Damn, we insist on recovery (A mishmash of good economic news)

1. The audacity to be freaking efficient:

CBO: TARP WILL COST SUBSTANTIALLY LESS THAN PREVIOUS ESTIMATES

…The government’s Troubled Asset Relief Program is seen as costing taxpayers $25 billion, substantially less than previous estimates. 
Because the financial system stabilized and then improved, the amount of funds used by the TARP was well below the $700 billion initially authorized, and the outcomes of most transactions made through the TARP were favorable for the federal government.

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2.  Buy buy, baby, buy…

ONLINE SALES ON CYBER MONDAY CLIMBED 19%

More on the pretty bright Black Friday weekend in Deaniac83’s excellent piece:

THE OBAMA RECOVERY CONTINUES

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4. The auto- bailout really really sucked:

GM PLANS TO ADD 1000 BATTERY TECH ENGINEERS

…The automaker said most of the jobs will be at a technical center in Warren, Mich., north of Detroit. The engineers will help develop batteries for hybrid, electric and hydrogen fuel cell vehicles of the future.

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5. But i thought people had no confidence in Obama!

NOVEMBER CONSUMER CONFIDENCE RISES TO 54.1

WASHINGTON (MarketWatch) — An index of U.S. consumer confidence rose to 54.1 in November, reaching the highest level since June, with consumers more optimistic about future business conditions and job prospects, the Conference Board reported Tuesday. Economists polled by MarketWatch had expected a reading of 53.

Confidence for October was revised to 49.9 from a prior estimate of 50.2. A barometer of consumers’ expectations rose to 74.2 in November – the highest level since May — from 67.5 in October, while consumers’ assessment of the present situation ticked up to 24 from 23.5.

67 thoughts on “Damn, we insist on recovery (A mishmash of good economic news)

  1. Thanks for this. No doubt this country is still struggling mightily, but we are slowly but surely climbing out of the morass created by job-killing policies.

  2. It’s wonderful to have these facts to hand out when people sneer at my cheerleading for our president and his policies. Will everything work? No. And he may be the turtle in this race to recovery. But with him, we’ll get there. Thanks, BWD

  3. Very Good info. Also The Food Safety Bill was passed earlier today. Not surprising plenty of Republicans voted against it, including my two Senators Demint, and Graham, but I am not surprised. Since when did food safety become partisan?

  4. BWD,

    This place feels like home. I love it here. Thank you for making fact checking and truth telling cool again. It is a pleasure to visit your new website. I have been wanting you to branch out on your own for a long time.

    The media firewall continues to be a thorn in the side of President Obama. As you have said before, for the media, the only good news about President Obama is bad news

    I am amazed at the projects and initiatives taking place on a daily basis at whitehouse.gov Too many Americans just don’t have a clue about the accomplishments of the Obama administration.

    You are providing an invaluable service for which I am truly grateful.

  5. I find people (who recognize that it is a requirement that we acknowledge progress in order to advocate for more) to be the most level-headed and practical, actually. With the most common sense as well.

    I can’t imagine working for superiors who would say things like “that’s only 25%complete –what a whore for the corporations you are!” lol, or “thanks for this memo but you had BETTER recognize that you have more work to do, you lazy, ineffective coward!”

    Much better working for people who say “good job! this could have been done better for future reference, but thanks for your efforts,” or “I know that you can work a little faster than this; I’ve seen what you can do; please improve,” or “we know that this is difficult, and thanks for your hard work and delivering results.”

    Seriously, the former managerial style is flat-out abusive; the latter, effective. I don’t care at all about being derided for “cheerleading.” Trust that some of the same who are doing the deriding published nonsstop positive portrayals of John Edwards during the primaries, and/or have shown themselves willing and able to turn on a dime when the wind blows back towards POTUS and it’s popular to credit his achievements.

    Keep on keeping on everyone, and ignore the noise!

  6. “We may not get there in one year or even in one term, but America, i promise you: We will get there”.

    Barack Obama, November 4, 2008.

    Just one more speech that people heard but didn’t bother to actually listen.

  7. Of course the way is still very long, but if people were less ignorant, they would know that this recovery is actually going much faster than the one from the 30s.
    The difference is that back then people were tough and resilient (and had no Internet or cables), and now it’s all whining – And not even by those without a job, who has all justification to be really upset – it’s the privileged ones that pull their hair 24/7.

  8. Shout out to my son (former poli sci major) NONE of this surprises him. Why? Because he decided to believe the opposite of what the Ranters push a long time ago. He keeps his eye on the bottom line. And on reality.

    I used to say the following over there – defiantly. I will say it here, calmly: I trust Obama.

  9. BWD,
    This site is a breath of fresh air. I stopped by dKos to get the headlines and found I needed to exit quickly. Glad you have the link to the CBO report regarding TARP. I glanced at a story in the WashPost this morning and was pleasantly surprised. Some how I doubt the story will get much coverage elsewhere.

    Thanks for your work in putting together these summaries.

  10. BWD, that’s what’s blowing my mind!!! We were talking about this on WSY, and someone noted that they stopped listening to the whining when it was revealed that one of the biggest whiners and accusers of prostitutionwhoredom himself worked at an investment bank for years! Others are lawyers, doctors, political consultants making money hand over fist with the cottage industry of anti-POTUS “critics” from “the left.”

    It’s amazing. But I think that when examining the numbers in the base, in general, people really do understand that POTUS isn’t a magician and is implementing some good policies; no one of rational, adult mind expected perfection. Where we messed up was failing to make a compelling case to swing voters that (a) Dems didn’t even spend that much; and (b) what they did spend was necessary and very effective. Going forward, it’s going to be critical to make that case.

  11. I think that he’s certainly earned a presumption of good faith! I think that what’s happened is that Bush was very successful with creating a toxic political atmosphere in which one was either with him or against him, no nuance or gray areas allowed. I think that there are a few loud people in the new media who never transitioned from the combative (“fine, we’re against you”) style which the Bush WH elicited. They simply cannot evaluate a new and far more benevolent WH in a nuanced manner. Residue of the Bush years.

  12. My background is Counseling. I believe psych dynamics are a part of it. There is a group of people getting off (clearly NOT a technical term, LOL) on the attention they receive. A million bucks says this is new for them (ie, didn’t happen in their formative years) and they are running with it. Didn’t exactly happen for me either, but I THINK.

  13. The Man keeps rolling along with those successes. Unbelievable TARP is down to just 25 billion.
    I have been keeping half an eye on the news today with the “bipartisan” meeting going on. I would hate to be a republican in that meeting.

  14. I think you were right, bwd, when you suggested the existence of an alternative universe. Progress and improvements are happening, the good news keeps chugging along, winding its way out of the depths, slowly but surely. And at the same time there are all the usuals still choosing to look the other way, to not acknowledge the achievements, so they can continue to be outraged, which is their normal.
    What is wrong with people who are so addicted to the most pessimistic view, who never allow themselves to see any bright light, who are constantly angry? They are making the road forward so much more difficult than need be with their piling on. It’s just dumb.

  15. Nice to see some good things happening. The negative vibes about the prez out there right now is fierce. Depressing at times….

  16. But, the pundits keep talking about President Obama not having the ‘White’ confidence vote…. I’m confused….NOT!

  17. so true bwd. It’s frustrating. He has said this over and over again before he was elected.

  18. Thanks,
    I’ve been lurking since day 1 and I signed up for your daily emails but this is my first comment. Glad to be here.

  19. Absolutely, g, there is indeed a subset of straight up grifters looking to cash in financially or emotionally/attention-wise from stridency against this WH. Insofar as they can nourish a cottage industry of binary thinkers to provide those finances and/or attention, they will do so. The problem is the credulous audience IMO, thank God growing slimmer by the day from what I can perceive.

  20. Just give her the site address – as you use. On the right of the home page above the calendar anmd blogroll is the sign up field. (“Email subscription – sign me up”)

  21. Appreciate the link to deaniac’s factolicious piece on the recovery. Asked a member of the family who has grumbled on and off about the time it is taking for the economy to recover this question: “How long would it take for you as an individual to recover from a serious personal economic crisis, would you be able to pick up the pieces and go about your merry way in less than two years?” the answer was no.

  22. Is this not Happy Trails or what, KP? And I mean no irony and no “cheerleading.” But Obama IS making progess, and here we recognize it. How hard was that?!

  23. BWD – I’m not getting the “new response emails” even though I clicked both boxes. Truly, I love the site enough to read who articles and threads repeatedly, but it would be efficient on busy days. THX.

    You have changed my entire mindset about politics. The other blog had soured me completely.

  24. sorry g and GN ended up in your thread inadvertently, proves I cannot be trusted with a computer. Anyway, I trust the President too and your son deserves the shout out g for having such a realistic outlook

  25. Right now on DK, Icebergslim has a diary up about the Republicans blocking unemployment insurance–and she’s blaming it on . . . you guessed it . . . THE PRESIDENT.

    Yes, they’re addicted to outrage. I’m so sorry to see that Icebergslim has joined the hating crowd, because she did so much for Obama during the primaries. I’m guessing that she had a vision of anger and revenge raining down on the Republicans if Obama won, and when he chose a softer (and more successful) route to governing, she was sorely disappointed.

    It makes me feel better to know some history. FDR’s loudest critics also were from the looney left. They thought he was a sell-out(sound familiar?) They didn’t adopt him as their favorite son until 1948, when it became clear that his approach had been the progressive one after all.

    And I’m quite sure that’s how they’ll treat Obama. Once he’s out of office for a few years, they will remember how they loved him when he was in office. Truly.

  26. I can’t begin to tell you ACD how nice it is to be able to see how much is being done. And it is pretty damn easy to recognize it🙂

  27. I never got that poster. With her name and pro-Obama stuff, developing a following and then WHAM – turning on him, bringing her following along…but that’s just my CT.

    Ugh, enough with them. Sometimes I just think they’re crazy. Period. I remember your name, Fonsia. Nice to see you here.

    Thank you for the historical view.

  28. With regard to the meeting in the WH today. How quickly the MSM forgets how many times he groveled to the repugs to meet and work out the issues. He even went to their caucus in the Capitol and they voted before he got there to object to everything. Where are the democrats to set these lies straight?

  29. The President is a good steward for this country, history will treat him kindly even if some of his former supporters don’t have the insight or foresight to see that right now. Add my thanks to ACD’s for the historical information.

  30. Here’s something about the Wikileaks that puts Obama in a good light:

    http://andrewsullivan.theatlantic.com/the_daily_dish/2010/11/the-nuts-and-bolts-of-diplomacy.html

    Fred Kaplan makes a powerful case that the Wikileaks documents show the Obama administration in a good light. How Obama got China and Russia to back sanctions against Iran:

    In the case of China, Obama dispatched Dennis Ross, a White House adviser who had been the Middle East negotiator for Presidents Bill Clinton and George H.W. Bush (but who had no post in his son’s administration), to persuade Saudi Arabia to guarantee that it would supply oil to the Chinese if Iran cut them off. As a result of that assurance, China signed up for sanctions.

    In the case of the Russians, Obama placated their distress over Bush’s plan to install missile-defense systems on Eastern European soil by canceling the plan. As a result of that move, which triggered a whole “re-setting” of relations between Moscow and Washington, Russia joined the sanctions as well. (Obama didn’t abandon missile defenses; he only relocated the interceptors onto ships, which had the additional benefit of clarifying that they really were aimed to shoot down Iranian missiles, not Russian ones.)

  31. Well, you know, when the president himself said that he didn’t reach them enough – i doubt there’s anything else even a non-lazy MSM could do. Bless his heart, he’s a much better person than me.

  32. What i “like” the most, is how they turn every bit of good news into something bad. If tomorrow will have 0.1% unemployment – they’ll pull their hair shouting why it is not 0.0.

  33. Anyone who expected Barack Obama to be a Lefty George Bush, obviously had no idea who they were voting for.

    And i’m sorry, but i worked just as hard to elect him, and i don’t claim any ownership on him. I knew exactly who i was voting for. I knew the pluses and the minuses.

    The irony is that they call us “Obamabots”, yet it seems like we’re the ones who actually knew who we were voting for.

  34. I think I am signed up now. I got an email from you, BWD. Thanks for doing the work to create this site.

    My son is still out of work but he may be taken on soon where he has been volunteering if they get the grant they are hoping for. My niece just got a job and hopes to move out on her own after the first of the year. Little by little we are in a recovery. I believe it!

    Thank you for keeping us positive, BWD!

  35. reply for bwd, you took the words right out of my mouth, I’ve never understood the “obamabot” label being applied to people who knew that the President didn’t have a magical wand and that progress would not be instantaneous. I knew who I was voting for too and he has exceeded my expectations.

  36. Hey, good luck to your son. I’ll keep my fingers crossed. I actually saw not one, not two, but three “Now Hiring” signs within half a mile today. Made me happy.

    Thanks for being here.

  37. It’s more like, “I’d hate to be a Republican AFTER that meeting”, because they’re now going to have to explain to their rabid Tea Baggers why they now think they can work with a President whom they’ve spent the last year demonizing, and saying that he’s trying to destroy the country with his “tyranny”, and so whimsically stating that they just can’t be sure that he was born in the USA. I don’t know how they sleep at night.

  38. Hi BWD, glad i have finally found you. I am so sad you left DKOS.

    Anyways your new blog is cool. I will be checking on you whenever i need my spirits up cos DKos is too darn depressing this days.

    Thanks for all you do!

  39. Just stopped in to share some good news!

    A federal judge in Virginia on Tuesday dismissed a lawsuit challenging the landmark healthcare law championed by President Barack Obama, upholding key provisions that require health insurance coverage.

    The challenge, one of several attempting to strike down the law, was brought by the conservative Christian Liberty University and individuals who said the law would violate several parts of the U.S. Constitution.

    However, U.S. District Judge Norman Moon ruled that the law requiring individuals to buy health insurance coverage as well as requiring employers to buy coverage for their employees was legal under the Commerce Clause of the U.S. Constitution.

    Moon found that without the coverage requirements in the law, the cost of health insurance would increase because the number of insured individuals would decline, “precisely the harms that Congress sought to address with the Act’s regulatory measures.”

    More here: http://www.reuters.com/article/idUSTRE6B000920101201

    Yeah baby!

  40. I loved FDL in the Plame days and was a regular. But they wanted Hillary and went south when Obama won and I left. I love the ease of this blog.

    I’v noticed that if I stay away from the poutrage I feel better less nerves and stomach pain.

  41. “The irony is that they call us “Obamabots”, yet it seems like we’re the ones who actually knew who we were voting for.”

    Exactly. My exact thought on election night was, “OK, now we finally made it to the starting line.” My teenage years were marked by watching President Clinton getting torn apart from the time he took office, and even prior to Monica Lewinsky seeing pretty much no Dems ever come to his defense. So I had no illusions as to what would happen, but those who sneer about the “messiah” the most are the ones who had the unrealistic expectations.

  42. I’m getting the feeling that, actually, the worst nightmare for these DK people you mention is that the President succeeds in pushing through the very agenda he campaigned on – you know, the one they enthusiastically supported. It’s all very odd.

    So thrilled you started your own blog BWD and left that damn place, you were too good and too smart for them.

    Love what you do.

  43. He also said that the road ahead would be long with setbacks and false starts. Just as many movements in our history progress us slow. People forget that the recovery after the depression took a nosedive until the stimulus of the war then GIs returning after the war with home loans etc put us back on the path to recovery.
    I am always impressed between similarities between Lincoln, FDR and Obama: all were pragmatic, changed policies when necessary and put up with strident often irrational opposition.
    Thanks for this blog: refreshing now to have all the faux outrage. Have you noticed there are a number of blogs which have a balanced approach and support OUR president?

  44. Hi Chipsticks. I’ve never met you, but BWD sings your praises often!

    I had similar thoughts about the Ranter’s inability to deal with Obama successes. They will deny and fight harder than ever before, the way we used to say Repubs act out when they fear losing.

    They are probably belittling us, but maybe somewhere in their just above lizard brains, they are threatened by the rightness of what we are doing. The Ranters doth protest too much that we are mindless ‘bots.’

    If the economy continues to turn around, I predict they will send rabble rousers over here, just as Rove supportedly did there.

  45. Hi kitty,

    Thanks for the compliment. And you are absolutely right to ask that question. Too many don’t understand where we were headed before Barack Obama took the helm. And then we have the screaming armies of the right and whining pony-demands from the left ideologues. Neither of them understand that there are no ponies and no magic wands, only hard work. Hard work that this President is putting in and this country is benefiting from.

  46. This shall not stand! Why must we insist on recovering? Don’t we know that if the economy recovers, the shouting idiots and bobbleheads on TV and the interwebs are going to look like, well, idiots? Who will think of them????

    Haha, ok, couldn’t resist. Thanks for this, BWD, and thanks for the link!🙂

  47. A similar thing is going on in Ireland as we speak. A two-tiered system was unfortunately set up with a private insurer, VHI, and those insured had “private hospitals” available – actually just the ability to jump the line and have a private or semi private room.
    As Ireland’s economy declined, so did the number of insured who could no longer afford the premium. VHI no longer has the base to cover the charges from the “private” hospitals and have put out a ultimatum to the hospitals to reduce their charges or else. Their only other choice to to raise premiums so high that they lose the rest of the members and go out of business. Time will very soon tell, but I think we are seeing the end of the two-tiered system as the hospitals can’t reduce charges and stay in business.

  48. for the far left especially for the far left cause me think the far right is a lost endavour i pray for them though to the so call far left change is happining all around infact it is happining qiucker than you think the only thing preventing u from seeing it is your ideology infact don’t know how is different from the tea party we are the change we have been waiting for how so true

  49. I agree with those who feel this site is “home.” There is so much common sense and sanity here that it’s actually a haven from the ugly, unfair, sneering and relentless stream of accusations hurled against our president in other places.

    BWD, your postings were always the ones I most looked forward to at DK. You’ve given us a great gift with this site and coming here has been a move toward health. And yes, I, too, knew what I was voting for with our president because I actually listened to what he said. He has not disappointed me.

  50. Saying hello. I’ve never been much of a Kossack, so I’ll be a stranger to most here, but I do notice a couple of friends (Hi, Lulu! Hi, Westcott!). I want to say the President has done an outstanding job, so far, and I can only imagine what more he might have accomplished had he the support of his so-called base. But no use crying over what might have been. Onward. I appreciate so much the mission of this site. Thank you for being here.

  51. Hi back atcha deaniac, I’ve missed you, remember reading somewhere that when the Obama team first got a look at how deep a hole this country was in, they were dumbstruck, they had no idea it was that bad. And when it comes to fixing this mess my bet is on the quietly determined guy not the shouters.

  52. can anyone give me the name of that book bwd suggested. I’m about to go to the bookstore, and i want to get it. It was about your Pres doing exactly what he said he was going to do.

    thanks

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