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  • U.S. January New-Home Sales Drop Despite Credit Extension

    02/24/2010 8:00:58 PM PST · by Lorianne · 10 replies · 371+ views
    Housing Zone ^ | February 24, 2010 | Matt Phair
    The Commerce Department said on Wednesday sales dropped 11.2 percent to a 309,000 unit annual rate, the lowest level since records started in 1963, from 348,000 units in December. December’s original estimated rate was 342,000, a drop of 7.6% from November. December’s rate was later revised to 348,000. January’s rate was 6.1% below the January 2009 estimate of 329,000. Details of the sales numbers are as follows: Sales took the biggest dive in the Northeast, where 24,000 homes were sold in January, compared to 37,000 in December, a decline of 35.1%. In the West, sales declined 11.9% to 74,000 from...
  • U.S. to retire nuclear Tomahawk missiles

    02/23/2010 10:02:56 PM PST · by ErnstStavroBlofeld · 67 replies · 1,882+ views
    Kyodo News ^ | 2/23/2010 | Japan Times
    The United States has informally told Japan it will retire its sea-based Tomahawk cruise missiles carrying nuclear warheads, in line with President Barack Obama's policy to pursue a world free of atomic weapons, government sources said Monday. Washington said the move would not affect the nuclear umbrella, addressing concerns in Tokyo about the step's effect on U.S. deterrence against potential attacks from China, North Korea or other countries, the sources said. The retirement will probably be stipulated in the Nuclear Posture Review, a new nuclear strategic guideline the Obama administration is slated to submit to Congress next month, they said....
  • US Jan mass layoffs edge up on weak manufacturing

    02/23/2010 1:30:01 PM PST · by traumer · 16 replies · 397+ views
    WASHINGTON, Feb 23 (Reuters) - The number of mass layoffs by U.S. employers edged up in January as manufacturers stepped up job cuts, data showed on Tuesday, but probably not enough to alter views that the economy is on the brink of creating jobs. The Labor Department said the number of mass layoff actions -- defined as job cuts involving at least 50 people from a single employer -- increased by 35 to 1,761. Mass layoffs had trended lower since August. A total of 182,261 workers were affected last month. In January, 486 mass layoff events were reported in manufacturing,...
  • Banks Continue To Pull The Rug Out From Under The Economy

    02/22/2010 2:20:40 PM PST · by blam · 36 replies · 818+ views
    The Business Insider ^ | 2-22-1010 | Joe Weisenthal and Kamelia Angelova
    CHART OF THE DAY: Banks Continue To Pull The Rug Out From Under The Economy Joe Weisenthal and Kamelia Angelova Feb. 22, 2010, 3:21 PM Can the economy revive if banks don't start to lend again? Let's hope so. Today the St. Louis Fed released its latest monthly look at commercial and industrial loans at major banks -- a measure that some would say represents the essence of the US banking system. As you can see, this measure is still falling like a knife -- a bad sign for the ongoing health of the economy. (And also not what we...
  • Rahm Emanuel Is Toast

    02/22/2010 2:17:40 PM PST · by FromLori · 60 replies · 2,750+ views
    Economic Policy Journal ^ | 2/21/10 | Robert Wenzel
    It looks Rahm Emanuel is done. Dana Milbank transcribed an article written by Rahm Emanuel today in The Washington Post. Never has an article been more clearly written to support a political benefactor. As I was reading the article lavishing praise on Rahm Emanuel and throwing dirt on everyone else inside the White House, I kept thinking two things. First, how many leaks has Rahm given Milbank over the years? How much do they love each other? Milbank gets a cherished inside source so he can seem like he's got the scoop on what's happening in DC and Rahm gets...
  • Susan Estrich: What Went Wrong?

    02/21/2010 9:58:45 PM PST · by 2ndDivisionVet · 118 replies · 3,713+ views
    Creator's Syndicate ^ | February 19, 2010 | Susan Estrich
    Something has gone very wrong. Was it just a year ago that Democrats assumed more control in Washington than the party has had in my lifetime? It was. Was it just a year ago that President Obama promised a new era of change, bipartisanship and transparency? It was. Just weeks into office, the president pushed through a major stimulus package to save the American economy, restore credit, build infrastructure and create jobs. Now, unable to get Republicans to support what was their idea — a bipartisan commission on the deficit — the president has appointed one of his own, complete...
  • The USS Obama Is Taking on Water

    02/21/2010 5:38:30 PM PST · by AJKauf · 29 replies · 1,186+ views
    Pajamas Media ^ | Feb. 21 | J Robert Smith
    Many on the left are in denial. The USS Obama, certified as unsinkable a year ago, is taking on water in its bilges. It is starting to list portside in the dark, cold political seas — on its maiden voyage, no less. The Obama is made of sturdy stuff, the left contends, designed by the smartest engineers. Its skeleton and hull, shaped by unbendable liberal principles. Its engines and turbines, powered by attractive government-growing, corporate-hating proposals. Its furnaces, stoked by legions of young and minority voters, hopelessly idealistic and hungry for change, and by the disaffected middle class, sick of...
  • Rasmussen: Daily Presidential Tracking Poll (-19)

    02/21/2010 6:30:07 AM PST · by Oldeconomybuyer · 103 replies · 4,421+ views
    Rasmussen ^ | February 21, 2010 | Scott Rasmussen
    The Rasmussen Reports daily Presidential Tracking Poll for Sunday shows that 22% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as President. That is the lowest level of strong approval yet recorded for this President. Forty-one percent (41%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -19. The Approval Index has been lower only on one day during Barack Obama’s thirteen months in office (see trends). The previous low came on December 22 as the Senate was preparing to approve its version of the proposed health care legislation. The current...
  • Why is Obama failing?

    02/20/2010 10:59:16 AM PST · by knighthawk · 72 replies · 1,588+ views
    National Post ^ | Februari 20 2010 | Robert Fulford
    Barack Obama has done everything possible to destroy the glowing reputation he brought to the White House after his triumphs in the Democratic primaries and the general election of 2008. The most striking fact about the cloud of failure now surrounding him is that it’s entirely self-generated. No credible Republican has been harassing him, leaping on his every mistake. Journalists of the liberal persuasion remain admirers. His most vocal detractors are loudmouthed commentators, unlikely to influence the independent voters who made Obama President. He has no one to blame. This week, when Senator Evan Bayh of Indiana announced that he...
  • Millions of Unemployed Face Years Without Jobs

    02/20/2010 6:17:52 PM PST · by ricks_place · 111 replies · 2,201+ views
    New York Times ^ | February 20, 2010 | PETER S. GOODMAN
    BUENA PARK, Calif. — Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits. Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed. Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in...
  • Daily Presidential Tracking poll ( -17 )

    02/20/2010 8:08:44 AM PST · by marstegreg · 71 replies · 2,032+ views
    Rasmussen reports ^ | Feb 20, 2010 | Scott Rasmussen
    The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 23% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as President. That matches the lowest level of strong approval yet recorded for this President. Forty percent (40%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -17
  • USS Obama is sinking

    02/18/2010 12:34:43 AM PST · by kingattax · 20 replies · 1,119+ views
    American Thinker ^ | February 17, 2010 | J.C. Arenas
    The Obama Administration continues to proclaim the strength of the nation's economy, and foreign governments are responding with a collective "yeah, right". ABC News reports: Foreign owners of US government debt reduced their holdings by the largest monthly amount ever in December, with China offloading so many Treasury securities that it is no longer the largest foreign holder. According to new data released Tuesday morning by the Treasury Department, foreign holdings of Treasury securities plunged by $53 billion in December, a record drop. China led the sell-off, reducing its holdings by $34 billion. The administration has continued to increase the...
  • Obama Takes Deficits To New Frontier

    02/17/2010 5:35:35 PM PST · by Kaslin · 1 replies · 225+ views
    Investors.com ^ | February 17, 2010 | JEFFREY H. ANDERSON
    In his State of the Union address, President Barack Obama said that "families across the country are tightening their belts and making tough decisions," so the "federal government should do the same." The following week, the president presented his new budget, which contains $1.267 trillion in new deficit spending. So much for cinching up the belt. Elsewhere in his address, the president said, "Let me start the discussion of government spending by setting the record straight." But, in his subsequent words, he barely even mentioned his own deficit spending. This, of course, will not do. If we are to set...
  • CNN poll: 52% say Obama doesn't deserve reelection in 2012

    02/16/2010 4:08:03 PM PST · by DCBryan1 · 126 replies · 5,013+ views
    The Hill ^ | 16 FEB 10 | Michael O'Brien
    CNN poll: 52% say Obama doesn't deserve reelection in 2012 By Michael O'Brien - 02/16/10 01:35 PM ET 52 percent of Americans said President Barack Obama doesn't deserve reelection in 2012, according to a new poll. 44 percent of all Americans said they would vote to reelect the president in two and a half years, less than the slight majority who said they would prefer to elect someone else. Obama faces a 44-52 deficit among both all Americans and registered voters, according to a CNN/Opinion Research poll released Tuesday. Four percent had no opinion. The reelection numbers are slightly more...
  • Obama Pushes The Dictator Button

    02/14/2010 8:23:58 AM PST · by callisto · 108 replies · 5,000+ views
    David Horowitz's NewsRealBlog ^ | February 14, 2010 | Liz Blaine
    President Obama decided it’s time to push the dictator button and tell the Legislature they’re expendable. Using the Old Gray Lady for softball coverage, the White House announced the President is prepared to use Executive fiat to advance his energy, environmental and fiscal policies. But what good is signing your agenda into law if you don’t have radicals to implement it? Oh yeah, he’ll also be making recess appointments. It’s good to be King! On Friday White House chief of staff, Rahm Emmanuel announced the President is preparing, “to get the job done.” Translation: Obama is tired of waiting for...
  • Obama's chance to be next FDR or Reagan fading fast

    02/13/2010 7:58:00 AM PST · by maggief · 39 replies · 593+ views
    McClatchy ^ | February 12, 2010 | Steven Thomma
    WASHINGTON — President Barack Obama's dream of being a historically transformational figure like Franklin D. Roosevelt or Ronald Reagan may be slipping from his grasp. To be sure, he's already made one lasting mark that changed the country's course — his election as the first African-American president broke a centuries-old racial barrier.
  • President Obama Signs Law Raising Public Debt Limit from $12.4 Trillion to $14.3 Trillion

    02/12/2010 1:33:55 PM PST · by Free ThinkerNY · 17 replies · 603+ views
    abcnews.com ^ | Feb. 12, 2010 | Jake Tapper
    Behind closed doors and with no cameras present, President Obama signed into law Friday afternoon the bill raising the public debt limit from $12.394 trillion to $14.294 trillion. The current national debt is $12.3 trillion. Check out the National Debt Clock, which tells you your share of that -- roughly $40,000 per citizen, $113,000 per taxpayer.
  • Quinnipiac : Obama down to 45%

    02/11/2010 4:30:02 PM PST · by RobinMasters · 22 replies · 634+ views
    Hot Air ^ | February 10, 2010 | ED MORRISSEY
    A pair of polls released today show that the electorate continues to sour on Barack Obama and his agenda after the State of the Union address. Quinnipiac’s survey of over 2600 registered voters produces a 45% approval rating with a 46% disapproval, the highest yet from Quinnipiac. Trust in government has plunged as well: American voters remain deeply divided about President Barack Obama’s job performance, giving him a 45 – 46 percent job approval, but disapproval of both Democrats and Republicans in Congress tops 2-1. This could explain why only 2 percent trust government to do what is right almost...
  • Obama Strikes Softer Note With Wall Street

    02/10/2010 5:01:26 AM PST · by STONEWALLS · 23 replies · 355+ views
    NY Times ^ | 2-10-10 | NY Times
    "In an exclusive interview with Bloomberg Businessweek, President Barack Obama took a more conciliatory stance toward the financial sector, saying he did not “begrudge people success or wealth,” as it was “part of the free-market system.” The president’s comments come days after the chief executives of JPMorgan and Goldman Sachs received multimillion dollar bonuses. But during the interview in the Oval office, he pointed out that “there are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”
  • Barack Obama faces Armageddon in latest polls

    02/09/2010 6:32:06 AM PST · by no dems · 49 replies · 1,863+ views
    Telegraph.Co.Uk ^ | February 9, 2010 | Nile Gardiner
    Forget “Snowmageddon”. Washington may be deluged under nearly three feet of snow, but Barack Obama is experiencing a sinking feeling of another kind. The latest US polls, highlighted here by Daniel Foster at The Corner at NRO, are stunningly bad for the president. Frankly, the Titanic’s prospects looked better than Obama’s do today, even after it hit the iceberg.