Archive for June 16th, 2010

Flash: O’s morning after polling …

June 16, 2010

According to this morning’s Rasmussen poll results …

Overall, 42% of voters say they at least somewhat approve of the president’s job performance.

That’s the lowest level of approval yet recorded for this president.

The president’s approval rating has held steady in the 46% – 47% range for six months.

It remains to be seen whether this new low is merely statistical noise or the start of a lasting change.

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Full report:
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

Posted in Obama Administration, Polls & Surveys | Leave a Comment »

Surprise, surprise: It’s the wealthy that drive retail sales … so, tax ‘em to improve the economy … huh ?

June 16, 2010

A new poll from Gallup (chart below) confirms that consumers who make more than $90,000 account for practically all of the periodic variation in consumer spending.

Upper-income Americans’ self-reported spending averages about $120 per day – about twice the spending level of those making less than $90,000.

Note that lower income spending is practically flatlined at $60 per day. Makes sense since most of the spending is on necessities (or at least I hope so).

But, upper income spending ranges plus or minus 20% – from about $100 per day when times are perceived to be tougher, to $145 per day when optimism reigns.

Couple of implications …

These days, gov’t programs (e,g, via Obama’s dollar-a-day “make work pay” tax rebate) don’t move the needle on lower income spending … not even the dollar-a-day seems to flow through.

Higher taxes on the wealthy drive them to the lower limit of their spending ($100 per day) … from their higher limit ($145 per day). 

Impact on the recovery?  Draw your own conclusion …

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Source article: WSJ, Wealthy Are the Only Ones Spending, June 11, 2010
http://blogs.wsj.com/economics/2010/06/10/wealthy-are-the-only-ones-spending/

Posted in Economics, Taxes | 1 Comment »

Roof leaking? … Then bulldoze the neighborhood.

June 16, 2010

Couple of takes from last nights speech ….

* * * * *

Probably just me, but the President just didn’t look right in the venue.  It reminded me of student-government day when the Class Prez got to be Mayor of Maple Heights for a day. 

Or, maybe it was the lack of a doting throng of pressers and supporters.  Just didn’t seem right.

* * * * *

I’m glad the WH leaked that last night’s address would be a shameless pivot to Cap & Tax – oops, I mean Cap & Trade.  Otherwise I would have screamed.

After a couple of minutes of necessary Gulf spill foreplay, it was …  bang ! … go for the order: 

The roof is leaking badly, so it’s time to bulldoze the neighborhood and rebuild with most costly homes (Fannie financed, of course).

* * * * *

I cringe every time Obama mentions the Nobel prize winning Secretary of Energy. 

1) Doesn’t the President know that many folks considered his Nobel Peace Prize to be laughable?  Where exactly has peace broken out ?

2) I forget, was Chou’s prize in petroleum engineering or something else relevant? 

3) What exactly has the dude done so far? Looks to me like the oil is still gushing and heading towards shore …

* * * * *

I didn’t hear any references to the Governors who have stepped up to make things happen.

Why no mention Salazar (it’s his arena), Napolitano (“it’s a matter of national security”), Holder (lien on them and put ‘em in jail), or the head of FEMA (whoever that might be).  Weren’t they dispatched to manage the mess?

There still isn’t an organization structure – staffed by capable managers – that can get control of the situation.

* * * * *

“Unprecedented” has replaced “paradigm” as my most dreaded word …

Posted in Energy, Obama Administration | Leave a Comment »

Stop right there, professor … proof of citizenship, please !

June 16, 2010

Now it’s personal …

I was suspected of crossing a border to illegally access government-provided services.

Yes, your mild mannered (usually) man of the classroom … suspected of unlawful conduct.

So, an intimidating officer of the state demanded to see an ID and proof of citizenship.

Really !

OK, it wasn’t the U.S.- Mexico border … it was the Maryland-Virginia border.

The services that I was allegedly attempting to use illegally: use of the “Anne Arundel County landfill and recycling center” (a.k.a. the local dump).

That’s right.  In order to throw a couple of big cardboard boxes into the recycling grinder, I had to show my driver’s license and to produce proof of Anne Arundel County, Maryland residency.  Fortunately, I may be the only person driving around with paid real estate tax bills in my glove compartment.

Think about it.

Maryland is a state that – for example – reportedly looks the other way when it comes to admitting illegal immigrants into public schools and allows them to pay in-state tuitions at colleges.  No harm, no foul.

But, the line gets drawn in the sand at the local dump.

I didn’t mind showing my ID docs, but the situation certainly did make me scratch my head …

Posted in Immigration | 1 Comment »