Word: democratism
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...state senator Vincent D. Fort, a Democrat, believes that in an era of state budget cuts, this is an issue best left to municipal governments. "Municipalities know best what revenues are needed and how they are needed," Fort told TIME. "Those officials, those school boards, those city councils are going to be held accountable by their constituents and [these caps aren't] helpful when state cuts are requiring cities to look at how to raise revenues. Localities need to be able to control their own property...
Will Rogers could count on a chortle whenever he said, "I belong to no organized party. I am a Democrat." But these are serious times: the same day the Senate convened with two Democratic seats unfilled (comedian Al Franken's microscopic margin of victory is being contested in Minnesota), Obama announced that the nation could soon face a trillion-dollar deficit. Instead of serious leadership, Congress gave us the Burris showdown--in which gall challenged sanctimony while insincerity vied with incompetence...
...Armageddon," as Governor Schwarzenegger has referred to the budget crisis; one of his solutions is a sizable tax on booze. "At a time we should be investing for our unmet needs and stimulating the economy, we're going in the other direction," says California state treasurer Bill Lockyer, a Democrat. "Every day, we go deeper in the hole...
...reporters after meeting with Obama on Tuesday. "Simply put, we should not bury future generations under mountains of debt and create 600,000 new government jobs." In the face of a crumbling economy and a bill that includes massive tax cuts, voting against it - for any member, Republican or Democrat - will be a very difficult short-term proposition, regardless of the long-term costs...
Madoff was supposed to come clean with his list of assets last week - it certainly should add up to more than $850 million - but so far there has been nary a public peep of the list. When, during the hearing, Representative Gary Ackerman, a New York Democrat, asked David Kotz, the Securities and Exchange Commission's inspector general, what Madoff's assets were, Kotz answered meekly, "We don't have that information." Ackerman finally badgered Kotz to agree to supply the total asset list publicly within a week. We'll see. (See the top 10 scandals...