Swedish Meatballs
1 day ago
His advice to his fellow Republicans was to keep their distance from James Dobson, the influential head of the social conservative group Focus on the Family. "You could probably hurt yourself electorally by making Jim Dobson happy," Armey said.Read More......
The dollar’s value is connected to Americans’ standard of living. In the United States, the quality of one’s economic life is determined largely by purchasing power. A weaker dollar could cut into purchasing power by raising the cost of imports for which, increasingly, there are no domestic substitutes. The dollar’s decline is already contributing to higher oil prices. For a variety of reasons, higher oil prices also tend to translate into higher food prices. The cost of oil and food are not counted when measuring “core inflation.” But the more they cost, the less Americans can afford of everything else.Read More......
A weaker dollar could also pressure consumers by driving up interest rates. If broad dollar-driven inflation threatened to take hold, the Federal Reserve would surely raise interest rates. But even in the absence of that, the buildup of debt during the Bush years virtually condemns the nation to borrowing for many years to come. An ongoing need to borrow in the face of a weakening dollar would push up interest rates, because creditors demand a higher return to invest in a depreciating currency.
A sharp decline in the currency would mean a sharp decline in living standards. A slower decline in the dollar would mean a slower decline in standards. The first would be a calamity. But the second is also unacceptable.
True, a weaker dollar boosts American exports and attracts foreign shoppers, but you can’t build a strong American economy on a declining dollar.
President Bush, escalating his budget battle with Congress, on Tuesday vetoed a spending measure for health and education programs prized by congressional Democrats.Read More......
He also signed a big increase in the Pentagon's non-war budget....
Since winning re-election, Bush has sought to cut the labor, health and education measure below the prior year level. But lawmakers have rejected the cuts. The budget that Bush presented in February sought almost $4 billion in cuts to this year's bill.
Democrats responded by adding $10 billion to Bush's request for the 2008 bill. Democrats say spending increases for domestic programs are small compared with Bush's pending war request totaling almost $200 billion.
The $471 billion defense budget gives the Pentagon a 9 percent, $40 billion budget increase....
Huge procurement costs are driving the Pentagon budget ever upward. Once war costs are added in, the total defense budget will be significantly higher than during the typical Cold War year, even after adjusting for inflation.
"It is time for him to go. He must quit as president," Bhutto, who has for months held power-sharing negotiations with Musharraf, told Reuters in a telephone interview.Oh, and according to the Washington Post's front page, that whole thing about Musharraf needing emergency powers to crack down on Al Qaeda and the Taliban. That's not happening:
President Pervez Musharraf's army did not have any more control than it did when the military-led government imposed emergency rule nine days ago. In some areas, it had less.Good to know George Bush and his crack foreign policy team are on top of this one. Read More......
The economic costs to the United States of the wars in Iraq and Afghanistan so far total approximately $1.5 trillion, according to a new study by congressional Democrats that estimates the conflicts' "hidden costs"-- including higher oil prices, the expense of treating wounded veterans and interest payments on the money borrowed to pay for the wars.Read More......
That amount is nearly double the $804 billion the White House has spent or requested to wage these wars through 2008, according to the Democratic staff of Congress's Joint Economic Committee. Its report, titled "The Hidden Costs of the Iraq War," estimates that the wars in Iraq and Afghanistan have thus far cost the average U.S. family of four more than $20,000.
Mike Batchelor invited the heads of 46 charities into his downtown office for one-on-one meetings to personally deliver the news. Nearby, on a small table, sat a box of tissues.Read More......
And then he proceeded: A donor had given a staggering $100 million to the Erie Community Foundation, and all of the charities would receive a share.
That was when the tears began to flow -- and the mystery began -- in this struggling old industrial city of 102,000 on Lake Erie, where the donor is known only as "Anonymous Friend."
Batchelor, president of the Erie Community Foundation, has been sworn to secrecy and will allow only that the donor worked with the organization for years to identify deserving recipients before the announcement over the summer.
Is the donor dead or alive? No comment, Batchelor says. What is the donor's connection to Erie? No comment.
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