The 10-year Treasury yield fell to 1.87% Wednesday, an all-time low. But the economy eked out just 0.7% growth in the first half while unemployment remains stuck above 9%. If record low rates haven't helped so far, what makes anyone think even lower ones will?
Our problems are no longer monetary, if they ever were. They are fiscal — too much spending, too much debt, too much taxing. Until those failed Keynesian policies are reversed, nothing the Fed does will help.
Poll: Perry, Romney up, Obama down | |
Texas Gov. Rick Perry and former Massachusetts Gov. Mitt Romney are pulling away from the GOP presidential field, according to a New York Times/CBS News poll released Friday evening. Perry, at 23 percent, and Romney, at 16 percent, are the only two candidates with more than 10 percent support in the national poll, which was conducted from Sept. 10-15, after President Barack Obama announced his jobs proposal. Rep. Michele Bachmann (R-Minn.) and former House Speaker Newt Gingrich tied with 7 percent support. Twelve percent of respondents said they remain undecided, and half of those surveyed said they have some reservations about their favored candidate. Obama’s own approval rating was at 43 percent, a low for all the New York Times/CBS polls conducted during his presidency. His approval is sinking among groups like independent voters, women and people who live in suburbs. The poll also found dissatisfaction with Congress is growing to near-universal levels. Asked if members of Congress deserve re-election, only 6 percent of people said yes, while 84 percent said it is “time for new people.” Asked if their hometown member of Congress deserves re-election, only 33 percent said yes while 57 percent said it was time for a change. Asked if President Obama has “a clear plan for creating jobs,” 43 percent said yes, while 52 percent said no. But asked if congressional Republicans have such a plan, only 24 percent said yes, while 67 percent said no. The Times/CBS poll surveyed 1,452 people and has a margin of error of plus or minus three percentage points. | |
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