Obama's Island

How Does One Get Reelected with this Economy?


There’s just no longer any way to spin this. There is no reason why the economy should not be picking up after three and a half years of the Obama presidency. Unless the problem is the Obama presidency.

You can do all the micro-targeting, all the get–out-the-vote efforts, and all the demonization of your opponent that you want. But unless it turns out that Romney spent his weekends during the 1980s robbing banks and loan sharking, I just don’t see how Obama gets reelected.

Perhaps the only thing that can save Obama would be a dramatic external event, like war with Iran or a terrorist attack, which causes the country to rally around the president. It could happen.

The interesting thing about the slowing economy is the cause: Businesses and consumers don’t want to spend. They are uncertain. And that’s Obama’s fault.

Japan's government could run out of cash by October

By Stanley White |


TOKYO (Reuters) - Japan's government could run out of money by the end of October, halting all state spending including salaries, pensions and unemployment benefits, because of a standoff in parliament that has blocked a bill to finance the deficit.

The deficit financing bill, which would allow the government to sell bonds needed to fund almost half of the budget, has languished in parliament as the ruling Democratic Party tussles with opposition parties that can use their control of the upper house to reject legislation.

"Without this bill, the budget will collapse," Finance Minister Jun Azumi said on Friday, pleading for cooperation from the two largest opposition parties.

"It doesn't matter which party is in power. I really hope that we can get a multi-partisan agreement on the deficit bill."

If the bill is not passed, government spending would grind to a halt, the world's third-largest economy would be put in jeopardy and its standing among credit ratings agencies could suffer.

Valerie Jarrett: Unemployment Stimulates the Economy

White House senior adviser Valerie Jarrett has adopted a stance on unemployment that is sure to infuriate many, arguing that it stimulates the economy because people who receive unemployment checks are going out and spending them, reports The Weekly Standard.

“Even though we had a terrible economic crisis three years ago, throughout our country many people were suffering before the last three years, particularly in the black community. And so we need to make sure that we continue to support that important safety net.

"It not only is good for the family, but it’s good for the economy,” Jarrett argued during a speaking engagement at North Carolina Central University in Durham, North Carolina.

“People who receive that unemployment check go out and spend it and help stimulate the economy, so that’s healthy as well,”

Something to think about, right or wrong, to be, or not to be? Paying out money we don't have, to people who are not working, is a good thing. Would like to hear your comments and opinions on this subject.