Unemployment falls in a majority of US cities

By GottaLaff

Socialism at work:

Unemployment rates fell or remained level in three-quarters of the 372 largest metropolitan areas, a sign that the economic recovery is widespread.

The Labor Department said Wednesday the jobless rate dropped in 69 percent of metro areas last month from February. It rose in 24 percent of large cities and remained the same in the rest.

That's an improvement from February, when the unemployment rate decreased in 51 percent of metro areas and increased in one-third.

The report follows other recent encouraging news about jobs. Employers added 162,000 jobs in March, the government said earlier this month, the most significant gain in three years.

Little by little, we're seeing improvement. The Party of No can yell and scream all they want, but numbers are numbers. The abysmal Bush economy can't possibly be reversed quickly, but we are seeing increasing signs of recovery.

Of course, the GOP will take full credit when we finally pull out of it, because, of course, they were such a big help.

Poll-itics: Latinos more upbeat about economy

By GottaLaff

The Party of No better take note, President Obama is getting a big "si se puede" from a voting block that can make a difference:

MIAMI, April 21 (UPI) -- A Florida-based poll Wednesday indicated Hispanic Americans are more optimistic about the future of the U.S. economy than the general population.

The Telemundo poll in Miami reported that almost four out of five Hispanics think the economy has stabilized or that it has already begun to improve.

I'm sure that spiffy new racial profiling immigration legislation in Arizona is going over well, too.

The Tea Baggers are getting nervous

By GottaLaff

Hey chums! Want to join me in some fun? Check out how jittery the Tea Tantrumers are getting.

Via an e-mail, with the subject line: Urgent! Bailout Bob is at it again.

A message to all members of Tea Party Nation

Bailout Bob Corker, (RINO-TN) is at it again

The liberals have three major agendas they want passed this year. The first was health care, the second is financial overhaul and the third is cap and tax.

While the liberals were able to take over 1/6 of the economy with healthcare, they are now trying to take over the remaining 5/6 with "financial reform" legislation.

This bill, written by Chris "Countrywide" Dodd, is a permanent bail out of the financial sector. It provides for advance funding for government take overs of banks. Although Corker denies this, it is a permanent bailout.

Until now, all 41 Republican Senators had stood firm, providing a filibuster that the liberals could not break. Now, that is changing. Corker has been signaling his willingness to work with Chris Dodd. This bill does nothing for the American people. It will only allow the government to control even more of our economy.

Corker needs to hear from all of us, regardless of whether you live in Tennessee. Call his offices as soon as you can and tell him not to compromise with Chris Dodd, and not to support this "financial reform."

Nashville 615-279-8125

Knoxville 865-637-4180

Memphis 901-683-1910

Chattanooga 423-756-2757

Tri-Cities 423-323-1252

Jackson 731-424-9655

Washington DC 202-224-3344

Send this email to your friends and encourage them to call Corker's offices. The Obama/Pelosi/Reid axis of fiscal evil are on the move again and Bailout Bob Corker is the one vote that could stop this.

Call him today!

Republicans soften opposition to financial reform

By GottaLaff

Just when I thought the Party of No was trying to make financial reform hit a brick Wall St., I see they're maybe, possibly, kinda, sorta relenting a teeny weeny tad:

(Reuters) - Republican lawmakers on Tuesday took a more conciliatory tone toward Democratic proposals to crack down on Wall Street as the U.S. Senate delayed debate on a financial reform package until next week.

The change in rhetoric could signal the two sides are moving closer to a deal after months of wrangling over how to overhaul regulations in the wake of the financial crisis.

Senate Banking Committee Chairman Chris Dodd said lawmakers have reached agreement on 80 to 90 percent of the reform bill.

"We are all optimistic that this can be fixed," said Senate Republican Leader Mitch McConnell.

Good ol' reliable, reassuring Mitch McConnell, he's always been my go-to guy for hopey changey stuff.

Color me skeptical, but it's hard to believe the G No P softening on anything. Stalling, maybe. Kvetching, definitely. Obstructing, absolutely. Softening? Mmmmnotreally.

However, they may have finally realized how quickly and drastically America will turn on them should they continue to pal around with the very corpobots who transformed us into the United States of the Homeless.

Dow closes above 11,000 for first time since ’08

By GottaLaff

You realize what this means, don't you? President Obama is a socialist!

A loan agreement for Greece and a handful of corporate takeover announcements nudged the stock market higher. The Dow Jones Industrial Average closed about 11,000. [...]

Meanwhile, the latest round of corporate dealmaking signaled that business leaders are more confident about a recovery. [...]

The Dow is coming off its sixth straight weekly gain.

The Nasdaq composite index rose 3.82, or 0.16 percent, to 2,457.87.

What a shame big corporations are suffering under this president. And that Recovery Act, what a bomb!

Follow the link for details.

Home sales UP: Americans took advantage of a tax credit for home buyers

By GottaLaff

First we had the Amazing Bikini Graph, and now this new report. What will the Rushpublics have left to lie about?

The wobbly housing market is showing a rare sign of strength: pending home sales were up significantly in February, a report released Monday said, suggesting that Americans took advantage of a tax credit for home buyers.

Sales rose 8.2 percent in February, the National Association of Realtors said. Analysts had expected sales to stay flat.

Economists said Monday’s data suggested buyers were re-entering the market as the April 30 deadline approached for a government tax credit of up to $8,000. The tax credit drove up sales rapidly in the fall, when it was originally set to expire, but it has been slow to propel the market this spring.

Lawrence Yun, chief economist for the association, said Monday’s report “may signal the early stages of a second surge of home sales.”

Too bad George Bush still isn't in charge. Things would obviously be so much better.

Dear Rushpublic Party of No, Please do continue those obstructionist tactics in light of this news. It's working so well for you.

Love, Laffy

Stimulus attacks help Democrats gain first real traction in weeks

By GottaLaff

Traction? We got traction? How come nobody told me?

Congressional Democrats are celebrating what they say was their best week politically since Scott Brown’s victory in Massachusetts on Jan. 19.

After playing defense on the economy, the stimulus and healthcare for much of the past year, Democrats went on the offensive this week.

Now hold it right there. We went on the offensive. Mmmmm.

Give me a moment to savor that.

Democrats took advantage of the one-year anniversary of the passage of the economic stimulus package and a slow news week to blast Republicans for claiming credit for stimulus funds they opposed.

Short version: GOP = Hyp. O. Crites.

Now that's the kind of traction we can believe in.

Darrell West, director of Governance Studies at the Brookings Institution, said the hypocrisy message would resonate with voters more than the “Party of No” attacks.

I say, use 'em both. Hey, if the shoes fit...

Recovery Watch: Republicans Jeer While Analysts Cheer

By GottaLaff

Sometimes it's so darned difficult to grasp facts. Even obvious ones that show up in reports and charts and stuff. The Rushpublics remind us of that daily.

So, for the very simple among us:

The New York Times’ David Leonhardt:

“Perhaps the best-known economic research firms are IHS Global Insight, Macroeconomic Advisers and Moody’s Economy.com. They all estimate that the bill has added 1.6 million to 1.8 million jobs so far and that its ultimate impact will be roughly 2.5 million jobs [...] The Congressional Budget Office, an independent agency, considers these estimates to be conservative.”

The economy also expanded at an inflation-adjusted annual rate of 5.7 percent last quarter, much of which can be attributed to the stimulus package.

If that was too complicated for the GOP, they can go back and take another peek at the pretty picture above.

VIDEO- Rachel Maddow: "We are smack in the middle of an unprecedented abuse of the filibuster"

By GottaLaff

Visit msnbc.com for breaking news, world news, and news about the economy

Here's President Obama's track record:

President Obama set a new record last year for getting Congress to vote his way, clinching 96.7 percent of the votes on which he had clearly staked a position.

That was a bit less than 4 percentage points higher than the previous record, set by President Lyndon B. Johnson in 1965, according to an annual study by Congressional Quarterly.

Here's the GOP track record:

And if you need a reminder about Rushpublic hypocrisy, here's Rachel at her best.

PhotOh! Charting the economic recovery

By GottaLaff

Let's see how long it takes the right wing talkers to turn this upside down and backwards:

The red bars are the accelerating rate of job loss during President Bush's last year in office; the blue bars are the decelerating rate of job loss during President Obama's first year of office.

(click on image to enlarge)

A picture's worth 1,000... jobs.

VIDEO- Rachel Maddow Show: President Obama's accomplishments

By GottaLaff

Visit msnbc.com for breaking news, world news, and news about the economy

As I watched this last night, I wondered what kind of impact it would make. Is anyone else pointing out the upside of the Obama presidency yet?

Bueller?

"The recovery will not be jobless much longer."

By GottaLaff

Darn that President Obama and his silly stimulus/recovery plan! If it works, and if health care reform catches on, he'll ruin all the Rushpublic fun!

With a new employment report due Friday, Bloomberg reports economists believe the "worst U.S. employment slump in the post-World War II era may have almost ended in December, signaling the recovery will not be jobless much longer."

"Stimulus-driven gains in global demand mean American companies may need to start boosting payrolls in 2010 after eliminating 7.2 million jobs since the recession began in December 2007."

Curses. Foiled again.

November home sales soar 7.4 percent

Good news where you can get it.

WASHINGTON – Home resales surged to the highest level in nearly three years, reflecting an extraordinary level of federal support that has pulled the housing market back from the worst downturn since the Great Depression.

The National Association of Realtors says sales rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million in November, from a downwardly revised pace of 6.09 million in October.

Sales were 44 percent above last year's levels, a record jump. They had been expected to rise to an annual pace of 6.25 million, according to economists surveyed by Thomson Reuters.

Fed holds rates at record low to fuel recovery

By GottaLaff

Via an alert I just got:

The Federal Reserve has decided to hold interest rates at a record low and pledged to keep them there for an "extended period" to keep the recovery going and drive down double-digit unemployment.

But in a more upbeat assessment, the Fed says the economy has "continued to pick up" and that "deterioration in the labor market is abating," a nod to the recent slowdown in the pace of layoffs.

Much more here.

Treasury Projects Smaller Losses for TARP

By GottaLaff

The word "billions" is becoming nearly meaningless these days. It shouldn't, but it's thrown around so often and so freely, it's become the new "millions". And the number is so huge that it's nearly incomprehensible.

Additionally, the word "trillions" has made its way into daily convos lately. Now that's really incomprehensible.

So when I red the words "all but $42 billion", my first reaction is, "Oh wow, that's not so much!"... until I reset my relativity meter and realize that I'm happy if I have $20 in my wallet.

But in the scheme of things, this could at least end up in the I Think This is Positive News column:

The Treasury Department "expects to recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit," reports the New York Times.

"The report could tamp down some of the public anger directed against both parties over the bailouts. Congressional leaders are already planning to use some of the program's money for economic stimulus and job creation."

VIDEO: President Obama in Allentown, PA on strengthening the economy

By GottaLaff

Visit msnbc.com for breaking news, world news, and news about the economy

If you missed it this morning, my liveblog is here (including Q and A), and above is the video of his opening remarks.

Paul Krugman: "Things look better than I expected"

By GottaLaff

This is more encouraging than a lot of things I've read lately, because Krugman has been a recovery thumbs-downer for quite awhile. It's a little like comfort food after a bad day.

Before I get too carried away, he does offer the caveat that "looks can be deceiving", but still:

And I’m not sure what to make of it, but casual observation suggests a stronger recovery than anything I see in published numbers. Lots of small-scale construction — home remodeling, tear-downs replacing old houses. Many new businesses and restaurants filling storefronts that were vacant a couple of months ago. [...]

Still, there’s the observation: walking around, things look better than I expected.

Yum.

Video- President's Weekly Address: Working with Small Business to Drive Recovery

Summers to Boehner: Economy on Path to Recovery

By GottaLaff

Larry Summers slapped The Boehner upside the head. Subscription only, so here is a dollop of story:

White House economic adviser Lawrence Summers fired back at House Republicans on Monday with a lengthy — and positive — assessment of the Obama administration’s economic policies. In a letter to House Minority Leader John Boehner (R-Ohio), Summers said, “[W]e have walked a substantial distance back from the economic abyss and are on the path toward economic recovery.”

Oh come on. Anyone could have pulled us out of a mental recession. All it takes is a finger snap or two. I'm sure had J Sid McCain been elected, he would have performed miracles.

Where Was the Outcry? Special Comment by my 72-year-old friend

By GottaLaff

My very caring, impassioned 72-year-old Twitter pal, who goes by the name 42bkdodgr, would like to share his feelings about the hypocrisy, racism, and outright hostility of the -Ers, and I am more than happy to oblige.

I took the liberty of adding a couple of graphics.

Take it away, 42bkdodgr:

The Political Carnival recently posted an article titled “ Colorado Tea Party Organizer Issues Racist Threat To Fellow Blogger” which I read with great interest. Many of you know I detest racism in all forms from my previous special comments on The Political Carnival.

I found the racist threat made by Shaun Conley, a plumber in Johnstown Colorado, to be disgusting and reprehensible. What caught my interest was his ending comment, “You can’t spend your way to prosperity, and you can’t borrow your way out of debt. That’s what we’re trying to fight as a group” (tea baggers).

I ask Shaun and the “tea baggers” the following:

Where was the outcry when President George Bush took the budget surplus given to him by the Clinton Administration and used it up and substantially increased the National Debt?

Where was the outcry when President Bush took this country into an unjust war on misinformation that his administration provided Congress and the American people?

Where was their outcry when Bush Administration violated national and international laws... and our country lost the respect of the international community?

Where was the outcry when the Bush administration didn’t include the cost of the Afghan and Iraq Wars in the annual budget, but hid it under “supplementing spending”?

Where was the outcry when President Bush signed a prescription drug plan for the elderly without being able to pay for it?

Where was the outcry in 2005, when the budget estimate for the Medicare prescription drug plan would cost more than $1.2 trillion in the coming decade? That amount is larger than the $900,000 billion to $1 trillion dollars the Obama administration is estimating the Health Care Reform (HCR) will cost over 10 years, which will be fully funded.

Where was the outcry outrage when end-of-life provision for terminally ill people was included in the 2003 Medicare Drug Bill, that was overwhelmingly approved by the Republicans in Congress? Why are you then so concerned about the so called “death panel” inclusion in the proposed HCR bill?

From Conley’s remarks, you know he was surely against any stimulus plan, so he probably would have liked the banks, brokerage firms and auto companies to fail, throwing this country into a deep depression.

Maybe if these so called “tea baggers” would have been as vigilant during the Bush Administration, as they are concerned about the birth place of Obama, whether he is “one of us”, rather than engaging in mob rule to shut down real discussion at Town Hall meetings, this country would be in better shape today.

Great thanks again for another relevant, thought-provoking piece, 42bkdodgr. We need a gazillion more like you.

You never fail to make my day.