Tuesday, August 30, 2011

When Republicans suddenly need government

Great column on salon.com about how the Republican Party's position on government changes when faced with a disaster. More importantly, the article points out how the party has changed today:

"...the true believers who make up today’s GOP base probably are more sympathetic to [Texas Congressman Ron] Paul’s claim that "we just don’t have the money" for federal disaster relief than they are to [New Jersey Governor Chris] Christie’s statement that "your No. 1 goal as governor in a situation like this is the saving of human life -- and everything else is secondary."

This underscores a serious political problem for the Obama-era Republican Party. It used to be that GOP elected officials had some wiggle room when it came to balancing the demands of their base with the imperatives of keeping the broader public happy. This was important because the general public has some very mixed feelings when it comes to the role of government. While conservative rhetoric about government being bloated, wasteful, inefficient and unnecessary is quite popular, so are most big ticket government programs and services. Republicans have learned this in the past when they’ve bent too far toward pleasing their base -- think of Newt Gingrich’s attack on Medicare in 1995 or George W. Bush's planned Social Security overhaul in 2005.

But the wiggle room is basically gone, and today’s GOP base demands absolute ideological purity from its leaders. It’s no longer enough for them to campaign on generic anti-government rhetoric.
"

Friday, August 26, 2011

Coutinho: Here’s Why Jose Reyes Will Stay With The Mets

This is good news. Best of all, the numbers look like they'll add up too:

"The Mets’ payroll at the start of 2011 was around $142 million, with many high ticket items coming off the 2012 payroll, including:

Luis Castillo, $6.25 million
Ollie Perez, $12 million
Carlos Beltran, $20.7 million
Jose Reyes, $11 million (we will add his new numbers in later)
Gary Matthews Jr., $1 million (yes, that Gary Matthews — maybe his dad should pipe down)

To date, New York has $66 million committed to contracts in 2012. They include:

Johan Santana, $21 million
Jason Bay, $18.1 million
David Wright, $15.2 million
R.A. Dickey, $4.75 million
D.J. Carrasco, $1.2 million
"

Rich Coutinho adds later on:

"So to summarize:

$10 million for retaining arbitration eligible players
$66 million for committed contracts
$9 million For players under Mets’ control
$7 million for incumbent free agents aside from Reyes

That totals $92 million in estimated cost.

I think that’s high because it is assuming the Mets will keep all three arbitration-eligible players. Now, their payroll is likely to sit at $125-130 million, which would be $10-15 million less than last year. That means they would have anywhere from $33-38 million left to sign Reyes and spend on other players.
"

Monday, August 22, 2011

An iPad vs. a Stone: A Technological Comparison

This is pretty funny!

job fails - I'd Also Like to See It Compared to Actual Apples


Schwei: How Different Would Mets History Be If MLB Instituted Wild Card In 1980s?

A great breakdown of how dominant the New York Mets were from 1984-1990. Many of today's fans either weren't old enough or weren't living in New York at the time to regularly see those teams.

The best stat of those teams was their overall record over those seven seasons: 666-466 for a .588 winning percentage, which AVERAGES to a 95-67 record per season over seven consecutive seasons!

Thursday, August 18, 2011

CTJ: Warren Buffett Is Right, the Wall Street Journal Is Wrong

Citizens for Tax Justice explains how Warren Buffett is right and The Wall Street Journal is wrong:

"Warren Buffett, the billionaire investor and CEO of Berkshire Hathaway, called for higher taxes for millionaires in a widely-noted op-ed this week. As expected, the Wall Street Journal reacted with a variety of misleading counter-arguments. We conclude that:

1. Buffett is correct that the tax breaks that benefit the wealthy investor class, like the capital gains and dividends preferences, are unfair.
2. The Wall Street Journal’s arguments that these types of investment income are double-taxed are incorrect.
3. Contrary to what the Journal claims, President Obama’s tax plan is in keeping with Buffett’s call for higher taxes on millionaires.
"

Read the whole post for more. Well done, CTJ. Well done.

Zinging Warren Buffett - The New Republic

Jonathan Chait of The New Republic fires back at all those conservatives that say that Warren Buffett should voluntarily write a check for the taxes he thinks he should owe:

"The Wall Street Journal editorial page:
If he's worried about being undertaxed, we'd suggest he simply write a big check to Uncle Sam and go back to his day job of picking investments.

Obviously this fails to grasp the fundamental collective action problem that's the entire basis for taxation. You obviously can't fund the government on the basis of voluntary donations. Buffett and other wealthy people who favor higher taxes on the rich don't just believe they should pay more taxes. They believe the government needs more revenue. It's amazing how many conservatives continue to think this just-pay-more response constitutes some kind of slam dunk rebuttal. Plus, of course, if a non-rich person proposes raising taxes on the rich, then it's "envy" and "class warfare." So, really, nobody has any business ever arguing that the rich should pay higher taxes.
"

Amazing that over 90 years later, the Republican Party is still proposing the policy of volunteerism first championed by President Herbert Hoover at the start of the Great Depression.

Wednesday, August 17, 2011

Are U.S. Students Ready to Compete? : Education Next

If you are a parent, be sure to read this article and, if you get a chance, the full unabridged paper on where the United States stands in terms of education. Many education reform supporters are hoping this paper will be the wake-up call to get people outraged enough to act on this issue.

More fact checking on Rick Perry...

FactCheck.org reviewed another statement from Texas Governor Rick Perry, this time about his claim that the Obama Administration wants to require farmers get commercial driver's licences for their tractors if they drive them on roads. And so his turn as the flavor of the month continues to hold its taste, however distasteful that taste may be...

More on the blue Mets jerseys...

Uni Watch has more info on the blue Mets jerseys. Check it out.

Tuesday, August 16, 2011

Profile of ADHD sharpens in each school year

Great story in The Los Angeles Times about how one family deals with a child with ADHD and gives great background on the condition. Definitely an excellent read if you've ever wanted to know more about ADHD, like this piece from the article:

"Researchers are starting to realize that in some cases, ADHD only becomes apparent in middle and high school, when student life gets more complicated and classes become more demanding. Hyperactivity often wanes as children reach adolescence, but teens are expected to deal with multiple teachers and be more independent and organized. Those who were able to muddle through elementary school may lack the attention skills needed to cope, Vitiello says."

Sometimes you can have the lucky misfortune of being born with a nearly photographic memory. Then you could be, say, a 26-year old MBA student before someone tells you for the first time that you've compensated for your ADHD your entire life.

Blue Mets Jerseys in 2013? Sounds too good to be true!

Looks like the blue uniforms the Mets wore for Fiesta Latina weren't a fluke after all. Apparently the team was testing fan reaction and was impressed with the positive response:

"“We did receive quite a bit of feedback, almost all of it anecdotal, but fairly extensive and fairly uniformly positive about the blue jersey,” [Mets executive VP for business operations Dave] Howard said. “It’s something we wanted to try. We had been discussing it internally. And we had been hearing from fans -- and observing on blogs and things like that -- of people having a view that they’d like to see more of the blue and orange. So with the “Los Mets” jersey, obviously it’s something you wear for one day for a promotion. And we thought it would be a good opportunity to try out this particular design. And it was very well received.”"

Everyone from David Wright (via Metsblog) to Metsblog readers (91% in favor) to me weighed in on the blue jerseys, nearly all of it in favor of the blue.

The only drawback of this is Major League Baseball's uniform rules are so ridiculous, teams have to submit their uniforms for the following season prior to opening day of the current season. Meaning, if the Mets wanted to make the blue uniforms part of their regular jerseys for next season, it would have to have been submitted for approval to the league offices this past March. How ridiculous is that?!?

Everyone seems to be fact checking Rick Perry these days

Since his entry into the 2012 GOP Presidential field, Rick Perry (or Rick Parry, as the Colbert SuperPAC would like you to call him) has been the topic du jour for professoinal factcheckers. FactCheck.org weighs in on some of Gov. Perry's dubious claims and PolitiFact.com has a summary of quotes by or about Rick Perry and on the Texas economy in general.

Monday, August 15, 2011

Schumpeter: American idiocracy | The Economist

Great blog post in The Economist chastising Washington for their handling of pretty much everything over the past few years. Here's a part on why there may not be any hope:

"Optimists argue that S&P’s decision may act as a wake-up call. Yet in Washington it is being treated as another battle cry, with Republicans raging about “the Obama downgrade” and Democrats railing against “tea-party terrorists”. The roots of America’s current polarisation are distressingly deep. The parties have reorganised themselves along ideological lines, as white conservatives have abandoned the Democrats and northern liberals the Republicans. The ideological factions have built mighty propaganda machines stretching from Washington think-tanks to the studios of Fox and MSNBC. And ideologues have resorted to previously taboo weapons, such as the threat of default.

This ideological civil war has led to the marginalisation of corporate America. In the Republican Party country-club types have been elbowed aside by Rush Limbaugh listeners. In the Democratic Party the business-friendly centrists who flourished under Bill Clinton have been sidelined by Ivy League intellectuals and trade-union and minority activists.
"

Avoirdupois

Aside from giving a great SAT word (avoirdupois), Ross Douthat also gives us his reasons why Chris Christie would be a better candidate than Rick Perry and Mitt Romney:

"What Perry doesn’t have, though, is the kind of moderate facade that Americans look for in their presidents. He’s the conservative id made flesh, with none of the postpartisan/uniter-not-a-divider spirit that successful national politicians usually cultivate.

Imagine if the Democratic Party nominated a combination of Al Franken and Nancy Pelosi for the presidency, and you have a sense of the kind of gamble Republicans would be taking with Perry. And even if that gamble worked, little in his record suggests that he’s prepared to preside over a polarized country, or negotiate his way through a divided Washington.
"

Saturday, August 13, 2011

Fitting baseball stat for International Lefthanders' Day

BaseballReference.com. lists the longest-tenured lefties in Major League Baseball today.

As I commented on the page, not sure if it was a coincidence or by design but to all my lefty friends out there: Happy International Lefthanders' Day! (Not really sure what that really means though.)

Friday, August 12, 2011

FactCheck.org: Romney's Run-in on Social Security

From FactCheck.org:

"Mitt Romney gave a misleading answer to a question about Social Security during a feisty exchange with a heckler in Iowa. He said payroll taxes take 15.3 percent "out of your earnings," but only the self-employed pay that rate. All other workers pay half of that, with the other half being paid for by the employer."

Ideological Leanings of "The Supercommittee"

Great blog post that maps out where the 12 members of the debt super committee stands ideologically versus each other. Worth the quick read.

S&P Report Cites Bush Tax Cuts as a Reason for Downgrade - CTJ

As I blogged about earlier this week, a number of critics have placed the blame for the S&P downgrade squarely on the policies of the Bush Administration. Similarly, Citizens for Tax Justice also cites the S&P report claiming the Bush Tax Cuts as a reason for the downgrade.

Citizens for Tax Justice also has four new policy briefs on how taxes work, which are worth the read.

David Wright endorses the Blue Jersey over the Black one - Metsblog.com




I miss the old jersey from the '80's above but the updated version is pretty nice too. Hopefully they'll keep this one and get rid of that black one, which aside from not being one of the team colors, is the worst possible color to be wearing while playing sports on a hot summer day or night.

102 Things NOT To Do If You Hate Taxes

This is great, especially the Oliver Wendell Holmes quote at the very end.

102 Things NOT To Do If You Hate Taxes
So, you’re a Republican that hates taxes? Well, since you do not like taxes or government, please kindly do the following.

1. Do not use Medicare.
2. Do not use Social Security
3. Do not become a member of the US military, who are paid with tax dollars.
4. Do not ask the National Guard to help you after a disaster.
5. Do not call 911 when you get hurt.
6. Do not call the police to stop intruders in your home.
7. Do not summon the fire department to save your burning home.
8. Do not drive on any paved road, highway, and interstate or drive on any bridge.
9. Do not use public restrooms.
10. Do not send your kids to public schools.
11. Do not put your trash out for city garbage collectors.
12. Do not live in areas with clean air.
13. Do not drink clean water.
14. Do not visit National Parks.
15. Do not visit public museums, zoos, and monuments.
16. Do not eat or use FDA inspected food and medicines.
17. Do not bring your kids to public playgrounds.
18. Do not walk or run on sidewalks.
19. Do not use public recreational facilities such as basketball and tennis courts.
20. Do not seek shelter facilities or food in soup kitchens when you are homeless and hungry.
21. Do not apply for educational or job training assistance when you lose your job.
22. Do not apply for food stamps when you can’t feed your children.
23. Do not use the judiciary system for any reason.
24. Do not ask for an attorney when you are arrested and do not ask for one to be assigned to you by the court.
25. Do not apply for any Pell Grants.
26. Do not use cures that were discovered by labs using federal dollars.
27. Do not fly on federally regulated airplanes.
28. Do not use any product that can trace its development back to NASA.
29. Do not watch the weather provided by the National Weather Service.
30. Do not listen to severe weather warnings from the National Weather Service.
31. Do not listen to tsunami, hurricane, or earthquake alert systems.
32. Do not apply for federal housing.
33. Do not use the internet, which was developed by the military.
34. Do not swim in clean rivers.
35. Do not allow your child to eat school lunches or breakfasts.
36. Do not ask for FEMA assistance when everything you own gets wiped out by disaster.
37. Do not ask the military to defend your life and home in the event of a foreign invasion.
38. Do not use your cell phone or home telephone.
39. Do not buy firearms that wouldn’t have been developed without the support of the US Government and military. That includes most of them.
40. Do not eat USDA inspected produce and meat.
41. Do not apply for government grants to start your own business.
42. Do not apply to win a government contract.
43. Do not buy any vehicle that has been inspected by government safety agencies.
44. Do not buy any product that is protected from poisons, toxins, etc…by the Consumer Protection Agency.
45. Do not save your money in a bank that is FDIC insured.
46. Do not use Veterans benefits or military health care.
47. Do not use the G.I. Bill to go to college.
48. Do not apply for unemployment benefits.
49. Do not use any electricity from companies regulated by the Department of Energy.
50. Do not live in homes that are built to code.
51. Do not run for public office. Politicians are paid with taxpayer dollars.
52. Do not ask for help from the FBI, S.W.A.T, the bomb squad, Homeland Security, State troopers, etc…
53. Do not apply for any government job whatsoever as all state and federal employees are paid with tax dollars.
54. Do not use public libraries.
55. Do not use the US Postal Service.
56. Do not visit the National Archives.
57. Do not visit Presidential Libraries.
58. Do not use airports that are secured by the federal government.
59. Do not apply for loans from any bank that is FDIC insured.
60. Do not ask the government to help you clean up after a tornado.
61. Do not ask the Department of Agriculture to provide a subsidy to help you run your farm.
62. Do not take walks in National Forests.
63. Do not ask for taxpayer dollars for your oil company.
64. Do not ask the federal government to bail your company out during recessions.
65. Do not seek medical care from places that use federal dollars.
66. Do not use Medicaid.
67. Do not use WIC.
68. Do not use electricity generated by Hoover Dam.
69. Do not use electricity or any service provided by the Tennessee Valley Authority.
70. Do not ask the Army Corps of Engineers to rebuild levees when they break.
71. Do not let the Coast Guard save you from drowning when your boat capsizes at sea.
72. Do not ask the government to help evacuate you when all hell breaks loose in the country you are in.
73. Do not visit historic landmarks.
74. Do not visit fisheries.
75. Do not expect to see animals that are federally protected because of the Endangered Species List.
76. Do not expect plows to clear roads of snow and ice so your kids can go to school and so you can get to work.
77. Do not hunt or camp on federal land.
78. Do not work anywhere that has a safe workplace because of government regulations.
79. Do not use public transportation.
80. Do not drink water from public water fountains.
81. Do not whine when someone copies your work and sells it as their own. Government enforces copyright laws.
82. Do not expect to own your home, car, or boat. Government organizes and keeps all titles.
83. Do not expect convicted felons to remain off the streets.
84. Do not eat in restaurants that are regulated by food quality and safety standards.
85. Do not seek help from the US Embassy if you need assistance in a foreign nation.
86. Do not apply for a passport to travel outside of the United States.
87. Do not apply for a patent when you invent something.
88. Do not adopt a child through your local, state, or federal governments.
89.Do not use elevators that have been inspected by federal or state safety regulators.
90. Do not use any resource that was discovered by the USGS.
91. Do not ask for energy assistance from the government.
92. Do not move to any other developed nation, because the taxes are much higher.
93. Do not go to a beach that is kept clean by the state.
94. Do not use money printed by the US Treasury.
95. Do not complain when millions more illegal immigrants cross the border because there are no more border patrol agents.
96. Do not attend a state university.
97. Do not see any doctor that is licensed through the state.
98. Do not use any water from municipal water systems.
99. Do not complain when diseases and viruses, that were once fought around the globe by the US government and CDC, reach your house.
100. Do not work for any company that is required to pay its workers a livable wage, provide them sick days, vacation days, and benefits.
101. Do not expect to be able to vote on election days. Government provides voting booths, election day officials, and voting machines which are paid for with taxes.
102. Do not ride trains. The railroad was built with government financial assistance.

The fact is, we pay for the lifestyle we expect. Without taxes, our lifestyles would be totally different and much harder. America would be a third world country. The less we pay, the less we get in return. Americans pay less taxes today since 1958 and is ranked 32nd out of 34 of the top tax paying countries. Chile and Mexico are 33rd and 34th. The Republicans are lying when they say that we pay the highest taxes in the world and are only attacking taxes to reward corporations and the wealthy and to weaken our infrastructure and way of life. So next time you object to paying taxes or fight to abolish taxes for corporations and the wealthy, keep this quote in mind…

“I like to pay taxes. With them, I buy civilization.” ~Oliver Wendell Holmes

Breakdown of Appeals Court Ruling on Health Care Reform

The Incidental Economist breaks down nicely the nuances of the court ruling on the Affordable Care Act.

Additionally, Ezra Klein has an informative and detailed post on what the future holds for health care reform.

Thursday, August 11, 2011

How the ACA will affect employer-sponsored insurance - The Incidental Economist

Interesting post at The Incidental Economist about how the ACA will affect employer-sponsored insurance. Check it out.

Be careful what you wish for Tea Party...

An excellent op-ed piece in today's New York Times makes an ominous point about the riots in England:

"The American right today is obsessed with cutting government spending. In many ways, Mr. Cameron’s austerity program is the Tea Party’s dream come true. But Britain is now grappling with the consequences of those cuts, which have led to the neglect and exclusion of many vulnerable, disaffected young people who are acting out violently and irresponsibly — driven by rage rather than an explicit political agenda."

"...driven by rage rather than an explicit political agenda" sounds a lot like someone that would say "get your government hands off my Medicare".

Pimco Founder: A Balanced Budget will not produce a balanced economy.

Great op-ed piece in The Washington Post by Bill Gross, founder and co-CIO of the investment management firm Pimco. The whole quote is:

"...an anti-Keynesian, budget-balancing immediacy imparts a constrictive noose around whatever demand remains alive and kicking. Washington hassles over debt ceilings instead of job creation in the mistaken belief that a balanced budget will produce a balanced economy. It will not."

Mr. Gross also makes the following astute observation:

"But while our debt crisis is real and promises to grow to Frankenstein proportions in future years, debt is not the disease — it is a symptom. Lack of aggregate demand or, to put it simply, insufficient consumption and investment is the disease. Debt has been simply an abused sovereign and private market antidote to sustain it. We and our global market competitors are and have been experiencing a lack of aggregate demand for several decades. It is now only visibly coming to a head, as the magic elixir of leverage is drained and exhausted."

This is a must-read article!

First two Colbert SuperPac ads

The first two Colbert SuperPAC commercials are out in Iowa. Check them out:






Wednesday, August 10, 2011

Single payer resources - The Incidental Economist

The Incidental Economist blog posts some great sources of information on what a single-payer healthcare system would actually cost. It's worth checking out if you're curious as to whether or not a single-payer healthcare model would solve the nation's deficit problems. Chances are it will, but don't tell any Republicans because they're conditioned to ignore that fact.

Giants, Angels, Nationals lead teams who could use Jose Reyes - Jon Heyman - SI.com

All of the team's mentioned in the title of this post can use Jose Reyes, according to Jon Heyman. Fortunately, Heyman also writes:

"Reyes is said by people close to him to badly want to remain a Met."

A Met fan can hope, right?

Joe Petruccio on Plaxico Burress...

I love this guy's art work but this is just mean (and funny too)!

Mets thrilling fans with mix of attitude & energy - NYPOST.com

Larry Brooks explains the reason I watch every single night.

Mr. Toles Strikes Again!


On target, as usual. Like the man said, put everything in DENIAL!

Tuesday, August 9, 2011

Republicans/Tea Party own this downgrade (says pretty much everyone.)

Noahpinion has an interesting read. Very well said:

"Debt is now approaching 100% of GDP...If the Reagan-Bush I debt runup had not occurred, we would only be at 70%. If the Bush II tax cuts had not occurred, we would probably be around the same level or slightly higher. If neither Republican debt binge had occurred, anyone who tried to question U.S. solvency would be laughed out of the room."

Along the same lines, Joe Nocera writes in today's column pretty much the same thing:

"The downgrade, after all, was less about economics than politics. S.& P. was frightened by the same thing that has scared most Americans: the spectacle of an unyielding minority of Tea Party Republicans ready to push the country into default rather than accept even modest tax increases to help bring down the deficit. “The effectiveness, stability, and predictability of American policy-making and political institutions have weakened at a time of ongoing fiscal and economic challenges,” wrote S.& P. in its downgrade report. Who can disagree?

Has any president in American history left behind as much lasting damage as George W. Bush? In addition to two unfinished wars, he also set us on the path to our current financial mess. The Bush tax cuts, which turned a surplus into a growing deficit, have been disastrous.
"

That's why Peter Orszag's recommendation to let the Bush Tax Cuts expire makes sense:

"...the most straightforward way to raise the needed revenue is to allow all of the 2001/2003 tax cuts, not only those for high-earners, to expire at the end of next year. That would lower the 10- year deficit by more than $3 trillion. (Democrats who bemoan the role of the tax cuts in driving up the deficit but then favor extending the vast majority of them are suffering from cognitive dissonance.)"

At some point the Republican Party needs to say enough is enough to the Tea Party. Unfortunately I can't imagine a day when that will actually happen.

Monday, August 8, 2011

Moving in the walls at CitiField?

The spaciousness of CitiField has often been a point of contention about players and fans alike but Marty Noble provides this little nugget:

"...for the most part, Citi has been unpopular with hitters. The first time the Braves played here in 2009, Chipper Jones smoked a pitch to right-center field. It was caught. As he ran off the field and passed by third base, [David] Wright offered a telling two-word commentary: "Nice park.""

Thursday, August 4, 2011

Myths and Facts About the Debt-Ceiling Compromise (according to The White House)

Not sure if this effort on the part of the White House is meant to assuage nervous supporters or convince undecided independents but the White House is in full campaign mode defending and explaining President Obama's actions in the debt ceiling debate with both an FAQ page and an infographic describing the agreement.

"Why do half of all Americans pay no federal income taxes?"

If you've wondered why roughly half of all Americans pay no federal income taxes, Ezra Klein asks the same question and comes to this conclusion:

"But the basic story here is that once you've added together the standard features of the tax code and the tax expenditures for the elderly, poor and young, you've explained almost everyone who doesn't pay taxes."

Read the whole post and the Tax Policy Center report that it links to. You'll be glad you did.

The Onion: Obama Turns 50 Despite Republican Opposition

How empty would life be without The Onion? (Happy Birthday Mr. President.)

"August 4, 2011 ISSUE 47•31
WASHINGTON—After months of heated negotiations and failed attempts to achieve any kind of consensus, President Obama turned 50 years old Thursday, drawing strong criticism from Republicans in Congress. "With the host of problems this country is currently facing, the fact that our president is devoting time to the human process of aging is an affront to Americans everywhere," said Senate Minority Leader Mitch McConnell, who advocated a provision to keep Obama 49 at least through the fall of 2013. "To move forward unilaterally and simply begin the next year of his life without bipartisan support—is that any way to lead a country?" According to White House officials, Obama attempted to work with Republicans right up until the Aug. 4 deadline, but was ultimately left with no choice except to turn a year older.
"

"Today, the U.S. defense establishment is the world’s largest socialist economy."

Fareed Zakaria explains in his Washington Post column today something that should make conservatives cringe:

"Serious conservatives should examine the defense budget, which contains tons of evidence of liberalism run amok that they usually decry. Most talk of waste, fraud and abuse in government is vastly exaggerated; there simply isn’t enough money in discretionary spending. Most of the federal government’s spending is transfer payments and tax expenditures, which are — whatever their merits — highly efficient at funneling money to their beneficiaries. The exception is defense, a cradle-to-grave system of housing, subsidies, cost-plus procurement, early retirement and lifetime pension and health-care guarantees. There is so much overlap among the military services, so much duplication and so much waste that no one bothers to defend it anymore. Today, the U.S. defense establishment is the world’s largest socialist economy."

Negotiating Tactics

So true!

Fiscal policy: Flying blind | The Economist

This is why politics is scary:

"...as new data have revealed the true dimensions of the 2008 collapse, the public's perception of events hasn't much changed. Critics still jeer the stimulus for its failure to deliver promised results, despite the now-obvious inadequacy of the package."

Wednesday, August 3, 2011

Corzine the next Treasury Secretary? | Politicker NJ

Politicker NJ reports on a clause in the prospectus for an MF Global bond fund that will pay an additional 1% interest if CEO Corzine is offered and confirmed to a White House position.

I'm not really sure if this is idle speculation or legitimate. From what I gather, MF Global has been using Jon Corzine's name for their marketing efforts and losing him is a loss to the company so the clause in the bond fund is to protect investors that purchased the bonds solely on his being at the head of the firm.

It is curious though that this clause is only in the prospectus for the bond fund and not other funds at the firm (or at least hasn't been reported as such). The clause does not specify Secretary of Treasury, only "appointment to a federal position". If the clause isn't in other prospectuses, then I'd get curious because you can assume the Treasury Secretary has more influence on the bond market than any other investor market out there.

Hmm...

How Clinton Handled His Debt Ceiling Crisis Better Than Obama | The New Republic

Many people I know would agree with this but The New Republic does add some caveats to its assessment, including this very important point:

"THE MOST CRUCIAL difference between Clinton’s debt limit battle and the current crisis is that, in 1996, the Republicans were bluffing. No Republican seriously considered defaulting on the debt to be a viable option."

My how times have changed...

Why The Math Doesn't Work

Ezra Klein starts off clearly:

"There are now two sides in the American tax debate: the Republican Party, which refuses to have a serious conversation about taxes, and the Democratic Party, which . . . refuses to have a serious conversation about taxes."

...then goes on to explain why the math doesn't work:

"The debt-ceiling deal simply proves the point. Let’s say the spending cuts go exactly as the Republicans hope: We cut $900 billion now and $1.5 trillion later. That’s more cuts than the White House says it would ever agree to, but ignore that for a moment. Now let’s say the tax side goes according to the White House’s plan: Most of the Bush tax cuts are extended, but the break for income of more than $250,000 a year expires. Are we done?

I asked Jim Horney of the Center on Budget and Policy Priorities to run the numbers. In 2021, that scenario would leave the debt above 75 percent of GDP — and growing. That’s well above the 60 percent of GDP most deficit hawks think we should shoot for, and it doesn’t leave us at all prepared to deal with costs related to the retiring baby boomers.
"

Definitely an informative read.

Yes, "The Onion" strikes again...

You can always count on The Onion, even with this eerily accurate headline:

"Democrats, Republicans Celebrate Pitiful Excuse For Common Ground"

This is not a painting!



Seriously, this picture is an actual photograph taken by a National Geographic photographer in Namibia.

Tuesday, August 2, 2011

The Mission to Get Osama Bin Laden: The New Yorker (A MUST READ!)

This has to be the most fascinating article I have ever read. Nicholas Schmidle's article is visually descriptive and gives tons of details about what happened on the night of May 1st in Abbottabad, Pakistan. The article is a must read, especially for the types of tidbits below that are peppered throughout the piece.



"The C.I.A. intensified its intelligence-collection efforts, and, according to a recent report in the Guardian, a physician working for the agency conducted an immunization drive in Abbottabad, in the hope of acquiring DNA samples from bin Laden’s children. (No one in the compound ultimately received any immunizations.)"

"Brian invited James, the commander of DEVGRU’s Red Squadron, and Mark, the master chief petty officer, to join him at C.I.A. headquarters. They spent the next two and a half weeks considering ways to get inside bin Laden’s house. One option entailed flying helicopters to a spot outside Abbottabad and letting the team sneak into the city on foot. The risk of detection was high, however, and the SEALs would be tired by a long run to the compound. The planners had contemplated tunnelling in—or, at least, the possibility that bin Laden might tunnel out. But images provided by the National Geospatial-Intelligence Agency showed that there was standing water in the vicinity, suggesting that the compound sat in a flood basin. The water table was probably just below the surface, making tunnels highly unlikely."

"None of the SEALs, besides James and Mark, were aware of the C.I.A. intelligence on bin Laden’s compound until a lieutenant commander walked into an office at the site. He found a two-star Army general from JSOC headquarters seated at a conference table with Brian, James, Mark, and several analysts from the C.I.A. This obviously wasn’t a training exercise."

"This was one of almost two thousand missions that have been conducted over the last couple of years, night after night.” He likened the routine of evening raids to “mowing the lawn.” On the night of May 1st alone, special-operations forces based in Afghanistan conducted twelve other missions; according to the official, those operations captured or killed between fifteen and twenty targets. “Most of the missions take off and go left,” he said. “This one took off and went right.”"

"Eventually, a few curious Pakistanis approached to inquire about the commotion on the other side of the wall. “Go back to your houses,” Ahmed said, in Pashto, as Cairo [a Belgian Malinois breed dog] stood watch. “There is a security operation under way.” The locals went home, none of them suspecting that they had talked to an American. When journalists descended on Bilal Town in the coming days, one resident told a reporter, “I saw soldiers emerging from the helicopters and advancing toward the house. Some of them instructed us in chaste Pashto to turn off the lights and stay inside.”"

"Brennan, who had been a C.I.A. station chief in Riyadh, phoned a former counterpart in Saudi intelligence. Brennan told the man what had occurred in Abbottabad and informed him of the plan to deposit bin Laden’s remains at sea. As Brennan knew, bin Laden’s relatives were still a prominent family in the Kingdom, and Osama had once been a Saudi citizen. Did the Saudi government have any interest in taking the body? “Your plan sounds like a good one,” the Saudi replied."

Definitely worth reading!!