Primary among the proposals in the Republicans’ “Pledge to America” is the promise to cut spending, slash taxes and shrink the government to restore the United States’ fiscal health. How do they intend to do it, and to end the United States’ debt and deficit problems?
As I’ve noted on the blog, since the government took over Fannie Mae and Freddie Mac in September 2008, their roles in the housing market have changed dramatically. They aren’t profit-motivated, but stability-motivated, a government liquidity instrument to make sure mortgages remain affordable despite the credit crunch and housing More…
Two messages worth noting from Treasury Secretary Tim Geithner’s interview with CNBC yesterday: (1) Although he was the head of the New York Federal Reserve in late 2008, he had nothing to do with the decision to pay $62 billion to Goldman Sachs and others through More…
Easily the most curious aspect of the AIG bonus scandal that captivated the country last March was that Sen. Chris Dodd (D-Conn.), who’d proposed to stop payment of those bonuses, took the fall when Treasury officials, behind Secretary Tim Geithner, swept onto the scene and altered More…
Why has MSNBC embedded one of its top on-air talents with Sarah Palin’s book tour? That’s a good question, but I thought Norah O’Donnell’s grilling of a young Palin fan was a fair use of the network’s time. O’Donnell asked Jackie (no last name given), who was wearing a More…
As Congress jousts over the effectiveness of the stimulus package to stir economic activity, it’s worth noting that homeowners — whose troubles are at the root of the economic crisis — continue to struggle. Nearly one-fourth (23 percent) of mortgage-paying homeowners nationwide now owe more on their homes More…
Code Pink activists went after Obama economic adviser Larry Summers this afternoon, bounding to the conference room stage where Summers was speaking and unfurling a banner behind his back that read “We Want Our $$$ Back.”
But the most fascinating thing about the episode — aside from the fact that More…
I just talked with Steve Moore, the Club for Growth founder and current editorial page writer for The Wall Street Journal, to get a sense of how dedicated free market conservatives were reacting to Republican demands for the AIG bonuses to be clawed back.
“The government is going to More…
From a statement just released by Senate Majority Leader Harry Reid (D-Nev.):
First, we are sending AIG a letter asking them to renegotiate the contracts that include these appalling bonuses. Second, if they don’t, Chairman [Max] Baucus [D-Mont.] will propose legislation to give this money back to the taxpayers by
Today, almost five months after the start of fiscal year 2009, House Democrats introduced an enormous spending package to fund much of the federal government in fiscal year 2009.
Not a typo.
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