Word: capitols
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Seven thousand miles away on the very same day, the Pentagon was firing a more old-fashioned round on Capitol Hill--a five-year, $2 trillion budget plan larded with cold war-era weapons. There's the Crusader howitzer, a cannon so cumbersome that in 2000 a presidential candidate named George W. Bush questioned its utility. And there's the F-22 Raptor, a fighter jet designed to challenge a Soviet air force that no longer exists. The Raptor could prove useful against other foes, but critics call it redundant; there are two other fighter designs in the pipeline...
...forces on the ground wielding high-tech targeting devices linked to precision-guided munitions in the sky--but the military seems slow to embrace these lessons. And Congress is unlikely to challenge the Pentagon's $379 billion request for 2003. With Bush riding high and wartime patriotism still ruling Capitol Hill, few legislators want to be seen second-guessing the Pentagon, even as it proposes a $48 billion boost for next year that is larger than any other nation's total defense budget. Wartime budgets inevitably require painful sacrifice elsewhere (Bush wants to limit the increase in domestic spending...
...other programs from 2002 to 2012. Polls show that voters, particularly baby boomers, are nervous about their retirement savings vanishing and aren't eager for tax rebates if it means pilfering from Social Security or Medicare. So Democrats are pointing out, as loudly as they can, that Bush and Capitol Hill Republicans are breaking the blood oath they all took last year to keep Social Security and Medicare in a lock box. Bush's budget "raids every trust fund in sight," complains Conrad...
...John McCain was having dinner with his fellow Senators in the Capitol on Tuesday evening, just before going to the House chamber to hear the State of the Union speech, he was called to the telephone. It was presidential counselor Karen Hughes, telling him that one of his pet ideas--expanding the national volunteer program known as AmeriCorps--was going to be appropriated by the President. In his address Bush would challenge each American to donate 4,000 hours of community service and would announce a new agency called U.S.A. Freedom Corps to marshal the effort. Freedom Corps builds...
...turned from a staid pipeline operator into an innovative energy-trading giant was imploding. Investigators for plaintiff lawyers tell TIME they are looking into allegations that investment bankers helped top executives like Lay and former CEO Jeffrey Skilling (who is also supposed to pay a visit to Capitol Hill this week) put so-called collars on their stock options so they would not lose money, no matter how low the stock sank...