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...Administration," which owns a 61% stake in competitor General Motors and an interest in Chrysler. Under questioning from Democratic Representative John Dingell of Michigan, Lentz denied that the company believed politics helped spur the inquiry. Other reports, however, suggested that Toyota - which has 172,000 U.S. employees and a well-oiled Capitol Hill lobbying operation that has spent nearly $25 million over the past five years - could just as easily be the beneficiary of government favoritism as the victim. (See "Who Benefits from Toyota's Recall Problem...
...Meanwhile, Toyota has revealed it had received a federal grand-jury subpoena over its management of safety issues, as well as a Securities and Exchange Commission subpoena asking it to produce documents related to its "disclosure policy and practices." As its president acknowledged, the company is speeding toward a reckoning. "I myself, as well as Toyota, am not perfect. At times, we do find defects," he said. "But in such situations, we always stop, strive to understand the problem and make changes to improve further." It's not clear the company has done that in this case, and in failing...
...spending but gives the military a pass. That's because spending on the military and homeland security, following 9/11 and the launch of two wars in its wake, has become sacrosanct. But it's too bad - because there is plenty of money to be saved by lopping off the well-marbled fat that clings to the $700 billion the U.S. spends annually on national security...
...repeat that: even without a superpower rival like the Soviet Union - with its arsenals of nuclear weapons, fleets of tanks and armadas of warships, all manned by 10-foot-tall Red Army troops - the U.S. is now spending more preparing for war against, well, who knows, than we spent readying to fight Moscow. And the Obama Administration has made it clear that defense spending is going to continue to increase, even as fiscal pressures - for bailouts, health care, infrastructure - inexorably mount...
...especially if Democrats can keep winning votes. And in the meantime, Democratic Senators are riding high on their one - at least on paper - bipartisan victory. "I hope that a few of those Republicans who decided to vote to move the process forward on job creation would do so as well with health care," says Senator Bob Casey, a Pennsylvania Democrat. "Because we have an opportunity to move forward now. Everyone's at the table, and there's no excuse anymore...