Fed Announces Another $800 Billion in Bailout Funding
The Bush administration and the Federal Reserve announced on November 25 almost $800 billion dollars in additional funds to help, bail out, or otherwise prop up the financial sector,...
About: Gary Benoit
Posts by Gary Benoit
Do Trillion Dollar Deficits Matter?
Vice President Dick Cheney infamously informed former Treasury Secretary Paul O'Neill in 2002: "Paul, Reagan proved deficits don't matter." Now comes news that bailout-mania combined with already out-of-control domestic...
Bailout Bill Did Not Stop Stock-market Slide
The enactment of the now-notorious $700 billion bailout package did not stop the downward slide of the stock market, as its proponents had promised. Recall that when the stock...
Piracy May Draw U.S. Into Somali Vortex
In December 1992, just weeks before lame-duck President George Bush left office, the United States invaded Somalia to attempt to stabilize and provide humanitarian aid to the famine-wracked nation....
Obama’s Plan for “National Service”
A key platform of Obama's campaign is an effort to increase Americans' willingness to serve the government, along with more federal funding for service programs. "I won't just ask...
Obama’s Health Plan
President-elect Barack Obama's "Blueprint for Change" calls for "affordable, accessible health care for all." After a quote from a speech he gave in Iowa City explaining that we have...
Looking Beyond the Global Economic Summit
The much-ballyhooed international economic summit in Washington is over, and, according to news reports, little was accomplished aside from agreement on various vague goals by the delegations from 21...
War Without End, Amen
The New York Times revealed on November 10 the existence of yet another secret administration policy that had been hidden from the American people: "Since 2004 [the Bush administration]...
Will the Constitution’s Trial Rights Finally Be Vindicated?
More than six years after they were thrown into a U.S. prison, the New York Times has reported that six Algerian detainees may finally get their day in court....
Obama Would Worsen the Financial Mess
If the language in his first post-election press conference is any indication, Senator Barack Obama will be true to his profligate campaign promises. He pledged in that November 7...
Marriage Defined by California Voters
Voters in California approved their Ballot Proposition 8 by 52 percent to 48 percent, which amended the state constitution to define marriage as between one man and one woman....
Why McCain and the Republicans Went Down
During the Republican presidential debate in Durham, New Hampshire, in September 2007, Congressman Ron Paul warned that "we've dug a hole for ourselves and we've dug a hole for...
What Happened to the Third-party Presidential Candidates?
During the presidential campaign, as well as on election night, the major media generally ignored the third-party candidates who threw their hats into the presidential ring. These largely ignored...
A.I.G. Burning Through Bailout Loan
The American International Group is burning through its $123 billion bailout loan quickly. According to Edward Liddy, the man brought in to restructure the company, it may soon need...
Companies Line Up for Bailout Bucks
With the federal government doling out $700 billion of Americans' hard-earned money under the new bank bailout law, a sizeable list of companies is competing fiercely for a share—...