3:20 PM, Aug 28, 2014 • By MICHAEL WARREN
At the Washington Post, Christopher Ingraham demonstrates through one chart "why it feels like the recession never ended." Here's the chart, with part of Ingraham's explanation below:
From the start of the recession in 2007 to today, the average price of the things you buy - clothes, food, housing - has risen by 15 percent. This, in itself, isn't a problem at all. The problem is that wages haven't kept pace with that increase. In fact, for all but the top wage earners, real (inflation-adjusted) earnings are actually down over the same period.
Let's put it another way. Say that you're a median wage earner, right in the 50th percentile. And let's say that in 2007 you could buy a week's worth of groceries for $100. Fast forward to today: those exact same groceries cost $115, but you only have $112 dollars in your pocket.
Read all of Ingraham's post here, in which he also points out that pessimism about the permanence of the Great Recession is up.
Not many candidates for office, Republican or Democrat, have made an argument about how to solve the problem of price inflation and stagnant wages. This, despite the political opportunity demonstrated by a recent poll that found 75 percent of Americans are concerned about inflation. But at least one candidate for Senate, Republican Jeff Bell of New Jersey, senses an opening.
“No one in Washington wants to talk about the cause of this problem -- least of all my opponent, Cory Booker," said Bell in a statement responding to the Post article. "I am running for U.S. Senate because I know the cause of this problem and I have the solution. The reason why goods are more expensive but wages are being crushed is because of the Federal Reserve’s zero interest rate policy. My solution is to restore the value of the dollar by tying the dollar to gold. This will reign in the Fed and curb inflation, while bringing jobs and growth back to the economy."
As Andrew Ferguson writes in the current issue of THE WEEKLY STANDARD, Bell has so far focused his entire campaign against Booker on the Democrat's implicit support for the Federal Reserve's monetary policy. And on Wednesday, the Bell campaign released its first ad, a 30-second radio spot, touting his plan to return to the gold standard. You can listen to the ad here, which is running on two New York radio stations.
Or does it?7:14 AM, Aug 27, 2014 • By MICHAEL WARREN
Do Washington Republicans smell blood in New Jersey? The National Republican Senatorial Committee, the GOP's Senate campaign apparatus, issued a press release Wednesday knocking New Jersey's Democratic senator Cory Booker for being a "tax & spend liberal."
The release groups Booker with another incumbent Democrat, Alaska's Mark Begich, as two former mayors (of Newark and Anchorage, respectively) with liberal records. Here's an excerpt:
Majority don't trust Fed to fix it.1:01 PM, Aug 25, 2014 • By MICHAEL WARREN
Things are getting more expensive, and the American people know it. A new poll from Rasmussen Reports found three-quarters of Americans say they are concerned about inflation, with 81 percent saying they are paying more for groceries and 71 percent saying they expect to pay even more for groceries a year from now. Here's more:
Jeff Bell’s unorthodox Senate campaign. Sep 1, 2014, Vol. 19, No. 47 • By ANDREW FERGUSON
"Welcome to our campaign headquarters,” Jeff Bell said to an out-of-town reporter the other evening, standing in the lobby of a convention hotel here, hard off the Interstate. He wasn’t kidding: This is indeed the headquarters of the Jeff Bell for U.S. Senate campaign, for the moment anyway. He could do worse. The lobby is airy and spacious, the bathrooms are clean and commodious, and the location can’t be beat.
1:44 PM, Aug 8, 2014 • By MICHAEL WARREN
At National Review Online, Eliana Johnson has a piece documenting many of the unanswered questions about the life and career of New Jersey senator Cory Booker. Johnson provides this example for how the Democratic senator's stories about himself don't always add up:
3:51 PM, Aug 6, 2014 • By MICHAEL WARREN
Republican challenger Jeff Bell trails incumbent New Jersey senator Cory Booker by just 10 points, according to a new poll from Quinnipiac. Among registered voters in the Garden State, just 47 percent say they support Booker, the Democrat who won a special election to the Senate last fall and is running for a full term. At 37 percent support is Bell, a conservative activist who was the GOP nominee for Senate in 1978.
8:41 AM, Jun 24, 2014 • By MICHAEL WARREN
In a new editorial, the New York Post notes the odds are stacked against New Jersey's Jeff Bell, the Republican challenger to incumbent Democratic senator Cory Booker:
Booker has a war chest of $2.9 million, against a mere $76,000 for Bell. Booker is a Democratic incumbent running in a mostly blue state where Democratic voters outnumber Republicans by 700,000. And according to a recent Rassmussen poll, 39 percent of New Jerseyans don’t even know who the heck Jeff Bell is.
5:15 PM, Jun 19, 2014 • By MICHAEL WARREN
Democratic senator Cory Booker of New Jersey won a special election last November with 55 percent of the vote, but the former mayor of Newark is now under 50 percent against a little-known Republican challenger, according to a new poll. Rasmussen Reports finds in a survey of likely voters in New Jersey that Booker has 48 percent support over Republican nominee Jeff Bell, who has 35 percent support. Thirteen percent remain undecided.
12:18 PM, Oct 17, 2013 • By JEFFREY BELL
In his concession speech to Senator-elect Cory Booker in Bridgewater, N.J., on election night, Steve Lonegan announced that he would retire from elective politics and enter private business, rather than mount another U.S. Senate race against Booker next year or return to his post as New Jersey director of Americans for Prosperity, a high-profile position he held from 2007 until mid-2013. Whether or not he holds to this withdrawal, conservatives not just in New Jersey but the nation owe Lonegan a debt of gratitude for the underfunded yet exciting campaign he waged, and what it suggests for the future of Republican politics.
9:43 PM, Oct 16, 2013 • By MICHAEL WARREN
Cory Booker, the Democratic mayor of Newark, has defeated Republican Steve Lonegan in New Jersey's special election for the U.S. Senate Wednesday night. The Associated Press called the race for Booker just after 9:30 pm.
With 58 percent of precincts reporting, Booker leads Lonegan in the vote, 56 percent to 43 percent.
12:44 PM, Oct 8, 2013 • By GEOFFREY NORMAN
Cory Booker is this political season's designated superman. The stuff of legend. Kind of guy who hangs out with Matt Damon and Ben Affleck. Does all the cool digital stuff, like tweeting. (Can you believe it?) A natural. And so forth.