The Roundup

By: Tuesday August 10, 2010 4:01 pm

Wish me luck, guys: I’m about to head out for my “Professional Left” license. Been working as an amateur up until now. Fingers crossed! Until then: • With respect to the “professional left” comments, and Robert Gibbs’ really terrible walkback, I pretty much said what I wanted to say on this the last time it [...]

Senate May Return to Finish Off Border Security Bill

By: Tuesday August 10, 2010 1:59 pm

In addition to passing the state fiscal aid bill today, the House passed a border security bill that was identical to what the Senate passed last week. But because the Senate used the wrong type of shell bill to pass it, there were constitutional concerns, so the House instead passed their own version, which will [...]

BP Escrow Fund Dependent on Additional Drilling?

By: Tuesday August 10, 2010 1:19 pm

In a sense, this was always the case. BP makes their money from drilling for, and selling, oil, and so their continued viability in running that business affects whether they have the cash available to pay out the $20 escrow fund for compensation to those hit by the oil disaster. But the deal between BP [...]

House Passes State Fiscal Aid Bill

By: Tuesday August 10, 2010 12:32 pm

With relatively few defections from the caucus, House Democrats passed a bill providing $26.1 billion dollars to states for their Medicaid programs and education budgets, by a count of 247-161. All Democrats but 3 supported the bill, and all Republicans but 2 opposed it. The specific tallies will be released shortly. Earlier, Democrats passed the [...]

Federal Reserve Goes Small After FOMC Meeting

By: Tuesday August 10, 2010 11:53 am

The Federal Open Market Committee has just released a statement on the outcome of their meeting today, and they do acknowledge the shaky state of economic recovery, saying that the pace will now be “more modest in the near term than had been anticipated.” And they’re going to do something about it! But not a [...]

Only Statistical Improvements in Housing Mess Coming From Additional Foreclosures

By: Tuesday August 10, 2010 11:12 am

Good news! Fewer homeowners are underwater, down to an incredible (sarcasm) 21.5%. Bad news! That’s because more homes have gone into foreclosure: And the reason for the drop isn’t that the housing sector is healing, but that “more homes entered the foreclosure process.” “While some of the downward pressure on negative equity is coming from [...]

Obama Will Nominate a Spate of New Financial Regulators in the Coming Months

By: Tuesday August 10, 2010 10:37 am

Katrina vandenHeuvel caused a stir last night by tweeting that the White House would choose Elizabeth Warren to run the Consumer Financial Protection Bureau. This would have been big news if Robert Gibbs didn’t pick today to go kamikaze on the “professional left.” Marcy is absolutely right that the nomination would only be the first [...]

Report: Ted Stevens Died in Alaska Plane Crash

By: Tuesday August 10, 2010 10:00 am

Alaska’s KTUU is reporting that former Alaska Senator Ted Stevens, the longtime Senate Republican, died in a small plane crash near the city of Dillingham last night. Dave Dittman, a family friend and former aide, made the statement to KTUU. Details are incredibly sketchy about the state of the passengers, which included former NASA Administrator [...]

Turnabout: House Democrat Calls for Senate to Return to Session

By: Tuesday August 10, 2010 9:15 am

The House is meeting at this hour to consider the state fiscal aid bill and a border security funding measure. They came off a scheduled six-week break to do so, in part because the Senate handed them a bill and basically demanded that they return. However, the border funding bill that the Senate passed was [...]

Republican Politicians Clam Up When Asked About the Laffer Curve

By: Tuesday August 10, 2010 8:40 am

Last week, Andrew Samwick asked an important question about the Laffer curve, the theory written on the back of a napkin by Arthur Laffer asserting that tax cuts increase tax revenues: Restated, if these tax cuts raised revenue, then why not keep cutting them until the point at which revenues actually begin to fall? I [...]

Google/Verizon Fallout Is Intense; Advocates Slam Net Neutrality Framework

By: Tuesday August 10, 2010 8:05 am

Eric Schmidt and Ivan Seidenberg, the CEOs of Google and Verizon, have an op-ed in today’s Washington Post that basically recapitulates their joint policy agreement on the open Internet. It doesn’t really cover any new ground, highlighting their support for network neutrality on the “public Internet,” while asserting a distinction between that and wireless networks: [...]

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