Mr. Perry Prays for “Those Who Cannot See the Light”, Obama Press Sec Call Debt Ceiling Deal “Bipartisan Compromise”, Mitt Has Nice Friends, Even Good News is Bad News . . .

And More Comments on the News

Texas Republican Governor Rick Perry organized a big religious event in Houston, and the Governor went on stage to preach to the choir.  During his sermonizing Mr. Perry



Tex. Gov. Rick Perry at Religious
Rally



called on Jesus to bless and guide the nation’s military and political leaders and “those who cannot see the light in the midst of all the darkness.”

Mr. Perry apparently did not identify who the people are who cannot “see the light”, The Dismal Political Economist suspects he meant immoral, socialistic, atheistic secularists or in other words, Democrats. 

The event was non-denominational,

Mr. Perry said he wanted people of all faiths to attend but, . . . . The prayers were given in Jesus Christ’s name, and the many musical performers sang of Christian themes of repentance and salvation.

 

Replying to the S&P downgrade of the U. S. credit rating, Press Spokesman Jay Carney said

“The bipartisan compromise on deficit reduction was an important step in the right direction,”

When they could stop laughing, House and Senate Republicans leaders commented that they were willing to enter into this type of “bipartisan compromise” every time.

The mysterious donor who gave Mitt Romney $1 million has come forward.  It is a friend and former co-worker from the days when Mr. Romney  was making money buying and selling businesses.    The contribution had been done through a shell company, presumably to hide the donor’s name.  Mr. Romney saw nothing wrong with this and was said to be surprised by the questions about the contribution.  He said he thought everyone had friends like that, because everyone he knows and pals around with does.



Mr. Brown Trying To Remember if He had Anything to
do with the Economic Problems



Former British Prime Minister Gordon Brown has blasted American and European leaders in their

handling of the various economic and financial crises that have plagued both continents.  Mr. Brown’s comments were at first taken seriously until everyone remembered that he had been the equivalent of Secretary of the Treasury in Britain’s government and then Prime Minister while the current difficulties were being created.

President Obama’s turn towards deficit reduction took a turn away from deficit reduction as he endorsed a continuation of the reduction in payroll taxes.  At the end of 2010 two percentage points were taken off the employee’s FICA tax, and the reduction was to last one year. 

Any astonishment at the speed with which the President once again changed course was dwarfed by the even greater astonishment that

Republicans are wary of renewing the tax break.

Republicans explained that this was a regressive tax cut, meaning it benefited working families far more than wealthy families.  “That’s just something we are not into” they said.

Economic advisers to the President did say that the fact that this tax cut seems to have had no impact on employment and economic growth did not enter into their recommendation that the President support this tax cut.

The price of oil on world markets has come down which should be good, right

The price of West Texas Intermediate crude on the New York Mercantile Exchange fell $5.30 a barrel, or more than 5%, Thursday to settle at $86.63—its lowest level since February

No it's not good.  The price of oil has come down because of expectation of world economic weakness, particularly in the U. S. and Europe. 

The situation is even evoking comparisons with 2008, when the oil price collapsed from a high of $147 a barrel to $30 a barrel within the space of a few months, as the world tipped into a deep recession.

Well doesn't that just ruin any good feeling everyone had about getting less expensive gasoline.  Have a nice week.