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What a difference a year makes. The first time President Obama appealed to Congress to pass a stimulus package, in January, he went with arms outstretched, seeking "solutions that advance not the interests of any party or the agenda of any one group but the aspirations of all Americans." He was, in no uncertain terms, courting Republican cooperation...
...Tuesday, by contrast, when he asked Congress for a second major stimulus effort in a speech at the Brookings Institution in Washington, he arrived ready to rumble. In place of extended arms, Obama accused Republicans of presiding "over the decision-making" that led to the financial crisis and then handing it "over to others to solve." He decried his GOP opponents for "waxing political about fiscal responsibility," adding, with an uncustomary bit of sharp sarcasm, "It's a sight to see." (See the 10 greatest speeches of all time...
...President's logic is at odds with the initial premise of TARP, which was sold to Congress as a loan program that would be mostly paid back to the Treasury, where its proceeds would be used to pay down the deficit. "The $700 billion program we have proposed is not a spending program," former Treasury Secretary Hank Paulson explained before Congress in September 2008. It didn't take long for Republicans to take that position. "The stimulus money clearly was a spending bill. TARP was a loan - a loan to be paid back. And we know that a number...
...Those specifics will no doubt come out over the next few weeks and months as Congress attempts to pass a series of large spending bills, which could include a number of the programs that Obama announced. "One of the central goals of this Administration is restoring fiscal responsibility," he said in his speech. But as long as the economy continues in its fragile state, that goal will remain secondary to the more immediate task at hand. Which means that Obama's calls for government spending will keep being met by Republican cries of hypocrisy...
...tally shows Morales, now 50, winning re-election with 63% of the vote, almost 10 points better than his 54% showing four years ago. He defeated his closest opposition candidate by 40 points. His party, the Movement Toward Socialism (MAS), won two-thirds of the seats in Bolivia's Congress. As a result, said Morales, "I am obligated to accelerate the pace of change." The statement was sure to buoy the indigenous majority that makes up his base while vexing the more conservative white minority he has sometimes violently butted heads with...