StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



New York Times

Posted by Stan Collender

Floyd Norris had an interesting article in yesterday's New York Times about the state of the auto industry.  He notes that car buyers in general are coming back and, as he shows in the second graph, there's been a sharp uptick in consumer purchases.

 

But I'm not one of these buyers, and am not going to be for quite some time in spite of the fact that my current car is almost seven years old and that I've never had a vehicle this long before.  The reason?  Somehow the experience of buying a new car has become even worse than it was before the economy in general and the auto industry in particular tanked and it's simply not worth my time or frustration.

So I'm voting with my feet...and wallet.

Posted by Stan Collender

Here are the first two paragraphs from a CBS News/NYTimes poll published today in the Times:

Most Americans continue to want the federal government to focus on reducing the budget deficit rather than spending money to stimulate the national economy, a new New York Times/CBS News poll finds. Yet at the same time, most oppose some proposed solution for decreasing it.

Fifty-six percent of respondents said that they were not willing to pay more in taxes in order to reduce the deficit, and nearly as many said they were not willing for the government to provide fewer services in areas such as health care, education and defense spending.

Posted by Stan Collender

Today's New York Times has an interesting op-ed by "Public Editor" Clark Hoyt about reporters who also write columns, that is, opinion pieces, on the same subjects they cover.  His question: Is that appropriate?

The question is interesting but largely passe to the point of almost being quaint. Print reporters routinely get interviewed on television and radio about the stories they cover and are often treated as experts in their field.  Many print and on air journalists these days also have blogs in which they provide their opinions on many of the same subjects they write about as reporters.

It's not surprising, therefore, that the publications for which these journalists report also want them to provide the opinion-oriented content instead of allowing them to provide it elsewhere.

There's also a bottom line consideration that Hoyt doesn't mention: Having one of your reporters write a column in most cases means that you don't have to pay someone to provide that additional content.

Posted by Pete Davis

Andrew is right on in calling all of the candidates to task for their fantasies of fiscal discipline in the face of such daunting challenges as the war, a weak economy, and the fiscal fiasco of the past seven years under President Bush 43.  John Brody of the New York Times and Jim Horney of the Center for Budget and Policy Priorities deserve public services award for bringing it all together in Brody's article Sunday.

Let's debunk the fantasies.

Posted by Stan Collender

The New York Times has an article today by John Broder that will give anyone and everyone who watches the federal budget debate something to worry about.

So, in no particlar order...

Although it doesn't quote him, the article indicates that McCain economic advisor and former Congressonal Budget Office Director Douglas Holtz-Eakin says, ..."if the war and the personal and corporate tax cuts that Mr. McCain advocated added to the federal deficit and debt, so be it."

This is an outright admission that the candidate still in the race who considers himself to be the most fiscally conservative has little interest in government borrowing and sees no reason to limit his plans or deal with the budget hand he will be dealt if he gets elected.

The article also indicates that McCain "...plans to pay for tax cuts and modernizing the military by eliminating earmarks and wasteful spending from the federal budget."



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