But Stockman says blame lays not with the tax code (indeed, he pioneered a trickle-down approach to taxes under Reagan) but with the Fed. Obama "is talking about a symptom, but he's clueless as to the cause. The cause is not capitalism. The cause is not some entrepreneur out there trying to invent something and improve the performance of his business. The problem is in the Eccles building [home to the main office of the Fed] and in the 12 people sitting there and thinking that interest rates are some magic elixir that'll cause this very troubled and difficult economy to revive," Stockman said. read more
Top Pentagon officials and a senior Democrat in Congress so distrusted Secretary of State Hillary Rodham Clinton's 2011 march to war in Libya that they opened their own diplomatic channels with the Gadhafi regime in an effort to halt the escalating crisis, according to secret audio recordings recovered from Tripoli.
The ink was scarcely dry on the federal fingerprint pad last week when the usual suspects began lining up behind the biggest fish US Attorney Preet Bharara has hauled in to date: New York Assembly Speaker Sheldon Silver."I've always known Shelly Silver to be a man of integrity," announced Mayor de Blasio, without an atom of irony."There is no one in public life in New York who has fought more effectively, for decades, for almost everything I care about in public policy than Sheldon Silver," Richard Gottfried of Manhattan, one of the Assembly's longest-tenured members proclaimed with a straight face."I want to see the facts before I have an opinion," said Gov. Cuomo -- ominously for him, also an object of curiosity to the feds. read more
As Greece prepares for an election which could decide the fate of Europe, find out how the EU project is slowly falling apart in the ten major member states and two cities which form its heart.Europe is being swept by a wave of popular disenchantment and revolt against mainstream political parties and the European Union.In 2007, a majority of Europeans - 52 per cent - trusted the EU. That trust has now fallen to 35 per cent.Once, Britain's Euroscpeticism was the exception, and seen as the biggest threat to the future of the EU.But now other countries pose a far bigger danger thanks to the political discontents unleashed by the euro. read more
Just before midnight, the police navigated down the narrow alleys of an old downtown Cairo district and descended on a rundown bathhouse. They dragged out dozens of nearly naked men, who covered their faces as they struggled to hold up towels, and loaded them into police trucks.The raid last week is the latest in a crackdown that gay rights activists say has made 2014 the worst year in a decade for Egypt's gay community. Homosexuals have been driven deeper underground, fearing not only arrest but also the public scare-mongering against the community drummed up in the media. read more