Home mortgage interest rates are the lowest in history, but house sales are plunging. Banks can make money easily because of the Federal Reserve's low interest rates, but they're not making many loans. Major corporations are sitting on something like $2 trillion in cash, but they're not investing.
In 1978, Justice Lewis Powell wrote an opinion in the Bakke case asserting that the need for diversity could justify racial preferences in university admissions. No other justice joined this opinion, but because the other justices were split 4-4, Powell's opinion decided the case, and in time his argument has been embraced by a majority of the court. A regrettable result, in my view, but a consequential one.
About 10,000 men and women have served in the United States Congress. Robert C. Byrd, who died Monday at age 92, served longer than all the rest - -more than 57 years, with six in the House and 51 in the Senate.
We didn't need this. By "we," I mean the large majority of citizens who want America to succeed in Afghanistan. By "this," I mean the Rolling Stone article that quoted Gen. Stanley McChrystal and his aides saying uncomplimentary things about Barack Obama, Joe Biden and other civilian officials.
Thuggery is unattractive. Ineffective thuggery even more so. Which may be one reason so many Americans have been reacting negatively to the response of Barack Obama and his administration to BP's gulf oil spill.
"Government in New York is too big, ineffective and expensive," the candidate's website proclaims. "We must get our state's fiscal house in order by immediately imposing a cap on state spending and freezing salaries of state public employees as part of a one-year emergency financial plan, committing to no increase in personal or corporate income taxes of sales taxes and imposing a local property tax cap."
How bad a defeat did labor unions suffer when Sen. Blanche Lincoln defeated their candidate and won the Arkansas Democratic runoff last week?
Republicans are encountering some speed bumps on what they hope is the road to victory in the November elections. Their candidates for Republican open Senate seats in Ohio and Missouri are running no better than even in recent polls. The independent candidacy of Gov. Charlie Crist is threatening Marco Rubio's bid to hold the Republican Senate seat in Florida.
An interesting thing about Barack Obama is that he chose, on two occasions, to live in Chicago -- even though he didn't grow up there, had no family ties there, never went to school there.
Obama Struggling to Show He's in Control," reads the headline on The Washington Post's story on Barack Obama's Thursday press conference, where most of the questions were about the Gulf oil spill. "Defensive, unauthoritative and equivocal," wrote Congressional Quarterly's Craig Crawford of Obama's performance. "He came across as a beleaguered bureaucrat in damage control."
Intraparty civil war. It's a story line journalists often employ, though usually about only one party, the Republicans.
This month, three members of Congress have been beaten in their bids for re-election -- a Republican senator from Utah, a Democratic congressman from West Virginia and a Republican-turned-Democrat senator from Pennsylvania. Their records and their curricula vitae are different. But they all have one thing in common: They are members of an appropriations committee.
Laments about polarization are filling the air -- or at least that part of the air in which friends and family members have political discussions. It has been widely noted that every Republican member of Congress has a voting record to the right of every Democrat and every Democrat is to the left of every Republican. There is no partisan overlap anymore.
If you want to watch someone squirm, take a look at the two-minute videotape of Attorney General Eric Holder dodging Republican Rep. Lamar Smith's question of whether "radical Islam" motivated the Times Square bomber.
Professor chooses professor. That's one headline you could write about Barack Obama's nomination of Elena Kagan to the Supreme Court.
LONDON -- We Americans may have declared our independence from Britain in 1776, but there are still similar rhythms in British and American politics. Margaret Thatcher and Ronald Reagan both came to power amid the ruins of the 1970s and restored their nations' economies and spirits in the 1980s. Bill Clinton and Tony Blair both developed "third-way" politics that transformed unelectable left parties into center-left political colossuses in the 1990s.
British voters go to the polls today, and it appears likely that they will boot out the party in power for only the second time in 31 years. Margaret Thatcher's Conservatives ousted a Labor government in May 1979, and Tony Blair's "New Labor" party ousted the Conservatives in May 1997.
Left parties are in trouble in the Anglosphere. Here in America, Democrats are doing worse in the polls than at any time in the last 50 years.
Setting legislative priorities has been one of the chief tasks of American presidents for the past century. Sometimes, they concentrate on changing public policy. At other times, they highlight issues for political reasons, with an eye to the next election.
The Obama Democrats' stealth strategy for increasing the size and scope of the federal government is well underway, despite huge voter backlash. Federal spending has been increased from a 30-year average of 21 percent of gross domestic product to 25 percent, and a bipartisan commission tasked with reducing the deficit may recommend tax increases.
