Okay, this is probably what you most want to talk about tonight. The NFL season kicks off Green Bay v. New Orleans. (If you want to talk about “The Speech”, it’s right below this post.)

Tonight, after weeks of teasing, President Obama is set to announce his plan to turn around the economy. Yes, he had two years with a Democrat Congress to do it…but he apparently really means it this time.

Of course, he might just be focused now because he has to go through the trouble of getting reelected. In the minutes before he will talk incessantly about bi-partisanship, he sent this email to his supporters:

I’m about to head to the Capitol to ask Congress to act on my plan to put Americans back to work.

Before I do, I wanted to write you directly to remind you that the fight to create jobs — and provide the kind of economic security for middle-class families that’s been slipping away over the last decade — won’t begin or end with the speech I give tonight.

What happens will be up to you. In the coming days and weeks, it will be up to you to pressure Congress to act — or hold them accountable if they do not.

If you’re with me, let me know. And the campaign will make sure you are looped into our efforts to support this plan.

Talk to you soon,

Barack

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I don’t watch a lot of TV, but when I do, it isn’t usually cable news. Living, as I do, in new media, I’m already generally up to speed on what they are talking about. CNBC has good financial news, even if they do conflate the health of the stock market with the state of overall economy. CNN will give you an accurate pulse of the median views of the mainstream media. Fox will give you a moderate to very slightly center-right take on the day’s events. I always had a vague sense that MSNBC was very left-of-center. Last night, that vague sense was confirmed. But, I also realized that MSNBC lives in an alternate universe.

Today, it was reported that jobless claims spiked higher…yet again. The CBO reported that, through the last 11 months, the federal government has spent almost $1.3 Trillion more than it took in. European banks are on the edge of collapse and the entire world economy balances precariously on the edge of a global depression. If the US economy hasn’t technically yet entered another recession, it is only a matter of time before it does.

The housing market is set for another downturn. The number of Americans in the labor force is at historic lows. There is no prospect for economic recovery at any point in the future. I could go on and on, but you get the point. The economy is teetering on the edge of another collapse and government debt has so suffocated us that we are flirting with a period of permanent decline.

And yet, at last night’s GOP debate at the Reagan Library (!), neither John Harris with Politico nor Brian Williams with NBCMSNBCCOMCASTGE, asked a SINGLE question about these issues. Nothing about government spending, debt or the economy. Instead, we were treated to almost 90 minutes of questions on HPV vaccines, immigration, FEMA, TSA, welfare, poverty programs (more in need after 2+ years of Obama than ever) and science. Science?!?

Seriously, do John Harris and Brian Williams need an up-to-date calendar? Are they stuck in the 90s, when the economy seemed fine and all we had to worry about were so-called ’social’ issues, ’smart growth’ and school uniforms. We thought we were fat and happy then and could afford the luxury of the ’small’ issues. We aren’t anymore, but that is all they fed us. If I closed my eyes, I don’t know that I could have told you whether this ‘debate’ was for President of the state legislature.

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From Politico:

Just hours before President Barack Obama addresses a joint session of Congress on his jobs plan, Rep. Maxine Waters (D-Calif.) is demanding the nation’s first African-American president prove he cares as much about unemployed blacks as he does about Iowa’s swing voters.

“There are roughly 3 million African Americans out of work today, a number nearly equal to the entire population of Iowa. I would suggest that if the entire population of Iowa, a key state on the electoral map and a place that served as a stop on the president’s jobs bus tour were unemployed, they would be mentioned in the president’s speech and be the beneficiary of targeted public policy,” Waters said in a statement to POLITICO on Thursday.

“So, one question to be answered this evening is, are the unemployed in the African-American community, including almost 45 percent of its youth, as important as the people of Iowa?” Waters asked.

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“Science!”: Beyond the Pose, Mr. Huntsman, What Would You DO?

When that silver-haired Republican candidate weighs in on the ‘climate’ debate I want to stick around until the end of the video. I love that line, “Good heavens, Miss Nakamoto, you’re beautiful!”

Wait, that’s not Magnus Pyke?

Seriously. Mr. Huntsman, beyond the pose: what would you do? “Science!” is a talking point. More of a pose, really, of being the thoughtful man while its success depends on no more than Pavlovian nodding and clucking in response. Anything else ultimately arrives at the question Hunstman’s pose begs:

What. Would. You. Do.?

What’s your point? You’re down with the kidz on campus and your media base can rest easy because you’re not, you know, ‘crazy’ as you say? Or you’re going somewhere with this? Is it cap-and-trade? Kyoto? Kyoto II? Carbon (dioxide…meaning ‘energy’) taxes?

What? And after you answer that, well, without using the word “science(!)”, please then state why?

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From the Associated Press:

A federal appeals court in Virginia dismissed two lawsuits Thursday that had challenged the constitutionality of President Barack Obama’s health care overhaul.

The three-judge panel of the 4th U.S. Circuit Court of Appeals ruled in both lawsuits—one filed by Virginia Attorney General Kenneth Cuccinelli, the other by Liberty University—that the plaintiffs did not have standing to sue. The court did not delve into the constitutional issues.

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I give all but one of the GOP candidates an “F” for last night’s performance.

The very premise of the Republican presidential debate, hosted by NBC/Politico and broadcast by corporate welfare queen MSNBC proves that conservatives don’t understand the power the media is trying to exert over the next election.

It is an insult to the house of Reagan that MSNBC would try to pass itself off as a fair news organization with the eight Republican candidates giving the sneering, snobby and snide enemy a certain imprimatur of legitimacy.

The only reason the GOP is in a fighting stance in the 2012 presidential election is the Tea Party. The alternative narrative-drivers at MSNBC have spent much of the last two-plus years trying to frame millions and millions of patriotic and concerned Americans as violent, racist knuckle-draggers.

To dignify those habitual and unaccountable slanderers by appearing on that stage shows that apparently these Republicans and daily MSNBC punching bags don’t comprehend the scope of the media problem.

Barack Obama was elected due to the work of the media in 2008. Barack Obama will not cross the finish line in 2012 without the help of that same media–with MSNBC leaning forward as it pushes their wildly unpopular President from behind. (more…)

Much to the chagrin of President Barak Obama, Attorney General Eric Holder, and yes, even Big Sis, the “Fast and Furious” saga continues. Over a month after ATF supervisors William G. McMahon and William Newell were shuffled away from their supervisory positions in the operation, and more than a week after ATF Acting Director Kenneth Melson was reassigned, Congressman Darrell Issa maintains that the House Oversight Committee will continue their investigation.

Moreover, there is a growing interest in Fast and Furious among Americans at large, as more and more news of it reaches the public eye.

As result, even though U.S. Attorney Dennis Burke has resigned his post in Arizona and federal prosecutor Emory Hurley has been reassigned, Senator John McCain is calling for the Senate to jump into the fray and open an investigation overseen by the Homeland Security and Governmental Affairs Committee.

Oh, I almost forgot – McCain wants Holder and Big Sis to testify under oath.

Compounding matters for those who wish that Fast and Furious would simply vanish from the national memory is the fact that we know that hand grenades, whether in part or in whole, were also moved to cartel members via the border between Arizona and Mexico. And as with gun sales associated with Fast and Furious, these grenades crossed the border after the ATF failed to track both the grenades themselves and the man transporting them, according to the Wall Street Journal.

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From NBC Bay Area News:

FBI agents armed with search warrants descended this morning on bankrupt solar company Solynrda this morning.

The investigation comes after a request by the Department of Energy’s inspector general, FBI spokesman Peter Lee told NBC Bay Area News.

Agents arrived at 7a.m. and are examining the factory. Solynrda has a skeleton crew of 100 workers on the scene, closing the factory down. A CNBC photographer on the scene says the FBI has promised a press conference. An agency spokesperson at its San Francisco headquarters says he’s unaware of any such plans.

Solyndra filed for bankruptcy last week, shocking both workers and the Obama administration, which had given the startup hundreds of millions of dollars in low interest loans.

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From the Associated Press:

Hundreds of Longshoremen stormed the Port of Longview early Thursday, overpowered and held security guards, damaged railroad cars, and dumped grain that is the center of a labor dispute, said Longview Police Chief Jim Duscha.

Six guards were held hostage for a couple of hours after 500 or more Longshoremen broke down gates about 4:30 a.m. and smashed windows in the guard shack, he said.

(more…)

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On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by economic advisor Jim Johnston about tax policy, but first, we discuss last night’s Republican debate hosted by the always one-sided MSNBC, the ridiculousness of some of the questions from Brian Williams, the lack of a focus on the issues that really matter to Americans, and discuss who walked away the winner.

We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.

Related Links:

Erick Erickson: Perry vs. Romney
Perry Leads
In wide field, it’s Romney vs. Perry
Why the Market Crash? Downgrade or Threat of Tax Increase?
Jim Johnston at Heartland Institute

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The Obama Presidency by the numbers. (Hint: It ain’t pretty.)

Here’s a link to more than enough debate coverage, rather than pick winners and losers here, read some of what’s being said and discuss in comments of you’d like. If you feel strongly that your guy, or gal did best, someone is sure to come along and disagree. That’s politics. You’ll find additional coverage here. Here is a round-up of comments from some of your friends from Breitbart-opolis. The AP claims Romney and Perry twisted their records. They’re politicians, what else were they supposed to do? Duh!

Here we go again: Unemployment claims spike higher! Thank goodness, Obama is unveiling his big, awesome “JOBS PLAN” tonight. Not a moment too soon, since he’s likely to have another vacation or golf game on deck.

DOOM: Please to meet you, hope you guess my name.

U.S. stock futures are flat ahead of new data and Obama’s speech. Looks as though no one is expecting much but more of the same at this point. Economists have already thrown water on it, given leaks regarding a new Obama plan.

Nick Gillespie offers a reason why Barack Obama’s Keynesian stimuli hasn’t worked: They aren’t Keynesian. Now, its doubtful whether true Keynesian stimulus would work, but if Obama and the left can’t even correctly interpret Keynes…I think all the talk from the left about Keynes is simply to put a cloak of respectability on what is really just simple redistribution of income. Obama’s plan is to take money from productive workers, both current and in the future, and hand it to other levels of government and their union workforce and just…hope it all works out somehow.

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From the Associated Press:

Stocks edged lower in early trading Thursday after the government reported that claims for unemployment rose last week, a sign that layoffs are increasing.

First-time applications for unemployment benefits rose last week to 414,000. Economists had expected a slight fall to 405,000. The prior week’s estimate of new claims was also revised higher.

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Despite getting unreal low interests rates, the energy tech firm, Solyndra, closed up its doors, let 1,000 employees go and did absolutely nothing with the $535 million loan from its good friend, Barack H. Obama.

ABC News reports

The $535 million loan to Solyndra Inc., issued by the U.S. Department of Treasury’s Federal Financing Bank, included a quarterly interest rate of 1.025 percent, the government bank reported in July. Of 18 Energy Department loans cited in the bank’s report, Solyndra’s rate was lowest. Eight other Energy Department projects, each also backed by the Federal Financing Bank, came with rates three or four times higher, the report shows.

That treatment is in keeping with the history of the loan to the California solar panel maker, an arrangement inked in September 2009 with great fanfare — and touted, not long after, during a factory visit from the president. Monthly government bank reports filed since then reveal Solyndra’s rate as the lowest for any energy-related project in nearly every report; in every case its rate was well below that of most energy projects, which ranged from cutting-edge electric car makers to wind and solar ventures. …

Solyndra’s most prolific financial backer is George Kaiser, an Oklahoma oil billionaire who was a bundler of campaign donations for Obama’s 2008 race. Kaiser’s Argonaut Ventures and its affiliates have been the single largest shareholder of Solyndra, according to SEC filings and other records. The company holds 39 percent of Solyndra’s parent company, bankruptcy records filed Tuesday show.

It seems that Solyndra was a high risk firm to start, which adds even more questions as to how they were able to secure such a large loan at extremely low rates. Then again, the answers are not that hard to come up with.

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I recently posted four charts eviscerating Obama’s record on jobs.

My Cato colleague, Caleb Brown, has a good complement to those charts. He’s put together a short video looking at how government spending and regulation undermine job creation.

Caleb says he will be doing more excellent videos like this, which is very encouraging since there is so much more ground to cover – particularly when trying to educate people in Washington.

One thing he should explain is that jobs don’t exist without profits. As I explained in a New York Post column last year, employers “only create jobs when they think that the total revenue generated by new workers will exceed the total cost of employing those workers.”

This seems like an elementary observation, but it’s one that most politicians don’t seem to understand. Or don’t care to understand.

That certainly seems to be the case at 1600 Pennsylvania Avenue. The president will speak tonight and supposedly will propose a $300 billion plan. He’ll claim, of course, that this new “stimulus” package will boost growth.

But a look at the various components that reportedly will be in his plan doesn’t create a sense of optimism. Especially since it appears that he’s mostly recycling proposals that already have failed at least once.

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Cross-Posted: TobyToons.com (Conservative Political Cartoons)

For nearly three years as Americans have struggled through this Great Recession, President Obama has given speeches that relied on failed Keynesian economic theory and the politics of class warfare and envy. As his big government policies have spent this nation to the brink, the employment picture continues to worsen.

Tonight, President Obama will deliver a major economic address before a Joint Session of Congress. The MacIver Institute expects it will be more of the same rhetoric and promotion of government solutions we’ve been hearing for the last 3 years.

The timing of the speech also conflicts with the pomp and circumstance surrounding the kickoff of the 2011 NFL season. As a Packers’ fan and in the spirit of public service, I directed our staff to comb through the hundreds of speeches President Obama has already made to give you a concise two-minute preview of his latest ‘big speech.’

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Jimmy the Lesser is keeping up the family legacy:

Tonight, 8 candidates for the GOP nomination will gather at the Reagan Library for the NBC/Politico debate. While there have been other debates and forums, this has the feel of the first “official” one, possibly because it falls right after Labor Day. But, also because tonight Texas Governor Rick Perry will be on stage for the first time. In the few short weeks since he announced his run, he has vaulted to the top of the polls, looking like a potential frontrunner. His performance tonight will go a long way towards determining that. Look for lots of blood on the floor by the end.

My colleague John Nolte argues that all of the candidates have already lost by participating in an NBC/Politico debate. They are both unofficial media extensions of the Obama Administration and the DNC and will skew the questions against the candidates. The modern day version of “when did you stop beating your wife?” Alas, I think Nolte has an excellent point.

Anyway, The fun starts at 8pm EDT. (Even if the debate gets boring at times, remind yourself “I could be watching Obama right now.”) Check back throughout the night. We’ll have comments from other BIG editors and maybe even some polls. Let the games begin!
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