Entries

Treasury Slows Printing Press

The New York Times reports : The number of dollar bills rolling off the great government presses here and in Fort Worth fell to a modern low last year. Production of $5 bills also dropped to the lowest level in 30 years. And for the first time in that period, the Treasury Department …

Written by FrumForum News on Wednesday July 6, 2011

Sorry, the Debt Limit Looks Constitutional

Despite what some would hope, it looks like the debt ceiling is indeed constitutional. With negotiations over the debt limit going down to the wire, the threat of a catastrophic default looms on the horizon. In order to prevent this disaster from happening, some analysts and experts think …

Written by Ajay Ravichandran on Wednesday July 6, 2011

Libya to Charge 21 Rebel Leaders in Special Court

The Associated Press reports : Libyan prosecutors plan to charge rebel leaders with national security crimes, seeking to convict as traitors those leading the armed uprising against Moammar Gadhafi that has plunged the country into civil war, officials said Wednesday. A judge compiling the …

Written by FrumForum News on Wednesday July 6, 2011

Egyptian Politician Touts Conspiracy Theories

The Washington Times reports : A leader of Egypt ’s top secular party says the Sept. 11, 2001, terrorist attacks were “made in the USA,” the Holocaust is “a lie” and Anne Frank ’s memoir is “a fake” — comments sure to roil the post-revolution political debate in the Arab world’s most …

Written by FrumForum News on Wednesday July 6, 2011

Republicans Stall on Repeal Agenda

POLITICO reports : When they took control of the House, Republicans could barely stop talking about their plans to “repeal and replace” the health care reform law. Six months later, they hardly talk publicly about those plans at all. And they’re nowhere close to "replacing” the law. …

Written by FrumForum News on Wednesday July 6, 2011

Japan Considers Stress Tests for Nuclear Reactors

Reuters reports : Japan's government is considering conducting stress tests on nuclear reactors to ease safety concerns which have blocked the restart of idled reactors since the March quake and tsunami, but is likely to delay the nation's first nuclear restart since the disaster. Japan is …

Written by FrumForum News on Wednesday July 6, 2011

40 Militants Killed In Yemen Air Strikes

BBC News reports : Forty militants have been killed in two days of air strikes by Yemeni forces in the southern province of Abyan, Yemen's state news agency Saba says. Two soldiers were also killed as Yemeni troops retaliated against al-Qaeda militants who stormed army camp. The unrest …

Written by FrumForum News on Wednesday July 6, 2011

The Sinister Agenda of the Gaza Flotilla

The strategy to end the embargo imposed by Israel on Gaza is simple: create a clash with the IDF, portray Hamas as the victim and Israel as a bully. Is it a coincidence that the last flotilla desperately trying to reach Gaza is setting sail from Greece? While the Greek economy is imploding, …

Written by Emmanuel Navon on Wednesday July 6, 2011

US: Terrorists Could Surgically Implant Bombs

The Huffington Post reports : The U.S. government is warning airlines that some terrorists are considering surgically implanting explosives into humans to carry out attacks. There is no intelligence pointing to a specific plot, but the U.S. has shared this information with executives at …

Written by FrumForum News on Wednesday July 6, 2011

China Raises Interest Rates

The New York Times reports : China on Wednesday raised interest rates for the fifth time in nine months, the latest in a series of moves aimed at cooling the pace of economic growth and the steep price rises that have accompanied expansion. The central bank announced that it was …

Written by FrumForum News on Wednesday July 6, 2011

The Real Debt Debate Sticking Point?

Politico insinuates that a big sticking point for the GOP in the debt-ceiling negotiations is a demand that the earnings of hedge funds continue to be taxed at the 15% capital-gains rate rather than income-tax rates. Politico insinuates this morning that a big sticking point for the GOP in the …

Written by David Frum on Wednesday July 6, 2011

Who Reads Bob Woodward's Books?

Tevi Troy writes : It never fails. Every few years, the Washington Post’s Bob Woodward produces a new book, and within days official Washington has analyzed and argued about it. It becomes part of the conversation, its anecdotes shared at parties, its methods and revelations debated. But …

Written by FrumForum News on Wednesday July 6, 2011

Romney Raised Over $18M In Second Quarter

The Hill reports : Former Massachusetts Gov. Mitt Romney (R) raised $18.25 million by the end of June to support his presidential campaign, it was announced on Wednesday. Romney, the putative frontrunner for the GOP nomination, announced the hefty sum, which included contributions from …

Written by FrumForum News on Wednesday July 6, 2011

Dust Storm Hits Phoenix

The Huffington Post reports : A massive dust storm descended on the Phoenix area on Tuesday night, drastically reducing visibility and delaying flights as strong winds toppled trees and caused power outages for thousands of residents in the valley. The towering dust cloud that hit the area …

Written by FrumForum News on Wednesday July 6, 2011

TARP Makes $10 Billion in Profit

The Hill reports : The federal government has reaped a $10 billion profit on bank loans made under the controversial Troubled Asset Relief Program (TARP). The Treasury Department announced Tuesday that the government had pulled in another $1.7 billion in proceeds stemming from TARP …

Written by FrumForum News on Wednesday July 6, 2011

IMF Institutes Ethics Training

The Washington Post reports : Christine Lagarde has held three chairs in the French cabinet, helped run a major global law firm, earned several advanced academic degrees and is a member of the French Legion of Honor. Among her first duties as managing director of the International …

Written by FrumForum News on Tuesday July 5, 2011

Afghan Parliament Debates Karzai Impeachment

The New York Times reports : Members of the Afghan Parliament came to blows Tuesday as a majority for the first time began to discuss impeaching President Hamid Karzai , signaling the near-total breakdown of relations between the Parliament and the president as the country teeters on the …

Written by FrumForum News on Tuesday July 5, 2011

Congress Calls for Safer Nuclear Storage

The New York Times reports : ...The nuclear calamity at Japan’s Fukushima Daiichi plant has refocused attention on the vulnerability of spent fuel pools at the 104 operating American nuclear plants. The pools are generally far more packed than the damaged ones at Fukushima. Some …

Written by FrumForum News on Tuesday July 5, 2011

Budget Cuts Shorten Class Time

The New York Times reports : After several years of state and local budget cuts, thousands of school districts across the nation are gutting summer-school programs, cramming classes into four-day weeks or lopping days off the school year, even though virtually everyone involved in …

Written by FrumForum News on Tuesday July 5, 2011

Filipinos Ban Chinese Diplomat Over Island Spat

The Huffington Post reports : Philippine officials have banned a senior Chinese diplomat from meetings for alleged rude behavior, in the latest fallout from a feud over the potentially oil-rich Spratly Islands, officials said. Department of Foreign Affairs officials said Tuesday that …

Written by FrumForum News on Tuesday July 5, 2011