The American economy is in recession and according to Larry Kudlow, that is a cause for celebration. On Friday, the National Review regular and CNBC host praised three months of job losses as "an economic cleansing" and beamed that "recessions are therapeutic." And by all indications, Kudlow's prescription of an economic enema for the American […]

In the wake of the near-meltdown of the American financial system this week, economists are finally pointing the finger of blame at Alan Greenspan. As the Washington Post details, the former Fed Chairman once lauded as the "Maestro" is now facing withering criticism for helpful fuel the twin crises of the housing market and the […]

What a difference a week makes, especially when it comes to the rollercoaster American economy. No where is the impact of looming recession and the near-meltdown on Wall Street clearer than on the White House web site. Just days ago, the site boasted about President Bush's glorious stewardship of the U.S. economy. Now, the White […]

Timing, as they say, is everything. By that measure, John McCain is having a very bad day. First, just one day after his own visit to Baghdad, Vice President Dick Cheney showed up in Iraq to remind Americans that McCain is inextricably linked to President Bush. Then just as the Federal Reserve rushed into to […]

Just one week after his latest dismal failure to "jawbone" OPEC into boosting oil production, President Bush yesterday tried his hand at talking up the plummeting U.S. dollar. Sadly, just 24 hours later, the greenback plunged to record lows against the euro and the Japanese yen. Bush's Reverse Midas Touch, it seems, has now infected […]

In a stunning announcement Friday, the Pentagon skipped over Boeing and awarded a massive $40 billion contract for a new fleet of refueling tankers to a Northrop Grumman and European Aeronautics Defense and Space (EADS). While Air Force officials claimed the choice of the KC-45 tankers jointly developed by Grumman and Airbus' parent company was […]

In case panicked financial markets, rising unemployment, surging inflation and a credit crunch weren't enough cause for worry, Congressional Budget Office director Peter Orzag today added the mushrooming federal budget deficit to the mix. Coming as President Bush and Congressional leaders are conferring on a massive new economic stimulus package, the CBO estimated a $250 […]

While George W. Bush may be a recovering drinker, he apparently has now developed a gambling problem. Just 10 days into 2008, the Bush White House has placed big bets on everything from a Middle East peace treaty to the prospects for a U.S. recession, even his own popularity and legacy. Unfortunately, the odds are […]

As Perrspectives detailed here and here, the ever-charming GOP frontrunner and surprise Iowa winner Mike Huckabee is probably the most alarming extremist thrown up by either party in a generation. But while his most dangerous pronouncements involve his zealous determination to save souls for the next life, his radical tax proposals would surely impoverish them […]

On the campaign trail in Michigan on Saturday, GOP White House hopeful Mitt Romney announced his support for more seasonal visas for foreign workers laboring in tourism, agriculture and other sectors of the economy. As well he should. After all, Romney routinely hired illegal aliens to do the landscaping for his tony Boston area home. […]