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Sunday Roundup

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

This week, Christine O'Donnell appeared on a national news show to announce that she wouldn't be appearing on any more national news shows. Sarah Palin surprised no one by telling Fox News she would run for president in 2012 "if nobody else wanted to step up." (Her problem is that even her base doesn't see her as Oval Office material: she came in fifth in the Values Voter Summit straw poll.) Also not surprising anyone: Senate Democrats, who, fearing GOP attack ads, decided to put off a vote on extending tax cuts until after the midterms. In better economic news, Larry Summers announced he'll be stepping down as director of the White House National Economic Council. I've always felt Summers was the wrong man for these troubled times -- a brilliant mind with toxic ideas.

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

Turns out the Republicans were against raising the deficit until they were for it -- at least when it comes to extending the Bush tax cuts for the wealthiest Americans (a move that comes with a budget price tag of $700 billion over the next decade). Whenever they are asked to explain the contradiction, the suddenly-plucked deficit hawks -- led by John Boehner -- fall back on the canard that if the Bush cuts are allowed to expire, more jobs will be lost. This reveals a total lack of understanding about how jobs are -- and aren't -- created. Hint: it has nothing to do with the personal tax rate of the people running the business. It has everything to do with demand -- from consumers, advertisers, government contracts, etc. When businesses have more demand, they hire more people. Simple. Maybe Boehner can skip a few rounds of golf and take an Economics 101 class.

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

This week, House Republicans unveiled their alternative budget -- a wafer-thin proposal that contained no precise numbers. But the plan did have one big idea: a massive tax cut for rich people! Talk about being tone deaf to the times. While announcing what he called "The Republican Road to Recovery," John Boehner said, "Our economic plan amounts to less government, lower taxes and economic prosperity" -- forgetting, it seems, that the first two had been the GOP roadmap while in power the last eight years and had led to the exact opposite of prosperity. Elsewhere in the GOP, Michael Steele claimed that his many gaffes since taking over the RNC had actually been part of a master plan. "It's all strategic," he said. This coming from the guy in charge of strategy for the loyal opposition. Be afraid. I'm guest hosting CNBC's Squawk Box next Tuesday morning and I'd love your suggestions, which you can put in the comments to this post.