I don’t think it’s going to change the debate in Washington, because people are impervious to the evidence. The folks pushing austerity are going to push austerity no matter what the numbers say.

Pat Garofalo, assistant opinions editor for U.S. News & World Report: “Obama’s tax increases are actually bringing the deficit down”

The Congressional Budget Office is predicting a smaller deficit in 2013. Garofalo joined Viewpoint’s John Fugelsang to discuss why this positive news won’t have an impact on conservatives.

The sequester should make every congressperson apologetic because it was a nightmare that was created to say ‘you adults don’t have enough common sense to come together with a budget that you can agree to, but you’re going to have to. But if you don’t, then sequester will come and devour the economy and Americans — and all of you will be out of office.’ Guess what, the sequester has happened.

Rep. Charles Rangel (D-N.Y.): Americans are too tolerant of the sequester

Rangel, who serves on the House Ways & Means Committee, the Joint Committee on Taxation, the Congressional Progressive Caucus and the Congressional Black Caucus, joined “Viewpoint” host John Fugelsang to discuss what the American people can do to fix the damage done by the sequester.

On today’s Full Court Press, Bill brings in two heavy hitters - Stan Collender of Capital Gains and Games and Meredith Shiner from Roll Call - and asks what many people are asking (especially those looking for employment while the stock market hits highs): why aren’t we seeing job growth?

The S&P and the Dow both hit record highs last week, beating the previous record-breaking 2007 levels. Since President Obama has been in office the stock market has doubled.  But why is there such of a disconnect with job growth and the stock market? Is Congress tone-deaf over the economy? Collender says it’s because companies are “wringing out more work out of their employees.”

Confidence is important, but there is only so confident you can be if you don’t have a paycheck.
Jennifer Erickson of the Center for American Progress, Examining the psychology of economic recovery amidst sequester”

As the Dow hits new record highs, Bill Press chats with Former New York Governor Eliot Spitzer about how the average American is cashing in. Spitzer says this is great news for everybody who holds equity, but the problem is the average worker is still in a recession. Spitzer calls this a bifurcation of the economy that still needs to be overcome. Bill refers to an Atlantic article titled “Corporate Profits are Eating the Economy” where it shows there are still fewer workers now than at the start of the recession.

Before you cast your vote on Tuesday, make sure you know where President Barack Obama and Republican challenger Mitt Romney stand on the economy.

To show you what our hosts and their guests have to say about the candidates’ positions on taxes, job creation and other issues affecting the economy, we’ve rounded them up for you here.

At today’s Clinton Global Initiative Annual Meeting, Hillary Clinton stressed the need for greater taxation of the wealthy in order to spur growth. Read our blog for more: http://bit.ly/QdTTV4

At today’s Clinton Global Initiative Annual Meeting, Hillary Clinton stressed the need for greater taxation of the wealthy in order to spur growth. Read our blog for more: http://bit.ly/QdTTV4

cognitivedissonance:

Adam Weinstein of Mother Jones (and curator of their Tumblr) nails Sen. John McCain, R-Ariz. on jobs for veterans.

And I helped:

Senator John McCain—Naval Academy class of 1958, Vietnam prisoner of warhas long enjoyed a reputation as a straight-talking protector of the troops. But yesterday, he joined 39 Republican colleagues in blocking a bipartisan bill that would have provided federal jobs for up to 20,000 out-of-work ex-service membersand in doing so, he went back on a verbal promise he made to a veteran weeks ago.

Mother Jones has obtained exclusive audio of an interview McCain conducted with military vet and citizen journalist Meg Lanker-Simons at the Republican National Convention in Tampa last month. In the exchange, McCain said getting vets back to work was job No. 1. (The jobless rate for ex-service members is up to 31 percent higher than for civilians.) “The fact is, it’s a national disgrace that veterans’ unemployment is 14 percent,” McCain said. “That’s a national disgrace. And we’ve got to try to find more ways and better ways to hire veterans. And that has got to be our highest priority.”

You can listen to the full interview at the link. I interviewed McCain at a fundraiser for vets as just a softball-type thing for the Tumblr Election blog. I had to soften the background noise, and ultimately ran out of time to post it. Still held on to it and cleaned it up… I imagine his office wishes I didn’t. 

McCain has never been much of a friend to veterans, but rarely does he get caught this red-handed.

I regret nothing and thanks to Adam Weinstein and Mother Jones for exposing McCain’s hypocrisy yet again.

granholmtwr:

INFOGRAPHIC: What does $1 billion mean to the average American?
If your family makes $100,000, a $40 campaign donation is probably a drop in the bucket to you. For extremely wealthy donors like Sheldon Adelson, a donation of $10 million has the same impact on his net worth as your 40 bucks, but the gains for the recipient of Adelson’s dough, the Romney campaign, are significantly higher. And Adelson can afford to give again.
With donations to SuperPAC’s pouring in and rumors growing that big donors like the Koch brothers plan to spend a billion dollars on the upcoming election, we created a way to visualize exactly how much more influence those mega-donors have than the average Joe.

granholmtwr:

INFOGRAPHIC: What does $1 billion mean to the average American?

If your family makes $100,000, a $40 campaign donation is probably a drop in the bucket to you. For extremely wealthy donors like Sheldon Adelson, a donation of $10 million has the same impact on his net worth as your 40 bucks, but the gains for the recipient of Adelson’s dough, the Romney campaign, are significantly higher. And Adelson can afford to give again.

With donations to SuperPAC’s pouring in and rumors growing that big donors like the Koch brothers plan to spend a billion dollars on the upcoming election, we created a way to visualize exactly how much more influence those mega-donors have than the average Joe.