The Political Chase

TPC Roundup

The Economy and Employment Declines

“Former Federal Reserve Chairman Alan Greenspan said the current market turmoil is in many ways ‘identical’ to that which occurred in 1987 and 1998, when the giant hedge fund Long-Term Capital Management nearly collapsed,” the Wall Street Journal reports (sub. req.).

U.S. employment lost 4,000 jobs last month primarily related to substantial drops in construction and manufacturing payrolls, indicating the crisis in the housing market is effecting the economy as a whole. It is the first decline in jobs since August 2003. See the report here.

Indeed, we need more Bush tax cuts for those with income in the top one-percent of the country. But fear not, the U.S. military has plenty of job openings with $20,000 signing bonuses to boot.

A Nation at War

“Gen. David H. Petraeus, the top American commander in Iraq, has told President Bush that he wants to maintain heightened troop levels in Iraq well into next year to reduce the risk of military setbacks,” the New York Times reports. However in a token gesture, Petraeus indicated he could “accept the pullback of roughly 4,000 troops beginning in January, in part to assuage critics in Congress.”

In stark contrast to to Gen. Petraeus’s assessment, but more in line with the recent GAO report, the Independent Commission on the Security Forces of Iraq recommended “disbanding the 25,000-strong Iraqi national police force [and] to redirect U.S. troops toward protecting Iraq’s borders and key infrastructure,” the Washington Post reports. “The report released yesterday…described the national police force as riddled with sectarianism and corruption.”

However, we can always depend on President Bush’s realistic assessment of the war, “‘We’re kicking ass.” Clearly, the president’s assessment bears the most credibility as evidenced by the killing of seven U.S. troops in Iraq yesterday.

In his customary recognition of the of the 9/11 anniversary, Osama bin Laden will reportedly release a new video.

Finally, on the topic of war, more than 50 years ago, the U.S. engaged in the Korean War, in summary, to protect South Korea from North Korea and the spread of communism. The war ended in a stalemate in 1953, however thousands of U.S. troops have remained in South Korea to deter any further aggression from North Korea. In another display of arrogance and stupidity in foreign policy, George Bush revised history, again, refusing to leave another sovereign country when asked to by its leader. Now the Korean War is about North Korea’s possession of nuclear weapons, which they did not have until the 21st century. According to USA Today:

President Bush had an awkward exchange over peace on the Korean peninsula with one of his prickliest allies: South Korean President Roh Moo Hyun.” Appearing before reporters after an hour-long meeting” in Sydney, “Roh suddenly pressed Bush to clarify what it would take for the United States to agree to an official end to the Korean War…. Bush said North Korean dictator Kim Jong Il would have to end his nuclear weapons program before a treaty could be reached.

Restoring the Constitution

In a devastating blow to the Bush administration’s longstanding abuse of power, U.S. District Judge Victor Marrero (New York) struck down the use of “national security letters” (NSL) — a provision of the Patriot Act — as unconstitutional. The judge declared the NSL’s violate the First Amendment and the Constitution’s separation of powers because the Act does not allow the recipient of an NSL (e.g. AT&T, financial organizations, Internet providers, etc.) to reveal its existence and does not provide appropriate judicial oversight.

“The House Judiciary Constitution Subcommittee took a step forward Thursday toward granting habeas corpus rights to detainees at the U.S. detention facility at Guantanamo Bay, Cuba,” CongressDailyAM (sub. req.) reports. “The bill repeals part of a law enacted late last year, known as the Military Commissions Act, that barred such actions by detainees. The right would not apply to detainees in areas of active combat.”

Scandals

Resigning, not resigning, resigning. Who knows. Sen. Larry Craig and the GOP continue to flip-flop over his “wide-stance” in a men’s bathroom at the Minneapolis airport. “Idaho’s senior Republican congressman called on Sen. Larry Craig on Thursday to make it clear he will leave his seat by Sept. 30, as GOP leaders sought to remove any doubt that the embattled senator will resign within weeks,” the USA Today reports.

“Disgraced Democratic fundraiser Norman Hsu was arrested in Colorado late Thursday after he failed to show up for a court appearance related to a felony theft conviction,” the AP reports. “FBI agents took Hsu into custody at St. Mary’s Hospital in Grand Junction, Colo.” Presidential hopeful Sen. Hillary Clinton (D-NY) said she plans to give to charity the $23,000 her campaign received from Hsu.