Friday, January 21, 2005

Bush Scares the Shit Out of the Rest of the World

Message: I'll Give you Liberty or I'll Give You Death

Remind You of Anyone?

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Let Hypocrisy Ring

Billmon contrasts Bush's rhetoric with his actions.

And welcome back, Billmon.

Krugman Takes Another Whack at Bush's Social Security Scheme

Read it here.

Thursday, January 20, 2005

Bob Rubin Slams Bush's Social Security Scheme

From the Guardian:

"It's a badly, badly flawed plan," Robert Rubin, the former secretary of the treasury and current Citigroup director, told me. "From a fiscal point of view it's horrendous. It adds to deficits and federal debt in very large numbers until 2060." He calculates that the transition costs of Bush's plan for the first 10 years will be at least $2 trillion, and $4.5 trillion for the second 10 years. The exploding deficit would have an "adverse effect on interest rates, an adverse effect on consumption and housing prices, reduce productivity and growth, and crowd out debt capital to the private sector. Markets could begin to lose confidence in fiscal policy. The soundness of social security will be worse".

Rubin adds that the stock market is hardly a sure bet. "You are not making social security more secure by subjecting people's retirement to equity risk. If you look at the Nikkei in Japan you get a sense of what can happen."


Tuesday, January 18, 2005

Wonkette Complains About the President's Balls

"The names of W's balls piss me off. Freedom Ball? Independence Ball?
How could you have fun at a party like that, even if Biz Markie is
there? It's just like the names of W's military operations: "Iraqi
Freedom"; "Enduring Freedom." What happed to cool names like "Rolling
Thunder" and "Desert Fox"? Right or wrong, at least we could feel like
we were kicking ass.

Is there not a bit of irony in the titles of the balls? In that, with
the exception of the CIC ball, the Patriot Ball, and the Stars and
Stripes ball, they're all named after things the administration seems
hell-bent on eliminating? Constitution, Freedom, Liberty, Democracy,
Environment and Clean Energy? What role exactly do any of those have in
current GOP policy?

Perhaps they should come up with some new titles, to reflect the
administration's position:


The Unfunded Mandate Ball
The Hell With International Opinion Ball
The Indefinite Detainees Ball
The Doctrine of Preemption Ball
The Clinton Did It Ball
The Legacy of the Crippling Deficit Ball

Excellent. We have just one further suggestion: 'The Abu Ghraib
Electrodes Attached to Your Ball.'"

Scandal Exhaustion

Salon recounts the political depradations of the past four years.

Quiz: Who is the speaker of these words, who is A and who is B?

"It appeared to me that [A], my successor as Director of Central
Intelligence, came to office with firm instructions from [B]: he was to
shake up the Agency, trim it down, and rid it of what [B] percieved to
be the existing regime of anti-[B] Georgetown delettantes and
free-range liberals. Aside from making CIA a more effective service,
this was also to make the Agency a more responsive element of the [B]
administration."




Suppressed Economic Report Predicts Second Great Depression

Read it here.

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