Word: congressed
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...banks are allowed to market the toxic assets back up to their original precrunch prices or close to them, that would give the Obama Administration political cover: Treasury can come in and underbid the value of the toxic assets, declaring before Congress and the taxpayers that it is driving a hard bargain with the banks...
...research is clarifying the ice-cap question - and the results are sobering. Scientists at the Climate Change Congress in Copenhagen this week presented a study estimating that sea levels could rise globally by 1 m or more by the end of the century, with large regional differences around the world. At the lower end of the estimate, scientists say it's unlikely that seas will rise less than 50 cm even if we can get a grip on carbon emissions. The revised predictions are due to better data on melting in Greenland and Antarctica and from glaciers around the world...
...economic strength tomorrow depends on the quality of education American children receive today. President Obama’s proposals represent a courageous effort to put the needs of the next generation ahead of the demands of a special-interest group. We hope that Congress will share his enthusiasm for reform and back the president’s commendable proposals. Though teachers’ unions may sulk, the Obama education plan has the potential to erase the culture of complacency that pervades too many of our schools. For that, it deserves a gold star...
...billion fund in June to help distressed mortgage holders. Then came $350 billion for the banks (and a little of that for the car companies), another $350 billion for the banks, $787 billion in economic stimulus and $410 billion in an earmark-packed spending package for fiscal 2009 that Congress passed on Tuesday. Dizzy? A little nauseous? So are the moderate Democrats in Congress who are usually the gatekeepers of the federal piggy bank - the same fiscal conservatives who helped lead the bipartisan coalition in the Senate that held up and scaled down the Administration's stimulus plan...
...struggling with how to embrace such a large budget on top of all the money that has already been spent; those who are up for re-election next year may be particularly inclined to vote against the budget because of voter anger, which thus far seems directed solely at Congress rather than the popular President. As a result, Obama and his Administration rarely let a day go by without underscoring their commitment to fiscal responsibility - just as soon as they can afford it. "Of course, like every family going through hard times, our country must make tough choices," Obama said...