Cake or Death: The Democrats try to come up with a 50th way to run away from war in Iraq

Al Gore says global warming is YOUR fault!
"He betrayed this country! He played on our fears!"
You don't say...

September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

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Wednesday, July 25, 2007

The Democrats try to come up with a 50th way to run away from war in Iraq

Murtha's waving the white flag again, although maybe he thinks it's only slightly off-white as opposed to bleached white (a la scared sh*tless).

WASHINGTON - House Democrats have drafted new Iraq legislation they hope will appeal to Republicans fed up with the war: Start withdrawing troops in two months but leave it up to President Bush to decide when to complete the pullout.

[...] The House has passed similar anti-war measures in the past, but has been unable to push the legislation through the Senate, where Democrats hold a slimmer majority and Republicans have routinely blocked such bills from advancing.

Most recently, the House approved legislation that would have required troop withdrawals to begin this November and finish by April 1.

Under his latest plan, Murtha said he envisions troop withdrawals to start in November and take about a year to complete. A draft of his proposal did not include a firm end date.

So Genereal Patreus gets the requested "surge" in troops which he's only had now for a couple months (and which was overwhelmingly approved in the House and Senate), but since that didn't result in an immediate victory, surrender or all terrorists, peace on earth and goodwill toward men, the Dems resort to handwringing, wailing, and moaning again. And who better to do the handwringing for the Dems than the consumate handwringing professional, John Murtha.

So we'd still have to start withdrawing troops in November, but date to finish withdrawal is slightly murkier than the original April Fools Day.

Maybe at some point Murtha will realize the profound Freudian nature of that final exit date and put away his white flag once and for all... but I'm certainly not going to bet on it...

Labels: Congress, GWOT, Iraq, Murtha

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