When Reuters and CNBC.com announced the awful housing numbers from February, most observers were surprised. The housing market appeared to have found a bottom last fall, and many economists were expecting small but predictable improvements every month.
While Republicans have touted savings in the passage of continuing resolution after continuing resolution, it seems the military operations in Libya may eliminate any of the celebrated savings. Since the beginning of March, Republican leaders have boasted spending reductions amounting to almost $300 million per day. Unfortunately, that victory may be short lived as President Obama has embarked on additional military operations in the Middle East.
When the Congressional Budget Office’s preliminary analysis of the Obama Administration’s 2012 budget was announced last week, observers were shocked — shocked! — to learn that deficits over the next 10 years would be nearly $10 trillion, almost $2½ trillion more than the administration’s estimate.
President Barack Obama's imprudent moratorium on drilling for oil in the Gulf Of Mexico cost not only the Gulf region but also the nation billions of dollars and tens of thousands of jobs.