The day after President Obama's big news conference, and on the day Treasury man Tim Geithner unveiled his Bank Bailout Nation TARP III Plan, stock markets plunged in a vote of no-confidence, with the Dow dropping nearly 400 points.
"Round up everybody that can ride a horse or pull a trigger," John Wayne says in "Chisum." "Let's break out some Winchesters."
Having allowed his Republican opponents to dominate the economic debate for two weeks as his stimulus proposal languished, President Obama used his first news conference to rebut them -- coolly and civilly, yet without leaving any doubt that he can strike back harder if necessary.
The patient is in trouble. That much we know. About that everyone is certain. There are mounting job losses, record deficits, banks failing, mortgages underwater, layoffs looming.
President Barack Obama's first presidential news conference was performed feebly by the once-ferocious White House press corps and shrewdly -- if deceptively -- by the president.
Back in May 2000, Harry Markopolos, a Massachusetts fraud investigator, provided detailed evidence to the Securities and Exchange Commission that financier Bernard Madoff was a fraud. Eight years later, the SEC figured that out -- albeit after Madoff told federal authorities he had defrauded investors of up to $50 billion.
Barack Obama never guaranteed he would end partisan rancor in Washington. He said he'd try.
The popularity of newly elected President Barack Obama combined with the willingness of most voters to give him the benefit of the doubt is a powerful political force working in favor of the economic rescue plan now being debated on Capitol Hill.
This is not going to be a column that dumps on the misguided and clearly troubled Nadya Suleman -- the 33-year-old unemployed single Whittier mother of six who gave birth to octuplets last month. Of course, a single mother of six has absolutely no business having more children.
How do you explain it when jobs plunge and stocks surge? That's what happened Friday, as the January employment report revealed a disastrous 598,000 drop in payrolls. Actually, the job loss was 664,000, if you count downward revisions to the prior two months. Meanwhile, the unemployment rate moved up from 7.2 percent to 7.6 percent. So there's no sugar coating it: It was a terrible report.
Tuesday, Feb. 3, was a terrible, horrible, no good, very bad day for Barack Obama.
Ruth Bader Ginsburg is small in stature, but she has very big shoulders. Alongside a generation of women lawyers, I stand on them, with gratitude and pride. The news that the only woman on the United States Supreme Court has been hospitalized for surgery for pancreatic cancer brings an opportune moment to say thank you.
Back in October, after the Obama economic stimulus plan had grown from $60 billion to $175 billion and House Speaker Nancy Pelosi had doubled the amount she wanted to spend to $300 billion, I asked, "Do I hear $450 billion?"
Mythology is overshadowing history in the debate over President Barack Obama's plan to stimulate the depressed economy. Excessive airtime isdevoted to the prejudices of cable hosts and radio personalities who regurgitate ideas they barely understand (and who haven't entertained an original thought since the Reagan era).
It was not a good day for ethics in government.
There has been some confusing reporting in the past few days regarding President Barack Obama's plans for the Defense Department budget. Officially, the Office of Management and Budget is claiming that it will increase the budget by 8 percent. But because most of the Iraq and Afghanistan war costs have been funded through supplemental appropriations rather than the regular department budget, total military funding remains a mystery.
Tom Daschle's withdrawal from consideration as future secretary of Health and Human Services had to happen. So seemingly strong on health-care policy but weak on ethics, the man President Obama had picked to remake the American health-care system had set off wild mood swings among the public.
Americans now know that the "change we can believe in," which President Obama promised, means a taxes-optional administration. Treasury Secretary Timothy Geithner rode out the bad news about his failure to pay $34,000 in Social Security and Medicare taxes on income he earned while working for the International Monetary Fund, and still won confirmation. The man now in charge of the IRS says it was "an innocent mistake."
So why would the estimable Sen. Judd Gregg (R., N.H.) quit his job to become commerce secretary in the Obama administration?
Of course California's prison inmates are entitled to reasonable 21st-century health care. Unfortunately for taxpayers, Clark Kelso, the federal receiver in charge of California's prison health care has, as state Attorney General Jerry Brown noted at a news conference last week, a "gold-plated wish list" for California's prison health care system.
