Wednesday Morning News Roundup (Update)

US patent office is in bad need of reform.

Bachmann may be down but unfortunately, I don’t think that she should throw in the towel yet.

I think that President Obama needs to think big. He needs to go big. I would push him to go for a $1.5 trillion jobs package. Let the Republicans’ heads explode, to quote Cheney. He should take the package to the American people. He should say that an unemployment rate of 9.1% is criminal. We have to do better. We have to bring unemployment under 5% as quickly as possible. Rick Newman has a more middle of the road suggestion for the president.

I still think that Romney’s job proposal is laughable. There is nothing new. It is a continuation of what Bush started and that didn’t end so well for us. Well, before I completely trash it I should wait for some economists to come out with their thoughts.

We need to prepare for more costly disasters, not less. Eric Cantor, are you listening?

I know that Rick Perry has been bashing RomneyCare but a closer look is illuminating. 27% of Texans don’t have health insurance, whereas 5.3% of Massachusetts residents don’t have health insurance. I’m just saying.

Updates:

Texas Wildfires. Tons of problems in East Texas

Yesterday, the Texas Forest Service responded to 19 new fires for 1,490 acres, including new large fires in Red River and Rusk counties. In the past seven days, Texas Forest Service has responded to 172 fires for 135,051 acres.

An assessment has been completed on the Bastrop County Complex and 785 homes have been reported destroyed. An additional 238 have been reported lost on other fires in the past three days, for a total of approximately 1,023.

A significant number of aircraft have been mobilized to assist with the heavy fire activity. Six heavy airtankers, three 1,500-gallon scoopers, 15 single-engine airtankers, 12 helicopters, and 12 aerial supervision aircraft are in place. Eight National Guard Blackhawk and three Chinook helicopters have been providing critical aerial support. In addition, a 12,000-gallon DC-10 airtanker will be activated Friday morning at the Austin-Bergstrom Airport. This aircraft was instrumental in helping to contain Wildcat Fire in Coke County last April.

A Type I Incident Management Team is in place in Bastrop this morning and is assisting Texas Forest Service in managing the Bastrop County Complex. Additional Type 1 teams have been requested to assist with the large fires in Northeast and Southeast Texas.

Remember that Rick Perry cut funding for fighting wildfires.

If you are going to invest in government bonds, whose are the safest?

45-year-olds need to plan on retiring at age 70 – Rick Perry. What? Why retire then? Who will have the money? Let’s just retire when we are dead. Is that okay with you, Rick?

Did you catch the London speech of Chicago Fed Chair Charles Evans? Here’s a piece:

Suppose we faced a very different economic environment: Imagine that inflation was running at 5% against our inflation objective of 2%. Is there a doubt that any central banker worth their salt would be reacting strongly to fight this high inflation rate? No, there isn’t any doubt. They would be acting as if their hair was on fire. We should be similarly energized about improving conditions in the labor market.

This has been my point for over 12 months. There are too many Americans out of work. Both parties are acting as if there is something that they need to put up at the Dry Cleaners. It is important but …. Damn it. Millions of Americans are out of work. Let’s get to it. Let’s put Americans back to work. NOW!

Finally, just to prove that we aren’t the only nation that has really crazy people – we have been voted the “coolest nation.” Really? Who votes in that poll? When you look at Michele Bachmann, Ron Paul and Mitt Romney, do you think cool? Will Smith – cool. Lady Gaga – cool or odd? :-)