Tag: Politics

Here comes Simpson-Bowles to spare the bloated Pentagon budget and avoid letting the Bush/Obama Tax Cuts expire:

U.S. Treasury Secretary Timothy Geithner recently suggested the Simpson-Bowles deficit reduction framework is the way forward in terms of balancing the federal budget. [..]

“We need to take advantage of the incentive created by the sequester and these expiring tax cuts to force this town to confront and take on the things that divide us now in these long-term fiscal reforms so we can go ahead and govern,” he said. “This is a place where people spend a lot of time worrying whether Washington can work again and for Washington to say, ‘We’re going to defer,’ I don’t see how that would be helpful to confidence.” [..]

David Dayen at FDL News Desk adds his take on Geithner’s appearance before the Council on Foreign Relation:

The lame duck session has so many fiscal issues expiring at the same time that many view it as an opportunity to put together the long-sought “grand bargain” on deficit reduction. Erskine Bowles and Alan Simpson have recently come out of their shells and resumed a high-profile media tour in an effort to get their framework into the discussion for the lame duck session. The Bowles-Simpson plan does include tax increases of hundreds of billions above the Bush tax cut rates, albeit lower than what would occur if the Bush tax cuts were allowed to completely expire.

Because of this, Democrats like Nancy Pelosi have embraced Bowles-Simpson to tease Republicans for their opposition to higher tax rates. But that also puts Democrats on the hook for embracing cuts to the social safety net, including Medicare and Social Security. And on Wednesday, Geithner said that Bowles-Simpson is “the only path to resolution politically [and] growing essentially economically, and I think that’s where it’s going to end up.” He didn’t make the caveats on Social Security or other entitlements.

David also noted that Sen. Max Baucus (D-MT), chairperson of the tax writing Senate Finance Committee, would hold hearing in the next few weeks on Bowles-Simpson and Domenici-Rivlin, which combine revenue-raising tax reforms with restraint on entitlement spending. Baucus told The Hill:

“My view is everything’s on the table,” Baucus said. “That’s a psychology which I think is very important to keep people talking, keep people working.”

In his comprehensive article on Geithner’s alliance with JP Morgan CEO Jamie Dimon and Cat Food Commission co-chair former Sen. Alan Simpson (R-UT), Richard (RJ) Eskow had this to say about the coming of Simpson-Bowles:

Geithner said Simpson-Bowles was the perfect recipe: “tax reforms that raise a modest amount of revenue tied to spending savings across the government that’s still preserving some room to invest in things that matter to how we grow moving forward.” He added, “There’s no plausible way to get there economically or politically without that kind of balanced framework again that marries tax reform with broader spending reforms,”

Geithner is joining leading Democrats on the Hill like Sen. Max Baucus and Rep. Nancy Pelosi in backing the plan. And take careful note of the fact that they’re all using the phrase “tax reform” instead of “tax increases.” They don’t just plan to pay for the wealth and misdeeds of the Dimon crowd with your Social Security and Medicare benefits. They also plan to raise your taxes, not theirs. The Simpson Bowles plan would actually lower the top tax rate for people like Jamie Dimon, while “tax reform” would tax away tax deductions for the middle class’s health insurance, mortgages, and other expenses.

All our elected officials are completely out of touch with what Americans want and need. Yes, indeed, something wicked this way comes.

Well, almost. President Barack Obama, who has deported more undocumented immigrants than any president since 1892, will stop deporting Hundreds of thousands of illegal immigrants who came to the United States as children:

The policy, effective immediately, will apply to people who are currently under 30 years old, who arrived in the country before they turned 16 and have lived in the United States for five years. They must also have no criminal record, and have earned a high school diploma, remained in school or served in the military.

These qualifications resemble in some ways those of the so-called Dream Act, a measure blocked by Congress in 2010 that was geared to establish a path toward citizenship for certain young illegal immigrants. The administration’s action on Friday, which stops deportations but does not offer citizenship, is being undertaken by executive order and does not require legislation. It was announced by the Department of Homeland Security.

What the younger immigrants will obtain, officials said, is the ability to apply for a two-year “deferred action” that effectively removes the threat of deportation for up to two years, with repeated extensions. “This is not immunity, it is not amnesty,” said Janet Napolitano, the homeland security secretary. “It is an exercise of discretion.”

Why now? Political expediency. Obama needs the Latino vote:

The Obama administration has failed to deliver on its promise to lift the threat of deportation for law-abiding undocumented immigrants, according to an alliance of Hispanic and civil rights leaders who warn that disappointment among Latino voters could damage the president’s chances of being re-elected.

A new report from the Fair Immigration Reform Movement (Firm) (pdf) criticises the department of homeland security for failing to implement its own policy that switched the target of deportations onto serious criminal offenders, or the “worst of the worst”.

Firm concludes that the lack of implementation could “undermine the credibility of President Obama’s standing with Latino and immigrant communities nationwide“.

Obama = Lying Hypocrite:

[C]onsider Obama’s 2008 campaign promise that he would tackle immigration reform his first year in office. He now has to explain why he failed to do this: “The challenge we’ve got on immigration reform,” Obama said in a Univision interview last month, “is very simple. I’ve got a majority of Democrats who are prepared to vote for it. And I’ve got no Republicans who are prepared to vote for it.”

That is a bold faced lie:

The DREAM Act would have passed if Democrats had shown unity on the measure.

But five Democrats voted against the legislation: Kay Hagan of North Carolina, Mark Pryor of Arkansas, Ben Nelson of Nebraska and both Montana Democrats, Jon Tester and Max Baucus. West Virginia Sen. Joe Manchin announced his opposition to the DREAM Act Saturday in a statement Saturday but missed the vote.

Three Republicans crossed party lines to vote for the bill: Indiana Sen. Richard Lugar, Alaska Sen. Lisa Murkowski and Utah Sen. Bob Bennett.

Maybe if Obama had put some pressure on those 5 “Democrats” the bill would have passed.

The Obama administration claims that the number are up because they are focused on deporting criminals is another lie: Most of the immigrants who were deported were Latinos and not criminals:

[L]ess than 50 percent of the people removed have a criminal conviction, according to the Homeland Security Department’s own statistics. For example, 387,000 people were deported in 2010, of which only 169,000 had committed a crime. The statistics also show that the large majority of deportations are Latinos. Roughly 73 percent are from Mexico, 8 percent from Guatemala, 6 percent from Honduras and 5 percent from El Salvador.

Remember, this is a president who talks indignantly about the immigration enforcement laws passed by GOP legislators in Arizona, Alabama, Georgia and South Carolina – calling them “misdirected” and “bad law.” He has even instructed his Justice Department to challenge them in court.

This is good news for those undocumented immigrants who came to this country as children with their families. It is a step forward in solving a problem that Obama could have done three and half years ago without congressional approval but has chosen to do it now just to get the Latino community vote. The one thing it is not, a step towards citizenship. Hypocrite.

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

Paul Krugman: We Don’t Need No Education

Hope springs eternal. For a few hours I was ready to applaud Mitt Romney for speaking honestly about what his calls for smaller government actually mean.

Never mind. Soon the candidate was being his normal self, denying having said what he said and serving up a bunch of self-contradictory excuses. But let’s talk about his accidental truth-telling, and what it reveals.

In the remarks Mr. Romney later tried to deny, he derided President Obama: “He says we need more firemen, more policemen, more teachers.” Then he declared, “It’s time for us to cut back on government and help the American people.”

Bill Boyarsky: Who’s Not Putting Americans Back to Work

The Federal Reserve report on Americans’ finances documents the terrible damage the Great Recession has inflicted on the nation, a toll that has been clear to its victims since the collapse began. The report’s dry language doesn’t begin to describe how bad things really are, and it stops short of blaming those who perpetuate the misery.

In pursuing this story since 2007, I and other journalists have seen foreclosed homes and visited unemployment offices, free food distributions, community health centers and mental health counselors. Former donors were now coming to free health clinics and food banks to get help themselves, an experience that will be forever remembered by their families. Lost homes, jobs and hopes are the legacy of this period.

Egypt’s high court has dissolved the first democratically elected Parliament and declared that former President Hosni Mubarak’s last prime minister, Ahmad Shafiq, can remain in the race for president:

The rulings by the Supreme Constitutional Court, whose judges are Mubarak appointees, escalated the power struggle between the Brotherhood and the military, which stepped in to rule after Mubarak’s fall. The decisions tip the contest dramatically in favor of the ruling generals, robbing the Brotherhood of its power base in parliament and boosting Ahmad Shafiq, the former Mubarak prime minister who many see as the military’s favorite in the presidential contest against the Brotherhood’s candidate.

Senior Muslim Brotherhood leader and lawmaker Mohammed el-Beltagy said the rulings amounted to a “full-fledged coup.”

“This is the Egypt that Shafiq and the military council want and which I will not accept no matter how dear the price is,” he wrote on his Facebook page.

The Brotherhood and liberal and leftist activists who backed last year’s revolution against Mubarak accused the military of using the constitutional court as a proxy to preserve the hold of the ousted leader’s authoritarian regime and the generals over the country. Many of them were vowing new street protests.

Hossam Bahgat, director of the Egyptian Initiative for Personal Rights, said in a Twitter post:

Egypt just witnessed the smoothest military coup. We’d be outraged if we weren’t so exhausted

— hossam bahgat (@hossambahgat) June 14, 2012

According to the BBC, last year’s Parliamentary elections were “against the rules”

The court had been considering the validity of last year’s parliamentary election, because some of the seats were contested on a proportional list system, with others on the first-past-the-post system.

It decided that the election law had allowed parties to compete for seats reserved for independent candidates.

The head of the supreme court Farouk Soltan told Reuters: “The ruling regarding parliament includes the dissolution of the lower house of parliament in its entirety because the law upon which the elections were held is contrary to rules of the constitution.”

Many of the seats ruled unconstitutional were won by the Muslim Brotherhood.

In his New York Times article, David D. Kirkpatrick noted the consequences of the new president taking power with no Parliament to hold him on check:

The ruling means that whoever emerges as the winner of the runoff will take power without the check of a sitting Parliament and could even exercise some influence over the election of a future Parliament. It vastly compounds the stakes in the presidential race, raises questions about the governing military council’s commitment to democracy, and makes uncertain the future of a constitutional assembly recently formed by Parliament as well.

The decision, which dissolves the first freely elected Parliament in Egypt in decades, supercharges a building conflict between the court, which is increasingly presenting itself as a check on Islamists’ power, and the Muslim Brotherhood.

The ruling, by the highest judicial authority in Egypt, cannot be appealed and it was not clear how the military council, which  has been governing Egypt since Mr. Mubarak’s downfall in February 2011, would respond. But in anticipation that the court’s ruling could anger citizens, the military authorities reimposed martial law on Wednesday.

The ruling is a result of the Islamic dominated Parliament passing a law that barred prominent figures from the old regime from running for office. Critics of the law said that it targeted Shafiq and the court, in its ruling, said that the law lacked “objective grounds”, was discriminatory and violated “the principle of equality.”

Since the Mubarak’s fall, Egypt’s military has promised to hand power to an elected president by the start of July, but with no constitution and now the prospect of no parliament to write one, the new president is unlikely have his powers defined by the time he comes into office. And that has all the earmarks of a disaster for the Arab Spring and democracy in Egypt.

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

Ibrahim Mothana: How Drones Help Al Qaeda

“DEAR OBAMA, when a U.S. drone missile kills a child in Yemen, the father will go to war with you, guaranteed. Nothing to do with Al Qaeda,” a Yemeni lawyer warned on Twitter last month. President Obama should keep this message in mind before ordering more drone strikes like Wednesday’s, which local officials say killed 27 people, or the May 15 strike that killed at least eight Yemeni civilians.

Drone strikes are causing more and more Yemenis to hate America and join radical militants; they are not driven by ideology but rather by a sense of revenge and despair. Robert Grenier, the former head of the C.I.A.’s counterterrorism center, has warned that the American drone program in Yemen risks turning the country into a safe haven for Al Qaeda like the tribal areas of Pakistan – “the Arabian equivalent of Waziristan.”

New York Times Editorial: The Court Retreats on Habeas

When the Supreme Court ruled in 2008 that Congress could not strip federal courts of jurisdiction to hear habeas corpus petitions from non-American prisoners at Guantánamo Bay, the 5-to-4 majority opinion written by Justice Anthony Kennedy appeared to be a landmark victory for the rights of detainees. “The laws and Constitution are designed to survive, and remain in force, in extraordinary times,” Justice Kennedy wrote in Boumediene v. Bush, and “the framers decided that habeas corpus, a right of first importance,” must be part of the American legal framework.

But this week the court rejected appeals in seven habeas cases involving detainees challenging the legality of their imprisonment. (The justices also rejected an appeal in a separate civil suit brought by Jose Padilla, an American citizen, against former Defense Secretary Donald Rumsfeld and other officials for abuse and torture during his detention.) With no dissents in the denials, it is devastatingly clear that the Roberts court has no interest in ensuring meaningful habeas review for foreign prisoners.

JP Morgan Chase CEO Jamie Dimon testified today before the Senate Banking Committee about the $2 billion plus loss from it’s “London Whale” gambling with depositor and tax payer money. He was hardly contrite. Not only did Dimon whine about the complexity of the federal regulatory system but he lied, blatantly, this from Yves Smith at naked capitalism:

In Senate testimony, Dimon revealed his idea of “portfolio hedging” to be even more egregious than the harshest critics thought. Dimon presented the job of the CIO to be to make modest amounts of money in good times and to make a lot of money when there’s a crisis. (That does not appear to be narrowly true, since in the last couple of years, during which there was no crisis, the CIO’s staff were among the best paid in the bank and produced significant profits for the bank. That is a bald faced admission that the CIO’s mandate had nothing to do with hedging. A hedge is a position taken to mitigate losses on an underlying exposure should they occur. Instead, Dimon has admitted that the mission of the CIO is to place bets on tail risks that are unrelated to JP Morgan’s exposures. A massive, systemically destructive strategy like the Magnetar trade would fit perfectly within the CIO’s mandate.

Needless to say, this definition is an inversion of not just what the Volcker rule was meant to stand for (limiting financial firm gambles with taxpayer money), it’s NewSpeak, or in this case, DimonSpeak: “a hedge is whatever I say it is, no more and no less.” Another bit of DimonSpeak was his specious response when he was arguing against the Volcker rule. The JP Morgan chief asserted that a customer loan could be construed to be a prop trade. Um, no, Volcker applies to trading books. The fact that he’d run a line like that shows how little he thinks of the intelligence of the Senate Banking Committee and the public generally. [..]

It was instructive to see how effective confident misrepresentation can be. Most of the Republican senators fawned over Dimon after the ritual scolding at the top of the hearings, and I suspect most of the media will simply replay his lines uncritically. There were a few that will work against him, like his reluctant admission that the Volcker rule might have prevented the failed London trade. But in general, reducing complex situations to soundbites allows for obfuscation and misdirection, which is exactly what Dimon and his ilk are keen to have happen.

During the testimony, Dimon admitted to responsibility for the failed trade that could possibly lead to criminal charges for violation of Sarbanese-Oxley, but even under this Democratic administration, no one believes that, certainly not Yves or David Dayen at FDL:

Dimon also deflected blame for the losses. David Dayen recounts the conference call that took place during the hearing with economists Rob Johnson and Bill Black:

Dimon tried to blame the losses on a lot of factors, and in such a way that doesn’t trip up his priorities later. As economist Rob Johnson mentioned in a conference call, Dimon has been lobbying vociferously against things like the Volcker rule. So he doesn’t want this Fail Whale mix-up to lead to a stronger regulatory environment. He tried to explain the trades as a hedge (never saying that they were one, but that he “believed” they were one, to keep him out of trouble), that would make small amounts of money in good times and more money when things went bad. They were also specifically tied to business in Europe. Bill Black, who was also on the call, targeted this as a non sequitur. “He said that senior management ordered the CIO to get out of the risk out of this underlying supposed hedge,” Black said. “But a hedge is supposed to be reducing risk, and it was protecting you from Europe going bad, when Europe is going bad. So it should have been making more money at this time.”

Black continued. “Instead of reducing the risk, the CIO went into a vastly more complex series of derivatives and went far larger, and they hid the losses. I mean, my God. They violated direct orders, lose a ton of money and lie about it. Dimon described a massive insurrection by the CIO.”

Most of the senators soft peddled their questions and Sen. Jim DeMint (R-SC) actually asked Dimon for advice about banking regulations and Sen. Richard Shelby (R-AL) doesn’t believe in second guessing the banksters. The closest any of the questioners came to holding Dimon accountable for the losses was Sen Jeff Merkley (D-OR). It was during that exchange that Dimon admitted he was responsible for the losses.

All in all another farce by our politicians who are owned by the man before them.

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Wednesday is Ladies’ Day

Follow us on Twitter @StarsHollowGzt

Elinor Ostrom: Green from the Grassroots

((Note: Elinor Ostrom, the first and only woman to receive the Nobel Prize in Economics, died today (6/12) at the age of 78. In her final syndicated column, she champions those local communities that have not waited for global agreements or policies from above, but have taken it upon themselves to create ‘organic’ policies to manage shared resources and adapt to current global challenges and the ones ahead.))

Much is riding on the United Nations Rio+20 summit. Many are billing it as Plan A for Planet Earth and want leaders bound to a single international agreement to protect our life-support system and prevent a global humanitarian crisis.

Inaction in Rio would be disastrous, but a single international agreement would be a grave mistake. We cannot rely on singular global policies to solve the problem of managing our common resources: the oceans, atmosphere, forests, waterways, and rich diversity of life that combine to create the right conditions for life, including seven billion humans, to thrive.

We have never had to deal with problems of the scale facing today’s globally interconnected society. No one knows for sure what will work, so it is important to build a system that can evolve and adapt rapidly.

Katrina vanden Heuvel: Obama’s ‘Kill List’ Is Unchecked Presidential Power

A stunning report in the New York Times depicted President Obama poring over the equivalent of terrorist baseball cards, deciding who on a “kill list” would be targeted for elimination by drone attack. The revelations – as well as those in Daniel Klaidman’s recent book – sparked public outrage and calls for congressional inquiry.

Yet bizarrely, the fury is targeted at the messengers, not the message. Sen. John McCain (R-Ariz.) expressed dismay that presidential aides were leaking national security information to bolster the president’s foreign policy credentials. (Shocking? Think gambling, Casablanca). Republican and Democratic senators joined in condemning the leaks. Attorney General Eric H. Holder Jr. – AWOL in the prosecution of rampant bank fraud – roused himself to name two prosecutors to track down the leakers.

Please. Al-Qaeda knows that U.S. drones are hunting them. The Pakistanis, Yemenis, Somalis, Afghanis and others know the U.S. is behind the drones that strike suddenly from above. The only people aided by these revelations are the American people who have an overriding right and need to know.

Cross posted from The Stars Hollow Gazette

The much anticipated keynote address on the opening night at Netroots Nation 12 in Providence, RI was, I dare say, over two hours of my life I will never get back. While I understand the need for levity, thus the comedic interludes by emcee Baratunde Thurston, the number of speakers was just too many and they were unfortunately long winded, even for politicians. I wasn’t alone in that assessment. After nearly two hours Schneiderman had not reach the stage, so I decided to “stretch my legs” before I embarrassed my self by dozing off and falling out of my seat, although, it might have more entertaining for some than Mr. Thurston. I wasn’t alone. In the lobby outside the ballroom, I ran into an Obama supporter who found that she and I had something in common, this was booooooooring. I missed the New York Attorney General’s address and opted for the hotel restaurant for some food and libation. So here is the entire opening keynote with Schneiderman coming in at the last fifteen minutes.

Here is more agreement about the anesthesia effects of the evening from FDL blogger masachio

Schneiderman chose the pander speech. He started by explaining that real change comes from the grassroots, leaders emerge from struggles over real problems. That’s us, the Netroots! We are the leaders of the future!

He continues: We are in a transitional era now, just like the early 30s. We democrats stand for the rule of law applicable to everyone equally just like President Obama. Someone from the audience suggests loudly that locking up banksters would be a good start, and Schneiderman says he’ll get to that. Which he does a few minutes later saying that he can’t comment on the investigation he is doing. Everyone is really nice about this bit of foolery, and it was at this point I realized I would prefer to be drinking. I mutter at my tablemates that banksters and pot smokers do not face the same application of the rule of law, but no one hears me because they are stunned into dopiness.

The somnolence continues. [..]

After the speech, Schneiderman told a Talking Points Memo reporter that “nothing was off the table.” So if that’s true, when do the prosecutions start? Oh, wait, the “special unit” still has no office or telephone number after six months.

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

Paul Buchheit: War or Revolution Every 75 Years. It’s Time Again.

When Charles Dickens wrote “It was the best of times, it was the worst of times” to begin “A Tale of Two Cities,” he compared the years of the French Revolution to his own “present period.” Both were wracked with inequality. But he couldn’t have known that 75 years later inequality would cause the Great Depression. Or that 75 years after that, in our own present period, extreme inequality would return for a fourth time, to impact a much greater number of people. He probably didn’t know that the cycles of history seem to drag the developed world into desperate times about every 75 years, and then seek relief through war or revolution.

It’s that time again.

Three cycles (225 years) ago, in the years before the French Revolution, inequality was at one of its highest points ever. While it’s estimated that the top 10% of the population took almost half the income, as they do today, the Gini Coefficient was between .52 and .59, higher than the current U.S. figure of .47. The French Revolution began a surge toward equality that lasted well into the 19th century.

New York Times Editorial: Now, Spain

Two weeks after Prime Minister Mariano Rajoy of Spain vowed “there will be no Spanish banking rescue,” and after days of delay in which Mr. Rajoy pressed European officials for sounder rescue terms, Spain has now joined Greece, Ireland and Portugal as the latest bailout recipient. Catastrophe averted? Hardly.

Bailouts – this one is worth up to $125 billion – are supposed to help restore investor confidence. But investors have clearly figured out what too many European politicians are still denying: serial bailouts, piecemeal plans and one-size-fits-all austerity are not a solution.

On Monday, Spanish and Italian borrowing costs spiked after Mr. Rajoy, the day before, had lamely tried to downplay the new bailout – calling it a line of credit – while Mario Monti, Italy’s prime minister, publicly warned of a “permanent risk of contagion.”

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

Paul Krugman: Another Bank Bailout

Oh, wow – another bank bailout, this time in Spain. Who could have predicted that?

The answer, of course, is everybody. In fact, the whole story is starting to feel like a comedy routine: yet again the economy slides, unemployment soars, banks get into trouble, governments rush to the rescue – but somehow it’s only the banks that get rescued, not the unemployed.

Just to be clear, Spanish banks did indeed need a bailout. Spain was clearly on the edge of a “doom loop” – a well-understood process in which concern about banks’ solvency forces the banks to sell assets, which drives down the prices of those assets, which makes people even more worried about solvency. Governments can stop such doom loops with an infusion of cash; in this case, however, the Spanish government’s own solvency is in question, so the cash had to come from a broader European fund.

New York Times Editorial Nuclear Time Warp

Did House Republicans somehow miss the end of the cold war? At a time when, for the sake of both security and fiscal responsibility, the country should be reducing its nuclear arsenal, the House has approved a defense authorization bill for 2013 that threatens to freeze the number of weapons at current levels and, over time, waste billions of dollars on unnecessary purchases and programs.

Thankfully, the bill isn’t likely to become law. But it is worth taking a closer look, both for what it says about Republicans’ misplaced strategic priorities – and about how far President Obama has already gone to appease them.