fiscal crisis

In the next few decades, promised federal spending threatens to drown the U.S. economy. It could make the financial bailout seem cheap.

Last week, as White House officials were making the rounds on Capitol Hill to sell their $700 billion Wall Street bailout plan, Sen. Chuck Schumer (D-N.Y.), a member of the Senate banking committee, made a vow: “We will not Christmas-tree this bill with extraneous amendments.”
Right.
Last night, the Senate passed a modified version of the administration’s [...]

Mortgage Insider tallies up the carnage among subprime lenders since the foreclosure crisis began — and it’s grim:
The list of major subprime lenders for 2006 and 2007 resembles the casualty roster from the Battle of Verdun in World War I. Only difference: way fewer walking wounded this time.
Of the 30 biggest subprime home lenders in [...]

Forty years ago, in September 1968, the North Vietnamese launched the Tet offensive — which changed mainstream America’s view of the Vietnam War. In living rooms across the nation, Americans saw a gruesome display of how powerless the United States forces looked as they struggled to gain control over a millitary conflict they would not [...]

Holy instant gratification! SurveyUSA already has polling data on public reaction on whether Friday’s presidential debate should be suspended. They surveyed 1,000 Americans. The poll has a margin of error of plus or minus 3.2 percent.
Reason provides a summary:

Part 2: The U.S. Treasury has been able to print dollars to service its own debt, but with the rise of the euro and yen, this may change.