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    More Rules to Avoid Another Housing Mess

    As Congress mulls what it can do to untangle the housing mess, it should take care to limit its largesse to helping only those people who really need help. We’ve already noted that Washington shouldn’t rush to bail out vacation homes. Or frauds. Or lenders who winked at frauds and … More

    Reid Promises Votes on Three Circuit Court Nominees

    Three of President Bush’s circuit court nominees will finally get an up-or-down vote in the U.S. Senate after Majority Leader Harry Reid (D-Nev.) promised to end the obstructionism that had stalled action on judicial confirmations. Just last week the Senate voted for the first time in 2008 on five of … More

    Mortgage Mess Varies by State

    Members of Congress, including three presidential candidates, are competing to “do something” to stabilize the housing market and show compassion after the wave of foreclosures on risky subprime mortgage loans. The crisis talk clouds the national picture, obscuring the varied state-by-state impact of the mortgage mess. The chart above uses … More

    The Senate’s Glacial Pace of Judicial Confirmations

    For the first time this year the Senate acted on President Bush’s judicial nominees, confirming five yesterday, including one appellate court nominee, in what can best be described as a miracle given the glacial pace Judiciary Chairman Patrick Leahy (D-Vt.) and Majority Leader Harry Reid (D-Nev.) are moving. Not since … More

    What Congress Can’t Seem to Understand

    The White House isn’t buying the Senate housing bill. As Benton Ives reports in Congressional Quarterly, President Bush is not too thrilled with the bailout proposal. Why? “The bill will likely do more harm than good by bailing out lenders and speculators and passing on costs to other Americans who … More

    Pelosi Plays Political Games by Blocking Colombia Trade Deal

    House Speaker Nancy Pelosi today announced she will ask Democrats to alter the rules that would have required Congress to vote on a proposed Free Trade Agreement with Colombia in 90 days. In doing so, she and her liberal colleagues will alter the rules of procedure to suit their partisan … More

    Tax Credit Could Depress Housing Market Further

    Question: When is a $7,000 tax credit a problem? Answer: When it makes a bad situation even worse. And that’s just what might happen if Congress enacts a $7,000 tax credit for people who buy foreclosed homes. As Bloomberg News columnist John M. Berry notes, the misguided tax credit may … More

    Morning Bell: The Questions That Matter

    The report from Gen. David Petraeus and Ambassador Ryan Crocker to the Senate today could be a clarifying moment in the debate over Iraq if the right questions are asked. Unfortunately, it appears presidential politics will motivate the Senate’s anti-war candidates to ask only backwards looking questions that will not … More

    This Week in Washington: Keep Pork Out of the War Supplemental

    Here’s a preview of the week ahead in Washington. [youtube]http://www.youtube.com/watch?v=_ySXAXT2vaI[/youtube] Congress will soon consider a $100 billion emergency war supplemental. Some want to load it up with non-military proposals that have nothing to do with the war. Special-interest projects include unemployment insurance, funding for national parks and money for local … More

    Will Congress Prolong Economic Downturn?

    American businesses shed 80,000 jobs in March and 232,000 jobs in the first quarter of 2008, confirming that economy ground to a halt in the first quarter of 2008. The unemployment rate rose to 5.1% — the first time it climbed above 5% since September 2005 — although that’s still … More