Just 49 percent of homeowners in America now believe their home is worth more than they paid for it. Rasmussen Reports has asked that question for years, and it has never before fallen below the 50 percent mark. This represents a sea change in personal finances that challenges core assumptions about the way our economy works.
Lavishly paid executives have a new 1 percent number to ponder. It's not about their perch on the top branch of U.S. incomes. It's the lousy 1 percent rise in Citibank's quarterly revenues, which helped prompt the bank's stockholders to reject CEO Vikram Pandit's $15 million pay package. That they were earning a meager 1-cent-a-share quarterly dividend did not improve their mood.
A cornerstone of capitalism is that by richly rewarding successful managers who build up businesses, we all prosper. That makes sense but for one thing: Corporate America has learned to fix the game so that their honchos walk away with fortunes, whether their companies do well or not.
Some 20 million Americans in primaries and caucuses will take part in selecting the Republican presidential nominee. One person will choose the vice presidential nominee.
This has long struck me as absurd: One person choosing someone who, as a result, might become president for as long as 10 years. But just about everyone in politics says it's the only proper way.
Over the last 25 years, presidential nominees of both parties have engaged in conscientious consultation and have mostly made pretty good choices. No more picks at five o'clock in the morning to meet a convention deadline.
We spend too much time waiting for orders -- and money -- from Washington.
To quote "Adelaide's Lament" from "Guys and Dolls," "You can feed her all day with the vitamin A and the bromofizz/ But the medicine never gets anywhere near where the trouble is." That's the sense one gets from the recent tone-challenged courting of women voters.
How much will Obamacare -- call it the Patient Protection and Affordable Care Act if you like -- cost over the next 10 years?
More than you've been led to believe, reports Charles Blahous of George Mason University's Mercatus Center. To be specific, he projects it will add $1,160 billion to net federal spending over the next 10 years and at least $340 billion to federal budget deficits in that time.
Blahous was appointed by Barack Obama as one of two public trustees of the Social Security and Medicare programs. He worked on these issues in George W. Bush's administration and submitted his Mercatus paper for anonymous peer review.
Animal rescue once sent me a fabulous mutt. She was usually obedient and heartbreaking in eagerness to please. But I couldn't get her into the basement. I'd go down the stairs waving an entire bag of treats. With a pained look of indecision, she would not follow. During an earlier life, clearly, bad things had happened to her in a cellar.
Any doubt that Mitt Romney would win the Republican presidential nomination vanished when Rick Santorum left the race. It also marked the end of Romney's time as the defining figure in the overall contest for the White House.
Now that Rick Santorum has "suspended" his campaign, we can stop pretending and can say what has been clear for weeks: Mitt Romney will be the Republican nominee for president. The general election campaign has begun.
In some quarters, it is assumed that Barack Obama will be re-elected without too much difficulty. There are reports that staffers at Obama's Chicago headquarters consider Romney's candidacy a joke.
One suspects the adults there take a different view. For the fundamentals say that this will be a seriously contested race, with many outcomes possible. Obama's job-approval numbers in the realclearpolitics.com average of recent polls hover at 48 percent positive, 47 percent negative. That's on the cusp between victory and defeat.
When George W. Bush made his first public appearance in many months to discuss economic policy in New York on Tuesday, his utterances may have revealed more than he intended. "I wish they weren't called the 'Bush tax cuts,'" he said of the decade-old rate reductions that bear his name. But does he really believe, as he seemed to suggest, that Americans want to let those cuts expire from a desire to spite him? Or is there a deeper Bush somewhere within who would prefer not to be associated with fiscal profligacy and ideological overreach?
I'm suspicious of superstitions, like astrology or the belief that "green jobs will fix the environment and the economy." I understand the appeal of such beliefs. People crave simple answers and want to believe that some higher power determines our fates.
The most socially destructive superstition of all is the intuitively appealing belief that problems are best solved by government.
Opinion polls suggest that Americans are dissatisfied with government. Yet whenever another crisis hits, the natural human instinct is to say, "Why doesn't the government do something?"
The most dreadful disasters make us wonder how we would respond were we in the middle of it. That's especially true of those events that slowly evolve from concern to horror. On the Titanic, almost three hours elapsed between the thud of the iceberg and the final plunge into the icy Atlantic.
Time for a postmortem on the race for the Republican presidential nomination. Yes, I know Ron Paul and Newt Gingrich are still out there saying interesting things. And that Rick Santorum says it's only halftime and argues he can somehow overtake Mitt Romney by carrying his home state of Pennsylvania.
How many times have you heard Barack Obama talk about "investing" in education? Quite a few, if you've been listening to the president at all.
As Mitt Romney assumes the role of presumptive Republican nominee, polls suggest a competitive general election matchup between the former Massachusetts governor and President Obama. Typically, both candidates poll in the mid-40s, while 10 to 12 percent remain uncommitted to either side.
How the Supreme Court majority will rule on President Obama's Affordable Care Act may well have been foretold months or perhaps years ago -- not so much by their questions during argument this week, as by their flagrant displays of bias outside the court, where certain justices regularly behave as dubiously as any sleazy officeholder.
Imagine that. Former Republican President George H.W. Bush recently bought his son Neil a Chevrolet Volt as a birthday present. This is the car that all right-thinking right-wingers demand we hate. In their political prism, the Volt has everything going against it: It's beloved by environmentalists for getting 61 miles to the gallon. It's assembled by unionized workers at General Motors' Detroit-Hamtramck plant. It enjoys government subsidies intended to encourage the production of fuel-efficient cars (started actually by H.W.'s oldest son, former President George W. Bush).
Pssst. Want to buy some Stossels? They’re my own currency with my face on them. Why should you trust them? Because I promise to redeem them for gold. And I’m reliable. I have money in the bank and a job that brings in more than I spend.
"I don't worry about the Constitution," said Rep. Phil Hare, Democrat of Illinois, at a town hall meeting where voters questioned his support of the legislation that became Obamacare. You can find the clip on youtube.com, where it has 462,084 hits.
During the War of 1812, Commodore Oliver Hazard Perry whipped the British in the famous Battle of Lake Erie. Nearly 200 years later, winning Lake Erie won’t suffice for Democrats seeking to reclaim the House; they need to win on the shores of all five Great Lakes.
Now that decennial redistricting is nearly over, we have a relatively complete picture of where and how the race for the House will be run. While there are hotspots all over the country, the key region that will determine future control of the House is a combination of the Midwest and the Northeast — the eight states that touch the Great Lakes: Indiana, Illinois, Michigan, Minnesota, New York, Ohio, Pennsylvania, and Wisconsin.
