The American Prospect has a good wrap-up of the political situation surrounding the recent defeat of “cramdown” legislation (starring Illinois’ own Senator Dick Durbin). Cramdown is when a bankruptcy judge can reduce the amount of a mortgage once a person goes into bankruptcy court. Current law forbids a judge from lowering the amount of a […]
Here’s a nice little article on how a big chunk of our federal budget deficit and debt problems came from the Republicans. Of course, I’m not happy that the Obama administration is having to run up huge, new deficits. But the real question is how long will these deficits go on. It’s appropriate for government […]
Conservatives love to talk about how “welfare” and “entitlement” programs destroy the character of Americans by undermining their willingness to work and generate economic prosperity. There are all sorts of problem with this view. Among them, what’s the evidence? There are plenty of rich people who could retire today with a high quality of life, […]
Or at least, that’s what conservatives should be arguing for. And I think they’d have a lot of support. Conservative Charles Krauthammer writes today: Torture is an impermissible evil. Except under two circumstances. The first is the ticking time bomb. An innocent’s life is at stake. The bad guy you have captured possesses information that […]
There’s a lot to chew on in the discussion over at the New York Times “Does the U.S. need an auto industry?“ I was struck by a couple of passages. This from Roger Simmermaker, a union official: We need a U.S. auto industry because American companies employ more American workers; support more retirees, their families […]
A great discussion taking place over at the New York Times. Economist Mark Thoma says: But there is another rationale for policies preserving certain kinds of production: protecting industries vital to national defense. If you are an island nation vulnerable to blockades or trade embargoes intended to prevent food and other goods from being imported, […]
I’m afraid that I can’t get behind the Obama administration and some Michigan politicians who blame a group of hedge funds for pushing Chrysler into bankruptcy court. The Obama administration desperately wanted to keep Chrysler out of bankruptcy. It secured agreements from just about everybody (management, the union, banks that are major creditors – who, […]
A sad day. Both I and my wife have many connections to Chrysler, Detroit, Michigan, and many other places supported, in part, by Chrysler. Many friends, acquaintances, and family members will get hit hard. The Detroit News has a quick summary of the impact of the bankruptcy filing designed to save the company: The Obama […]
On the lighter side, I just got around to watching Stephen Colbert’s profile of my congressional district – the “Fightin’ 18th” – and our brand spanking new congressman, Aaron Schock. Absolutely priceless. (h/t Larry at Slothropia) The Colbert Report Mon – Thurs 11:30pm / 10:30c Better Know a District – Illinois’ 18th – Aaron Schock […]
I’ve been away from posting for awhile, so I thought I’d start with something light – like torture. Let me just say right off the top that I will forever despise the Bush administration for making my country into a nation that tortures. This is one of the main things that made me embrace being […]
Bill Poorman 