Tuesday, August 25, 2009

Ted Kennedy Dies of Brain Cancer at Age 77.

The man known as the "liberal lion of the Senate" had fought a more than year-long battle with brain cancer, and according to his son had lived longer with the disease than his doctors expected him to. "We've lost the irreplaceable center of our family and joyous light in our lives, but the inspiration of his faith, optimism, and perseverance will live on in our hearts forever," the Kennedy family said in a statement. "He loved this country and devoted his life to serving it."..Link

a "line that we don't want to cross"......

We have been here before..............



$9 trillion in deficits....................

NEW YORK (CNNMoney.com) -- The White House now expects the 10-year budget deficit to reach $9.05 trillion, roughly $2 trillion more than it estimated earlier in the year, according to a report released Tuesday by the Office of Management and Budget. Budget office director Peter Orszag pointed to a number of measures put in place to stem the pain of the economic downturn. "As a result of a deeper-than-expected recession, certain spending programs (such as unemployment insurance and food stamps) are projected to automatically increase and revenues are projected to automatically decline, compared to our previous projection," Orszag said in a statement...Link

Monday, August 24, 2009

When Bobcat opened for NIRVANA...

Obama to Nominate Bernanke to 2nd Term.

WASHINGTON — President Obama on Tuesday will nominate Ben S. Bernanke to a second term as chairman of the Federal Reserve, administration officials said. The announcement is a major victory for Mr. Bernanke, a Republican who was appointed by President George W. Bush almost four years ago and who had briefly served as chairman of Mr. Bush’s Council of Economic Advisers. A top White House official said Mr. Obama had decided to keep Mr. Bernanke at the helm of the Fed because he had been bold and brilliant in his attempts to combat the financial crisis and the deep recession...Link

FED loses suit demanding transparency...

NEW YORK (Reuters) - A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.Link

Texas Straight Talk......

During August recess, many legislators have heard an unexpected amount of discontent from their constituents about what is happening on Capitol Hill, particularly regarding healthcare. Some people are justifiably terrified at what the government could do to healthcare, should it get its claws even further into it. Others demand a public option for health insurance and are adamant that healthcare be treated as yet another absolute entitlement. One thing everyone agrees on is that the final bill needs to be read and understood by all legislators before a vote is taken. To any American, this is common sense. In Washington, that is unlikely to happen...Link