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Despite a much hyped bipartisan agreement being reached on Sunday apparently it was still too much for some Republicans to stomach and enough of them voted no that they managed to kill the bill: A four-hour debate included impassioned pleas for and against the measure from Democrats and Republicans alike. Even some of those . . . → Read More: Republicans bail on the $700 billion bailout bill. Dow drops another 700 points. If, like me, your knowledge of economics is only slightly better than John McCains then you may be wondering just what the hell happened on Wall Street recently that has everyone freaking out. The New York Times Freakonomics Blog have kindly put together a F.A.Q. to help us out. The whole thing is worth a . . . → Read More: NYT on the Wall Street Meltdown, what happened, and why it’ll affect all of us. Eight years under the Bush Administration will leave America $407 billion in the hole: The budget deficit shot up 153% from last year’s shortfall of $161 billion. The government’s fiscal year ends Sept. 30. The agency attributes the jump to “a substantial increase in spending and a halt in the growth of tax revenues.” That . . . → Read More: Bush’s Presidential legacy: A $407 billion deficit. This is annoying to say the least: Most companies in US avoid federal income taxes – News from The Associated Press More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies, or 66.7 percent of them, paid no income tax, the GAO said. Combined, the companies had $2.5 trillion . . . → Read More: Almost two-thirds of companies in the U.S. don’t pay income taxes. I remember a couple of years back, I think it was shortly after Bush won re-election, an old friend of mine challenged me to consider the possibility that President Bush just might be a good thing for this country and, more specifically, for me. Some of you may recall that as it occurred here in . . . → Read More: Bush’s Legacy: Record debt of $490 billion for the next President to fix. Man, it’s a good thing we don’t have a tax-and-spend Democrat in the White House. Who knows what kind of an outrageous budget proposal they’d submit to Congress? Certainly nothing as restrained as what President Bush has submitted: WASHINGTON – President Bush sent the nation’s first-ever $3 trillion budget proposal to Congress on Monday, contending . . . → Read More: Bush submits record breaking $3 TRILLION budget plan.  Politics  America, bush administration, Economy, incompetence, Politics TRILLION budget plan.">20 comments  Politics America, bush administration, Economy, incompetence, Politics It’s a good thing it’s looking less and less likely that Mike Huckabee will get the Republican nomination because he keeps getting more and more delusional. Now he’s asking Jesus to stimulate the economy: Mr. Huckabee has invoked Jesus’ name at many points in the primary season, but his extraordinary request marks the first time . . . → Read More: Mike Huckabee’s solution to the nation’s economy troubles? Pray. U.S. budget deficit estimated at $250 billion. – Think Progress A new Congressional Budget Office estimate released today concluded that the “budget deficit for the current budget year will jump to about $250 billion,” which includes the cost of the Iraq war. This figure, however, does not factor in the “at least $100 billion in . . . → Read More: The budget deficit looks to jump to $250 to $350 billion this year. I think the following pretty much speaks for itself… Fair Use Worth More to Economy Than Copyright, CCIA Says—Copyright—InformationWeek Fair use exceptions to U.S. copyright laws account for more than $4.5 trillion in annual revenue for the United States, according to a report issued on Wednesday by the Computer and Communications Industry Association. “Much of . . . → Read More: Why “Fair Use” is important: It’s good for the economy. |
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