The Hillary Clinton bandwagon. The New York Times seems determined to get Hillary Clinton back in the White House. The latest foray was a column by Bill Keller, The Times’ executive editor from 2003 until last September. In “Just the Ticket,” Keller says to forget about persuading Barack Obama to step aside; that won’t happen. Instead, he wants to move Joe Biden over to the State Department and make Hillary the Vice Presidential nominee. Keller says his proposal would do “more to guarantee Obama’s re-election than anything else the Democrats can do.” Plus, “it makes Hillary the party’s heir apparent in 2016.” Oh, goodie.
How many dollars are at risk in Europe? Robert Lenzner, the national editor at Forbes and a former investment banker, says that European banks hold as much as $10 trillion in U.S. debt. The number includes money-market deposits from U.S. financial institutions, mortgage securities on U.S. properties and direct loans to U.S. businesses. “We are bloody well in this together,” Lenzner warns, with “our crummy banks holding tons of lousy mortgage loans — and Europe’s banks holding tons of lousy loans.” How much further will they be able to kick this can down the road?
“It’s the economy, stupid!” It isn’t the President’s fault that Federal spending has soared or deficits have skyrocketed, according to one Obama apologist. Austan Goolsbee, the former chairman of Obama’s Council on Economic Advisers (now a college professor), says the culprit isn’t government policy, but rather the economic downturn. With more people out of work, tax receipts have dropped, while spending on things like food stamps and unemployment insurance has gone up. Reducing Federal spending, he insists, will just make matters worse.
More Americans flee California and New York. Census Bureau data reveal that in 2010-2011, more and more Americans moved from high tax jurisdictions to low tax ones. The most popular move was from California, the State with the highest combined State and local tax rates in the Nation, to Texas, which has no State income tax. The second most common relocation was from New York (another high tax State) to Florida (which also has no State income tax).