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The Economy Sucks |
| 3/17/2008 6:18:07 PM |
Bear Stearns, the titan of Wall Street, was once worth $20 billion. By last Friday, it's stock was selling at $30 a share and this week it was purchased by J.P. Moran for $2 a share, a total value of $236 million. They either had to sell or file for bankruptcy. How could J.P. Morgan absorb all the bad debt that's driving Bear Stearns into the sewer? Easy. The Fed is... Read More |
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The Bush Library and Institute |
| 2/29/2008 8:42:08 AM |
Southern Methodist University (SMU) in Dallas is going to house President Bush's $200+ million library. (Houston Chronicle) It's going to have a "public policy institute." Faculty, administrators, and staff are and have been protesting. One criticism is that the institute is going to be "affiliated" with the university but is not subject to academic governance. In other... Read More |
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Congressional Hearings |
| 2/14/2008 12:21:41 PM |
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Oh, my God. The shock. The hand-wringing. The outrage. What are we gonna do?
The House Oversight and Government Reform Committee, chaired by Henry Waxman (D, CA), spent the whole day yesterday having hearings on the Mitchell Report. Former senator George Mitchell (D, ME) did a 20-month investigation on the use of performance-enhancing drugs in baseball. Roger Clemens was... Read More |
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The Bush Budget |
| 2/5/2008 3:04:08 PM |
Bush has released his budget request for fiscal year 2009. The Federal Fiscal Year (FFY) runs from October 1st to September 30th. As predicted, his budget is for $3.1 trillion and he projects it will leave a deficit of more than $400 billion in both fiscal years. This budget represents the most irresponsible spending since Ronald Reagan and even surpasses that.
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Clinton vs. Bush |
| 1/28/2008 2:57:42 PM |
The Democratic Caucus issued a "Then and Now" comparison of the U.S. under Clinton and under Bush. It's pretty dramatic. Among the most striking differences are the following.
Real GDP growth over the 8 years of Clinton's presidency was 4.09%. Over the past 7 years of Bush's presidency it has been 2.65%.
Clinton created an average of 1.76 million jobs per year. Bush has created... Read More |
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The New NIE Report |
| 12/4/2007 6:24:20 PM |
The most recent National Intelligence Estimate (NIE) report concludes that Iran shelved its nuclear weapons program over 4 years ago. The declassified version says: "We judge with high confidence that in fall 2003, Tehran halted its nuclear weapons program." Who writes the NIE?
The NIE is a report put together by the U.S. Intelligence Community which includes: Central... Read More |
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National Debt Limits |
| 9/28/2007 9:07:24 AM |
The Senate has now approved an increase in the limit of U.S. national debt. The House approved the increase a while back. Our limit is now $9.815 trillion. (Reuters) While this is shocking enough, a look at the recent history is really interesting. When Ronald Reagan took office, the national debt was $935,100,000,000. By 1987 the debt limit had... Read More |
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