Stocks got slammed today. The Dow dropped 228 points as the much anticipated correction appears to be taking hold. Year-to-date, the broadest index, the S&P 500, is still up 3 percent, and the Dow is up 3.5 percent. Curiously, a $2 drop in oil did not rescue the market. But a lot of worries about China growth, a Spanish credit downgrade, and a widening U.S. trade deficit weighed down the market right from the opening trade.
It’s time for a quick update on the 2012 Senate and Governor contests. Even though only two months have passed since our January roll-out, a surprisingly large number of shifts have occurred.
Despite the dubious credentials of Rep. Peter King, R-N.Y., as an opponent of terrorism, owing to his years fronting for the Irish Republican Army, his controversial hearings on the "Extent of Radicalization in the American Muslim Community and that Community's Response" might still have proved useful. Had they included testimony from real experts, officials who are responsible for counter-terrorism and actual leaders from the Muslim community, the proceedings could have revealed fresh and important information.
The Social Security debate is no different than the debate over any other government program – there are just a lot more zeroes involved. Of course the more zeroes, the less willing Washington politicians usually are to confront the problem – particularly when so-called “guaranteed” benefits are at stake.
Someone is missing at the celebration for the Utah Compact on immigration. Who could that be?
What do they put in the water cooler over at NPR? First, they fire Juan Williams in October for comments he made on Fox News Channel -- and Vivian Schiller, the CEO of public radio, smilingly suggests he needs to have his head examined.
The media tend to be filled with many items that are either untrue or obvious. Last week -- from Politico to cable television, from Karl Rove to Mike Huckabee -- was a moment for the obvious to be stated and restated: "The GOP should not underestimate how hard it will be to defeat President Obama next November; indeed, he has to be considered the favorite to win the next presidential election." True.
Before we take an ax to the federal budget, let's try a scalpel. Many things done in one federal department or agency are also done in others, according to a new Government Accountability Office study. Even wonderful programs don't get better in the duplicate, triplicate or quadruplicate. By locating and excising them, taxpayers could save billions, the GAO suggests, with minimal loss of government services.
According to news reports, Team Obama and House Republicans are at least $50 billion apart in the budget negotiations for FY2011. I'm willing to bet that Team Obama and Senate Democrats won't agree to even $20 billion in spending cuts.
"America is not broke," filmmaker Michael Moore told a group protesting against Wisconsin Gov. Scott Walker's attempts to curb public employee union collective bargaining in Madison over the weekend.
The labor union movement is in deep trouble. Only 6 percent of private-sector employees are union members.
In recent national polling about the situation in Wisconsin, Rasmussen Reports and Quinnipiac found a slight plurality in favor of Governor Scott Walker and his efforts, the Pew Center found a plurality opposed, and Gallup and the New York Times reported strong opposition.
Last month, the website Politico reported that the Department of Justice dropped its representation of former Defense Secretary Donald Rumsfeld, his former deputy, Paul Wolfowitz, and other defendants in a lawsuit filed by convicted al-Qaida operative Jose Padilla and his mother. The Department of Justice continues to represent Defense Secretary Robert Gates, but no longer the Bushies.
Big economic-growth stats are trumping oil prices and the Mideast tinderbox. In optimistic trading on Thursday, stocks soared nearly 200 Dow points. Oil barely fell to just under $102 a barrel. Know what? The market may be shouting out that the recent oil spike is not going to derail economic recovery.
My guess is that there was not a single member of the United States Supreme Court who was not personally appalled that the Westboro Baptist Church would target the funeral of a soldier who died in battle so they could get publicity for their anti-gay views.
If you are a normal, trusting consumer of American journalism, you might well have gotten the impression by now that the current attempt to break public-sector unions -- with its epicenter in Wisconsin -- is overwhelmingly supported by the nation's voters.
This week, Charlie Sheen owns network news. No wonder Americans hate the media.
It is already obvious that control of the Senate will be up for grabs in 2012, with Republicans needing just 3 or 4 seats to take control (depending on whether the GOP wins the presidency and, along with it, the vice president’s tie-breaking vote).
A decade ago, when our national debt stood at a “mere” $5.6 trillion, the federal government was already dramatically overpaying its employees to perform all sorts of non-core functions.
Sometimes you get an idea of the way opinion is headed by the phrases you don't hear. Case in point: In all the discussion and debate these past weeks about a possible government shutdown if Congress and President Obama fail to agree on funding bills, I don't recall having heard the phrase "train wreck."
