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...that you've finished filing your taxes, here's another task sure to clog your calculator-tallying the cost of the auto bailout. With General Motors Corp. running through $10 billion in cash from the federal treasury during the first three months of 2009 and Congress poised to offer consumers substantial tax credits for new, more fuel efficient vehicles, the costs of helping the struggling automobile industry are mounting fast. Throw in special financing for auto loans supported by the Federal Reserve Board, and the aid for automakers now totals $83 billion-and it keeps growing...
...Next up: Congress is moving ahead with a special 'cash for clunkers' program that is supported by a broad coalition of auto dealers, trade unions, finance companies and auto manufacturers. The nearly completed bill, which President Obama has indicated he will sign, offers consumers credits of $3,500 to $4,500 to trade in old vehicles for new, more fuel-efficient cars. The incentive is expected to cost the government $4 billion and to boost sales of new vehicles by one million units. "We believe this will play an important role in driving demand and stimulating sales," says Ray Young...
...Alex Perry's story falsely characterizes the ANC as being in political and moral decline. Granted, South Africa is in the process of democratizing, and mistakes have been made, but the beauty of democracy is that it is inherently self-correcting. The formation of splinter groups such as the Congress of the People is a clear sign that, 15 years after liberation, South Africa's democracy still works and that the ANC will never monopolize power at the cost of democracy. Tshilidzi Marwala, JOHANNESBURG, SOUTH AFRICA...
...were sickened by photographs that surfaced showing U.S. troops abusing Iraqi inmates at Abu Ghraib prison in Baghdad. Act I resulted in an avalanche of congressional hearings, 15 Pentagon probes and courts-martial. More than 400 U.S. troops - but no senior officials - went to jail or were otherwise punished. Congress passed the Detainee Treatment Act to try to prevent future atrocities...
...know a fair amount about South Africa's new President as a man. Jacob Zuma has six wives and 19 children, and he has been tried for rape (acquitted) and corruption (case dropped). His party, the African National Congress, sells him as an affable consensus-builder and a champion of the dispossessed - and on both counts, it's true, he scores. But we know very little about him as a policy-maker. Zuma has consistently refused to answer questions of policy, describing himself as a cipher for his party. After he was elected President last month, that argument became...