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Monday, November 7, 2005 |
Azstarnet: "Over the next week, Congress is likely to trim federal spending and insist with a straight face that it's getting government spending under better control.
It's not.
The government spends more than $2.5 trillion every year. Congress's savings would trim less than half of 1 percent of annual spending.
Lawmakers are making symbolic spending cuts while skirting the real drains on the federal budget.
In addition, Congress intends to make tax cuts permanent, which would drain $70 billion in revenues through 2010 - more than the spending cuts it's struggling to find.
The real problem is that the government's unfunded liabilities - what the government already owes or has promised citizens - are growing at staggering rates.
'Unless the situation is reversed, at some point, these budget trends will cause serious economic disruptions,' Alan Greenspan, Federal Reserve chairman, told Congress's Joint Economic Committee on Thursday."
It seems likely that big-ticket spending on tax cuts, defense, and homeland security will continue, but Medicare and Social Security will be further reduced.
George W. Bush is ruining America.
11:42:00 AM 
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CommonDreams: "Karl Rove, still under investigation for his alleged role in leaking the identity of an undercover CIA agent, faced possible implication in further scandal yesterday after the resignation of an ally accused of misusing public broadcasting funds for partisan political purposes.
Kenneth Tomlinson, a friend of the powerful presidential adviser for a decade, was forced to resign on Thursday as chairman of the Corporation for Public Broadcasting (CPB), where he set out to correct what he saw as liberal media bias. An internal report found he had overreached in those ambitions."
11:31:45 AM
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TimesOnline: "Tony Blair is set to face an unprecedented parliamentary inquiry into his conduct in the run-up to the Iraq war.
A coalition of Tory and Labour MPs is to table a motion to set up a Commons committee to examine 'the conduct of ministers' both before and after the war. They believe they need the support of about 30 Labour rebels to succeed."
11:25:56 AM
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ChinaView: "Although Dutch troops in Afghanistan never exchanged fire with al-Qaeda or Taliban fighters, the Dutch air force lost some 80 million euro worth of equipment in the past year, a record for Dutch missions abroad."
The only reason the Dutch are in Afghanistan is to show the government's subservience to the US. The money is wasted. If the US hawks had not created and armed the Taliban to oust the Russians, Afghanistan would have been a heaven now compared to the present hell.
11:19:16 AM
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