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In the worst performance in 25 years, the U.S. economy shrank by 6.2 percent in the final three months of 2008.
The new estimate of the fourth-quarter GDP was issued by the Commerce Department, and is larger than the initial projections of 3.8 percent. It is the largest drop in a single quarter since the first [...]
Kinsley: Words for a Shaken People
By Paul Amy
Published: February 27, 2009
“We’re having an earthquake,” said my wife. It was early one recent morning, as we sat drinking coffee and reading the day’s gloomy economic news. Was she being metaphorical? At this hour? We sat in nervous silence for a few seconds, mentally listing our regrets. (Her: Why didn’t we put flashlights in all the bedrooms? [...]
O’Keefe: Pentagon Workers Pitched Part-Time Work
By Paul Amy
Published: February 27, 2009
Earlier this week a loyal reader sent The Eye a Craigslist jobs listing posted by an apartment rental company with properties in Northern Virginia seeking Pentagon-based Department of Defense employees interested in marketing nearby furnished apartments to employees temporarily assigned to the massive government building.
“We will pay you a $100 PER MONTH PER PERSON that [...]
Cillizza: Friday Line: Ten Republicans to Watch
By Paul Amy
Published: February 27, 2009
The Fix is still getting acquainted with our new arrival — Charlie Cillizza! — but we couldn’t let a Friday pass without giving our readers a new Line.
Given the focus on the Conservative Political Action Committee gathering this weekend — rightly interpreted as the first major event of the 2012 GOP nomination fight — we [...]
Krugman: Climate of Change
By Paul Amy
Published: February 27, 2009
Elections have consequences. President Obama’s new budget represents a huge break, not just with the policies of the past eight years, but with policy trends over the past 30 years. If he can get anything like the plan he announced on Thursday through Congress, he will set America on a fundamentally new course.
The budget will, [...]
New Government Role in Student Lending
By Dr. Alan J. Lipman
Published: February 27, 2009
At the end of the Bush administration, the federal government rather quietly increased it’s role in student lending practices, helping to buy up a lot of loans.
In a contract signed the day before Bush was to leave office, the Department of Education agreed to buy $60 billion in student loans.
The New York Times reported:
“The government [...]
U.S. Combat Mission in Iraq to End in 2010
By Nathan Barten
Published: February 27, 2009
President Barack Obama has officially announced that all combat forces will be pulled out of Iraq by August 2010. The move has gained broad support from even unlikely sources including Sen. John McCain and other congressional Republicans.
The troop draw down will facilitate the increased military presence in Afghanistan and is also a first step the [...]
Stewart, Video of the Night: Fox News Reports Joe Biden’s Gaffe
By Dr. Alan J. Lipman
Published: February 27, 2009
The Daily Show With Jon StewartM – Th 11p / 10c
Colbert, Video of the Night: Claire McCaskill’s Twittering
By Dr. Alan J. Lipman
Published: February 27, 2009
The Colbert ReportMon – Thurs 11:30pm / 10:30c
Coleman May Ask for Do-Over Election
By Nathan Barten
Published: February 27, 2009
As if Minnesotans haven’t suffered enough at the hands of their battling Senate candidates, Norm Coleman has now hinted that the best course of action to clear up the ongoing legal battle after November’s election would be the scrap the first go-round and hold an entire state-wide election again. The idea has been punted around [...]