September 19, 1996 |
The Inquirer began a 10-part series last week entitled "America: Who Stole the Dream?" that will attract attention. The thesis is simple: Big Government and Big Business are relentlessly reducing living standards and job security for most Americans. The series by Donald Barlett and James Steele portrays living in America as a constant hell for all but the superwealthy. This seems overdrawn, because it is. It's junk journalism, and the intriguing question is why a reputable newspaper publishes it. I call it "junk," because it fails the basic test of journalistic integrity and competence: It does not strive for truthfulness, however impossible that ideal is to attain.
March 4, 2003 |
While moving toward war with Iraq, President Bush yesterday sought to underscore that he was not ignoring the slumping economy. In a 40-minute interview with reporters from around the country, he touted his plans to cut taxes, curb corporate abuse, and shore up health care. "I'm optimistic about this economy, I really am," Bush said. "I think the underpinnings for growth are solid and sound. But we've got work to do, so I'm going to work hard with the Congress, and I'm also optimistic about the Congress hearing from the people in getting this package that I proposed passed.
November 4, 1991 |
I got a hole in my shoe," said Slats Grobnik, "but I don't know what to do about it. " What are you talking about? Your choices are simple. Get a new pair of shoes or get the old pair resoled. "Not that simple. I wanna do what's best for the country. " What does a hole in your shoe have to do with the well-being of this country? "See? You never did know nothing about economics, did you? The hole in my shoe is what this recession is all about. " Your shoe? "It works this way. If I go out and buy a new pair of shoes, I'm gonna be spending money on consumer stuff, right?
March 6, 1991 |
Boxers are known for absorbing blows, but the sluggish economy is forcing them to take the punches to their pocketbooks - an area that may be even more vulnerable than their chins or bellies. The hard times have become apparent with the Carl "The Truth" Williams- Tim Witherspoon card on Friday night at the Trump Taj Mahal in Atlantic City. Williams, who will defend his United States Boxing Association heavyweight title, will make $175,000, while former world champ Witherspoon will earn $165,000 - purses that would have been bigger, according to promoter Bob Arum, if the economy were healthier.
July 14, 1991 |
Six years ago, David A. Stockman, the brash Reagan administration budget director, left Washington, vilified by the city's establishment for warning that the President and Congress would drive the country to financial ruin by failing to cut the federal budget deficit. Today, the former supply-side Wunderkind, who has barely been heard from since arriving on Wall Street in 1986, sounds more like Pollyanna than Cassandra. He thinks the budget and the U.S. economy are back on a healthy track.
December 10, 2007 |
Metro Philadelphia's mix of corporate employers makes for a mellow regional economy, slow-growing but also recession-resistant. An Inquirer survey of more than 200 major employers shows the region's biggest job engines are the hospital system affiliated with Thomas Jefferson University, and the combination of the University of Pennsylvania and its hospital network. Other big employers include drugmakers and medical-device manufacturers such as Merck & Co. Inc. , GlaxoSmithKline P.L.C.
April 7, 2013 |
WASHINGTON - A streak of robust job growth came to a halt in March, signaling that U.S. employers may have grown cautious in a fragile economy. The gain of 88,000 jobs was the smallest in nine months. Even a decline in unemployment to a four-year low of 7.6 percent was nothing to cheer: The rate fell only because more people stopped looking for work and were no longer counted as unemployed. The weak jobs report Friday from the Labor Department caught analysts by surprise and served as a reminder that the economy is still recovering slowly nearly four years after the Great Recession ended.
July 18, 1986
The editorial of July 10, "Time for action to boost growth of U.S. economy," correctly lists the economy's troubles, but does not say why it is in trouble. In 1945, the United States was the most outstanding industrial nation in the world. Japan, on the other hand, was prostrate, with Gen. Douglas MacArthur reordering Japanese life after that country's military defeat. In the post-war period, Japan de-emphasized militarism, but the United States concentrated on that activity.
November 8, 2012 |
Upper-income Americans may face a tax increase. Auto fuel-economy standards might be raised. Stocks of construction and engineering companies could benefit. America's decision to reelect President Obama may affect all that and other elements of the U.S. economy and financial system - from the health-care law to the overhaul of financial rules. At the same time, a gridlocked Congress will limit Obama's influence. Tuesday's election kept Republicans in control of the House. Democrats still control the Senate, but without a commanding majority.
January 29, 2013 |
WASHINGTON - The U.S. economy is a study in contrasts. The housing, banking and auto industries are surging back to health, and that has helped push the stock market to a five-year peak. Higher prices for homes and stocks tend to make people feel wealthier and spend more. Yet, unemployment remains high and hiring modest. The end of a Social Security tax cut is shrinking already flat pay. Federal budget fights have put businesses and consumers on edge. Balanced between those tailwinds and headwinds, the economy is struggling to accelerate.