In his State of the Union address President Obama touted the "rebound" in the economy, taking credit for his administration’s policies in its recovery. He pointed to two years of job growth and the fastest job creation since 2005 but without putting such results in context.

Hey, look, it’s manna from heaven! If you lost your home to foreclosure, Barack Obama is going to see that you get a check for some 2,000 bucks. Free!  And not only that. If you still own your home but it’s worth a lot less than you owe on it, he’s got even better news for you. The President, in league with the nation’s attorneys general, has gotten the banks to agree to reduce what you owe.
 
 

JBS CEO Art Thompson's weekly video news update for February 20-26, 2012.

The Heritage Foundation reports that 20 percent of Americans receive some form of subsidy from the federal government. That means nearly 70 million Americans are on the dole, receiving housing, food, medical, or other assistance from the taxpayers, and well more than half the federal budget goes to direct assistance to individuals.


 
 

"Often wrong but never in doubt" is a phrase that summarizes much of what was done by Presidents Theodore Roosevelt and Woodrow Wilson, the two giants of the Progressive era, a century ago.


 
 

Economists polled by Reuters predicted that the recession in Europe that began late last year would continue into the new year and they weren’t disappointed. Reuters announced that economic output in the 17-member Euro zone declined by 0.3 percent in the last quarter of 2011, the sharpest since the second quarter of 2009 at the start of the recession. Those same economists are now predicting that European GDP growth will stay negative at least for the rest of the year with only modest chances of improvement in 2013.

 

Speaking  in Milwaukee on February 15, President Obama, re-ignited a controversy on "global taxation" set off by his top economic adviser during comments on the administration’s budget on Monday.  Gene Sperling, Assistant to the President for Economic Policy and Director of President Obama’s National Economic Council (NEC), caused a commotion this week with his statement that the Obama administration favors “a global minimum tax.” 

Adding to the growing list of failed "green" energy companies, another solar firm filed for Chapter 11 bankruptcy on Tuesday in hopes of selling off its solar power subsidiaries and other assets. Energy Conversion Devices Inc. (ECD), a Michigan-based manufacturer of thin-film solar laminates (product shown at left), said it will continue to operate through the bankruptcy and sale process.

 

A shave and a haircut will cost you more than two bits just about anywhere, but it’ll run you over two Hamiltons at the U.S. Senate barbershop — more than double what barbers in some parts of the country charge. Yet despite these high prices, the shop, which is supposed to be self-sustaining, ended up $300,000 in the hole last year and got its own taxpayer bailout, proving once again that government is incapable of performing even the smallest tasks cheaply and competently.

 

Although Barack Obama is the first black President of the United States, he is by no means unique, except for his complexion. He follows in the footsteps of other presidents with a similar vision, the vision at the heart of the Progressive movement that flourished a hundred years ago.

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