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...Certainly in the financial community what the governments are doing - they're making mistakes. In 1929 we had the stock market bubble pop, which was leading to a recession, but then the politicians all over the world made a lot of mistakes and turned what should have been a normal recession into a depression. I see the politicians making mistakes now, which may turn this into much much worse than it should be. The Federal Reserve and Treasury have more than doubled the American debt in the past three months. You and I are going to have to pay this...
...soldiers stay in Iraq, they will largely be out of the war-fighting game, focusing mainly on training the Iraqi army. Will that be enough to prevent Iraq from slipping back into sectarian civil war? Cautious optimists hope so. "Iraq is well on its way to becoming a normal Middle Eastern country, with all the good and the bad that that implies," says John Nagl, a retired Army officer who helped General David Petraeus draft the Army's new counterinsurgency manual. "As long as Iraq stays Page 26 news, that's O.K." But if anything goes wrong, it's going...
...Conservatives try to paint the NEA (pun intended) and its benefactors as the peace, love, and naked calligraphy crowd—ridiculous, immoral, and totally out of touch with normal Americans—ignoring the Endowment’s bipartisan past. It was Theodore Roosevelt (Class of 1880) who established the first arts-oriented federal advisory board, the Council of Fine Arts, and Dwight D. Eisenhower who created a national cultural center for the performing arts, which 13 years and a cultural revolution later opened its doors as the John F. Kennedy Center for the Performing Arts...
...normal times, getting an Infrastructure Bank through Congress would be impossible. "It is a direct threat to their way of life," says Norman Ornstein of the American Enterprise Institute. "It changes the dynamic of how you deal with earmarks," by taking the decision-making, and to some extent the credit, away from politicians. "I know one huge ally Obama would have on this," Ornstein adds with a laugh. "John McCain...
...contributions McCain's campaign received from the same sector. Traditionally, GOP candidates - who tend to favor higher military spending than their Democratic rivals - receive more donations from defense-company political action committees and employees. You might expect the tilt in McCain's favor to be even steeper than normal, given his 23-year Navy career - including nearly six in a Hanoi prison. Add to that the fact that his father and grandfather both served as Navy admirals, and his extensive service on the armed services committee. Not to mention the fact that Obama has no military background...