Every day we ask influential politicos to send us their top three bullet points that are driving the day's conversation inside and outside Washington.
Firedoglake.com Blogger/Founder Jane Hamsher:
RedState.Com Editor Erick-Woods Erickson:
- President Obama is giving a lot of fodder to the right today over his comments that ATMs cause unemployment. This is one of the longest lasting economic fallacies and has been written about by everyone from Adam Smith in the 1700's to Henry Hazlitt in the 1900's. Sure, an ATM may displace a worker at a bank, causing that worker's unemployment, but that unemployment is offset by new employment in the IT department, the manufacturing plant, the design firm, etc. If we are to believe that technical innovation causes unemployment, then we should have infinitely higher unemployment with each major invention from cars putting horse shoe makers out of work to light bulbs putting candle makers out of work. And yet. . .
- Of course, if we take Barack Obama at his word, his presupposition is that technological innovation causes unemployment. He said that. So if he believes that technological innovation causes unemployment and he wants the government to invest in and cause technological innovation in the green jobs sector, he must therefore want to cause unemployment in other sectors of the economy.
- The Democrats are telling the world that the GOP is about to cause a market crash because they won't raise the debt ceiling. The GOP has the public's support on this issue and needs to start making the case forcefully that the debt ceiling will not be raised without major spending cuts — a proposition the public readily agrees with, but the Democrats do not.
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