Word: republicanized
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Venue-shopping has been hotly contested in the past. When Congress was updating the bankruptcy code in 2005, Republican Senator John Cornyn of Texas proposed changes to keep more bankruptcies where companies do most of their business. Cornyn had a history with the issue: as attorney general of Texas, he loudly, though unsuccessfully, argued that the Enron bankruptcy should be moved from New York City to Houston so that workers who lost their jobs could watch and local creditors could more easily file claims. As the law now stands, firms can file bankruptcy where they're headquartered, where they...
...decision to create $250 billion in new SDRs marks a "major step" toward establishing the SDR as a global reserve currency, says Stiglitz. It's only a step, albeit enough of one to prompt Republican Representative Michele Bachmann of Minnesota to make the claim that Obama was out to ditch the dollar. Actually, the dollar would live on in an SDR-dominated world. It would no longer reign supreme, but neither would the yen or the euro or the yuan. Which might be the best long-run outcome the U.S. can hope...
...that rate, their number would be halved in five years. Because the drop-off predated the worst of the recession, the report argued, the decline showed that the get-tough policies passed at the end of the Bush Administration were working. Members of Congress like Republican Representative Tom Feeney of Florida were on hand for a press conference with the report's authors. He celebrated the end of "perverse incentives" that had kept illegal immigrants in the U.S. "Obviously," Feeney said, "illegals are getting the message." (Watch TIME's video "Blocking the Border Fence...
Since the new administration took office, Republicans have been seemingly bereft of ideas for fixing the economy. House Speaker Nancy Pelosi may not have been as nurturing of bipartisanship as some would have wanted in finalizing the stimulus bill in the House, but the final product included enough tax breaks to warrant support from a significant portion of the Republican caucus. That only three Republicans between the House and Senate voted in favor of the bill only made them seem like obstructionists in the eyes of the American people...
...politics would work pretty well, also. Because it solely benefits workers making $106,800 or less, it should be a no-brainer for congressional Democrats. Yet Obama could very conspicuously present it as a Republican idea. Would the Republicans run from it on the pretext that we are now too covered in red ink for it to be “fiscally responsible”? Or will they pose for those smiling photographs with Obama that will do little for their own political standing and make Obama seem even more above the partisan fray? Either way, Obama will emerge...