Expect Obama Decision on Afghanistan Troops Next Week: Reports Indicate 34K Increase

November 24, 2009

“The tentative plan is for the president to make his announcement [in prime time] December 1, followed shortly thereafter by testimony on Capitol Hill by Defense Secretary Robert Gates and Adm. Mike Mullen, chairman of the Joint Chiefs of Staff. Also expected to brief Congress is the top commander in Afghanistan, Gen. Stanley McChrystal.”

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Wisconsin Democrat Obey Compares Afghanistan to Vietnam: "No Money For Nothing"

November 23, 2009

“The powerful chairman of the House Appropriations Committee has a stark message for President Obama about Afghanistan — sending more troops would be a mistake that could ‘wipe out every initiative we have to rebuild our own economy.’” Obey: “There ain’t going to be no money for nothing if we pour it all into Afghanistan.”

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Dollar Slump Persisting as Top Analysts See No Bottom

November 23, 2009

No end in sight for the dollar drop: “The most accurate dollar forecasters predict the world’s reserve currency will continue sliding even when the Federal Reserve begins to raise interest rates, which policy makers say is an ‘extended period’ away.”

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Why was it so Hard for Senate Democrats to Start Health Care Debate?

November 22, 2009

“If Democrats, with a 60-vote majority in the Senate, had not been able to begin debate on the top Democratic policy priority in a generation — well, that would have been a devastating turn of events, both for the party and for President Obama.” It cost a pretty penny to get Landrieu, Lincoln onboard.

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China's Zhou Says Their Approach is ‘Passive’ as Dollar Drop Pulls Yuan

November 20, 2009

“China is ‘passive’ on the value of the U.S. dollar, central bank Governor Zhou Xiaochuan said, signaling that policy makers aren’t yet prepared to loosen controls on the yuan.” Zhou: “We just watch the game. Regardless who wins or loses, the issue of whether the winner or loser benefits the spectator doesn’t arise.”

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Both Sides of Congress Turning on President

November 20, 2009

“Episodes in both houses of Congress exposed the raw nerves of lawmakers flooded with stories of unemployment and economic hardship back home [and] underscored the stiff headwinds that the administration faces as it pushes to enact sweeping changes to the financial regulatory system while also trying to create jobs for ordinary Americans.”

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Attacks on Federal Reserve and Treasury Roil Markets

November 20, 2009

Today will be an interesting one: “Political frustration over the rescue of Wall Street and high unemployment erupted in the House Thursday, with one committee threatening to impose tighter scrutiny on the Federal Reserve and another trading verbal insults with Treasury Secretary Timothy Geithner.”

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Showdown Set for Health Care Bill as Reid Slogs On

November 19, 2009

“The Senate bill needs sixty votes to proceed to a floor debate, and Mr. Reid is expected to call a vote later this week, perhaps Saturday if not sooner. If the tally gets to sixty, that would open perhaps the most critical period of legislative action on American health care since Congress created Medicare.”

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Obama Fears Double Dip Recession for US Economy

November 19, 2009

“I think it is important though to recognise that if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the US economy in a way that could actually lead to a double-dip recession.” So, health care!

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Reid's Health Care Bill Chock Full of Tax Increases

November 19, 2009

More than 2,000 pages of financing for bad policy, with excise taxes, payroll taxes, annual fees, and more. “In total the bill would raise taxes by $370 B over ten years.” Keith Hennessey breaks down the way the health care bill is funded. Did you like the Social Security scheme? You’ll love this.

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