Brian Riedl: Obama’s Fantasy Jobs – NYPOST.com

Last year, White House economists claimed that the $862 billion stimulus would create 3.3 million jobs. Since then, the nation has lost more than 3 million jobs. That’s a 6.3 million jobs gap. By the White House’s own standards, the stimulus failed. So President Obama has shifted his argument. Sure, the economy lost jobs, he […]

Budget Deficit to Reach $1.35 Trillion for 2010 – WSJ.com

Congressional experts pegged the 2010 U.S. budget deficit at $1.35 trillion, a slight improvement from the $1.38 trillion estimate in August, but the overall picture of the government’s finances remains bleak, according to the annual report released Tuesday. The Congressional Budget Office said the government will run an aggregate deficit of almost $6 trillion during […]

Recovery not as strong as previously thought – AP

The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought. However, all signs suggest the economy will end the year on stronger footing.The Commerce Department’s new reading on gross domestic product for the July-to-September quarter was slower than the 2.8 percent […]

Reihan Salam: How ‘Avatar’ gets capitalism wrong – Forbes.com

For the last 200 years, humans have grown taller, stronger and healthier. This progress has been fastest in the countries that gave rise to the Industrial Revolution, yet it has spread throughout the world, sparking a transformation that economists Robert Fogel and Dora Costa call techno-physio evolution, “a synergism between technological and physiological improvements that […]