And the New York Times added, "Economists see no hint that the bottom has been reached."
Given all of this, one might think lawmakers on the Hill would be anxious to support an ambitious stimulus package, erring on the side of too much spending. That would only be true, however, if our political process made sense."
The phrase is generally considered offensive by most Republicans, and it's easy to understand why. Indeed, no U.S. political contingent wants to be compared to the Taliban.
It came as something of a surprise, then, to see a leading House Republican make the comparison unprompted.
Frustrated by a lack of bipartisan outreach from House Democratic leaders, Rep. Pete Sessions (R-TX), chairman of the National Republican Congressional Committee, said House Republicans -- who voted unanimously last week against the economic plan pushed by President Obama and House Speaker Nancy Pelosi -- will pitch a "positive, loyal opposition" to the proposal. The group, he added, should also "understand insurgency" in implementing efforts to offer alternatives.
"Insurgency, we understand perhaps a little bit more because of the Taliban," Sessions said during a meeting yesterday with Hotline editors. "And that is that they went about systematically understanding how to disrupt and change a person's entire processes. And these Taliban -- I'm not trying to say the Republican Party is the Taliban. No, that's not what we're saying. I'm saying an example of how you go about [sic] is to change a person from their messaging to their operations to their frontline message. And we need to understand that insurgency may be required when the other side, the House leadership, does not follow the same commands, which we entered the game with."
He added that if Democrats don't give the minority party more "options or opportunities," Republicans "will then become an insurgency."
I see. So, a couple of weeks ago, Sen. Jim DeMint of South Carolina compared the Republican Party to "freedom fighters" fighting against a "slide toward socialism." This week, a House GOP lawmaker and chairman of the NRCC compared the Republican Party to an insurgency.
We've gone from the Contra wing of the Republican Party to the Taliban wing of the Republican Party."
Some good news came today that Wall Street had a slight rally. The Financial Times reported:
Here is part Warren's interview with CBS "Early Show" anchor Julie Chen this morning:
Prof. WARREN: Well, they're trying to push money into banks and the question the oversight panel was asking is, `are you getting an equivalent amount back?' And so that's what this was about. Now there could be lots of policy reasons that Treasury might decide that it wanted this money to be in the banks. But our question is the one we put to Secretary Paulson, and that is, `are you putting it in and getting back assets that are worth equivalent value?' He told us yes; our independent investigation said no
CHEN: So are you saying he was lying?
Prof. WARREN: Well, I'm telling you he told us yes and our independent investigation said no.
"I think Barack Obama is a genius. I think this is part of the plan. Do you ever notice when Barack Obama nominates someone, the first thing they do is pay their taxes? He's found a way to pay off the deficit. Nominate every single person in the country one at a time, until they pay off the deficit." --Jay Leno
"As you know, Tom Daschle withdrew his name to be in Obama's cabinet, due to IRS problems. Yeah, he said, 'I will not be a distraction.' See, distraction is Washington talk for, 'Uh-oh, there's a lot more crap you don't know about yet.'" --Jay Leno
"Wasn't it just a couple months ago, these people were making fun of Joe the Plumber for not paying his taxes?" --Jay Leno
"Daschle says that his problems with the IRS were unintentional. Well, of course they were unintentional. He never intended to get caught." --Jay Leno
"I guess the Democrats think IRS means, 'I'm really sorry.'" --Jay Leno
"And you know that woman here in California who just had the eight kids and has six more at home?' Well, today, Tom Daschle proposed to her. He's not in love, he just needs the deductions. 'Please marry me, please!'" --Jay Leno
"The White House issued a statement today saying that the reason their nominees are having such trouble is that the new White House has set the bar very high. See, that shows you what's wrong with politics in this country. That's what the government considers setting the bar high, having to pay taxes like everybody else in America." --Jay Leno
"And today, President Obama announced a salary cap of $500,000 for executives at banks and companies that have received taxpayer bailout money. And you know — it is good. But I'll tell you something, you can tell a lot of these CEOs don't get it. They said, 'Well, that's $500,000 a month, right?'" --Jay Leno
"Speaker of the House Nancy Pelosi recently said that every month that we do not have an economic recovery package, '500 million Americans lose their jobs.' I think the Botox is starting to seep into her brain." --Jay Leno
"And the US Postal Service says they may cut postal service from six days to five days a week. They say they're losing money because people aren't using the postal service as much as they used to. If you'd like to complain, you can e-mail the complaint to uspostalservice.com." --Jay Leno
The new US energy secretary predicts agriculture in California will disappear in this century because of global warming. He said people in California will no longer grow crops, except those who are growing them in their basements, attics, and garages." --Jay Leno