E-Newsletters
Missourian Harry Truman always wanted a one-handed economist. He explained that all of his economists said on the one hand…but on the other hand. Sometimes, it's hard to make heads or tails of the economic news from Washington.
On the one hand, the unemployment rate dropped to 8.5%, the lowest since February 2009. The economy added 200,000 jobs which were more than expected. Those are positive numbers that seem to indicate our economy is recovering.
The corn is off the cob for 2011, but as we begin 2012, there is much that needs to be done. The floods of last summer have now mostly subsided. As clean up continues, we need to start preparing for 2012.
The Missouri River breached levees from Sioux City to mid-Missouri. Unlike a normal flood, it took months for the water to return to its banks. There are many levees that need to be repaired and many will not be rebuilt to the same height in time for spring.
Congress finally completed its work last week when it extended the payroll tax break for the first two months of 2012. It did not happen easily and I don't blame you if you were left wondering what all the fuss was about.
It's very rare that Washington has a chance to do something which will help to create thousands of jobs, and decrease energy prices, at no cost to taxpayers. You would think that a deal like that would sail through Congress and be signed quickly by the President. However in Washington, common sense often takes a back seat to politics.
The Keystone XL Pipeline project would be a 36-inch pipeline running 1,600 miles from Canada to Texas. It would transport oil from supply fields in Alberta and North Dakota to refineries on the Gulf Coast.
Illinois Senator Everett Dirksen is credited with saying "a billion here, a billion there and pretty soon you are talking about real money." Although no one is quite sure where he said that. In today's Washington, we talk about trillions. A trillion is a number with 12 zeros behind it. It looks like this: 1,000,000,000,000.
It's easier to understand the problem with Washington's budget if you take out eight zeros. Put that way, Washington makes $23,000 every year, but spends $36,000. They have also racked up $150,000 on their credit card. We have a spending problem.
Last week, millions of shoppers across the country participated in an unofficial American holiday- Black Friday. As the busiest shopping day of the year, many businesses count on these sales to stay in business. In fact, this is the day when many retailers go into the black, or turn a profit, for the year.
As we approach the holidays this year, it may seem harder than ever to find good news. There seems to be a daily drumbeat of bad news everywhere you turn. However, we have to remind ourselves that there is also much to be thankful for.
I am thankful for men and women who are willing to travel halfway around the world to protect our freedoms. Even on Thanksgiving Day, men and women in places like Iraq and Afghanistan stand ready to defend our nation and its interests. They are heroes. We miss them, but we are proud of their service.
Our 40th President, Ronald Reagan, once observed that the nearest thing to eternal life that we will ever see is a government program. What Reagan knew was that it is much more difficult to end a government program than it is to start one. It often appears that there is a government program for every problem, whether it is real or imagined.
(Washington, D.C.) U.S. Congressman Sam Graves issued the following statement in honor of Veteran's Day.
"Today, we celebrate and remember the service of our nation's veterans. Former President John F. Kennedy said, ‘A nation revels itself not only by the men it produces, but also by the men it honors, the men it remembers.' Across the nation we are once again revealing our character by pausing to honor and remember our veterans.
New claims for unemployment benefits were down last week and U.S. workers' productivity rose in the third quarter for the first time this year. While there are signs that the economy is improving, there are more signs that the economy is still in a historic sluggish downturn.