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Entries in Economy (186)

Friday
Oct162009

NRCC - Carol Shea-Porter's Stimulus Isn't Stimulating New Hampshire's Economy

New Hampshire Spends $430,000 of Taxpayer Dollars to Produce an Unimpressive 22 Jobs

Washington- With 15.1 million people out of work and a national unemployment rate of 9.8%, it’s painfully obvious that Carol Shea-Porter and her fellow Democrat colleagues’ failed stimulus has fallen short of the promises they once made. New Hampshire state officials report that $430,000 has been spent over the course of eight months, only producing a meager 22 jobs, paling in comparison to the 18,000 jobs lost in the past year alone. These staggering numbers only leave New Hampshire families to wonder: Where are the jobs that Democrats once promised?

President Obama promised to create or save 600,000 jobs by the end of the summer:

 “He also repeated an earlier promise to create or save 600,000 jobs by the end of the summer. Neither the acceleration nor the jobs goal are new. Both represent a White House repackaging of promises and projects to blunt criticism that the effects haven't been worth the historic price tag. And the job estimate is so murky, it can never be verified.” (Brett Blackledge and Matt Apuzzo, “Obama's Stimulus Promise: More Than 600,000 Jobs,” The Associate Press, 6/08/2009)

However, according to the Bureau of Labor Statistics, employment declined by 263,000 in September and job losses averaged 307,000 per month from May through September. Despite the numbers stacked against the stimulus, Democrats refuse to admit their failures:

 “Vice President Joe Biden delivered a rousing review of the government’s economic stimulus plan in a conversation with the nation’s governors. ‘In my wildest dreams, I never thought it would work this well,’ he said. ‘Thank you, thank you.’” (Elizabeth Williamson, “Biden on Stimulus: ‘Never Thought It Would Work This Well’,” The Wall Street Journal, 9/24/2009)

 “After giving a free pass to spend $430,000 of New Hampshire taxpayer money with little to show for it, Carol Shea-Porter's failed stimulus has led to nothing more than a jobless recovery,” said NRCC Communications Director Ken Spain. “Despite numerous promises from Congressional Democrats, there are still 15.1 million Americans out of work. After wasting taxpayer dollars to produce an unimpressive 22 jobs in New Hampshire, middle-class families are still asking one thing: Where are the jobs?”

Carol Shea-Porter and her Democrat colleagues’ failed promises have driven an already-struggling economy further into the ground, wasting billions of taxpayer dollars in the process. Will she wake up? Or will New Hampshire voters have to force her to do so next November?

(Source: www.recovery.gov)

 

Wednesday
Oct142009

Daily Grind: The Panic Bloom 

The Panic Bloom
Is the U.S. economy in the midst of a healthy recovery, or is this the one last batch of healthy shoots before it wilts?

And They All Said, "Amen"
A special message from the Heavenly Host Committee to name Obama, "God."

Chronic Depression
With recoveries like this, who needs recessions?

 

Wednesday
Oct142009

CEI - Nobel Economics Prize Recognizes Success of Liberty 

Statement by Fred L. Smith, Jr., President of the Competitive Enterprise Institute

 

Washington, D.C., October 13, 2009- The Nobel Prize for Economics was awarded Monday to two economists whose work focused on the success of institutions of liberty.

Statement by Fred L. Smith, Jr., President of the Competitive Enterprise Institute 

Awarding the Economics Nobel Prize in Economics to Elinor Ostrom and Oliver Williamson is a brilliant choice. Their work follows the lead of Ronald Coase (himself a Nobel laureate), who showed that the institutions of liberty extend beyond the market concepts of buying and selling.

Williamson, like Coase, sought to understand the reasons why firms take on the structures that they do. His work is a welcome warning of the dangers that overzealous antitrust regulators can pose to economic growth.

Eilinor Ostrom’s work has focused on the ways in which traditional societies manage commons. Her work makes clear that property rights evolve in response to scarcity. 

CEI’s work on environmental and competition policy relates closely to the works of both these award recipients. Congratulations to both! >Read the full statement on OpenMarket.org.

 

Wednesday
Sep302009

Mercatus Center - New Podcast: Economic Trends in the States with Bruce Yandle 

This week on the Inside State and Local Policy Podcast: Economic Trends in the States with Dr. Bruce Yandle, Dean of Clemson University's College of Behavior Sciences and Professor Emeritus in the College of Economics and Mercatus Center Distinguished Scholar. In this podcast Dr. Yandle discusses:

Signs of the recession ending
Unemployment outlook in the US
What states will be the leaders in pulling us out of recession
Explanation of the new knowledge economy
Migration trends between states and the causes for movement between states

 

To learn more and listen to other episodes, visit our website at:  http://insidestateandlocalpolicy.mercatus.org.

 

Also, check out last week's podcast: Can New Jersey Reverse Course?

 

This podcast is a product of the Mercatus Center at George Mason University.  The Mercatus Center is an economic research center based in Arlington, Virginia.  The mission of the Mercatus Center is to promote sound interdisciplinary research and application in the humane sciences that integrates theory and practice to produce solutions that advance in a sustainable way a free, prosperous, and civil society.

 

Friday
Sep182009

Manchester seen as an economic leader during recession 

MANCHESTER (September 17, 2009) – In just nine months, Manchester has been cited by various publications for its economic development, its responsible fiscal philosophy and its favorable quality-of-life.

 

September 2009: National Geographic Adventure magazine names Manchester one of three U.S. cities as a “recession-buster,” saying that, “(O)ld mills have been refurbished into small businesses, while big players such as TD (Bank), Citizens Bank, and Elliot Hospital employ thousands. The river town claims one of the lowest unemployment rates in the nation.” (adventure.nationalgeographic.com/2009/10/best-places-to-live/washington-dc-text/1)

 

July 2009: Forbes Magazine released its list of “America’s 100 Cheapest Places to Live” list, and Manchester came in Number 1. The magazine said, “Among the U.S. cities with the most affordable housing and lowest cost of living, the Queen City offers the best combination of safety, employment opportunity and general quality of life.”(www.forbes.com/2009/07/13/cheap-cities-property-lifestyle-real-estate-cheap-places.html)

 

March 2009: Kiplingers.com noted that Manchester was the No. 2 tax-friendly city in the nation; a story that was featured on the front page of Web sites like Yahoo! and others. “New Hampshire’s favorable tax structure and Manchester’s proximity to Boston makes it an attractive residence for flinty New Englanders” (finance.yahoo.com/taxes/article/106691/Top-10-Tax-Friendly-Cities)

 

March 2009: Business NH Magazine did a roundtable on Manchester, where it declares that Manchester is taking itself to a new level. “Even during the troubled economy, major building projects have been moving forward in Manchester…Some companies are even finding opportunities due to the down economy.” (http://millyardcommunications.com/index.php?src=news&srctype=detail&category=News&refno=582)

 

January 2009: Northeast Real Estate News did a feature story on the city, in which it noted the ongoing projects going on in the city. “Manchester, New Hampshire boasts not only a superior quality of life for its residents …but it also offers a superb business environment.” (www.northeastrebusiness.com/articles/ JAN09/cover2.html)

 

December 28, 2008: The Cape Cod Times did a feature story on Manchester’s youth movement, and said that the “more than 100 restaurants, 20 bars and dozens of retail shops, museums and art galleries, among other attractions” were part of the reasons Manchester continues to draw young workers. It also said that “(A)n influx of young workers and families in recent years has meant a sort of rebirth for the city, the Granite State’s largest.” (www.capecodonline.com/apps/pbcs.dll/article?AID=/20081228/ NEWS/812280335)