Jaime Fuller

Jaime Fuller is a former associate editor at The American Prospect

Recent Articles

Long Time, No See Payroll Tax

Today's Balance Sheet: It's the most wonderful time of the year, the payroll tax cut extension deadline, again.

The payroll tax cut extension passed by tooth and nail at the end of 2011 expires at the end of February, and this month's battle to work out the re-extension's logistics looks like it will be just as painful. A 20-member conference committee is hammering out the details, with three hearings scheduled for this week, including one this morning. The committee has less than three weeks to craft a deal and get it to Congress for passage before the President's Day recess. The two parties are fighting over the same territory they did in December—Democrats want a millionaire surtax and want to keep unemployment insurance untouched, Republicans want to freeze federal workers' pay, impose higher premiums on upper-income Medicare beneficiaries and ban millionaires from receiving jobless benefits. As of right now, neither side will budge. If legislators tread the same ground as they did two months ago, we'll see another payroll showdown at the end of the year. Senator Max Baucus told Politico...

Obama's Mixed Signals

Today's Balance Sheet: Obama needs a good nine months more of good news if he wants to win reelection. 

Before all eyes in the country turned to football last night, President Barack Obama told Matt Lauer in his annual pre-Super Bowl interview that he "deserve[s] a second term.” He went on: “We’ve made progress. The key right now is to just make sure we don’t start turning in a new direction that could throw that progress off." It's impossible to hear these words without thinking of the 243,000 new jobs added in January—very good news for an administration whose future rests on the capriciousness of the global economy over the next few months. The wealth of good news has also led to a jump in Obama's approval rating and, for the first time, Obama holds a significant edge over Mitt Romney in a hypothetical match-up; if the election were held today, Obama would win with 51 percent of the vote. However, the burst of economic confidence doesn't mean Obama's re-election is preordained. There are still nine months to go until the polls close, and the potential for things to go wrong is still...

Sell By Super Tuesday

(AP Photo/Evan Vucci) Republican presidential candidate and former House Speaker Newt Gingrich holds a press conference after losing the Nevada caucus. T o no one’s surprise, Mitt Romney repeated his 2008 performance in Nevada with a double-digit win last night. Given the poll numbers, which had the former Massachusetts governor leading by up to 20 percent, Romney’s victory was nearly preordained. As expected, exit polls showed that Mormons, who made up about a quarter of caucus-goers and voted for the candidate by a 90 percent margin, helped propel Romney to victory. But the candidate also led among other key demographics in the state, including evangelicals, Tea Party supporters, and voters who said they wanted someone who could beat Barack Obama. All that's troubling news for Newt Gingrich, who in his post-caucus press conference—an odd choice of format given the candidate's love for a rallying crowd and antipathy for the media—tried to bill himself as the authentic, conservative...

+243,000 Jobs in January

Today's Balance Sheet: January's jobs numbers came out today, and they were way better than anyone expected. 

The Bureau of Labor Statistics released January's jobs numbers this morning, and the economy added 243,000 jobs last month. Unemployment dropped from 8.5 percent to 8.3 percent—the lowest the rate has been in nearly three years . Forecasts had predicted that the economy would only pick up 150,000 jobs, so this morning's news is a unexpectedly good. The White House is probably cheering January's hiring surge—the incumbent president's chances at reelection hinge on the growth of the economy. The Latest A Fistful of Dollars The Economist White House Offers Plan to Lure Jobs to America The New York Times Wall Street Split as Money Managers Fault Bank Foreclosure Deal Bloomsberg Businessweek I Paid $4 Million for This? Moneybox ​ Chart of the Day Once Facebook raises the $5 billion for its initial public offering, the company is expected to have a market valuation of $80-100 billion. The company has a very different structure than other companies of similar worth—with only 3,200 staff,...

Facebook and Wall Street: It's Complicated

Today's Balance Sheet: Mark Zuckerberg "likes" Morgan Stanley.

Facebook filed for its initial public offering yesterday. The internet behemoth could be valued between $75 billion and $100 billion, making its IPO one of the biggest stock-market debuts in U.S. history and netting founder Mark Zuckerburg up to $28 billion . While Facebook is a company defined by its users, the company decided not to follow Google's example of holding a dutch auction. Instead, shares are likely to be offered to clients only on Wall Street. Morgan Stanley won the lead underwriter position in a close race against Goldman Sachs, which Bloomberg Businessweek characterized as "having to choose between a leech and a tick for a medicinal bloodletting." Although a Wall Street-brokered deal is nearly guaranteed to reap big rewards for investors, critics don't see the move as lining up with Facebook's egalitarian image. “I’ve always interpreted their values to be about openness and transparency, and there is nothing less transparent than having five bankers set the price of...