**** Reuters: New claims for unemployment benefits dropped to a nine-month low last week, a government report showed on Thursday, suggesting the labor market recovery was gaining momentum.
Initial claims for state unemployment benefits fell 23,000 to a seasonally adjusted 381,000, the Labor Department said, the lowest since late February. That was below economists’ expectations for a fall to 395,000.
The report, coming on the heels of data last week showing a rise in hiring and a sharp drop in the unemployment rate to 8.6 percent in November, pointed to some healing in a sector that has been the Achilles heel of the economy’s recovery.
President Barack Obama waves to people gathered along the motorcade route from Osawatomie High School to Osawatomie-Paola Municipal Airport in Osawatomie, Kan., Dec. 6, 2011. (Official White House Photo by Pete Souza)
Paul Krugman: One crucial thing you need to understand about political journalists is that with some honorable exceptions, they don’t know or care about actual policy …
…. Hence, the awful decision of Politico to give Paul Ryan an award as healthcare policymaker of the year.
…. what became painfully, embarrassingly clear during the debate over the Ryan plan was that Ryan is, well, incompetent …. it’s true that the plan “got everyone talking”, as Politico says – but mostly it got people talking about what a mess Ryan’s effort was.
Oh, and it was pretty clear that Ryan wasn’t being honest about his own numbers.
What’s going on here, I suppose, is that Politico is mistaking theater for policy. Ryan isn’t an important health care reformer, or even minimally competent in his attempted wonkery, but he plays a deep thinker on TV. And the people at Politico either don’t understand the difference, or they don’t care.
President Obama returns to the White House after a visit to Kansas
Steve Benen: President Obama has decided that, from now on, foreign aid decisions will take into consideration how countries treat their LGBT citizens, and he directed U.S. agencies abroad to ensure our humanitarian and diplomatic efforts “promote and protect” the rights of gays and lesbians.
…. today’s announcement marks a historic first …. It also adds to a rather extraordinary record for Obama in this area in his first three years….
…. I realize there are still a sizable number of people in the LGBT community who are unsatisfied with the pace of change, and consider President Obama someone who has ignored, and even betrayed, their interests. Some have even vowed not to lift a finger to help with the president’s re-election effort.
I suspect many social-conservative activists find this inexplicable.
Sen. Chuck Schumer (D-NY) praises President Obama’s Kansas speech, dubbing it the “Obama doctrine”:
“This President may have just coined an economic version of an Obama Doctrine. It is a vision for keeping the American dream alive for the middle class that directly rebuts the failed theory of trickle-down economics.”
President Obama greets people in the audience after speaking at Osawatomie High School, Kansas
President Obama and Health and Human Services Secretary Kathleen Sebelius arrive at Kansas City International Airport
President Obama climbs onto the stage prior to speaking about the economy at Osawatomie High School
President Obama, accompanied by Health and Human Services Secretary Kathleen Sebelius, visits We B Smokin’ Bar-B-Que with on the outskirts of Osawatomie
President Obama boards Air Force One at Kansas City International Airport en route to Washington
President Barack Obama participates in a college affordability roundtable with college presidents in the Roosevelt Room of the White House, Dec. 5, 2011. (Official White House Photo by Pete Souza)
9:35 The President departs the White House
12:25 Arrives Kansas City
1:55 Delivers remarks on the economy
4:25 Departs Kansas City en route to Andrews
AP: President Barack Obama is channeling President Theodore Roosevelt, embracing a mantle of economic fairness for the nation’s middle class Tuesday that draws parallels to the progressive reformer’s calls for a “square deal” for regular Americans more than a century ago.
Obama intends to use a speech in small town Osawatomie, Kan. – where Roosevelt delivered his “New Nationalism” address in 1910 – to lay out economic themes of giving middle-class workers a fair shake and greater financial security, concepts the president will probably return to repeatedly during the 2012 campaign.
…. The president will be speaking at a high school about 50 miles southwest of Kansas City, not far from the presidential electoral prize of Missouri, which Obama narrowly lost to Republican John McCain in 2008.
Spike Dolomite Ward (LA Times): ….. I want to apologize to President Obama. But first, some background. I found out three weeks ago I have cancer. I’m 49 years old, have been married for almost 20 years and have two kids…. We’re good people, and we work hard. But we haven’t been able to afford health insurance for more than two years….
…. Fortunately for me, I’ve been saved by the federal government’s Pre-existing Condition Insurance Plan, something I had never heard of before needing it. It’s part of President Obama’s healthcare plan, one of the things that has already kicked in, and it guarantees access to insurance for U.S. citizens with preexisting conditions who have been uninsured for at least six months …. for me it’s been a lifesaver – perhaps literally.
….. Which brings me to my apology. I was pretty mad at Obama before I learned about this new insurance plan. I had changed my registration from Democrat to Independent, and I had blacked out the top of the “h” on my Obama bumper sticker, so that it read, “Got nope” instead of “got hope.” I felt like he had let down the struggling middle class. My son and I had campaigned for him, but since he took office, we felt he had let us down.
So this is my public apology. I’m sorry I didn’t do enough of my own research to find out what promises the president has made good on. I’m sorry I didn’t realize that he really has stood up for me and my family, and for so many others like us. I’m getting a new bumper sticker to cover the one that says “Got nope.” It will say “ObamaCares.”
USA Today: More than 2.65 million Medicare recipients have saved more than $1.5 billion on their prescriptions this year, a $569-per-person average, while premiums have remained stable, the government plans to announce today.
That’s because of the provision of the health care law that put a 50% discount on prescription drugs in the “doughnut hole,” the gap between traditional and catastrophic coverage in the drug benefit, also known as Part D.
And, as of the end of November, more than 24 million people, or about half of those with traditional Medicare, have gone in for a free annual physical or other screening exam since the rules changed this year because of the health care law…..
Steve Benen: Politico will host an awards dinner tonight, honoring “Policymakers of the Year” in a variety of categories and fields. That wouldn’t be especially interesting, were it not for the news organization’s choice for “Health Care Policymaker of the Year.”
…..House Budget Committee Chairman Paul Ryan….
…. It’s been several months since the political world debated Paul Ryan’s approach to health care in detail, so perhaps Politico has forgotten some of the more important realizations from the debate. Let’s remind the publication of the relevant details….. (see post)
To know all of this, and give this guy an award “Health Care Policymaker of the Year” anyway, is madness.
Steve Kornacki: President Obama’s remarks this afternoon captured how dramatically his posture toward congressional Republicans has changed since this summer …. he is shifting the battle to a new, more promising front: the looming expiration of payroll tax cuts.
On this subject, Republicans are increasingly nervous and divided ….. This set the stage for Obama’s appearance this afternoon, where he struck a confident tone and sought to make the GOP squirm even more. Just behind the president was a countdown clock that indicated a tax hike is just 26 days away unless action is taken. He called on Congress to “keep your word to the American people, and don’t raise taxes on them right now,” and belittled the GOP for its seemingly selective devotion to tax relief. “I know many Republicans have sworn an oath never to raise taxes as long as they live,” Obama said. “How could it be the only time there’s a catch is when it comes to raising taxes for middle-class families?”
….This is a new phenomenon in the 112th Congress: Obama and his party seem to have the upper hand – and they know it.
“We agree, of course, with former Speaker Gingrich – this is a country of people of enormous talent. Those who deliver thousands of babies like Dr. Paul and those who spend their time focusing on promoting themselves for profit. We even have those who lobby, but don’t call it such because, as they say, they can make $60,000 per speech. While those of us in the Paul camp might disagree with Newt Gingrich about whether Donald Trump is the right man to host a serious political debate, we do agree New York is a wonderful place to go at Christmas. We are sure two average Americans like Speaker Gingrich and Donald Trump will have a wonderful time picking out gifts for their wives. We suggest a place called Tiffany’s, we hear it is quite nice this time of year and given their celebrity status they can probably get special deals and $500,000 lines of credit.”
Reuters: Mitt Romney spent nearly $100,000 in state funds to replace computers in his office at the end of his term as governor of Massachusetts in 2007 as part of an unprecedented effort to keep his records secret, Reuters has learned.
…. The effort to purge the records was made a few months before Romney launched an unsuccessful campaign for the Republican presidential nomination in 2008.
… Theresa Dolan, former director of administration for the governor’s office, told Reuters that Romney’s efforts to control or wipe out records from his governorship were unprecedented.
Dolan said that in her 23 years as an aide to successive governors “no one had ever inquired about, or expressed the desire” to purchase their computer hard drives before Romney’s tenure.
LA Times: ….. Romney says his Bain experience shows he knows how to create jobs …. But a closer examination of the prospectus paints a different picture of Bain’s operation …. Bain expanded many of the companies it acquired. But like other leveraged-buyout firms, Romney and his team also maximized returns by firing workers, seeking government subsidies, and flipping companies quickly for large profits. Sometimes Bain investors gained even when companies slid into bankruptcy.
…. Four of the 10 companies Bain acquired declared bankruptcy within a few years, shedding thousands of jobs. The prospectus shows that Bain investors profited in eight of the 10 deals, including three of the four that ended in bankruptcy.
…. Bain formed GSI in the early 1990s by spending $24 million to acquire and merge steel companies with plants in Missouri, South Carolina and other states. Company managers cut jobs and benefits almost immediately. Meanwhile, Bain and other investors received management fees from GSI and a $65-million dividend in the first years after the acquisition….