This past week, Speaker Nancy Peolsi (D-CA) announced she wants to push another $50 billion in deficit spending through Congress for economic stimulus. This is on top of the $106 billion in stimulus payments the government is still sending out to Americans. This January Pelosi promised that the first $106 billion in deficit spending payments would create 50,000 new jobs. Former Treasury officials Ernest Christian and Gary Robbins report on how Pelosi’s promise turned out: By the end of June, $86 billion was in the hands of 105 million households. …
That’s not funny! This summer the left is hellbent on proving to the world they have no sense of humor. First, liberals had a conniption fit over a New Yorker magazine cover that featured a cartoon of Barack and Michelle Obama. Now, the bloggers and activists that make up the netroots have forced the Austin American Statesman to remove a satirical piece from their paper because they found it offensive. Warner Todd Huston reports: The original article by the Statesman’s Patrick Beach knocked the nutrooters for the so-called “surprise” Gore …
Anticipating legislative action on a bailout for Fannie Mae and Freddie Mac in the House tomorrow, the White House reaffirmed a veto threat Monday if the proposed package includes a money for state and local governments to buy real estate. Speaker Nancy Pelosi responded, “Let me get this straight. The president is asking us to do something quite significant on the housing crisis, and he is going to prevent local government from buying up these properties?” Pelosi’s statement exemplifies the mentality on the left that makes it essential conservatives and …
Last week The Hoover Institution’s Peter Robinson posted a chart at The Corner that he said could “only be termed, alas, Republican overspending—that is, the enormous increase in domestic spending during this administration, most of which, of course, took place while the GOP held not only the White House but both chambers of Congress.” Rising to defend President Bush’s record on spending, The Atlantic’s Ross Douthat responded: “[W]hen Bush took office, discretionary domestic spending accounted for 3.1 percent of GDP, and in 2007 it accounted for … 3.3 percent of …
Let’s Have Some Love for Nuclear Power – WSJ.com All over the world, nuclear power is making a comeback. British Prime Minister Gordon Brown has just commissioned eight new reactors, and says there’s “no upper limit” to the number Britain will build in the future… (tags: Energy) Economic Reality Check for Democratic Oil Rhetoric – The Tax Foundation There has been a lot of rhetoric from both parties with regards to what policies, if any, can bring down gas prices. John McCain has proposed one bad policy: a temporary gas …
AUSTIN, Tex. — Anyone who follows technology and politics knows the narrative: The right is lagging behind liberals online. Whether it’s breaking news on blogs, raising money on the web or mobilizing activists, liberals claim to hold an edge. It’s a story that has been told for nearly two years. And finally, it’s getting old. At a gathering here Friday and Saturday, attendees at Americans for Prosperity’s Right Online conference will show they are active players with a passion for technology. After months of planning, the two-day conference has arrived …
Al Gore, You Are No Jack Kennedy, Sir – The Chilling Effect Al Gore owes the Associated Press for a big, sloppy kiss comparing his new challenge to the mystique of John F. Kennedy. All we can say is, wow… (tags: Energy) 19 Times Bigger than Enron, and the Networks Didn’t See It Coming – Business & Media Institute Another billion-dollar taxpayer bailout is on the horizon with the trouble at Fannie Mae and Freddie Mac, but you won’t find much criticism of the mortgage giants… (tags: Housing) You’re in …
The Washington Post makes a great case today for separating the left’s long sought housing bailout bill with the more pressing debate over long term reform for Fannie Mae and Freddie Mac They write today: Democratic leaders in Congress plan to attach the Fannie-Freddie rescue to housing legislation already passed by the Senate and slated for House consideration. Strangely, though, both the Senate and House versions of the bill potentially increase the very risks Mr. Paulson’s plan is intended to mitigate. Both measures would encourage Fannie Mae and Freddie Mac …
Union Pension Report Taints “Take Back the Economy” Day – U.S. Chamber of Commerce WASHINGTON, D.C. — The U.S. Chamber of Commerce echoed concerns raised in a study released today by the Hudson Institute, finding serious under-funding among many union-sponsored… (tags: Economy) Fannie, Freddie Spent $200M to Buy Influence – Politico.com If you want to know how Fannie Mae and Freddie Mac have survived scandal and crisis, consider this: Over the past decade, they have spent nearly $200 million… (tags: Housing) Memo to Congress: We Can Handle New Media – …
Freddie Mac and Fannie Mae own or guarantee a combined $5 trillion worth of mortgages. To put the size of that liability into perspective, remember that total U.S. federal debt is $9.5 trillion and total U.S. gross domestic product is $14 trillion. They are simply too big to fail. The trouble that Freddie and Fannie are in, however, is not a failure of capitalism. Fannie and Freddie are both artificial government creations that use their big government advantages to distort the free market. They are both remnants of the Great …
