The purpose of this blog is to serve as a quick reference to political and economic data presented primarily in graphical format, with tables and other charts where appropriate. Use the search box to quickly locate the data you are seeking. Go Dems!
Saturday, August 11, 2012
Romney Chooses The Flimflam Man
Friday, August 10, 2012
Bill Moyers Essay: Everyone Should Be Entitled to Medicare
“Bill shares his thoughts on the 47th anniversary of Medicare -- the apex of Lyndon Johnson's ambitious vision for America. Bill was a key Johnson aide as they developed Medicare and pressed Congress to pass it. How to save Medicare today? The answer, says Bill, is obvious: make it available to every American.”
“On the other side, actor Ronald Reagan, still in private life, had signed on as the American Medical Association's hired spokesman in their campaign against Medicare. Doctors' wives organized thousands of small meetings in homes around the country, where guests listened to a phonograph record of Reagan deploring the evils of "socialized medicine":
"Behind it will come other Federal programs that will invade every area of freedom as we have known it in this country [...] until one day, as Norman Thomas said [...] you and I are going to spend our sunset years telling our children and our children's children what it once was like in America when men were free."
But now, it was Lyndon Johnson's turn. Tragically thrust into the White House by Kennedy's assassination, LBJ, the son of Franklin Roosevelt's New Deal and Harry Truman's Fair Deal, vowed to finish what they had started. He pushed us relentlessly to get it done. Here he is talking to his Vice President, Hubert Humphrey, in early March of 1965:
"They are bogged down. The House had nothing this week, all ---damn week. Now that's where you and Moyers and Larry O'Brien have got to find something for them. And the Senate had nothing [...] so we just wasted three weeks [...] Now we are here in the first week in March, and we have just got to get these things passed [...] I want that program carried. And I'll put every Cabinet officer behind you. I'll put every banker behind you. I'll put every organization we got behind you [...] I'll put the labor unions behind you."
About all he had left was the White House kitchen sink, and pretty soon he threw that behind us, too.
Later that March he called me to talk about a retroactive increase in Social Security payments that we were supporting. I had argued for it as a stimulus to the economy. LBJ said okay, but reminded me that social security and Medicare were about a lot more than economics:
"My inclination would be [...] that it ought to be retroactive as far back as you can get it [...] because none of them ever get enough. That they are entitled to it. That that's an obligation of ours. It's just like your mother writing you and saying she wants $20, and I'd always sent mine a $100 when she did. I never did it because I thought it was going to be good for the economy of Austin. I always did it because I thought she was entitled to it. And I think that's a much better reason and a much better cause and I think it can be defended on a hell of a lot better basis [...] We do know that it affects the economy [...] But that's not the basis to go to the Hill, or the justification. We've just got to say that by God you can't treat grandma this way. She's entitled to it and we promised it to her."
LBJ kept that promise. He pushed and drove and cajoled and traded, until Congress finally said yes. And so it was that 47 years ago, we traveled to Independence, Missouri, the hometown of Harry Truman, and there with the former president at his side, LBJ signed Medicare into law. Turning to Truman, whom he called "the real daddy of Medicare, " Johnson signed him up as its first beneficiary. Harry Truman was 81.
All this was high drama, touched with history, sentimentality, politics, and compromise. A whole lot of compromise. The bill wasn't all LBJ wanted. It was, in fact, deeply flawed. There were too few cost controls, as some principled conservatives warned, who were then rudely ignored. Co-pays and deductibles remain a problem. And we didn't anticipate the impact of new technology, or the impact of a burgeoning population.
In fact, even as he signed the bill we still weren't sure what all was in it. As LBJ himself once told me, never watch hogs slaughtered before breakfast and never, never, never show young children how legislation gets enacted.
But Lyndon Johnson had warned: "We will face a new challenge and that will be what to do within our economy to adjust ourselves to a life span and a work span for the average man or woman of 100 years."
That longevity, and the cost, are what we must now reckon with. As the historian Robert Dallek has written, Medicare and Medicaid, the similar program for the very poor, "...did not solve the problem of care at reasonable cost for all Americans", but "the benefits to the elderly and the indigent...are indisputable."
And there's no going back, current efforts notwithstanding. A new study in the journal Health Affairs finds that Medicare beneficiaries age 65 and older are more satisfied with their health insurance, have better access to care, and are less likely to have problems paying medical bills than working-age adults who get insurance through employers or purchase coverage on their own.”
Wizards of I.D.
Papa John's CEO Says 'Obamacare' Will Up Pizza Price
“The CEO and founder of Papa John's pizza wants investors to know that when the president's health care law takes effect, the price of pizza is going up with it.
According to "Papa" John Schnatter, the cost of providing health insurance for all of his pizza chain's uninsured, full-time employees comes out to about 14 cents on a large pizza. That's less than adding an extra topping and a third the price of an extra pepperoncini. If you want that piping hot pie delivered, the $2 delivery fee will cost you 14 times as much as that health insurance price hike.”
Friday, July 20, 2012
Half Of American Households Hold 1 Percent Of Wealth
From the site:
"The share of the nation's wealth held by the less affluent half of American households dropped precipitously after the financial crisis, to 1.1 percent, according to new calculations by Congress's nonpartisan research service."
Romney’s and Obama’s tax plans, in one (new and improved) chart
Great chart from Ezra Klein's blog:
"It’s also worth noting that these numbers only tell half the story: Romney has promised to offset the cost of most of his tax plan through spending cuts and tax reforms, and so any analysis of who pays is incomplete without those policies. But that information is impossible to graph, as Romney hasn’t released it yet. All we can say is that since Romney has promised to increase spending on defense and honor Medicare and Social Security’s scheduled benefits for the next decade, it’s hard to see how he makes good on that promise without cutting deep into programs for the poor and tax preferences that benefit the middle class, and if that’s right, then the poor and middle class are paying much more than you can tell from the graph above."
Sunday, July 15, 2012
The Class-Warfare Election - NYTimes.com
Paul Krugman links to an excellent chart from Ezra Klein. From the site:
"So like it or not, we have an election in which one candidate is proposing a redistribution from the top — which is currently paying lower taxes than it has in 80 years — downward, mainly to lower-income workers, while the other is proposing a large redistribution from the poor and the middle class to the top."
Sunday, July 8, 2012
Molly Ivins on Inflation, the Fed, and Full Employment
Molly Ivins September 24 by Molly Ivins on Creators.com - A Syndicate Of Talent
And words of tribute from a Paul Krugman blog post from 2007 -- still rings true today:
http://www.nytimes.com/2007/02/02/opinion/02krugman.html?_r=2&hp
Monday, July 2, 2012
Obamacare is the biggest tax increase in history … if you ignore history
"Maybe you’ve heard that Obamacare is the biggest tax increase in history. Not so. Not even close. Kevin Drum posted the evidence in a table. I turned it into a chart."
http://theincidentaleconomist.com/wordpress/obamacare-is-the-biggest-tax-increase-in-history-if-you-ignore-history/
Saturday, June 23, 2012
Wealth Inequality Graph
"In last night's introduction to Rachel's interview with Chris Hayes about his new book, she showed a graph depicting the wealth distribution people prefer, the distribution they think exists and the actual distribution of wealth in America. Folks on the Twitter clamored for the link, and our intern Sally tells me there are a lot of requests for it in the Rachel@msnbc.com mailbox as well, so here it is."
http://maddowblog.msnbc.msn.com/_news/2012/06/21/12345961-that-wealth-inequality-chart-rachel-showed-last-night?lite

Tuesday, June 12, 2012
More Firemen, More Policemen, More Teachers
http://krugman.blogs.nytimes.com/2012/06/12/more-firemen-more-policemen-more-teachers/?nl=opinion&emc=edit_ty_20120612
First, Mitt Romney ridiculed Obama for saying that we need more public employment:
He says we need more firemen, more policemen, more teachers. Did he not get the message in Wisconsin?
Afterwards, some commentators wondered, couldn’t he have chosen different professions to ridicule?
And the answer is no. When we talk about public workers, that’s pretty much who we’re talking about:
Monday, June 11, 2012
As unions decline, inequality rises
"To a remarkable extent, inequality, which fell during the New Deal but has risen dramatically since the late 1970s, corresponds to the rise and fall of unionization in the United States."
Sunday, June 3, 2012
How the "Job Creators" REALLY Spend Their Money
http://www.commondreams.org/view/2012/05/29-1
Unfortunately for Eric Ferhnstrom, a senior campaign advisor to the Romney campaign, Paul Krugman (who's been on a tear lately) was on "This Week" Sunday morning to dismantle all of his vapid talking points.
http://crooksandliars.com/blue-texan/week-paul-krugman-destroys-romney-surro
"Unfortunately for Eric Ferhnstrom, a senior campaign advisor to the Romney campaign, Paul Krugman (who's been on a tear lately) was on "This Week" Sunday morning to dismantle all of his vapid talking points."
Bush on Jobs -- The Worst Track Record on Record
http://blogs.wsj.com/economics/2009/01/09/bush-on-jobs-the-worst-track-record-on-record/
Saturday, June 2, 2012
Comparison of European and US Gas Prices
http://grist.org/energy-policy/the-only-solution-to-high-gas-prices-with-charts/
Sunday, May 27, 2012
GOP War on Voting
http://www.newscorpse.com/ncWP/?p=5335
Krugman, Laffer on Real Time with Bill Maher
[NOTE: I rechecked the link and it's been removed as of 05 31 12. Sorry! Might be elsewhere on YouTube]
http://www.youtube.com/watch?v=TWW49wXzs84
How National Belt-Tightening Goes Awry
Robert Shiller writing in the New York Times:
http://www.nytimes.com/2012/05/20/business/economy/how-national-belt-tightening-goes-awry-economic-view.html
"Consider our current thinking about taxes and government spending. We seem caught up in a “family belt-tightening” metaphor, in which the nation is a family that has outspent its income and is trying to get back in control. The family must cut profligate spending, save and pay down debts. It’s a powerful thought, of course, because we know that mismanagement of household finances can lead to a family’s ruin.But perhaps the most important lesson conveyed by the great economist John Maynard Keynes is that this metaphor, when applied to the national economy, is fundamentally misleading: what is smart for the family is not smart for society as a whole. This idea, sometimes known as the paradox of thrift, is that when we all tighten our belts at once, the economy is so weakened that we end up failing to save more, and instead are all worse off. When that happens, some collective action — government stimulus — is needed."
How Chief Justice John Roberts orchestrated the Citizens United decision.
http://www.newyorker.com/reporting/2012/05/21/120521fa_fact_toobin?currentPage=all
Barack Obama has lowest spending record of any recent president
http://www.politifact.com/truth-o-meter/statements/2012/may/23/facebook-posts/viral-facebook-post-says-barack-obama-has-lowest-s/
Table from the site:
What Republicans Really think about Bain Capital
Here are the top 10 comments about Bain from Romney’s Republican rivals:
http://thinkprogress.org/politics/2012/05/22/488113/10-things-mitt-romneys-republican-primary-opponents-said-about-bain/
From the site:
1. “The idea that you’ve got private equity companies that come in and take companies apart so they can make profits and have people lose their jobs, that’s not what the Republican Party’s about.” — Rick Perry [New York Times, 1/12/12]
2. “The Bain model is to go in at a very low price, borrow an immense amount of money, pay Bain an immense amount of money and leave. I’ll let you decide if that’s really good capitalism. I think that’s exploitation.” — Newt Gingrich [New York Times, 1/17/12]
3. “Instead of trying to work with them to try to find a way to keep the jobs and to get them back on their feet, it’s all about how much money can we make, how quick can we make it, and then get out of town and find the next carcass to feed upon” — Rick Perry [National Journal, 1/10/12]
4. “We find it pretty hard to justify rich people figuring out clever legal ways to loot a company, leaving behind 1,700 families without a job.” — Newt Gingrich [Globe and Mail, 1/9/12]
5. “Now, I have no doubt Mitt Romney was worried about pink slips — whether he was going to have enough of them to hand out because his company, Bain Capital, of all the jobs that they killed” — Rick Perry [New York Times, 1/9/12]
6) “He claims he created 100,000 jobs. The Washington Post, two days ago, reported in their fact check column that he gets three Pinocchios. Now, a Pinocchio is what you get from The Post if you’re not telling the truth.” — Newt Gingrich [1/13/12, NBC News]
7. “There is something inherently wrong when getting rich off failure and sticking it to someone else is how you do your business, and I happen to think that’s indefensible” — Rick Perry [National Journal, 1/10/12]
8. “If Governor Romney would like to give back all the money he’s earned from bankrupting companies and laying off employees over his years, then I would be glad to then listen to him” — Newt Gingrich [Mediaite, 12/14/11]
9. “If you’re a victim of Bain Capital’s downsizing, it’s the ultimate insult for Mitt Romney to come to South Carolina and tell you he feels your pain, because he caused it.” — Rick Perry [New York Times, 1/8/12]
10. “They’re vultures that sitting out there on the tree limb waiting for the company to get sick and then they swoop in, they eat the carcass. They leave with that and they leave the skeleton” — Rick Perry [National Journal, 1/10/12]
David Stockman Talks about Romney Job Creation
http://www.youtube.com/watch?v=Fu4-6o44d6M
"I don't think that Mitt Romney can legitimately say that he learned anything about how to create jobs in the LBO business. The LBO business is about how to strip cash out of old, long-in-the-tooth companies and how to make short-term profits…All the jobs that he talks about came from Staples. That was a very early venture stage deal. That, you know they got out of long before it got to its current size."
Saturday, January 21, 2012
Total Effective Federal Tax Rate By Income -- 2007
"Our income tax system is designed to be “progressive.” That is, we generally agree that people with higher incomes should pay a greater percentage of their income in federal income taxes, because they can afford to pay more. But because capital gains are concentrated at the highest levels of income and taxed at favorable rates, many of the most affluent taxpayers pay a lower effective tax rate than those beneath them on the income scale."
http://www.americanprogress.org/issues/2011/02/te022311.html
Saturday, January 7, 2012
What If Obama Loses?
http://www.washingtonmonthly.com/magazine/january_february_2012/features/what_if_he_loses034501.php
It’s a common complaint—we’ve certainly made it over the years—that too much political campaign coverage focuses on the horse race. The packed debate schedule in the current GOP nomination battle has put a bit more focus than usual on the substance of what the candidates are saying, which is good. But even so, most of this coverage has wound up being about whether a given policy position might help or hurt a candidate’s chances of winning. What’s most important has been left largely unexamined: if one of these candidates actually becomes president and advances his or her policies, what would be the consequences for the nation?
Friday, January 6, 2012
U.S. debt was a better investment than gold this year
Inside the Beltway, our country’s debt load was politically toxic in 2011, but in the global marketplace, it was even better than gold. The euro-zone crisis sent investors fleeing for the relative safety of U.S. Treasurys. Now the U.S. bond market is set to have its best year since 2008, with a 13.7 percent return — significantly outperforming the stock market in 2011. What’s more, the Wall Street Journal points out, “the biggest star was the 30-year Treasury bond, with a 35% return, far outpacing even gold, another favorite safe-haven asset.”
Monday, January 2, 2012
Nobody Understands Debt
http://www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html
In 2011, as in 2010, America was in a technical recovery but continued to suffer from disastrously high unemployment. And through most of 2011, as in 2010, almost all the conversation in Washington was about something else: the allegedly urgent issue of reducing the budget deficit.
Another Excellent Inequality Study
The Congressional Research Service (CRS) isn’t as well known in these parts as the CBO, but their reports are widely considered equally reliable and nonpartisan.
So I took notice of their newly released study on income inequality.