Our long-term budget challenge can be summarized in one word: entitlements. Without Social Security, Medicare, and Medicaid, the budget would be roughly in balance over the coming decades. But with these programs, and without reform, a fiscal crisis is inevitable. To balance the budget over the next 25 years would require an immediate and permanent 30 percent increase in all federal taxes. That is the future we face, and it is a future of our own making...
Unlike virtually all of its competitors, JPMorgan Chase steeled itself early for the collapse of the subprime market and emerged from the rubble of the global financial meltdown with both its balance sheet and reputation intact. But the storied firm stands alone among its Wall Street rivals in another area, too. JPMorgan backstops one of the most destructive mining practices in the world: mountaintop removal coal mining. And it continues to do so even as other major banks have cut ties to this practice...
"People are scared," he said. "They want to live their lives, raise their children and be happy. This is not possible. They don't know if they can make their next mortgage payment. They see their standard of living going down."
What all this means is that the American people cannot rely on Washington, D.C., to control itself. We cannot trust Washington politicians and bureaucrats to have the character and self-discipline to honor the Constitution and defend our liberties. If we are to preserve our freedom in this country, it will be up to the body politic in each State to do it. If the Congress and........
Jim Hightower, Truthout: "Wall Street banksters - who could possibly love them? OK, presumably their mommas do, and possibly their pet dogs, but that's it. The general public loathes them and would be delighted to see the whole bunch tarred, feathered and deported to a barren atoll, where their punishment would be living with themselves."
Financial Reform Is Good; Firing Bernanke Would Be Better
Dean Baker, Truthout: "The financial reform bills moving through Congress offer some hope for a more stable financial system. While there is still much up for grabs, it is likely that whatever gets through Congress will improve regulation of derivatives, increase regulators' ability to restrict leverage and establish a consumer financial products protection agency. It could also lead to a separation of trading from commercial banking. This will decrease the risk of taxpayers subsidizing risky deals."
The Republican War on...
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rudkla - 12. Jun, 05:44
With FBI Reportedly Investigating...
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