted at every move and get off the stupid twitter. Grade: Down to D plus.

    Senate: Republicans are in the drivers seat have failed to move the needle on almost everything except The Gorsch nomination. Where are the votes on tax reform, health care, spending, Rolling back Obama regulation has been a plus but not enough.back seat. Venom and obstruction from the liberals is not productive for the country The country expect action, not excuses. Grade: Grade C

    House: The House has moved somethings along, including the roll back of regulations. Did at least vote on health care, even though a bit awkward. regulation Tax Bill passage is a must. Remaining Grade : Grade B

  • Tax Reform? What is it and How it should be!

    I have developed a three-part series on what is wrong with the tax system and suggestions to fix it. Not your usual plan but one making choices to improve the system. Become tax czar with me for a day and suggest your changes with some unexpected ideas.

    If you would like to get a complete copy,send me an e-mail. Click here to subscribe

  • Jack O. NutterJack O. Nutter is a Washington DC attorney and a principal in the consulting firm Nutter & Harris, specializing in political and strategic advice with notable experience in tax, energy, environmental and climate issues.

    Mr. Nutter was previously Tax Counsel to the US Senate Finance Committee and has been involved in several US presidential campaigns.

    He has been in private law practice and worked in the former Soviet Union, Europe and Africa for 15 years on private investment and government projects.

    He holds a Master of Laws (taxation) from Georgetown University Law Center and a Doctor of Jurisprudence from the University of Arizona College of Law. He has been published in numerous tax journals and magazines.

    Reach Jack by e-mail here.


Categories

Archives

Subscribe to this blog's feed

Search