Given the hearty support Barack Obama received in Europe last month, he must have noticed the surprise and skepticism among some Germans when he asked that Europeans contribute more for defense. Many Europeans argue they cannot afford such an additional expenditure. They are right. And therein lies a cautionary tale for the United States, because continental Europe has been following something like Obama’s plans for spending and taxes, says R. Glenn Hubbard, dean of Columbia University Business School. The spending shortfalls in Social Security and Medicare are large. Obama has indicated he would solve the long-run solvency of Social Security (a good thing), but ruled out benefit cuts to achieve solvency and looked first to payroll taxes (a bad thing), says Hubbard: According to the Congressional Budget Office, left unchecked, Social Security and Medicare spending would, after a generation, consume about 10 percentage points more of gro...
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WASHINGTON (Reuters) - Former Deputy Attorney General Eric Holder has accepted President-elect Barack Obamas offer to head the Justice Department, a senior Democrat said on Tuesday.... more
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eeuu-bolivia (previsión) 19-11-2008 Morales visita EEUU con la esperanza de mejorar las relaciones con Obama El presidente boliviano, Evo Morales, inició hoy una visita a Washington en medio de fuertes tensiones con EEUU y con la intención de sentar las bases para mejorar la relación con el Gobierno que presidirá Barack Obama a partir de enero.La agenda de tr... more
Hillary = Change? From: cincinnatisports.com Post Date: 2008-11-18 13:44:58
The change keeps coming!
Quote:
By Dick Morris And Eileen McGann
11.18.2008
If Barack Obama appoints Hillary Clinton as his Secretary of State, it will send a cynical message to his supporters: that change is something they can still only hope for. Because if Obama relies on this unqualified Washington insider to fill one of the most important positions in his ‘outsider’ administration, it will represent neither change nor hope, ju... more
Currently, there are 73 Americans serving life sentences for crimes they committed when they were 13 or 14 years old, a number far higher than in Europe, says the New York Times. The differences in the two approaches, legal experts say, are rooted in politics and culture: The European systems emphasize rehabilitation, while the American one stresses individual responsibility and punishment. Corrections professionals and criminologists here and abroad tend to agree that violent crime... more
Piracy has a harmful impact on U.S. produced copyright products and on the overall U.S. economy. In 2005, piracy conservatively cost motion pictures, sound recordings, business software and entertainment software/vide collectively at least $25.6 billion in lost revenue. Beyond the cost to the copyright industries, this lost revenue translates into lost production of legitimate copyright products, which in turn means lost wages and lost purchases of upstream products and services througho... more
WORLD BANK WEARY From: feeds.feedburner.com Post Date: 2007-10-19 06:19:54
As globalization transforms the world economy, the World Bank’s comparative advantage for lending to poor countries is gone and its role diminished, says Adam Lerrick, professor of economics at Carnegie Mellon University. There are new competitors without the bank’s social wish list: China, Brazil, India and Russia are funding infrastructure and industry for even the poorest countries, to lock in access to raw materials and export markets. China alone will send $25 billion to ... more
Despite ample evidence to the contrary, liberal publications have devoted great space and attention to attacking the entire theory that lower tax rates can increase incentives for investment, saving and work, says Stephen Moore, senior economics writer for the Wall Street Journal editorial board. The quality of this discourse rarely rises above the level of trash talk. Nevertheless, some arguments are repeated with such regularity that they need to be addressed. One is that supply-... more
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