Rove: Repubs have given Obama a silver platter

[accuratehorn]

Republicans caved in, as they had to do. It was completely obvious they had no chance on this one. I hope the middle class remembers the attempt to screw them come election time.

 

[brntorng]

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[I35]

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[Horn6721]

Come on now
Who is so stupid as to think a 60 day extension is better than a 12 month extension which is what the house GOP was fighting for.

the silly lame attempts by some on here to say this was a better deal must think people are stupid.
well maybe the ones who think 60 days is better than 365 days are.

 

[ShinerTX]

I'm upset that the R's caved in on this one, but this was a really minor issue. There are much bigger fish out there that won't get fried due to the huge leadership void in Washington.

 

[Roger35]

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[ShinerTX]

Unfortunately during the Obama administration payroll tax cuts benefit fewer and fewer people.

 

[Satchel]

U.S. November Leading Economic Indicators [/b

By Editor: Alex Tanzi - Dec 22, 2011 9:29 AM CT

Following is the text of the U.S. leading economic indicators from the Conference Board.

Next month’s release will incorporate benchmark revisions to the composite indexes. The indexes are updated throughout the year, but only for the previous six months. Every January, data revisions that fall outside of the moving six-month window are incorporated when the benchmark revision is made and the entire histories of the indexes are recomputed. As a result, the revised indexes and their month-over-month changes will no longer be directly comparable to those issued prior to the benchmark revision.

The Conference Board Leading Economic Index for the U.S. increased 0.5 percent in November to 118.0 (2004 = 100), following a 0.9 percent increase in October, and a 0.1 percent increase in September.

Says Ataman Ozyildirim, economist at The Conference Board: “November’s increase in the LEI for the U.S. was widespread among the leading indicators and continues to suggest that the risk of an economic downturn in the near term has receded. Interest rate spread and housing permits made the largest contributions to the LEI this month, overcoming a falling average workweek in manufacturing, which reversed its October gain. The CEI also rose on improving employment and personal income although industrial production fell in November.”

Says Ken Goldstein, economist at The Conference Board: “The LEI is pointing to continued growth this winter, possibly even gaining momentum by spring. For the second month in a row, building permits made a relatively strong contribution and there is a chance that the long decline in housing is finally slowing. However, this somewhat positive outlook for the domestic economy is at odds with a global economy that appears to be losing steam. In particular, a deeper-than-expected recession in Europe could easily derail the outlook for the U.S. economy.”

About The Conference Board Leading Economic Index (LEI) for the U.S.

The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component -- primarily because they smooth out some of the volatility of individual components.

The ten components of The Conference Board Leading Economic Index for the U.S. include:
Average weekly hours, manufacturing

Average weekly initial claims for unemployment insurance

Manufacturers’ new orders, consumer goods and materials

Index of supplier deliveries - vendor performance

Manufacturers’ new orders, nondefense capital goods

Building permits, new private housing units
Stock prices, 500 common stocks
Money supply, M2

Interest rate spread, 10-year Treasury bonds less federal funds
Index of consumer expectations

For full press release and technical notes:
The Link

For more information about The Conference Board global business cycle indicators:
>The Link

 

[Namewithheld]

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[Bevo Incognito]

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[ShinerTX]

A federal Budget. Hell of a concept.

 

[Roger35]

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[Bevo Incognito]

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[ShinerTX]

So why don't we have a federal budget?

Because there's no leadership in Washington.

 

[MaceHorn]

Back on topic, perhaps the Rs have given The President a silver platter. But, if their eventual nominee can come close enough, perhaps the SCOTUS will decide in the Rs favor. Again.