What’s going on – News Roundup

Posted on February 16th, 2009 by ecthompson
Early Monday Morning News Roundup
  • The stimulus package has passed the House and the Senate and awaits the president’s signature. If you think the fight over the stimulus package is over, you’re wrong. There’s plenty more fighting to do. As Obama and his administration begin to look at the housing and the banking crisis, look for Republicans to harp back on this stimulus bill to try to retard progress. Lindsey Graham and John McCain, along with a host of other Republicans, hit the Sunday morning talk shows to criticize “wasteful” government spending.
  • Paul Krugman makes an excellent point. The average American lost money during the Bush administration. I talked about this four years ago, looking at median income. The Federal Reserve released a report called Survey of Consumer Finances, revealing that Americans’ net worth decreased during the Bush administration. This is in spite of the fact that we were told we did not have to worry about our low savings rate because most of our net worth was tied up in our houses… and home prices “always” go up. It’s clearly time for us to get our house in order — pun intended.
  • Newly appointed Senator Ronald Burris may have misled Congress and the Illinois legislature. It appears that Governor Ron Blagojevich’s brother may have asked for campaign financing “help”. Marcy has three excellent posts on this new development (here, here and here).
  • Historians rank George W. Bush as one of the worst.
  • I’ve talked previously to my colleagues and to members of the North Carolina legislature about the absolute danger of scooters. I doubt that my ramblings had any influence, but it seems now that North Carolina is looking at a law to restrict scooters. From a trauma standpoint, this only makes sense. Many people who lose their licenses begin driving scooters. A lot of these people have made poor choices in the past and continue to make poor choices (like driving while intoxicated). There’s a nice article in this morning’s Citizen Times.
  • There may be some room for negotiations with North Korea.

More later…

Tags: Budget, Economy, North Korea, Obama administration // View Comments

  • Patrick Fitzgerald doesn't have a rep for grand standing. He isn't really partisan.

    You are very correct that many bright economists predicted great times throughout the bush administration. they stated that we didn't need to worry about our low saving rate because our houses were making money for us. Oops they were sooo wrong.

    Thanks again for your thoughts.
  • ecthompson
    Patrick Fitzgerald doesn't have a rep for grand standing. He isn't really partisan.

    You are very correct that many bright economists predicted great times throughout the bush administration. they stated that we didn't need to worry about our low saving rate because our houses were making money for us. Oops they were sooo wrong.

    Thanks again for your thoughts.
  • Megalomania
    Please understand that I have no connections for the support of Rollin Burris or Blagojevich. But I am in support to hope they win their defense of corruption charges brought upon them by the Republican Party. Plus hopefully Patrick Fitzgerald will be revealed for his grandstanding in the arrest of Blagojevich. It was all theater, politics and media sensationalism, typical of propaganda prosecution by a complicit media.

    Burris may have gotten tangled up in some of the rhetoric of the questioning but, I feel he was honest in this play for pay thing. The bottom line is no money is transacted between Burris and Blagojevich.

    The Republicans know it and the media know it. This is a moot situation, there is no guilt. Anyone can casually talk about anything over the telephone and loose an actuate tabulation of what or how many calls where made and for what. Heaven knows that the NSA wire tap program that is in question and plays right in this legal ease. If one does not know they are being wire taped do they remember? Likely not. Or were these wire taps done under NSA rather than FBI. Sheesh that would be a huge problem for Fitzgerald, can that be proved, or disproved?

    Some comment about the economy; face it for years America was blessed by Nobel economic prize winners but none of them understand what the heck happened to the economy and the banking industry, other wise America would have a plan that needs little debate.

    The real kicker is those twenty to thirty million aliens that pay Taxes and Social Security yet is unaccountable.

    Now we hear news that Al Qaeda streaming in handfuls across the border. Imagine the accumulated taxs of the decade likely runs into the trillions of fun money that was collected and not be accounted for. Sheesh what a chunk of corruption to give Obama, it is shameful.
  • Megalomania
    Please understand that I have no connections for the support of Rollin Burris or Blagojevich. But I am in support to hope they win their defense of corruption charges brought upon them by the Republican Party. Plus hopefully Patrick Fitzgerald will be revealed for his grandstanding in the arrest of Blagojevich. It was all theater, politics and media sensationalism, typical of propaganda prosecution by a complicit media.

    Burris may have gotten tangled up in some of the rhetoric of the questioning but, I feel he was honest in this play for pay thing. The bottom line is no money is transacted between Burris and Blagojevich.

    The Republicans know it and the media know it. This is a moot situation, there is no guilt. Anyone can casually talk about anything over the telephone and loose an actuate tabulation of what or how many calls where made and for what. Heaven knows that the NSA wire tap program that is in question and plays right in this legal ease. If one does not know they are being wire taped do they remember? Likely not. Or were these wire taps done under NSA rather than FBI. Sheesh that would be a huge problem for Fitzgerald, can that be proved, or disproved?

    Some comment about the economy; face it for years America was blessed by Nobel economic prize winners but none of them understand what the heck happened to the economy and the banking industry, other wise America would have a plan that needs little debate.

    The real kicker is those twenty to thirty million aliens that pay Taxes and Social Security yet is unaccountable.

    Now we hear news that Al Qaeda streaming in handfuls across the border. Imagine the accumulated taxs of the decade likely runs into the trillions of fun money that was collected and not be accounted for. Sheesh what a chunk of corruption to give Obama, it is shameful.
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