Here is Michael Grunwald’s excellent profile, and Rick Stengel’s explanation of how the Fed Chairman was chosen Person of the Year.
So tell us, Swampland commenters: Did TIME make the right pick?
Economy
Ben Nelson Is Lobbied By Someone Who Has Been There
If the changes in the health care bill are indeed enough to bring Joe Lieberman aboard, it looks as though we are back to the point where all eyes are on Nebraska Senator Ben Nelson as potentially the 60th vote to bring the bill over the finish line in the Senate. As you might imagine, Nelson is getting pressure from all sides. One of …
A Jobs Speech with Elbows
The President gave a terrific economic speech today, proposing some new jobs-creating initiatives, one of which–a 0% capital gains tax rate for small businesses–seems a Republican dream, but was hilariously opposed on deficit cutting grounds by Senator Mitch McConnell…whose votes on a range of budget items during the Bush presidency …
Obama’s Human Resources
As the White House jobs summit gets under way today, here’s a story looking at congressional efforts for a jobs stimulus bill. Given the GOP tarnish on the last stimulus bill, members have pushed back hard at the suggestion that any future efforts might be labeled a stimulus. “I wouldn’t characterize it as a second
stimulus,” House …
Chuck-ing Health Care
We’re in the grip of election fever here in DC. Could (gasp!) Jon Corzine lose the governor’s race in New Jersey? What might a Bob McDonnell victory in Virginia mean for Republicans? For that matter, what could a Doug Hoffman win in the NY23rd mean? But, just in case you forgot, there is still a national debate going on on heath care …
4 for 2010?
House Republicans are starting to pull together an agenda for 2010. It’s not as sweeping as the Contract with America, or, even, Six for 06. But if you’re a small businessman with a commercial real estate problem or a company wondering how you’re going to pay for mounting unemployment insurance costs — than this plan’s for you. Once, …
Odd Economic Indicators
The Consumer Confidence Index is so old-school. If you really want to know how the economy is doing, you should be paying attention to whether there’s been a pickup in the market in second-hand cemetery plots, there are more hikers on the Applachian Trail and whether your waitress is smokin’ hot. All of these, economically speaking, are …
Bending the Cost Curve
How one Congressional Budget Office score salvaged Max Baucus’ day and possibly his bill.
When Senate Finance Chairman Mac Baucus finally revealed his long anticipated bill, his Democratic colleagues treated the proposal like the open salvo in barter exchange and Baucus like a used Turkish rug merchant they were sure was out to …
Protests
From TIME’s Sophia Yan:
Ripples of protesters, thousands of them of all ages, lined Pennsylvania Avenue from the White House to the Capitol Saturday. Deafening chants could be heard, from “You lie, you lie!” echoing South Carolina Representative Joe Wilson’s outburst during President Obama’s Wednesday speech to plaintive
…
Cash for Clunkers Hits a Rough Patch in the Senate
The House managed to pivot on a dime and quickly pass legislation to expand funding by $2 billion for the surprisingly popular Cash for Clunkers program before adjourning for summer recess last week. The Senate this week is finding such expedited moves rather more difficult. Turns out the program has opponents from both the left and the …
Cash for Clunkers?
The House is racing to get outta Dodge this afternoon and despite rampant senioritis on the Hill, Speaker Pelosi kept enough members here long enough to pass H.R. 3435 to provide an additional $2 billion in stimulus funds to the wildly successful cash for clunkers program. The vote was bipartisan, passing 316-109 with six voting present, …
Badda Bam
Sure, last week’s dramatic arrests in New Jersey of 44 people including three mayors, two state assemblymen and five rabbis wasn’t great news for the already embattled Jon Corzine. On the other hand, Corzine’s pegging his campaign to New Jersey’s economy, so what does he care?
At least someone’s having fun with it:
[vodpod …
Why Pensions May be More Vulnerable
My story on the negotiations on the bail out bill on the Hill. The point that Paulson and Bernanke made about pensions is interesting. Despite all the laments that Americans aren’t saving enough for retirement, this is a massive market: more than $1.9 trillion in DB pensions, $2.5 trillion in 401(k) savings and $4.75 trillion in IRAs …