President George W. Bush
has bestowed on his intelligence czar, John Negroponte
, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register
, dated May 5, 2006, that was opaque to the untrained eye
Bush says tax cuts stimulate the economy. Unfortunately, he's fallen more than 2.2 million jobs short of the projection made by his own economists.
Drowning the government in a bathtub
- "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub."
Thus spoke Grover Norquist, of Americans for Tax Reform
. "The lunatics are now in charge of the asylum"
, quipped the conservative UK Financial Times
. Hardly, says Paul Krugman
. The strategy?: "Instead of challenging popular liberal programs directly, the Republicans are creating fiscal conditions that make those programs unsustainable." [lead post, Am. Prospect]. In other words, the 400 billion dollar deficit
, coupled with the Bush tax cuts, is designed to shift the obligations of the Fed onto the States
and, later, to cause a fiscal train wreck after Bush is out of office.
Is the currency that oil is denominated in the real reason for the Iraq War?
"The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 80 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro. (Note: the dollar declined 17% against the euro in 2002.)"
"Nobel Prize-winning economist Joseph Stiglitz talks about the corporate looting spree and Bush's woeful mismanagement of the economy."
"The fiscal mismanagement of the current administration -- leading to a change in the fiscal position of the United States over the past year -- is absolutely phenomenal; going from huge surpluses to huge deficits and the deficits are probably going to be larger than people anticipated."
isn't this exactly opposite of what we're being told? I'm always hearing the wealthy are benefitting somehow from GWB's new tax plan. I'm certainly no-where near the top 5%, and now I don't want to be.