Obama Speaks to the Muslim World
G-20 Summit Agrees to International Spending Plan
A Wall Street Journal editorial this morning points out that Indiana Republican Senatorial candidate Richard Mourdock is getting pounded by his Democratic rival for having opposed the Chrysler bailout.
The central economic selling point of the Obama reelection team is that the president saved the U.S. auto industry. That such a contestable proposition serves as the administration’s economic headline does more to underscore its abysmal record than to inspire confidence in its continued economic stewardship.
On Monday the Supreme Court released its last orders for the calendar year. Of particular note – apart from the non-release of the long-awaited decision in the Citizens United campaign finance case – the Court dismissed the cert petition in Indiana State Police Pension Trust v. Chrysler LLC as moot and vacated the underlying Second Circuit opinion. While this is not the ideal outcome – particularly for the Indiana creditors – it is in its own way an important decision preserving the integrity of bankruptcy law.
As described in the current Cato Policy Report, one of the “Hard Lessons from the Auto Bailout” is that management at GM is likely to be “highly erratic, as the president and Congress wrestle for decisionmaking primacy at this majority taxpayer-owned entity.” The “dealerships” issue is Exhibit A.
I caught a lot of flack from my Republican friends for my post blaming the FY2009 deficit on Bush instead of Obama. Well, I must be a glutton for punishment because I can’t resist jumping (albeit reluctantly) to Obama’s defense again. I’m venting my spleen for two reason. First, FoxNews.com posted a story headlined “Obama Shatters Spending Record for First-Year Presidents” and noted that: