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...Where has the government been? Remember Ronald Reagan's mantra: Regulation is bad. The Reagan, Bush I and Bush II administrations believed in three main things: deregulation, tax cuts that provide little relief for most Americans and government subsidies for huge corporations. John McCain now has a "comprehensive" plan for the economy that begins with firing the chairman of the Securities and Exchange Commission. Yet in September his initial response to this crisis was, once again, to make the Bush tax cuts permanent and to increase Federal Government support for corporate America. Maybe McCain hasn't noticed, but this...
...help voters understand complex issues. After all, that's how you earn what the Declaration of Independence calls "the consent of the governed." As the financial crisis has deepened, Washington has done a downright lousy job of explaining things--of connecting the dots between Wall Street and Main Street. The simple fact is that almost every American--whether it's through his pension or her business or his 401(k)--is deeply affected by failures in the banking system. Time has been telling this story for the past several weeks, and in this issue, the cover story by the acclaimed...
Where has the government been? Remember Ronald Reagan's mantra: Regulation is bad. The Reagan, Bush I and Bush II administrations believed in three main things: deregulation, tax cuts that provide little relief for most Americans and government subsidies for huge corporations. John McCain now has a "comprehensive" plan for the economy that begins with firing the chairman of the Securities and Exchange Commission. Yet in September his initial response to this crisis was, once again, to make the Bush tax cuts permanent and to increase Federal Government support for corporate America. Maybe McCain hasn't noticed, but this...
...compromised on that. They released the $700 billion figure without making it clear that the Treasury can eventually get most of the money back or even turn a profit if the economy rebounds and those loans become less toxic. And while they keep repeating that the plan will help Main Street as well as Wall Street, they didn't make the case until all was nearly lost that the credit crunch endangers loans for cars, homes, farms and businesses--which in turn endangers millions of jobs and pensions. "I begged them to explain this to the guy on his couch...
...late 1950s, bureaucrats actually hired an oil-industry lawyer--with the big oil companies paying his expenses--to write the new state's oil and gas lease laws. Palin's populist approach was the perfect complement to rising public discontent with Big Oil, and it was the main engine of her remarkable rise from small-town mayor to a place on the Republican national ticket...