Word: socialism
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...there be light, again: 2:42 a.m. Power returned: 2008 Harvard-Yale Game Score: 10-0 Temperature at 2008 Harvard-Yale Game, in Farenheit: Really, really, really cold. Harvard real estate holdings: 4,947 acres Number of student centers: 0 centers Fall-term enrollment in Social Analysis 10: “Principles of Economics”: 812 students Harvard Endowment Loss: Over eight billion Length of Girl Talk’s performance: 20 minutes Number of times CEB representatives swore at the audience: A whole fucking lot. Harvard professors lost to the Obama Administration: 13 professors Yale professors lost...
Economic crises come and go, but entitlements are forever. The Great Depression eventually dissipated, but Franklin Roosevelt's crown jewel - the Social Security system - is still with us. And so it will be with the Obama Administration. The early headlines have been all about the President's efforts to repair the financial system and jump-start the economy. If he succeeds, he probably will be re-elected. But Barack Obama's place in history will be determined by the long-term structural changes he initiates, and his most important legacy battle is just beginning as Congress tackles the holy grail...
...That's the problem. The party's ideas - about economic issues, social issues and just about everything else - are not popular ideas. They are extremely conservative ideas tarred by association with the extremely unpopular George W. Bush, who helped downsize the party to its extremely conservative base. A hard-right agenda of slashing taxes for the investor class, protecting marriage from gays, blocking universal health insurance and extolling the glories of waterboarding produces terrific ratings for Rush Limbaugh, but it's not a majority agenda. The party's new, Hooverish focus on austerity on the brink of another depression does...
...would replace almost all the stimulus - including tax cuts for workers as well as spending on schools, infrastructure and clean energy - with a capital gains-tax holiday for investors. Oh, and it would shrink the budget by replacing Medicare with vouchers, turning Medicaid into block grants, means-testing Social Security and freezing everything else except defense and veterans' spending for five years, putting programs for food safety, financial regulation, flu vaccines and every other sacred government cow on the potential chopping block...
...many people are hurting. Samuel Wurzelbacher, better known as Joe the Plumber, tells TIME he's so outraged by GOP overspending, he's quitting the party - and he's the bull's-eye of its target audience. But he also said he wouldn't support any cuts in defense, Social Security, Medicare or Medicaid - which, along with debt payments, would put more than two-thirds of the budget off limits. It's no coincidence that many Republicans who voted against the stimulus have claimed credit for stimulus projects in their district - or that Louisiana Governor Bobby Jindal stopped ridiculing volcano...