Obama Unveils New Bank Fee That Will Rob From Mister Potter to Give to You

January 14, 2010

“The fee would apply to financial companies with assets of more than $50 billion…The administration estimates the levy will raise $90 billion over 10 years and $117 billion over 12 years,” which they claim will fully cover the TARP expenditures, all without any costs passed along to you the consumer. Magic!

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Google's China Threat Jolts Industry, But Does it Lack Teeth?

January 13, 2010

Would Google really give up 40 million users? “The U.S. search giant’s announcement that it will stop censoring its Chinese search site, and may withdraw from the country altogether, triggered an outpouring of concern, and some anger, among Chinese Internet users.”

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Change for Slash Organizing for America Arm of White House Under Fire

January 13, 2010

CHANGE: “Progressives blast OfA as a soulless, top-down machine that’s alienating the base, even as some state party officials complain that the group is stepping on their toes. Conservative Democrats, too, grumbled over the summer when OfA ran mild, campaign-style ads in their districts backing health care reform.”

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Is the FOX News Contract a Sign That Sarah Palin Really is Done With Electoral Politics?

January 12, 2010

No one would blame Sarah Palin for just taking the money from book sales, speaking engagements, TV appearances and the like for the rest of her life. But is this new FOX News commentator contract a sign that she really is going to stay out of electoral politics for the foreseeable future? Probably.

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Obama Plans to Raise $120 Billion From Banking Fees, Refund TARP

January 12, 2010

“Obama plans to raise as much as $120 billion through a fee on financial institutions to help recoup losses from the Troubled Asset Relief Program and reduce the deficit, according to an administration official… The proposed fee revenue is almost three times what analysts expect the 10 biggest U.S. banks earned in 2009.”

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Fed Earned $45 Billion in 2009

January 12, 2010

“The numbers are good news for the federal budget, a sign that the Fed has been successful in protecting taxpayers as it intervenes in the economy, though there remains a risk of significant losses in the future if the Fed sells some of its investments or loses money on its stakes in bailed-out firms.”

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On Foreign Policy, Obama's Next Three Years

January 12, 2010

John Bolton outlines the stakes: “Obama is not looking to build his foreign-policy legacy on top of disputes that predate his arrival. He is working to move past these, toward the day when he can implement his own foreign policy and national-security agendas.”

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Economy Revised Downward Significantly, Expanded Only 2.2% After All

December 22, 2009

“The economy in the U.S. expanded in the third quarter at a slower pace than anticipated… The 2.2 percent increase in gross domestic product from July through September compares with a 2.8 percent gain previously reported by the Commerce Department in Washington.”

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Reid Bill: Senate Cannot Repeal Portions of Reid Bill Without Supermajority

December 22, 2009

“Today, the Senate President, acting on the advice of the Senate Parliamentarian, ruled that these rules changes are actually just procedural changes and, despite what the actual words of the legislation say, are not rules changes. Therefore, a two-thirds vote is not needed in contravention to longstanding Senate precedent.”

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Rep. Parker Griffith, MD, Switches to GOP in Opposition to Health Care Bill

December 22, 2009

It’s rare a switch like this happens when the majority is so solid. “A radiation oncologist who founded a cancer treatment center, Griffith plans to blast the Democratic health care bill as a prime reason for his decision to switch parties—and is expected to cite his medical background as his authority on the subject.”

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