New Prager University Video – Did FDR End or Extend the Great Depression?

The latest from Prager University:

President Franklin Roosevelt’s “New Deal,” has long been credited with rescuing the nation from the Great Depression of the 1930’s. Lee Ohanian, Professor of Economics at UCLA, challenges this conventional wisdom in a provocative examination of FDR’s economic policies.
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The Truth About the Wisconsin Jobs Picture

At National Review, Christian Schneider has an informative piece on why Wisconsin’s job numbers have yet to reach Scott Walker’s promised 250,000 new jobs during his first term, and the truth should challenge the assumptions of Walker’s liberal haters. In particular, he notes that Wisconsin still has the fifth worst business climate in America, thanks to high personal and corporate income taxes. In other words, Walker and the legislature haven’t gone far enough in the direction that liberals blame for our woes…not that they’ll adjust either their positions or their invective accordingly.

However, that’s not to say there isn’t criticism Walker deserves. For one thing, this is why politicians should be very wary of pledging to deliver certain numbers by a particular date. It doesn’t matter if some wonk worked it all out on paper for you; there are always variables you can’t foresee and intentions that won’t pan out. Aren’t conservatives supposed to be the ones with the Hayekian appreciation that economies are too dynamic for total centralized comprehension?

For another, this is also why if Walker thinks he can gain anything by moderating, as he’s been signaling, he’s dangerously mistaken. Not only have his foes not given Walker any credit for not being as hard-right on taxes as he could be, now he also has moderation’s negative policy fallout to deal with.

Understanding Redistribution and Class Warfare in One Chart

David French includes the above chart in his excellent post on America’s dependency problem. It illustrates the true breakdown of federal income taxes by income level more intuitively than anything I’ve seen in recent memory. Everyone should spread it on their social networks and save a copy to their computers, phones, iPods, Kindles, etc. to keep on hand for sharing with friends who don’t know the facts. Because apparently the RNC and the Romney Campaign – the guys with money and ad space – can’t be bothered to produce something so useful themselves and get it out there…

Around the Web

Michelle Malkin has written the definitive takedown of Rick Perry’s disgraceful role in the Gardasil debacle. This guy’s even worse than you think.
Speaking of Perry, here’s his response to his Texan Tea Party critics: “A prophet is generally not loved in their hometown.” So we’re gonna beat an egotistical president with a guy who calls himself a prophet? Really?
On the other side, here’s a detailed analysis of what the job situation really is in Texas.
Some rich libertarians want to build their own utopian mini-nations on the high seas. Yes, really. To quote Allahpundit, “An isolated community populated by people desperate enough to work for less than minimum wage with easy access to weapons of all sorts sounds like quite a ride.” And don’t forget the drugs!
Abercrombie & Fitch offers to pay the cast of Jersey Shore to not wear their brand onscreen. If you’re too sleazy for Abercrombie & Fitch…wow.
Stogie has the debt crisis explained in just five easy steps.
A conference to get pedophilia mainstreamed? My favorite part of this story is probably the guy who complains that the studies the American Psychological Association relies upon “completely ignore the existence of” pedophiles – excuse me, “minor-attracted persons” – who “are law-abiding.” Er, if they engage in pedophilia, aren’t they by definition not law abiding?

Good Job News for Wisconsin

Well, what do you know:

Using seasonally adjusted data, the 12,900 private-sector jobs created in June marks the largest one-month gain in Wisconsin since September 2003. The state’s net new job gain for June is 9,500 jobs, more than half of the nation’s net gain of 18,000 jobs for the same month.

Somehow, I don’t think we can expect any gratitude – or apologies – to Scott Walker or state Republicans from those who’ve been heralding Wisconsin’s complete capitulation to the rich. 

So, How’s the Economy Doing?

As Tom Blumer explains, not so good. Read the whole thing for the details, but here’s the summary:
So, after considering civilian population growth, employment is a painful 4% worse. Also, after considering population growth, GDP is only 2% better. If you give each factor equal weight (why wouldn’t you?), the economy is 2% worse almost 2-1/2 years after Barack Obama’s term as president began. And this is all before considering the frightening and potentially economy-crippling debt overhang and unprecedented deficits as far as the eye can see that Obama’s stimulus and other programs largely created, which would obviously move the meter even further in the “worse” direction.