AK-47 plus crazed man equals chaos in Carson City, Nevada. Three people are dead. Seven people were wounded. The incident happened at an IHOP. My heart goes out to the victims and their families.
Presidential candidate Mitt Romney has unveiled his jobs plan. Cut the corporate income tax from 35% to 25%. Make the Bush tax cuts permanent. Eliminate taxes on dividends, interest and capital gains. Oh, just to top off this “jobs plan,” he would push for free-trade agreements with Colombia, Panama and South Korea. More drilling for oil. Where are the jobs in this jobs plan? This appears to be more of the same. Free-trade equals exporting jobs. This is simply a bunch of Republican gibberish and there are almost no jobs in here. I don’t see anything that would actually grow the middle class.
I’m not sure what’s going on in Libya. There seems to be a convoy of senior Libyan officials from the Qaddafi regime who have fled to Niger.
The chief of Yahoo has been fired. Yahoo, in my opinion, is an excellent example of a company that has needed executive leadership for more than 15 years. (I talked about Yahoo here.) Now, I think it’s too late to resuscitate the company.
Americans are smoking less. This is good. Now, if we could eat less and exercise more…
Rep. Tammy Baldwin announces that she’s running for the U.S. Senate in Wisconsin.
Now that Texas is fighting some of the largest wildfires in its history, I find it interesting that it was Rick Perry and his Republican friends who cut funding to fight fires.
One of the biggest drags on the economy is the fact that our economy over the last 15 years switched from manufacturing to housing. We started building tons of houses. Now that the housing sector has collapsed, we need something to take up the slack. The graph below shows construction payroll jobs. Notice a huge increase from the mid-’90s through 2007. How do we make up the slack? This is the problem. The only way that I know of to fix this is putting all of these construction guys back to work building schools and roads and fixing our infrastructure. This is something we can do now!