Yesterday's House debate on stripping Planned Parenthood of federal funding (aka the Pence Amendment) included a few bright spots, notably this moving, impassioned and dead-on speech from California Representative Jackie Speier. She didn't plan to talk about this, but after listening to Republican Rep. Chris Smith of New Jersey, who read aloud from a book passage describing how a second-trimester … Read More
My Views On The Budget Debate
It's quite simple. All I have to do is steal the first and last two paragraphs from Krugman: There are three things you need to know about the current budget debate. First, it’s essentially fraudulent. Second, most people posing as deficit hawks are faking it. Third, while President Obama hasn’t fully avoided the fraudulence, he’s less bad than his opponents … Read More
Borders Files For Chapter 11
Too bad. I thought they were doing well and had a good business model. The details: Borders Group Inc. filed for Chapter 11 protection Wednesday and said it will close about 30% of its stores nationwide in the coming weeks. The struggling operator of the Borders and Waldenbooks chains sought protection from its creditors in the U.S. Bankruptcy Court in … Read More
Doing It Old School
MSNBC: Sanders, currently in his fifth sixth hour of speaking on the Senate floor against the Obama-crafted tax cut compromise with Republicans, is getting lots of web buzz from filibuster enthusiasts and progressives irked at the president for cutting the deal. An independent who caucuses with Democrats, Sanders has threatened to speak out against the extension of cuts for the very … Read More
In Which I Weigh In On The Obama Compromise Tax Plan
No, of course I don't like it. What was Obama thinking???? Here, in a nutshell, is the deal that Obama worked out with the Republicans: In exchange for a two-year extension of all the tax cuts — including those for households making more than $250,000 per year — the deal includes a 13 month extension of unemployment benefits, a two percent cut … Read More
Christine O’Donnell On The Extension of Unemployment Benefits
It's sad that she lost the election and had to return to the witch's coven, because Christine O'Donnell would have been, well, lots of fun. Not that's she not fun now. Facing irrelevancy, O’Donnell is forming a new issues-oriented political action committee called “Christine PAC”. At a launch event for the group in Virginia yesterday, O’Donnell called the extension of jobless benefits a … Read More
Palin Doesn’t Buy The Groceries
Sarah Palin, earlier this week, complaining that the Fed's monetary policy will drive up inflation:: All this pump priming will come at a serious price. And I mean that literally: everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher." Yeah, um, except the truth is … Read More
The New House Republicans Off To A Great Start
Press release from the Republican Study Committee: FOR IMMEDIATE RELEASE 11.8.2010 Tackling Spending: Save $25 Billion by Restoring Welfare Reform Washington, Nov 8 - With the national debt quickly approaching $14 trillion, Washington needs to get serious about cutting spending. One option the next Congress should consider is to restore welfare reform, one of the most successful bipartisan initiatives of … Read More
Elections Have Consequences
Remember Rep. Joe Barton (R-TX), the guy who — at the height of the spill — apologized to BP on behalf of America for the "tragedy" of the $20 billion clean up fund put together by the White House? Well, he's now your next chairman of the Energy Committee.
To Those Planning To Vote Republican Tomorrow….
before you do…. answer these three questions: Questions: What was the average monthly private sector job growth in 2008, the final year of the Bush presidency, and what has it been so far in 2010? What was the Federal deficit for the last fiscal year of the Bush presidency, and what was it for the first full fiscal year of … Read More
Arizona’s Illegal Immigration Law Explained
NPR got to the bottom of Arizona's much-discussed controversial anti-immigration law — the one would require certain aliens to have documentation with them at all times, and gives the Arizona police broad powers to stop and detain anyone who appears to be an undocumented alien. The Arizona law would undoubtedly send hundreds of thousands of illegal immigrants to prison in a … Read More
The Recession Is Over….
… on Wall Street, that is: Pay on Wall Street is on pace to break a record high for a second consecutive year, according to a study conducted by The Wall Street Journal. About three dozen of the top publicly held securities and investment-services firms — which include banks, investment banks, hedge funds, money-management firms and securities exchanges — are set … Read More
If The Middle Class Gets A Tax Cut, So Do Those Making > $250,000
Need we a reminder on how tax policy works? Okay. Here we go. Suppose Obama gets his wish, and keeps the tax cut for those making under $250,000. And let's say that he raises the taxes on those making $250,000 and from 33% to 36%. Let's say that your income is $250,001. How much more would you be paying in … Read More
Socioeconomic Warfare
Rush Limbaugh and his ilk like to accused progressives of starting a war against the rich. It's silly rhetoric. On the other hand, when I read things like this, I want to start a war against the rich: Charles Munger, the billionaire vice chairman of Berkshire Hathaway Inc., defended the U.S. financial-company rescues of 2008 and told students that people in economic … Read More
Dino
From The Hill: The following Democrats have come out in support of extending all of the George W. Bush-era tax cuts. A full extension of the tax cuts would include those individuals making more than $200,000 and families making more than $250,000. This list will be updated as more members make their position known. House: Mike Ross (Ark.) Ann … Read More