Bad news, good news
October 23rd, 2008 by AriBad News:
I’ve complained before about the national debt before, but out current “fiscally conservative” Republican leadership has brought us to new levels of debt making my previous rants based on obsolete data. I would just like to correct that by pointing out that our debt has now crossed $10,000,000,000,000.00 (1×1013) and the debt clock is having a rollover issue.
Good News:
The TED spread is down below 2.5% and the commercial paper rates are also falling back to reasonable rates. You may now all exhale. (At least until the next round of bank earnings reports).
October 23rd, 2008 at 11:23 am
Worse news: neither of the major-party candidates are pushing a fiscally conservative approach. McCain’s a little closer, in the sense that Boise is closer to DC than Seattle is, but they’re both cause for frustration on this front.
October 25th, 2008 at 6:49 pm
The Republican leadership, with a few exceptions (most notably, John Boehner of Ohio in the House, and John McCain and Tom Coburn in the Senate), has abandoned fiscal conservatism for much of the duration of the Bush administration. I have been a big critic of Bush’s insane fiscal policies; I much prefer the policies of an unrestrained hatchet.
Even if McCain isn’t campaigning as a solid conservative on fiscal matters, he is trying to attract voters in the center – and his record shows him to be responsible. At least, when he raises money for his campaign, it isn’t illegal:
http://www.powerlineblog.com/archives/2008/10/021881.php