As cash-strapped municipalities deal with declining tax revenues and too-rosy assumptions made by administrators and union officials, teachers unions are stamping their feet, holding their breath and mouthing the political equivalent of “La, la, la, I can’t hear you.”
We are used to hearing that America defends Israel. President Obama assures Israel that he has their back. That may be convincing talk in the `hood, but it rings hollow from this invertebrate administration to talk about anyone's back. Actually, we may have all that backward. It may well be that Israel that is defending us. Israel may yet prove America's Shield.
On Tuesday, Egypt's chief prosecutor issued arrest warrants against eight US citizens. Their purported crimes relate either to their reported involvement in the production of the Internet movie critical of Islam that has received so much attention over the past 10 days, or to other alleged anti-Islamic activities. One of the US citizens indicted is a woman who converted from Islam to Christianity.
The successful business leaders that sit on the Chicago Board of Education must have checked their brains at the door when they went into the negotiating room with the teachers union. How else could they possibly negotiate a contract that the school district can’t possibly afford?
In September 1938 the British prime minister had a problem. The Third Reich’s psychopath-in-chief was scorching the airwaves in one of his trademark rants, this time about the supposed oppression of Germans living in Czechoslovakia. He threatened war unless Western nations caved to his demands, which was the last thing the British and the French wanted, with torrid memories of the last European conflagration still burning in their thoughts.
His Excellency, President for Life, Field Marshal Al Hadji Doctor Idi Amin Dada, VC, DSO, MC, Lord of All the Beast of the Earth and Fishes of the Seas and Conqueror of the British Empire in Africa in General and Uganda in Particular. Official title of Idi Amin Ruler of Uganda 1971 to 1979
Though Romney picked the wrong statistic and overstated the implications, he indirectly stumbled on a key issue.
Congressman and Senators don’t have intimate understanding of these markets. They also have relationships with banks, trading firms, exchanges and individuals so don’t look for any altruistic market based rules or regulations to come out of their committee hearings. But it’s good that there is a public vetting.
On October 26, 2011, the city of New Orleans criminalized religious expression on Bourbon Street.
Given my five-year skepticism and/or hostility to the potential of a Mitt Romney presidency, the Romulans may feel as if I am one of the last patriots on earth they should take advice from.
One protestor provided his explanation for the continuing protests, "Islam is often ridiculed by America and the West and blasphemy is committed against our Prophet (PBUH) in the name of freedom of expression."
Howard Davidowitz: The only way you fix anything is pain ... I've always thought Bernanke is certifiably nuts. His record speaks for itself.
The DOE will still have $34 billion in remaining lending authority to issue new loan guarantees. And as Taxpayers for Common Sense (TCS) explains, there are going to be plenty of opportunities for taxpayers to get fleeced again
The point is, if you're smart and don't let the cyclical nature of the market fool you, you can snap up incredibly high yields from quality international stocks for an amazing price.
The Congressional Black Caucus was formed in 1971 to advocate on behalf of black Americans and hold lawmakers and the President of the United States accountable for policies adversely impacting blacks.
Last week the Environmental Protection Agency kicked-off its celebration of “Hispanic Heritage Month” with an e-mail message featuring Che Guevara along with his famous slogan, “Hasta la Victoria Siempre.”
Well the Congressional Black Caucus is having their annual legislative week in Washington DC this week opining about their favorite subject "racism". They can't seem to stop reminding their audience that President Obama and his Democratic machine continues to champion their causes and if Romney is elected, we will return to the days of the great plantations.
Amidst all of the talk of religious tolerance and the hand-wringing over free speech in recent days, one salient fact is often lost or glossed over: What we face are not broad questions about the limits of free speech or the importance of religious tolerance, but rather a very specific question about the limits of Muslim tolerance and the unimportance of free speech to much of the Muslin world.
Mitt Romney's comments about 47 percent of Americans being dependent on government and locked in to vote for President Obama highlight a fundamental reality in American politics today: The gap between the American people and the political class is bigger than the gap between Republicans and Democrats in Washington, D.C.
WASHINGTON -- Ever since the attacks of Sept. 11, 2012, the Obama White House has sought to lay blame for deadly and destructive anti-American attacks in Egypt, Tunisia, Libya, Lebanon, Pakistan, Iraq, Afghanistan and more than two dozen other countries on someone else.
What's wrong with the following Associated Press headline? "Charlie Hebdo cartoon spurs French gov't to order embassies, schools to close."
Americans keep saying we want our politicians to level with us, tell us what they truly think, not just go down the familiar list of talking points, giving us the usual collection of platitudes and hoping to be all things to all people. But when a presidential candidate does come right out with it, and tell it with the bark off, we are shocked, shocked.
President Obama's entire campaign strategy is based on an age-old political trick that he can overcome his weakness on the economy by changing the subject.
More and more school districts are holding union contract negotiations in full view of the public.
In the film “The Truman Show,” actor Jim Carrey played lovable simpleton Truman Burbank who, unbeknownst to him, lived his entire life trapped in a television show. His wife, co-workers and friends were all actors, his entire world a finely constructed stage.
When I first heard about published reports that Chick-Fil-A had supposedly reached some kind of an “agreement” with a bullying Chicago alderman to stop donating money to Christian groups like Focus on the Family in order to get permission to open a new store in Chicago, the anguished phone calls from Chick-Fil-A supporters came flooding into my radio show today.
Sip Mouden, CEO of Community Health Centers of Arkansas, says FQHCs are the best kept secret that shouldn't be a secret. When WORLD intern Kira Clark asked 37 charitably minded Americans what they thought about FQHCs, she found that not one had heard of them.
Yet again, the President's policies violate his repeated promise to not raise taxes of any kind on individuals earning less than $200,000 per year or couples below $250,000.
Before what would turn out to be an historic election, a New York Times article said, “If Larry King’s CNN program functioned as a nominating process for Ross Perot; Rush Limbaugh may be a kind of national precinct captain for the Republican insurgency of 1994.”
Here's what really excites me: The average cell phone contains just one-tenth of an ounce of lithium; the average laptop computer about one ounce. By contrast, a plug-in hybrid car, which runs on gasoline and electricity, will need 20 pounds of lithium materials.
The Department of Justice [DOJ] Inspector General [IG] Michael Horowitz testified before the House Oversight and Government Reform committee Thursday and answered questions about his recently released report [OIG] from his office about Operation Fast and Furious.
From the elite, Northeastern liberal arts college our eldest daughter attended, to the sprawling Southern state university where our son recently began his studies, academic “liberalism,” the quest for an expansive and enlightening education, has been soundly replaced with raw, unvarnished leftism.
History is replete with examples of strategic miscalculations in which an over-reach - usually born of contemptuous disdain for a foe - led to disaster for the aggressor. Think Napoleon's invasion of Russia in 1812. Or Hitler's of the Soviet Union 131 years later. We may look back at September 11, 2012 as the kick-off date for such a tipping point in our time.
No one doubts President Obama's formidable intellect. He has never been subjected to the kind of scorn and ridicule that met Dan Quayle's every utterance. After all, as presidential historian Michael Beschloss assures us, Barack Obama is the smartest man ever to occupy the Oval Office. Thus, we all sift through the golden rhetoric of this amazing man.
Have you heard about the ACLU’s latest antics? Their most recent victory is so outrageous, so outlandish, and so ridiculous that words actually fail in trying to describe it. Not surprisingly, this legal theater of the absurd is being played out in Rhode Island.
The Remake of Alfred Hitchcocks' 1963 classic The Birds is playing everywhere. The original film was itself in select theaters across the country last night, part of TMC's special release of old blockbusters, and sure enough it entertained big screen audiences even as it did 49 years ago with the sudden, furious and even deadly attacks of gulls and crows on all manner of people in Bodega Bay, California, from school children to seamen to small town teacher and high society playgirl.
The recently discovered tape on which Barack Obama said back in 1998 that he believes in redistribution is not really news. He said the same thing to Joe the Plumber four years ago. But the surfacing of this tape may serve a useful purpose if it gets people to thinking about what the consequences of redistribution are.
The challenge for modern-day campaigns is that the rapid speed of the news cycle ensures that new news is created on a daily basis, even when it is not really news. Blame the hunger for something novel and fresh that can eat up time on the 24-hour cable news channels.
People, not least himself, have often compared Barack Obama to Franklin D. Roosevelt.
When Bill Clinton spoke at the Democratic National Convention, he took credit for balancing the budget. That Clinton basked in his achievement, of course, surprises no one. Nor is it surprising the media failed to remind people of former House Speaker Newt Gingrich, R-Ga., and his role in pulling this off.
As readers of this column and viewers of Fox News Channel may know, I have not hesitated to criticize Gov. Mitt Romney's presidential campaign and the governor himself. I have argued that his message is muddled and his values are unknown beyond his ardent wish to improve economic conditions through the use of free market mechanisms rather than central economic planning, a position with which I agree entirely.
Obama- yes, that amateur- the guy who thinks the constitution should force us to accept anything the federal government is willing to give a grateful citizenry? THAT Obama has ignored his one undisputed constitutional duty as commander in chief by skipping his daily intelligence briefings 62 percent of the time this year, according to Marc A. Thiessen, a scholar at the American Enterprise Institute
What happens when a free people decides it was never free to begin with? What happens when a nation decides that individual liberty is a myth, that the endless vicissitudes of life form an impenetrable wall to success, that we are all controlled by outside forces?
Perhaps the most significant and disappointing theme that has run through not only my decades in politics, but my years afterward as a pollster and analyst, has been the GOP's increasing tendency to shy away from anyone or anything that is bold or unique. I've watched that play out once again this year, as the same old suspects have struggled with how to use, or not use, Donald Trump.
The educational establishment is ramping up its attack of “Won’t Back Down,” a fictional movie of a parent and teacher teaming up to take over a failing school through a “parent trigger” law.
Whiners play an important part of our efforts to promote progress. If it weren't for cavemen complainers, we'd never have invented fire, or footy pajamas or Honey Boo Boo. You'd still be sitting in a cold cave, in a loincloth, watching a rock.
While ultra-low rates may have made it cheap for qualified borrowers to borrow money, they're also punishing savers. Yields on most savings accounts and certificates of deposit are well below 1%, and the picture isn't much better overseas.
Only our totally unbiased watchdog media could turn the burning of U.S. embassies in countries where Barack Obama had recently supported mob revolts into Mitt Romney's blunder. Journalists couldn't risk having Obama's campaign slogan "Osama is dead" being amended with "and so is our ambassador."
As rudeness is becoming increasingly common in our culture, Americans are finding it more difficult to work with each other. Far too many people now lack morals and manners. The U.S. has become a materialistic culture full of self-interest and lacking in respect for humanity. The outward manifestation of this is an inability to get along with others.
Despite repeated, self-serving claims by Obama officials that the Administration did everything it could to head off and then respond appropriately to the violence against American facilities in Libya and Egypt last week, their blunders in policy, intelligence and security illustrates an incompetence every bit as profound as exhibited by the administration of Jimmy Carter in Iran 33 years ago. It appears nothing has been learned in more than three decades; despite significant gains in technology available to the U.S. government during those intervening years.
Democrats need to change their party mascot from the donkey to the squirrel. They divert the media's and the electorate's short attention spans with fleeting, fuzzy objects -- like the main canine character in the animated Pixar movie "Up," who was easily distracted from his main thoughts and serious duties by every last little moving trifle.
All political candidates call themselves freedom-lovers, but they are not. Neither major party really opposes government control of the economy or of our personal lives. I'm a libertarian because I see the false choice offered by political left and right: Democrats talk about personal liberty; Republicans talk about economic freedom. But what they do once in power belies their words.
Many of the nation's colleges and universities have become cesspools of indoctrination, intolerance, academic dishonesty and an "enlightened" form of racism. This is a decades-old trend. In a 1991 speech, Yale President Benno Schmidt warned: "The most serious problems of freedom of expression in our society today exist on our campuses. The assumption seems to be that the purpose of education is to induce correct opinion rather than to search for wisdom and to liberate the mind."
On September 14 at Andrews Air Force Base just outside the Washington Beltway, President Obama and Secretary of State Clinton welcomed home the remains of four Americans killed at our consulate in Benghazi, Libya. It was a moment of national mourning. The president was presidential, Mrs. Clinton, dignified. But for some journalists, it was, quite strangely and inappropriately something to view only through the tacky lens of politics.
The Obama administration's omnibus answer to why the Middle East (and now much of the Muslim world) is in near open rebellion against the United States: The video did it. The follow-up question no one seems to be asking is: "What if the administration's explanation is true?"
The worst part about censorship is that there are college professors who are too stupid to know what it actually means, or worse, that sometimes pretend to be too stupid to know what it actually means. Censorship occurs when the government stops objectionable speech from being disseminated. It does not occur when the government refuses to actually subsidize speech that may be deemed objectionable. But sometimes professors and low-level college administrators pretend that refusal to fund government speech is censorship.
CNBC trumpets this view in its not-too-subtle homer headline How the White House Is Keeping a Lid on Oil Prices. Yes, how indeed has this White House accomplished the marvelous feat of keeping oil prices low despite a worldwide once-in-100-year recession? Well with due respect to CNBC’s all-knowing wisdom, the truth is that oil prices have not only NOT come down, but on a relative basis, they are still very high.
The explosion of anti-American unrest in the Islamic world will damage the Obama campaign in its drive for reelection for two reasons.
In November 2008, the Americans who turned out to vote in the presidential election outnumbered the Americans who turned out to work full-time by more than 14 million.
Somewhere in the last month or so, Mitt Romney's presidential campaign lost its laser-like focus on the bleak, job- starved Obama economy. It allowed Obama's campaign to define him with a blitz of television ads in the summer, as Romney husbanded his resources and declined to aggressively punch back in the key battleground states that will decide the outcome of this election.
This Sept. 17 marked the 225th anniversary of the signing of the nation’s second great founding document: the Constitution that provides Americans with limited government. Constitution Day never became a day off from work, and it’s hardly marked with pomp and circumstance.
As truth's brilliant light breaks through the fogginess of mistruth as to the reason behind the violent anti-American sentiment currently burning its way across the globe, one thing is for sure: An internet YouTube video is not the culprit, and those who say it is are either seriously misinformed, trying to deflect blame, delusional, lying - or a little of each.
Back in 1987 Professor Paul Kennedy penned an influential tract on the decline and failure of the great powers of the past. Dr. Kennedy’s book stirred up a great deal of interest in the literate classes and, while it did not merit comparison with Edward Gibbon when it came to discussing the decline and fall thesis, it certainly provided food for intellectual musing on the nature of national power and greatness. Kennedy argued that the USA was following the British example and could fall into what he called “imperial overstretch” if we weren’t careful.
It’s an understatement to say that the United States is heading in the wrong direction. We’re still considerably ahead of interventionist welfare states such as France and Italy, though I’m afraid to think about what the U.S. score will be five years from now.
As rioting and violence once again erupt across the Muslim world in response to a perceived insult against their Prophet, the usual apologists are taking to the airwaves assuring the public that despite appearances to the contrary, Islam is a religion of peace.
Dr. Ben Bernanke and Dr. Mario Draghi have continued to juice the patient (economy) with more and more drugs (monetization).
“One party will tax and spend; one party won’t tax but will spend: It’s both of them,” Glenn Beck said at the 2010 Conservative Political Action Conference. “All they’re talking about is we need a big tent. We need a big tent. Can we get a bigger tent? How can we get a big tent? What is this, a circus?”
We need the expansion of private capital; we need to push back government spending which has crowded out the private sector and we must get back to the notion of creating great wealth that will reward all those that break a sweat and encourage those that don't to understand the wisdom of capitalism and its true rewards.
I was a college student in the fall of 1988; it was Presidential election year, and I could finally vote. The choice before me, and the country, then was do we go forward with the policies begun under Ronald Reagan or was it time for a change? Reagan was finishing an incredible run that saw nation’s economy experience an unprecedented rebound and America reestablished as the unquestioned leader of the free world. His Vice President, George H.W. Bush, made clear upon accepting the Republican nomination that “the most important work of my life is to complete the mission we started in 1980.”
In order to collect a divorced-spouse benefit, you must be unmarried. If you did remarry, that marriage must have ended by divorce, death or annulment.
One of the brightest stars in the free market galaxy is the work of the Hispanic American Center for Economic Research, HACER. HACER provides, among many other key services, a multilingual “Drudge Report” for free market news and opinion, crucial to nurturing the growing embrace of free markets.
On August 8, 2012, Der Spiegel claimed Nigel Farage was Europe's 7th most dangerous man. I think Farage is a hero and spelled out my own list in Europe's Most Dangerous Politicians.
The CIA claims that it never saw the storm coming, but Canadian intelligence sure did. Canadian Foreign Affairs Minister John Baird landed in Vladivostok, Russia, earlier this month for the Asia-Pacific Economic Cooperation summit and had barely stepped off the plane when he announced that Canada would be pulling its diplomats out of Iran and closing its embassy while kicking all Iranian diplomats out of Canada.
Last time I checked, Americans were responsible for making our own laws. We do not invite foreign nations to have a say in how we govern ourselves within our own borders. Yet if you follow what's been going on with the United Nations this year, you know that the USA came perilously close to having other countries dictate our gun laws. And the fight isn't over yet.
One of Romney's great skills is the ability to turn around failing enterprises. He did it with private firms while he ran Bain Capital; he did it for an indebted Massachusetts and he did it for the Olympics. He needs to do it for his campaign now.
Have you noticed that the left regularly condemns alleged conservative "hate speech" but is almost completely silent on the most pervasive hate speech in the world?
Perhaps we should inspect more closely our irreconcilable conflict -- what Harvard's Michael Ignatieff calls "the fatal dialectic between Islamic rage and Western free speech." Consider first American values, as seen from an ACLU point of view.
The U.S. National Debt has surpassed $16 trillion. Out of control spending habits of both Republicans and Democrats got us into this fiscal mess. The only way out is through dramatically slashing spending across the board—no exceptions.
"We believe that folks in Benghazi, a small number of people came to the consulate to replicate the sort of challenge that was posed in Cairo," U.S. Ambassador to the United Nations Susan Rice told ABC's "This Week" Sunday.
House Speaker John Boehner was quoted during the Republican National Convention as saying, "Have you ever met anybody who read the party platform? I never met anybody." Scoffing at the party's platform is the typical attitude of establishment-backed politicians who don't want to be bothered with addressing the hopes and goals of grassroots voters. Downgrading the platform is the mark of losing candidates, such as Bob Dole and John McCain.
Taking that larger national debt figure into account, as well as the likely growth in the number of U.S. households, we estimate that the current national debt burden per U.S. household is roughly $131,113.
Tax policy isn’t some sort of magical elixir. The “size of government” variable accounts for just one-fifth on a country’s grade, and keep in mind that this also includes key sub-variables such as the burden of government spending.
In recent days we have witnessed an attack on America’s Embassy in Libya that left four Americans dead, the breach of our Embassy and violent protests in Egypt, and a subsequent political spat between the White House and Governor Romney. Governor Romney blasted the Obama Administration for taking an apologetic stance in the wake of the attacks, pointing to a statement from the U.S. Embassy in Cairo that he described as “akin to an apology.”
It's part of an entitlement society to expect an easy life. Kids at Columbia and NYU hate the idea of driving a cab for a year until the job market improves and people that don't pay federal income tax demand those that pay millions cough up more dough so benefits, like free cell phones, might become more lavish.
Salena Zito, a reporter with the Pittsburgh Tribune-Review, watched Mitt Romney's Sept. 12 news conference from a diner in Wisconsin. Customers paid careful attention to the TV as reporters repeatedly asked Romney if he had made a mistake by criticizing President Obama's handling of the embassy crises in Egypt and Libya. The exchanges left no doubt that Romney's questioners thought he had made a mess of the situation.
While America mourned the 11th anniversary of the Islamic attacks on Sept. 11, 2001, atheist radicals were throwing fuel on the fire. While millions were praying for the friends and families of precious souls lost, self-styled “progressives” were preying upon the most significant symbol of hope to which many of the grieving clung.
The Democratic Party Platform contains just one reference to “God,” and the inclusion of that single reference was famously booed by many delegates at the Democratic convention. In contrast, the Republican Party Platform contains 12 references to “God,” and candidate Romney has emphatically stated, “I will not take God out of the name of our platform. I will not take God off our coins and I will not take God out of my heart. We’re a nation that’s bestowed by God.” Does this make the GOP the party of God?
The true long-term impact of the Chicago teachers strike may be not be known for some time. But there is no mystery about its impact in the immediate term -- anxiety, panic, and disruption for myriad mothers and fathers left in the lurch when 30,000 members of the Chicago Teachers Union walked away from their classrooms last week just as a new school year was getting underway.
Friday night I was on Anderson Cooper's CNN program, AC360 with one of my favorite debate partners, Paul Begala. As neither Paul nor I am a foreign policy expert we talked about the domestic political aspects of the riots - and killings - in the Middle East and North Africa (MENA).
In Libya, U.S. Ambassador Christopher Stevens and three colleagues were murdered Tuesday. Earlier that day, protesters in Egypt stormed the U.S. embassy and tore down the American flag.
Dear Mitt: Despite the fact that I really do not trust or respect you, I have decided to give you some free political advice. I do it for two reasons: First, I would rather have a president I do not really trust (you) than one I actually despise (Obama). Second, the advisors and spokesmen you are paying are doing a woefully inadequate job of directing your campaign. Let me give you a couple of examples.
Suddenly things become very political for a private company when the government gives them more money than any other private concern in the history of our country and that money essentially becomes a gift. You want to get out of politics? Give us back our money, GM. You have $33.6 billion of cash in the bank right now. Yes, we’ll take it. Give it back and we'll call it square.
If Obama is re-elected on November 6th, you haven’t seen anything yet. Because the first Obama term was just a small taste of things to come. Without ever having to answer to voters again, he will be free to be his REAL radical self.
“Government ’help’ to business is just as disastrous as government persecution... the only way a government can be of service to national prosperity is by keeping its hands off.” That is what Ayn Rand has to say about government involvement in the world of business, but the full extent of this practice is difficult to nail down. Tad DeHaven of the CATO Institute investigated the situation to determine exactly how deep the problem runs.
Happy birthday, Constitution! Today marks the 225th anniversary of the signing of this unique and prescient document. Every American should take a moment to reflect on what a treasure we have in America.
Congress may not be popular – just one in seven Americans approve of the job they’re doing – but they are creative. Instead of quietly leaving town ahead of the elections, some lawmakers have decided they should start blaming their constituents for the lack of legislative progress in Washington.
President Obama started his Democratic Convention nomination acceptance speech with one overriding truth: “But when all is said and done – when you pick up that ballot to vote – you will face the clearest choice of any time in a generation. It will be a choice between two different paths for America. A choice between two fundamentally different visions for the future.”
New jobless claims in the U.S. appear to be rising at the fastest rate recorded since the onset of the 2007 recession.
Imagine what Nixon could have gotten away with, with the press on his side! You don't have to imagine. Look around at America, 2012.
You know the Obama-sycophants in the liberal media have crossed over the line when even one of their own can no longer defend them.
That being said, I invite the world to comb through everything I’ve ever done, everything I’ve ever said, and everything I’ve ever written to find the slightest shred of evidence that I am motivated by anything other than a principled belief in liberty.
Are we really surprised by the Middle East uprising against America? This isn’t about the American produced video against the prophet Muhammad. This is about President Obama being a weak defender of America abroad, almost by design. Barely six months in office, Obama decided his first foreign trip, as president, would be to Egypt to apologize to the Muslim world for America behaving badly after 9/11.
William J. Clinton and three other locals – Tim, Jeff and Jack, who declined to give their last names – sat at the Dairy Mart lunch counter, a Carroll County roadside staple on the Lincoln Highway for more than 60 years.
The U.S. Federal Reserve initiated more economic stimulus. And the very next day the U.S. Government received another debt downgrade.
Talk about denigrating women. I know liberals tend to think that women are just uteruses who vote, but, again, you are wrong. Like most liberals, I think you are confused a bit by a woman’s biology. That part doesn’t do a woman’s thinking for her.
"No family should have to set aside a college acceptance letter because they don't have the money," President Barack Obama told the Democratic National Convention as he accepted his party's nomination in Charlotte, N.C., this month.
On Aug. 31, 1983, a South Korean airliner flying from New York to Seoul drifted off course and entered Soviet airspace. After tracking the civilian plane for more than two hours, Soviet fighter pilots were told to shoot it down. They did, killing 269 people, including 60 Americans. It was one of the most shocking atrocities of the Cold War.
Please note that the Townhall Finance column NightWatch first drew attention to inadequate diplomatic security on September 6th after an attack in Pakistan:
It is not often that members of the liberal national media admit their biases. Americans know that the media is not impartial and that objectivity is not a priority when reporting on current events. Americans need and deserve a balanced media.
The politicians, unsurprisingly, didn’t learn the right lessons. Instead of reducing the level of government intervention, they imposed the Dodd-Frank bailout bill (named after two lawmakers who were pimps for Fannie and Freddie and thus disproportionately responsible for the crisis).
Here is the outline of the Fed's plan: buy hundreds of billions of home mortgages annually in order to push down mortgage rates and push up home prices, thereby encouraging people to build and buy homes and spend the extracted equity on consumer goods.