The Daily Grind
9:37 AM, Apr 26, 2010 • By MARY KATHARINE HAM
George W. Bush memoir coming in November.
National Democrats now want the power to [regulate insurance rate increases] across the country, because they know how unrealistic their cost-control claims really are. Democrats are petrified they'll get the blame they deserve when insurance costs inevitably spike. So the purpose of this latest Senate bill is to have a pre-emptive political response on hand.
Financial regulation showdown: "Senate Republicans said Sunday they plan to block efforts to move forward with an overhaul bill unless Democrats alter central elements of the legislation. Meanwhile, Democrats and Obama administration officials spent much of the day finalizing strict new rules to rein in the huge derivatives trade, including measures that could threaten profits at some of the biggest banks."
Can we cut? "Spending cuts have proved politically sustainable in other advanced countries. Economist Tyler Cowen, writing in The New York Times, notes that in the last two decades Canada, Sweden and Finland all cut government spending 20 percent within a few years when faced with structural budget deficits. It may have been painful, but no one saw starving people in the streets of Ottawa, Stockholm or Helsinki."
Coffee Party members not so keen on their civility platform after all: “I like the civility idea, but I hate the Tea Party people,” said attendee Karen Anderson.By the end of the event, some in the crowd had decided the movement, barely two months old at the time, needed a new leader. China Dickerson, a 26-year-old community organizer, said the Coffee Party wouldn’t last “unless we get someone a little more powerful to head it.” She wanted a rabble-rouser, “not someone that says we can all work together.”
Gee, I wonder why: "Not every Democrat running wants the midterms nationalized, and this will lead to some disagreements."
On the nature of a bailout: "Recouping funds after the fact might be a good way to protect taxpayers, but it is preposterous to claim that this makes the Dodd bill anything other than a bailout. The ability of the government to put money into a failing firm and make payments to counterparties at its discretion is what makes the Dodd proposal a permanent bailout authority, not the issue of who pays after the fact."
Ross Douthat on the "South Park" Mohammed flap: "This is what decadence looks like: a frantic coarseness that “bravely” trashes its own values and traditions, and then knuckles under swiftly to totalitarianism and brute force."