QUOTE OF THE DAY
Politico: 75% support support term limits for members of Congress
Three out of four Americans support term limits for members of Congress, a new poll finds.
According to a Gallup survey posted Friday, 75 percent of adults nationwide back term limits for members of both the House and the Senate, while 21 percent say they would vote against term limits. Term limits received bipartisan support in the poll: Republicans would back such a measure 82-15 percent; independents would do so 79-17 percent and Democrats favored term limits 65-29 percent, even as most incumbents won their races again in November, Gallup noted.
Washington Post: As manufacturing bounces back from recession, unions are left behind
Last July was a good month for factory workers in Anderson, Ind., where a Honda parts supplier announced plans to build a new plant and create up to 325 jobs. But it was a grim month in the Cleveland suburbs, where an industrial plastics firm told the state of Ohio it was closing a plant and laying off 150 people.
Nearly all of the Ohio workers belonged to a labor union. Workers at the Indiana plant donít. Their fates fit a post-recession pattern: American factories are hiring again, but theyíre not hiring union members.
CNBC: For Americans, 'Cope' Has Replaced 'Hope'
President Barack Obama approaches his second inauguration amid persistent public resignation about the tepid economic recovery and a widespread belief that Washington's budget fights have made things worse.
The latest NBC News/Wall Street Journal poll shows that just 34 percent look at 2013 as a moment of economic expansion and opportunity; fully 60 percent call it a moment "to hold back and save because harder times are ahead."
Just 36 percent express significant confidence that Obama, after four years in the Oval Office, has the ability to produce a strong and growing national economy.
Investor's Business Daily: Texas A Model State For Dynamic Job And Economic Growth
The American economy has had little to cheer about since the 2008 financial meltdown and the resulting recession. Recovery has been feeble, and many states continue to struggle. One bright spot in the general gloom, however, is Texas, which began shining long before 2008.
Not only has Texas created jobs at a stunning rate; it has also ó pace critics such as the New York Times' Paul Krugman ó created lots of good jobs. Indeed, the rest of the nation could turn to the Lone Star State as a model for dynamic growth.
Texan job creation has far outpaced the national average. The number of jobs in Texas has grown by a truly impressive 31.5% since 1995, compared with just 12% nationwide, according to Bureau of Labor Statistics data. Texas has also lapped California, an important economic rival and the only state with a larger population.
Tax Foundation: Governor Jindal's Bold New Tax Plan By The Numbers
His goal is to eliminate the corporate income tax, the individual income tax, and the franchise tax. Details are still a bit scant, but according to initial reports and some conversations Iíve had with people on the ground in Louisiana over the past few weeks, the plan is to pay for this tax elimination by expanding the sales tax base to services and raising the rate on that tax.
Pethokoukis: USA Inc.ís balance sheet
This is the balance sheet from hell. And not a great fiscal legacy for Timothy Geithner. From the U.S. Treasury Departmentís just-released† Financial Report of the U.S. Government for Fiscal Year 2012: Assets $2.7 trillion, Liabilities $18.8 trillion
Sovereign Man: Does this look like a picture of recovery?
A few years ago back when I used to watch an occasional bit of television, I would always have an internal debate with myself: which was more funnyĖ Comedy Central, or CNBC?
It was always a toss-up. One channel has talking puppets. The other has Steven Colbert. Both are satires of our bizarre reality.
These days it seems financial media has surged ahead in this contest, rolling out one expert guest after another to beat a steady drum that economic recovery has settled on terra firma.
Now, Iím an optimistic guy... and there are plenty of good news stories around the world. But just looking at the numbers, itís clear that there is a major disconnect between sentiment and reality.
On one hand, western governments and mainstream media sources tell people that their economies are recovering and moving forward. Sentiment is high, confidence is growing.
CARTOON OF THE DAY