May 2008
7 posts
Why McCain's "Cap-and-Trade" Won't Work Nearly as...
With McCain now on board for a “cap-and-trade” system, it’s a certainty that we’ll have a president next year who wants to address global warming by imposing an overall cap on U.S. carbon emissions, which will drop annually. The “trade” part of the equation is that companies finding efficient ways to cut emissions can sell the unused portions of their permits to others. But look more...
The Cure for America's Chronic Recession
The biggest issue in the general election will be the economy. And despite what corporate cheerleaders and Wall Street optimists say, the economy is not reviving any time soon. We’re in a chronic recession, or worse. What to do? First, understand some history. From the 1930s through the 1970s, we assumed that the biggest economic challenge was to avoid recession or depression. The problem...
The Real Source of Gladiator Politics
I was on television recently, debating a conservative. It’s something I do fairly often. During a commercial break, the producer spoke into my earpiece. “A bit more energy,” he said. “What do you mean?” I answered, slightly hurt. I thought I’d been doing a fairly good job scoring points. “Rip into him. Only three minutes in the next segment and we want to...
Why Is HRC Hanging In There?
Three possibilities: 1. She believes she can still win. The Clintons have been written off and yet rebounded so many times (Bill Clinton’s reelection to Governor of Arkansas after the 1980 loss, the Jennifer Flowers crisis in the 1992 New Hampshire primary, the 1996 reelection victory after the debacle of 1994, the rise in Bill Clinton’s post-presidential stature after Monica and Marc Rich, to...
Why Credit Cards are Getting Away With It
The Federal Reserve reported recently that consumer credit — basically everything we all owe money on except our houses — rose more than 7 percent last month to $2.5 trillion worth of revolving debt. And the price tag is mounting daily as interest charges accumulate even though most Americans are pulling in their belts and economizing. For years, banks and the credit card companies...
A Housing Bill That's Better Than Nothing
The housing bill working its way through Congress is better than nothing, but not much. Already about one in twelve American families with mortgages owes more than their house is worth. And home values continue to slide – the Treasury Department estimates another 10 to 15 percent drop before hitting bottom. At this rate, by next year nearly one in four families with mortgages will be under water....
Hillary Clinton Doesn't Listen to Economists
When asked this morning by ABC News’ George Stephanopoulos if she could name a single economist who backs her call for a gas tax holiday this summer, HRC said “I’m not going to put my lot in with economists.” I know several of the economists who have been advising Senator Clinton, so I phoned them right after I heard this. I reached two of them. One hadn’t heard her remark and...
