In an interview at a CNBC conference, Treasury Secretary Timothy Geithner blamed Europe for America's economic slowdown.
"The economy is definitely slower, Geithner said to host Larry Kudlow, according to a rush transcript. "Lower than it was the end of last year. Why is it slower? It's slower mostly because of the trauma from Europe, the after effects of the rise in oil prices earlier this year, and because government spending is actually falling now quite significantly. Those three things are a pretty significant drag on a recovery."
Yesterday, Jay Cost discussed President Obama’s problem with independents, noting that Obama started to lose independents by the truckload when the debate over Obamacare heated up and “has never won [them] back.” Today, a new Quinnipiac poll further highlights the extent of the trouble that Obama faces in this regard.
The Washington Post reports on newly released emails that reveal "the Obama administration urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections"
As President Obama travels around the country at taxpayer expense to peddle his newest stimulus proposal, his Council of Economic Advisors has yet to release its 8th Quarterly Report on Obama’s first stimulus — you know, the one that cost a cool $787,000,000,000.00. Perhaps this is just a coincidence.
Senate Majority Leader Harry Reid (D-Nev.) will be moving forward this week on a piece of President Obama's failed jobs bill--a $35 billion provision of state aid for education and first responders. But Reid told reporters today that some of the education money may not go to actually saving the jobs of teachers.
ABC News reports that during an interview with David Muir yesterday concerning President Obama’s $447 billion jobs bill, “Treasury Secretary Timothy Geithner didn’t dispute a Harvard economist’s estimate that each job in the White House’s jobs plan would cost $200,000, but said” — mysteriously —“the pricetag is the wrong way to measure the bill’s worth.”
Even as problems grow for Solyndra, the solar energy manufacturing firm that got a hefty stimulus-backed loan before going bankrupt earlier this month, the Department of Energy continues to issue large loans to companies.
Two big stories are out tonight on the blossoming scandal involving failed solar panel company and stimulus funds recipient Solyndra. First, the Washington Post reports that the White House pressured the Office of Management and Budget (OMB) to speed up the approval process for Solyndra's $535 million loan: